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Liberty Energy LBRT Unbilled Revenue

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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

Reported directly by Liberty Energy in its filing.

Tagged under the XBRL concept us-gaap:UnbilledReceivablesCurrent.

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 unbilled revenue?
Liberty Energy (LBRT) reported unbilled revenue of $267.69M in Q1 2026.
How has Liberty Energy's unbilled revenue changed year-over-year?
Liberty Energy's unbilled revenue increased by 61.2% year-over-year, from $166.06M to $267.69M.
What is the long-term trend for Liberty Energy's unbilled revenue?
Over 5 years (2020 to 2025), Liberty Energy's unbilled revenue has grown at a 29.5% compound annual growth rate (CAGR), from $69.52M to $253.65M.
What does unbilled revenue mean?
This represents the value of services performed or goods delivered for which the company has earned revenue but has not yet issued a formal invoice to the customer. It reflects the timing difference between the completion of operational activities, such as pressure pumping or wireline services, and the contractual billing cycle. Monitoring this balance is essential for assessing working capital efficiency and the speed at which operational output is converted into accounts receivable and cash.