ProFrac Holding Corp. ACDC
ProFrac Holding Corp. is a technology-focused, vertically integrated, innovation-driven energy services holding company providing hydraulic fracturing, proppant production, other completion services and other complementary products and services including distributed power generation to leading upstream oil and natural gas companies engaged in the exploration and production ("E&P") of North American unconventional oil and natural gas resources throughout the United States. Founded in 2016, ProFrac was built to be the go-to service provider for E&P companies' most demanding hydraulic fracturing needs. ProFrac Corp. operates in four business segments: Stimulation Services, Proppant Production, Manufacturing, and Flotek Industries, Inc., ("Flotek").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.94B | $2.19B | $2.63B | $2.43B | $768.4M | $547.7M | — |
| Cost of revenue | — | — | — | $2.43B | $768.4M | $547.7M | — |
| Gross profit | — | — | — | $0 | $0 | $0 | — |
| SG&A | $190.5M | $204.6M | $233.6M | $225.0M | $64.2M | $48.2M | — |
| Total operating expenses | $2.17B | $2.25B | $2.46B | $2.01B | $786.4M | $642.7M | — |
| Operating income | -$225.8M | -$60.4M | $166.6M | $412.4M | -$18.0M | -$95.0M | — |
| Interest expense | $138.8M | $156.6M | $154.9M | $59.5M | $25.8M | $23.3M | — |
| Pre-tax income | -$368.4M | -$214.8M | -$58.0M | $351.8M | -$43.7M | -$118.0M | — |
| Income tax | $12.9M | $7.0M | $1.2M | $9.1M | $200.0K | $500.0K | — |
| Net income | -$355.5M | -$207.8M | -$59.2M | $91.5M | -$42.4M | -$118.5M | — |
| EPS, basic | -2.22 | -1.38 | -0.82 | 2.06 | — | — | — |
| EPS, diluted | -2.22 | -1.38 | -0.82 | 2.06 | — | — | — |
| Shares, diluted (wtd. avg.) | $168.3M | $159.9M | $130.9M | $44.5M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $22.9M | $14.8M | $25.3M | $37.9M | $5.4M | $3.0M | $17.8M |
| Receivables | $266.8M | $312.7M | $346.1M | $535.5M | $161.6M | — | — |
| Inventory | $151.3M | $201.1M | $236.6M | $249.5M | $74.0M | — | — |
| Total current assets | $483.5M | $574.1M | $638.1M | $3.0M | $251.7M | — | — |
| Property, plant and equipment | $1.46B | $1.76B | $1.78B | $1.40B | $363.7M | — | — |
| Goodwill | $290.2M | $302.0M | $325.9M | $240.5M | — | — | — |
| Other intangibles | $111.8M | $148.9M | $173.5M | $203.1M | $27.8M | — | — |
| Total assets | $2.57B | $2.99B | $3.07B | $1.28B | $664.6M | — | — |
| Accounts payable | $257.1M | $324.3M | $319.0M | $339.4M | $136.7M | — | — |
| Short-term debt | $144.7M | $159.6M | $126.4M | $127.6M | $31.8M | — | — |
| Total current liabilities | $597.4M | $660.0M | $648.9M | $3.4M | $246.7M | — | — |
| Long-term debt | $875.6M | $944.4M | $942.1M | $797.8M | $269.8M | — | — |
| Total liabilities | $1.69B | $1.85B | $1.74B | $3.4M | $516.5M | — | — |
| Retained earnings | -$610.2M | -$235.9M | -$16.0M | -$1.19B | — | — | — |
| Total equity | $717.5M | $1.01B | $1.27B | -$1.11B | $147.1M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $189.5M | $367.3M | $553.5M | $415.2M | $43.9M | $45.1M | — |
| Depreciation and amortisation | $416.3M | $442.2M | $438.4M | $267.3M | $140.7M | $150.7M | — |
| Stock-based compensation | $9.3M | $7.3M | $29.8M | $67.4M | — | — | — |
| Capital expenditure | $169.9M | $255.0M | $267.0M | $356.2M | $87.4M | $48.0M | — |
| Investing cash flow | -$163.7M | -$372.3M | -$715.8M | -$1.03B | -$78.4M | -$44.6M | — |
| Financing cash flow | -$17.7M | -$5.5M | $149.7M | $645.9M | $36.9M | -$15.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-049044.
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