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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and QuidelOrtho Corp (QDEL). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $699.9M, roughly 1.5× QuidelOrtho Corp). Liberty Energy Inc. runs the higher net margin — 2.2% vs -104.7%, a 106.9% gap on every dollar of revenue. On growth, Liberty Energy Inc. posted the faster year-over-year revenue change (4.5% vs -3.7%). Over the past eight quarters, QuidelOrtho Corp's revenue compounded faster (-2.9% 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.
QuidelOrtho Corporation is an American manufacturer of diagnostic healthcare products that are sold worldwide.
LBRT vs QDEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $699.9M |
| Net Profit | $22.6M | $-733.0M |
| Gross Margin | — | — |
| Operating Margin | 2.2% | -100.7% |
| Net Margin | 2.2% | -104.7% |
| Revenue YoY | 4.5% | -3.7% |
| Net Profit YoY | — | -3583.4% |
| EPS (diluted) | $0.14 | $-10.78 |
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 | — | ||
| Q3 25 | $947.4M | $699.9M | ||
| Q2 25 | $1.0B | $613.9M | ||
| Q1 25 | $977.5M | $692.8M | ||
| Q4 24 | $943.6M | $707.8M | ||
| Q3 24 | $1.1B | $727.1M | ||
| Q2 24 | $1.2B | $637.0M |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | — | ||
| Q3 25 | $43.1M | $-733.0M | ||
| Q2 25 | $71.0M | $-255.4M | ||
| Q1 25 | $20.1M | $-12.7M | ||
| Q4 24 | $51.9M | $-178.4M | ||
| Q3 24 | $73.8M | $-19.9M | ||
| Q2 24 | $108.4M | $-147.7M |
| 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% | — | ||
| Q3 25 | -0.3% | -100.7% | ||
| Q2 25 | 3.6% | -29.4% | ||
| Q1 25 | 1.9% | 4.7% | ||
| Q4 24 | 2.6% | -14.2% | ||
| Q3 24 | 9.4% | 2.1% | ||
| Q2 24 | 12.2% | -18.4% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 4.5% | -104.7% | ||
| Q2 25 | 6.8% | -41.6% | ||
| Q1 25 | 2.1% | -1.8% | ||
| Q4 24 | 5.5% | -25.2% | ||
| Q3 24 | 6.5% | -2.7% | ||
| Q2 24 | 9.3% | -23.2% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | — | ||
| Q3 25 | $0.26 | $-10.78 | ||
| Q2 25 | $0.43 | $-3.77 | ||
| Q1 25 | $0.12 | $-0.19 | ||
| Q4 24 | $0.31 | $-2.54 | ||
| Q3 24 | $0.44 | $-0.30 | ||
| Q2 24 | $0.64 | $-2.20 |
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 | $98.1M |
| Total DebtLower is stronger | $7.1M | $2.5B |
| Stockholders' EquityBook value | $1.9B | $2.0B |
| Total Assets | $4.4B | $5.7B |
| Debt / EquityLower = less leverage | 0.00× | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | — | ||
| Q3 25 | $13.5M | $98.1M | ||
| Q2 25 | $19.6M | $151.7M | ||
| Q1 25 | $24.1M | $127.1M | ||
| Q4 24 | $20.0M | $98.3M | ||
| Q3 24 | $23.0M | $143.7M | ||
| Q2 24 | $30.0M | $107.0M |
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | — | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $190.5M | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $2.0B | $2.8B | ||
| Q1 25 | $2.0B | $3.0B | ||
| Q4 24 | $2.0B | $3.0B | ||
| Q3 24 | $2.0B | $3.2B | ||
| Q2 24 | $1.9B | $3.2B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.5B | $5.7B | ||
| Q2 25 | $3.4B | $6.4B | ||
| Q1 25 | $3.4B | $6.5B | ||
| Q4 24 | $3.3B | $6.4B | ||
| Q3 24 | $3.3B | $6.8B | ||
| Q2 24 | $3.2B | $6.7B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | — | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 0.74× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 0.10× | 0.72× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.70× |
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 | — | $-45.5M |
| Free Cash FlowOCF − Capex | — | $-94.7M |
| FCF MarginFCF / Revenue | — | -13.5% |
| Capex IntensityCapex / Revenue | 13.1% | 7.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-153.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | — | ||
| Q3 25 | $51.5M | $-45.5M | ||
| Q2 25 | $170.6M | $-46.8M | ||
| Q1 25 | $192.1M | $65.6M | ||
| Q4 24 | $177.3M | $63.7M | ||
| Q3 24 | $244.5M | $117.9M | ||
| Q2 24 | $248.2M | $-97.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | — | ||
| Q3 25 | $-67.2M | $-94.7M | ||
| Q2 25 | $33.1M | $-84.3M | ||
| Q1 25 | $58.2M | $9.4M | ||
| Q4 24 | $-26.2M | $16.5M | ||
| Q3 24 | $77.9M | $71.4M | ||
| Q2 24 | $112.2M | $-133.2M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | — | ||
| Q3 25 | -7.1% | -13.5% | ||
| Q2 25 | 3.2% | -13.7% | ||
| Q1 25 | 6.0% | 1.4% | ||
| Q4 24 | -2.8% | 2.3% | ||
| Q3 24 | 6.8% | 9.8% | ||
| Q2 24 | 9.7% | -20.9% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | — | ||
| Q3 25 | 12.5% | 7.0% | ||
| Q2 25 | 13.2% | 6.1% | ||
| Q1 25 | 13.7% | 8.1% | ||
| Q4 24 | 21.6% | 6.7% | ||
| Q3 24 | 14.6% | 6.4% | ||
| Q2 24 | 11.7% | 5.5% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 2.40× | — | ||
| Q1 25 | 9.55× | — | ||
| Q4 24 | 3.42× | — | ||
| Q3 24 | 3.31× | — | ||
| Q2 24 | 2.29× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
QDEL
| Labs | $373.8M | 53% |
| Point Of Care | $164.6M | 24% |
| Immunohematology | $142.0M | 20% |
| Donor Screening | $14.7M | 2% |
| Molecular Diagnostics | $4.8M | 1% |
| Collaborative Arrangement Transaction With Party To Collaborative Arrangement | $2.1M | 0% |
