Skip to content
stoqly

Liberty Energy

LBRT NYSE Oil & Gas Equipment & Services Financials FY2016–FY2025

Liberty Energy's revenue fell 7.2% to $4.0 billion in fiscal 2025. Its operating margin was 1.8%, down from 9.0% a year earlier. Free cash flow was $14 million, down 92.1%. It paid out $79 million in dividends and buybacks, 563% of free cash flow. The diluted share count fell 2.4%.

Last close · Oct 23, 2026

$15.59

1.4%
Value it Compare
Revenue Total sales reported in the income statement.
$4.0B
7.2% vs prior year
Operating margin Operating income as a share of revenue.
1.8%
7.2 pts
Net income Profit after all expenses, interest and tax.
$148M
53.2%
Free cash flow Cash from operations minus capital spending.
$14.1M
92.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
2.2%
11.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.5B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
65.0x
On $0.24 EPS (TTM)

What Liberty Energy does

No business description yet.

Legal name
Liberty Energy Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001694028-26-000006
0001694028

Revenue and margins

Liberty Energy had $4.0B of revenue in fiscal 2025, down 7.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $14.1M in fiscal 2025, 0.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Liberty Energy returned $79.4M to shareholders in fiscal 2025, 563% of free cash flow. The diluted share count fell 2.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Liberty Energy yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$527M and divides by 165.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 65.0x · peers 39.0x · sector 16.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Liberty Energy can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $20.0M$43.7M$36.8M$20.0M$27.6M
Debt incl. finance leases $136M$252M$314M$461M$554M
Net debt / EBITDA 1.4x0.3x0.2x0.5x0.9x
Debt / equity 0.1x0.2x0.2x0.2x0.3x
Interest coverage −13.7x21.8x25.8x11.9x1.8x
Current ratio 1.1x1.5x1.5x1.3x1.2x
Quick ratio 0.9x1.1x1.2x1.0x1.0x
Total assets $2.0B$2.6B$3.0B$3.3B$3.6B
Total liabilities $810M$1.1B$1.2B$1.3B$1.5B
Shareholders' equity $1.2B$1.5B$1.8B$2.0B$2.1B
Net debt (− = net cash) $116M$209M$277M$441M$527M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.5M

1 insider

Sold, 12 months

$3.2M

3 insiders

Of sales under plans

53%

$1.7M

DateInsiderTradeSharesPriceValueFiling
Sep 1, 2026 Michael StockChief Financial Officer Sold plan 6,666 $19.84 $0.1M Form 4
Aug 4, 2026 Michael StockChief Financial Officer Sold plan 3,333 $20.00 $0.1M Form 4
Aug 3, 2026 Michael StockChief Financial Officer Sold plan 3,333 $17.95 $0.1M Form 4
Jul 28, 2026 Arjun N MurtiDirector Bought 14,053 $17.79 $0.3M Form 4
Jul 1, 2026 Michael StockChief Financial Officer Sold plan 9,999 $25.89 $0.3M Form 4
Jun 2, 2026 Michael StockChief Financial Officer Sold plan 3,333 $31.00 $0.1M Form 4
Jun 1, 2026 Michael StockChief Financial Officer Sold plan 13,332 $29.46 $0.4M Form 4
May 20, 2026 Michael StockChief Financial Officer Sold plan 19,998 $33.48 $0.7M Form 4
May 5, 2026 William F KimbleChairman of the Board, Director Sold 7,350 $33.92 $0.2M Form 4
Feb 17, 2026 Arjun N MurtiDirector Bought 9,696 $25.79 $0.3M Form 4
Feb 6, 2026 Elliott R SeanChief Legal Officer Sold 25,000 $25.40 $0.6M Form 4
Feb 6, 2026 Michael StockChief Financial Officer Sold 25,000 $25.38 $0.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✕ ✕ ✕
F-score 8 / 94 / 94 / 9
Accruals ratio −16.3%−16.2%−13.5%
Altman Z'' 4.803.742.92

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Liberty Energy LBRT $2.5B −7.2% 1.8% 0.4% 2.2% 65.0x 4
Weatherford International WFRD $6.3B −10.8% 15.4% 9.2% 29.7% 15.5x 6 Compare →
Oceaneering International OII $4.0B 4.6% 10.9% 7.5% 38.9% 12.0x 8 Compare →
NOV NOV $7.2B −1.4% 5.7% 10.0% 3.5% 79.0x 5 Compare →
RPC RES $1.3B 15.0% 2.8% 3.3% — 62.5x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $375M $1.5B $2.2B $2.0B $966M $2.5B $4.1B $4.7B $4.3B $4.0B
Gross profit $20.0M $343M $526M $369M $108M $221M $1.0B $1.4B $1.1B $838M
Operating income −$54.4M $181M $307M $104M −$177M −$181M $496M $761M $390M $72.7M
Interest expense $6.1M $12.6M $17.1M $14.7M $14.5M $13.3M $22.7M $29.5M $32.7M $40.3M
Pretax income $0.0M $0.0M $167M $88.9M −$192M −$178M $400M $735M $403M $195M
Income tax $0.0M $0.0M $40.4M $14.1M −$30.9M $9.2M −$0.8M $179M $87.3M $47.3M
Net income $0.0M $0.0M $126M $39.0M −$116M −$179M $400M $556M $316M $148M
Diluted EPS — — $1.81 $0.53 −$1.36 −$1.03 $2.11 $3.15 $1.87 $0.89
Diluted shares — — 0.12B 0.11B 0.09B 0.17B 0.19B 0.18B 0.17B 0.17B
Cash flow
Cash from operations −$40.7M $195M $351M $261M $85.4M $136M $530M $1.0B $829M $610M
Capital expenditure $102M $312M $259M $195M $104M $199M $452M $603M $651M $596M
Free cash flow −$143M −$117M $92.4M $65.9M −$18.2M −$63.3M $78.5M $411M $178M $14.1M
Depreciation and amortization $41.4M $81.5M $125M $165M $180M $263M $323M $422M $505M $500M
Stock-based compensation — $0.0M $5.5M $13.6M $17.1M $19.9M $23.1M $33.0M $32.4M $41.9M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $75.7M $0.0M $15.2M
Share buybacks $0.0M $0.0M $82.9M $18.4M $0.0M $0.0M $125M $203M $129M $24.9M
Dividends paid $0.0M $0.0M $6.9M $14.8M $4.4M $0.2M $9.2M $37.7M $48.3M $54.5M
Dividends and buybacks $0.0M $0.0M $89.8M $33.2M $4.4M $0.2M $134M $241M $178M $79.4M
Balance sheet
Cash and short-term investments $11.5M $16.3M $103M $113M $69.0M $20.0M $43.7M $36.8M $20.0M $27.6M
Total debt — $196M $107M $106M $106M $123M $218M $140M $191M $247M
Finance lease liabilities $0.0M $0.0M $0.0M $48.5M $31.9M $13.2M $33.9M $174M $270M $308M
Current assets — $352M $461M $489M $567M $630M $957M $954M $849M $878M
Current liabilities — $221M $220M $267M $356M $569M $650M $639M $667M $720M
Inventory $0.0M $55.5M $60.0M $88.5M $119M $135M $215M $206M $204M $188M
Property and equipment, net — $495M $627M $652M $1.1B $1.2B $1.4B $1.6B $1.9B $2.1B
Total assets — $852M $1.1B $1.3B $1.9B $2.0B $2.6B $3.0B $3.3B $3.6B
Total liabilities — $417M $376M $502M $580M $810M $1.1B $1.2B $1.3B $1.5B
Shareholders' equity $229M $0.0M $433M $555M $1.2B $1.2B $1.5B $1.8B $2.0B $2.1B
Margins
Gross margin 5.4% 23.0% 24.4% 18.6% 11.2% 8.9% 24.1% 29.5% 25.8% 20.9%
Operating margin −14.5% 12.2% 14.2% 5.2% −18.3% −7.3% 12.0% 16.0% 9.0% 1.8%
EBITDA margin −3.5% 17.6% 20.0% 13.5% 0.3% 3.3% 19.7% 24.9% 20.7% 14.3%
Net margin 0.0% 0.0% 5.9% 2.0% −12.0% −7.3% 9.6% 11.7% 7.3% 3.7%
FCF margin −38.2% −7.8% 4.3% 3.3% −1.9% −2.6% 1.9% 8.7% 4.1% 0.4%
Returns
Return on capital — — 35.3% 11.1% −12.7% −10.5% 32.5% 30.1% 13.5% 2.2%
Return on capital employed — — 40.1% 10.8% −13.9% −12.1% 29.2% 35.2% 15.5% 2.7%
Return on equity — — 58.4% 7.9% −13.6% −15.2% 29.5% 33.4% 16.5% 7.3%
Return on assets — — 12.8% 3.3% −7.3% −9.1% 17.3% 19.8% 10.0% 4.3%
Growth
Revenue growth — 297.5% 44.7% −7.7% −51.5% 155.8% 67.9% 14.4% −9.1% −7.2%
Net income growth — — — −69.1% −396.3% — — 39.2% −43.2% −53.2%
EPS growth — — — −70.7% −356.6% — — 49.3% −40.6% −52.4%
FCF growth — — — −28.7% −127.6% — — 424.2% −56.6% −92.1%
Share count change — — — −10.7% −19.0% 104.2% 8.8% −6.9% −4.0% −2.4%
Financial health
Net debt / EBITDA — 0.7x 0.0x 0.2x 22.5x 1.4x 0.3x 0.2x 0.5x 0.9x
Debt / equity — — 0.3x 0.3x 0.1x 0.1x 0.2x 0.2x 0.2x 0.3x
Interest coverage −8.9x 14.3x 17.9x 7.1x −12.2x −13.7x 21.8x 25.8x 11.9x 1.8x
Current ratio — 1.6x 2.1x 1.8x 1.6x 1.1x 1.5x 1.5x 1.3x 1.2x
Quick ratio — 1.3x 1.8x 1.5x 1.3x 0.9x 1.1x 1.2x 1.0x 1.0x
Capital allocation
Capex / revenue 27.3% 20.9% 12.0% 9.8% 10.7% 8.1% 10.9% 12.7% 15.1% 14.9%
Stock comp / revenue — 0.0% 0.3% 0.7% 1.8% 0.8% 0.6% 0.7% 0.8% 1.1%
Payouts / FCF — — 97.2% 50.3% — — 171.4% 58.5% 99.6% 562.6%
Quality scores
Piotroski F-score — — — 5.0 4.0 4.0 7.0 8.0 4.0 4.0
Altman Z'' — 3.4 5.7 3.7 2.5 1.0 3.8 4.8 3.7 2.9
Accruals ratio — — −22.9% −18.5% −12.7% −16.0% −5.7% −16.3% −16.2% −13.5%

Source: SEC EDGAR XBRL filings (CIK 0001694028). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

↑ ↓ to move · ↵ to open