Liberty Energy Inc. (LBRT) FY2025 10-K Annual Report
Liberty Energy Inc. (LBRT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 2, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Liberty Energy Inc. FY2025 10-K Analysis
Business Overview
- • Core business: integrated completions services and technologies for onshore oil, gas, enhanced geothermal with hydraulic fracturing, proppant delivery, wireline, and low emission solutions
- • New emphasis: expansion of Liberty Power Innovations (LPI) into distributed power generation and natural gas fueling, including $19.6M IMG Energy Solutions acquisition
- • Strategic shift: focus on digiFleets℠ deployment with electric/hybrid frac pumps reducing CO2e emissions by ~25%, plus signed 3 GW power project pipeline by 2029 in data center sector
- • Quantitative highlight: 5,800 employees as of Dec 2025; approx. 40 active hydraulic fracturing fleets; $0.9M annual charitable donations; 500 patents held
- • Noteworthy fact: CEO Christopher Wright resigned Feb 2025 to become U.S. Secretary of Energy; dual leadership appointments under succession plan same day
Management Discussion & Analysis
- • Revenue $4.01B, down 7% YoY from $4.32B in 2024, due to lower pricing partially offset by higher activity
- • Operating income $72.7M vs $389.5M with operating margin 1.8% vs 9.0% in 2024, driven by pricing pressure and increased costs
- • Best segment: Completions services with stable volumes despite pricing declines; IMG Acquisition added $19.6M distributed power capability
- • Worst segment impact: Higher general and administrative costs up 10% to $247.4M, including $22M stock compensation related to CEO transition
- • Capital allocation: $19.6M cash acquisition of IMG Energy Solutions; no other buyback/dividend/capex details disclosed
- • Outlook: Stable North American completions demand; oil ~$65/barrel; natural gas $3.51/MMBtu; industry focusing on technology, efficiency, and emissions reduction
Risk Factors
- • Key-person dependency risk from CIO with sole primary responsibility for cybersecurity and risk management
- • Potential cybersecurity threat exposure, with risk monitored quarterly by Audit Committee and annually reviewed by leadership committee
Liberty Energy Inc. FY2025 Key Financial MetricsXBRL
Revenue
$4.0B
▼ -7.2% YoY
Net Income
$148M
▼ -53.2% YoY
Operating Margin
1.8%
▼ -721bp YoY
Net Margin
3.7%
▼ -363bp YoY
ROE
7.1%
▼ -886bp YoY
Total Assets
$3.6B
▲ +7.9% YoY
EPS (Diluted)
$0.89
▼ -52.4% YoY
Operating Cash Flow
$610M
▼ -26.5% YoY
Source: XBRL data from Liberty Energy Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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