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.