ProFrac
Provides U.S. hydraulic fracturing, proppant, equipment, and chemistry services for shale producers.
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Profile
Sells pressure-pumping services, frac sand, equipment, and Flotek chemistry/data services to North American oil and gas customers. Stimulation Services is the core revenue engine, while owned proppant, manufacturing, and power-related activities reinforce the vertical-integration model.
Operates mobile hydraulic fracturing fleets for U.S. unconventional oil and gas customers, with activity focused on basins such as the Permian, Eagle Ford, Haynesville, Appalachia, the Bakken, and the Rockies. Stimulation Services is the main business line, supported by electric, dual-fuel, idle-management, pump, manifold, and simul-frac offerings.
The portfolio also includes Proppant Production, Manufacturing, Flotek chemistry and data services, and smaller power and gas-conditioning activities under PF Holdings. Owned sand supply and equipment manufacturing make the model more vertically integrated than a standalone pressure-pumping fleet.
Demand depends on E&P capital spending, oil and gas prices, equipment supply, hydraulic-fracturing and environmental rules, water availability, capital access, and Wilks-party voting control.
Company facts
Key statistics
Year to date +23.8% · Average volume (30d) 1.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 15, 2026 | Morgan Stanley | Target | $6 | $5 | ||
| May 18, 2026 | Piper Sandler | Reiterate | Neutral | $5 | $6 | |
| Apr 15, 2026 | Morgan Stanley | Reiterate | Underweight | $4 | $6 | |
| Jan 21, 2026 | Morgan Stanley | Target | $3.50 | $4 | ||
| Dec 15, 2025 | Morgan Stanley | Target | $4.50 | $3.50 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.30 | −$0.44 | −48.4% | $483.8M | $498.1M | +3.0% | −0.89% |
| May 7, 2026Q1 FY26 | −$0.37 | −$0.47 | −27.0% | $426.4M | $449.6M | +5.4% | +1.22% |
| Mar 12, 2026Q4 FY25 | −$0.44 | −$0.51 | −15.9% | $396.0M | $436.5M | +10.2% | −8.76% |
| Nov 10, 2025Q3 FY25 | −$0.43 | −$0.60 | −39.5% | $402.9M | $403.1M | 0.0% | +5.99% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $600.3M | $501.9M | $403.1M | $436.5M | $449.6M | $498.1M | |
| Gross profit | $74.9M | $22.5M | −$24.0M | −$2.5M | −$1.9M | $110.0M | |
| Operating income | $16.0M | −$54.3M | −$78.8M | −$45.9M | −$45.5M | −$37.9M | |
| Net income | −$17.5M | −$105.9M | −$100.9M | −$142.6M | −$83.5M | −$79.7M | |
| Diluted EPS | −$0.12 | −$0.67 | −$0.60 | −$0.88 | −$0.52 | −$0.45 | |
| Gross margin | 12.5% | 4.5% | -6.0% | -0.6% | -0.4% | 22.1% | |
| Operating margin | 2.7% | -10.8% | -19.5% | -10.5% | -10.1% | -7.6% |
Fiscal years (4-quarter sums)FY21 $1.17B · FY22 $2.43B · FY23 $2.63B · FY24 $2.19B · FY25 $1.94B
Revenue by product · Q1 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $18.8M · Total debt $1.22B · Total assets $2.51B · Shareholders' equity $614.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 180.92M · Float 10.89M · 6.0% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Wilks Dan H. · 10 percent owner | 88.11M | 48.70% | Form 4 | Aug 26, 2026 |
| THRC Holdings, LP · 10 percent owner | 83.21M | 45.99% | Form 4 | Aug 26, 2026 |
| Wilks Farris · 10 percent owner | 10.15M | 5.61% | Form 4 | Jun 26, 2026 |
| First Financial Bankshares Inc | 3.86M | 2.13% | 13F | Aug 11, 2026 |
| AQR Capital Management LLC | 2.64M | 1.46% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | THRC Holdings, LP | 10 percent owner | +30,820 | $4.81 |
| Aug 24, 2026 | THRC Holdings, LP | 10 percent owner | +363,757 | $4.70 |
| Aug 21, 2026 | THRC Holdings, LP | 10 percent owner | +212,650 | $4.74 |
| Aug 25, 2026 | Dan H. Wilks | 10 percent owner | +30,820 | $4.81 |
| Aug 24, 2026 | Dan H. Wilks | 10 percent owner | +363,757 | $4.70 |
Peers
- Halliburton
Scaled pressure-pumping, completion, and chemicals rival
- Liberty Energy
Pure-play North American completions and frac technology rival
- Patterson-UTI Energy
Completion-services scale with gas-powered frac technology
- ProPetro
Permian pressure-pumping peer with electric fleet exposure
- Atlas Energy Solutions
In-basin proppant and logistics peer
- NOV
Frac equipment and stimulation manufacturing peer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| ProFrac | $4.99 | −0.20% | $902.8M | — | — | 0.5 | −0.8% |
| Halliburton | $36.73 | +1.53% | $30.22B | 18.9 | 14.3 | 1.4 | +3.7% |
| Liberty Energy | $19.12 | +0.47% | $3.10B | 25.6 | 289.3 | 0.7 | +14.0% |
| Patterson-UTI Energy | $12.42 | −0.11% | $4.72B | — | 73.3 | 1.0 | +0.7% |
| ProPetro | $10.81 | −1.59% | $1.35B | — | 57.2 | 1.2 | −6.2% |
| Atlas Energy Solutions | $12.85 | −0.04% | $1.61B | — | — | 1.5 | +1.6% |
| NOV | $20.79 | −0.91% | $7.48B | 80.7 | 19.8 | 0.9 | −2.5% |
| Median | 25.6 | 57.2 | 1.1 | +1.1% |