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Liberty Energy Inc. (LBRT)

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Liberty Energy Inc. (LBRT) reported revenue of $1.2 billion for Q2 FY2026, the quarter ended 30 June 2026, up 14.0% on the same quarter a year earlier. Net income was $43 million, down 39.3% on the year, and diluted earnings per share $0.26. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2026.

Revenue$1.2 billionup 14.0%
Net income$43 milliondown 39.3%
Diluted EPS$0.26
QuarterQ2 FY2026ended 30 June 2026

Liberty Energy (LBRT) in brief

Liberty Energy (LBRT) reported revenue of $4.0 billion for fiscal 2025, the year ended 31 December 2025, down 7.2% on the year before.
Read moreNet income was $148 million and diluted earnings per share $0.89. Revenue was $4.3 billion in fiscal 2024, $4.7 billion in fiscal 2023, $4.1 billion in fiscal 2022 and $2.5 billion in fiscal 2021. Net income in the same years was $316 million, $556 million, $400 million and a loss of $179 million. Over the twelve months to 30 June 2026, Liberty Energy reported revenue of $4.2 billion and net income of $122 million. Revenue grew 32.9% a year, compounded, over the five years to fiscal 2025. Liberty Energy declared $0.33 a share in dividends over the last four quarters. At 30 June 2026 it carried $1.3 billion of debt and $555 million of cash. At the close of 9 October 2026 the market cap of Liberty Energy was $3.2 billion, 25.7 times its earnings over the last twelve months.

Ratios

From the filings

ROE6.2%
ROCE1.6%
Operating margin1.3%
Net margin2.9%
FCF margin-7.5%
Interest cover1.66
Debt to equity0.66
Cash conversion3.17
Share count, 1 yearn/a
Sales CAGR, 3 years-1.2%
Profit CAGR, 3 years-28.2%
EPS, TTM$0.74

At the close of 9 October 2026

Price$19.01
Market cap$3.2 billion
Stock P/E25.69
Price to book1.62
EV / EBITDA7.49
Dividend yield1.7%
Market cap / sales0.76
52-week high$33.93
52-week low$11.94
Price, 1 year51.4%
Price CAGR, 3 years1.7%
Price CAGR, 5 years6.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Liberty Energy Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
LBRTgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LBRT

Filings20 in twelve months: 12 current reports (8-K), about 6 material agreement; 4 results of operations; 3 new financial obligation; 3 other events; 2 unregistered sale of equity
Planned insider sales12 Form 144 notices in twelve months, $3.3 million; latest 6 October 2026
Options tapeput/call 0.1 by open interest at the 9 October 2026 close; the straddle prices a 6.6% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Geode Capital Management; 3 Schedule 13D or 13G filings in twelve months
Insider trading12 sales and 2 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest17.4 million shares short, 4.17 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,2161,0751,0731,1601,1399449771,0439471,0391,0211,189
Cost of revenue850777783836840742762812770825844980
Gross profit366298290324298202216230178214177208
Gross margin30%28%27%28%26%21%22%22%19%21%17%18%
Operating income20512411514210724.918.237.1-2.419.922.312.7
Operating margin17%12%11%12%9%3%2%4%-0%2%2%1%
Interest expense7.3n/a7.18.18.68.59.510.210.99.77.73.4
Net income14992.481.910873.851.920.171.043.113.722.643.1
Net margin12%9%8%9%6%5%2%7%5%1%2%4%
Diluted EPS$0.85$0.54$0.48$0.64$0.44$0.31$0.12$0.43$0.26$0.08$0.14$0.26
Operating cash flow27529515924824417719217151.51958.4133
Capital expenditure173138145136167203134138119205157224
Free cash flow10315714.411277.9-26.258.233.1-67.2-10.0-149-90.8
Buybacks29.339.130.229.639.430.224.00.90.00.00.00.0
Dividends paid8.411.711.612.211.413.013.213.813.014.614.615.7
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 10 fiscal years and the trailing twelve months

FY2016FY2017FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue3751,4902,1551,9909662,4714,1494,7484,3154,0064,196
Cost of revenue3551,1471,6291,6218582,2503,1493,3493,2013,1683,418
Gross profit20.03435263691082211,0001,3991,115838777
Gross margin5.3%23.0%24.4%18.5%11.2%8.9%24.1%29.5%25.8%20.9%18.5%
Operating income-54.4181307104-177-18149676138972.752.5
Operating margin-14.5%12.2%14.2%5.2%-18.3%-7.3%12.0%16.0%9.0%1.8%1.3%
Interest expense6.112.617.114.714.5n/a22.729.532.740.331.7
Pre-tax incomen/an/an/a88.9-192-178400735403195n/a
Income tax0.00.040.414.1-30.99.2-0.817887.347.333.8
Effective tax raten/an/an/a15.8%n/an/a-0.2%24.3%21.6%24.2%n/a
Net income0.00.012639.0-116-179400556316148122
Net margin0.0%0.0%5.9%2.0%-12.0%-7.3%9.6%11.7%7.3%3.7%2.9%
Diluted EPSn/an/a$1.81$0.53-$1.36-$1.03$2.11$3.15$1.87$0.89$0.74
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2016FY2017FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-40.719535126185.41355301,015829610388
Capital expenditure102312259195104199452603651595705
Free cash flow-143-11792.465.9-18.2-63.378.541117814.1-317
Free cash flow margin-38.2%-7.8%4.3%3.3%-1.9%-2.6%1.9%8.7%4.1%0.4%-7.5%
Cash from investing-96.4-310-255-194-100-186-451-672-643-435-610
Cash from financing149120-8.8-57.4-28.92.1-55.8-349-203-168759
Depreciation and amortisation41.481.5125165180263323422505500471
Share-based compensationn/a0.05.513.617.119.923.133.032.441.933.7
Buybacks0.00.082.918.40.00.012520312924.90.0
Dividends paid0.00.06.914.84.40.29.237.748.354.557.9
Dividend per sharen/an/an/a$0.20$0.05n/a$0.05$0.22$0.29$0.33n/a
Diluted shares, weightedn/an/a118m105m85m174m189m176m169m165m168m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016FY2017FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity229n/a4335551,1511,2131,4951,8411,9792,0791,964
Non-controlling interestn/a0.030822715917.22.30.0n/an/an/a
Redeemable equityn/a42.50.0n/an/an/an/an/an/an/an/a
Debtn/a1961071061061222181401902471,292
Operating lease liabilitiesn/an/a0.036.750.477.069.364.344.441.837.4
Finance lease liabilitiesn/an/a0.024.911.34.422.5134204213181
Other liabilitiesn/a6132693344126067688548799781,014
Total liabilities and equityn/a8521,1171,2831,8902,0412,5763,0343,2963,5584,488
Owned
Fixed assetsn/a4956276521,1211,1991,3621,6451,8912,0542,263
Investmentsn/an/an/an/an/an/an/an/an/a124191
Cash and equivalents11.516.310311369.020.043.736.820.027.6555
Receivablesn/a196154204244299410n/an/a352516
Inventoryn/a55.560.088.5119135214206203188185
Other assetsn/a89.51732263373885451,1461,182813777
Total assetsn/a8521,1171,2831,8902,0412,5763,0343,2963,5584,488
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a32.9%-1.2%2.3%
Profit growth, compoundedn/an/a-28.2%-43.5%
Return on equity, average10.2%13.0%17.8%7.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Liberty Energy's revenue in fiscal 2025?

Liberty Energy (LBRT) reported revenue of $4.0 billion for fiscal 2025, the year ended 31 December 2025, down 7.2% on the year before.

How much did Liberty Energy earn in fiscal 2025?

Net income was $148 million for fiscal 2025, and diluted earnings per share $0.89.

What is Liberty Energy's P/E ratio?

At the close of 9 October 2026, Liberty Energy traded at 25.7 times its earnings over the twelve months to 30 June 2026.

What is Liberty Energy's market cap?

The market cap of Liberty Energy was $3.2 billion at the close of 9 October 2026.

Does Liberty Energy pay a dividend?

Yes. Liberty Energy declared $0.33 a share in dividends over the four quarters to 30 June 2026.

Peers: Petroleum and Natural Gas

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
SLB Limited SLB$72.6 billion23.6511.9%n/a2.5%0.43n/a
Halliburton Co. HAL$27.1 billion17.0314.6%11.4%0.6%0.642.1%
Oceaneering International Inc. OII$4.5 billion12.9130.1%10.4%3.8%0.420.0%
Comstock Resources Inc. CRK$4.0 billion7.7019.7%28.8%31.6%1.200.0%
Helmerich & Payne, Inc. HP$4.0 billionn/a-5.1%2.3%16.6%0.700.6%
Valvoline Inc. VVV$3.9 billion37.8824.4%15.3%16.1%3.840.4%
Liberty Energy Inc. LBRT$3.2 billion25.696.2%1.3%2.3%0.661.7%
Gulfport Energy Corp. GPOR$2.9 billion6.5027.2%45.0%35.2%0.50n/a
Talos Energy Inc. TALO$2.8 billionn/a-19.9%-12.7%2.4%0.60n/a
Quaker Chemical Corp. KWR$2.7 billion27.787.1%7.7%7.8%0.621.3%
Northern OIL & Gas, Inc. NOG$2.6 billionn/a-24.4%-24.1%-25.6%1.377.3%
RPC Inc. RES$1.3 billion66.222.1%1.9%25.4%0.022.7%
All 54 in Petroleum and Natural Gas
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
ExxonMobil Holdings Corp. XOM$694.8 billion21.7212.6%12.3%9.1%0.122.4%
Chevron Corp. CVX$418.8 billion20.3210.8%14.2%10.2%0.193.2%
Shell plc SHEL *$285.1 billion16.7010.2%n/a-6.1%0.433.0%
TotalEnergies SE TTE *$190.0 billion14.9011.4%n/a-6.2%0.534.3%
Petróleo Brasileiro S.A. (Petrobras) PBR *$163.0 billion8.3226.0%29.3%-2.4%0.355.0%
ConocoPhillips COP$161.1 billion17.7414.2%n/a9.6%0.352.4%
Marathon Petroleum Corp. MPC$127.8 billion15.6444.8%9.2%15.0%1.610.8%
BP plc BP *$127.1 billionn/a0.1%6.6%-1.1%1.094.0%
Valero Energy Corp. VLO$124.9 billion18.0028.8%7.2%12.6%0.361.0%
Phillips 66 PSX$111.0 billion15.8822.5%n/a14.4%0.601.7%
Equinor ASA EQNR *$107.5 billion22.1712.5%23.8%2.6%0.690.3%
Canadian Natural Resources Limited CNQ *$103.4 billion13.7124.4%n/a8.7%0.373.4%
Suncor Energy Inc. SU *$86.2 billion21.2313.1%n/a-4.6%0.222.3%
Eni S.p.A. E *$82.8 billion31.875.4%6.1%-7.5%0.594.2%
EOG Resources Inc. EOG$77.7 billion11.5321.6%32.9%19.1%0.252.7%
SLB Limited SLB$72.6 billion23.6511.9%n/a2.5%0.43n/a
Occidental Petroleum Corp. OXY$60.1 billionn/an/an/an/a0.311.6%
Diamondback Energy, Inc. FANG$53.9 billion37.453.9%6.3%21.4%0.332.2%
Devon Energy Corp. DVN$53.1 billion11.467.9%16.7%14.6%0.272.2%
Woodside Energy Group Ltd. WDS *$42.9 billion15.897.6%30.0%-1.5%0.334.7%
EQT Corp. EQT$33.0 billion12.2610.7%42.5%32.3%0.221.2%
Halliburton Co. HAL$27.1 billion17.0314.6%11.4%0.6%0.642.1%
Expand Energy Corp. EXE$20.4 billion7.6214.3%26.9%59.3%0.190.0%
Permian Resources Corp. PR$19.3 billion15.2510.3%35.8%12.8%0.252.6%
Ovintiv Inc. OVV$17.7 billion18.058.0%9.7%6.0%0.321.9%
APA Corp. APA$16.1 billion9.7023.9%44.4%-16.1%0.532.2%
Antero Resources Corp. AR$11.1 billion10.3213.0%24.7%25.8%0.31n/a
PBF Energy Inc. PBF$10.2 billion7.4621.1%5.8%13.5%0.271.4%
Range Resources Corp. RRC$9.6 billion11.2918.3%32.1%23.2%0.180.9%
SM Energy Co. SM$8.8 billion7.3012.8%29.6%75.4%0.852.2%
Viper Energy, Inc. VNOM$8.3 billion330.621.2%12.3%n/a0.33n/a
Chord Energy Corp. CHRD$7.8 billion9.4910.2%19.0%19.2%0.183.7%
Noble Corp. plc NE$6.8 billion45.573.3%11.4%-11.1%0.424.7%
Matador Resources Co. MTDR$6.7 billion9.3112.2%32.2%-3.6%0.712.6%
CVR Energy Inc. CVI$5.8 billion85.3113.1%4.1%17.9%3.248.4%
Valaris Ltd. VAL$5.8 billion6.2529.2%11.3%-13.2%0.340.0%
Magnolia Oil & Gas Corp. MGY$5.7 billion10.5719.8%38.0%11.4%0.182.5%
Murphy OIL Corp. MUR$5.5 billion19.155.6%18.5%8.3%0.293.5%
CNX Resources Corp. CNX$5.1 billion5.7319.6%44.4%61.9%0.460.0%
California Resources Corp. CRC$4.7 billionn/a-3.6%-1.7%-22.5%0.383.0%
Oceaneering International Inc. OII$4.5 billion12.9130.1%10.4%3.8%0.420.0%
Patterson UTI Energy Inc. PTEN$4.3 billionn/a-2.9%-1.1%-6.9%0.402.8%
Crescent Energy Co. CRGY$4.2 billionn/a1.1%20.6%24.3%1.00n/a
PAR Pacific Holdings, Inc. PARR$4.1 billion4.8143.2%13.4%13.2%0.37n/a
Comstock Resources Inc. CRK$4.0 billion7.7019.7%28.8%31.6%1.200.0%
Helmerich & Payne, Inc. HP$4.0 billionn/a-5.1%2.3%16.6%0.700.6%
Valvoline Inc. VVV$3.9 billion37.8824.4%15.3%16.1%3.840.4%
Liberty Energy Inc. LBRT$3.2 billion25.696.2%1.3%2.3%0.661.7%
Gulfport Energy Corp. GPOR$2.9 billion6.5027.2%45.0%35.2%0.50n/a
Talos Energy Inc. TALO$2.8 billionn/a-19.9%-12.7%2.4%0.60n/a
Quaker Chemical Corp. KWR$2.7 billion27.787.1%7.7%7.8%0.621.3%
Northern OIL & Gas, Inc. NOG$2.6 billionn/a-24.4%-24.1%-25.6%1.377.3%
Atlas Energy Solutions Inc. AESI$1.5 billionn/a-10.6%-8.3%-8.1%0.826.1%
RPC Inc. RES$1.3 billion66.222.1%1.9%25.4%0.022.7%
4 companies share its SEC industry code (Oil & Gas Field Services, Nec); the rest are the names nearest in size in its wider industry, Petroleum and Natural Gas, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202623 July 2026EDGAR
10-Q31 March 202623 April 2026EDGAR
10-K31 December 20252 February 2026EDGAR
10-Q30 September 202517 October 2025EDGAR
10-Q30 June 202525 July 2025EDGAR
10-Q31 March 202517 April 2025EDGAR
10-K31 December 20246 February 2025EDGAR
10-Q30 September 202417 October 2024EDGAR
10-Q30 June 202418 July 2024EDGAR
10-Q31 March 202418 April 2024EDGAR

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