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Stocks · Energy · Oil & Gas Field Services, NEC

Liberty Energy Inc.

LBRT Clue Score51
United States Fiscal year ends December CIK 0001694028
$19.00 +0.80% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $19.00 +37.58% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 11 Jan 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue374.8Operating income−54.4Net income0.0Fiscal year 2017Revenue1,489.9 +297.5%Operating income181.1Net income0.0Fiscal year 2018Revenue2,155.1 +44.7%Operating income306.6Net income126.3EPS, diluted1.81Fiscal year 2019Revenue1,990.3 −7.6%Operating income103.6Net income39.0 −69.1%EPS, diluted0.53Fiscal year 2020Revenue965.8 −51.5%Operating income−177.0Net income−115.6 −396.3%EPS, diluted−1.36Fiscal year 2021Revenue2,470.8 +155.8%Operating income−181.2Net income−179.2EPS, diluted−1.03Fiscal year 2022Revenue4,149.2 +67.9%Operating income495.9Net income399.6EPS, diluted2.11Fiscal year 2023Revenue4,747.9 +14.4%Operating income760.6Net income556.3 +39.2%EPS, diluted3.15Fiscal year 2024Revenue4,315.2 −9.1%Operating income389.5Net income316.0 −43.2%EPS, diluted1.87Fiscal year 2025Revenue4,006.1 −7.2%Operating income72.7Net income147.9 −53.2%EPS, diluted0.89
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 374.8 1,489.9 2,155.1 1,990.3 965.8 2,470.8 4,149.2 4,747.9 4,315.2 4,006.1
Growth +297.5% +44.7% −7.6% −51.5% +155.8% +67.9% +14.4% −9.1% −7.2%
Operating income −54.4 181.1 306.6 103.6 −177.0 −181.2 495.9 760.6 389.5 72.7
Net income 0.0 0.0 126.3 39.0 −115.6 −179.2 399.6 556.3 316.0 147.9
Growth −69.1% −396.3% +39.2% −43.2% −53.2%
EPS, diluted n/a n/a 1.81 0.53 −1.36 −1.03 2.11 3.15 1.87 0.89

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−14.5%Net margin0.0%Free cash flow margin−38.2%Fiscal year 2017Operating margin12.2%Net margin0.0%Free cash flow margin−7.8%Fiscal year 2018Operating margin14.2%Net margin5.9%Free cash flow margin4.3%Fiscal year 2019Operating margin5.2%Net margin2.0%Free cash flow margin3.3%Fiscal year 2020Operating margin−18.3%Net margin−12.0%Free cash flow margin−1.9%Fiscal year 2021Operating margin−7.3%Net margin−7.3%Free cash flow margin−2.6%Fiscal year 2022Operating margin12.0%Net margin9.6%Free cash flow margin1.9%Fiscal year 2023Operating margin16.0%Net margin11.7%Free cash flow margin8.7%Fiscal year 2024Operating margin9.0%Net margin7.3%Free cash flow margin4.1%Fiscal year 2025Operating margin1.8%Net margin3.7%Free cash flow margin0.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −14.5% 12.2% 14.2% 5.2% −18.3% −7.3% 12.0% 16.0% 9.0% 1.8%
Net margin 0.0% 0.0% 5.9% 2.0% −12.0% −7.3% 9.6% 11.7% 7.3% 3.7%
Free cash flow margin −38.2% −7.8% 4.3% 3.3% −1.9% −2.6% 1.9% 8.7% 4.1% 0.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−40.7Capital expenditure−102.4Free cash flow−143.1Buybacks0.0Dividends paid0.0Fiscal year 2017Operating cash flow195.1Capital expenditure−311.8Free cash flow−116.7Buybacks0.0Dividends paid0.0Fiscal year 2018Operating cash flow351.3Capital expenditure−258.8Free cash flow92.4Buybacks−82.9Dividends paid−6.9Fiscal year 2019Operating cash flow261.1Capital expenditure−195.2Free cash flow65.9 −28.7%Buybacks−18.4Dividends paid−14.8Fiscal year 2020Operating cash flow85.4Capital expenditure−103.6Free cash flow−18.2 −127.6%Buybacks0.0Dividends paid−4.4Fiscal year 2021Operating cash flow135.5Capital expenditure−198.8Free cash flow−63.3Buybacks0.0Dividends paid−0.2Fiscal year 2022Operating cash flow530.4Capital expenditure−451.9Free cash flow78.5Buybacks−125.3Dividends paid−9.2Fiscal year 2023Operating cash flow1,014.6Capital expenditure−603.3Free cash flow411.3 +424.2%Buybacks−203.1Dividends paid−37.7Fiscal year 2024Operating cash flow829.4Capital expenditure−651.0Free cash flow178.3 −56.6%Buybacks−129.3Dividends paid−48.3Fiscal year 2025Operating cash flow609.6Capital expenditure−595.5Free cash flow14.1 −92.1%Buybacks−24.9Dividends paid−54.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −40.7 195.1 351.3 261.1 85.4 135.5 530.4 1,014.6 829.4 609.6
Capital expenditure −102.4 −311.8 −258.8 −195.2 −103.6 −198.8 −451.9 −603.3 −651.0 −595.5
Free cash flow −143.1 −116.7 92.4 65.9 −18.2 −63.3 78.5 411.3 178.3 14.1
Growth −28.7% −127.6% +424.2% −56.6% −92.1%
Buybacks 0.0 0.0 −82.9 −18.4 0.0 0.0 −125.3 −203.1 −129.3 −24.9
Dividends paid 0.0 0.0 −6.9 −14.8 −4.4 −0.2 −9.2 −37.7 −48.3 −54.5

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash11.5Shareholders’ equity229.0Fiscal year 2017Cash16.3Total debt196.4Net cash (debt)−180.0Shareholders’ equity0.0Fiscal year 2018Cash103.3Total debt106.5Net cash (debt)−3.2Shareholders’ equity433.1Debt to equity0.25Fiscal year 2019Cash112.7Total debt106.1Net cash (debt)6.6Shareholders’ equity554.8Debt to equity0.19Fiscal year 2020Cash69.0Total debt105.8Net cash (debt)−36.8Shareholders’ equity1,150.6Debt to equity0.09Fiscal year 2021Cash20.0Total debt122.5Net cash (debt)−102.5Shareholders’ equity1,213.2Debt to equity0.10Fiscal year 2022Cash43.7Total debt218.4Net cash (debt)−174.8Shareholders’ equity1,495.0Debt to equity0.15Fiscal year 2023Cash36.8Total debt140.0Net cash (debt)−103.2Shareholders’ equity1,841.4Debt to equity0.08Fiscal year 2024Cash20.0Total debt190.5Net cash (debt)−170.5Shareholders’ equity1,978.9Debt to equity0.10Fiscal year 2025Cash27.6Total debt246.6Net cash (debt)−219.1Shareholders’ equity2,078.9Debt to equity0.12
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 11.5 16.3 103.3 112.7 69.0 20.0 43.7 36.8 20.0 27.6
Total debt n/a 196.4 106.5 106.1 105.8 122.5 218.4 140.0 190.5 246.6
Net cash (debt) n/a −180.0 −3.2 6.6 −36.8 −102.5 −174.8 −103.2 −170.5 −219.1
Shareholders’ equity 229.0 0.0 433.1 554.8 1,150.6 1,213.2 1,495.0 1,841.4 1,978.9 2,078.9
Debt to equity n/a n/a 0.25 0.19 0.09 0.10 0.15 0.08 0.10 0.12

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−14.5% 12.2% 14.2% 5.2% −18.3% −7.3% 12.0% 16.0% 9.0% 1.8%
n/a n/a n/a 4.5% −19.8% −7.2% 9.6% 15.5% 9.3% 4.9%
0.0% 0.0% 5.9% 2.0% −12.0% −7.3% 9.6% 11.7% 7.3% 3.7%
−38.2% −7.8% 4.3% 3.3% −1.9% −2.6% 1.9% 8.7% 4.1% 0.4%
Spending
9.5% 5.4% 4.6% 4.9% 8.7% 5.0% 4.3% 4.7% 5.2% 6.2%
27.3% 20.9% 12.0% 9.8% 10.7% 8.0% 10.9% 12.7% 15.1% 14.9%
n/a n/a n/a 15.8% n/a n/a −0.2% 24.3% 21.6% 24.2%
Returns
0.0% n/a 29.2% 7.0% −10.0% −14.8% 26.7% 30.2% 16.0% 7.1%
n/a 0.0% 11.3% 3.0% −6.1% −8.8% 15.5% 18.3% 9.6% 4.2%
Balance and payout
n/a n/a 0.25 0.19 0.09 0.10 0.15 0.08 0.10 0.12
n/a 48.9% 33.6% 39.1% 30.7% 39.7% 41.9% 39.3% 40.0% 41.6%
n/a n/a 5.5% 37.9% n/a n/a 2.3% 6.8% 15.3% 36.8%
n/a n/a 97.2% 50.3% n/a n/a 171.4% 58.5% 99.6% 562.6%