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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and PATRICK INDUSTRIES INC (PATK). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $924.2M, roughly 1.1× PATRICK INDUSTRIES INC). PATRICK INDUSTRIES INC runs the higher net margin — 3.1% vs 2.2%, a 0.9% gap on every dollar of revenue. On growth, PATRICK INDUSTRIES INC posted the faster year-over-year revenue change (9.2% vs 4.5%). Over the past eight quarters, PATRICK INDUSTRIES INC's revenue compounded faster (-0.5% CAGR vs -6.2%).
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.
Anduril Industries, Inc. is an American defense technology company specializing in the development of advanced autonomous systems.
LBRT vs PATK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $924.2M |
| Net Profit | $22.6M | $29.1M |
| Gross Margin | — | 23.0% |
| Operating Margin | 2.2% | 6.2% |
| Net Margin | 2.2% | 3.1% |
| Revenue YoY | 4.5% | 9.2% |
| Net Profit YoY | — | 99.7% |
| EPS (diluted) | $0.14 | $0.82 |
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 | $1.0B | $924.2M | ||
| Q3 25 | $947.4M | $975.6M | ||
| Q2 25 | $1.0B | $1.0B | ||
| Q1 25 | $977.5M | $1.0B | ||
| Q4 24 | $943.6M | $846.1M | ||
| Q3 24 | $1.1B | $919.4M | ||
| Q2 24 | $1.2B | $1.0B |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $29.1M | ||
| Q3 25 | $43.1M | $35.3M | ||
| Q2 25 | $71.0M | $32.4M | ||
| Q1 25 | $20.1M | $38.2M | ||
| Q4 24 | $51.9M | $14.6M | ||
| Q3 24 | $73.8M | $40.9M | ||
| Q2 24 | $108.4M | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | 23.0% | ||
| Q3 25 | 18.7% | 22.6% | ||
| Q2 25 | 22.1% | 23.9% | ||
| Q1 25 | 22.1% | 22.8% | ||
| Q4 24 | 21.4% | 22.1% | ||
| Q3 24 | 26.2% | 23.1% | ||
| Q2 24 | 27.9% | 22.8% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.9% | 6.2% | ||
| Q3 25 | -0.3% | 6.8% | ||
| Q2 25 | 3.6% | 8.3% | ||
| Q1 25 | 1.9% | 6.5% | ||
| Q4 24 | 2.6% | 4.7% | ||
| Q3 24 | 9.4% | 8.1% | ||
| Q2 24 | 12.2% | 8.3% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 3.1% | ||
| Q3 25 | 4.5% | 3.6% | ||
| Q2 25 | 6.8% | 3.1% | ||
| Q1 25 | 2.1% | 3.8% | ||
| Q4 24 | 5.5% | 1.7% | ||
| Q3 24 | 6.5% | 4.4% | ||
| Q2 24 | 9.3% | 4.7% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $0.82 | ||
| Q3 25 | $0.26 | $1.01 | ||
| Q2 25 | $0.43 | $0.96 | ||
| Q1 25 | $0.12 | $1.11 | ||
| Q4 24 | $0.31 | $-1.44 | ||
| Q3 24 | $0.44 | $1.80 | ||
| Q2 24 | $0.64 | $2.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $699.1M | $26.4M |
| Total DebtLower is stronger | $7.1M | $1.3B |
| Stockholders' EquityBook value | $1.9B | $1.2B |
| Total Assets | $4.4B | $3.1B |
| Debt / EquityLower = less leverage | 0.00× | 1.10× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $26.4M | ||
| Q3 25 | $13.5M | $20.7M | ||
| Q2 25 | $19.6M | $22.0M | ||
| Q1 25 | $24.1M | $86.6M | ||
| Q4 24 | $20.0M | $33.6M | ||
| Q3 24 | $23.0M | $52.6M | ||
| Q2 24 | $30.0M | $44.0M |
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | $1.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $190.5M | $1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $2.0B | $1.1B | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $2.0B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $3.1B | ||
| Q3 25 | $3.5B | $3.1B | ||
| Q2 25 | $3.4B | $3.1B | ||
| Q1 25 | $3.4B | $3.2B | ||
| Q4 24 | $3.3B | $3.0B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.2B | $3.0B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | 1.10× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | 1.18× | ||
| 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 | — | $130.8M |
| Free Cash FlowOCF − Capex | — | $112.7M |
| FCF MarginFCF / Revenue | — | 12.2% |
| Capex IntensityCapex / Revenue | 13.1% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 4.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $246.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $130.8M | ||
| Q3 25 | $51.5M | $9.1M | ||
| Q2 25 | $170.6M | $149.4M | ||
| Q1 25 | $192.1M | $40.1M | ||
| Q4 24 | $177.3M | $102.7M | ||
| Q3 24 | $244.5M | $51.5M | ||
| Q2 24 | $248.2M | $137.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $112.7M | ||
| Q3 25 | $-67.2M | $-17.2M | ||
| Q2 25 | $33.1M | $131.1M | ||
| Q1 25 | $58.2M | $19.9M | ||
| Q4 24 | $-26.2M | $77.2M | ||
| Q3 24 | $77.9M | $33.7M | ||
| Q2 24 | $112.2M | $120.6M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 12.2% | ||
| Q3 25 | -7.1% | -1.8% | ||
| Q2 25 | 3.2% | 12.5% | ||
| Q1 25 | 6.0% | 2.0% | ||
| Q4 24 | -2.8% | 9.1% | ||
| Q3 24 | 6.8% | 3.7% | ||
| Q2 24 | 9.7% | 11.9% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 2.0% | ||
| Q3 25 | 12.5% | 2.7% | ||
| Q2 25 | 13.2% | 1.7% | ||
| Q1 25 | 13.7% | 2.0% | ||
| Q4 24 | 21.6% | 3.0% | ||
| Q3 24 | 14.6% | 1.9% | ||
| Q2 24 | 11.7% | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 4.50× | ||
| Q3 25 | 1.20× | 0.26× | ||
| Q2 25 | 2.40× | 4.61× | ||
| Q1 25 | 9.55× | 1.05× | ||
| Q4 24 | 3.42× | 7.05× | ||
| Q3 24 | 3.31× | 1.26× | ||
| Q2 24 | 2.29× | 2.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
PATK
| Recreational Vehicle | $276.3M | 30% |
| Distribution | $222.4M | 24% |
| Marine | $141.9M | 15% |
| Industrial | $110.8M | 12% |
| Powersports | $104.8M | 11% |
| Manufactured Housing | $67.9M | 7% |
