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Liberty Energy Inc Class A LBRT

Morningstar Rating
$22.97 +0.69 (3.10%)
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Company Report

Liberty Energy Earnings: Seasonal Pick-Up Drives Solid Performance

Liberty Energy posted a weaker second quarter compared with last year, with revenue down 3% year over year and adjusted EBITDA contracting 250 basis points. Lower service prices due to reduced industrywide fleet utilization is the key culprit, and end-market demand will likely remain weaker versus 2023 levels through at least year-end. We maintain our no-moat rating and $18 fair value estimate, and we view shares as overvalued at the time of writing.

Price vs Fair Value

LBRT is trading at a 193% premium.
Price
$22.97
Fair Value
$88.00
Uncertainty
Very High
1-Star Price
$27.80
5-Star Price
$1.00
Economic Moat
Xxcg
Capital Allocation
Ldwjsyvm

Bulls Say, Bears Say

Bulls

A larger market share following the OneStim acquisition will enable Liberty to develop relationships with new clients, leading to higher revenue growth over time.

Bears

A lack of international exposure limits Liberty’s growth potential to E&P firms’ capital spending in North American markets, which are inherently volatile

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News

Trading Information

Previous Close Price
$22.28
Day Range
$22.2423.05
52-Week Range
$15.5724.75
Bid/Ask
$21.50 / $23.25
Market Cap
$3.80 Bil
Volume/Avg
2.5 Mil / 2.4 Mil

Key Statistics

Price/Earnings (Normalized)
9.33
Price/Sales
0.87
Dividend Yield (Trailing)
1.13%
Dividend Yield (Forward)
1.22%
Total Yield
4.51%

Company Profile

Liberty Energy is an oilfield services company that provides hydraulic fracturing services—mainly pressure pumping—in 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.
Sector
Energy
Industry
Oil & Gas Equipment & Services
Stock Style Box
Small Value
Total Number of Employees
5,500

Competitors

Valuation

Metric
LBRT
HAL
BKR
Price/Earnings (Normalized)
9.3310.8219.51
Price/Book Value
1.963.052.40
Price/Sales
0.871.331.40
Price/Cash Flow
3.787.4312.38
Price/Earnings
LBRT
HAL
BKR

Financial Strength

Metric
LBRT
HAL
BKR
Quick Ratio
0.951.300.74
Current Ratio
1.352.121.27
Interest Coverage
19.845.9816.09
Quick Ratio
LBRT
HAL
BKR

Profitability

Metric
LBRT
HAL
BKR
Return on Assets (Normalized)
14.55%11.75%5.74%
Return on Equity (Normalized)
24.53%31.52%13.72%
Return on Invested Capital (Normalized)
20.72%18.09%10.30%
Return on Assets
LBRT
HAL
BKR
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Oil & Gas Equipment & Services Industry Comparables

1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Schlumberger Ltd
SLB
XkznfdywbXwnrrb$69.3 Bil
Baker Hughes Co Class A
BKR
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Halliburton Co
HAL
BmdszshrnXzntvj$30.5 Bil
Tenaris SA ADR
TS
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TechnipFMC PLC
FTI
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Weatherford International PLC Ordinary Shares - New
WFRD
VgjkMcdn$8.6 Bil
NOV Inc
NOV
CghbqyhxKzss$7.9 Bil
ChampionX Corp
CHX
GkjsbjwsNvh$6.6 Bil
Expro Group Holdings NV
XPRO
FvwpbryqLmrq$2.7 Bil

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