Liberty Energy Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Liberty Energy Inc (LBRT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Liberty Energy Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 4,445M vs 96,315M combined for its competitors (4.4% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+7.6% annualized vs trailing 12 months), vs accelerating (+5.4%) for its tracked peer group.
- Growth: Liberty Energy Inc generated 26.3% revenue growth year over year in Q3 2026, vs 8.1% for its competitors combined.
- Profitability: Its -3.3% net margin compares with 6.2% for the peer group.
- Scale: Liberty Energy Inc ranks #45 of 133 companies by market capitalization in the Oil And Gas Production industry, holding 0.1% of industry market cap.
- Peer revenue share: Liberty Energy Inc accounted for 4.5% of combined revenue among its tracked peer group, up from 3.9% a year earlier.
- Peer differentiation: Revenue per employee of $0.77M compares with $0.42M for the peer group (1.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
LBRT Sales vs. its Competitors, Q3 2026
Liberty Energy Inc reported revenue growth of 26.26 % year on year in Q3 2026, above its competitors' combined revenue growth of 8.09 %.
With a net margin of -3.27 %, Liberty Energy Inc reported lower profitability than its competitors (6.16 %).
Liberty Energy Inc generated 4.50 % of the combined sales of its peer group, up from 3.88 % a year earlier.
API endpoints for this dataset
Liberty Energy Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Liberty Energy Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Liberty Energy Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Liberty Energy Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Liberty Energy Inc's competitor groups requires a Commercial License.
For context: the Oil And Gas Production industry grew revenue 3.2% year over year, combined, vs 26.3% for Liberty Energy Inc. Liberty Energy Inc's share of combined industry revenue moved from 0.07% to 0.09%, a gain of 0.02 percentage points.
Liberty Energy Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Liberty Energy Inc | No | Yes | Yes | No |
| Competitors combined (12) | ||||
| High-Confidence Competitors (11) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 50.00 % (4 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
LBRT Stock Performance relative to its Competitors
LBRT Stock Performance relative to High-Confidence Competitors
LBRT Stock Performance relative to Similar-Size Competitors
LBRT Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Nine Energy Service Inc | 282.9% | Outperformed |
| 2 | Patterson uti Energy Inc | 282.9% | Outperformed |
| 3 | Mammoth Energy Services Inc | 282.9% | Outperformed |
| 4 | Nabors Industries Ltd | 282.9% | Outperformed |
| 5 | Slb Limited | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Liberty Energy Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Liberty Energy Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Liberty Energy Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Liberty Energy Inc |
1,951.76 | 4,444.67 |
 Slb Limited |
74,730.24 | 36,886.00 |
 Halliburton Company |
26,490.88 | 22,476.00 |
 Patterson uti Energy Inc |
3,812.81 | 4,838.35 |
 Rpc inc |
1,141.65 | 1,809.14 |
 Nabors Industries Ltd |
1,044.78 | 3,214.06 |
| SUBTOTAL | 111,124.90 | 107,242.63 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Liberty Energy Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Liberty Energy Inc's Competitors Named by the Company
Competitive relationships identified from Liberty Energy Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Propetro Holding Corp | Company report | 85% |
| Halliburton Company | Company report | 85% |
| ProFrac Holding Corp. | Company report | 85% |
| NexTier Oilfield Solutions Inc. | Company report | 85% |
| ProPetro Services, Inc. | Company report | 85% |
| Patterson-UTI Energy Inc. | Company report | 85% |
| Universal Pressure Pumping, Inc. | Company report | 85% |
| STEP Energy Services | Company report | 85% |
| Solaris Energy Infrastructure Inc | Company report | 85% |
| RPC, Inc. | Company report | 85% |
| Calfrac Well Services Ltd. | Company report | 85% |
| FTS International, Inc. | Company report | 85% |
| U.S. Well Services, Inc. | Company report | 85% |
| Rpc inc | Company report | 85% |
| Ncs Multistage Holdings Inc | Company report | 85% |
| Patterson uti Energy Inc | Company report | 85% |
| Nabors Industries Ltd | Company report | 85% |
| Superior Energy Services Inc | Company report | 85% |
| Enservco Corporation | Company report | 85% |
| Baker Hughes Company | Company report | 85% |
| Mammoth Energy Services Inc | Company report | 85% |
| Nine Energy Service Inc | Company report | 85% |
| Klx Energy Services Holdings Inc | Company report | 85% |
| Slb Limited | Company report | 85% |
Company report basis, confidence, active dates and source counts for Liberty Energy Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Liberty Energy Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Slb Limited | Production Systems 42.33 % |
| Halliburton Company | Completion and Production 54.16 % |
| Patterson uti Energy Inc | Completion Services 60.22 % |
| Rpc inc | Technical Service 94.98 % |
| Nabors Industries Ltd | International Excluding Canada 52.57 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Liberty Energy Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Liberty Energy Inc | 1,952 | 766,323 | -18,264 |
| Slb Limited | 74,730 | 338,404 | 28,541 |
| Halliburton Company | 26,491 | 468,250 | 41,750 |
| Patterson uti Energy Inc | 3,813 | 612,449 | -3,113 |
| Rpc inc | 1,142 | 625,349 | -11,228 |
| Nabors Industries Ltd | 1,045 | 231,227 | 23,180 |
| PEERS TOTAL | 109,173 | 420,132 | 31,794 |
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Liberty Energy Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Slb Limited | Middle East 29.71 % |
| Halliburton Company | North America 37.87 % |
| Rpc inc | US 97.83 % |
| Nabors Industries Ltd | Middle East and Asia 40.02 % |
| Ncs Multistage Holdings Inc | US 53.34 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Liberty Energy Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 112 companies in Liberty Energy Inc's industry classification, broader than the peer set above. Market cap in millions of $.Liberty Energy Inc ranks #45 of 112 companies by market capitalization in its industry, holding 0.13 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 788, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Shell Plc | 297,503 | 18.60 % |
| 2 | Totalenergies Se | 210,564 | 13.16 % |
| 3 | Petrobras Petroleo Brasileiro Sa | 137,905 | 8.62 % |
| 4 | Canadian Natural Resources Limited | 107,018 | 6.69 % |
| 5 | Eni Spa | 1,234 | 5.2% |
| 6 | Eog Resources Inc | 1,234 | 5.2% |
| 7 | Slb Limited | 1,234 | 5.2% |
| 8 | Occidental Petroleum Corporation | 1,234 | 5.2% |
| 9 | Diamondback Energy Inc | 1,234 | 5.2% |
| 10 | Cenovus Energy Inc | 1,234 | 5.2% |
| 45 | Liberty Energy Inc | 2,005 | 0.13 % |
Market cap and industry share for the rest of Liberty Energy Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Liberty Energy Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 40 | Black Stone Minerals L p | 2,972 | 5.48 % |
| 41 | Gulfport Energy Corporation | 2,692 | -21.54 % |
| 42 | Talos Energy Inc | 2,524 | 56.38 % |
| 43 | Northern Oil And Gas Inc | 2,469 | 11.18 % |
| 44 | National Energy Services Reunited Corp | 1,234 | 12.3% |
| 45 | Liberty Energy Inc | 2,005 | -31.33 % |
| 46 | Bkv Corporation | 1,234 | 12.3% |
| 47 | Kimbell Royalty Partners lp | 1,234 | 12.3% |
| 48 | Select Water Solutions inc | 1,234 | 12.3% |
| 49 | Vermilion Energy inc | 1,234 | 12.3% |
| 50 | Mach Natural Resources Lp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Liberty Energy Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Liberty Energy Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil And Gas Production industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (245 companies). See the full Oil And Gas Production industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 18.02 % | 26.12 % (avg) | -8.1 pp |
| Operating Margin | 1.67 % | industry median | -8.6 pp |
| EBITDA Margin | 9.39 % | 18.44 % (avg) | -9.0 pp |
| Capital Intensity (Capex / Revenue) | 27.27 % | 27.32 % (avg) | -0.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Liberty Energy Inc's Valuation vs Competitive Position
Valuation multiples vs the Oil And Gas Production industry average (245 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Oil And Gas Production industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 84.7x | 16.3x | +68.4x |
| EV / EBITDA | 9.7x | 9.3x | +0.4x |
| P/B | 1.7x | 2.0x | -0.3x |
| Return on Equity | -5.36 % | industry aggregate | -15.85 % |
| Return on Invested Capital | 1.32 % | 0.94 % (avg) | 0.38 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Liberty Energy Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth | -7.65 % | -51.48 % | 155.83 % | 67.93 % | 14.43 % | -9.11 % | -7.16 % |
| Operating Margin | 5.20 % | -18.33 % | -7.33 % | 11.95 % | 16.02 % | 9.03 % | 1.81 % |
| Return on Invested Capital | 4.95 % | -8.20 % | -6.60 % | 15.86 % | 19.16 % | 8.51 % | 1.47 % |
| P/E | 16.7x | - | - | 7.8x | 6.1x | 9.9x | 18.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Liberty Energy Inc's Strategic Group Map
Liberty Energy Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Liberty Energy Inc's trailing-12-month revenue growth of 13.7% and operating margin of 1.7% compares with an average of 14.3% growth and 2.2% margin across its 8 closest peers by combined growth, margin and ROIC -- Liberty Energy Inc sits below that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Liberty Energy Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Liberty Energy Inc falls in the Dog quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue -2.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Liberty Energy Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 788 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Moderate, in line with the industry | Capital intensity (capex / revenue) of 27.27 % vs industry average 27.32 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Liberty Energy Inc's dedicated Suppliers and Customers pages, not here.
Liberty Energy Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Liberty Energy Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Liberty Energy Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+7.6% annualized vs trailing 12 months).
Weaknesses
- Operating margin 8.6 points below the industry median.
- Return on equity 15.9 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.01x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Liberty Energy Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Liberty Energy Inc | 0.45 | 1.68 | 0.52 |
| Slb Limited | 0.19 | 1.37 | 0.38 |
| Halliburton Company | 0.35 | 2.04 | 0.66 |
| Patterson uti Energy Inc | 0.17 | 1.74 | 0.39 |
| Rpc inc | 0.87 | 3.30 | 0.04 |
| Nabors Industries Ltd | 0.82 | 1.84 | 2.39 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Liberty Energy Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Liberty Energy Inc | Q3 2026 | +26.3 % | - |
| Slb Limited | Q3 2026 | +5.8 % | -5.0 % |
| Halliburton Company | Q3 2026 | +1.8 % | +1,985.0 % |
| Patterson uti Energy Inc | Q3 2026 | +14.1 % | - |
| Rpc inc | Q3 2026 | +4.6 % | - |
| Nabors Industries Ltd | Q2 2026 | -2.2 % | - |
| PEERS TOTAL | +9.0 % | -1.1 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Liberty Energy Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Liberty Energy Inc | Q3 2026 | +29.3 % | +427.5 % |
| Slb Limited | Q3 2026 | +93.4 % | +15.0 % |
| Halliburton Company | Q3 2026 | - | +1.9 % |
| Patterson uti Energy Inc | Q3 2026 | +308.0 % | -2.2 % |
| Rpc inc | Q3 2026 | +4.5 % | -6.0 % |
| Nabors Industries Ltd | Q2 2026 | +3.8 % | -29.8 % |
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Liberty Energy Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Liberty Energy Inc | - | - | - |
| Slb Limited | 5.63% | 7.16% | 11.40% |
| Halliburton Company | 7.85% | 9.85% | 18.41% |
| Patterson uti Energy Inc | - | - | - |
| Rpc inc | - | - | - |
| Nabors Industries Ltd | 6.99% | 8.30% | 33.98% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Liberty Energy Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Liberty Energy Inc | 49.00 | 0.44 |
| Slb Limited | 24.00 | 2.03 |
| Halliburton Company | 13.38 | 1.18 |
| Patterson uti Energy Inc | - | 0.79 |
| Rpc inc | 35.40 | 0.63 |
| Nabors Industries Ltd | 5.41 | 0.33 |
| PEERS AVERAGE | 14.48 | 1.04 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.