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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and Public Storage (PSA). Click either name above to swap in a different company.
Public Storage is the larger business by last-quarter revenue ($1.2B vs $1.0B, roughly 1.2× Liberty Energy Inc.). Public Storage runs the higher net margin — 41.7% vs 2.2%, a 39.5% gap on every dollar of revenue. On growth, Liberty Energy Inc. posted the faster year-over-year revenue change (4.5% vs 3.3%). Over the past eight quarters, Public Storage's revenue compounded faster (2.5% 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.
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
LBRT vs PSA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.2B |
| Net Profit | $22.6M | $507.1M |
| Gross Margin | — | — |
| Operating Margin | 2.2% | 40.7% |
| Net Margin | 2.2% | 41.7% |
| Revenue YoY | 4.5% | 3.3% |
| Net Profit YoY | 64.8% | -17.5% |
| EPS (diluted) | $0.14 | $2.59 |
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 | $1.2B | ||
| Q3 25 | $947.4M | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $977.5M | $1.2B | ||
| Q4 24 | $943.6M | $1.2B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $507.1M | ||
| Q3 25 | $43.1M | $511.1M | ||
| Q2 25 | $71.0M | $358.4M | ||
| Q1 25 | $20.1M | $407.8M | ||
| Q4 24 | $51.9M | $614.6M | ||
| Q3 24 | $73.8M | $430.3M | ||
| Q2 24 | $108.4M | $518.1M |
| 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% | 40.7% | ||
| Q3 25 | -0.3% | 42.3% | ||
| Q2 25 | 3.6% | 30.4% | ||
| Q1 25 | 1.9% | 34.8% | ||
| Q4 24 | 2.6% | 52.4% | ||
| Q3 24 | 9.4% | 36.7% | ||
| Q2 24 | 12.2% | 44.6% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 41.7% | ||
| Q3 25 | 4.5% | 41.8% | ||
| Q2 25 | 6.8% | 29.8% | ||
| Q1 25 | 2.1% | 34.5% | ||
| Q4 24 | 5.5% | 52.2% | ||
| Q3 24 | 6.5% | 36.2% | ||
| Q2 24 | 9.3% | 44.2% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $2.59 | ||
| Q3 25 | $0.26 | $2.62 | ||
| Q2 25 | $0.43 | $1.76 | ||
| Q1 25 | $0.12 | $2.04 | ||
| Q4 24 | $0.31 | $3.22 | ||
| Q3 24 | $0.44 | $2.16 | ||
| Q2 24 | $0.64 | $2.66 |
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 | $318.1M |
| Total DebtLower is stronger | $7.1M | $10.3B |
| Stockholders' EquityBook value | $1.9B | $9.2B |
| Total Assets | $4.4B | $20.2B |
| Debt / EquityLower = less leverage | 0.00× | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $318.1M | ||
| Q3 25 | $13.5M | $296.5M | ||
| Q2 25 | $19.6M | $1.1B | ||
| Q1 25 | $24.1M | $287.2M | ||
| Q4 24 | $20.0M | $447.4M | ||
| Q3 24 | $23.0M | $599.0M | ||
| Q2 24 | $30.0M | $542.3M |
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | $10.3B | ||
| Q3 25 | — | $10.0B | ||
| Q2 25 | — | $10.4B | ||
| Q1 25 | — | $9.4B | ||
| Q4 24 | $190.5M | $9.4B | ||
| Q3 24 | — | $9.5B | ||
| Q2 24 | — | $9.4B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $9.2B | ||
| Q3 25 | $2.1B | $9.3B | ||
| Q2 25 | $2.0B | $9.4B | ||
| Q1 25 | $2.0B | $9.6B | ||
| Q4 24 | $2.0B | $9.7B | ||
| Q3 24 | $2.0B | $9.6B | ||
| Q2 24 | $1.9B | $9.7B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $20.2B | ||
| Q3 25 | $3.5B | $20.1B | ||
| Q2 25 | $3.4B | $20.5B | ||
| Q1 25 | $3.4B | $19.6B | ||
| Q4 24 | $3.3B | $19.8B | ||
| Q3 24 | $3.3B | $19.8B | ||
| Q2 24 | $3.2B | $19.8B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | 1.11× | ||
| Q3 25 | — | 1.08× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 0.10× | 0.96× | ||
| Q3 24 | — | 0.99× | ||
| Q2 24 | — | 0.97× |
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 | — | $733.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 13.1% | — |
| Cash ConversionOCF / Net Profit | — | 1.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $733.6M | ||
| Q3 25 | $51.5M | $875.1M | ||
| Q2 25 | $170.6M | $872.7M | ||
| Q1 25 | $192.1M | $705.1M | ||
| Q4 24 | $177.3M | $768.6M | ||
| Q3 24 | $244.5M | $798.8M | ||
| Q2 24 | $248.2M | $895.3M |
| 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 | 14.28× | 1.45× | ||
| Q3 25 | 1.20× | 1.71× | ||
| Q2 25 | 2.40× | 2.43× | ||
| Q1 25 | 9.55× | 1.73× | ||
| Q4 24 | 3.42× | 1.25× | ||
| Q3 24 | 3.31× | 1.86× | ||
| Q2 24 | 2.29× | 1.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
