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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and Frontier Group Holdings, Inc. (ULCC). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $997.0M, roughly 1.0× Frontier Group Holdings, Inc.). Frontier Group Holdings, Inc. runs the higher net margin — 5.3% vs 2.2%, a 3.1% gap on every dollar of revenue. On growth, Liberty Energy Inc. posted the faster year-over-year revenue change (4.5% vs -0.5%). Over the past eight quarters, Frontier Group Holdings, Inc.'s revenue compounded faster (7.4% 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.
Frontier Communications Parent, Inc. is an American telecommunications company with a fiber-optic network and cloud-based services owned by Verizon. It was previously known as Citizens Utilities Co., Citizens Communications Co., and Frontier Communications Corp.
LBRT vs ULCC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $997.0M |
| Net Profit | $22.6M | $53.0M |
| Gross Margin | — | — |
| Operating Margin | 2.2% | 4.9% |
| Net Margin | 2.2% | 5.3% |
| Revenue YoY | 4.5% | -0.5% |
| Net Profit YoY | — | -1.9% |
| EPS (diluted) | $0.14 | $0.24 |
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 | $997.0M | ||
| Q3 25 | $947.4M | $886.0M | ||
| Q2 25 | $1.0B | $929.0M | ||
| Q1 25 | $977.5M | $912.0M | ||
| Q4 24 | $943.6M | $1.0B | ||
| Q3 24 | $1.1B | $935.0M | ||
| Q2 24 | $1.2B | $973.0M |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $53.0M | ||
| Q3 25 | $43.1M | $-77.0M | ||
| Q2 25 | $71.0M | $-70.0M | ||
| Q1 25 | $20.1M | $-43.0M | ||
| Q4 24 | $51.9M | $54.0M | ||
| Q3 24 | $73.8M | $26.0M | ||
| Q2 24 | $108.4M | $31.0M |
| 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% | 4.9% | ||
| Q3 25 | -0.3% | -8.7% | ||
| Q2 25 | 3.6% | -8.1% | ||
| Q1 25 | 1.9% | -5.0% | ||
| Q4 24 | 2.6% | 4.5% | ||
| Q3 24 | 9.4% | 2.0% | ||
| Q2 24 | 12.2% | 2.6% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 5.3% | ||
| Q3 25 | 4.5% | -8.7% | ||
| Q2 25 | 6.8% | -7.5% | ||
| Q1 25 | 2.1% | -4.7% | ||
| Q4 24 | 5.5% | 5.4% | ||
| Q3 24 | 6.5% | 2.8% | ||
| Q2 24 | 9.3% | 3.2% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $0.24 | ||
| Q3 25 | $0.26 | $-0.34 | ||
| Q2 25 | $0.43 | $-0.31 | ||
| Q1 25 | $0.12 | $-0.19 | ||
| Q4 24 | $0.31 | $0.24 | ||
| Q3 24 | $0.44 | $0.11 | ||
| Q2 24 | $0.64 | $0.14 |
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 | $671.0M |
| Total DebtLower is stronger | $7.1M | $620.0M |
| Stockholders' EquityBook value | $1.9B | $491.0M |
| Total Assets | $4.4B | $7.2B |
| Debt / EquityLower = less leverage | 0.00× | 1.26× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $671.0M | ||
| Q3 25 | $13.5M | $566.0M | ||
| Q2 25 | $19.6M | $563.0M | ||
| Q1 25 | $24.1M | $686.0M | ||
| Q4 24 | $20.0M | $740.0M | ||
| Q3 24 | $23.0M | $576.0M | ||
| Q2 24 | $30.0M | $658.0M |
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | $620.0M | ||
| Q3 25 | — | $673.0M | ||
| Q2 25 | — | $565.0M | ||
| Q1 25 | — | $512.0M | ||
| Q4 24 | $190.5M | $507.0M | ||
| Q3 24 | — | $474.0M | ||
| Q2 24 | — | $455.0M |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $491.0M | ||
| Q3 25 | $2.1B | $434.0M | ||
| Q2 25 | $2.0B | $506.0M | ||
| Q1 25 | $2.0B | $570.0M | ||
| Q4 24 | $2.0B | $604.0M | ||
| Q3 24 | $2.0B | $549.0M | ||
| Q2 24 | $1.9B | $520.0M |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $7.2B | ||
| Q3 25 | $3.5B | $6.7B | ||
| Q2 25 | $3.4B | $6.5B | ||
| Q1 25 | $3.4B | $6.5B | ||
| Q4 24 | $3.3B | $6.2B | ||
| Q3 24 | $3.3B | $5.8B | ||
| Q2 24 | $3.2B | $5.7B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | 1.26× | ||
| Q3 25 | — | 1.55× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | 0.10× | 0.84× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.88× |
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 | — | $-91.0M |
| Free Cash FlowOCF − Capex | — | $-113.0M |
| FCF MarginFCF / Revenue | — | -11.3% |
| Capex IntensityCapex / Revenue | 13.1% | 2.2% |
| Cash ConversionOCF / Net Profit | — | -1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-600.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $-91.0M | ||
| Q3 25 | $51.5M | $-215.0M | ||
| Q2 25 | $170.6M | $-133.0M | ||
| Q1 25 | $192.1M | $-86.0M | ||
| Q4 24 | $177.3M | $87.0M | ||
| Q3 24 | $244.5M | $-156.0M | ||
| Q2 24 | $248.2M | $9.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $-113.0M | ||
| Q3 25 | $-67.2M | $-217.0M | ||
| Q2 25 | $33.1M | $-166.0M | ||
| Q1 25 | $58.2M | $-104.0M | ||
| Q4 24 | $-26.2M | $73.0M | ||
| Q3 24 | $77.9M | $-170.0M | ||
| Q2 24 | $112.2M | $-22.0M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | -11.3% | ||
| Q3 25 | -7.1% | -24.5% | ||
| Q2 25 | 3.2% | -17.9% | ||
| Q1 25 | 6.0% | -11.4% | ||
| Q4 24 | -2.8% | 7.3% | ||
| Q3 24 | 6.8% | -18.2% | ||
| Q2 24 | 9.7% | -2.3% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 2.2% | ||
| Q3 25 | 12.5% | 0.2% | ||
| Q2 25 | 13.2% | 3.6% | ||
| Q1 25 | 13.7% | 2.0% | ||
| Q4 24 | 21.6% | 1.4% | ||
| Q3 24 | 14.6% | 1.5% | ||
| Q2 24 | 11.7% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | -1.72× | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 2.40× | — | ||
| Q1 25 | 9.55× | — | ||
| Q4 24 | 3.42× | 1.61× | ||
| Q3 24 | 3.31× | -6.00× | ||
| Q2 24 | 2.29× | 0.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
Segment breakdown not available.
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
