Liberty Energy
LBRT · Oil & Gas Equipment & Services
$15.59
1.4%Oceaneering International
OII · Oil & Gas Equipment & Services
$39.27
7.2%The short version
- Liberty Energy is the larger business, with $4.0B of revenue in fiscal 2025 against $2.8B for Oceaneering International.
- Oceaneering International grew revenue faster (4.6%, against −7.2%).
- Oceaneering International kept more of each dollar of sales as operating profit (10.9% operating margin, against 1.8% operating margin).
- Oceaneering International turned more of its sales into free cash flow (7.5% FCF margin, against 0.4% FCF margin).
- Oceaneering International earned a higher return on the capital invested in it (38.9%, against 2.2%).
- Investors pay more for each dollar of Liberty Energy’s earnings: a P/E of 65.0x against 12.0x for Oceaneering International.
| Latest fiscal year | LBRT · FY25 | OII · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.5B | $4.0B |
| Revenue | $4.0B | $2.8B |
| Free cash flow | $14.1M | $208M |
| Net income | $148M | $354M |
| Growth | ||
| Revenue growth | −7.2% | 4.6% |
| 5-year growth | 32.9% | 8.8% |
| Share count change | −2.4% | −1.1% |
| Profitability | ||
| Gross margin | 20.9% | 20.4% |
| Operating margin | 1.8% | 10.9% |
| Net margin | 3.7% | 12.7% |
| FCF margin | 0.4% | 7.5% |
| Return on capital | 2.2% | 38.9% |
| Return on equity | 7.3% | 39.6% |
| Balance sheet | ||
| Net debt | $527M | −$209M |
| Net debt / EBITDA | 0.9x | −0.5x |
| Dividends and buybacks | $79.4M | $40.3M |
| Valuation & quality | ||
| P/E | 65.0x | 12.0x |
| Piotroski F-score | 4 | 8 |
FY16
LBRT $375M
OII $2.3B
FY17
LBRT $1.5B
OII $1.9B
FY18
LBRT $2.2B
OII $1.9B
FY19
LBRT $2.0B
OII $2.0B
FY20
LBRT $966M
OII $1.8B
FY21
LBRT $2.5B
OII $1.9B
FY22
LBRT $4.1B
OII $2.1B
FY23
LBRT $4.7B
OII $2.4B
FY24
LBRT $4.3B
OII $2.7B
FY25
LBRT $4.0B
OII $2.8B
LBRT
OII
FY16
LBRT −14.5%
OII 3.1%
FY17
LBRT 12.2%
OII 0.6%
FY18
LBRT 14.2%
OII −7.6%
FY19
LBRT 5.2%
OII −14.2%
FY20
LBRT −18.3%
OII −24.4%
FY21
LBRT −7.3%
OII 2.1%
FY22
LBRT 12.0%
OII 5.4%
FY23
LBRT 16.0%
OII 7.5%
FY24
LBRT 9.0%
OII 9.3%
FY25
LBRT 1.8%
OII 10.9%
LBRT
OII
FY16
LBRT −$143M
OII $227M
FY17
LBRT −$117M
OII $42.8M
FY18
LBRT $92.4M
OII −$72.9M
FY19
LBRT $65.9M
OII $9.9M
FY20
LBRT −$18.2M
OII $76.0M
FY21
LBRT −$63.3M
OII $175M
FY22
LBRT $78.5M
OII $39.8M
FY23
LBRT $411M
OII $109M
FY24
LBRT $178M
OII $96.1M
FY25
LBRT $14.1M
OII $208M
LBRT
OII
FY16
LBRT —
OII 2.1%
FY17
LBRT —
OII 0.4%
FY18
LBRT 35.3%
OII −5.9%
FY19
LBRT 11.1%
OII −13.7%
FY20
LBRT −12.7%
OII −29.4%
FY21
LBRT −10.5%
OII 4.0%
FY22
LBRT 32.5%
OII 8.4%
FY23
LBRT 30.1%
OII 16.9%
FY24
LBRT 13.5%
OII 24.0%
FY25
LBRT 2.2%
OII 38.9%
LBRT
OII
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