ProFrac Holding (ACDC) AI Stock Analysis

• Market Cap: $1.06B
• Dividend Yield: N/A
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.99
• Revenue Growth: -11.92%
• EPS Growth: -53.72%
• Country: US
• Employees: 3,077
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): -0.45
• Shares Outstanding: 180,871,190
• 10 Day Avg. Volume: 1,376,700
• 30 Day Avg. Volume: 1,505,996
• PEG Ratio: -0.08
• Price to Book (P/B): 1.23
• Price to Sales (P/S): 0.57
• P/FCF Ratio: 11.06
• Enterprise Value/Market Cap: 2.08
• Enterprise Value/Revenue: 1.14
• Enterprise Value/Gross Profit: 4.53
• Enterprise Value/Ebitda: 19.20
• 1Y Price Target: $4.00
• Price Target Upside: -31.74% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 3
• EPS Forecast (FY): -1.42
• Revenue Forecast (FY): $1.76B

• Rating: 54 Neutral
• Price Target: $6.00 ▲(2.39% Upside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is primarily held back by weak financial performance—sharp revenue decline, ongoing losses, and rising leverage—partly offset by still-positive cash flow. Technicals are a key offset with the stock trading above major moving averages and positive MACD. Earnings guidance and recent financing actions add moderate support via cost-savings plans and improved flexibility, but valuation remains constrained by negative earnings and no dividend data.

Positive Factors

Cash generation

Sustained positive operating and free cash flow on a TTM basis provides durable liquidity to fund operations, capex and deleveraging efforts. Over 2–6 months this supports resilience through cyclicality, funds cost-savings execution and reduces immediate reliance on external financing.

Cost-savings program

A targeted $100M annual savings program materially lowers the company’s breakeven and improves margin sustainability if fully realized. Labor savings already implemented and capex discipline can structurally improve cash flow, strengthen operating leverage and enhance competitiveness over the medium term.

Technology & vertical integration

Proprietary tech (ProPilot 2.0) and partner integrations can drive durable efficiency gains, lowering per-stage costs and improving execution consistency. Vertical integration with proppant production plus specialized tech creates stickier customer ties and sustainable unit-cost advantages versus pure-service peers.

Negative Factors

Revenue collapse

A very large revenue decline severely weakens scale economics and asset utilization, eroding fixed-cost absorption and pricing leverage. If reduced activity persists, it will pressure margins, limit reinvestment capacity and increase the time needed to restore profitability and cash generation.

Rising leverage

Increasing leverage elevates financial risk, raises interest expense sensitivity and tightens refinancing windows. Higher debt relative to a smaller asset base constrains strategic optionality, increases covenant vulnerability and magnifies downside if industry demand recovery is delayed.

Tighter credit terms

While the amendment extends funding visibility to 2027, tougher terms and higher borrowing costs reduce balance-sheet flexibility. The stricter minimum availability covenant and stepped-up margins heighten refinancing and liquidity risk, limiting the company's ability to pursue growth or absorb prolonged downturns.

ProFrac Holding Business Overview & Revenue Model

Company Description

ProFrac Holding Corp., a vertically integrated and energy services company, provides hydraulic fracturing, completion, and other products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production. The company also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, seats, and fluid ends. ProFrac Holding Corp. was founded in 2016 and is headquartered in Willow Park, Texas.

How the Company Makes Money

ProFrac primarily makes money by contracting with exploration and production (E&P) companies to deliver hydraulic fracturing (pressure pumping) and other well-completion services. Revenue is earned when ProFrac’s fracturing fleets (horsepower), crews, and equipment are dispatched to customer wells and perform stimulation stages; customer pricing typically reflects a combination of factors such as contracted fleet time/availability, job execution (e.g., number of stages or pumping hours), and pass-through or bundled components tied to the completion program. In addition to core pressure pumping, the company can generate revenue from complementary completion-related products and services provided through its broader platform, where applicable, by supplying or servicing equipment and components used in completions and by supporting logistics/operations around fracturing jobs. Key factors that influence earnings include overall U.S. shale completion activity levels, customer demand for contracted fracturing capacity, pricing/contract terms (including utilization and re-contracting at new day-rates), operating efficiency and downtime, and input costs (e.g., labor, maintenance, and consumables). Specific material partnerships and customer contract details are not available in the provided prompt; therefore: null.

ProFrac Holding Financial Statement Overview

Summary

Operating performance has deteriorated sharply (large revenue contraction, thin margins, deeply negative EBIT, and wider net losses). Cash flow is a relative positive with TTM operating and free cash flow still positive, but leverage is rising (higher debt-to-equity) and returns remain negative, increasing financial risk.

Income Statement

TTM (Trailing-Twelve-Months) shows sharp top-line contraction (revenue down ~93% vs. prior period) and a meaningful profitability reset: gross profit is positive but gross margin is very thin, EBIT is deeply negative, and net losses widened versus 2024. While EBITDA remains positive, margins and earnings have deteriorated materially from 2022–2023 levels, signaling weaker pricing/power utilization and/or higher costs. Key strength is that the business can still produce positive EBITDA, but the magnitude of the revenue drop and persistent net losses weigh heavily on the outlook.

Balance Sheet

Leverage is elevated and moving in the wrong direction: debt-to-equity rose from ~0.91 (2023) to ~1.26 (2024) and ~1.40 in TTM (Trailing-Twelve-Months). Equity has improved versus 2022 (when equity was negative), but profitability remains weak, with negative returns on equity across recent periods (TTM worst). Total assets have declined from 2023–TTM, and the combination of shrinking earnings and higher leverage increases financial risk, partially offset by the now-positive equity base.

Cash Flow

Cash generation is a relative bright spot: TTM (Trailing-Twelve-Months) operating cash flow is solidly positive and free cash flow is positive, with strong free cash flow growth versus the prior year. That said, operating cash flow covers only a modest portion of EBITDA in TTM (Trailing-Twelve-Months) versus stronger coverage in 2023–2024, and free cash flow is small relative to the size of net losses—suggesting working-capital movements and/or non-cash items are doing heavy lifting. Overall, liquidity appears supported by positive cash flow, but quality and sustainability look less consistent than in 2023.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.94B	2.19B	2.63B	2.43B	768.40M	547.70M
Gross Profit	487.20M	253.60M	451.50M	701.50M	57.60M	-30.00M
EBITDA	115.10M	384.00M	535.30M	678.60M	122.80M	56.00M
Net Income	-368.30M	-215.10M	-97.70M	91.50M	0.00	-2.20M
Balance Sheet
Total Assets	2.57B	2.99B	3.07B	2.93B	664.60M	577.28M
Cash, Cash Equivalents and Short-Term Investments	22.90M	14.80M	25.30M	35.10M	5.40M	2.95M
Total Debt	1.14B	1.27B	1.16B	1.04B	301.60M	275.71M
Total Liabilities	1.69B	1.91B	1.74B	1.58B	516.50M	400.46M
Stockholders Equity	717.50M	1.01B	1.27B	-1.18B	147.10M	176.81M
Cash Flow
Free Cash Flow	52.50M	112.30M	286.50M	59.00M	-43.50M	-2.90M
Operating Cash Flow	185.80M	367.30M	553.50M	415.20M	43.90M	45.10M
Investing Cash Flow	-160.00M	-372.30M	-715.80M	-1.03B	-78.40M	-44.60M
Financing Cash Flow	-17.70M	-5.50M	149.70M	645.90M	36.90M	-15.30M

ProFrac Holding Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.86
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACDC, the sentiment is Positive. The current price of 5.86 is above the 20-day moving average (MA) of 5.32, above the 50-day MA of 4.94, and above the 200-day MA of 5.31, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 66.04 is Neutral, neither overbought nor oversold. The STOCH value of 83.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ACDC.

ProFrac Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FTK	70 Neutral	$519.70M	19.13	30.71%	―	23.56%	242.78%
TTI	66 Neutral	$1.16B	-19.01	1.05%	―	0.17%	7307.20%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
RES	61 Neutral	$1.42B	37.20	4.31%	2.94%	4.20%	-59.96%
PUMP	61 Neutral	$1.60B	1,198.42	0.10%	―	-11.65%	87.57%
CLB	60 Neutral	$764.57M	26.31	12.31%	0.24%	-1.02%	6.34%
ACDC	54 Neutral	$1.06B	-1.57	-35.29%	―	-11.92%	-53.72%

ProFrac Holding Corporate Events

ProFrac Amends Credit Facility, Extends Maturity to 2027

On March 3, 2026, ProFrac Holdings II and its lending group entered into a Ninth Amendment to their existing credit agreement, reducing maximum availability on the facility to $275 million while extending the scheduled maturity by six months to September 3, 2027. The amended terms increase the SOFR loan margin on a stepped basis up to a range of 3.00% to 3.50%, set a 0.375% unused line fee, tighten certain negative covenant exceptions, and replace a $15 million minimum liquidity test with a more stringent $45 million minimum availability covenant, collectively signaling a trade-off of lower capacity and tighter terms for extended funding visibility.

These changes may raise ProFrac’s borrowing costs and restrict financial flexibility, but they also secure committed capital through 2027. For lenders, the higher margins, increased minimum availability requirement, and curtailed covenant exceptions provide enhanced protections and improved risk-adjusted returns over the remaining life of the facility.

The most recent analyst rating on (ACDC) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on ProFrac Holding stock, see the ACDC Stock Forecast page.

ProFrac Holding Subsidiary Issues Additional Secured Notes

On January 7, 2026, ProFrac Holdings II, LLC, an indirect wholly owned subsidiary of ProFrac Holding Corp., privately issued $25 million of Senior Secured Floating Rate Notes due 2029 to Beal Bank USA, structured as additional notes under an existing indenture and treated as part of the same series as previously issued notes. The net proceeds are earmarked primarily for capital expenditures, with any remaining funds for general corporate purposes, reinforcing ProFrac’s capital structure with secured debt backed by the same collateral package as its existing notes and supporting continued investment in its operations and asset base.

The most recent analyst rating on (ACDC) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on ProFrac Holding stock, see the ACDC Stock Forecast page.

ProFrac Holding appoints Matthew Rinaldi to board

On December 17, 2025, ProFrac Holding Corp.’s Board of Directors appointed Matthew Rinaldi as a non-independent member of the Board, with his term running until the company’s 2026 annual meeting of stockholders or until a successor is elected and qualified. Rinaldi, who was designated to the Board by the Farris Parties under an existing stockholders’ agreement, will receive the standard compensation for non-employee directors but is not expected to serve on any Board committees at this time, underscoring the continuing influence of key shareholder groups in ProFrac’s governance structure.

The most recent analyst rating on (ACDC) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on ProFrac Holding stock, see the ACDC Stock Forecast page.

ProFrac Holding Amends Debt Terms to Boost Flexibility

On December 19, 2025, ProFrac Holding’s affiliates amended their Alpine Term Loan Credit Agreement, reducing required quarterly amortization payments for PF Proppant Holding, LLC from $15 million to $7.5 million for the quarters ending March 31 and June 30, 2026, and deferring total net leverage ratio testing by one year to March 31, 2028, moves that ease near-term debt service and covenant pressure and provide additional financial flexibility. Separately, as part of a previously disclosed $60 million Senior Secured Floating Rate Notes due 2029 issuance, an aggregate $40 million of these notes was purchased on December 15, 2025 by Wilks Brothers, LLC and Beal Bank USA in a private placement, with the proceeds earmarked for capital expenditures and general corporate purposes and the new securities forming a single secured series with ProFrac’s existing notes, further bolstering the company’s liquidity and reinforcing support from key affiliated and institutional lenders.

The most recent analyst rating on (ACDC) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on ProFrac Holding stock, see the ACDC Stock Forecast page.