Liberty Energy posted first-quarter earnings that were relatively in line with management’s expectations. Management indicated that full-year operating results will lean toward flattish across the board, with increased activity in the latter half of the year. At first glance, we expect to maintain our $18 fair value estimate and our no-moat rating.
Increased market share resulting from the OneStim acquisition will enable Liberty to develop relationships with new clients, leading to higher revenue growth over time.
A lack of international exposure limits Liberty’s growth potential to E&P firms’ capital spending in North American markets, which are inherently volatile
|
Metric
|
LBRT
|
BKR
|
HAL
|
|---|---|---|---|
Price/Earnings (Normalized) | 8.53 | 18.76 | 12.12 |
Price/Book Value | 2.02 | 2.13 | 3.54 |
Price/Sales | 0.88 | 1.27 | 1.50 |
Price/Cash Flow | 3.74 | 11.98 | 9.21 |
|
Metric
|
LBRT
|
BKR
|
HAL
|
|---|---|---|---|
Quick Ratio | 1.02 | 0.73 | 1.30 |
Current Ratio | 1.48 | 1.25 | 2.12 |
Interest Coverage | 22.69 | 14.14 | 5.98 |
|
Metric
|
LBRT
|
BKR
|
HAL
|
|---|---|---|---|
Return on Assets (Normalized) | 16.61% | 4.54% | 11.75% |
Return on Equity (Normalized) | 28.21% | 10.83% | 31.52% |
Return on Invested Capital (Normalized) | 23.77% | 8.24% | 18.09% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
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