LBRT
Liberty Energy Inc.
LBRT's fundamentals are mixed, but it looks expensive: trading at 54x earnings, about six times its usual 8.6x. Its downside scenario is about five times its upside.
LBRT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Weak | |
| Stable |
LBRT's revenue is currently healthy, and its profitability and balance sheet are stable, but its cash flow is weak.
LBRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.7x | $1.37 | -89% |
| Fair | 8.5x | $2.05 | -84% |
| Expensive | 21x | $4.95 | -62% |
| Current | 54x | $12.92 | — |
Historical ranges are pointers, not guarantees.
LBRT's PE is in its expensive range at 54x.
LBRT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect LBRT's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
LBRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.24 | -79% |
| Q2 2026 | $0.74 | -43% |
| Q1 2026 | $0.91 | -40% |
| Q4 2025 | $0.89 | -52% |
| Q3 2025 | $1.12 | -46% |
| Q2 2025 | $1.30 | -48% |
| Q1 2025 | $1.51 | -45% |
| Q4 2024 | $1.87 | -41% |
LBRT's earnings per share have fallen from their peak: $0.24 over the past year, against $3.43 in late 2023.
LBRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +26% |
| Q2 2026 | $1.2B | +14% |
| Q1 2026 | $1B | +4.5% |
| Q4 2025 | $1B | +10% |
| Q3 2025 | $947.4M | -17% |
| Q2 2025 | $1B | -10% |
| Q1 2025 | $977.5M | -8.9% |
| Q4 2024 | $943.6M | -12% |
LBRT's revenue has grown year over year for four quarters in a row: $1.2B last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.6% | +1.9 points |
| Q2 2026 | 1.1% | -2.5 points |
| Q1 2026 | 2.2% | +0.3 points |
| Q4 2025 | 1.9% | -0.7 points |
| Q3 2025 | -0.3% | -9.7 points |
| Q2 2025 | 3.6% | -8.7 points |
| Q1 2025 | 1.9% | -8.9 points |
| Q4 2024 | 2.6% | -8.9 points |
LBRT's operating margin was 1.6% last quarter, up 1.9 points from the same quarter a year ago.
LBRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$403.1M | -$335.9M |
| Q2 2026 | -$90.8M | -375% |
| Q1 2026 | -$148.6M | -355% |
| Q4 2025 | -$10M | +$16.2M |
| Q3 2025 | -$67.2M | -186% |
| Q2 2025 | $33.1M | -71% |
| Q1 2025 | $58.2M | +304% |
| Q4 2024 | -$26.2M | -117% |
LBRT has burned cash in six of the last eight quarters: −$652M over the past year, against −$2M the year before.
LBRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.7% | -4.5M shares |
| 1 year | -1.1% | -1.9M shares |
| 3 years | -6.2% | -10.8M shares |
| 5 years | -8.5% | -15.1M shares |
| Available history | +55% | +57.9M shares |
LBRT has 163M diluted shares, down 1.1% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $924,000 |
| Q1 2025 | $24M |
| Q4 2024 | $30.2M |
LBRT hasn't bought back shares in the past year.
LBRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.2x | Moderate |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.2x | Very low |
| Q4 2024 | 0.2x | Very low |
LBRT's net debt is about 2.2 years of its operating earnings (EBITDA), up from less than a year a year ago.
LBRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.7 | Neutral |
| Stochastic | 16.6 | Oversold |
LBRT's weekly RSI is 33 (neutral) and its Stochastic is 17 (oversold).
LBRT PE vs Energy Sector
| Metric | LBRT | Sector median | Relative |
|---|---|---|---|
| PE | 54x | 13x | 310% above |
| PE % | 99 | 61 | 38 pts above |
LBRT is trading at 54x earnings, a 310% premium to the Energy sector's median of 13x.
LBRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $16.4 | 21% below |
| 20 week MA | $19.0 | 32% below |
| 50 week MA | $23.4 | 45% below |
| 100 week MA | $18.9 | 32% below |
| 200 week MA | $18.5 | 30% below |
LBRT is in a downtrend: it's below all five of its weekly moving averages, and 30% below its 200-week average.
LBRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $10.8 | -1.5% |
| 2021 | $10.8 | $10.2 | -5.5% |
| 2022 | $10.2 | $16.2 | +59% |
| 2023 | $16.2 | $18.1 | +12% |
| 2024 | $18.1 | $18.7 | +3% |
| 2025 | $18.7 | $18.3 | -2.1% |
| 2026 YTD | $18.3 | $12.9 | -29% |
LBRT has finished lower in three of the last six years. It's down 29% so far in 2026.