ProFrac Holding Corp. (ACDC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+91.0%

$8.35

vs $4.37 price

Levered DCF

$2.69

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.14

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-1.69×	-5.62×	-10.34×	14.91×	-17.08×	-21.31×	-18.29×
P/B	0.79×	1.23×	0.87×	-1.15×	17.26×	14.36×	2.48×
P/S	0.32×	0.57×	0.42×	0.56×	3.31×	4.64×	0.83×
EV / EBITDA	9.56×	6.85×	4.32×	3.49×	23.13×	50.26×	7.28×
Gross margin	3.7%	11.6%	17.2%	28.9%	7.5%	-5.5%	20.5%
Operating margin	-6.9%	-2.8%	6.3%	17.0%	-2.3%	-17.3%	-1.4%
Net margin	-19.0%	-9.8%	-3.7%	3.8%	0.0%	-0.4%	-4.5%
Current ratio	0.81×	0.87×	0.98×	1.27×	1.02×	1×	1.02×
Debt / equity	1.51×	1.26×	0.91×	-0.88×	2.05×	1.56×	1.05×
Interest coverage	-0.96×	-0.39×	1.08×	6.93×	-0.7×	-4.08×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-46.9%	-21.4%	-7.7%	-7.7%	0.0%	-1.2%	-13.5%
Return on invested capital	-5.9%	-2.3%	6.5%	16.6%	-4.0%	-21.0%	-2.1%
Return on assets	-14.3%	-7.2%	-3.2%	3.1%	0.0%	-0.4%	-5.3%
Free cash flow yield	3.1%	9.0%	25.8%	4.3%	-1.7%	-0.1%	-8.9%
Earnings yield	-59.2%	-17.3%	-8.8%	6.7%	0.0%	-0.1%	-5.5%
Enterprise value	$1.8B	$2.5B	$2.2B	$2.4B	$2.8B	$2.8B	$987.7M
Net debt / EBITDA	6.23×	3.45×	2.19×	1.48×	2.42×	4.87×	2.07×
Cash conversion cycle (days)	25	32	32	62	47	25	17