A Business at a Glance
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Liberty Energy Inc.
LBRT
$2.9B
Mkt Cap
$17.36
-11.52%
Liberty Energy Inc. (LBRT) has a current P/E ratio of 19.5, compared to its historical median P/E of 8.3. The stock is currently considered Expensive based on its historical valuation range.
Liberty Energy Inc. (LBRT) has a 5-year average return on invested capital (ROIC) of 13.3%. This indicates solid capital allocation.
Liberty Energy Inc. (LBRT) has a market capitalization of $2.9B. It is classified as a mid-cap stock.
Yes, Liberty Energy Inc. (LBRT) pays a dividend with a trailing twelve-month yield of 1.94%. The company also returns capital through share buybacks, with a buyback yield of 0.03%.
Based on historical P/E analysis, Liberty Energy Inc. (LBRT) appears expensive. The current P/E of 19.5 is 136% above its historical median of 8.3. The estimated fair value CAGR (P/E method) is 17.7%.
Liberty Energy Inc. (LBRT) operates in the Oil & Gas Field Services, Nec industry, within the Energy sector.
Liberty Energy Inc. (LBRT) reported annual revenue of $4.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
PART I As used in this Annual Report, except as otherwise indicated or required by the context, all references in this Annual Report to (i) the “Company,” “Liberty,” “we,” “us” and “our” refer to Liberty Energy Inc. and its consolidated subsidiaries; and (ii) “Liberty LLC” refer to Liberty Oilfield Services New HoldCo LLC. Our Company The Company, together with its subsidiaries, is a leading integrated energy services and technology company, and one of the largest providers of innovative completions services and related technologies to onshore oil, natural gas, and enhanced geothermal exploration and production (“E&P”) companies.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.0B | 4.0B | 4.3B | 4.7B | 4.1B | 2.5B |
| Net Income | 150M | 148M | 316M | 556M | 400M | -179M |
| EPS | $0.91 | $0.89 | $1.87 | $3.15 | $2.11 | $-1.03 |
| Free Cash Flow | -193M | 14M | 178M | 411M | 78M | -63M |
| ROIC | 2.3% | 2.4% | 14.6% | 31.1% | 32.2% | -13.8% |
| Gross Margin | - | 20.9% | 25.8% | 29.5% | 24.1% | 8.9% |
| Debt/Equity | 0.66 | 0.15 | 0.13 | 0.13 | 0.21 | 0.19 |
| Dividends/Share | $0.34 | $0.33 | $0.29 | $0.22 | $0.05 | $0.00 |
| Operating Income | 77M | 73M | 389M | 761M | 496M | -181M |
| Operating Margin | 1.9% | 1.8% | 9.0% | 16.0% | 12.0% | -7.3% |
| ROE | 7.7% | 7.3% | 16.5% | 33.3% | 29.5% | -15.2% |
| Shares Outstanding | 166M | 166M | 169M | 177M | 189M | 174M |
| Metric | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 375M | 1.5B | 2.2B | 2.0B | 966M | 2.5B | 4.1B | 4.7B | 4.3B | 4.0B | 4.0B |
| Gross Margin | 5.3% | 23.0% | 24.4% | 18.5% | 11.2% | 8.9% | 24.1% | 29.5% | 25.8% | 20.9% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 36M | 80M | 98M | 98M | 84M | 123M | 180M | 221M | 225M | 247M | 241M |
| EBIT | -54M | 181M | 307M | 104M | -177M | -181M | 496M | 761M | 389M | 73M | 77M |
| Op. Margin | -14.5% | 12.2% | 14.2% | 5.2% | -18.3% | -7.3% | 12.0% | 16.0% | 9.0% | 1.8% | 1.9% |
| Net Income | N/A | N/A | 126M | 39M | -116M | -179M | 400M | 556M | 316M | 148M | 150M |
| Net Margin | N/A | N/A | 5.9% | 2.0% | -12.0% | -7.3% | 9.6% | 11.7% | 7.3% | 3.7% | 3.7% |
| Non-Recurring | 2.7M | 111K | 7.7M | -648K | 1.5M | -779K | 4.6M | 7.0M | 5.3M | -17M | -17M |
| Returns on Capital | |||||||||||
| ROIC | N/A | N/A | 75.4% | 16.8% | -12.1% | -13.8% | 32.2% | 31.1% | 14.6% | 2.4% | 2.3% |
| ROE | N/A | N/A | 29.2% | 7.9% | -13.6% | -15.2% | 29.5% | 33.3% | 16.5% | 7.3% | 7.7% |
| ROA | N/A | N/A | 12.8% | 3.3% | -7.3% | -9.1% | 17.3% | 19.8% | 10.0% | 4.3% | 3.4% |
| Cash Flow | |||||||||||
| Op. Cash Flow | -41M | 195M | 351M | 261M | 85M | 135M | 530M | 1.0B | 829M | 610M | 426M |
| Free Cash Flow | -143M | -117M | 92M | 66M | -18M | -63M | 78M | 411M | 178M | 14M | -193M |
| Owner Earnings | -82M | 114M | 221M | 82M | -112M | -147M | 184M | 560M | 292M | 67M | -93M |
| CapEx | 102M | 312M | 259M | 195M | 104M | 199M | 452M | 603M | 651M | 595M | 619M |
| Maint. CapEx | 41M | 81M | 125M | 165M | 180M | 263M | 323M | 422M | 505M | 500M | 487M |
| Growth CapEx | 61M | 230M | 134M | 30M | 0 | 0 | 129M | 182M | 146M | 95M | 132M |
| D&A | 41M | 81M | 125M | 165M | 180M | 263M | 323M | 422M | 505M | 500M | 487M |
| CapEx/OCF | N/A | N/A | 73.7% | 74.8% | 121.3% | 146.7% | 85.2% | 59.5% | 78.5% | 97.7% | 145.2% |
| Capital Allocation | |||||||||||
| Dividends Paid | 0 | 0 | 6.9M | 15M | 4.4M | 168K | 9.2M | 38M | 48M | 54M | 56M |
| Dividend Yield | N/A | N/A | 0.6% | 1.7% | 0.8% | 0.0% | 0.4% | 1.4% | 1.5% | 2.3% | 1.9% |
| Share Buybacks | 0 | 0 | 83M | 18M | 0 | 0 | 125M | 203M | 129M | 25M | 924K |
| Buyback Yield | N/A | N/A | 10.0% | 1.0% | N/A | N/A | 4.6% | 6.5% | 4.2% | 0.8% | 0.0% |
| Stock-Based Comp | N/A | 0 | 5.5M | 14M | 17M | 20M | 23M | 33M | 32M | 42M | 32M |
| Debt Repayment | 37M | 159M | 30M | 0 | 63K | 256M | 616M | 1.1B | 2.2B | 1.6B | 1.6B |
| Balance Sheet | |||||||||||
| Net Debt | -11M | 180M | 3.2M | 46M | 111M | 210M | 271M | 195M | 243M | 283M | 579M |
| Cash & Equiv. | 11M | 16M | 103M | 113M | 69M | 20M | 44M | 37M | 20M | 28M | 699M |
| Long-Term Debt | 0 | 196M | 106M | 106M | 105M | 121M | 217M | 140M | 191M | 242M | 1.3B |
| Debt/Equity | N/A | N/A | 0.25 | 0.29 | 0.16 | 0.19 | 0.21 | 0.13 | 0.13 | 0.15 | 0.66 |
| Interest Coverage | -8.9 | 14.3 | 17.9 | 7.1 | -12.2 | -113.4 | 21.8 | 25.8 | 22.9 | 3.5 | 3.7 |
| Equity | N/A | 0 | 433M | 555M | 1.2B | 1.2B | 1.5B | 1.8B | 2.0B | 2.1B | 1.9B |
| Total Assets | N/A | 852M | 1.1B | 1.3B | 1.9B | 2.0B | 2.6B | 3.0B | 3.3B | 3.6B | 4.4B |
| Total Liabilities | N/A | 417M | 376M | 502M | 580M | 810M | 1.1B | 1.2B | 1.3B | 1.5B | 2.5B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 0 | 119M | 143M | 23M | -156M | 235M | 752M | 1.0B | 1.1B | 1.1B |
| Working Capital | N/A | 132M | 241M | 222M | 211M | 61M | 307M | 315M | 182M | 158M | 921M |
| Current Assets | N/A | 352M | 461M | 489M | 567M | 630M | 957M | 954M | 849M | 878M | 1.7B |
| Current Liabilities | N/A | 221M | 220M | 266M | 356M | 569M | 649M | 639M | 667M | 720M | 760M |
| Per Share Data | |||||||||||
| EPS | N/A | N/A | 1.81 | 0.53 | -1.36 | -1.03 | 2.11 | 3.15 | 1.87 | 0.89 | 0.91 |
| Owner EPS | N/A | N/A | 3.16 | 1.12 | -1.32 | -0.85 | 0.97 | 3.17 | 1.73 | 0.41 | -0.56 |
| Book Value | N/A | N/A | 6.20 | 7.54 | 13.54 | 6.97 | 7.89 | 10.43 | 11.71 | 12.51 | 11.72 |
| Cash Flow/Share | N/A | N/A | 5.03 | 3.55 | 1.01 | 0.78 | 2.80 | 5.74 | 4.91 | 3.67 | 3.83 |
| Dividends/Share | N/A | N/A | 0.10 | 0.20 | 0.05 | 0.00 | 0.05 | 0.22 | 0.29 | 0.33 | 0.34 |
| Shares Out. | N/A | N/A | 69.8M | 73.6M | 85.0M | 174.0M | 189.4M | 176.6M | 169.0M | 166.1M | 166.3M |
| Valuation | |||||||||||
| P/E Ratio | N/A | N/A | 6.6 | 19.3 | N/A | N/A | 6.8 | 5.6 | 9.8 | 20.6 | 19.1 |
| P/FCF | N/A | N/A | 9.0 | 11.4 | N/A | N/A | 34.6 | 7.6 | 17.3 | 215.6 | N/A |
| EV/EBIT | N/A | N/A | 2.4 | 16.6 | N/A | N/A | 5.7 | 4.3 | 8.3 | 44.5 | 45.1 |
| Price/Book | N/A | N/A | 1.9 | 3.3 | 1.6 | 1.4 | 1.8 | 1.7 | 1.6 | 1.5 | 1.5 |
| Price/Sales | N/A | N/A | 0.6 | 1.1 | 1.3 | 0.8 | 0.6 | 0.6 | 0.8 | 0.6 | 0.7 |
| FCF Yield | N/A | N/A | 11.1% | 3.6% | -1.0% | -3.8% | 2.9% | 13.2% | 5.8% | 0.5% | -6.7% |
| Market Cap | N/A | N/A | 831M | 1.8B | 1.8B | 1.7B | 2.7B | 3.1B | 3.1B | 3.0B | 2.9B |
| Avg. Price | N/A | N/A | 17.63 | 12.13 | 6.55 | 11.40 | 13.62 | 15.11 | 19.64 | 14.35 | 17.36 |
| Year-End Price | N/A | N/A | 11.90 | 10.24 | 9.86 | 9.70 | 14.32 | 17.60 | 18.24 | 18.30 | 17.36 |
Liberty Energy Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Liberty Energy Inc. trades at 19.5x trailing earnings, compared to its 15-year median P/E of 8.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 199.4x vs a median of 11.4x. The company's 5-year average ROIC is 13.3% with a gross margin of 21.8%. Total shareholder yield (dividends) is 2.0%. At current prices, the estimated annualized return to fair value is +15.8%.
Liberty Energy Inc. (LBRT) has a net profit margin of 3.7%. This is a modest margin.
Liberty Energy Inc. (LBRT) generated $14 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Liberty Energy Inc. (LBRT) has a debt-to-equity ratio of 0.15. This indicates a conservatively financed balance sheet.
Liberty Energy Inc. (LBRT) reported earnings per share (EPS) of $0.89 in its most recent fiscal year.
Liberty Energy Inc. (LBRT) has a return on equity (ROE) of 7.3%. This indicates moderate shareholder returns.
Liberty Energy Inc. (LBRT) has a 5-year average gross margin of 21.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 10 years of financial data for Liberty Energy Inc. (LBRT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Liberty Energy Inc. (LBRT) has a book value per share of $12.51, based on its most recent annual SEC filing.