Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Liberty Energy reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Valuation signals disagree.Cheaper than 65% of peers on operating cash profit (EBITDA), but only 0% on free cash flow.Cheaper than 65% of peers on operating cash profit, but only 0% on free cash flow.
Relative to its operating cash profit (EBITDA), Liberty Energy looks cheaper than 65% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Liberty Energy looks cheaper than 65% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Sales growing faster than profits. Since 2022: revenue −3.4%, operating profit −85%.
Since 2022, Liberty Energy's revenue changed −3.4% while operating profit fell 85%: costs rose faster than sales.
Thin margins.Operating margin 1.3% (12 months to Jun 2026) vs a peer median of 12%.Operating margin 1.3% vs peers 12%.
Liberty Energy keeps 1.3% of revenue as operating profit, less than most peers (median 12%), leaving less room if costs rise.
StockQuotient Score
39/ 100▲ 1 since Oct 27 closeOct 5 37 → Nov 4 39 (+2)
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 48 → 53
Share price -12.6%+7
Company's reported figures updated-1
Peer companies moved-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield4.9%
SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.08Sector median: 0.0522 · MAD: 0.0351
EBITDA yield16.1%
SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.78Sector median: 0.1209 · MAD: 0.0518
Free cash flow yield-12.7%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.26Sector median: 0.0618 · MAD: 0.0491
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Liberty Energy
Is Liberty Energy getting weaker?
Its latest SEC filing (Jul 23, 2026) showed no major changes. Its overall score is 39/100, up 1 since Oct 28, 2026.
How is Liberty Energy valued vs its peers?
Priced about in line with its peers. Valuation scores 53/100 against 404 energy peers.EBITDA yield 16.1% vs a peer median of 12.1% (stronger than 65% of peers).EBITDA yield 16.1% vs peers 12.1% (stronger than 65% of peers).Free cash flow yield -12.7% vs a peer median of 6.2% (weaker than 100% of peers).Free cash flow yield -12.7% vs peers 6.2% (weaker than 100% of peers).
Is Liberty Energy growing?
More slowly than most of its peers. Growth scores 31/100 against 404 energy peers.Earnings per share growth -44.7% vs a peer median of 1.1% (weaker than 80% of peers).Earnings per share growth -44.7% vs peers 1.1% (weaker than 80% of peers).
How profitable is Liberty Energy?
Less profitable than most of its peers. Profitability scores 18/100 against 404 energy peers.Operating margin 1.3% vs a peer median of 11.7% (weaker than 85% of peers).Operating margin 1.3% vs peers 11.7% (weaker than 85% of peers).
How risky is Liberty Energy?
Moderate risk relative to 404 energy peers, judged on debt, liquidity and share-price swings.Current ratio 1.99× vs a peer median of 1.37× (stronger than 73% of peers).Current ratio 1.99× vs peers 1.37× (stronger than 73% of peers).Beta 0.72 vs a peer median of 0.57 (weaker than 66% of peers).Beta 0.72 vs peers 0.57 (weaker than 66% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Jul 23, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Worth watching: Liberty Energy is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
4.0B USD
4.2B USD
+3.6%
Net income (12 months)
150.3M USD
122.4M USD
−18.6%
Operating margin
1.9%
1.3%
−0.6 pts
Free cash flow (12 months)
−192.7M USD
−316.6M USD
+64.3%
Debt
1.3B USD
1.3B USD
+1.0%
Cash
699.1M USD
555.4M USD
−20.6%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Energy · 117 companies
Valuations in Energy are above their usual range since 2016.
71% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +37% and earnings +10% (medians): prices rose faster than earnings.
Median price-to-sales is −30% vs the whole market, against a usual −35%.
2016Shaded: most expensive fifth of its range2026
Shown for Energy: too few Oil & Gas Equipment & Services companies have a long enough history of their own.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
8.9%
24.1%
29.5%
25.8%
20.9%
▼ 4.9 pts
Operating margin
-7.3%
12.0%
16.0%
9.0%
1.8%
▼ 7.2 pts
Net margin
-7.3%
9.6%
11.7%
7.3%
3.7%
▼ 3.6 pts
Return on assets (ROA)
-8.8%
15.5%
18.3%
9.6%
4.2%
▼ 5.4 pts
Return on equity (ROE)
-14.8%
26.7%
30.2%
16.0%
7.1%
▼ 8.9 pts
Free cash flow margin
-2.6%
1.9%
8.7%
4.1%
0.4%
▼ 3.8 pts
Current ratio
1.11×
1.47×
1.49×
1.27×
1.22×
▼ 4.3%
Quick ratio
0.87×
1.14×
1.17×
0.97×
0.96×
▼ 1.0%
Debt to equity
0.10×
0.15×
0.08×
0.10×
0.12×
▲ 23%
Interest coverage
—
21.83×
25.79×
11.91×
1.80×
▼ 85%
LBRT price history
Price history is added with the daily price update and will appear after the next one.