What is Liberty Energy's net debt?

Liberty Energy (LBRT) reported net debt of $924.01M in Q1 2026.

How has Liberty Energy's net debt changed year-over-year?

Liberty Energy's net debt increased by 50.9% year-over-year, from $612.36M to $924.01M.

What is the long-term trend for Liberty Energy's net debt?

Over 5 years (2020 to 2025), Liberty Energy's net debt has grown at a 32.9% compound annual growth rate (CAGR), from $142.61M to $590.73M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Liberty Energy LBRT Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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5.3×-0.3×

PBF EnergyPBF

0.6×+0.4×

SeaboardSEB

2×-0.4×

Sabra HealthcareSBRA

-0.2×-0.3×

TDS

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-0.2×-25.0×

Plains GP Holdings, L.P.PAGP

0.9×-4.2×

Other financials

Income statement

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Revenue$1.0B+4.5%

Gross profit$177.4M-17.8%

Operating income$22.3M+22.6%

Net income$22.6M+12.2%

EPS (diluted)$0.14+16.7%

Balance sheet

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Cash & equivalents$699.1M+2,801%

Total debt$1.6B+155%

Total equity$1.9B-1.3%

Total assets$4.4B+32.4%

Cash flow

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Operating cash flow$8.4M-95.6%

CapEx$157.0M+17.2%

Free cash flow-$148.6M-355%

Valuation

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Market cap$4.44B+81.6%

Enterprise value$5.36B+75.7%

P/E29.5×+19.9×

P/S1.1×+0.5×

Profitability

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Gross margin19.7%-4.9pp

Operating margin1.9%-5.0pp

Net margin3.7%-2.3pp

FCF margin8.1%+0.6pp

Returns & leverage

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Return on equity7.7%-5.5pp

Debt / equity0.8×+0.5×

Current ratio2.2×+1.0×

Where this comes from

Calculated from Liberty Energy’s reported figures.

$1.6Btotal debt−$699.1Mcash and equivalents=$924.01M

The official record: Liberty Energy’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Liberty Energy's net debt?: Liberty Energy (LBRT) reported net debt of $924.01M in Q1 2026.
How has Liberty Energy's net debt changed year-over-year?: Liberty Energy's net debt increased by 50.9% year-over-year, from $612.36M to $924.01M.
What is the long-term trend for Liberty Energy's net debt?: Over 5 years (2020 to 2025), Liberty Energy's net debt has grown at a 32.9% compound annual growth rate (CAGR), from $142.61M to $590.73M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.