ProFrac Holding Corp. (ACDC)

Nasdaq · Common Stock · Oil & Gas Field Services, NEC

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

44 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-13 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of ProFrac Holding Corp. as disclosed in its SEC filing
Entity	Jurisdiction	Note
ProFrac Holdings II, LLC (dba PF Holdings)	Texas
ProFrac Services, LLC	Texas
ProFrac Manufacturing, LLC (dba PF Distribution)	Texas
Alpine Silica, LLC	Texas
Best Pump and Flow, LLC (dba Best Flow Services)	Texas
FTS International, Inc.	Delaware
ProFrac GDM, LLC	Texas
AG PSC Funding LLC	Delaware
REV Energy Services, LLC	Colorado
REV Energy Holdings, LLC	Colorado
Alpine Monahans, LLC	Delaware
Alpine Monahans II, LLC	Delaware
Monarch Silica, LLC	Texas
Sunny Point Aggregates, LLC	Louisiana
Performance Proppants International, LLC	Louisiana
Performance Proppants, LLC	Texas
Red River Land Holdings, LLC	Louisiana
Performance Royalty, LLC	Louisiana
U.S. Well Services Holdings, LLC	Delaware
USWS Holdings LLC	Delaware
U.S. Well Services, LLC	Delaware
USWS Fleet 10, LLC	Delaware
USWS Fleet 11, LLC	Delaware
Producers Service Holdings LLC	Delaware
Producers Service Company – West LLC	Delaware
Producers Service I, LLC	Delaware
Producers Service Company LLC	Delaware
Alpine Holding, LLC	Delaware
Alpine Holding II, LLC	Delaware
Alpine Real Estate Holdings, LLC	Delaware
F3 Fuel, LLC	Texas
IOT-eq, LLC	Texas
PF Manufacturing Holding, LLC	Texas
PF Proppant Holding, LLC	Texas
PF Tech Holding, LLC	Texas
PF Services Holding, LLC	Texas
Advanced Stimulation Technologies, Inc.	Texas
Alpine Silica Holding, Inc.	Delaware
AMI US Holdings, Inc.	Texas
FHE Holdco, LLC	Delaware
FHE Holdco II, LLC	Delaware
FHE USA LLC	Delaware
Livewire Power, LLC	Delaware
NRG Manufacturing Inc	Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 8

FAILReturn on assets positiveROA -14.3%
PASSOperating cash flow positiveOCF 190M
FAILReturn on assets improving-7.2% → -14.3%
PASSCash flow exceeds earningsOCF 190M vs NI -369M
FAILLong-term debt ratio falling31.6% → 34.0% of assets
FAILCurrent ratio improving0.87 → 0.81
FAILNo share dilution160M → 168M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.73× → 0.75×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$547.7M	−$118.5M	−$2.9M	—	—
FY2021	$768.4M	−$43.5M	−$43.5M	—	—
FY2022	$2.4B	$91.5M	$59.0M	—	44,500,000
FY2023	$2.6B	−$97.7M	$286.5M	—	130,900,000
FY2024	$2.2B	−$215.1M	$112.3M	—	159,900,000
FY2025	$1.9B	−$369.0M	$19.6M	—	168,300,000

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of ProFrac Holding Corp. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	824,513	+36,251	$4.8M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Identity

CIK: 0001881487
FIGI: BBG013PRYPJ2
SIC: 1389 · Oil & Gas Field Services, NEC
Incorporated: DE
Headquarters: WILLOW PARK, TX

Ownership

Institutional: 17.9%
Institutions: 190
Insiders: 84.2%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other oil & gas field services, nec companies

ProFrac Holding Corp. files under SIC 1389 — all 9 oil & gas field services, nec companies compared on assets and F-score.

HALLIBURTON COHAL WaterBridge Infrastructure LLCWBI OCEANEERING INTERNATIONAL INCOII HELIX ENERGY SOLUTIONS GROUP INCHLX Select Water Solutions, Inc.WTTR Ranger Energy Services, Inc.RNGR

Questions about ProFrac Holding Corp.

How many subsidiaries does ProFrac Holding Corp. file with the SEC?: 44, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Texas, Delaware, Colorado, Louisiana). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is ProFrac Holding Corp. financially healthy?: ProFrac Holding Corp. scores 3 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of ProFrac Holding Corp.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

44 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-13 — see the exhibit.

Which other public companies file entities in the same places:

Delaware21 Texas17 Louisiana4 Colorado2

Entity

Jurisdiction

Note

ProFrac Holdings II, LLC (dba PF Holdings)

Texas

ProFrac Services, LLC

Texas

ProFrac Manufacturing, LLC (dba PF Distribution)

Texas

Alpine Silica, LLC

Texas

Best Pump and Flow, LLC (dba Best Flow Services)

Texas

FTS International, Inc.

Delaware

ProFrac GDM, LLC

Texas

AG PSC Funding LLC

Delaware

REV Energy Services, LLC

Colorado

REV Energy Holdings, LLC

Colorado

Alpine Monahans, LLC

Delaware

Alpine Monahans II, LLC

Delaware

Monarch Silica, LLC

Texas

Sunny Point Aggregates, LLC

Louisiana

Performance Proppants International, LLC

Louisiana

Performance Proppants, LLC

Texas

Red River Land Holdings, LLC

Louisiana

Performance Royalty, LLC

Louisiana

U.S. Well Services Holdings, LLC

Delaware

USWS Holdings LLC

Delaware

U.S. Well Services, LLC

Delaware

USWS Fleet 10, LLC

Delaware

USWS Fleet 11, LLC

Delaware

Producers Service Holdings LLC

Delaware

Producers Service Company – West LLC

Delaware

Producers Service I, LLC

Delaware

Producers Service Company LLC

Delaware

Alpine Holding, LLC

Delaware

Alpine Holding II, LLC

Delaware

Alpine Real Estate Holdings, LLC

Delaware

F3 Fuel, LLC

Texas

IOT-eq, LLC

Texas

PF Manufacturing Holding, LLC

Texas

PF Proppant Holding, LLC

Texas

PF Tech Holding, LLC

Texas

PF Services Holding, LLC

Texas

Advanced Stimulation Technologies, Inc.

Texas

Alpine Silica Holding, Inc.

Delaware

AMI US Holdings, Inc.

Texas

FHE Holdco, LLC

Delaware

FHE Holdco II, LLC

Delaware

FHE USA LLC

Delaware

Livewire Power, LLC

Delaware

NRG Manufacturing Inc

Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 8

FAILReturn on assets positiveROA -14.3%
PASSOperating cash flow positiveOCF 190M
FAILReturn on assets improving-7.2% → -14.3%
PASSCash flow exceeds earningsOCF 190M vs NI -369M
FAILLong-term debt ratio falling31.6% → 34.0% of assets
FAILCurrent ratio improving0.87 → 0.81
FAILNo share dilution160M → 168M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.73× → 0.75×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$547.7M

−$118.5M

−$2.9M

—

FY2021

$768.4M

−$43.5M

—

FY2022

$2.4B

$91.5M

$59.0M

—

44,500,000

FY2023

$2.6B

−$97.7M

$286.5M

—

130,900,000

FY2024

$2.2B

−$215.1M

$112.3M

—

159,900,000

FY2025

$1.9B

−$369.0M

$19.6M

—

168,300,000

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of ProFrac Holding Corp. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	824,513	+36,251	$4.8M

Questions about ProFrac Holding Corp.

How many subsidiaries does ProFrac Holding Corp. file with the SEC?

44, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Texas, Delaware, Colorado, Louisiana). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is ProFrac Holding Corp. financially healthy?

ProFrac Holding Corp. scores 3 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of ProFrac Holding Corp.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.