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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and TRINITY INDUSTRIES INC (TRN). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $611.2M, roughly 1.7× TRINITY INDUSTRIES INC). TRINITY INDUSTRIES INC runs the higher net margin — 31.8% vs 2.2%, a 29.6% gap on every dollar of revenue. On growth, Liberty Energy Inc. posted the faster year-over-year revenue change (4.5% vs -2.9%). Over the past eight quarters, Liberty Energy Inc.'s revenue compounded faster (-6.2% CAGR vs -13.1%).
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.
Trinity Industries Inc. is an American industrial corporation that owns a variety of businesses which provide products and services to the industrial, energy, transportation and construction sectors.
LBRT vs TRN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $611.2M |
| Net Profit | $22.6M | $194.2M |
| Gross Margin | — | 25.5% |
| Operating Margin | 2.2% | 54.9% |
| Net Margin | 2.2% | 31.8% |
| Revenue YoY | 4.5% | -2.9% |
| Net Profit YoY | — | 413.8% |
| EPS (diluted) | $0.14 | $2.25 |
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 | $611.2M | ||
| Q3 25 | $947.4M | $454.1M | ||
| Q2 25 | $1.0B | $506.2M | ||
| Q1 25 | $977.5M | $585.4M | ||
| Q4 24 | $943.6M | $629.4M | ||
| Q3 24 | $1.1B | $798.8M | ||
| Q2 24 | $1.2B | $841.4M |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $194.2M | ||
| Q3 25 | $43.1M | $30.3M | ||
| Q2 25 | $71.0M | $14.1M | ||
| Q1 25 | $20.1M | $22.1M | ||
| Q4 24 | $51.9M | $37.8M | ||
| Q3 24 | $73.8M | $31.4M | ||
| Q2 24 | $108.4M | $54.4M |
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | 25.5% | ||
| Q3 25 | 18.7% | 31.1% | ||
| Q2 25 | 22.1% | 26.4% | ||
| Q1 25 | 22.1% | 24.3% | ||
| Q4 24 | 21.4% | 24.6% | ||
| Q3 24 | 26.2% | 21.2% | ||
| Q2 24 | 27.9% | 21.3% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.9% | 54.9% | ||
| Q3 25 | -0.3% | 26.1% | ||
| Q2 25 | 3.6% | 18.8% | ||
| Q1 25 | 1.9% | 17.0% | ||
| Q4 24 | 2.6% | 17.8% | ||
| Q3 24 | 9.4% | 15.3% | ||
| Q2 24 | 12.2% | 16.9% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 31.8% | ||
| Q3 25 | 4.5% | 6.7% | ||
| Q2 25 | 6.8% | 2.8% | ||
| Q1 25 | 2.1% | 3.8% | ||
| Q4 24 | 5.5% | 6.0% | ||
| Q3 24 | 6.5% | 3.9% | ||
| Q2 24 | 9.3% | 6.5% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $2.25 | ||
| Q3 25 | $0.26 | $0.37 | ||
| Q2 25 | $0.43 | $0.17 | ||
| Q1 25 | $0.12 | $0.26 | ||
| Q4 24 | $0.31 | $0.34 | ||
| Q3 24 | $0.44 | $0.37 | ||
| Q2 24 | $0.64 | $0.65 |
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 | $201.3M |
| Total DebtLower is stronger | $7.1M | — |
| Stockholders' EquityBook value | $1.9B | $1.1B |
| Total Assets | $4.4B | $8.4B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $201.3M | ||
| Q3 25 | $13.5M | $66.3M | ||
| Q2 25 | $19.6M | $147.7M | ||
| Q1 25 | $24.1M | $94.9M | ||
| Q4 24 | $20.0M | $228.2M | ||
| Q3 24 | $23.0M | $222.4M | ||
| Q2 24 | $30.0M | $257.1M |
| 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 | $1.1B | ||
| Q3 25 | $2.1B | $1.0B | ||
| Q2 25 | $2.0B | $1.0B | ||
| Q1 25 | $2.0B | $1.1B | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $2.0B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $8.4B | ||
| Q3 25 | $3.5B | $8.9B | ||
| Q2 25 | $3.4B | $8.8B | ||
| Q1 25 | $3.4B | $8.7B | ||
| Q4 24 | $3.3B | $8.8B | ||
| Q3 24 | $3.3B | $8.8B | ||
| Q2 24 | $3.2B | $9.0B |
| 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 | — | $177.4M |
| Free Cash FlowOCF − Capex | — | $158.6M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | 13.1% | 3.1% |
| Cash ConversionOCF / Net Profit | — | 0.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $314.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $177.4M | ||
| Q3 25 | $51.5M | $44.2M | ||
| Q2 25 | $170.6M | $61.6M | ||
| Q1 25 | $192.1M | $76.5M | ||
| Q4 24 | $177.3M | $201.6M | ||
| Q3 24 | $244.5M | $78.5M | ||
| Q2 24 | $248.2M | $241.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $158.6M | ||
| Q3 25 | $-67.2M | $35.3M | ||
| Q2 25 | $33.1M | $52.9M | ||
| Q1 25 | $58.2M | $67.3M | ||
| Q4 24 | $-26.2M | $180.1M | ||
| Q3 24 | $77.9M | $62.1M | ||
| Q2 24 | $112.2M | $230.2M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 25.9% | ||
| Q3 25 | -7.1% | 7.8% | ||
| Q2 25 | 3.2% | 10.5% | ||
| Q1 25 | 6.0% | 11.5% | ||
| Q4 24 | -2.8% | 28.6% | ||
| Q3 24 | 6.8% | 7.8% | ||
| Q2 24 | 9.7% | 27.4% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 3.1% | ||
| Q3 25 | 12.5% | 2.0% | ||
| Q2 25 | 13.2% | 1.7% | ||
| Q1 25 | 13.7% | 1.6% | ||
| Q4 24 | 21.6% | 3.4% | ||
| Q3 24 | 14.6% | 2.1% | ||
| Q2 24 | 11.7% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 0.91× | ||
| Q3 25 | 1.20× | 1.46× | ||
| Q2 25 | 2.40× | 4.37× | ||
| Q1 25 | 9.55× | 3.46× | ||
| Q4 24 | 3.42× | 5.33× | ||
| Q3 24 | 3.31× | 2.50× | ||
| Q2 24 | 2.29× | 4.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
TRN
| Manufacturing | $296.5M | 49% |
| Leasing And Management | $234.8M | 38% |
| Maintenance Services Domain | $69.8M | 11% |
| Digital Logistics Services | $11.2M | 2% |
