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Liberty Energy Inc. cash flow statement

In fiscal 2025, Liberty Energy Inc.'s operations generated $610m of cash; it spent $595m on capital projects, leaving free cash flow of $14.1m. It returned $54.5m in dividends and $24.9m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations−41195351261851355301,015829610560
Depreciation and amortisation4181125165180263323422505500462
Stock-based pay—051417202333324236
Capital spending1023122591951041994526036515951,212
Free cash flow−143−1179266−18−637841117814−652
Free cash flow after stock pay—−1178752−35−8355378146−28−689
Dividends paid0071540938485460
Share buybacks00831800125203129250
Shares issued0023000——————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Liberty Energy Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Liberty Energy Inc.