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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and SELECT MEDICAL HOLDINGS CORP (SEM). Click either name above to swap in a different company.
SELECT MEDICAL HOLDINGS CORP is the larger business by last-quarter revenue ($1.4B vs $1.0B, roughly 1.4× Liberty Energy Inc.). Liberty Energy Inc. runs the higher net margin — 2.2% vs 1.4%, a 0.8% gap on every dollar of revenue. On growth, SELECT MEDICAL HOLDINGS CORP posted the faster year-over-year revenue change (6.4% vs 4.5%). Over the past eight quarters, SELECT MEDICAL HOLDINGS CORP's revenue compounded faster (2.8% 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.
Select Medical is a healthcare company based in Pennsylvania. It owns long-term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.
LBRT vs SEM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.4B |
| Net Profit | $22.6M | $20.2M |
| Gross Margin | — | — |
| Operating Margin | 2.2% | 4.6% |
| Net Margin | 2.2% | 1.4% |
| Revenue YoY | 4.5% | 6.4% |
| Net Profit YoY | 64.8% | 225.7% |
| EPS (diluted) | $0.14 | $0.17 |
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 | $1.4B | ||
| Q3 25 | $947.4M | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $977.5M | $1.4B | ||
| Q4 24 | $943.6M | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.2B | $1.3B |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $20.2M | ||
| Q3 25 | $43.1M | $28.8M | ||
| Q2 25 | $71.0M | $40.6M | ||
| Q1 25 | $20.1M | $56.7M | ||
| Q4 24 | $51.9M | $-16.1M | ||
| Q3 24 | $73.8M | $55.6M | ||
| Q2 24 | $108.4M | $77.6M |
| 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% | 4.6% | ||
| Q3 25 | -0.3% | 5.4% | ||
| Q2 25 | 3.6% | 6.5% | ||
| Q1 25 | 1.9% | 8.3% | ||
| Q4 24 | 2.6% | 1.6% | ||
| Q3 24 | 9.4% | 4.3% | ||
| Q2 24 | 12.2% | 5.8% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 1.4% | ||
| Q3 25 | 4.5% | 2.1% | ||
| Q2 25 | 6.8% | 3.0% | ||
| Q1 25 | 2.1% | 4.2% | ||
| Q4 24 | 5.5% | -1.2% | ||
| Q3 24 | 6.5% | 4.4% | ||
| Q2 24 | 9.3% | 6.1% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $0.17 | ||
| Q3 25 | $0.26 | $0.23 | ||
| Q2 25 | $0.43 | $0.32 | ||
| Q1 25 | $0.12 | $0.44 | ||
| Q4 24 | $0.31 | $-0.12 | ||
| Q3 24 | $0.44 | $0.43 | ||
| Q2 24 | $0.64 | $0.60 |
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 | $26.5M |
| Total DebtLower is stronger | $7.1M | $1.8B |
| Stockholders' EquityBook value | $1.9B | $1.7B |
| Total Assets | $4.4B | $5.9B |
| Debt / EquityLower = less leverage | 0.00× | 1.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $26.5M | ||
| Q3 25 | $13.5M | $60.1M | ||
| Q2 25 | $19.6M | $52.3M | ||
| Q1 25 | $24.1M | $53.2M | ||
| Q4 24 | $20.0M | $59.7M | ||
| Q3 24 | $23.0M | $191.5M | ||
| Q2 24 | $30.0M | $111.2M |
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $190.5M | $1.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.6B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $1.7B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $2.0B | $1.7B | ||
| Q4 24 | $2.0B | $1.7B | ||
| Q3 24 | $2.0B | $1.9B | ||
| Q2 24 | $1.9B | $1.4B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $5.9B | ||
| Q3 25 | $3.5B | $5.7B | ||
| Q2 25 | $3.4B | $5.7B | ||
| Q1 25 | $3.4B | $5.7B | ||
| Q4 24 | $3.3B | $5.6B | ||
| Q3 24 | $3.3B | $8.0B | ||
| Q2 24 | $3.2B | $7.9B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | 1.06× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | 0.10× | 1.01× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 2.54× |
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 | — | $64.3M |
| Free Cash FlowOCF − Capex | — | $5.2M |
| FCF MarginFCF / Revenue | — | 0.4% |
| Capex IntensityCapex / Revenue | 13.1% | 4.2% |
| Cash ConversionOCF / Net Profit | — | 3.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $117.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $64.3M | ||
| Q3 25 | $51.5M | $175.3M | ||
| Q2 25 | $170.6M | $110.3M | ||
| Q1 25 | $192.1M | $-3.5M | ||
| Q4 24 | $177.3M | $125.4M | ||
| Q3 24 | $244.5M | $181.0M | ||
| Q2 24 | $248.2M | $278.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $5.2M | ||
| Q3 25 | $-67.2M | $122.2M | ||
| Q2 25 | $33.1M | $45.6M | ||
| Q1 25 | $58.2M | $-55.8M | ||
| Q4 24 | $-26.2M | $62.0M | ||
| Q3 24 | $77.9M | $130.3M | ||
| Q2 24 | $112.2M | $222.6M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 0.4% | ||
| Q3 25 | -7.1% | 9.0% | ||
| Q2 25 | 3.2% | 3.4% | ||
| Q1 25 | 6.0% | -4.1% | ||
| Q4 24 | -2.8% | 4.7% | ||
| Q3 24 | 6.8% | 10.2% | ||
| Q2 24 | 9.7% | 17.4% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 4.2% | ||
| Q3 25 | 12.5% | 3.9% | ||
| Q2 25 | 13.2% | 4.8% | ||
| Q1 25 | 13.7% | 3.9% | ||
| Q4 24 | 21.6% | 4.8% | ||
| Q3 24 | 14.6% | 4.0% | ||
| Q2 24 | 11.7% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 3.19× | ||
| Q3 25 | 1.20× | 6.09× | ||
| Q2 25 | 2.40× | 2.72× | ||
| Q1 25 | 9.55× | -0.06× | ||
| Q4 24 | 3.42× | — | ||
| Q3 24 | 3.31× | 3.25× | ||
| Q2 24 | 2.29× | 3.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
