HIGHBuilt-inGeographic
North America
“10-K Item 1: 'we have one reportable geographical segment, North America'”
LBRT · Concentration risk · 10-K extracted
Liberty Energy (LBRT) concentration risks
Updated
The most significant concentration Liberty Energy discloses is North America, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Liberty Energy’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
few large customers
“10-K Item 1A: 'Reliance upon a few large customers may adversely affect our revenue and operating results.'”
MEDIUMOutside partySupplier
limited number of assemblers and suppliers for major equipment
“10-K Item 1A: 'We currently utilize a limited number of assemblers and suppliers for major equipment...our reliance on these vendors exposes us to risks'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile spans geographic, customer, and supplier dimensions, though none carry a disclosed percentage. The geographic exposure is high by disclosed size and structural in character: the company has one reportable geographical segment, North America, meaning the entire operating footprint is concentrated in a single continent with no international diversification to offset region-specific downturns in oilfield services activity. On the customer side, the company's reliance upon a few large customers may adversely affect revenue and operating results — a moderate-share dependency that reflects the typical structure of oilfield services contracts where a limited number of large E&P operators account for a meaningful share of completions activity. This is a dependency exposure: customer spending is discretionary in the near term, tied to commodity prices and capital budgets that can shift quickly with oil and gas market conditions. The supply side presents a parallel moderate concentration: the company currently utilizes a limited number of assemblers and suppliers for major equipment, a dependency that introduces execution risk if a key supplier cannot deliver on schedule or at contracted cost. In capital-intensive completion services, equipment availability directly governs operational capacity and revenue throughput. Together the three disclosed concentrations — one-geography operations, a few-large-customers revenue dependency, and limited major-equipment suppliers — create a profile where the company has limited diversification buffers against adverse moves in North American oilfield activity, customer capital budget cuts, or supply chain delays. Monitoring North American E&P activity and capital spending cycles is the primary watch item.
For the engine’s reasoning on LBRT’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Oil & Gas Equipment & Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AROC | Archrock, Inc. | 2 | 1 | 0 | 3 |
| AESI | Atlas Energy Solutions Inc. | 1 | 2 | 0 | 3 |
| LBRT● | Liberty Energy Inc. | 1 | 2 | 0 | 3 |
| FLOC | Flowco Holdings Inc. | 0 | 1 | 0 | 1 |
| FTI | TechnipFMC plc | 0 | 0 | 2 | 2 |
| BKR | Baker Hughes Company | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.