Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $375M | $1.49B | $2.16B | $1.99B | $966M | $2.47B | $4.15B | $4.75B | $4.32B | $4.01B |
| Revenue growth | — | 297.5% | 44.7% | -7.6% | -51.5% | 155.8% | 67.9% | 14.4% | -9.1% | -7.2% |
| Operating income | -$54.4M | $181M | $307M | $104M | -$177M | -$181M | $496M | $761M | $389M | $72.7M |
| Operating margin | -14.5% | 12.2% | 14.2% | 5.2% | -18.3% | -7.3% | 12.0% | 16.0% | 9.0% | 1.8% |
| Net income | $0.00 | $0.00 | $126M | $39.0M | -$116M | -$179M | $400M | $556M | $316M | $148M |
| Net margin | 0.0% | 0.0% | 5.9% | 2.0% | -12.0% | -7.3% | 9.6% | 11.7% | 7.3% | 3.7% |
| EPS (diluted) | — | — | $1.81 | $0.53 | -$1.36 | -$1.03 | $2.11 | $3.15 | $1.87 | $0.89 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$40.7M | $195M | $351M | $261M | $85.4M | $135M | $530M | $1.01B | $829M | $610M |
| Capital expenditures | $102M | $312M | $259M | $195M | $104M | $199M | $452M | $603M | $651M | $595M |
| Free cash flow | -$143M | -$117M | $92.4M | $65.9M | -$18.2M | -$63.3M | $78.5M | $411M | $178M | $14.1M |
| Share buybacks | $0.00 | $0.00 | $82.9M | $18.4M | $0.00 | $0.00 | $125M | $203M | $129M | $24.9M |
| Dividends paid | $0.00 | $0.00 | $6.91M | $14.8M | $4.43M | $168K | $9.16M | $37.7M | $48.3M | $54.5M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $11.5M | $16.3M | $103M | $113M | $69.0M | $20.0M | $43.7M | $36.8M | $20.0M | $27.6M |
| Total assets | — | $852M | $1.12B | $1.28B | $1.89B | $2.04B | $2.58B | $3.03B | $3.30B | $3.56B |
| Total liabilities | — | $417M | $376M | $502M | $580M | $810M | $1.08B | $1.19B | $1.32B | $1.48B |
| Long-term debt | — | $196M | $106M | $106M | $105M | $121M | $217M | $140M | $191M | $242M |
| Shareholders' equity | $229M | $393M | $741M | $781M | $1.31B | $1.23B | $1.50B | $1.84B | $1.98B | $2.08B |
| Retained earnings | — | $0.00 | $119M | $143M | $23.3M | -$156M | $235M | $752M | $1.02B | $1.11B |
| Shares (wtd avg diluted) | — | — | 118M | 105M | 85.2M | 174M | 189M | 176M | 169M | 165M |
Every figure is extracted from Liberty Energy Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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