The company maintains a disciplined capital structure with a debt-to-equity ratio of 0.18 as of 2026Q1, though it remains heavily reliant on $2.5 billion in net property, plant, and equipment.
| Total Current Assets | 1.68B | 877.97M | 848.52M | 954.25M | 956.67M | 630.38M | 567.13M | 488.97M | 461.22M | 352.03M | 174.09M | 107.18M |
| Cash & Short-Term Investments | 699.15M | 27.55M | 19.98M | 36.78M | 43.68M | 20M | 68.98M | 112.69M | 103.31M | 16.32M | 11.48M | -5.64M |
| Cash Only | 699.15M | 27.55M | 19.98M | 36.78M | 43.68M | 20M | 68.98M | 112.69M | 103.31M | 16.32M | 11.48M | -5.64M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 729.43M | 605.37M | 539.86M | 587.47M | 586.01M | 407.45M | 338.66M | 252.91M | 247.96M | 258.79M | 128.56M | 87.81M |
| Days Sales Outstanding | 56.69 | 55.16 | 45.66 | 45.16 | 51.55 | 60.19 | 127.99 | 46.38 | 42 | 63.4 | 125.21 | 70.38 |
| Inventory | 185.26M | 188.13M | 203.47M | 205.87M | 214.45M | 134.59M | 118.57M | 88.55M | 60.02M | 55.52M | 28.14M | 16.46M |
| Days Inventory Outstanding | 19.15 | 19.35 | 20.04 | 19.93 | 22.54 | 19.55 | 41.69 | 18.09 | 12.49 | 16.5 | 25.93 | 13.98 |
| Other Current Assets | 66.63M | 56.92M | 85.21M | 124.14M | 112.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 2.76B | 2.68B | 2.45B | 2.08B | 1.62B | 1.41B | 1.32B | 794.46M | 655.28M | 500.07M | 277.75M | 189.79M |
| Property, Plant & Equipment | 2.53B | 0 | 2.25B | 1.92B | 1.5B | 1.33B | 1.24B | 760.12M | 627.05M | 494.78M | 277.36M | 189.79M |
| Fixed Asset Turnover | 1.68x | - | 1.92x | 2.47x | 2.76x | 1.86x | 0.78x | 2.62x | 3.44x | 3.01x | 1.35x | 2.40x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 12.6M | 0 | 0 | 0 | 7.1M | 54M | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 392.73M | 70.84M | 81.04M | 31.65M | 0 | -7.1M | -54M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 150.39M | 2.6B | 119.4M | 127.33M | 105.3M | 82.29M | 81.89M | -25.65M | 28.23M | 5.3M | 399K | 0 |
| Total Assets | 4.44B | 3.56B | 3.3B | 3.03B | 2.58B | 2.04B | 1.89B | 1.28B | 1.12B | 852.1M | 451.85M | 296.97M |
| Asset Turnover | 1.08x | 1.13x | 1.31x | 1.57x | 1.61x | 1.21x | 0.51x | 1.55x | 1.93x | 1.75x | 0.83x | 1.53x |
| Asset Growth % | 53.56% | 7.95% | 8.66% | 17.77% | 26.23% | 7.97% | 47.26% | 14.95% | 31.03% | 88.58% | 52.15% | - |
| Total Current Liabilities | 759.83M | 720.35M | 666.52M | 639.42M | 649.5M | 569.25M | 356.15M | 266.5M | 219.74M | 220.5M | 131.79M | 75.48M |
| Accounts Payable | 642.18M | 598.66M | 314.12M | 293.73M | 326.82M | 288.8M | 193.34M | 117.61M | 80.49M | 66.85M | 42.86M | 28.6M |
| Days Payables Outstanding | 55.63 | 61.58 | 30.94 | 28.43 | 34.36 | 41.95 | 67.98 | 24.03 | 16.75 | 19.86 | 39.5 | 24.29 |
| Short-Term Debt | 117.65M | 121.69M | 95.22M | 67.39M | 39.71M | 40.78M | 44.42M | 39.93M | 385K | 11K | 12.85M | 22.79M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 3.86M | 4.55M | 0 | 0 | 0 | 9.23M | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 170.74M | 165.94M | 192.15M | 174.61M | 90.14M | 78.82M | 116.07M | 119.43M | 72.19M | 18.5M |
| Current Ratio | 2.21x | 1.22x | 1.27x | 1.49x | 1.47x | 1.11x | 1.59x | 1.83x | 2.10x | 1.60x | 1.32x | 1.42x |
| Quick Ratio | 1.97x | 0.96x | 0.97x | 1.17x | 1.14x | 0.87x | 1.26x | 1.50x | 1.83x | 1.34x | 1.11x | 1.20x |
| Cash Conversion Cycle | 20.21 | 12.92 | 34.76 | 36.66 | 39.74 | 37.79 | 101.7 | 40.44 | 37.74 | 60.04 | 111.64 | 60.07 |
| Total Non-Current Liabilities | 1.74B | 759.06M | 651M | 552.72M | 429.13M | 240.97M | 223.75M | 295.43M | 155.95M | 196.35M | 91.08M | 87.44M |
| Long-Term Debt | 1.27B | 496.59M | 190.5M | 140M | 217.43M | 121.44M | 105.41M | 105.73M | 106.14M | 196.35M | 91.08M | 87.32M |
| Capital Lease Obligations | 992.47M | 255.08M | 247.89M | 197.91M | 91.78M | 81.41M | 61.75M | 61.57M | 0 | 0 | 0 | 119K |
| Deferred Tax Liabilities | 677.12M | 195.6M | 137.73M | 102.34M | 1.04M | 563K | 0 | 79.64M | 32.99M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 66.87M | -188.21M | 74.89M | 112.47M | 118.87M | 37.55M | 56.59M | 48.48M | 16.82M | 0 | 0 | 0 |
| Total Liabilities | 2.5B | 1.48B | 1.32B | 1.19B | 1.08B | 810.22M | 579.9M | 561.92M | 375.69M | 416.85M | 222.87M | 162.92M |
| Total Debt | 351.8M | 873.37M | 533.61M | 405.31M | 348.92M | 243.63M | 211.58M | 207.23M | 106.52M | 196.36M | 103.92M | 110.23M |
| Net Debt | -347.34M | 845.81M | 513.62M | 368.52M | 305.24M | 223.64M | 142.61M | 94.54M | 3.21M | 180.04M | 92.44M | 115.88M |
| Debt / Equity | 0.18x | 0.42x | 0.27x | 0.22x | 0.23x | 0.20x | 0.16x | 0.27x | 0.14x | 0.45x | 0.45x | 0.82x |
| Debt / EBITDA | 0.64x | 1.50x | 0.60x | 0.34x | 0.42x | 2.43x | 5.89x | 0.75x | 0.24x | 0.75x | - | 3.31x |
| Net Debt / EBITDA | -0.63x | 1.45x | 0.58x | 0.31x | 0.36x | 2.23x | 3.97x | 0.34x | 0.01x | 0.69x | - | 3.48x |
| Interest Coverage | 5.24x | 5.84x | 13.34x | 25.92x | 18.59x | -10.39x | -11.97x | 6.09x | 17.90x | 14.34x | -8.89x | -0.65x |
| Total Equity | 1.95B | 2.08B | 1.98B | 1.84B | 1.5B | 1.23B | 1.31B | 781.49M | 740.81M | 435.25M | 228.97M | 134.05M |
| Equity Growth % | 13.93% | 5.05% | 7.46% | 22.98% | 21.69% | -6.08% | 67.63% | 5.49% | 70.2% | 90.09% | 70.81% | - |
| Book Value per Share | 11.72 | 12.52 | 11.68 | 10.44 | 7.91 | 7.07 | 15.37 | 7.42 | 6.29 | 6.31 | 4.08 | 1.13 |
| Total Shareholders' Equity | 1.95B | 2.08B | 1.98B | 1.84B | 1.5B | 1.21B | 1.15B | 554.83M | 433.07M | 435.25M | 228.97M | 134.05M |
| Common Stock | 1.62M | 1.62M | 1.62M | 1.67M | 1.79M | 1.86M | 1.79M | 1.13M | 1.14M | 392.77M | 228.97M | 134.05M |
| Retained Earnings | 1.12B | 1.11B | 1.02B | 752.33M | 234.53M | -155.95M | 23.29M | 143.1M | 119.27M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -15.69M | -13.86M | -19.75M | -6.08M | -7.4M | -306K | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 2.29M | 17.2M | 159.41M | 226.66M | 307.75M | 0 | 0 | 0 |
Cyclical capital intensity risk
As reported in recent financial filings, Liberty Energy has grown its total assets from $3.0 billion in 2023Q4 to $4.4 billion by 2026Q1, a trend that appears disconnected from the company's recent -7.16% revenue growth and suggests a significant increase in capital intensity.
The expansion of the asset base during a period of top-line contraction implies that the company is aggressively investing in its fleet despite cooling market demand. Investors should monitor whether this asset growth will eventually drive efficiency gains or if it represents an over-capitalization of the business in a cyclical downturn.
Based on the company's reported figures, Liberty Energy has maintained a conservative debt-to-equity ratio of 0.18 as of 2026Q1, which represents a notable improvement from the 0.42 ratio observed in 2025Q4 and suggests a disciplined approach to managing financial obligations.
The reduction in leverage appears to be a strategic effort to preserve balance sheet flexibility during volatile market conditions. While the debt load remains manageable, the company's reliance on external financing to fund its capital-intensive electric fleet transition warrants continued scrutiny regarding future interest coverage.
According to balance sheet data, net property, plant, and equipment (PPE) accounts for approximately $2.5 billion of the company's $4.4 billion in total assets as of 2026Q1, highlighting the highly asset-heavy nature of Liberty Energy's hydraulic fracturing service model.
This concentration in PPE underscores the company's exposure to high maintenance capital requirements and potential impairment risks if utilization rates in the Permian Basin continue to soften. The lack of significant goodwill on the balance sheet suggests that the asset base is primarily composed of tangible equipment rather than acquired intangible value.
As disclosed in recent quarterly statements, Liberty Energy's cash position of $27.5 million in 2025Q4, while showing a temporary spike to $699.1 million in 2026Q1, generally remains low relative to the company's $4 billion revenue scale and high operational cost structure.
The volatility in cash balances suggests that the company may be relying on revolving credit facilities to manage working capital fluctuations. Given the capital-intensive nature of the digiFrac rollout, the limited cash buffer may restrict the company's ability to navigate prolonged periods of industry-wide pricing pressure.
Quick answers to the most common questions about buying LBRT stock.
As of 2025, Liberty Energy Inc. (LBRT) had total assets of $3.56B including $878.0M in current assets.
Liberty Energy Inc. (LBRT) carries total debt of $873.4M, offset by $27.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Liberty Energy Inc. (LBRT) has total shareholders' equity (book value) of $2.08B ($12.52 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Liberty Energy Inc. (LBRT) reported a current ratio of 1.22x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.