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ProPetro Holding Corp.PUMPCompetitor analysis, valuation and peers

United States · USD·Energy›Oilfield Services/Equipment

Provides hydraulic fracturing and other well-completion services to oil & gas producers in the Permian Basin.

Momentum laggard 5
Mkt cap
$785M
US dollars, full cap
Free float
92%
of shares outstanding
$/day
$44.6M
20-day average traded
Fwd P/E
35.1×
forward earnings
ROIC−WACC
-7.1 pp
WACC 7.2%
Hurdle
n/a
no reverse DCF
Next earnings
109 days
23 Feb 2027
Close · USD$6.39
1D+6.3%
1W-17.3%
1M-29.3%
3M-45.0%
6M-59.2%
YTD-32.8%
1Y-41.0%
ATR %8.0%
Beta0.64
52w lowhigh65.5% off high

What ProPetro does

Provides hydraulic fracturing and other well-completion services to oil & gas producers in the Permian Basin.

Rents out pumping crews and fleets to oil producers under dedicated-fleet agreements or job-by-job pricing, so earnings depend on how many fleets are working and what they can charge. Pumps wear out quickly, so heavy maintenance and replacement spending is built in. It has been adding electric-powered fleets alongside its diesel ones.

Products and services

  • Hydraulic fracturing (pressure pumping)
  • Cementing/wireline services

Customers

  • Permian Basin oil & gas E&P operators

Where it sits in the supply chain

  • Energy
  • Oilfield services
  • Hydraulic fracturing/pressure pumping

What could go right

  • Rising Permian completions activity

What could go wrong

  • Oil & gas capex cyclicality
  • Pressure pumping overcapacity/pricing pressure

Moat: narrow (scale, installed base). Permian-focused fleet close to core customers, but a cyclical, price-competitive service.

Headquarters: Midland, Texas, United States · Founded: 2007 · Employees: 1,700

Named competitors

ProPetro at a glance

Size ProPetro (PUMP) is a United States Energy company (Oilfield Services/Equipment) with a market value of $785M, the 2408th largest of 3,117 United States companies the cockpit tracks. Shares closed at $6.39 on 6 Nov 2026.

Performance Over six months the shares fell 59.2%, against -21.9% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 20 in its peer set.

Growth Revenue fell 6.0% over the last twelve months (peer median -2.2%); the operating margin is 0.1% (peer median 2.9%).

Valuation It trades at 35.1× forward earnings against a peer median of 14.5× (3rd most expensive of 16).

Capital Return on invested capital runs 7.1 points below its cost of capital (7.2% WACC).

Backlog Backlog (remaining performance obligations) was $38.7M at 31 Dec 2024, up 14% on a year earlier — 0.0 years of trailing revenue. Backlog detail →

Credit ProPetro has 1 bond outstanding ($690M).

Short interest Short interest is 15.5% of the free float (15 Oct 2026).

Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).

Relative performance

507510011 May 202611 Aug 20266 Nov 2026Peer median 76PUMP 38
Six months, rebased to 100: ProPetro against the median of its 20 peers (local-currency closes).

ProPetro financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$1.22B$1.27B$1.44B$1.63B$1.28B
Revenue growth—-12%-11%+27%—
Gross profit$122M$126M$167M$318M$269M
EBITDA$171M$193M$266M$384M$285M
Net income$2.00M$824,000-$138M$85.6M$2.03M
Free cash flow-$98.1M$42.5M$112M$3.87M-$19.3M
Capital expenditure$292M$186M$140M$371M$320M
Total debt$891M$213M$175M$149M$33.2M

Quarterly statements and history in the cockpit →

ProPetro competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%+50%-60%-40%-20%0%FETVIRI603727TOTHTG6330002490FTKAESI300084AT1921603800688377ACDCCFW002554OISPUMP6-month return →1-month return →
Up and to the right = strong over both horizons. ProPetro is the large dot.

Fundamentals: revenue growth against valuation

-25%0%+25%+50%0×100×200×FETVIRI603727TOTHTG6330FTKAT603800688377CFWOISPUMPRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. ProPetro is the large dot.

ProPetro competitors and peer comparison

Head to head with its named competitors (PUMP vs LBRT vs HAL vs PTEN)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
ProPetro PUMP$785M-59%-6%0%35.1×n/a
Liberty Energy LBRT$1.95B-64%+14%2%n/an/a
Halliburton HAL$26.3B-20%+2%13%11.7×-0.3%
Patterson-UTI Energy PTEN$3.76B-13%0%0%26.0×42.6%

How ProPetro compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

ProPetro against its 20 peers (data as of 6 Nov 2026)
MeasurePUMPPeer medianRank in peer set
1-month return-29.3%-9.5%5th lowest of 21
6-month return-59.2%-21.9%2nd lowest of 20
Distance from 52-week high-65.5%-45.5%5th lowest of 21
Revenue growth (TTM)-6.0%-2.2%10th lowest of 21
Operating margin0.1%2.9%8th lowest of 21
Forward P/E35.1×14.5×3rd most expensive of 16
ROIC minus cost of capital-7.1 pp-4.2 pp10th lowest of 21
EV / EBITDA5.5×7.3×5th cheapest of 14
Net debt / EBITDA0.9×1.1×7th least indebted of 14

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
ProPetro PUMPUnited States$785M-59%-6%0%35.1×n/an/a
Forum Energy Technologies FETUnited States$800M+30%+11%7%12.9×3.5%+9.1%
Viridien VIRI.PAFrance$763M-16%-14%11%22.9×-2.9%+4.1%
Bomesc Offshore Engineering 603727.SSChina$823M+6%-12%-7%249.4×-9.1%-6.1%
Total Energy Services TOT.TOCanada$851M+41%+22%9%9.7×3.7%+23.8%
Hunting HTG.LUnited Kingdom$714M-25%-12%7%14.3×17.8%+9.6%
Toyo Engineering 6330.TJapan$711M-16%-31%-10%14.2×-2.1%-0.1%
Shandong Molong Petroleum Machinery 002490.SZChina$704M-33%+51%0%n/an/an/a
Flotek Industries FTKUnited States$886M+45%+59%13%21.9×n/an/a
Atlas Energy Solutions AESIUnited States$678M-71%-4%-11%n/an/an/a
Haimo Technologies 300084.SZChina$667M-31%-7%-12%n/an/an/a
Ashtead Technology AT..LUnited Kingdom$660M+26%+9%26%16.2×-5.5%+36.8%
Dalipal 1921.HKHong Kong$603M-29%+3%3%14.5×n/an/a
Jiangsu Hongtian Technology 603800.SSChina$1.11B-32%-27%-15%62.3×32.4%+5.1%
Nanjing Develop Advanced Manufacturing Co. Ltd. Class 1 688377.SSChina$554M-52%0%9%30.2×7.5%+11.4%
ProFrac ACDCUnited States$547M-55%-16%-11%n/an/an/a
RPC RESUnited States$1.18B-22%+18%3%17.9×12.2%+22.1%
Hornbeck Offshore Services HOSUnited States$1.18Bn/a+2%8%8.6×-1.1%+12.0%
Calfrac Well Services CFW.TOCanada$506M+36%-15%6%7.2×-10.9%+14.5%
China Oil HBP Science & Technology 002554.SZChina$502M-28%-29%-17%n/an/an/a
Oil States International OISUnited States$499M-4%-1%1%13.5×27.7%+1.0%

ProPetro bonds and credit

ProPetro has 1 bond outstanding with $690M face value.

Every bond, yield and spread in the cockpit →

ProPetro backlog

ProPetro reported $38.7M of remaining performance obligations at 31 Dec 2024, up 14% from a year earlier. That is 0.0 years of trailing revenue already under contract.

Questions

Who are ProPetro's main competitors?
Named competitors: Liberty Energy (LBRT), Halliburton (HAL), Patterson-UTI Energy (PTEN). The cockpit's measured peer set (industry) also includes Forum Energy Technologies (FET), Viridien (VIRI.PA), Bomesc Offshore Engineering (603727.SS), Total Energy Services (TOT.TO), Hunting (HTG.L), Toyo Engineering (6330.T).
Is ProPetro expensive compared with its peers?
On forward p/e it trades at 35.1× against a peer median of 14.5×, 3rd most expensive of 16 in its peer set.
How has ProPetro stock performed?
Over six months to 6 Nov 2026 the shares returned -59.2% against -21.9% for the median peer; over one year -41.0%.
What is ProPetro's backlog?
ProPetro's remaining performance obligations (contracted revenue not yet recognised) were $38.7M at 31 Dec 2024, +14% on a year earlier.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.