Liberty Energy Inc. (LBRT) vs WaterBridge Infrastructure LLC (WBI)

Liberty Energy Inc. and WaterBridge Infrastructure LLC are both Oil & Gas Equipment & Services companies. WaterBridge Infrastructure LLC is the larger, with a market value of $3.6B against $2.7B — 1.3× the size. Liberty Energy Inc. trades at the lower P/E: 22.1× against 356×. Liberty Energy Inc. has the higher net margin (2.92% vs −0.63%) and the lower return on invested capital (1.14% vs 2.15%). Both pay a dividend; Liberty Energy Inc. yields more (2.17% vs 0.53%). Across the 18 metrics below, Liberty Energy Inc. leads on 13 and WaterBridge Infrastructure LLC on 5.

Valuation

Metric LBRT WBI Oil & Gas Equipment & Services median
P/E 22.13 356.13 22.50
P/S 0.64 1.85 1.17
P/B 1.38 0.76 1.82
Price to free cash flow n/m n/m 13.72
EV/EBITDA 6.92 8.16 8.68
EV/Sales 0.86 3.94 1.34
Earnings yield 4.52% 0.28% 3.94%
Free cash flow yield (10.44%) (8.69%) 5.66%

Profitability

Metric LBRT WBI Oil & Gas Equipment & Services median
Gross margin 18.53% 56.99% 23.26%
Operating margin 1.25% 15.54% 9.34%
Net margin 2.92% (0.63%) 4.69%
Free cash flow margin (6.73%) (16.08%) 5.35%
Return on equity 6.12% (0.38%) 4.92%
Return on assets 3.09% (0.24%) 2.37%
Return on invested capital 1.14% 2.15% 4.32%

Growth

Metric LBRT WBI Oil & Gas Equipment & Services median
Revenue growth (TTM) 2.29% — 6.08%
EPS growth (last fiscal year) (52.41%) — (13.00%)
Revenue growth, 5-year CAGR 32.91% — 14.44%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric LBRT WBI Oil & Gas Equipment & Services median
Debt to equity 0.75 0.88 0.46
Current ratio 1.99 1.54 2.07
Net debt to EBITDA 0.75 6.16 0.75

Dividend

Metric LBRT WBI Oil & Gas Equipment & Services median
Dividend yield 2.17% 0.53% 1.51%
Payout ratio 0.49 1.88 0.38

Size

Metric LBRT WBI Oil & Gas Equipment & Services median
Market cap 2.73b 3.55b 1.63b

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