Latest revenue
$449.6M
as of 2026-03-31
Latest net income
$-83.5M
as of 2026-03-31
Net margin
-18.6%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $1.29B
- Enterprise value
- $1.29B
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $10.70
- 52-wk low
- $3.08
- Beta
- —
- Shares out
- 180.9M
5-year trend
What this company does
ProFrac Holding is a vertically integrated oilfield services company that pumps hydraulic fracturing fleets, mines frac sand, manufactures its own pumping equipment, and supplies oilfield chemicals through its Flotek subsidiary. Stimulation services—running 22 active frac fleets for U.S. shale producers in basins like the Permian, Eagle Ford, and Haynesville—generate the bulk of revenue, supplemented by in-basin sand sales and chemicals. The company is pivoting toward lower-emission offerings, expanding electric and dual-fuel fleets and building out Livewire, its new distributed natural-gas power generation business launched in late 2024.
Generated from ACDC's filing dated 2026-03-13
Key risks
- Customer concentration in cyclical E&P: 22 active fleets serve hydraulic fracturing customers exposed to oil/gas price volatility and completion activity slowdowns.
- Intercompany complexity with Flotek: April 2025 $107.5M sale-leaseback (through 2031) and assigned $40M PWRtek Note raise related-party governance concerns.
- Idle capacity and underutilization: Merryville Sand Mine idled within 21.5M-ton proppant capacity; two Tier II fleets lack dual-fuel capability amid ESG-driven demand shift.
Generated from ACDC's filing dated 2026-03-13
Profitability
Operating margin
-11.6%
321.8%Net margin
-19.0%
93.6%Return on equity
-51.4%
140.7%Return on assets
-14.3%
99.2%Leverage
Debt / equity
2.59×
31.4%Long-term debt / equity
1.16×
24.8%Debt / assets
72.1%
8.8%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $449.6M | -25.1% | $-83.5M | -377.1% | -18.6% |
Q4 2025 2025-12-31 | $436.5M | -4.0% | $-144.7M | -35.5% | -33.2% |
Q3 2025 2025-09-30 | $403.1M | -29.9% | $-100.9M | -123.2% | -25.0% |
Q2 2025 2025-06-30 | $501.9M | -13.4% | $-105.9M | -63.2% | -21.1% |
Q1 2025 2025-03-31 | $600.3M | +3.2% | $-17.5M | -1072.2% | -2.9% |
Q4 2024 2024-12-31 | $454.7M | — | $-106.8M | — | -23.5% |
Q3 2024 2024-09-30 | $575.3M | +0.2% | $-45.2M | -22700.0% | -7.9% |
Q2 2024 2024-06-30 | $579.4M | -18.3% | $-64.9M | -2137.9% | -11.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Oil & Gas Field Services, NEC · SIC 1389
Your notes
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Insider activity
Insider buying
$20.2M
Insider selling
$0
Net activity
+$20.2M
Distinct insiders
3
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ACDC
Institutional value
$70.6M
Total shares held
11.4M
Distinct holders
63
-61 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | First Financial Bankshares Inc | 3.9M | $24.1M | -22.6K (-0.6%) | Trimmed |
| 2 | BlackRock, Inc. | 1.9M | $11.5M | +72.8K (+4.1%) | Added |
| 3 | WELLS FARGO & COMPANY/MN | 1.1M | $6.6M | -20.9K (-1.9%) | Trimmed |
| 4 | BNP PARIBAS FINANCIAL MARKETS | 1.0M | $6.2M | +916.6K (+1050.5%) | Added |
| 5 | Walleye Capital LLC | 695.8K | $4.3M | +614.7K (+757.3%) | Added |
| 6 | JPMORGAN CHASE & CO | 517.3K | $3.2M | +490.6K (+1832.7%) | Added |
| 7 | DIMENSIONAL FUND ADVISORS LP | 390.4K | $2.4M | +238.2K (+156.5%) | Added |
| 8 | VANGUARD CAPITAL MANAGEMENT LLC | 239.2K | $1.5M | — | New |
| 9 | UBS Group AG | 195.8K | $1.2M | -271.4K (-58.1%) | Trimmed |
| 10 | VANGUARD PORTFOLIO MANAGEMENT LLC | 165.4K | $1.0M | — | New |
| 11 | Mariner, LLC | 155.3K | $963.0K | +57.6K (+58.9%) | Added |
| 12 | JANE STREET GROUP, LLC | 144.4K | $895.4K | -176.7K (-55.0%) | Trimmed |
| 13 | VANGUARD FIDUCIARY TRUST CO | 126.0K | $781.1K | — | New |
| 14 | SEI INVESTMENTS CO | 100.0K | $619.9K | +47.8K (+91.6%) | Added |
| 15 | SummerHaven Investment Management, LLC | 94.5K | $586.1K | -15.1K (-13.8%) | Trimmed |
| 16 | Bank of New York Mellon Corp | 79.9K | $495.5K | +11.6K (+17.0%) | Added |
| 17 | HENNESSY ADVISORS INC | 58.5K | $362.7K | +23.5K (+67.1%) | Added |
| 18 | Nuveen, LLC | 57.9K | $358.8K | +339 (+0.6%) | Added |
| 19 | Invesco Ltd. | 50.8K | $314.8K | -189.9K (-78.9%) | Trimmed |
| 20 | Creative Planning | 50.6K | $313.8K | +18.1K (+55.9%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With 22 active fleets versus prior peaks above 30, what utilization and pricing trajectory justifies maintaining current capacity rather than further rationalization?
- 2
Why remains the Merryville Sand Mine idled, and what Permian sand price assumptions underpin the carrying value of your 21.5 million tons of capacity?
- 3
Given leverage concerns and Flotek minority ownership complexity, what specific covenant headroom and refinancing milestones should investors monitor over the next 12 months?
Refreshed when ACDC files a new report · last from 2026-03-13