Latest Ratios: P/E Ratio 26.6x · EV/EBITDA 8.0x · ROE 7.3%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.8B | $3.1B | $3.4B | $3.2B | $3.0B | $1.7B | $879M | $1.2B | $1.5B | — | — |
| Enterprise Value | $4.7B | $3.9B | $3.9B | $3.6B | $3.3B | $1.9B | $1.0B | $1.3B | $1.5B | — | — |
| P/E Ratio → | 26.58 | 20.74 | 10.64 | 5.76 | 7.59 | — | — | 15.66 | 12.10 | — | — |
| P/S Ratio | 0.96 | 0.77 | 0.78 | 0.67 | 0.73 | 0.68 | 0.91 | 0.59 | 0.71 | — | — |
| P/B Ratio | 1.89 | 1.47 | 1.70 | 1.74 | 2.02 | 1.37 | 0.67 | 1.50 | 2.06 | — | — |
| P/FCF | 271.83 | 217.29 | 18.89 | 7.78 | 42.67 | — | — | 17.75 | 16.51 | — | — |
| P/OCF | 6.29 | 5.03 | 4.06 | 3.15 | 5.72 | 12.46 | 10.29 | 4.48 | 4.34 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.98 | 0.90 | 0.75 | 0.80 | 0.77 | 1.06 | 0.64 | 0.71 | — | — |
| EV / EBITDA | 8.05 | 6.72 | 4.37 | 3.03 | 3.99 | 19.08 | 28.45 | 4.58 | 3.50 | — | — |
| EV / EBIT | 57.57 | 16.61 | 8.91 | 4.67 | 7.90 | — | — | 11.89 | 4.98 | — | — |
| EV / FCF | — | 277.25 | 21.77 | 8.67 | 46.97 | — | — | 19.19 | 16.55 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.4% | 11.4% | 14.1% | 20.6% | 16.3% | -1.7% | -7.5% | 10.2% | 18.6% | 17.5% | -5.7% |
| Operating Margin | 2.0% | 2.0% | 8.9% | 16.0% | 12.4% | -6.6% | -14.9% | 5.6% | 14.5% | 12.2% | -15.2% |
| Net Profit Margin | 3.7% | 3.7% | 7.3% | 11.7% | 9.6% | -7.3% | -12.0% | 2.0% | 5.9% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.3% | 7.3% | 16.5% | 33.3% | 29.3% | -14.1% | -11.1% | 5.1% | 21.5% | — | — |
| ROA | 4.3% | 4.3% | 10.0% | 19.8% | 17.3% | -9.1% | -7.3% | 3.3% | 12.8% | — | — |
| ROIC | 2.3% | 2.3% | 12.3% | 28.3% | 23.7% | -8.4% | -9.3% | 10.2% | 34.5% | 29.0% | -15.0% |
| ROCE | 3.0% | 3.0% | 15.3% | 35.1% | 30.3% | -10.8% | -11.3% | 11.6% | 40.9% | 38.1% | -21.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.42 | 0.42 | 0.27 | 0.22 | 0.23 | 0.20 | 0.16 | 0.27 | 0.14 | 0.45 | 0.45 |
| Debt / EBITDA | 1.50 | 1.50 | 0.60 | 0.34 | 0.42 | 2.43 | 5.89 | 0.75 | 0.24 | 0.75 | — |
| Net Debt / Equity | — | 0.41 | 0.26 | 0.20 | 0.20 | 0.18 | 0.11 | 0.12 | 0.00 | 0.41 | 0.40 |
| Net Debt / EBITDA | 1.45 | 1.45 | 0.58 | 0.31 | 0.36 | 2.23 | 3.97 | 0.34 | 0.01 | 0.69 | — |
| Debt / FCF | — | 59.97 | 2.88 | 0.90 | 4.30 | — | — | 1.43 | 0.03 | — | — |
| Interest Coverage | 5.84 | 5.84 | 13.34 | 25.92 | 18.59 | -10.39 | -11.97 | 6.09 | 17.90 | 14.34 | -8.89 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.22 | 1.22 | 1.27 | 1.49 | 1.47 | 1.11 | 1.59 | 1.83 | 2.10 | 1.60 | 1.32 |
| Quick Ratio | 0.96 | 0.96 | 0.97 | 1.17 | 1.14 | 0.87 | 1.26 | 1.50 | 1.83 | 1.34 | 1.11 |
| Cash Ratio | 0.04 | 0.04 | 0.03 | 0.06 | 0.07 | 0.04 | 0.19 | 0.42 | 0.47 | 0.07 | 0.09 |
| Asset Turnover | — | 1.13 | 1.31 | 1.57 | 1.61 | 1.21 | 0.51 | 1.55 | 1.93 | 1.75 | 0.83 |
| Inventory Turnover | 18.86 | 18.86 | 18.21 | 18.32 | 16.19 | 18.67 | 8.76 | 20.18 | 29.22 | 22.13 | 14.07 |
| Days Sales Outstanding | — | 55.16 | 45.66 | 45.16 | 51.55 | 60.19 | 127.99 | 46.38 | 42.00 | 63.40 | 125.21 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 1.8% | 1.4% | 1.2% | 0.3% | 0.0% | 0.5% | 1.3% | 0.5% | — | — |
| Payout Ratio | 36.8% | 36.8% | 15.3% | 6.8% | 2.3% | — | — | 37.9% | 5.5% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 4.8% | 9.4% | 17.4% | 13.2% | — | — | 6.4% | 8.3% | — | — |
| FCF Yield | 0.4% | 0.5% | 5.3% | 12.9% | 2.3% | — | — | 5.6% | 6.1% | — | — |
| Buyback Yield | 0.6% | 0.8% | 3.8% | 6.3% | 4.1% | 0.2% | 0.0% | 1.6% | 7.1% | — | — |
| Total Shareholder Yield | 2.0% | 2.6% | 5.3% | 7.5% | 4.4% | 0.2% | 0.5% | 2.8% | 7.6% | — | — |
| Shares Outstanding | — | $166M | $169M | $176M | $189M | $174M | $85M | $105M | $118M | $69M | $56M |
Cyclical margin compression risk
According to current market data, LBRT trades at a TTM P/E of 30.18, which appears elevated relative to its recent revenue contraction and suggests that investors are pricing in a recovery in completion activity that may not materialize in the near-term given current industry headwinds.
The forward P/E of 103.11 indicates that the market is bracing for a significant earnings trough, likely reflecting the high fixed-cost nature of the business during periods of low utilization. Compared to peers like RPC, Inc., LBRT's valuation premium suggests the market assigns value to its integrated technology, yet this multiple remains vulnerable if margin compression persists.
Based on reported financial statements, LBRT's ROIC has deteriorated from 4.2% in 2023Q4 to a marginal 0.1% in 2026Q1, signaling that the company is struggling to generate adequate returns on its heavy investment in electric fleet technology during the current industry downturn.
The decline in ROIC highlights the difficulty of maintaining capital efficiency when utilization rates fall and mobilization costs rise. Investors should monitor whether this trend is a temporary byproduct of the digiFrac rollout or a structural issue where the capital intensity of the new fleet exceeds the incremental margin gains.
As reported in recent filings, LBRT's cash conversion cycle has fluctuated significantly, reaching 18 days in 2026Q1, which suggests that while the company is managing its internal logistics, the broader environment is forcing a tightening of credit terms with customers and suppliers alike.
The asset turnover ratio of 0.26 in 2026Q1 remains low, reflecting the heavy capital base required to support fracturing operations. This efficiency metric warrants further investigation, as it suggests that the company's revenue-generating capacity is currently underutilized relative to its massive investment in property, plant, and equipment.
The P/E ratio is frequently misapplied to LBRT, as it obscures the company's high depreciation and capital intensity, which often mask the underlying cash-generating potential of its integrated service model during different phases of the energy cycle.
Investors should prioritize EV/EBITDA or FCF-based metrics, as these better account for the company's debt structure and the significant non-cash charges associated with its fleet. Relying on P/E in a cyclical industrial sector like pressure pumping often leads to distorted conclusions about value, particularly when earnings are suppressed by temporary mobilization and reactivation expenses.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying LBRT stock.
Liberty Energy Inc.'s current P/E ratio is 26.6x. The historical average is 12.1x. This places it at the 100th percentile of its historical range.
Liberty Energy Inc.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.2x.
Liberty Energy Inc.'s return on equity (ROE) is 7.3%. The historical average is 9.0%.
Based on historical data, Liberty Energy Inc. is trading at a P/E of 26.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Liberty Energy Inc.'s current dividend yield is 1.39% with a payout ratio of 36.8%.
Liberty Energy Inc. has 11.4% gross margin and 2.0% operating margin.
Liberty Energy Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.