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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $846.8M, roughly 1.2× Trade Desk (The)). Trade Desk (The) runs the higher net margin — 22.1% vs 2.2%, a 19.9% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs 4.5%). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% 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.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
LBRT vs TTD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $846.8M |
| Net Profit | $22.6M | $186.9M |
| Gross Margin | — | 80.7% |
| Operating Margin | 2.2% | 30.3% |
| Net Margin | 2.2% | 22.1% |
| Revenue YoY | 4.5% | 14.3% |
| Net Profit YoY | 64.8% | 2.6% |
| EPS (diluted) | $0.14 | $0.39 |
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 | $846.8M | ||
| Q3 25 | $947.4M | $739.4M | ||
| Q2 25 | $1.0B | $694.0M | ||
| Q1 25 | $977.5M | $616.0M | ||
| Q4 24 | $943.6M | $741.0M | ||
| Q3 24 | $1.1B | $628.0M | ||
| Q2 24 | $1.2B | $584.5M |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $186.9M | ||
| Q3 25 | $43.1M | $115.5M | ||
| Q2 25 | $71.0M | $90.1M | ||
| Q1 25 | $20.1M | $50.7M | ||
| Q4 24 | $51.9M | $182.2M | ||
| Q3 24 | $73.8M | $94.2M | ||
| Q2 24 | $108.4M | $85.0M |
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | 80.7% | ||
| Q3 25 | 18.7% | 78.1% | ||
| Q2 25 | 22.1% | 78.2% | ||
| Q1 25 | 22.1% | 76.8% | ||
| Q4 24 | 21.4% | 81.7% | ||
| Q3 24 | 26.2% | 80.5% | ||
| Q2 24 | 27.9% | 81.1% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.9% | 30.3% | ||
| Q3 25 | -0.3% | 21.8% | ||
| Q2 25 | 3.6% | 16.8% | ||
| Q1 25 | 1.9% | 8.8% | ||
| Q4 24 | 2.6% | 26.4% | ||
| Q3 24 | 9.4% | 17.3% | ||
| Q2 24 | 12.2% | 16.2% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 22.1% | ||
| Q3 25 | 4.5% | 15.6% | ||
| Q2 25 | 6.8% | 13.0% | ||
| Q1 25 | 2.1% | 8.2% | ||
| Q4 24 | 5.5% | 24.6% | ||
| Q3 24 | 6.5% | 15.0% | ||
| Q2 24 | 9.3% | 14.5% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $0.39 | ||
| Q3 25 | $0.26 | $0.23 | ||
| Q2 25 | $0.43 | $0.18 | ||
| Q1 25 | $0.12 | $0.10 | ||
| Q4 24 | $0.31 | $0.36 | ||
| Q3 24 | $0.44 | $0.19 | ||
| Q2 24 | $0.64 | $0.17 |
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 | $1.3B |
| Total DebtLower is stronger | $7.1M | — |
| Stockholders' EquityBook value | $1.9B | $2.5B |
| Total Assets | $4.4B | $6.2B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $1.3B | ||
| Q3 25 | $13.5M | $1.4B | ||
| Q2 25 | $19.6M | $1.7B | ||
| Q1 25 | $24.1M | $1.7B | ||
| Q4 24 | $20.0M | $1.9B | ||
| Q3 24 | $23.0M | $1.7B | ||
| Q2 24 | $30.0M | $1.5B |
| 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 | $2.5B | ||
| Q3 25 | $2.1B | $2.6B | ||
| Q2 25 | $2.0B | $2.7B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $2.0B | $2.9B | ||
| Q3 24 | $2.0B | $2.6B | ||
| Q2 24 | $1.9B | $2.4B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $6.2B | ||
| Q3 25 | $3.5B | $5.9B | ||
| Q2 25 | $3.4B | $6.0B | ||
| Q1 25 | $3.4B | $5.7B | ||
| Q4 24 | $3.3B | $6.1B | ||
| Q3 24 | $3.3B | $5.5B | ||
| Q2 24 | $3.2B | $5.2B |
| 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 | — | $311.6M |
| Free Cash FlowOCF − Capex | — | $285.3M |
| FCF MarginFCF / Revenue | — | 33.7% |
| Capex IntensityCapex / Revenue | 13.1% | 3.1% |
| Cash ConversionOCF / Net Profit | — | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | — | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $311.6M | ||
| Q3 25 | $51.5M | $224.7M | ||
| Q2 25 | $170.6M | $165.0M | ||
| Q1 25 | $192.1M | $291.4M | ||
| Q4 24 | $177.3M | $199.4M | ||
| Q3 24 | $244.5M | $273.3M | ||
| Q2 24 | $248.2M | $81.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $285.3M | ||
| Q3 25 | $-67.2M | $158.3M | ||
| Q2 25 | $33.1M | $119.8M | ||
| Q1 25 | $58.2M | $232.3M | ||
| Q4 24 | $-26.2M | $179.2M | ||
| Q3 24 | $77.9M | $224.6M | ||
| Q2 24 | $112.2M | $59.1M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 33.7% | ||
| Q3 25 | -7.1% | 21.4% | ||
| Q2 25 | 3.2% | 17.3% | ||
| Q1 25 | 6.0% | 37.7% | ||
| Q4 24 | -2.8% | 24.2% | ||
| Q3 24 | 6.8% | 35.8% | ||
| Q2 24 | 9.7% | 10.1% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 3.1% | ||
| Q3 25 | 12.5% | 9.0% | ||
| Q2 25 | 13.2% | 6.5% | ||
| Q1 25 | 13.7% | 9.6% | ||
| Q4 24 | 21.6% | 2.7% | ||
| Q3 24 | 14.6% | 7.8% | ||
| Q2 24 | 11.7% | 3.8% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 1.67× | ||
| Q3 25 | 1.20× | 1.94× | ||
| Q2 25 | 2.40× | 1.83× | ||
| Q1 25 | 9.55× | 5.75× | ||
| Q4 24 | 3.42× | 1.09× | ||
| Q3 24 | 3.31× | 2.90× | ||
| Q2 24 | 2.29× | 0.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
