Liberty Energy Inc. (LBRT)
NYSE:LBRT
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Liberty Energy
(NYSE:LBRT)
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Rating:61Neutral
Price Target:
$34.00
▲(29.28% Upside)
Action:Reiterated
Date:05/08/26
The score is held back primarily by weaker financial quality (sharp margin compression and materially negative TTM free cash flow), partly offset by a solid balance sheet and improving leverage. Technicals are supportive with a clear uptrend and positive momentum, but valuation is a meaningful headwind due to the high P/E and modest yield. Guidance suggests improvement later in the year, though near-term pricing headwinds, higher costs, and execution/capital timing risks in power projects temper confidence.
Positive Factors
Technology Leadership
Liberty’s proprietary fleet and software (digiPrime, digiFrac, StimCommander, Forge) represent durable operational advantages that reduce cost-per-well and improve service quality. These technologies raise barriers to entry for peers, support premium service demand, and sustain unit economics across cycles.
Negative Factors
Margin Compression
Sharp margin deterioration indicates structural pricing pressure and rising input costs that weaken long-term profitability. Even with higher revenue, compressed margins reduce cash generation, lower return on invested capital, and limit the firm’s ability to rebuild cushions during cyclical upturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Technology Leadership
Liberty’s proprietary fleet and software (digiPrime, digiFrac, StimCommander, Forge) represent durable operational advantages that reduce cost-per-well and improve service quality. These technologies raise barriers to entry for peers, support premium service demand, and sustain unit economics across cycles.
Read all positive factors
Liberty Energy (LBRT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.38B
Dividend Yield1.78%
Average Volume (3M)4.47M
Price to Earnings (P/E)51.7
Beta (1Y)1.08
Revenue Growth-4.02%
EPS Growth-39.84%
CountryUS
Employees5,700
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.93
Shares Outstanding163,191,420
10 Day Avg. Volume3,213,603
30 Day Avg. Volume4,469,294
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)1.44
Price to Sales (P/S)0.75
P/FCF Ratio211.98
Enterprise Value/Market Cap1.17
Enterprise Value/Revenue1.56
Enterprise Value/Gross Profit14.55
Enterprise Value/Ebitda9.15
Forecast
1Y Price Target
$32.44Price Target Upside23.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)<0.01
Revenue Forecast (FY)$4.20B
Liberty Energy Business Overview & Revenue Model
Company Description
Liberty Energy Inc. provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. It also offers hydraulic fracturing pressure pumping services, includi...
How the Company Makes Money
Liberty makes money primarily by contracting with upstream oil and gas producers to perform well-completion work, with hydraulic fracturing services representing the core revenue stream. Under these contracts, Liberty is paid to supply and operate...
Liberty Energy Earnings Call Summary
Earnings Call Date:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution, record operational metrics, technology leadership (digiPrime, digiFrac, StimCommander/Forge) and a sizable power pipeline supported by proactive financing and liquidity. These positives were balanced against realized pricing headwinds, winter weather impact, rising diesel costs, execution/timing risk in multi-year power projects, and near-term capital outlays that increased net debt. Management expects modest sequential growth in Q2 with more meaningful pricing effects in Q3 and the back half of the year. Overall, the company conveyed confidence in its strategic positioning to benefit from cyclical recovery and secular power demand despite short-term headwinds.Positive Updates
Revenue and Adjusted EBITDA
Q1 2026 revenue of $1.0 billion and adjusted EBITDA of $126 million, driven by record pumping efficiencies and high fleet utilization; revenue modestly higher than year-ago period and slightly below the prior quarter.
Negative Updates
Pricing Headwinds and Winter Weather Disruption
Management noted full realization of pricing headwinds in the quarter and material January weather disruption; pricing recovery expected gradually with modest benefit in Q2 and more meaningful impact in Q3 and the back half of the year.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and Adjusted EBITDA
Q1 2026 revenue of $1.0 billion and adjusted EBITDA of $126 million, driven by record pumping efficiencies and high fleet utilization; revenue modestly higher than year-ago period and slightly below the prior quarter.
Read all positive updates
Company Guidance
Guidance: management expects sequential revenue growth in Q2 (high single‑digits) with “normal” incremental margins to EBITDA as utilization improves and they begin to capture modest pricing upside in Q2 (with the more meaningful pricing recovery expected in the back half and a material impact in Q3); they reiterated the 3 GW by 2029 goal (supported by planned contract milestone payments of ~ $300 million in Q2/early Q3), noted completions CapEx will moderate in 2026 while completions free cash flow strengthens, and said Q1 net capex/long‑term deposits were $133 million; tax expense is expected to be ~25% of pretax income for the remainder of 2026 with no material cash taxes, and liquidity/balance sheet targets include cash of $699 million, net debt of $579 million (net debt up ~$360 million due to convertible issuances), and total liquidity of $1.2 billion (after executing ~$1.3 billion of convertible debt offerings); Q1 operating and financial baselines were revenue $1.0 billion, adjusted EBITDA $126 million, adjusted net income $10 million and adjusted diluted EPS $0.06, G&A $60 million (including ~$6 million stock‑based comp), and $15 million of dividends paid in Q1.Liberty Energy Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.05B | 4.01B | 4.32B | 4.75B | 4.15B | 2.47B |
| Gross Profit | 433.12M | 457.92M | 609.61M | 977.04M | 677.16M | -41.90M |
| EBITDA | 688.45M | 735.83M | 941.01M | 1.19B | 745.25M | 100.57M |
| Net Income | 150.32M | 147.87M | 316.01M | 556.32M | 399.60M | -179.24M |
Balance Sheet | ||||||
| Total Assets | 4.44B | 3.56B | 3.30B | 3.03B | 2.58B | 2.04B |
| Cash, Cash Equivalents and Short-Term Investments | 699.15M | 27.55M | 19.98M | 36.78M | 43.68M | 20.00M |
| Total Debt | 1.62B | 873.37M | 533.61M | 405.31M | 348.92M | 243.63M |
| Total Liabilities | 2.50B | 1.48B | 1.32B | 1.19B | 1.08B | 810.22M |
| Stockholders Equity | 1.95B | 2.08B | 1.98B | 1.84B | 1.50B | 1.21B |
Cash Flow | ||||||
| Free Cash Flow | -192.68M | 14.11M | 178.34M | 411.29M | 71.04M | -63.33M |
| Operating Cash Flow | 425.88M | 609.60M | 829.37M | 1.01B | 530.36M | 135.47M |
| Investing Cash Flow | -466.20M | -435.04M | -643.11M | -672.33M | -450.66M | -186.49M |
| Financing Cash Flow | 714.93M | -167.54M | -202.71M | -349.31M | -55.77M | 2.06M |
Liberty Energy Technical Analysis
Negative
26.30
Price Trends
27.92
Negative
23.81
Positive
18.33
Positive
Market Momentum
-0.28
Positive
39.51
Neutral
39.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LBRT, the sentiment is Negative. The current price of 26.3 is below the 20-day moving average (MA) of 28.39, below the 50-day MA of 27.92, and above the 200-day MA of 18.33, indicating a neutral trend. The MACD of -0.28 indicates Positive momentum. The RSI at 39.51 is Neutral, neither overbought nor oversold. The STOCH value of 39.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LBRT.
Liberty Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
61 Neutral | $5.38B | 51.72 | 7.39% | 1.78% | -4.02% | -39.84% | |
59 Neutral | $2.14B | -115.61 | -1.43% | ― | -15.55% | 91.88% | |
58 Neutral | $1.53B | 458.19 | 1.91% | 2.94% | 27.62% | -73.36% | |
54 Neutral | $542.34M | 151.76 | -17.52% | ― | -4.50% | -2286.91% | |
53 Neutral | $2.40B | -12.59 | -8.39% | ― | 41.30% | -195.62% | |
49 Neutral | $1.32B | -3.01 | -53.92% | ― | -18.94% | -69.29% |
* Energy Sector Average
LBRT
Liberty Energy
32.95
21.25
181.53%
OIS
Oil States International
9.01
4.44
97.16%
RES
RPC
6.92
2.31
49.98%
DNOW
Now
13.14
-1.96
-12.98%
PUMP
Propetro Holding
17.45
11.77
207.22%
ACDC
ProFrac Holding
7.28
0.87
13.57%
Liberty Energy Corporate Events
Business Operations and Strategy
Liberty Energy Signs Major Power Equipment Supply Contracts
Positive
May 7, 2026
On May 1, 2026, Liberty Advanced Equipment Technologies LLC signed two major supply contracts with Bergen Engines AS for power generation equipment, including engines and balance-of-plant systems, to support prospective data center and distributed...
Executive/Board ChangesShareholder Meetings
Liberty Energy Shareholders Back Board, Pay and Auditor
Positive
Apr 17, 2026
At Liberty Energy Inc.’s 2026 annual meeting of stockholders, held pursuant to a proxy filed on March 5, 2026, all four director nominees — Simon Ayat, Arjun Murti, Gale Norton, and Cary Steinbeck — were elected to serve until th...
Business Operations and StrategyPrivate Placements and Financing
Liberty Energy Completes Upsized Convertible Notes Offering
Positive
Mar 30, 2026
On March 30, 2026, Liberty Energy Inc. completed a private offering of $475 million of 0.00% Convertible Senior Notes due 2032, which was upsized after initial purchasers exercised a $50 million option, generating net proceeds of about $511.3 mill...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.