Liberty Energy Inc. (LBRT) intrinsic value & 10-year financials
Liberty Energy Inc. (LBRT) has a Graham intrinsic value of $6.16 per share. At $16.60 on Oct 17, 2026, the stock trades 169% above that value. Over the last 10 fiscal years revenue grew 30.8% a year to $4.0B, with an average return on invested capital of 13.8%.
- Graham intrinsic value
- $6.16
- Share price (Oct 17, 2026)
- $16.60
- Price vs Graham value
- 169% above
- Market cap
- $2.7B
- Revenue (FY2025)
- $4.0B
- Revenue growth (10-yr CAGR)
- 30.8%
- ROIC (10-yr avg)
- 13.8%
- Free cash flow (FY2025)
- $14.1M
LBRT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.0B | $147.9M | $0.89 | $14.1M | 1.8% | 2.2% |
| FY2024 | $4.3B | $316.0M | $1.87 | $178.3M | 9.0% | 13.4% |
| FY2023 | $4.7B | $556.3M | $3.15 | $411.3M | 16.0% | 29.5% |
| FY2022 | $4.0B | $399.6M | $2.11 | $78.5M | 12.4% | 31.4% |
| FY2021 | $2.4B | -$179.2M | -$1.03 | -$63.3M | -7.4% | -13.7% |
| FY2020 | $965.8M | -$115.6M | -$0.68 | -$18.2M | -18.3% | -15.0% |
| FY2019 | $2.0B | $39.0M | $0.27 | $65.9M | 5.3% | 14.6% |
| FY2018 | $2.1B | $126.3M | $0.91 | $92.4M | 14.4% | 75.4% |
| FY2017 | $1.5B | $0 | — | -$116.7M | 12.4% | 0.0% |
| FY2016 | $356.9M | $0 | — | -$143.1M | -15.3% | 0.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Liberty Energy Inc. is a consistent compounder, expanding top-line revenue at 30.8% annually over the past decade.
Liberty Energy Inc. has earned high returns on invested capital, averaging 15.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Liberty Energy Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Liberty Energy Inc. is modeled at -0.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.16 per share.