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Side-by-side financial comparison of IES Holdings, Inc. (IESC) 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 $871.0M, roughly 1.2× IES Holdings, Inc.). IES Holdings, Inc. runs the higher net margin — 10.5% vs 2.2%, a 8.3% gap on every dollar of revenue. On growth, IES Holdings, Inc. posted the faster year-over-year revenue change (16.2% vs 4.5%). Over the past eight quarters, IES Holdings, Inc.'s revenue compounded faster (11.1% CAGR vs -6.2%).
IES Holdings, Inc., formerly known as Integrated Electrical Services, Inc., designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities.
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.
IESC vs LBRT — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $871.0M | $1.0B |
| Net Profit | $91.8M | $22.6M |
| Gross Margin | 25.3% | — |
| Operating Margin | 11.2% | 2.2% |
| Net Margin | 10.5% | 2.2% |
| Revenue YoY | 16.2% | 4.5% |
| Net Profit YoY | 59.1% | — |
| EPS (diluted) | $4.51 | $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 | $871.0M | $1.0B | ||
| Q3 25 | $897.8M | $947.4M | ||
| Q2 25 | $890.2M | $1.0B | ||
| Q1 25 | $834.0M | $977.5M | ||
| Q4 24 | $749.5M | $943.6M | ||
| Q3 24 | $775.8M | $1.1B | ||
| Q2 24 | $768.4M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $91.8M | $13.7M | ||
| Q3 25 | $102.3M | $43.1M | ||
| Q2 25 | $79.3M | $71.0M | ||
| Q1 25 | $72.6M | $20.1M | ||
| Q4 24 | $57.7M | $51.9M | ||
| Q3 24 | $65.5M | $73.8M | ||
| Q2 24 | $66.6M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | 25.3% | 20.6% | ||
| Q3 25 | 26.0% | 18.7% | ||
| Q2 25 | 26.9% | 22.1% | ||
| Q1 25 | 25.0% | 22.1% | ||
| Q4 24 | 23.8% | 21.4% | ||
| Q3 24 | 24.0% | 26.2% | ||
| Q2 24 | 25.3% | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 11.2% | 1.9% | ||
| Q3 25 | 11.6% | -0.3% | ||
| Q2 25 | 12.6% | 3.6% | ||
| Q1 25 | 11.1% | 1.9% | ||
| Q4 24 | 10.0% | 2.6% | ||
| Q3 24 | 9.7% | 9.4% | ||
| Q2 24 | 11.7% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 10.5% | 1.3% | ||
| Q3 25 | 11.4% | 4.5% | ||
| Q2 25 | 8.9% | 6.8% | ||
| Q1 25 | 8.7% | 2.1% | ||
| Q4 24 | 7.7% | 5.5% | ||
| Q3 24 | 8.4% | 6.5% | ||
| Q2 24 | 8.7% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $4.51 | $0.08 | ||
| Q3 25 | $4.99 | $0.26 | ||
| Q2 25 | $3.81 | $0.43 | ||
| Q1 25 | $3.50 | $0.12 | ||
| Q4 24 | $2.72 | $0.31 | ||
| Q3 24 | $3.06 | $0.44 | ||
| Q2 24 | $2.67 | $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 | $258.7M | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $961.1M | $1.9B |
| Total Assets | $1.7B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $258.7M | $27.6M | ||
| Q3 25 | $231.8M | $13.5M | ||
| Q2 25 | $168.3M | $19.6M | ||
| Q1 25 | $88.3M | $24.1M | ||
| Q4 24 | $112.0M | $20.0M | ||
| Q3 24 | $135.8M | $23.0M | ||
| Q2 24 | $44.9M | $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 | $961.1M | $2.1B | ||
| Q3 25 | $884.0M | $2.1B | ||
| Q2 25 | $781.4M | $2.0B | ||
| Q1 25 | $705.8M | $2.0B | ||
| Q4 24 | $652.4M | $2.0B | ||
| Q3 24 | $611.1M | $2.0B | ||
| Q2 24 | $567.5M | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $1.7B | $3.6B | ||
| Q3 25 | $1.6B | $3.5B | ||
| Q2 25 | $1.5B | $3.4B | ||
| Q1 25 | $1.4B | $3.4B | ||
| Q4 24 | $1.3B | $3.3B | ||
| Q3 24 | $1.2B | $3.3B | ||
| Q2 24 | $1.2B | $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 | $27.7M | — |
| Free Cash FlowOCF − Capex | $-18.9M | — |
| FCF MarginFCF / Revenue | -2.2% | — |
| Capex IntensityCapex / Revenue | 5.3% | 13.1% |
| Cash ConversionOCF / Net Profit | 0.30× | — |
| TTM Free Cash FlowTrailing 4 quarters | $175.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $27.7M | $195.4M | ||
| Q3 25 | $132.0M | $51.5M | ||
| Q2 25 | $92.0M | $170.6M | ||
| Q1 25 | $24.8M | $192.1M | ||
| Q4 24 | $37.3M | $177.3M | ||
| Q3 24 | $92.8M | $244.5M | ||
| Q2 24 | $82.9M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-18.9M | $-10.0M | ||
| Q3 25 | $112.0M | $-67.2M | ||
| Q2 25 | $74.8M | $33.1M | ||
| Q1 25 | $7.9M | $58.2M | ||
| Q4 24 | $24.1M | $-26.2M | ||
| Q3 24 | $78.5M | $77.9M | ||
| Q2 24 | $65.4M | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | -2.2% | -1.0% | ||
| Q3 25 | 12.5% | -7.1% | ||
| Q2 25 | 8.4% | 3.2% | ||
| Q1 25 | 0.9% | 6.0% | ||
| Q4 24 | 3.2% | -2.8% | ||
| Q3 24 | 10.1% | 6.8% | ||
| Q2 24 | 8.5% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 5.3% | 19.8% | ||
| Q3 25 | 2.2% | 12.5% | ||
| Q2 25 | 1.9% | 13.2% | ||
| Q1 25 | 2.0% | 13.7% | ||
| Q4 24 | 1.8% | 21.6% | ||
| Q3 24 | 1.8% | 14.6% | ||
| Q2 24 | 2.3% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.30× | 14.28× | ||
| Q3 25 | 1.29× | 1.20× | ||
| Q2 25 | 1.16× | 2.40× | ||
| Q1 25 | 0.34× | 9.55× | ||
| Q4 24 | 0.65× | 3.42× | ||
| Q3 24 | 1.42× | 3.31× | ||
| Q2 24 | 1.24× | 2.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
LBRT
Segment breakdown not available.
