ProFrac Holding Corp.
ProFrac Holding Corp. is a U.S.-based energy services company organized around hydraulic fracturing, proppant production, equipment manufacturing, and related completion services. Its operations are centered on North American unconventional oil and natural gas basins, with a vertically integrated structure that combines service fleets, sand mines, and manufacturing capabilities.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaMobile hydraulic fracturing fleets and auxiliary equipment used to complete wells.
Frac sand mined and sold to support well stimulation and completion activity.
Pressure-pumping and completion equipment, including pumps, valves, and manifolds.
Chemistry and data technology products and services for E&P customers.
Distributed power generation and other completion-related offerings.
Tuotteet
Raportoitu · osuus liikevaihdosta- Services87,2 %
- Products12,8 %
Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
ProFrac sells primarily to upstream oil and natural gas exploration and production companies operating in U.S. unconventional basins. Its customer base also includes oilfield service providers and other completion-service users that buy sand, equipment, and chemistry products to support well development.
Buy hydraulic fracturing and completion services to develop shale wells.
Buy frac sand and related inputs for their own completion operations.
Buy bundled pumping, sand, chemicals, and equipment for efficiency.
Buy pumps, valves, manifolds, and related equipment for field use.
Buy Flotek products and services for well performance optimization.
Strategia
ProFrac’s strategy is built around vertical integration across pumping, sand, manufacturing, and chemistry so it can bundle services and control more of the completion value chain. It also emphasizes fleet modernization, basin proximity, and selective asset expansion to support customer demand and improve operating flexibility.
Captures more of the well-completion value chain and improves service control.
Supports reliability, efficiency, and customer-specific service requirements.
Reduces transport costs and improves responsiveness to customer activity.
Maantiede
ProFrac’s business is concentrated in the United States, especially the most active unconventional oil and gas basins. Its sand mines and service operations are positioned in the Haynesville, Permian, and Eagle Ford regions, which matters because proximity to well sites supports logistics, reliability, and cost control.
Riskit
Demand is tied to U.S. oil and gas capital spending, so lower commodity prices or reduced E&P activity can quickly weaken service volumes. The company also depends on specialized equipment, third-party suppliers, and a relatively small number of large customers, which can create operational and concentration risk.
- Oil and gas spending cyclicalityVaikutus: KorkeaTodennäköisyys: Kohtalainen
Customer activity depends on commodity prices and E&P budgets, which drive fracturing demand.
Kohdistuu: Hydraulic fracturing and completion services
- Customer concentrationVaikutus: KorkeaTodennäköisyys: Matala
A limited number of recurring customers contributes a large share of revenue.
Kohdistuu: Top ten customers represented 45% of 2025 revenue
- Supplier and equipment availabilityVaikutus: KeskitasoTodennäköisyys: Kohtalainen
Specialized parts and raw materials are needed to maintain and upgrade fleets.
Kohdistuu: Hydraulic fracturing equipment and manufacturing inputs
- Interest rate exposureVaikutus: KeskitasoTodennäköisyys: Kohtalainen
Variable-rate debt increases financing costs when rates rise.
Kohdistuu: Long-term debt
- Asset impairmentVaikutus: Keskitaso
Fleet, mine, and intangible asset values depend on future cash flows and utilization.
Kohdistuu: Long-lived assets and goodwill
Kirjanpito
Harkinnanvaraiset erätFleet, mine, and equipment values are tested against expected future cash flows.
Vaikutus: Can create material non-cash charges if utilization weakens.
Reporting units with goodwill must be tested annually or when indicators arise.
Vaikutus: Affects earnings and balance sheet carrying values.
Acquired assets and liabilities are recorded at fair value, requiring estimates.
Vaikutus: Purchase price allocation can materially affect goodwill and depreciation.
Future payments depend on tax savings and create a separate liability.
Vaikutus: Affects cash obligations and balance sheet presentation.
Vertical integration creates eliminations and transfer pricing judgments.
Vaikutus: Affects segment reporting and consolidated revenue/cost presentation.
Samankaltaisia listattuja yhtiöitä
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Flotek Industries, Inc
FTK · Miscellaneous Chemical Products
Flotek Industries is a U.S.-based chemical and data analytics company focused on energy-market applications.
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FLOC · Oil & Gas Field Machinery & Equipment
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Päivitetty: 24.9.2026