Latest Ratios: P/E Ratio -2.0x · EV/EBITDA 7.0x · ROE -37.7%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $852M | $623M | $1.2B | $1.1B | $1.4B | — | — | — |
| Enterprise Value | $2.0B | $1.7B | $2.5B | $2.2B | $2.4B | — | — | — |
| P/E Ratio → | -2.05 | — | — | — | 14.91 | — | — | — |
| P/S Ratio | 0.44 | 0.32 | 0.57 | 0.42 | 0.56 | — | — | — |
| P/B Ratio | 0.86 | 0.71 | 1.15 | 0.84 | 1.01 | — | — | — |
| P/FCF | 43.48 | 31.78 | 11.06 | 3.87 | 23.06 | — | — | — |
| P/OCF | 4.50 | 3.29 | 3.38 | 2.01 | 3.28 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.90 | 1.14 | 0.85 | 0.98 | — | — | — |
| EV / EBITDA | 6.97 | 6.16 | 6.55 | 3.71 | 3.48 | — | — | — |
| EV / EBIT | — | — | — | 23.17 | 5.76 | — | — | — |
| EV / FCF | — | 88.92 | 22.26 | 7.84 | 40.14 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.7% | 3.7% | 11.6% | 17.2% | 28.9% | 7.5% | -5.5% | 20.5% |
| Operating Margin | -6.9% | -6.9% | -2.8% | 6.3% | 17.0% | -2.3% | -17.3% | -1.4% |
| Net Profit Margin | -19.0% | -19.0% | -9.8% | -3.7% | 3.8% | — | -0.4% | -4.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -37.7% | -37.7% | -17.9% | -7.3% | 12.2% | — | -1.0% | -13.5% |
| ROA | -13.3% | -13.3% | -7.1% | -3.3% | 5.1% | — | -0.3% | -5.3% |
| ROIC | -4.6% | -4.6% | -1.9% | 5.2% | 22.1% | -3.0% | -14.0% | -1.6% |
| ROCE | -6.2% | -6.2% | -2.5% | 7.1% | 30.9% | -4.2% | -19.0% | -2.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.30 | 1.30 | 1.18 | 0.87 | 0.77 | 2.04 | 1.56 | 1.05 |
| Debt / EBITDA | 4.04 | 4.04 | 3.33 | 1.92 | 1.53 | 2.46 | 4.95 | 2.47 |
| Net Debt / Equity | — | 1.27 | 1.17 | 0.85 | 0.75 | 2.00 | 1.54 | 0.99 |
| Net Debt / EBITDA | 3.96 | 3.96 | 3.29 | 1.88 | 1.48 | 2.41 | 4.90 | 2.33 |
| Debt / FCF | — | 57.13 | 11.20 | 3.96 | 17.07 | — | — | — |
| Interest Coverage | -1.65 | -1.65 | -0.37 | 0.63 | 6.91 | -0.69 | -4.06 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.81 | 0.81 | 0.87 | 0.98 | 1.27 | 1.02 | 1.00 | 1.02 |
| Quick Ratio | 0.56 | 0.56 | 0.57 | 0.62 | 0.90 | 0.72 | 0.59 | 0.68 |
| Cash Ratio | 0.04 | 0.04 | 0.02 | 0.04 | 0.05 | 0.02 | 0.02 | 0.11 |
| Asset Turnover | — | 0.75 | 0.73 | 0.86 | 0.83 | 1.16 | 0.95 | 1.16 |
| Inventory Turnover | 12.37 | 12.37 | 9.63 | 9.21 | 6.91 | 9.61 | 10.21 | 12.05 |
| Days Sales Outstanding | — | 53.89 | 54.78 | 48.98 | 80.90 | 78.90 | 49.06 | 38.23 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 6.7% | — | — | — |
| FCF Yield | 2.3% | 3.1% | 9.0% | 25.8% | 4.3% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $160M | $160M | $131M | $54M | $140M | $140M | $39M |
Liquidity and solvency pressure
As reported in financial statements, ProFrac's gross margin plummeted to -0.4% in 2026Q1, reflecting a severe inability to cover direct production costs despite the company's vertically integrated model, which historically aimed to capture manufacturing margins to offset the inherent volatility of the pressure pumping service industry.
The transition from positive gross margins in early 2024 to negative territory suggests that the company's high fixed-cost structure is currently unabsorbed by declining service volumes. Investors should monitor whether this margin compression is a temporary cyclical trough or a structural failure of the vertical integration strategy to provide a competitive cost floor.
According to recent SEC filings, the company's cash conversion cycle has fluctuated significantly, reaching 27 days in 2026Q1, which, when combined with an asset turnover ratio of only 0.18, indicates that the firm is struggling to generate sufficient revenue from its substantial investment in heavy pumping equipment.
The lengthening of the cash conversion cycle relative to historical norms suggests potential friction in accounts receivable collections or inventory management. This inefficiency exacerbates the company's liquidity constraints, as capital remains tied up in operations rather than being converted into the cash necessary to service debt obligations.
Based on reported figures, the debt-to-equity ratio has climbed to 1.54 as of 2026Q1, signaling that the company's reliance on external financing is increasing even as its equity base erodes due to persistent net losses and the accumulation of negative retained earnings over the past several quarters.
The negative interest coverage ratio of -1.39 indicates that the company is currently unable to meet its debt service requirements from operating income alone. This trend warrants further investigation into the company's refinancing risk, particularly given the limited cash buffer available to support ongoing operations during this downturn.
As evidenced by quarterly filings, the current ratio has compressed to 0.82, leaving the company with a very narrow liquidity buffer to manage working capital requirements or unexpected operational shocks in the highly cyclical and capital-intensive North American hydraulic fracturing and oilfield services market.
A current ratio below 1.0 suggests that current liabilities are outpacing current assets, which may force the company to rely on external credit facilities or asset sales to maintain liquidity. This position appears precarious, especially when compared to more stable industry peers who maintain stronger balance sheets to navigate cyclical troughs.
Investors often misapply the debt-to-equity ratio to ProFrac, failing to recognize that in a capital-intensive, loss-making service business, a rising ratio is more indicative of equity erosion through net losses than a deliberate increase in leverage, which obscures the true nature of the company's solvency risk.
Rather than focusing on debt-to-equity, analysts should prioritize the debt-to-EBITDA ratio and interest coverage to assess the company's actual ability to service its obligations. Relying on book equity in this context is misleading, as it ignores the potential for significant impairment of the company's primary stimulation assets.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying ACDC stock.
ProFrac Holding Corp.'s current P/E ratio is -2.0x. The historical average is 14.9x.
ProFrac Holding Corp.'s current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.0x.
ProFrac Holding Corp.'s return on equity (ROE) is -37.7%. The historical average is -10.9%.
Based on historical data, ProFrac Holding Corp. is trading at a P/E of -2.0x. Compare with industry peers and growth rates for a complete picture.
ProFrac Holding Corp. has 3.7% gross margin and -6.9% operating margin.
ProFrac Holding Corp.'s Debt/EBITDA ratio is 4.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.