Liberty Energy Inc.

Energy
Oilfield Services/Equipment
www.libertyenergy.com

Earnings Score
Moat Score
Safety Score

Market Cap $2.84B
PE 8
Debt $123.00M
Cash $23.01M
EV $2.94B
FCF $361.20M

Earnings

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Sales & Net Margins

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Earnings	$356.50M
EBIT	$488.30M
ROE	18%
ROA	15%
FCF	$361.20M
Equity	$1.97B
Growth Stability	-12K%
PE	7.96
PEG	0.13
PB	1.44
P/FCF	7.86
P/S	0.64
Price/Cash	0.01
Debt/Equity	0.06
Debt/FCF	0.34
Net Margins	8%
Gross Margins	27%
Op. Margins	11%
Earnings CAGR	17%
Sales Growth YoY	-6%
Sales Growth QoQ	-2%
Sales CAGR	19%
FCF CAGR	13%
Equity CAGR	24%
Earnings Stability	-0.08
Earnings Growth YoY	-50%
Earnings Growth QoQ	-32%
Earnings CAGR 5Y	64%

Sales CAGR 5Y	39%
FCF CAGR 5Y	33%
Equity CAGR 5Y	23%
Earnings CAGR 3Y	25%
Sales CAGR 3Y	25%
FCF CAGR 3Y	80%
Equity CAGR 3Y	21%
Market Cap	$2.84B
Revenue	$4.45B
Dividend Yield	2%
Payout Ratio	13%
Assets	$3.27B
Total Debt	$123.00M
Cash	$23.01M
Shares Outstanding	164.74M
EV	2.94B
Earnings Score	6%
Moat Score	92%
Safety Score	66%
Final Score	55%
Working Capital	173.95M
Current Ratio	1.23
Gross Profit	$1.21B
Shares Growth 3y	-4%
Equity Growth QoQ	2%
Equity Growth YoY	10%

Assets & ROA

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Stockholders Equity & ROE

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Liberty Energy is an oilfield services company that provides hydraulic fracturing services-mainly pressure pumping-to onshore E&P firms' major basins throughout North America. Its 2020 acquisition of Schlumberger's OneStim business segment made Liberty one of the largest pressure pumpers in North America. It also added wireline operations, two Permian frac sand mines, and an expanded technological portfolio.

SEC Filings

Direct access to Liberty Energy Inc. (LBRT) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Liberty Energy Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Liberty Energy Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 17%

Stability -8%

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Liberty Energy Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Liberty Energy Inc..

Years

Calculation mode

= $9.2B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$361M	$410M	$465M	$528M	$599M	$680M	$772M	$876M	$994M	$1.1B	$1.3B	$13B
DCF		$373M	$384M	$397M	$409M	$422M	$436M	$449M	$464M	$478M	$493M	$4.9B
Value	$9.2B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-16%	0%	6%	2%	-17%	-8%	10%	12%	8%
ROA	-	21%	27%	8%	-9%	-9%	19%	25%	15%
ROE	-	0%	17%	5%	-12%	-15%	27%	30%	18%

Net Margins (7.83%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-1.68	1.21	1.67	-5.96	-1.98	2.81	0.34	0.34
Debt over Equity	-	0.5	0.15	0.14	0.08	0.1	0.15	0.08	0.06
Growth Stability	-	-	-	100%	-292%	-12K%	-	100%	-12K%

Good Debt/FCF ratio (0.34)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.06)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-12K%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	298%	45%	-8%	-51%	156%	68%	14%	39%
Earnings YoY growth	-	-100%	-	-69%	-512%	16%	-314%	39%	64%
Equity YoY growth	-	72%	89%	5%	68%	-6%	22%	23%	23%
FCF YoY growth	-	-18%	-179%	-29%	-128%	248%	-224%	424%	33%