NYSE : LBRT
Liberty Energy Inc. — Financial statements
Energy · Oil & Gas Equipment & Services · United States
Last price 17.41 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.84B
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Financial statements
Liberty Energy Inc. (LBRT) reported revenue of 4.44B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.44B | 4.01B | 4.32B | 4.75B | 4.15B | 2.47B |
| Cost of Revenue | 3.64B | 3.17B | 3.20B | 3.35B | 3.15B | 2.25B |
| Gross Profit | 800.93M | 838.01M | 1.11B | 1.40B | 1.00B | 220.86M |
| Selling, General & Admin | 251.02M | 237.24M | 225.47M | 221.41M | 180.04M | 123.41M |
| Operating Expenses | 719.91M | 737.57M | 730.52M | 642.92M | 503.07M | 386.16M |
| Operating Income | 81.02M | 100.44M | 384.13M | 755.64M | 497.12M | -165.31M |
| Interest Expense | -26.68M | -40.31M | -32.69M | -29.49M | -22.71M | -15.60M |
| Interest & Investment Income | 478.00K | 1.99M | ||||
| Other Non Operating Income (Expenses) | 147.00K | 147.00K | -3.21M | 1.82M | -76.19M | 19.04M |
| EBT Excluding Unusual Items | 54.48M | 60.28M | 348.71M | 729.95M | 398.22M | -161.87M |
| Merger & Restructuring Charges | -840.00K | -840.00K | -2.05M | -5.84M | -15.14M | |
| Gain (Loss) on Sale of Investments | 4.10M | 162.64M | 49.23M | 2.52M | ||
| Gain (Loss) on Sale of Assets | 4.20M | -16.69M | 5.34M | 6.99M | 4.60M | -779.00K |
| Other Unusual Items | -10.20M | -10.20M | ||||
| Pretax Income | 51.74M | 195.19M | 403.27M | 734.89M | 399.51M | -177.79M |
| Income Tax Expense | 11.44M | 47.32M | 87.26M | 178.48M | -793.00K | 9.22M |
| Earnings From Continuing Operations | 40.31M | 147.87M | 316.01M | 556.41M | 400.30M | -187.00M |
| Minority Interest in Earnings | -91.00K | -700.00K | 7.76M | |||
| Net Income | 40.31M | 147.87M | 316.01M | 556.32M | 399.60M | -179.24M |
| Net Income to Common | 40.31M | 147.87M | 316.01M | 556.32M | 399.60M | -179.24M |
| Shares Outstanding (Basic) | 162.56M | 161.93M | 165.03M | 171.84M | 184.33M | 174.02M |
| Shares Outstanding (Diluted) | 166.66M | 165.37M | 169.40M | 176.36M | 189.35M | 174.02M |
| EPS (Basic) | 0.25 | 0.91 | 1.91 | 3.24 | 2.17 | -1.03 |
| EPS (Diluted) | 0.24 | 0.89 | 1.87 | 3.15 | 2.11 | -1.03 |
| Free Cash Flow | -652.46M | 14.11M | 178.34M | 411.29M | 78.46M | -63.33M |
| Free Cash Flow Per Share | -3.92 | 0.09 | 1.05 | 2.33 | 0.41 | -0.36 |
| Dividend Per Share | 0.36 | 0.33 | 0.29 | 0.22 | 0.05 | |
| Gross Margin | 18.02% | 20.92% | 25.83% | 29.46% | 24.10% | 8.94% |
| Operating Margin | 1.82% | 2.51% | 8.90% | 15.92% | 11.98% | -6.69% |
| Profit Margin | 0.91% | 3.69% | 7.32% | 11.72% | 9.63% | -7.26% |
| Free Cash Flow Margin | -14.68% | 0.35% | 4.13% | 8.66% | 1.89% | -2.56% |
| EBITDA | 543.24M | 600.77M | 889.18M | 1.18B | 820.15M | 97.45M |
| EBITDA Margin | 12.22% | 15.00% | 20.61% | 24.79% | 19.77% | 3.94% |
| D&A For EBITDA | 462.22M | 500.33M | 505.05M | 421.51M | 323.03M | 262.76M |
| EBIT | 81.02M | 100.44M | 384.13M | 755.64M | 497.12M | -165.31M |
| EBIT Margin | 1.82% | 2.51% | 8.90% | 15.92% | 11.98% | -6.69% |
| Effective Tax Rate | 22.10% | 24.24% | 21.64% | 24.29% | ||
| Revenue as Reported | 4.44B | 4.01B | 4.32B | 4.75B | 4.15B | 2.47B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 118.97M | 27.55M | 19.98M | 36.78M | 43.68M | 20.00M |
| Cash & Short-Term Investments | 118.97M | 27.55M | 19.98M | 36.78M | 43.68M | 20.00M |
| Accounts Receivable | 756.76M | 605.37M | 539.86M | 587.47M | 586.01M | 407.45M |
| Receivables | 756.76M | 605.37M | 539.86M | 587.47M | 586.01M | 407.45M |
| Inventory | 181.07M | 188.12M | 203.47M | 205.87M | 214.45M | 134.59M |
| Prepaid Expenses | 44.75M | 40.22M | 85.21M | 122.64M | 105.23M | 68.33M |
| Other Current Assets | 16.70M | 16.70M | 1.50M | 7.30M | ||
| Total Current Assets | 1.12B | 877.97M | 848.52M | 954.25M | 956.67M | 630.38M |
| Property, Plant & Equipment | 2.50B | 2.46B | 2.25B | 1.92B | 1.50B | 1.33B |
| Long-Term Investments | 127.30M | 70.84M | 81.04M | 31.65M | ||
| Other Intangible Assets | 7.10M | |||||
| Long-Term Accounts Receivable | 14.79M | 11.80M | ||||
| Long-Term Deferred Tax Assets | 12.59M | 607.00K | ||||
| Other Long-Term Assets | 741.04M | 147.86M | 119.40M | 112.55M | 93.50M | 75.19M |
| Total Assets | 4.49B | 3.56B | 3.30B | 3.03B | 2.58B | 2.04B |
| Accounts Payable | 446.20M | 358.62M | 314.12M | 293.73M | 326.82M | 288.80M |
| Accrued Expenses | 189.35M | 145.19M | 133.12M | 161.45M | 160.88M | 125.21M |
| Current Portion of Long-Term Debt | 11.91M | 5.10M | 1.02M | 1.01M | ||
| Current Portion of Leases | 106.03M | 116.60M | 95.22M | 67.39M | 38.69M | 39.77M |
| Current Income Taxes Payable | 9.69M | 12.06M | 2.29M | |||
| Current Unearned Revenue | 4.55M | |||||
| Other Current Liabilities | 103.60M | 94.84M | 114.37M | 104.79M | 119.80M | 109.90M |
| Total Current Liabilities | 857.09M | 720.35M | 666.52M | 639.42M | 649.50M | 569.25M |
| Long-Term Debt | 1.28B | 241.51M | 190.50M | 140.00M | 217.43M | 121.44M |
| Long-Term Leases | 206.93M | 255.08M | 247.89M | 197.91M | 91.78M | 81.41M |
| Long-Term Deferred Tax Liabilities | 159.61M | 195.60M | 137.73M | 102.34M | 1.04M | 563.00K |
| Other Long-Term Liabilities | 66.87M | 66.87M | 74.89M | 112.47M | 118.87M | 37.55M |
| Total Liabilities | 2.57B | 1.48B | 1.32B | 1.19B | 1.08B | 810.22M |
| Common Stock | 1.63M | 1.62M | 1.62M | 1.67M | 1.79M | 1.86M |
| Additional Paid-In Capital | 842.98M | 978.38M | 977.48M | 1.09B | 1.27B | 1.37B |
| Retained Earnings | 1.09B | 1.11B | 1.02B | 752.33M | 234.53M | -155.95M |
| Comprehensive Income & Other | -18.91M | -13.86M | -19.75M | -6.08M | -7.40M | -306.00K |
| Total Common Equity | 1.92B | 2.08B | 1.98B | 1.84B | 1.50B | 1.21B |
| Minority Interest | 2.29M | 17.20M | ||||
| Shareholders' Equity | 1.92B | 2.08B | 1.98B | 1.84B | 1.50B | 1.23B |
| Total Liabilities & Equity | 4.49B | 3.56B | 3.30B | 3.03B | 2.58B | 2.04B |
| Total Debt | 1.60B | 618.29M | 533.61M | 405.31M | 348.92M | 243.63M |
| Net Cash (Debt) | -1.48B | -590.73M | -513.62M | -368.52M | -305.24M | -223.64M |
| Net Cash Per Share | -8.91 | -3.57 | -3.03 | -2.09 | -1.61 | -1.29 |
| Filing Date Shares Outstanding | 163.19M | 162.05M | 162.34M | 166.68M | 176.11M | 183.65M |
| Total Common Shares Outstanding | 163.19M | 161.98M | 161.86M | 166.61M | 178.75M | 183.39M |
| Working Capital | 261.17M | 157.62M | 182.00M | 314.83M | 307.18M | 61.13M |
| Book Value Per Share | 11.77 | 12.83 | 12.23 | 11.05 | 8.36 | 6.62 |
| Tangible Book Value | 1.92B | 2.08B | 1.98B | 1.84B | 1.50B | 1.21B |
| Tangible Book Value Per Share | 11.77 | 12.83 | 12.23 | 11.05 | 8.36 | 6.58 |
| Land | 27.06M | 26.47M | 30.04M | 29.38M | 29.28M | 33.81M |
| Buildings | 242.11M | 188.82M | 180.01M | 149.88M | 135.28M | 148.56M |
| Machinery | 3.38B | 3.27B | 3.14B | 2.60B | 2.00B | 1.71B |
| Construction In Progress | 326.63M | 294.82M | 211.89M | 156.59M | 158.52M | 89.60M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 40.31M | 147.87M | 316.01M | 556.32M | 399.60M | -179.24M |
| Depreciation & Amortization | 462.22M | 500.33M | 505.05M | 421.51M | 323.03M | 262.76M |
| Loss (Gain) From Sale of Assets | -4.20M | 16.69M | -5.34M | -6.99M | -4.60M | 779.00K |
| Loss (Gain) From Sale of Investments | -4.10M | -162.64M | -49.23M | -2.52M | ||
| Loss (Gain) on Equity Investments | 4.49M | 5.20M | 3.97M | |||
| Stock-Based Compensation | 36.44M | 41.92M | 32.41M | 33.03M | 23.11M | 19.95M |
| Other Operating Activities | 21.41M | 57.86M | 35.90M | 122.39M | 69.69M | -15.68M |
| Change in Accounts Receivable | -182.89M | -65.60M | 59.46M | -243.00K | -192.13M | -90.14M |
| Change in Inventory | 2.94M | 12.02M | 66.00K | -114.00K | -84.99M | -24.61M |
| Change in Accounts Payable | 165.49M | 97.55M | -40.74M | -45.13M | 55.34M | 167.91M |
| Change in Other Net Operating Assets | 17.64M | -41.61M | -28.20M | -66.18M | -56.16M | -6.25M |
| Operating Cash Flow | 559.74M | 609.60M | 829.37M | 1.01B | 530.36M | 135.47M |
| Capital Expenditures | -1.21B | -595.49M | -651.03M | -603.30M | -451.90M | -198.79M |
| Sale of Property, Plant & Equipment | 32.52M | 24.69M | 23.98M | 26.91M | 23.66M | 25.41M |
| Cash Acquisitions | -15.21M | -75.66M | ||||
| Investment in Securities | 60.44M | 150.97M | -16.06M | -20.28M | -22.41M | -13.11M |
| Investing Cash Flow | -1.12B | -435.04M | -643.11M | -672.33M | -450.66M | -186.49M |
| Long-Term Debt Issued | 1.67B | 2.24B | 1.15B | 713.00M | 274.00M | |
| Total Debt Issued | 1.77B | 1.67B | 2.24B | 1.15B | 713.00M | 274.00M |
| Long-Term Debt Repaid | -1.69B | -2.24B | -1.25B | -624.70M | -265.11M | |
| Net Debt Issued (Repaid) | 976.01M | -24.71M | 198.00K | -97.11M | 88.30M | 8.89M |
| Repurchase of Common Stock | -18.85M | -41.92M | -149.40M | -212.73M | -135.03M | -3.58M |
| Common Dividends Paid | -59.59M | -54.48M | -48.31M | -37.68M | -9.16M | -168.00K |
| Other Financing Activities | -232.26M | -46.45M | -5.19M | -1.79M | 120.00K | -3.08M |
| Financing Cash Flow | 665.32M | -167.54M | -202.71M | -349.31M | -55.77M | 2.06M |
| Foreign Exchange Rate Adjustments | -298.00K | 554.00K | -356.00K | 168.00K | -260.00K | -9.00K |
| Net Cash Flow | 105.52M | 7.57M | -16.80M | -6.89M | 23.68M | -48.98M |
| Free Cash Flow | -652.46M | 14.11M | 178.34M | 411.29M | 78.46M | -63.33M |
| Free Cash Flow Margin | -14.68% | 0.35% | 4.13% | 8.66% | 1.89% | -2.56% |
| Free Cash Flow Per Share | -3.92 | 0.09 | 1.05 | 2.33 | 0.41 | -0.36 |
| Levered Free Cash Flow | -618.44M | -10.18M | 194.28M | 262.85M | -30.56M | 75.36M |
| Unlevered Free Cash Flow | -601.76M | 15.01M | 214.72M | 281.28M | -16.36M | 85.12M |
| Cash Interest Paid | 29.66M | 39.73M | 33.08M | 26.65M | 20.31M | 13.27M |
| Cash Income Tax Paid | 11.05M | 35.86M | 66.69M | 10.74M | -9.48M | |
| Change in Working Capital | 3.18M | 2.36M | -9.40M | -111.67M | -277.94M | 46.91M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.75B | 2.99B | 3.25B | 3.06B | 2.92B | 1.73B |
| Enterprise Value | 4.24B | 3.60B | 3.70B | 3.48B | 3.28B | 1.97B |
| Last Close Price | 16.88 | 18.27 | 19.21 | 17.27 | 15.04 | 9.08 |
| PE Ratio | 70.12 | 20.22 | 10.29 | 5.50 | 7.30 | |
| Forward PE | 247.14 | 150.17 | 17.40 | 6.28 | 4.67 | 233.21 |
| PS Ratio | 0.62 | 0.75 | 0.75 | 0.64 | 0.70 | 0.70 |
| PB Ratio | 1.43 | 1.44 | 1.64 | 1.66 | 1.95 | 1.41 |
| P/TBV Ratio | 1.43 | 1.44 | 1.64 | 1.66 | 1.95 | 1.43 |
| P/FCF Ratio | 211.97 | 18.23 | 7.44 | 37.17 | ||
| P/OCF Ratio | 4.92 | 4.91 | 3.92 | 3.02 | 5.50 | 12.77 |
| PEG Ratio | 12.35 | 2.16 | 1.24 | 0.04 | 0.13 | 0.21 |
| EV/Sales Ratio | 0.95 | 0.90 | 0.86 | 0.73 | 0.79 | 0.80 |
| EV/EBITDA Ratio | 7.80 | 6.00 | 4.16 | 2.96 | 3.99 | 20.24 |
| EV/EBIT Ratio | 52.32 | 35.87 | 9.63 | 4.60 | 6.59 | |
| EV/FCF Ratio | 255.40 | 20.74 | 8.46 | 41.75 | ||
| Debt / Equity Ratio | 0.83 | 0.30 | 0.27 | 0.22 | 0.23 | 0.20 |
| Debt / EBITDA Ratio | 2.74 | 0.96 | 0.57 | 0.33 | 0.40 | 1.66 |
| Debt / FCF Ratio | 43.84 | 2.99 | 0.98 | 4.45 | ||
| Net Debt / Equity Ratio | 0.77 | 0.28 | 0.26 | 0.20 | 0.20 | 0.18 |
| Net Debt / EBITDA Ratio | 2.73 | 0.98 | 0.58 | 0.31 | 0.37 | 2.29 |
| Net Debt / FCF Ratio | -2.27 | 41.88 | 2.88 | 0.90 | 3.89 | -3.53 |
| Asset Turnover | 1.11 | 1.17 | 1.36 | 1.69 | 1.80 | 1.26 |
| Inventory Turnover | 19.94 | 16.18 | 15.64 | 15.94 | 18.04 | 17.77 |
| Quick Ratio | 1.02 | 0.88 | 0.84 | 0.98 | 0.97 | 0.75 |
| Current Ratio | 1.30 | 1.22 | 1.27 | 1.49 | 1.47 | 1.11 |
| Return on Equity (ROE) | 2.02% | 7.29% | 16.54% | 33.33% | 29.35% | -14.72% |
| Return on Assets (ROA) | 1.27% | 1.83% | 7.58% | 16.84% | 13.46% | -5.26% |
| Return on Invested Capital (ROIC) | 1.96% | 2.95% | 12.80% | 28.52% | 30.53% | -11.37% |
| Return on Capital Employed (ROCE) | 2.20% | 3.50% | 14.60% | 31.60% | 25.80% | -11.20% |
| Earnings Yield | 1.43% | 4.95% | 9.72% | 18.19% | 13.70% | -10.36% |
| FCF Yield | -23.69% | 0.47% | 5.49% | 13.45% | 2.69% | -3.66% |
| Dividend Yield | 2.37% | 1.79% | 1.44% | 1.20% | 0.31% | |
| Payout Ratio | 166.17% | 36.84% | 15.29% | 6.77% | 2.29% | |
| Buyback Yield / Dilution | -0.53% | 2.38% | 3.95% | 6.86% | -8.81% | -104.15% |
| Total Shareholder Return | 1.84% | 4.17% | 5.39% | 8.06% | -8.50% | -104.15% |