NASDAQ : EXE
Expand Energy Corporation — Financial statements
Energy · Oil & Gas Exploration & Production · United States
Last price 90.55 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 20.91B
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Financial statements
Expand Energy Corporation (EXE) reported revenue of 12.95B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 12.95B | 11.64B | 4.26B | 6.05B | 14.12B | 7.30B |
| Revenue | 12.95B | 11.64B | 4.26B | 6.05B | 14.12B | 7.30B |
| Cost of Revenue | 7.01B | 6.36B | 2.76B | 3.88B | 5.99B | 3.88B |
| Gross Profit | 5.94B | 5.28B | 1.50B | 2.17B | 8.13B | 3.42B |
| Selling, General & Admin | 212.00M | 181.00M | 186.00M | 127.00M | 142.00M | 118.00M |
| Other Operating Expenses | -1.03B | -571.00M | 30.00M | -1.71B | 2.69B | 1.49B |
| Operating Expenses | 2.19B | 2.64B | 1.98B | -29.00M | 4.61B | 2.60B |
| Operating Income | 3.75B | 2.63B | -482.00M | 2.20B | 3.53B | 816.00M |
| Interest Expense | -205.00M | -235.00M | -123.00M | -104.00M | -160.00M | -84.00M |
| Other Non Operating Income (Expenses) | 40.00M | 42.00M | 86.00M | 79.00M | 36.00M | 33.00M |
| EBT Excluding Unusual Items | 3.59B | 2.44B | -519.00M | 2.18B | 3.40B | 765.00M |
| Merger & Restructuring Charges | -38.00M | -62.00M | -335.00M | -5.00M | -46.00M | -128.00M |
| Gain (Loss) on Sale of Assets | -55.00M | -65.00M | 14.00M | 946.00M | 300.00M | 17.00M |
| Asset Writedown | -37.00M | -37.00M | -1.00M | |||
| Legal Settlements | -40.00M | |||||
| Other Unusual Items | 37.00M | 4.00M | -1.00M | -5.00M | 5.57B | |
| Pretax Income | 3.46B | 2.28B | -841.00M | 3.12B | 3.65B | 6.22B |
| Income Tax Expense | 703.00M | 463.00M | -127.00M | 698.00M | -1.28B | -106.00M |
| Earnings From Continuing Operations | 2.75B | 1.82B | -714.00M | 2.42B | 4.94B | 6.33B |
| Net Income | 2.75B | 1.82B | -714.00M | 2.42B | 4.94B | 6.33B |
| Preferred Dividends & Other Adjustments | 67.00M | |||||
| Net Income to Common | 2.75B | 1.82B | -714.00M | 2.42B | 4.87B | 6.33B |
| Shares Outstanding (Basic) | 237.02M | 237.29M | 156.99M | 132.84M | 125.78M | 91.67M |
| Shares Outstanding (Diluted) | 237.77M | 240.37M | 156.99M | 142.98M | 145.96M | 104.69M |
| EPS (Basic) | 11.62 | 7.67 | -4.55 | 18.21 | 38.71 | 69.03 |
| EPS (Diluted) | 11.58 | 7.57 | -4.55 | 16.92 | 33.36 | 60.44 |
| Free Cash Flow | 2.46B | 1.64B | 8.00M | 551.00M | 2.30B | 1.05B |
| Free Cash Flow Per Share | 10.33 | 6.84 | 0.05 | 3.85 | 15.77 | 10.06 |
| Dividend Per Share | 2.30 | 3.19 | 2.44 | 3.62 | 9.59 | 1.12 |
| Gross Margin | 45.86% | 45.32% | 35.24% | 35.92% | 57.58% | 46.84% |
| Operating Margin | 28.93% | 22.64% | -11.32% | 36.40% | 24.97% | 11.18% |
| Profit Margin | 21.26% | 15.63% | -16.76% | 40.00% | 34.48% | 86.67% |
| Free Cash Flow Margin | 18.97% | 14.12% | 0.19% | 9.11% | 16.30% | 14.42% |
| EBITDA | 6.69B | 5.62B | 1.25B | 3.73B | 5.28B | 1.81B |
| EBITDA Margin | 51.65% | 48.24% | 29.28% | 61.65% | 37.38% | 24.75% |
| D&A For EBITDA | 2.94B | 2.98B | 1.73B | 1.53B | 1.75B | 991.00M |
| EBIT | 3.75B | 2.63B | -482.00M | 2.20B | 3.53B | 816.00M |
| EBIT Margin | 28.93% | 22.64% | -11.32% | 36.40% | 24.97% | 11.18% |
| Effective Tax Rate | 20.34% | 20.29% | 22.39% | |||
| Revenue as Reported | 13.91B | 12.12B | 4.24B | 8.72B | 11.74B | 5.81B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 118.00M | 616.00M | 317.00M | 1.08B | 130.00M | 905.00M |
| Cash & Short-Term Investments | 118.00M | 616.00M | 317.00M | 1.08B | 130.00M | 905.00M |
| Accounts Receivable | 1.60B | 1.58B | 1.21B | 585.00M | 1.41B | 1.08B |
| Other Receivables | 3.00M | 101.00M | 50.00M | 41.00M | 192.00M | 38.00M |
| Receivables | 1.67B | 1.68B | 1.26B | 626.00M | 1.61B | 1.11B |
| Restricted Cash | 103.00M | 80.00M | 78.00M | 74.00M | 62.00M | 9.00M |
| Other Current Assets | 998.00M | 538.00M | 344.00M | 830.00M | 900.00M | 74.00M |
| Total Current Assets | 3.10B | 2.92B | 2.00B | 2.61B | 2.70B | 2.10B |
| Property, Plant & Equipment | 24.48B | 24.45B | 24.43B | 10.20B | 11.31B | 8.84B |
| Long-Term Investments | 304.00M | 313.00M | 307.00M | 238.00M | 18.00M | |
| Long-Term Deferred Tax Assets | 168.00M | 589.00M | 933.00M | 1.35B | ||
| Long-Term Deferred Charges | 22.00M | |||||
| Other Long-Term Assets | 429.00M | 414.00M | 574.00M | 400.00M | 95.00M | 69.00M |
| Total Assets | 29.74B | 28.29B | 27.89B | 14.38B | 15.47B | 11.01B |
| Accounts Payable | 1.18B | 753.00M | 777.00M | 425.00M | 603.00M | 308.00M |
| Accrued Expenses | 511.00M | 557.00M | 520.00M | 314.00M | 367.00M | 271.00M |
| Current Portion of Long-Term Debt | 389.00M | |||||
| Current Portion of Leases | 38.00M | 51.00M | 71.00M | 84.00M | 86.00M | 29.00M |
| Current Income Taxes Payable | 205.00M | 157.00M | 142.00M | 84.00M | 84.00M | 86.00M |
| Current Unearned Revenue | 356.00M | 253.00M | 284.00M | |||
| Other Current Liabilities | 1.14B | 1.13B | 940.00M | 407.00M | 1.56B | 1.75B |
| Total Current Liabilities | 3.43B | 2.90B | 3.12B | 1.31B | 2.70B | 2.45B |
| Long-Term Debt | 4.63B | 5.01B | 5.29B | 2.03B | 3.09B | 2.28B |
| Long-Term Leases | 48.00M | 74.00M | 15.00M | 33.00M | 9.00M | |
| Long-Term Unearned Revenue | 914.00M | 975.00M | 1.23B | |||
| Long-Term Deferred Tax Liabilities | 37.00M | 10.00M | ||||
| Other Long-Term Liabilities | 1.27B | 739.00M | 604.00M | 290.00M | 514.00M | 604.00M |
| Total Liabilities | 10.24B | 9.71B | 10.33B | 3.65B | 6.34B | 5.34B |
| Common Stock | 2.00M | 2.00M | 2.00M | 1.00M | 1.00M | 1.00M |
| Additional Paid-In Capital | 13.79B | 13.75B | 13.69B | 5.75B | 5.72B | 4.84B |
| Retained Earnings | 5.71B | 4.83B | 3.88B | 4.97B | 3.40B | 825.00M |
| Total Common Equity | 19.50B | 18.58B | 17.57B | 10.73B | 9.12B | 5.67B |
| Shareholders' Equity | 19.50B | 18.58B | 17.57B | 10.73B | 9.12B | 5.67B |
| Total Liabilities & Equity | 29.74B | 28.29B | 27.89B | 14.38B | 15.47B | 11.01B |
| Total Debt | 4.67B | 5.11B | 5.83B | 2.13B | 3.21B | 2.32B |
| Net Cash (Debt) | -4.55B | -4.49B | -5.51B | -1.05B | -3.08B | -1.41B |
| Net Cash Per Share | -19.14 | -18.69 | -35.09 | -7.33 | -21.12 | -13.48 |
| Filing Date Shares Outstanding | 230.96M | 240.40M | 232.70M | 130.79M | 134.72M | 118.56M |
| Total Common Shares Outstanding | 230.94M | 239.25M | 231.77M | 130.79M | 134.72M | 117.92M |
| Working Capital | -330.00M | 15.00M | -1.13B | 1.29B | -6.00M | -344.00M |
| Book Value Per Share | 84.44 | 77.65 | 75.79 | 82.03 | 67.73 | 48.09 |
| Tangible Book Value | 18.07B | 18.58B | 17.57B | 10.73B | 9.12B | 5.67B |
| Tangible Book Value Per Share | 78.24 | 77.65 | 75.79 | 82.03 | 67.73 | 48.09 |
| Land | 25.00M | 29.00M | 28.00M | 32.00M | 37.00M | |
| Buildings | 135.00M | 329.00M | 316.00M | 325.00M | 330.00M | |
| Machinery | 163.00M | 150.00M | 113.00M | 92.00M | 87.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.75B | 1.82B | -714.00M | 2.42B | 4.94B | 6.33B |
| Depreciation & Amortization | 2.94B | 2.98B | 1.73B | 1.53B | 1.75B | 991.00M |
| Loss (Gain) From Sale of Assets | 55.00M | 65.00M | -14.00M | -946.00M | -300.00M | -17.00M |
| Asset Writedown & Restructuring Costs | -6.68B | |||||
| Stock-Based Compensation | 45.00M | 46.00M | 38.00M | 33.00M | 22.00M | 12.00M |
| Other Operating Activities | -175.00M | -50.00M | 841.00M | -928.00M | -2.16B | 339.00M |
| Change in Accounts Receivable | 175.00M | -370.00M | -168.00M | 857.00M | ||
| Change in Accounts Payable | -166.00M | -68.00M | -62.00M | -152.00M | ||
| Change in Other Net Operating Assets | 2.00M | 153.00M | -85.00M | -430.00M | -123.00M | 814.00M |
| Operating Cash Flow | 5.63B | 4.58B | 1.56B | 2.38B | 4.12B | 1.79B |
| Capital Expenditures | -3.17B | -2.93B | -1.56B | -1.83B | -1.82B | -735.00M |
| Sale of Property, Plant & Equipment | 127.00M | 70.00M | 21.00M | 2.53B | 407.00M | 13.00M |
| Cash Acquisitions | -1.40B | -459.00M | -1.97B | -194.00M | ||
| Divestitures | 161.00M | 116.00M | 166.00M | |||
| Investment in Securities | 8.00M | -14.00M | -75.00M | -231.00M | -18.00M | |
| Investing Cash Flow | -4.27B | -2.76B | -1.90B | 473.00M | -3.40B | -916.00M |
| Short-Term Debt Issued | 165.00M | |||||
| Long-Term Debt Issued | 825.00M | 767.00M | 1.12B | 11.18B | 1.03B | |
| Total Debt Issued | 2.18B | 990.00M | 767.00M | 1.12B | 11.18B | 1.03B |
| Short-Term Debt Repaid | -165.00M | |||||
| Long-Term Debt Repaid | -1.49B | -787.00M | -2.17B | -10.35B | -1.74B | |
| Total Debt Repaid | -2.66B | -1.65B | -787.00M | -2.17B | -10.35B | -1.74B |
| Net Debt Issued (Repaid) | -479.00M | -663.00M | -20.00M | -1.05B | 829.00M | -708.00M |
| Issuance of Common Stock | 17.00M | 24.00M | 3.00M | 27.00M | 602.00M | |
| Repurchase of Common Stock | -900.00M | -100.00M | -355.00M | -1.07B | ||
| Common Dividends Paid | -548.00M | -765.00M | -388.00M | -487.00M | -256.00M | -119.00M |
| Dividends Paid | -548.00M | -765.00M | -388.00M | -487.00M | -256.00M | -119.00M |
| Other Financing Activities | 82.00M | -11.00M | -14.00M | -17.00M | -12.00M | |
| Financing Cash Flow | -1.83B | -1.51B | -419.00M | -1.89B | -1.45B | -237.00M |
| Net Cash Flow | -470.00M | 301.00M | -758.00M | 961.00M | -722.00M | 635.00M |
| Free Cash Flow | 2.46B | 1.64B | 8.00M | 551.00M | 2.30B | 1.05B |
| Free Cash Flow Margin | 18.97% | 14.12% | 0.19% | 9.11% | 16.30% | 14.42% |
| Free Cash Flow Per Share | 10.33 | 6.84 | 0.05 | 3.85 | 15.77 | 10.06 |
| Levered Free Cash Flow | 1.37B | 1.17B | 1.15B | 691.62M | 889.75M | 1.63B |
| Unlevered Free Cash Flow | 1.49B | 1.31B | 1.23B | 756.62M | 989.75M | 1.69B |
| Cash Interest Paid | 224.00M | 230.00M | 93.00M | 117.00M | 146.00M | 47.00M |
| Cash Income Tax Paid | 66.00M | -3.00M | 132.00M | 193.00M | -9.00M | |
| Change in Working Capital | 11.00M | -285.00M | -315.00M | 275.00M | -123.00M | 814.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 20.65B | 26.28B | 23.01B | 10.08B | 12.64B | 7.56B |
| Enterprise Value | 25.21B | 30.74B | 24.01B | 11.48B | 15.32B | 7.98B |
| Last Close Price | 90.55 | 108.45 | 94.84 | 71.21 | 83.56 | 51.47 |
| PE Ratio | 7.72 | 14.45 | 4.17 | 2.60 | 1.19 | |
| Forward PE | 11.89 | 13.42 | 30.61 | 18.31 | 5.07 | 6.05 |
| PS Ratio | 1.61 | 2.26 | 5.40 | 1.67 | 0.90 | 1.03 |
| PB Ratio | 1.07 | 1.42 | 1.31 | 0.94 | 1.39 | 1.33 |
| P/TBV Ratio | 1.15 | 1.42 | 1.31 | 0.94 | 1.39 | 1.33 |
| P/FCF Ratio | 8.47 | 15.99 | 2,875.71 | 18.30 | 5.49 | 7.17 |
| P/OCF Ratio | 3.70 | 5.75 | 14.70 | 4.24 | 3.06 | 4.23 |
| PEG Ratio | 0.93 | 2.24 | 6.98 | 5.26 | 0.27 | 1.21 |
| EV/Sales Ratio | 1.96 | 2.64 | 5.64 | 1.90 | 1.08 | 1.09 |
| EV/EBITDA Ratio | 3.79 | 5.47 | 19.25 | 3.08 | 2.90 | 4.41 |
| EV/EBIT Ratio | 6.77 | 11.67 | 5.21 | 4.34 | 9.78 | |
| EV/FCF Ratio | 10.32 | 18.70 | 3,001.08 | 20.83 | 6.66 | 7.58 |
| Debt / Equity Ratio | 0.24 | 0.28 | 0.33 | 0.20 | 0.35 | 0.41 |
| Debt / EBITDA Ratio | 0.69 | 0.89 | 4.17 | 0.55 | 0.59 | 1.25 |
| Debt / FCF Ratio | 1.90 | 3.11 | 728.12 | 3.86 | 1.40 | 2.20 |
| Net Debt / Equity Ratio | 0.23 | 0.24 | 0.31 | 0.10 | 0.34 | 0.25 |
| Net Debt / EBITDA Ratio | 0.68 | 0.80 | 4.42 | 0.28 | 0.58 | 0.78 |
| Net Debt / FCF Ratio | 1.85 | 2.73 | 688.50 | 1.90 | 1.34 | 1.34 |
| Asset Turnover | 0.45 | 0.41 | 0.20 | 0.41 | 1.07 | 0.83 |
| Quick Ratio | 0.50 | 0.79 | 0.50 | 1.30 | 0.64 | 0.83 |
| Current Ratio | 0.90 | 1.00 | 0.64 | 1.99 | 1.00 | 0.86 |
| Return on Equity (ROE) | 14.62% | 10.07% | -5.05% | 24.37% | 66.72% | 3,835.15% |
| Return on Assets (ROA) | 8.17% | 5.86% | -1.43% | 9.22% | 16.65% | 5.80% |
| Return on Invested Capital (ROIC) | 12.83% | 9.10% | -2.77% | 14.24% | 36.56% | 15.45% |
| Return on Capital Employed (ROCE) | 14.20% | 10.40% | -1.90% | 16.90% | 27.60% | 9.50% |
| Earnings Yield | 12.95% | 6.92% | -3.10% | 23.99% | 39.04% | 83.75% |
| FCF Yield | 11.81% | 6.25% | 0.03% | 5.46% | 18.21% | 13.94% |
| Dividend Yield | 2.57% | 2.90% | 2.46% | 4.70% | 10.22% | 1.76% |
| Payout Ratio | 19.86% | 42.06% | 20.13% | 5.19% | 1.88% | |
| Buyback Yield / Dilution | 0.22% | -53.11% | -9.80% | 2.04% | -39.41% | -971.27% |
| Total Shareholder Return | 2.77% | -50.21% | -7.34% | 6.74% | -29.20% | -969.51% |