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MARKETS / NYSE / LBRT
NYSE · OIL & GAS FIELD SERVICES, NEC · LARGE CAP

Liberty Energy Inc. LBRT

10 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$4.0B
▼ 7.2% YoY
$147.9M
▼ 53.2% YoY
$14.1M
▼ 92.1% YoY
In brief

What this company does

Liberty Energy Inc. offers completions services to onshore oil, natural gas and enhanced geothermal exploration and production companies, including hydraulic fracturing, wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas delivery, and data analytics. Its operations are located in North American shale basins, including the Permian Basin, the Williston Basin, the Haynesville Shale, the Eagle Ford Shale, the Denver-Julesburg Basin, the Western Canadian Sedimentary Basin, the Powder River Basin, and the Appalachian Basin, as well as smaller basins including the Anadarko Basin, the Uinta Basin, the San Juan Basin, and the Beetaloo Basin in Northern Territory, Australia. The company has grown from one active hydraulic fracturing fleet as of December 2011 to approximately 40 active fleets as of December 31, 2025. As of December 31, 2025, it had approximately 5,800 employees and no unionized labor. For the years ended December 31, 2025, 2024 and 2023, its top five customers collectively accounted for approximately 39%, 43% and 34% of revenues, respectively. Its operations are organized into a single business segment, consisting of completions services, including hydraulic fracturing, wireline, proppant delivery and goods, and natural gas compression and delivery, with one reportable geographical segment, North America. Before founding the Company, members of its senior executive management team founded and built Pinnacle Technologies, Inc., which developed the first commercial hydraulic fracture mapping technologies in 1992.

Written from the business description in Liberty Energy Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 2 February 2026. Every sentence was checked against that document before publication.

Growth
USD 4.0B
Revenue, FY2025 · full 10-year series below
Revenue $B Net income $B
FY2025 · Revenue 4.0 · Net income 0.1
2B4B2016201720182019202020212022202320242025
Compound annual growth
−1.2%
+32.9%
−28.2%
−25.0%
+87.6%
−16.1%
+78.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +32.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
4 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 1.8% · Net 3.7%
5%10%15%-5%-10%-15%2016201720182019202020212022202320242025
ROE
FY2024 · ROE 17.2%
20%40%-5%-10%-15%2016201720182019202020212022202320242025

Cash & shareholders
USD 79.4M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 14.1
200M400M-50M-100M2016201720182019202020212022202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends 54.5 · Net buybacks 24.9
100M200M-50M-100MDividendsNet buybacks2016201720182019202020212022202320242025

USD 54.5M in dividends and USD 24.9M in buybacks — 54% of the year's profit went back to shareholders.

Total assetsUSD 3.6B
CashUSD 27.6M
Gross debtUSD 246.6M
Net debtUSD 219.1M
Current ratio1.22×

Not available: we don't have the shareholders' equity figure for this period.

The 10-year record
10 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016
Revenue $B4.04.34.74.12.51.02.02.11.50.4
Operating income $B0.10.40.80.5−0.2−0.20.10.30.2−0.1
EBITDA $B0.60.91.20.80.10.00.30.40.3−0.0
Income tax $B0.00.10.2−0.00.0−0.00.00.00.00.0
Net income $B0.10.30.60.4−0.2−0.10.00.10.00.0
Free cash flow $B0.00.20.40.1−0.1−0.00.10.1−0.1−0.1
EPS, diluted $0.891.873.152.11−1.03−1.360.531.81··
Dividend / sh $0.330.290.220.05·0.050.20···
Payout %371572−0−4385··
ROE %·17.233.329.5−15.2−13.67.958.4··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 36 reconciliationsAUDITED

Reconciled in 10 of 19 fiscal years. 49 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityOil & Gas Field Services, NEC
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2016

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