vs
Side-by-side financial comparison of Equity Residential (EQR) 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 $781.9M, roughly 1.3× Equity Residential). Equity Residential runs the higher net margin — 48.9% vs 2.2%, a 46.7% gap on every dollar of revenue. On growth, Liberty Energy Inc. posted the faster year-over-year revenue change (4.5% vs 2.0%). Over the past eight quarters, Equity Residential's revenue compounded faster (3.4% CAGR vs -6.2%).
Equity Residential is a United States–based publicly traded real estate investment trust that invests in apartments.
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.
EQR vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $781.9M | $1.0B |
| Net Profit | $382.1M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 50.6% | 2.2% |
| Net Margin | 48.9% | 2.2% |
| Revenue YoY | 2.0% | 4.5% |
| Net Profit YoY | -8.8% | — |
| EPS (diluted) | $1.01 | $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 | $781.9M | $1.0B | ||
| Q3 25 | $782.4M | $947.4M | ||
| Q2 25 | $768.8M | $1.0B | ||
| Q1 25 | $760.8M | $977.5M | ||
| Q4 24 | $766.8M | $943.6M | ||
| Q3 24 | $748.3M | $1.1B | ||
| Q2 24 | $734.2M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $382.1M | $13.7M | ||
| Q3 25 | $289.1M | $43.1M | ||
| Q2 25 | $192.4M | $71.0M | ||
| Q1 25 | $256.6M | $20.1M | ||
| Q4 24 | $419.1M | $51.9M | ||
| Q3 24 | $143.4M | $73.8M | ||
| Q2 24 | $177.5M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 22.1% | ||
| Q1 25 | — | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 50.6% | 1.9% | ||
| Q3 25 | 38.5% | -0.3% | ||
| Q2 25 | 26.6% | 3.6% | ||
| Q1 25 | 35.7% | 1.9% | ||
| Q4 24 | 57.2% | 2.6% | ||
| Q3 24 | 20.1% | 9.4% | ||
| Q2 24 | 25.3% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 48.9% | 1.3% | ||
| Q3 25 | 36.9% | 4.5% | ||
| Q2 25 | 25.0% | 6.8% | ||
| Q1 25 | 33.7% | 2.1% | ||
| Q4 24 | 54.7% | 5.5% | ||
| Q3 24 | 19.2% | 6.5% | ||
| Q2 24 | 24.2% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $1.01 | $0.08 | ||
| Q3 25 | $0.76 | $0.26 | ||
| Q2 25 | $0.50 | $0.43 | ||
| Q1 25 | $0.67 | $0.12 | ||
| Q4 24 | $1.10 | $0.31 | ||
| Q3 24 | $0.38 | $0.44 | ||
| Q2 24 | $0.47 | $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 | $55.9M | $699.1M |
| Total DebtLower is stronger | $8.2B | $7.1M |
| Stockholders' EquityBook value | $11.0B | $1.9B |
| Total Assets | $20.7B | $4.4B |
| Debt / EquityLower = less leverage | 0.75× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $55.9M | $27.6M | ||
| Q3 25 | $93.1M | $13.5M | ||
| Q2 25 | $31.3M | $19.6M | ||
| Q1 25 | $39.8M | $24.1M | ||
| Q4 24 | $62.3M | $20.0M | ||
| Q3 24 | $28.6M | $23.0M | ||
| Q2 24 | $38.3M | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $8.2B | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.2B | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $11.0B | $2.1B | ||
| Q3 25 | $11.1B | $2.1B | ||
| Q2 25 | $11.0B | $2.0B | ||
| Q1 25 | $11.0B | $2.0B | ||
| Q4 24 | $11.0B | $2.0B | ||
| Q3 24 | $10.9B | $2.0B | ||
| Q2 24 | $11.0B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $20.7B | $3.6B | ||
| Q3 25 | $21.1B | $3.5B | ||
| Q2 25 | $21.0B | $3.4B | ||
| Q1 25 | $20.6B | $3.4B | ||
| Q4 24 | $20.8B | $3.3B | ||
| Q3 24 | $20.9B | $3.3B | ||
| Q2 24 | $19.8B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 0.75× | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.74× | 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 | $387.0M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 13.1% |
| Cash ConversionOCF / Net Profit | 1.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $387.0M | $195.4M | ||
| Q3 25 | $476.7M | $51.5M | ||
| Q2 25 | $359.5M | $170.6M | ||
| Q1 25 | $425.5M | $192.1M | ||
| Q4 24 | $354.2M | $177.3M | ||
| Q3 24 | $401.4M | $244.5M | ||
| Q2 24 | $396.9M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-10.0M | ||
| Q3 25 | — | $-67.2M | ||
| Q2 25 | — | $33.1M | ||
| Q1 25 | — | $58.2M | ||
| Q4 24 | — | $-26.2M | ||
| Q3 24 | — | $77.9M | ||
| Q2 24 | — | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.0% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | -2.8% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 13.2% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 14.6% | ||
| Q2 24 | — | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.01× | 14.28× | ||
| Q3 25 | 1.65× | 1.20× | ||
| Q2 25 | 1.87× | 2.40× | ||
| Q1 25 | 1.66× | 9.55× | ||
| Q4 24 | 0.85× | 3.42× | ||
| Q3 24 | 2.80× | 3.31× | ||
| Q2 24 | 2.24× | 2.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
