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Liberty Energy Inc.

LBRT

Energy Oil & Gas Equipment & Services

Liberty Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, down 7.16% from fiscal 2024.

Revenue
+26.3%
EPS
−188.9%
Free cash flow
−548.1%
Total debt
+213.5%

Quarter to September 2026, against a year earlier

11.96 0.61 +5.37%
Market cap
$2.0B
P/E
49.8×
Fwd P/E
68.8×
Dividend yield
3.01%
F-score
4/9
ROIC
1.42%
Net debt / EBITDA
0.8×
Dividend safety
49/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Net sold
$2.2M
Trades
11 sells · 5 buys
Ownership
2.16%

Capital & Financial Ratios $m

Size
Market Cap 1,950
Revenue ttm 4,445
Net income ttm 40
Free cash flow ttm (620)
Net debt Q 1,339
Valuation
P/E 49.8 (above 35: high)
Forward P/E 68.8 (above 35: high)
Price / sales 0.4
Forward P/S Powerpack
Price / FCF n/m
Price / book 1.0
Financial health
Current ratio Q 1.3
Debt / equity Q 0.8
Interest coverage Q 3.3
Growth
Revenue growth Q +26.3% (above 0%: growing)
Operating income growth Q +898.0% (above 0%: growing)
EPS, this year +44.8% (at or above 15%: strong)
EPS, next year A −82.0% (below 0%: weak)
Revenue, next year A +13.8% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +57.5% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 0.8×; over the ten years it ranged from 0.2× in 2020 to 2.4× in 2021.
P/E against its own 10 years 95.15%
10-year low 10-year high
P/S against its own 10 years 16.01%
10-year low 10-year high
P/B against its own 10 years 21.33%
10-year low 10-year high
EV/Sales against its own 10 years 45.58%
10-year low 10-year high

Dividends raised 4 years running

Yield
3.01%
Annual rate
0.36
Payout ratio
150.0%
Growth, 2018–25
+18.6%/yr
  1. 0.10 ’18
  2. 0.20 ’19 +100
  3. 0.05 ’20 −75
  4. 0.00 ’21 −100
  5. 0.05 ’22
  6. 0.22 ’23 +340
  7. 0.29 ’24 +32
  8. 0.33 ’25 +14
  9. 0.36 ’26e +9
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 37 20 28 119
Receivables 399 355 352 429
Inventory 206 203 188 181
Other 189 185 254 328
954 849 878 1,118
2023 2024 2025 Q'26
Payables 294 314 359 446
ST’ Debt — — 5 12
Other 5 41 8 —
639 667 720 857

Compound Annual Growth %

10y 5y 3y
Sales 24.29% 32.91% (1.16%)
Cash Flow 58.43% 48.15% 4.75%
Earnings 0.00% 0.00% (28.21%)
Book Value 31.54% 9.68% 11.56%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.08 Actual 0.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.16 0.05 Beat by 0.21
Q1 FY26 −0.13 0.06 Beat by 0.19
Q2 FY26 0.07 0.09 Beat by 0.02
Q3 FY26 0.08 0.06 Miss by 0.02
Q4 FY26 −0.02 — Reports 27 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.14 0.26 (0.24) — —
’25 0.12 0.43 0.26 0.08 0.89
’24 0.48 0.64 0.44 0.31 1.87
’23 0.90 0.87 0.85 0.54 3.15
’22 (0.03) 0.55 0.78 0.82 2.11
’21 (0.21) (0.29) (0.22) (0.31) (1.03)
’20 0.02 (0.55) (0.41) (0.41) (1.36)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,021 1,189 1,196 — —
’25 977 1,043 947 1,039 4,006
’24 1,073 1,160 1,139 944 4,315
’23 1,262 1,195 1,216 1,075 4,748
’22 793 943 1,188 1,226 4,149
’21 552 581 654 684 2,471
’20 472 88 147 258 966
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 8 133 223 — —
’25 192 171 51 195 610
’24 159 248 244 177 829
’23 204 240 275 295 1,015
’22 15 121 157 238 530
’21 28 8 45 55 135
’20 0 96 (27) 15 85
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (125) (88) (399) — —
’25 71 37 (62) (7) 39
’24 17 114 82 (11) 202
’23 74 89 114 161 438
’22 (76) (6) 62 122 102
’21 4 (34) (9) 1 (38)
’20 (45) 71 (38) (4) (15)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 375 1,490 2,155 1,990 966 2,471 4,149 4,748 4,315 4,006 4,445 +30.1% 4,557 4,885 5,535 +11.4%
Gross margin, % 5.35 23.01 24.42 18.55 11.16 8.94 24.11 29.46 25.83 20.92 18.02 +15.6 pt
EBT (61) 169 289 89 (192) (178) 400 735 403 195 52 n/m
EBT margin, % (16.16) 11.31 13.43 4.47 (19.83) (7.20) 9.63 15.48 9.35 4.87 1.16 +21.0 pt
Net income (61) 169 249 75 (161) (187) 400 556 316 148 40 n/m
Per share, $
Per share, $ Revenue 0.00 0.00 31.31 27.52 11.33 14.20 22.51 27.63 26.15 24.74 27.24 n/m
Earnings (0.87) 0.90 1.84 0.54 (1.36) (1.03) 2.17 3.24 1.91 0.91 0.24 n/m
Cash flow 0.00 0.00 5.10 3.61 1.00 0.78 2.88 5.90 5.03 3.76 3.43 n/m
Capex 0.00 0.00 (3.71) (2.69) (1.18) (1.00) (2.32) (3.35) (3.80) (3.52) (7.23) n/m
Free cash flow 0.00 0.00 1.39 0.92 (0.17) (0.22) 0.55 2.55 1.23 0.24 (3.80) n/m
Book value 0.00 0.00 10.76 10.80 15.37 7.07 8.12 10.72 11.99 12.84 11.77 n/m
Shares, m 0 0 69 72 85 174 184 172 165 162 163 n/m
Valuation, ×
Valuation, × P/E 54.84 54.84 7.04 18.85 0.00 0.00 6.76 5.62 10.41 20.29 49.83 17.9
P/S 0.78 0.78 0.41 0.40 0.91 0.68 0.65 0.66 0.76 0.75 0.44 0.7
P/B 2.97 2.97 1.20 1.03 0.67 1.37 1.80 1.69 1.66 1.44 1.02 1.7
EV/Sales 0.91 0.91 0.42 0.41 0.96 0.73 0.70 0.72 0.86 0.85 0.74 0.7
EV/FCF (11.73) (11.73) 9.34 12.32 (62.45) (47.33) 28.28 7.79 18.35 88.19 (5.31) 3.1
Cash, $m
Cash, $m Operating cash flow (41) 195 351 261 85 135 530 1,015 829 610 560 n/m
Capex (96) (310) (255) (194) (100) (173) (428) (576) (627) (571) (1,180) +21.9%
Free cash flow (137) (115) 96 67 (15) (38) 102 438 202 39 (620) n/m
Balance, $m
Balance, $m Working capital 42 132 241 222 211 61 307 315 182 158 261 +15.7%
Net debt 92 180 3 18 48 107 197 237 374 432 1,339 +18.7%
Shareholders’ equity 229 393 741 781 1,310 1,230 1,497 1,841 1,979 2,079 1,921 +27.8%
Returns, %
Returns, % ROA 0.00 0.00 12.84 3.25 (7.28) (9.12) 17.31 19.83 9.98 4.31 1.01 +4.3 pt
ROIC (10.59) 19.76 25.75 8.10 (8.15) (8.47) 18.29 22.87 10.35 1.81 1.42 +12.4 pt
ROE 0.00 0.00 22.29 5.12 (11.05) (14.11) 29.30 33.33 16.54 7.29 2.02 +7.3 pt
People
People Employees 1,859 2,032 2,437 2,571 1,946 3,601 4,580 5,500 5,700 5,800 — +13.5%
Revenue/emp, $m 0.20 0.73 0.88 0.77 0.50 0.69 0.91 0.86 0.76 0.69 — +14.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Liberty Energy Inc. vs peers in Oil & Gas Equipment & Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
EROK EagleRock Land LLC $2.6B — — — n/m — 79.13% (128.01%) Compare
EFXT Enerflex Ltd. $2.4B 33.4× — −19.82% (below 0%: shrinking) +50.13% (above 0%: growing) +147.62% (above 0%: growing) 22.79% 12.36% Compare
WTTR Select Water Solutions, Inc. $2.1B 60.1× 30.1× +8.67% (above 0%: growing) +70.00% (above 0%: growing) +56.98% (above 0%: growing) 19.41% 8.68% Compare
NESR National Energy Services Reunited $2.0B 21.2× 12.6× +59.07% (above 0%: growing) +175.00% (above 0%: growing) +45.79% (above 0%: growing) 15.61% 12.45% Compare
LBRT Liberty Energy Inc. $2.0B 49.8× 68.8× +26.26% (above 0%: growing) n/m −548.07% (below 0%: shrinking) 16.81% 1.61%
FLOC Flowco Holdings Inc. $1.8B 9.7× 12.9× +46.16% (above 0%: growing) +99.50% (above 0%: growing) +348.21% (above 0%: growing) 53.01% 18.53% Compare
INVX Innovex International, Inc. $1.8B 35.9× 27.5× +10.44% (above 0%: growing) −33.33% (below 0%: shrinking) −74.11% (below 0%: shrinking) 36.17% 12.20% Compare
NEXT NextDecade Corporation $1.6B 4.8× — — n/m +24.70% (above 0%: growing) 0.00% 0.00% Compare
XPRO Expro Group Holdings N.V. $1.5B 963× 16.3× +6.95% (above 0%: growing) n/m −23.77% (below 0%: shrinking) 21.65% 1.11% Compare
Median of peers $1.9B 33.4× 16.3× +9.56% +70.00% +45.79% 22.22% 10.44%

All 48 Oil & Gas Equipment & Services stocks →

Pay and ownership Proxy statement filed 5 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2024 5.84m 10.05m 199.13
2023 5.63m 9.82m 179.01
2022 5.75m 12.20m 155.77
2021 4.61m 3.95m 94.08
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Liberty Energy Inc. (LBRT) Latest News

29 Oct

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30 Jul

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27 Jul

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24 Jul

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stockrow.com/LBRT · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com