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Side-by-side financial comparison of BWX Technologies, Inc. (BWXT) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $885.8M, roughly 1.2× BWX Technologies, Inc.). BWX Technologies, Inc. runs the higher net margin — 10.5% vs 2.2%, a 8.3% gap on every dollar of revenue. On growth, BWX Technologies, Inc. posted the faster year-over-year revenue change (18.7% vs 4.5%). Over the past eight quarters, BWX Technologies, Inc.'s revenue compounded faster (21.1% CAGR vs -6.2%).
BWX Technologies, Inc. is a company headquartered in Lynchburg, Virginia that supplies nuclear components and fuel internationally.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
BWXT vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $885.8M | $1.0B |
| Net Profit | $93.0M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 10.4% | 2.2% |
| Net Margin | 10.5% | 2.2% |
| Revenue YoY | 18.7% | 4.5% |
| Net Profit YoY | 30.9% | — |
| EPS (diluted) | $1.02 | $0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $885.8M | $1.0B | ||
| Q3 25 | $866.3M | $947.4M | ||
| Q2 25 | $764.0M | $1.0B | ||
| Q1 25 | $682.3M | $977.5M | ||
| Q4 24 | $746.3M | $943.6M | ||
| Q3 24 | $672.0M | $1.1B | ||
| Q2 24 | $681.5M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $93.0M | $13.7M | ||
| Q3 25 | $82.1M | $43.1M | ||
| Q2 25 | $78.4M | $71.0M | ||
| Q1 25 | $75.5M | $20.1M | ||
| Q4 24 | $71.0M | $51.9M | ||
| Q3 24 | $69.5M | $73.8M | ||
| Q2 24 | $73.0M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | 21.8% | 18.7% | ||
| Q2 25 | 25.1% | 22.1% | ||
| Q1 25 | 24.2% | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | 24.4% | 26.2% | ||
| Q2 24 | 24.7% | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 10.4% | 1.9% | ||
| Q3 25 | 13.1% | -0.3% | ||
| Q2 25 | 13.4% | 3.6% | ||
| Q1 25 | 14.2% | 1.9% | ||
| Q4 24 | 12.4% | 2.6% | ||
| Q3 24 | 14.4% | 9.4% | ||
| Q2 24 | 14.5% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 10.5% | 1.3% | ||
| Q3 25 | 9.5% | 4.5% | ||
| Q2 25 | 10.3% | 6.8% | ||
| Q1 25 | 11.1% | 2.1% | ||
| Q4 24 | 9.5% | 5.5% | ||
| Q3 24 | 10.3% | 6.5% | ||
| Q2 24 | 10.7% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $1.02 | $0.08 | ||
| Q3 25 | $0.89 | $0.26 | ||
| Q2 25 | $0.85 | $0.43 | ||
| Q1 25 | $0.82 | $0.12 | ||
| Q4 24 | $0.77 | $0.31 | ||
| Q3 24 | $0.76 | $0.44 | ||
| Q2 24 | $0.79 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $499.8M | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $1.2B | $1.9B |
| Total Assets | $4.3B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $499.8M | $27.6M | ||
| Q3 25 | $79.6M | $13.5M | ||
| Q2 25 | $37.0M | $19.6M | ||
| Q1 25 | $55.4M | $24.1M | ||
| Q4 24 | $74.1M | $20.0M | ||
| Q3 24 | $35.5M | $23.0M | ||
| Q2 24 | $48.3M | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $1.1B | $2.0B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.1B | $2.0B | ||
| Q2 24 | $998.5M | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $4.3B | $3.6B | ||
| Q3 25 | $3.8B | $3.5B | ||
| Q2 25 | $3.7B | $3.4B | ||
| Q1 25 | $3.1B | $3.4B | ||
| Q4 24 | $2.9B | $3.3B | ||
| Q3 24 | $2.9B | $3.3B | ||
| Q2 24 | $2.8B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $127.0M | — |
| Free Cash FlowOCF − Capex | $56.8M | — |
| FCF MarginFCF / Revenue | 6.4% | — |
| Capex IntensityCapex / Revenue | 7.9% | 13.1% |
| Cash ConversionOCF / Net Profit | 1.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $295.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $195.4M | ||
| Q3 25 | $143.2M | $51.5M | ||
| Q2 25 | $159.0M | $170.6M | ||
| Q1 25 | $50.6M | $192.1M | ||
| Q4 24 | $276.9M | $177.3M | ||
| Q3 24 | $32.6M | $244.5M | ||
| Q2 24 | $65.9M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $56.8M | $-10.0M | ||
| Q3 25 | $94.9M | $-67.2M | ||
| Q2 25 | $126.3M | $33.1M | ||
| Q1 25 | $17.3M | $58.2M | ||
| Q4 24 | $224.4M | $-26.2M | ||
| Q3 24 | $-7.7M | $77.9M | ||
| Q2 24 | $35.5M | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | 6.4% | -1.0% | ||
| Q3 25 | 11.0% | -7.1% | ||
| Q2 25 | 16.5% | 3.2% | ||
| Q1 25 | 2.5% | 6.0% | ||
| Q4 24 | 30.1% | -2.8% | ||
| Q3 24 | -1.1% | 6.8% | ||
| Q2 24 | 5.2% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 7.9% | 19.8% | ||
| Q3 25 | 5.6% | 12.5% | ||
| Q2 25 | 4.3% | 13.2% | ||
| Q1 25 | 4.9% | 13.7% | ||
| Q4 24 | 7.0% | 21.6% | ||
| Q3 24 | 6.0% | 14.6% | ||
| Q2 24 | 4.5% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.37× | 14.28× | ||
| Q3 25 | 1.74× | 1.20× | ||
| Q2 25 | 2.03× | 2.40× | ||
| Q1 25 | 0.67× | 9.55× | ||
| Q4 24 | 3.90× | 3.42× | ||
| Q3 24 | 0.47× | 3.31× | ||
| Q2 24 | 0.90× | 2.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 0% |
LBRT
Segment breakdown not available.
