ProFrac Holding (ACDC)
NASDAQ:ACDC
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ProFrac Holding
(NASDAQ:ACDC)
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Rating:52Neutral
Price Target:
$6.50
▲(4.50% Upside)
Action:ReiteratedDate:03/14/26
The score is held back primarily by deteriorated financial performance (steep TTM revenue decline, wider losses, and rising leverage), partially offset by positive cash flow. Technicals are supportive with price above key moving averages and positive MACD, while earnings-call commentary points to a developing operational turnaround and cost savings progress but with near-term headwinds and high debt. Valuation provides limited support due to losses (negative P/E) and no dividend yield.
Positive Factors
Positive cash generation
Sustained positive operating cash flow and a return to positive free cash flow show the business can internally fund working capital and some capex. Over 2–6 months this improves liquidity resilience, supports debt servicing and funds optimization programs without full reliance on external capital.
Negative Factors
Rising leverage
Leverage has increased notably into the TTM period, raising refinancing and covenant sensitivity. High principal debt balances constrain strategic optionality, magnify earnings volatility impacts, and increase default risk during demand troughs, limiting management's ability to invest or sustain payouts.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive cash generation
Sustained positive operating cash flow and a return to positive free cash flow show the business can internally fund working capital and some capex. Over 2–6 months this improves liquidity resilience, supports debt servicing and funds optimization programs without full reliance on external capital.
Read all positive factors
ProFrac Holding (ACDC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.12B
Dividend YieldN/A
Average Volume (3M)1.58M
Price to Earnings (P/E)―
Beta (1Y)1.77
Revenue Growth-11.92%
EPS Growth-53.72%
CountryUS
Employees3,077
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)-0.49
Shares Outstanding180,920,750
10 Day Avg. Volume1,377,985
30 Day Avg. Volume1,575,200
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.79
Price to Sales (P/S)0.32
P/FCF Ratio31.78
Enterprise Value/Market Cap2.04
Enterprise Value/Revenue1.17
Enterprise Value/Gross Profit32.14
Enterprise Value/Ebitda9.24
Forecast
1Y Price Target
$4.00Price Target Upside-35.69% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)-1.38
Revenue Forecast (FY)$1.76B
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 un...
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), cr...
ProFrac Holding Earnings Call Summary
Earnings Call Date:Mar 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call presented a largely constructive operational and financial turnaround in Q4, highlighted by a 49% sequential increase in adjusted EBITDA, strong proppant volumes (~2M tons) and meaningful progress on a targeted $85M–$115M cost optimization program (labor and CapEx savings largely realized). Management also strengthened liquidity and reduced capital intensity year-over-year. Near-term headwinds include a material weather-driven EBITDA impact in Q1 ($8M–$12M), expected softer proppant volumes in Q1, only partial realization of non-labor savings so far, and a relatively low cash balance alongside ~ $1.05B of principal debt. Overall, the positive operational momentum, tangible cost/capital savings, technology validation (Makena/ProPilot), and improved cash generation outweigh the near-term challenges.Positive Updates
Strong Sequential EBITDA Recovery
Total adjusted EBITDA increased 49% sequentially (Q4 $61M vs Q3 $41M). Adjusted EBITDA margin improved to 14% in Q4 from 10% in Q3 (+4 percentage points). Full year 2025 adjusted EBITDA was $310M with a 16% margin.
Negative Updates
Weather-Driven Disruption and Q1 Impact
Severe winter storms in January created operational challenges and are estimated to have reduced adjusted EBITDA by $8M–$12M in Q1 (impact more heavily weighted to stimulation services). Management expects Q1 to be softer than Q4 and noted some losses in hours/days are unrecoverable in the quarter.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Sequential EBITDA Recovery
Total adjusted EBITDA increased 49% sequentially (Q4 $61M vs Q3 $41M). Adjusted EBITDA margin improved to 14% in Q4 from 10% in Q3 (+4 percentage points). Full year 2025 adjusted EBITDA was $310M with a 16% margin.
Read all positive updates
Company Guidance
The company guided 2026 capital expenditures at $155–185 million including Flotek (or $145–175 million excluding Flotek), and reiterated its business-optimization target of roughly $85–115 million of annualized savings (a $100 million midpoint referenced earlier) made up of $35–45 million of labor-related COGS & SG&A cuts, $30–40 million of non‑labor operating expense reductions, and $20–30 million of CapEx efficiency; management said CapEx efficiency has at least reached the midpoint and is tracking to the high end, labor savings are fully implemented at or above the midpoint, non‑labor is ~1/3 complete with acceleration expected in Q2, and Q4 cash impact of these initiatives was about $45 million (labor ~$10M, non‑labor ~$10M, CapEx ~$25M). They warned Q1 would be softer due to ~ $8–12 million of weather‑related adjusted EBITDA headwinds but expect activity and calendars to tighten with Q1 exit roughly in line-to-slightly better than Q4, and they closed 2025 with liquidity of about $152 million (cash ~$23M, incl. $6M Flotek; $135M available under the ABL), $69M drawn on the ABL, ~ $1.05 billion principal debt outstanding and $136M of long‑term debt repaid in 2025.ProFrac Holding Financial Statement Overview
Summary
Income Statement
27
Negative
Balance Sheet
38
Negative
Cash Flow
56
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.94B | 2.19B | 2.63B | 2.43B | 768.40M |
| Gross Profit | 70.90M | 253.60M | 451.50M | 701.50M | 57.60M |
| EBITDA | 282.20M | 384.00M | 535.30M | 678.60M | 122.80M |
| Net Income | -369.00M | -215.10M | -97.70M | 91.50M | 0.00 |
Balance Sheet | |||||
| Total Assets | 2.57B | 2.99B | 3.07B | 2.93B | 664.60M |
| Cash, Cash Equivalents and Short-Term Investments | 22.90M | 14.80M | 25.30M | 35.10M | 5.40M |
| Total Debt | 1.14B | 1.27B | 1.16B | 1.04B | 301.60M |
| Total Liabilities | 1.69B | 1.91B | 1.74B | 1.58B | 516.50M |
| Stockholders Equity | 786.30M | 1.01B | 1.27B | -1.18B | 147.10M |
Cash Flow | |||||
| Free Cash Flow | 19.60M | 112.30M | 286.50M | 59.00M | -43.50M |
| Operating Cash Flow | 189.50M | 367.30M | 553.50M | 415.20M | 43.90M |
| Investing Cash Flow | -163.70M | -372.30M | -715.80M | -1.03B | -78.40M |
| Financing Cash Flow | -17.70M | -5.50M | 149.70M | 645.90M | 36.90M |
ProFrac Holding Technical Analysis
Positive
6.22
Price Trends
5.69
Positive
4.86
Positive
5.11
Positive
Market Momentum
0.15
Positive
52.87
Neutral
31.52
Neutral
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 6.22 is below the 20-day moving average (MA) of 6.36, above the 50-day MA of 5.69, and above the 200-day MA of 5.11, indicating a neutral trend. The MACD of 0.15 indicates Positive momentum. The RSI at 52.87 is Neutral, neither overbought nor oversold. The STOCH value of 31.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ACDC.
ProFrac Holding Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $569.72M | 19.13 | 29.42% | ― | 23.56% | 242.78% | |
66 Neutral | $1.48B | 37.20 | 2.93% | 2.94% | 4.20% | -59.96% | |
66 Neutral | $1.12B | -19.01 | 1.05% | ― | 0.17% | 7307.20% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
61 Neutral | $771.81M | 26.31 | 11.94% | 0.24% | -1.02% | 6.34% | |
61 Neutral | $1.69B | 1,198.42 | 0.10% | ― | -11.65% | 87.57% | |
52 Neutral | $1.12B | -1.69 | -41.79% | ― | -11.92% | -53.72% |
* Energy Sector Average
ACDC
ProFrac Holding
6.17
0.87
16.42%
CLB
Core Laboratories
16.76
4.07
32.05%
FTK
Flotek
15.75
8.62
120.90%
RES
RPC
6.68
1.93
40.72%
TTI
Tetra Technologies
8.33
5.99
255.98%
PUMP
Propetro Holding
13.84
8.21
145.83%
ProFrac Holding Corporate Events
Business Operations and StrategyPrivate Placements and Financing
ProFrac Amends Credit Facility, Extends Maturity to 2027
Neutral
Mar 9, 2026
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 Se...
Business Operations and StrategyPrivate Placements and Financing
ProFrac Holding Subsidiary Issues Additional Secured Notes
Positive
Jan 9, 2026
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 exist...
Executive/Board Changes
ProFrac Holding appoints Matthew Rinaldi to board
Neutral
Dec 22, 2025
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 ...
Business Operations and StrategyPrivate Placements and Financing
ProFrac Holding Amends Debt Terms to Boost Flexibility
Positive
Dec 19, 2025
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.