Liberty Energy Inc.
- Open
- 26.80
- Day high
- 26.92
- Day low
- 26.21
- Prev close
- 26.27
- Volume
- 964K
- Mkt cap
- $4.3B
- P/E (TTM)
- 28.4
- EPS (TTM)
- $0.93
- P/B
- 2.2
- P/S
- 1.1
- Yield
- 1.32%
- Per share
- $0.35
- ▼Insiders net selling -$1.4M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
Liberty Energy Inc. (LBRT) is a Energy company listed on NYSE. The stock is up 129% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Liberty Energy Inc. (LBRT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LBRT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $-0.13 | $0.06 | +146.2% | $1.0B | +6.5% |
| Jan 28, 2026 | $-0.16 | $0.05 | +131.3% | $1.0B | +17.2% |
| Oct 16, 2025 | $-0.06 | $-0.06 | -3.6% | $947M | -1.5% |
| Jul 24, 2025 | $0.16 | $0.61 | +281.2% | $1.0B | +7.5% |
| Apr 16, 2025 | $0.03 | $0.04 | +33.3% | $977M | +3.1% |
| Jan 29, 2025 | $0.09 | $0.10 | +11.1% | $944M | -3.6% |
| Oct 16, 2024 | $0.58 | $0.45 | -22.4% | $1.1B | +0.6% |
| Jul 17, 2024 | $0.59 | $0.61 | +3.4% | $1.2B | -0.3% |
| Apr 17, 2024 | $0.54 | $0.47 | -13.0% | $1.1B | -5.1% |
| Jan 24, 2024 | $0.58 | $0.54 | -6.9% | $1.1B | -1.1% |
| Oct 18, 2023 | $0.75 | $0.84 | +12.0% | $1.2B | +14.9% |
| Jul 19, 2023 | $0.90 | $0.85 | -5.6% | $1.2B | -4.5% |
LBRT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | Stock Michaelofficer: Chief Financial Officer | Sell | 3,333 | $31.00 |
| Jun 2, 2026 | Stock Michaelofficer: Chief Financial Officer | Sell | 13,332 | $29.46 |
| May 20, 2026 | Stock Michaelofficer: Chief Financial Officer | Sell | 19,998 | $33.48 |
| May 5, 2026 | Kimble William Fdirector, officer: Chairman of the Board | Sell | 7,350 | $33.92 |
| Apr 14, 2026 | Stock Michaelofficer: Chief Financial Officer | Tax | 67,360 | $27.92 |
| Apr 14, 2026 | ELLIOTT R SEANofficer: Chief Legal Officer | Tax | 33,726 | $27.92 |
| Apr 14, 2026 | Gosney Ryan Tofficer: Chief Accounting Officer | Tax | 23,367 | $27.92 |
| Apr 14, 2026 | Gusek Rondirector, officer: CEO and President | Tax | 71,676 | $27.92 |
| Apr 2, 2026 | Gosney Ryan Tofficer: Chief Accounting Officer | Grant | 26,124 | — |
| Apr 2, 2026 | Stock Michaelofficer: Chief Financial Officer | Tax | 45,025 | $27.92 |
| Apr 2, 2026 | ELLIOTT R SEANofficer: Chief Legal Officer | Grant | 42,050 | — |
| Apr 2, 2026 | Stock Michaelofficer: Chief Financial Officer | Grant | 102,914 | — |
| Apr 2, 2026 | Gusek Rondirector, officer: CEO and President | Grant | 102,914 | — |
| Apr 2, 2026 | ELLIOTT R SEANofficer: Chief Legal Officer | Tax | 16,547 | $27.92 |
| Apr 2, 2026 | Gosney Ryan Tofficer: Chief Accounting Officer | Tax | 11,430 | $27.92 |
Source: LBRT SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full LBRT insider & 13F page →Liberty Energy Inc. company profile
Overview
Liberty Energy Inc. (NYSE:LBRT) is a Denver-based oilfield services company founded in 2011 that provides hydraulic fracturing and related services to onshore oil and natural gas exploration and production companies across North America. Originally known as Liberty Oilfield Services Inc., the company changed its name to Liberty Energy Inc. in April 2022 and went public in January 2018. The company has evolved from a traditional hydraulic fracturing service provider into a technology-focused energy services company that is expanding into power generation services while maintaining its core completions business.
Business
Liberty Energy operates in the oilfield services industry, specifically providing completion services that are essential for extracting oil and natural gas from shale formations. The company's core business revolves around hydraulic fracturing (commonly called "fracking"), a process where high-pressure fluid mixtures are injected into underground rock formations to create fractures that allow oil and gas to flow more freely to the wellbore. The company operates through several key business segments: 1. **Completion Services (~85-90% of revenue)**: This includes hydraulic fracturing pressure pumping services, where Liberty deploys large fleets of equipment to pump water, sand (proppant), and chemicals at extremely high pressures into oil and gas wells. The company also provides pumpdown perforating services, which create holes in well casing to allow hydrocarbons to flow, and wireline services for downhole operations and well intervention. 2. **Proppant Solutions (~5-8% of revenue)**: Through its PropX subsidiary, Liberty owns and operates two sand mines in the Permian Basin, providing the sand (proppant) that keeps fractures open after the hydraulic fracturing process. This vertical integration helps control costs and supply chain logistics. 3. **Power Generation Services (~2-5% of revenue, rapidly growing)**: Liberty Power Innovations (LPI) provides distributed power generation solutions using natural gas engines, targeting markets including data centers, merchant power, EV charging stations, and industrial applications. This represents the company's strategic expansion beyond traditional oilfield services. The company primarily serves major oil and gas basins including the Permian Basin (Texas and New Mexico), Eagle Ford Shale (Texas), Denver-Julesburg Basin (Colorado), Williston Basin (North Dakota), and Powder River Basin (Wyoming). As of recent reports, Liberty operates approximately 30 active hydraulic fracturing fleets and has been transitioning these fleets to run primarily on natural gas rather than diesel fuel for environmental and cost benefits.
Revenue model
Liberty Energy generates revenue primarily through service contracts with oil and gas exploration and production companies. The company's business model centers on providing specialized equipment, labor, and materials on a project-by-project basis, typically charging customers based on stages completed, hours worked, or volumes of materials used. The company's revenue streams include: 1. **Hydraulic Fracturing Services**: Liberty charges customers for pressure pumping services based on the number of stages completed or pumping hours. Pricing varies significantly based on market conditions, with rates ranging from highly competitive during downturns to premium pricing during tight market conditions. 2. **Proppant Sales**: Through its sand mining operations, Liberty sells proppant both to its own fracturing operations (internal transfer pricing) and to external customers, generating margins on the difference between mining costs and market prices. 3. **Power Generation Services**: The newest revenue stream involves providing distributed power solutions through equipment leasing, power purchase agreements, and engineering services, with contract durations ranging from 2-3 years for bridge power to 20+ years for data center applications. Several factors significantly impact Liberty's profitability margins: **Margin-Enhancing Factors**: Tight oilfield services markets drive premium pricing for high-quality services. The company's technological differentiation through natural gas-powered fleets and digital technologies (digiFleet, digiPrime) commands pricing premiums. Vertical integration through sand mining and natural gas logistics reduces input costs. Operational efficiency improvements, including 27% longer engine life and 40% longer fluid end life, reduce maintenance and replacement costs. **Margin-Pressuring Factors**: Commodity price volatility directly affects customer drilling activity and pricing power. Labor shortages and wage inflation increase operational costs. Equipment maintenance and replacement costs are substantial given the harsh operating environment. Fuel price fluctuations impact operating costs, though the transition to natural gas provides some hedge against diesel price volatility. Competitive pressures during market downturns can compress pricing significantly. The business is inherently cyclical, closely tied to oil and gas prices, drilling activity levels, and overall energy market conditions. However, Liberty's focus on technology differentiation and operational efficiency has helped maintain relatively stable margins compared to traditional diesel-powered competitors.
Competitive moat
Liberty Energy's competitive moat is moderate and primarily technology-based, though the oilfield services industry is generally characterized by intense competition and cyclical pressures that limit the durability of competitive advantages. The company's primary moat elements include: **Technological Differentiation**: Liberty has invested heavily in natural gas-powered fracturing fleets and digital technologies that provide operational advantages. The company's digiFleet and digiPrime technologies offer fuel efficiency benefits and reduced emissions compared to traditional diesel-powered equipment. This technological edge has extended equipment component lifespans significantly (27% for engines, 40% for fluid ends), reducing operating costs and improving reliability. **Vertical Integration**: Liberty's ownership of sand mines in the Permian Basin and natural gas logistics capabilities through Liberty Power Innovations provides some cost advantages and supply chain control. This integration helps buffer against input cost volatility and ensures reliable material supply during tight market conditions. **Operational Scale and Expertise**: With approximately 30 active fracturing fleets and extensive operational experience across major shale basins, Liberty has developed significant operational expertise and customer relationships that create some barriers to entry for smaller competitors. However, the company's moat faces several significant challenges: **Intense Competition**: The hydraulic fracturing industry includes numerous well-capitalized competitors including Halliburton, Schlumberger, and ProPetro, limiting pricing power during market downturns. **Commodity Exposure**: The business is highly dependent on oil and gas drilling activity, which fluctuates significantly with commodity prices and is largely outside Liberty's control. **Technology Replication**: While Liberty's current technology provides advantages, competitors can potentially develop similar capabilities over time, eroding technological differentiation. **Customer Concentration Risk**: The company serves a limited number of large oil and gas producers, creating dependency on customer capital allocation decisions and drilling programs. Overall, Liberty's moat is best characterized as narrow but improving, with the company's strategic pivot toward power generation services potentially providing more durable competitive advantages in growing markets less tied to volatile oil and gas cycles.
Risks & safety
Liberty Energy demonstrates a **moderate margin of safety** with reasonable financial stability but exposure to cyclical industry risks. **Cash and Debt Position:** - Cash and short-term investments: $24.1 million (Q1 2025) - Total debt-to-equity ratio: 0.29 - Current ratio: 1.20, indicating adequate short-term liquidity - Free cash flow: $58.2 million (Q1 2025), though volatile across quarters **Valuation Metrics:** - Price-to-earnings ratio: 31.9 (Q1 2025), elevated due to cyclical earnings trough - EV/EBITDA: 4.7, reasonable for the industry - Price-to-book ratio: 1.30, suggesting modest premium to book value - Graham number: 5.84, indicating potential undervaluation by traditional metrics **Other Considerations:** - Strong operational cash flow generation: $192 million (Q1 2025) - Manageable capital expenditure requirements: ~$650 million planned for 2025 - Cyclical earnings volatility creates uncertainty in normalized earning power - Expansion into power generation diversifies revenue but requires significant capital investment
Recent development
Over the past few years, Liberty Energy has undergone significant strategic transformation beyond its traditional hydraulic fracturing services. The company has made substantial investments in natural gas-powered equipment technology, transitioning approximately 90% of its fleets to run primarily on natural gas rather than diesel fuel, improving both environmental performance and operational economics. A major strategic pivot has been the launch of Liberty Power Innovations (LPI), the company's power generation services division. Starting with natural gas logistics for its own operations, LPI has expanded to provide distributed power solutions including merchant power, data center power, EV charging infrastructure, and industrial applications. The company has deployed 130 megawatts of power generation capacity and plans to reach 400 megawatts by the end of 2026, representing a potential $200 million annual capital investment program. Liberty has also focused heavily on technological innovation and vertical integration. The company launched Liberty Advanced Equipment Technologies (LAET) as a manufacturing division, developed the digiPrime natural gas variable speed engine in partnership with Cummins, and created digital intelligence platforms like "The Hive" for operational optimization. The company's PropX sand mining operations have been expanded, and new technologies like the Sentinel logistics platform use AI to optimize proppant delivery. Recent operational achievements include significant improvements in equipment reliability, with engine life increased by 27%, fluid ends life by 40%, and power ends life by 37%. The company has also made strategic investments in emerging energy technologies, including stakes in geothermal company Fervo, battery technology company Natron, and small modular nuclear reactor company Oklo, positioning itself for potential energy transition opportunities while maintaining its core oil and gas services focus.
LBRT company profile · for informational purposes only — not investment advice.
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