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Liberty Energy
(NYSE:LBRT)
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Rating:56Neutral
Price Target:
$24.00
▼(-8.75% Downside)
Action:Reiterated
Date:06/26/26
The score is held back primarily by weaker financial quality (compressed profitability and sharply negative TTM free cash flow) and bearish technical momentum. Offsetting factors include a solid balance sheet, a constructive earnings outlook pointing to pricing recovery later in 2026, and positive long-term strategic progress via major power-equipment contracts, though these come with execution and timing risk.
Positive Factors
Balance sheet strength and improving leverage
Liberty’s materially lower leverage and equity growth provide durable financial flexibility to fund operations, absorb cyclical oilfield downturns, and support multi‑year initiatives. A conservative balance sheet reduces refinancing risk, underpins access to capital for power projects, and strengthens resilience across cycles.
Negative Factors
Meaningfully negative free cash flow
Negative free cash flow reflects heavy reinvestment, working capital pressure, and timing of milestone spending. Over months, persistent FCF deficits can force reliance on capital markets, elevate financing costs, and limit the firm's ability to self‑fund growth or absorb project delays without dilutive or debt financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength and improving leverage
Liberty’s materially lower leverage and equity growth provide durable financial flexibility to fund operations, absorb cyclical oilfield downturns, and support multi‑year initiatives. A conservative balance sheet reduces refinancing risk, underpins access to capital for power projects, and strengthens resilience across cycles.
Read all positive factors
Liberty Energy (LBRT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.00B
Dividend Yield1.78%
Average Volume (3M)3.62M
Price to Earnings (P/E)27.0
Beta (1Y)1.08
Revenue Growth-4.02%
EPS Growth-39.84%
CountryUS
Employees5,800
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.93
Shares Outstanding163,191,420
10 Day Avg. Volume2,739,800
30 Day Avg. Volume3,621,955
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 Cap1.34
Enterprise Value/Revenue1.32
Enterprise Value/Gross Profit12.37
Enterprise Value/Ebitda7.40
Forecast
1Y Price Target
$33.80Price Target Upside28.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)0.28
Revenue Forecast (FY)$4.34B
Liberty Energy Business Overview & Revenue Model
Company Description
Liberty Energy Inc. operates across North America, delivering crucial hydraulic fracturing and wireline services, along with associated products, to land-based companies focused on oil and natural gas exploration and production. Its extensive serv...
How the Company Makes Money
Liberty Energy primarily makes money by selling oilfield services tied to well completions, with hydraulic fracturing (pressure pumping) as its core offering. Revenue is generated from contracts and work orders with exploration and production (E&P...
Liberty Energy Earnings Call Summary
Earnings Call Date:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 22, 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 | 724.28M | 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
Neutral
26.30
Price Trends
29.28
Negative
29.05
Negative
23.56
Positive
Market Momentum
-1.36
Negative
41.87
Neutral
38.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LBRT, the sentiment is Neutral. The current price of 26.3 is above the 20-day moving average (MA) of 25.99, below the 50-day MA of 29.28, and above the 200-day MA of 23.56, indicating a neutral trend. The MACD of -1.36 indicates Negative momentum. The RSI at 41.87 is Neutral, neither overbought nor oversold. The STOCH value of 38.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
60 Neutral | $1.58B | -113.82 | -1.43% | ― | -15.55% | 91.88% | |
59 Neutral | $1.25B | 60.52 | 1.91% | 2.94% | 27.62% | -73.36% | |
56 Neutral | $4.00B | 27.00 | 7.39% | 1.78% | -4.02% | -39.84% | |
54 Neutral | $501.41M | -4.39 | -17.52% | ― | -4.50% | -2286.91% | |
50 Neutral | $2.38B | ― | -8.39% | ― | 41.30% | -195.62% | |
46 Neutral | $890.13M | ― | -53.92% | ― | -18.94% | -69.29% |
* Energy Sector Average
LBRT
Liberty Energy
25.27
14.26
129.46%
OIS
Oil States International
8.42
3.30
64.45%
RES
RPC
5.85
1.26
27.59%
DNOW
Now
13.12
-1.28
-8.89%
PUMP
Propetro Holding
13.75
8.00
139.13%
ACDC
ProFrac Holding
5.34
-2.45
-31.45%
Liberty Energy Corporate Events
Business Operations and Strategy
Liberty Energy signs major long-term power equipment deal
Positive
Jun 25, 2026
On June 22, 2026, Liberty Advanced Equipment Technologies LLC signed a roughly $332.6 million supply contract with Wärtsilä North America for engines, balance-of-plant power generation equipment, and related services to support Liberty E...
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...
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.