TechnipFMC vs Liberty Energy
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The short version
- TechnipFMC is the larger business, with $9.9B of revenue in fiscal 2025 against $4.0B for Liberty Energy, about 2.5 times as much.
- TechnipFMC grew revenue faster (9.4%, against −7.2%).
- TechnipFMC kept more of each dollar of sales as operating profit (14.5% operating margin, against 1.8%).
- TechnipFMC turned more of its sales into free cash flow (14.6% FCF margin, against 0.4%).
- TechnipFMC earned a higher return on the capital invested in it (37.2%, against 2.2%).
- Investors pay more for each dollar of Liberty Energy’s earnings: a P/E of 65.0x against 24.3x for TechnipFMC.
| Latest fiscal year | FTI · FY25 | LBRT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $28.3B | $2.5B |
| Revenue | $9.9B | $4.0B |
| Free cash flow | $1.4B | $14.1M |
| Net income | $964M | $148M |
| Growth | ||
| Revenue growth | 9.4% | −7.2% |
| 5-year growth | 8.8% | 32.9% |
| Share count change | −4.7% | −2.4% |
| Profitability | ||
| Gross margin | — | 20.9% |
| Operating margin | 14.5% | 1.8% |
| Net margin | 9.7% | 3.7% |
| FCF margin | 14.6% | 0.4% |
| Return on capital | 37.2% | 2.2% |
| Return on equity | 29.9% | 7.3% |
| Balance sheet | ||
| Net debt | −$510M | $527M |
| Net debt / EBITDA | −0.3x | 0.9x |
| Dividends and buybacks | $1.0B | $79.4M |
| Valuation & quality | ||
| P/E | 24.3x | 65.0x |
| Piotroski F-score | 8 | 4 |
Revenue
FY16
FTI $9.2B
LBRT $375M
FY17
FTI $15.1B
LBRT $1.5B
FY18
FTI $12.6B
LBRT $2.2B
FY19
FTI $7.0B
LBRT $2.0B
FY20
FTI $6.5B
LBRT $966M
FY21
FTI $6.4B
LBRT $2.5B
FY22
FTI $6.7B
LBRT $4.1B
FY23
FTI $7.8B
LBRT $4.7B
FY24
FTI $9.1B
LBRT $4.3B
FY25
FTI $9.9B
LBRT $4.0B
FTI
LBRT
Operating margin
FY16
FTI 8.3%
LBRT −14.5%
FY17
FTI 9.0%
LBRT 12.2%
FY18
FTI −4.2%
LBRT 14.2%
FY19
FTI −30.3%
LBRT 5.2%
FY20
FTI −49.7%
LBRT −18.3%
FY21
FTI 2.9%
LBRT −7.3%
FY22
FTI 5.6%
LBRT 12.0%
FY23
FTI 8.4%
LBRT 16.0%
FY24
FTI 12.7%
LBRT 9.0%
FY25
FTI 14.5%
LBRT 1.8%
FTI
LBRT
Free cash flow
FY16
FTI $181M
LBRT −$143M
FY17
FTI −$45.0M
LBRT −$117M
FY18
FTI −$554M
LBRT $92.4M
FY19
FTI $436M
LBRT $65.9M
FY20
FTI $401M
LBRT −$18.2M
FY21
FTI $590M
LBRT −$63.3M
FY22
FTI $194M
LBRT $78.5M
FY23
FTI $468M
LBRT $411M
FY24
FTI $679M
LBRT $178M
FY25
FTI $1.4B
LBRT $14.1M
FTI
LBRT
Return on capital
FY16
FTI —
LBRT —
FY17
FTI 11.5%
LBRT —
FY18
FTI −4.3%
LBRT 35.3%
FY19
FTI −16.9%
LBRT 11.1%
FY20
FTI −30.1%
LBRT −12.7%
FY21
FTI 1.7%
LBRT −10.5%
FY22
FTI 4.8%
LBRT 32.5%
FY23
FTI 9.4%
LBRT 30.1%
FY24
FTI 33.1%
LBRT 13.5%
FY25
FTI 37.2%
LBRT 2.2%
FTI
LBRT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.