ProPetro Holding Corp (PUMP)

Debt-to-assets ratio

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Long-term debt US$ in thousands 45,000 45,000 60,000 30,000 30,000 — — — 0 — — — 0 0 0 110,000 130,000 130,000 150,000 160,000
Total assets US$ in thousands 1,480,310 1,472,220 1,433,380 1,394,150 1,335,790 1,143,610 1,335,790 1,084,450 1,061,240 1,098,750 1,066,790 1,044,780 1,050,740 1,050,740 1,050,740 1,050,740 1,436,110 1,436,110 1,436,110 1,409,000
Debt-to-assets ratio 0.03 0.03 0.04 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.10 0.09 0.09 0.10 0.11

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $45,000K ÷ $1,480,310K
= 0.03

The debt-to-assets ratio of ProPetro Holding Corp has shown variations over the period from December 31, 2019, to December 31, 2023. The ratio has generally been low, indicating that the company has a low level of debt relative to its total assets. In the most recent quarter, as of December 31, 2023, the ratio was 0.03, which suggests that only 3% of the company's assets were financed by debt.

Throughout the period, there was a noticeable increase in the debt-to-assets ratio from 0.02 in March 2020 to 0.10 in March 2020, reflecting a higher level of debt relative to assets at that time. However, this increase was followed by a decrease in the ratio to 0.03 in December 2023.

The relatively low and decreasing trend in the debt-to-assets ratio indicates that ProPetro Holding Corp has been effectively managing its debt levels and maintaining a strong financial position with a healthy mix of debt and equity financing. Investors and stakeholders may view this positively as it suggests lower financial risk and greater financial stability for the company.