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Liberty Energy vs Oceaneering International: revenue, profit, margins and growth compared

Liberty Energy brought in $4B of revenue in fiscal 2025, Oceaneering International $2.8B in fiscal 2025. Revenue changed by -7.2% at Liberty Energy and +4.6% at Oceaneering International on the year before, so Oceaneering International grew faster. Liberty Energy kept 3.7% of its revenue as net profit, Oceaneering International 12.7%. Free cash flow was $14.1M at Liberty Energy and $207.8M at Oceaneering International.

Side by side, latest fiscal year

LBRTOII
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4B$2.8B
Revenue growth-7.2%+4.6%
Net income$147.9M$353.8M
Net margin3.7%12.7%
Free cash flow$14.1M$207.8M
Free cash flow margin0.4%7.5%
Earnings per share (diluted)$0.89$3.49
Cash$27.6M$688.9M
Debt$246.6M$487.4M
Price to earnings21.313.3
Market value$3.1B$4.6B
Dividend yield1.74%n/a
Rank by revenue in sector#35 of 129 · Energy#48 of 129 · Energy

Over the years

Revenue
LBRT FY2018: $2.2BLBRT FY2019: $2BLBRT FY2020: $965.8MLBRT FY2021: $2.5BLBRT FY2022: $4.1BLBRT FY2023: $4.7BLBRT FY2024: $4.3BLBRT FY2025: $4BOII FY2018: $1.9BOII FY2019: $2BOII FY2020: $1.8BOII FY2021: $1.9BOII FY2022: $2.1BOII FY2023: $2.4BOII FY2024: $2.7BOII FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
LBRT $4BOII $2.8B
Net income
LBRT FY2018: $126.3MLBRT FY2019: $39MLBRT FY2020: -$115.6MLBRT FY2021: -$179.2MLBRT FY2022: $399.6MLBRT FY2023: $556.3MLBRT FY2024: $316MLBRT FY2025: $147.9MOII FY2018: -$212.3MOII FY2019: -$348.4MOII FY2020: -$496.8MOII FY2021: -$49.3MOII FY2022: $25.9MOII FY2023: $97.4MOII FY2024: $147.5MOII FY2025: $353.8MFY18FY19FY20FY21FY22FY23FY24FY25
LBRT $147.9MOII $353.8M
Net margin
LBRT FY2018: 5.9%LBRT FY2019: 2.0%LBRT FY2020: -12.0%LBRT FY2021: -7.3%LBRT FY2022: 9.6%LBRT FY2023: 11.7%LBRT FY2024: 7.3%LBRT FY2025: 3.7%OII FY2018: -11.1%OII FY2019: -17.0%OII FY2020: -27.2%OII FY2021: -2.6%OII FY2022: 1.3%OII FY2023: 4.0%OII FY2024: 5.5%OII FY2025: 12.7%FY18FY19FY20FY21FY22FY23FY24FY25
LBRT 3.7%OII 12.7%
Revenue growth
LBRT FY2019: -7.6%LBRT FY2020: -51.5%LBRT FY2021: +155.8%LBRT FY2022: +67.9%LBRT FY2023: +14.4%LBRT FY2024: -9.1%LBRT FY2025: -7.2%OII FY2019: +7.3%OII FY2020: -10.8%OII FY2021: +2.3%OII FY2022: +10.5%OII FY2023: +17.4%OII FY2024: +9.8%OII FY2025: +4.6%FY19FY20FY21FY22FY23FY24FY25
LBRT -7.2%OII +4.6%
Free cash flow
LBRT FY2018: $92.4MLBRT FY2019: $65.9MLBRT FY2020: -$18.2MLBRT FY2021: -$63.3MLBRT FY2022: $78.5MLBRT FY2023: $411.3MLBRT FY2024: $178.3MLBRT FY2025: $14.1MOII FY2018: -$72.9MOII FY2019: $9.9MOII FY2020: $76MOII FY2021: $175.1MOII FY2022: $39.8MOII FY2023: $109.2MOII FY2024: $96.1MOII FY2025: $207.8MFY18FY19FY20FY21FY22FY23FY24FY25
LBRT $14.1MOII $207.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Liberty Energy and Oceaneering International

Which is bigger by revenue, Liberty Energy or Oceaneering International?

Liberty Energy is bigger by revenue: $4B in fiscal 2025, against $2.8B for Oceaneering International in fiscal 2025.

Which keeps more of its revenue as profit, Liberty Energy or Oceaneering International?

Liberty Energy had a net margin of 3.7% in fiscal 2025; Oceaneering International had 12.7% in fiscal 2025.

Which grew revenue faster, Liberty Energy or Oceaneering International?

In their latest fiscal years revenue changed by -7.2% at Liberty Energy and +4.6% at Oceaneering International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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