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.
Customer prepayments (contract liabilities) cover 30.5% of the backlog.
Twelve-month book-to-bill: 1.00, i.e. 1.00 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +26 points — orders are running ahead of revenue.
The latest filed figure is more than 200 days old.
ProPetro backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Dec 2024
$38.7M
$1.44B
0.0 yrs
$11.8M
31 Dec 2023
$33.8M
$1.63B
0.0 yrs
$19.2M
31 Dec 2022
$38.7M
$1.28B
0.0 yrs
$10.0M
31 Dec 2021
$16.8M
$874M
0.0 yrs
n/a
31 Dec 2020
$14.7M
$789M
0.0 yrs
n/a
31 Dec 2019
$47.5M
$2.05B
0.0 yrs
n/a
30 Sep 2018
$27.8M
$1.59B
0.0 yrs
n/a
30 Jun 2018
$36.9M
$1.44B
0.0 yrs
n/a
31 Mar 2018
$24.5M
$1.20B
0.0 yrs
n/a
Questions
What is ProPetro's 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.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.