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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and Solventum (SOLV). Click either name above to swap in a different company.
Solventum is the larger business by last-quarter revenue ($2.0B vs $1.0B, roughly 2.0× Liberty Energy Inc.). Solventum runs the higher net margin — 3.2% vs 2.2%, a 0.9% 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, Solventum's revenue compounded faster (-0.4% 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.
Solventum Corporation is an American health care company that was spun off from 3M on April 1, 2024.
LBRT vs SOLV — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $2.0B |
| Net Profit | $22.6M | $63.0M |
| Gross Margin | — | 51.4% |
| Operating Margin | 2.2% | 6.3% |
| Net Margin | 2.2% | 3.2% |
| Revenue YoY | 4.5% | -3.7% |
| Net Profit YoY | — | 103.2% |
| EPS (diluted) | $0.14 | $0.37 |
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 | $2.0B | ||
| Q3 25 | $947.4M | $2.1B | ||
| Q2 25 | $1.0B | $2.2B | ||
| Q1 25 | $977.5M | $2.1B | ||
| Q4 24 | $943.6M | $2.1B | ||
| Q3 24 | $1.1B | $2.1B | ||
| Q2 24 | $1.2B | $2.1B |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $63.0M | ||
| Q3 25 | $43.1M | $1.3B | ||
| Q2 25 | $71.0M | $90.0M | ||
| Q1 25 | $20.1M | $137.0M | ||
| Q4 24 | $51.9M | $31.0M | ||
| Q3 24 | $73.8M | $122.0M | ||
| Q2 24 | $108.4M | $89.0M |
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | 51.4% | ||
| Q3 25 | 18.7% | 54.2% | ||
| Q2 25 | 22.1% | 54.4% | ||
| Q1 25 | 22.1% | 53.8% | ||
| Q4 24 | 21.4% | 53.9% | ||
| Q3 24 | 26.2% | 56.0% | ||
| Q2 24 | 27.9% | 54.6% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.9% | 6.3% | ||
| Q3 25 | -0.3% | 80.6% | ||
| Q2 25 | 3.6% | 9.9% | ||
| Q1 25 | 1.9% | 7.3% | ||
| Q4 24 | 2.6% | 6.6% | ||
| Q3 24 | 9.4% | 13.2% | ||
| Q2 24 | 12.2% | 11.7% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 3.2% | ||
| Q3 25 | 4.5% | 60.4% | ||
| Q2 25 | 6.8% | 4.2% | ||
| Q1 25 | 2.1% | 6.6% | ||
| Q4 24 | 5.5% | 1.5% | ||
| Q3 24 | 6.5% | 5.9% | ||
| Q2 24 | 9.3% | 4.3% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $0.37 | ||
| Q3 25 | $0.26 | $7.22 | ||
| Q2 25 | $0.43 | $0.51 | ||
| Q1 25 | $0.12 | $0.78 | ||
| Q4 24 | $0.31 | $0.18 | ||
| Q3 24 | $0.44 | $0.70 | ||
| Q2 24 | $0.64 | $0.51 |
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 | $878.0M |
| Total DebtLower is stronger | $7.1M | $5.0B |
| Stockholders' EquityBook value | $1.9B | $5.0B |
| Total Assets | $4.4B | $14.3B |
| Debt / EquityLower = less leverage | 0.00× | 1.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $878.0M | ||
| Q3 25 | $13.5M | $1.6B | ||
| Q2 25 | $19.6M | $492.0M | ||
| Q1 25 | $24.1M | $534.0M | ||
| Q4 24 | $20.0M | $762.0M | ||
| Q3 24 | $23.0M | $772.0M | ||
| Q2 24 | $30.0M | $897.0M |
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | $5.0B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | $190.5M | $8.0B | ||
| Q3 24 | — | $8.1B | ||
| Q2 24 | — | $8.3B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $5.0B | ||
| Q3 25 | $2.1B | $5.0B | ||
| Q2 25 | $2.0B | $3.6B | ||
| Q1 25 | $2.0B | $3.3B | ||
| Q4 24 | $2.0B | $3.0B | ||
| Q3 24 | $2.0B | $3.2B | ||
| Q2 24 | $1.9B | $2.9B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $14.3B | ||
| Q3 25 | $3.5B | $14.0B | ||
| Q2 25 | $3.4B | $15.1B | ||
| Q1 25 | $3.4B | $14.5B | ||
| Q4 24 | $3.3B | $14.5B | ||
| Q3 24 | $3.3B | $14.7B | ||
| Q2 24 | $3.2B | $14.6B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | 1.00× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 2.43× | ||
| Q4 24 | 0.10× | 2.71× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 2.90× |
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 | — | $95.0M |
| Free Cash FlowOCF − Capex | — | $32.0M |
| FCF MarginFCF / Revenue | — | 1.6% |
| Capex IntensityCapex / Revenue | 13.1% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 1.51× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-10.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $95.0M | ||
| Q3 25 | $51.5M | $76.0M | ||
| Q2 25 | $170.6M | $169.0M | ||
| Q1 25 | $192.1M | $29.0M | ||
| Q4 24 | $177.3M | $219.0M | ||
| Q3 24 | $244.5M | $169.0M | ||
| Q2 24 | $248.2M | $355.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $32.0M | ||
| Q3 25 | $-67.2M | $-21.0M | ||
| Q2 25 | $33.1M | $59.0M | ||
| Q1 25 | $58.2M | $-80.0M | ||
| Q4 24 | $-26.2M | $92.0M | ||
| Q3 24 | $77.9M | $76.0M | ||
| Q2 24 | $112.2M | $297.0M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 1.6% | ||
| Q3 25 | -7.1% | -1.0% | ||
| Q2 25 | 3.2% | 2.7% | ||
| Q1 25 | 6.0% | -3.9% | ||
| Q4 24 | -2.8% | 4.4% | ||
| Q3 24 | 6.8% | 3.7% | ||
| Q2 24 | 9.7% | 14.3% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 3.2% | ||
| Q3 25 | 12.5% | 4.6% | ||
| Q2 25 | 13.2% | 5.1% | ||
| Q1 25 | 13.7% | 5.3% | ||
| Q4 24 | 21.6% | 6.1% | ||
| Q3 24 | 14.6% | 4.5% | ||
| Q2 24 | 11.7% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 1.51× | ||
| Q3 25 | 1.20× | 0.06× | ||
| Q2 25 | 2.40× | 1.88× | ||
| Q1 25 | 9.55× | 0.21× | ||
| Q4 24 | 3.42× | 7.06× | ||
| Q3 24 | 3.31× | 1.39× | ||
| Q2 24 | 2.29× | 3.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
