10 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 32.9% per year over the past 5 years.
Operating margin has expanded, at 1.8% in the latest year.
Financial health
Total debt ($247M) exceeds cash ($28M); net debt is $219M.
Total debt has grown slower than revenue (18.4% vs 32.9% per year).
Operating income covered interest expense 1.8× in the latest year.
Total debt is 0.4× EBITDA.
Shareholder returns
Dividends have been paid for 8 consecutive years, consuming 36.8% of earnings and 386.2% of free cash flow.
The dividend has grown 65.2% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$4.0B
$148M
20.9%
1.8%
$14M
$247M
$28M
2024
$4.3B
$316M
25.8%
9.0%
$178M
$191M
$20M
2023
$4.7B
$556M
29.5%
16.0%
$411M
$140M
$37M
2022
$4.1B
$400M
24.1%
12.0%
$78M
$218M
$44M
2021
$2.5B
-$179M
8.9%
-7.3%
-$63M
$122M
$20M
2020
$966M
-$116M
11.2%
-18.3%
-$18M
$106M
$69M
2019
$2.0B
$39M
18.5%
5.2%
$66M
$106M
$113M
2018
$2.2B
$126M
24.4%
14.2%
$92M
$107M
$103M
2017
$1.5B
$0
23.0%
12.2%
-$117M
$196M
$16M
2016
$375M
$0
5.3%
-14.5%
-$143M
—
$11M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$1.0B
$23M
17.4%
2.2%
-$149M
$1.3B
$699M
Dec '25
$1.0B
$14M
20.6%
1.9%
-$10M
$247M
$28M
Sep '25
$947M
$43M
18.7%
-0.3%
-$67M
$253M
$13M
Jun '25
$1.0B
$71M
22.1%
3.6%
$33M
$160M
$20M
Mar '25
$977M
$20M
22.1%
1.9%
$58M
$210M
$24M
Dec '24
$944M
$52M
21.4%
2.6%
-$26M
$191M
$20M
Sep '24
$1.1B
$74M
26.2%
9.4%
$78M
$123M
$23M
Jun '24
$1.2B
$108M
27.9%
12.2%
$112M
$147M
$30M
Mar '24
$1.1B
$82M
27.1%
10.8%
$14M
$166M
$24M
Dec '23
$1.1B
$92M
27.7%
11.5%
$157M
$140M
$37M
Sep '23
$1.2B
$149M
30.1%
16.9%
$103M
$223M
$27M
Jun '23
$1.2B
$153M
30.3%
17.3%
$81M
$288M
$32M
Mar '23
$1.3B
$163M
29.6%
17.8%
$71M
$210M
$21M
Dec '22
$1.2B
$153M
27.3%
16.2%
$113M
$218M
$44M
Sep '22
$1.2B
$147M
26.4%
15.4%
$55M
$254M
$24M
Jun '22
$943M
$105M
24.3%
11.7%
-$13M
$254M
$41M
Mar '22
$793M
-$5M
15.5%
0.5%
-$76M
$212M
$33M
Dec '21
$684M
-$56M
7.1%
-9.3%
-$20M
$122M
$20M
Sep '21
$654M
-$39M
9.2%
-6.1%
-$11M
$122M
$35M
Jun '21
$581M
-$51M
10.2%
-6.2%
-$34M
$106M
$31M
Valuation over time
How the market has priced LBRT against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 5.2× (Mar '23) to 29.8× (Jun '26).
The price-to-sales ratio has risen from 0.5× (Mar '23) to 1.1× (Jun '26).
The dividend yield has risen from 0.4% (Mar '23) to 1.2% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is LBRT growing its revenue and profit?
Over the past 5 years, Liberty Energy Inc.'s revenue has grown 32.9% per year. These are computed facts, not advice.
How much debt does LBRT have?
As of FY2025, Liberty Energy Inc. reported $247M of total debt against $28M of cash; operating income covered interest expense 1.8×.
What is LBRT's profit margin?
In FY2025, gross margin was 20.9%, operating margin 1.8%, and net margin 3.7%.
What is LBRT's P/E ratio?
As of Jun '26, Liberty Energy Inc. traded at a price-to-earnings ratio of about 29.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.