MEDIUMOutside partyCustomer
45%
top ten customers
“10-K Item 1A: 'our top ten customers represented 45%, 37% and 41% of our consolidated revenues, respectively.'”
ACDC · Concentration risk · 10-K extracted
ProFrac Holding (ACDC) concentration risks
Updated
The most significant concentration ProFrac Holding discloses is top ten customers at 45%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: ProFrac Holding’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partySupplier
electric fleet equipment suppliers
“10-K Item 1A: 'our manufacturing business relies on a limited number of suppliers for major equipment to build our new electric-powered hydraulic fracturing fleets utilizing Clean Fleet® technology.'”
MEDIUMOutside partyCounterparty
Wilks Earthworks
“10-K Item 1A: 'Wilks Earthworks, LLC ("Earthworks"), an affiliate of the Wilks Parties, provides us those services at our Kermit, Lamesa and San Antonio Sand Mines pursuant to a Master Services Agreement'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06ProFrac Holding's concentration exposures are all dependency-type rather than structural, and each carries a moderate share of the business. Customer concentration is the largest of the three: the top ten customers represented 45% of consolidated revenues in the most recent fiscal year, meaning demand from a relatively small customer base drives a substantial portion of the top line. On the supply side, the manufacturing business relies on a limited number of suppliers for major equipment used to build its electric-powered hydraulic fracturing fleets utilizing Clean Fleet technology — a moderate dependency that could pressure fleet buildout timelines if disrupted. A third, related-party dependency comes from Wilks Earthworks, an affiliate of the Wilks Parties, which provides services at the company's Kermit, Lamesa and San Antonio sand mines under a Master Services Agreement. None of these rises to a structural, business-model-defining level, but the customer concentration is the one most likely to move results in the near term, since a pullback from several of the top ten customers would flow directly through revenue, while the supplier and related-party dependencies are more operational in nature.
For the engine’s reasoning on ACDC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Oil & Gas Equipment & Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AROC | Archrock, Inc. | 2 | 1 | 0 | 3 |
| AESI | Atlas Energy Solutions Inc. | 1 | 2 | 0 | 3 |
| FET | Forum Energy Technologies, Inc. | 1 | 1 | 0 | 2 |
| BKR | Baker Hughes Company | 1 | 0 | 0 | 1 |
| ACDC● | ProFrac Holding Corp. | 0 | 3 | 0 | 3 |
| CLB | Core Laboratories Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.