Short answer
Liberty Energy Inc. (LBRT) filed its fiscal 2025 10-K annual report with the SEC on Feb 2, 2026. It reported revenue of $4.0B (−7.2% year over year) and net income of $148M.
- Top risk flagged: Key-person dependency risk from CIO with sole primary responsibility for cybersecurity and risk management
FY2025 key financial metrics · XBRL
- Revenue
- $4.0B
- −7.2% YoY
- Net income
- $148M
- −53.2% YoY
- Operating margin
- 1.8%
- −7.2 pp YoY
- EPS (diluted)
- $0.89
- −52.4% YoY
- ROE
- 7.1%
- −8.9 pp YoY
- Operating cash flow
- $610M
- −26.5% YoY
Source: XBRL data from the Liberty Energy Inc. (LBRT) FY2025 10-K on SEC EDGAR. USD.
Liberty Energy Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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