Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
Fiscal 2025 results for ProFrac Holding Corp. combined $1.94B of revenue with net loss of $369.00M and an operating cash inflow of $189.50M. The $1.94B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 11.4% below fiscal 2024 revenue of $2.19B, marking a top-line contraction. On a per-share basis, diluted EPS was -$2.22, which connects the reported earnings outcome with the company’s diluted share count. Total assets stood at $2.57B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.75x, relating the company’s annual revenue directly to the total assets reported at the period end.Profitability
The first profit layer was $487.20M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 25.1% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $225.80M, reflecting costs that exceeded gross profit. An operating margin of -11.6% reflected costs exceeding revenue-level gross profit by 11.6% of sales. The company ended the period with a net loss of $369.00M, extending the operating result through all remaining items. Net margin was -19.0%, reflecting a loss equal to 19.0% of reported revenue. The pretax result was a loss of $368.40M, establishing the deficit before tax effects. Pretax margin was -19.0%, reflecting a pre-tax loss equal to 19.0% of revenue. An income-tax benefit of $12.90M improved the final result relative to pretax income or loss. The net loss equaled 45.4% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 14.3%, placing the bottom-line deficit against the company’s resource base.Liquidity and Capital Structure
The near-term balance sheet paired $483.50M of current assets with $597.40M of current liabilities at the reporting date. The current ratio was 0.81x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. The company held $22.90M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 3.8%, excluding receivables and other current assets. Borrowings totaled $1.02B, adding a fixed financing obligation alongside the company’s equity capital. The debt-to-equity relationship was 1.26x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 39.7%, comparing borrowing with the total asset balance. Liabilities represented 65.8% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 0.9%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 13.9% lower than fiscal 2024 assets of $2.99B, measuring the company’s own balance-sheet change. Against $1.08B of equity in fiscal 2024, the current book-equity balance moved 24.6% and ended lower. Cash and equivalents were 54.7% higher than fiscal 2024 cash of $14.80M, showing the year-over-year change in liquid resources.Cash Flow and Earnings Quality
Operating activities produced a cash inflow of $189.50M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Capital expenditures used $169.90M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 89.7%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $19.60M, leaving a positive amount after capital expenditures. Relative to revenue, free cash flow equaled 1.0%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 0.8%, comparing post-investment cash with the balance-sheet asset base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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