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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and PJT Partners Inc. (PJT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $531.4M, roughly 1.9× PJT Partners Inc.). PJT Partners Inc. runs the higher net margin — 10.0% vs 2.2%, a 7.8% gap on every dollar of revenue. On growth, PJT Partners Inc. posted the faster year-over-year revenue change (12.9% vs 4.5%). Over the past eight quarters, PJT Partners Inc.'s revenue compounded faster (27.5% 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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
LBRT vs PJT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $531.4M |
| Net Profit | $22.6M | $53.4M |
| Gross Margin | — | — |
| Operating Margin | 2.2% | 23.1% |
| Net Margin | 2.2% | 10.0% |
| Revenue YoY | 4.5% | 12.9% |
| Net Profit YoY | — | 4.0% |
| EPS (diluted) | $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 | $1.0B | $531.4M | ||
| Q3 25 | $947.4M | $442.3M | ||
| Q2 25 | $1.0B | $401.1M | ||
| Q1 25 | $977.5M | $321.9M | ||
| Q4 24 | $943.6M | $470.5M | ||
| Q3 24 | $1.1B | $320.3M | ||
| Q2 24 | $1.2B | $358.1M |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $53.4M | ||
| Q3 25 | $43.1M | $39.8M | ||
| Q2 25 | $71.0M | $32.9M | ||
| Q1 25 | $20.1M | $54.0M | ||
| Q4 24 | $51.9M | $51.3M | ||
| Q3 24 | $73.8M | $22.1M | ||
| Q2 24 | $108.4M | $28.3M |
| 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 | 1.9% | 23.1% | ||
| Q3 25 | -0.3% | 20.6% | ||
| Q2 25 | 3.6% | 19.1% | ||
| Q1 25 | 1.9% | 16.3% | ||
| Q4 24 | 2.6% | 21.9% | ||
| Q3 24 | 9.4% | 15.4% | ||
| Q2 24 | 12.2% | 18.0% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 10.0% | ||
| Q3 25 | 4.5% | 9.0% | ||
| Q2 25 | 6.8% | 8.2% | ||
| Q1 25 | 2.1% | 16.8% | ||
| Q4 24 | 5.5% | 10.9% | ||
| Q3 24 | 6.5% | 6.9% | ||
| Q2 24 | 9.3% | 7.9% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | — | ||
| Q3 25 | $0.26 | — | ||
| Q2 25 | $0.43 | — | ||
| Q1 25 | $0.12 | — | ||
| Q4 24 | $0.31 | — | ||
| Q3 24 | $0.44 | — | ||
| Q2 24 | $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 | $699.1M | $538.9M |
| Total DebtLower is stronger | $7.1M | — |
| Stockholders' EquityBook value | $1.9B | $308.2M |
| Total Assets | $4.4B | $1.8B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $538.9M | ||
| Q3 25 | $13.5M | $400.5M | ||
| Q2 25 | $19.6M | $214.6M | ||
| Q1 25 | $24.1M | $194.3M | ||
| Q4 24 | $20.0M | $483.9M | ||
| Q3 24 | $23.0M | $148.8M | ||
| Q2 24 | $30.0M | $164.2M |
| 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 | $2.1B | $308.2M | ||
| Q3 25 | $2.1B | $228.6M | ||
| Q2 25 | $2.0B | $167.4M | ||
| Q1 25 | $2.0B | $148.8M | ||
| Q4 24 | $2.0B | $187.0M | ||
| Q3 24 | $2.0B | $159.1M | ||
| Q2 24 | $1.9B | $133.8M |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $1.8B | ||
| Q3 25 | $3.5B | $1.7B | ||
| Q2 25 | $3.4B | $1.5B | ||
| Q1 25 | $3.4B | $1.4B | ||
| Q4 24 | $3.3B | $1.6B | ||
| Q3 24 | $3.3B | $1.6B | ||
| Q2 24 | $3.2B | $1.4B |
| 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 | — | $155.7M |
| Free Cash FlowOCF − Capex | — | $138.6M |
| FCF MarginFCF / Revenue | — | 26.1% |
| Capex IntensityCapex / Revenue | 13.1% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 2.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $480.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $155.7M | ||
| Q3 25 | $51.5M | $256.1M | ||
| Q2 25 | $170.6M | $190.4M | ||
| Q1 25 | $192.1M | $-75.9M | ||
| Q4 24 | $177.3M | $195.7M | ||
| Q3 24 | $244.5M | $180.5M | ||
| Q2 24 | $248.2M | $193.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $138.6M | ||
| Q3 25 | $-67.2M | $240.9M | ||
| Q2 25 | $33.1M | $178.9M | ||
| Q1 25 | $58.2M | $-77.9M | ||
| Q4 24 | $-26.2M | $195.3M | ||
| Q3 24 | $77.9M | $178.5M | ||
| Q2 24 | $112.2M | $193.0M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 26.1% | ||
| Q3 25 | -7.1% | 54.5% | ||
| Q2 25 | 3.2% | 44.6% | ||
| Q1 25 | 6.0% | -24.2% | ||
| Q4 24 | -2.8% | 41.5% | ||
| Q3 24 | 6.8% | 55.7% | ||
| Q2 24 | 9.7% | 53.9% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 3.2% | ||
| Q3 25 | 12.5% | 3.4% | ||
| Q2 25 | 13.2% | 2.9% | ||
| Q1 25 | 13.7% | 0.6% | ||
| Q4 24 | 21.6% | 0.1% | ||
| Q3 24 | 14.6% | 0.6% | ||
| Q2 24 | 11.7% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 2.92× | ||
| Q3 25 | 1.20× | 6.43× | ||
| Q2 25 | 2.40× | 5.79× | ||
| Q1 25 | 9.55× | -1.41× | ||
| Q4 24 | 3.42× | 3.81× | ||
| Q3 24 | 3.31× | 8.15× | ||
| Q2 24 | 2.29× | 6.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
