Liberty Energy Inc. (LBRT) vs National Energy Services Reunited (NESR)

Liberty Energy Inc. and National Energy Services Reunited are both Oil & Gas Equipment & Services companies. National Energy Services Reunited is the larger, with a market value of $3.3B against $3.0B — 1.1× the size. Liberty Energy Inc. trades at the lower P/E: 25.3× against 34.2×. National Energy Services Reunited grew revenue faster over the last twelve months: 23.6% against 2.29%. National Energy Services Reunited has the higher net margin (5.77% vs 2.92%) and the higher return on invested capital (8.28% vs 1.14%). Across the 21 metrics below, National Energy Services Reunited leads on 11 and Liberty Energy Inc. on 10.

Valuation

Metric LBRT NESR Oil & Gas Equipment & Services median
P/E 25.25 34.18 24.78
P/S 0.74 2.00 1.28
P/B 1.57 3.11 1.85
Price to free cash flow n/m 20.04 15.03
EV/EBITDA 7.64 11.48 8.93
EV/Sales 0.95 2.06 1.40
Earnings yield 3.96% 2.93% 3.12%
Free cash flow yield (9.15%) 4.99% 5.01%

Profitability

Metric LBRT NESR Oil & Gas Equipment & Services median
Gross margin 18.53% 13.37% 23.27%
Operating margin 1.25% 9.34% 9.34%
Net margin 2.92% 5.77% 4.69%
Free cash flow margin (6.73%) 9.99% 5.05%
Return on equity 6.12% 9.44% 4.92%
Return on assets 3.09% 4.76% 2.37%
Return on invested capital 1.14% 8.28% 4.32%

Growth

Metric LBRT NESR Oil & Gas Equipment & Services median
Revenue growth (TTM) 2.29% 23.55% 6.08%
EPS growth (last fiscal year) (52.41%) (35.00%) —
Revenue growth, 5-year CAGR 32.91% 9.68% 10.60%
Net income growth, 5-year CAGR 0.00% 0.41% 0.00%

Health

Metric LBRT NESR Oil & Gas Equipment & Services median
Debt to equity 0.75 0.26 0.46
Current ratio 1.99 1.02 2.11
Net debt to EBITDA 0.75 0.77 0.76

Dividend

Metric LBRT NESR Oil & Gas Equipment & Services median
Dividend yield 1.47% — 2.12%
Payout ratio 0.04 — 0.00

Size

Metric LBRT NESR Oil & Gas Equipment & Services median
Market cap 2.97b 3.30b 1.81b

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