NYSE : EE
Excelerate Energy, Inc. — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 35.36 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.01B
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Financial statements
Excelerate Energy, Inc. (EE) reported revenue of 1.47B 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 | |
|---|---|---|---|---|---|---|
| Revenue | 1.47B | 1.23B | 851.44M | 1.16B | 2.47B | 888.55M |
| Selling, General & Admin | 100.22M | 94.49M | 94.15M | 87.48M | 66.10M | 47.09M |
| Depreciation & Amortization | 127.84M | 111.32M | 98.94M | 114.32M | 97.31M | 104.91M |
| Other Operating Expenses | 919.92M | 721.53M | 443.36M | 746.56M | 2.12B | 583.24M |
| Total Operating Expenses | 1.15B | 927.34M | 636.44M | 948.36M | 2.28B | 735.24M |
| Operating Income | 323.34M | 300.92M | 215.00M | 210.60M | 193.59M | 153.32M |
| Interest Expense | -110.72M | -94.14M | -61.02M | -67.00M | -59.54M | -80.81M |
| Net Interest Expense | -110.72M | -94.14M | -61.02M | -67.00M | -59.54M | -80.81M |
| Income (Loss) on Equity Investments | 2.39M | 2.34M | 2.25M | 883.00K | 2.70M | 3.26M |
| Currency Exchange Gain (Loss) | -400.00K | -500.00K | -3.50M | -4.10M | -7.20M | 100.00K |
| Other Non-Operating Income (Expenses) | 14.15M | 20.52M | 26.41M | 19.70M | 7.51M | 464.00K |
| EBT Excluding Unusual Items | 228.77M | 229.15M | 179.13M | 160.09M | 137.06M | 76.33M |
| Restructuring Charges | -6.90M | -13.97M | ||||
| Total Merger & Restructuring Charges | -2.89M | -34.23M | ||||
| Other Unusual Items | -21.83M | |||||
| Pretax Income | 225.87M | 194.91M | 179.13M | 160.09M | 108.32M | 62.36M |
| Income Tax Expense | 31.69M | 27.89M | 26.10M | 33.25M | 28.33M | 21.17M |
| Earnings From Continuing Ops. | 194.18M | 167.02M | 153.03M | 126.84M | 80.00M | 41.19M |
| Minority Interest in Earnings | -146.70M | -127.82M | -120.16M | -96.43M | -66.67M | -41.19M |
| Net Income | 47.48M | 39.20M | 32.88M | 30.41M | 13.32M | |
| Net Income to Common | 47.48M | 39.20M | 32.88M | 30.41M | 13.32M | |
| Shares Outstanding (Basic) | 31.97M | 29.88M | 25.40M | 26.26M | 26.25M | |
| Shares Outstanding (Diluted) | 32.72M | 30.62M | 25.84M | 108.30M | 26.26M | |
| EPS (Basic) | 1.48 | 1.31 | 1.29 | 1.16 | 0.51 | |
| EPS (Diluted) | 1.45 | 1.28 | 1.27 | 1.11 | 0.51 | |
| Free Cash Flow | 24.09M | 298.23M | 131.18M | -80.85M | 105.82M | 105.52M |
| Free Cash Flow Per Share | 0.74 | 9.74 | 5.08 | -0.75 | 4.03 | |
| Dividend Per Share | 0.33 | 0.30 | 0.17 | 0.10 | 0.07 | |
| Profit Margin | 3.23% | 3.19% | 3.86% | 2.62% | 0.54% | |
| Free Cash Flow Margin | 1.64% | 24.28% | 15.41% | -6.98% | 4.28% | 11.88% |
| EBITDA | 454.65M | 414.99M | 315.79M | 326.70M | 292.39M | 259.66M |
| EBITDA Margin | 30.90% | 33.79% | 37.09% | 28.19% | 11.82% | 29.22% |
| D&A For EBITDA | 131.31M | 114.07M | 100.80M | 116.10M | 98.81M | 106.34M |
| EBIT | 323.34M | 300.92M | 215.00M | 210.60M | 193.59M | 153.32M |
| EBIT Margin | 21.98% | 24.50% | 25.25% | 18.17% | 7.83% | 17.26% |
| Effective Tax Rate | 14.03% | 14.31% | 14.57% | 20.77% | 26.15% | 33.95% |
| Revenue as Reported | 1.47B | 1.23B | 851.44M | 1.16B | 2.47B | 888.55M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 342.45M | 538.23M | 537.52M | 555.85M | 516.66M | 72.79M |
| Accounts Receivable | 127.15M | 121.58M | 163.43M | 113.75M | 95.63M | 283.90M |
| Other Receivables | 71.52M | 14.61M | 16.33M | 14.11M | 14.19M | 10.02M |
| Inventory | 31.48M | 27.07M | 23.93M | 2.95M | 173.60M | 105.02M |
| Prepaid Expenses | 19.44M | 48.62M | 10.45M | 10.30M | 20.84M | 16.18M |
| Restricted Cash | 3.23M | 3.24M | 2.61M | 2.65M | 2.61M | 2.50M |
| Total Current Assets | 595.26M | 753.37M | 754.28M | 699.61M | 823.53M | 490.39M |
| Property, Plant & Equipment | 2.51B | 2.30B | 1.63B | 1.65B | 1.53B | 1.54B |
| Goodwill | 235.19M | 234.99M | ||||
| Other Intangible Assets | 351.40M | 359.22M | ||||
| Long-Term Investments | 20.08M | 18.31M | 20.56M | 21.82M | 25.75M | 22.05M |
| Long-Term Deferred Tax Assets | 24.47M | 25.22M | 27.56M | 42.95M | 39.87M | 939.00K |
| Long-Term Accounts Receivable | 324.08M | 337.94M | 376.81M | 383.55M | 399.56M | 412.91M |
| Other Long-Term Assets | 99.76M | 103.17M | 76.54M | 62.68M | 43.81M | 35.05M |
| Total Assets | 4.16B | 4.13B | 2.88B | 2.86B | 2.87B | 2.50B |
| Accounts Payable | 71.01M | 46.57M | 7.13M | 13.76M | 96.82M | 311.59M |
| Accrued Expenses | 118.94M | 115.34M | 66.91M | 81.98M | 63.18M | 92.56M |
| Current Portion of Long-Term Debt | 34.03M | 34.04M | 55.74M | 50.95M | 28.57M | 27.54M |
| Current Unearned Revenue | 30.43M | 57.13M | 58.19M | 27.17M | 144.81M | 9.65M |
| Current Portion of Leases | 50.79M | 49.29M | 25.03M | 23.82M | 54.42M | 67.75M |
| Other Current Liabilities | 12.15M | 7.68M | 3.12M | 6.07M | 3.70M | 11.07M |
| Total Current Liabilities | 330.77M | 310.06M | 216.10M | 203.76M | 391.51M | 520.16M |
| Long-Term Debt | 1.05B | 1.07B | 455.92M | 506.84M | 374.17M | 408.58M |
| Long-Term Leases | 259.55M | 283.35M | 171.35M | 189.81M | 258.73M | 518.68M |
| Long-Term Unearned Revenue | 28.24M | 29.20M | 27.72M | 29.10M | 32.95M | 14.45M |
| Long-Term Deferred Tax Liabilities | 66.83M | 64.65M | ||||
| Other Long-Term Liabilities | 157.55M | 140.43M | 123.62M | 121.53M | 112.77M | 34.93M |
| Total Liabilities | 1.89B | 1.90B | 994.71M | 1.05B | 1.17B | 1.50B |
| Common Stock | 117.00K | 117.00K | 108.00K | 108.00K | 108.00K | 1.14B |
| Additional Paid-In Capital | 659.00M | 634.81M | 467.43M | 465.55M | 464.72M | |
| Retained Earnings | 121.75M | 102.64M | 72.32M | 39.75M | 12.01M | |
| Treasury Stock | -93.54M | -54.98M | -52.38M | -472.00K | ||
| Comprehensive Income & Other | -510.00K | -112.00K | 502.00K | 505.00K | 515.00K | -15.94M |
| Total Common Equity | 686.81M | 682.48M | 487.99M | 505.45M | 477.35M | 1.12B |
| Minority Interest | 1.59B | 1.55B | 1.40B | 1.30B | 1.22B | -115.91M |
| Shareholders' Equity | 2.27B | 2.23B | 1.89B | 1.81B | 1.70B | 1.00B |
| Total Liabilities & Equity | 4.16B | 4.13B | 2.88B | 2.86B | 2.87B | 2.50B |
| Total Debt | 1.39B | 1.44B | 708.03M | 771.42M | 715.88M | 1.02B |
| Net Cash (Debt) | -1.05B | -903.14M | -170.51M | -215.57M | -199.23M | -949.77M |
| Net Cash Per Share | -32.09 | -29.49 | -6.60 | -1.99 | -7.59 | |
| Filing Date Shares Outstanding | 31.38M | 32.05M | 23.87M | 26.26M | 26.25M | |
| Total Common Shares Outstanding | 31.41M | 32.03M | 23.87M | 26.26M | 26.25M | |
| Working Capital | 264.49M | 443.31M | 538.17M | 495.86M | 432.03M | -29.77M |
| Book Value Per Share | 21.87 | 21.31 | 20.45 | 19.25 | 18.18 | |
| Tangible Book Value | 100.23M | 88.26M | 487.99M | 505.45M | 477.35M | 1.12B |
| Tangible Book Value Per Share | 3.19 | 2.76 | 20.45 | 19.25 | 18.18 | |
| Machinery | 3.45B | 3.08B | 2.56B | 2.52B | 2.26B | 2.13B |
| Construction In Progress | 101.06M | 198.44M | 112.43M | 93.34M | 77.98M | 21.02M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 47.48M | 39.20M | 32.88M | 30.41M | 13.32M | 41.19M |
| Depreciation & Amortization | 156.09M | 129.49M | 102.80M | 130.76M | 130.51M | 129.83M |
| Other Amortization | 5.81M | 7.34M | 3.39M | 6.38M | 2.66M | 1.39M |
| Loss (Gain) on Equity Investments | 313.00K | 993.00K | -447.00K | 3.84M | 2.25M | -3.26M |
| Restructuring Activities | 1.57M | |||||
| Stock-Based Compensation | 13.28M | 12.01M | 7.23M | 3.64M | 956.00K | |
| Change in Accounts Receivable | -18.22M | 82.95M | -21.15M | -20.99M | 197.90M | -247.17M |
| Change in Inventory | -82.67M | |||||
| Change in Accounts Payable | 95.72M | 68.21M | -25.09M | -54.08M | -254.88M | 341.34M |
| Change in Income Taxes | -7.83M | -7.83M | -3.43M | -5.89M | ||
| Change in Unearned Revenue | -4.24M | -5.75M | 31.02M | -117.64M | 135.15M | -2.33M |
| Change in Other Net Operating Assets | -46.98M | 3.79M | -6.69M | 161.34M | -92.90M | -35.74M |
| Other Operating Activities | 152.11M | 130.82M | 123.93M | 94.11M | 88.54M | -966.00K |
| Operating Cash Flow | 393.50M | 461.21M | 244.44M | 231.88M | 225.09M | 141.61M |
| Capital Expenditures | -369.41M | -162.99M | -113.26M | -312.74M | -119.27M | -36.09M |
| Sale of Property, Plant & Equipment | 4.10M | |||||
| Cash Acquisitions | 28.66M | -1.02B | ||||
| Investing Cash Flow | -340.75M | -1.18B | -113.26M | -308.63M | -119.27M | -36.09M |
| Short-Term Debt Issued | 140.00M | |||||
| Long-Term Debt Issued | 800.00M | 250.00M | 654.00M | 118.31M | ||
| Total Debt Issued | 800.00M | 250.00M | 794.00M | 118.31M | ||
| Short-Term Debt Repaid | -140.00M | |||||
| Long-Term Debt Repaid | -217.52M | -74.21M | -115.59M | -722.13M | -163.06M | |
| Total Debt Repaid | -56.29M | -217.52M | -74.21M | -115.59M | -862.13M | -163.06M |
| Net Debt Issued (Repaid) | -56.29M | 582.48M | -74.21M | 134.41M | -68.13M | -44.75M |
| Issuance of Common Stock | 201.83M | 412.15M | ||||
| Repurchase of Common Stock | -31.90M | -1.35M | -50.40M | -52.00K | ||
| Common Dividends Paid | -17.09M | -8.51M | -3.36M | -2.63M | -1.31M | |
| Other Financing Activities | -30.59M | -51.30M | -21.06M | -20.38M | -1.52M | -79.35M |
| Financing Cash Flow | -135.87M | 723.14M | -149.02M | 111.36M | 341.18M | -124.10M |
| Foreign Exchange Rate Adjustments | 218.00K | 87.00K | -119.00K | -121.00K | ||
| Net Cash Flow | -82.89M | 2.02M | -17.96M | 34.49M | 447.01M | -18.57M |
| Free Cash Flow | 24.09M | 298.23M | 131.18M | -80.85M | 105.82M | 105.52M |
| Free Cash Flow Margin | 1.64% | 24.28% | 15.41% | -6.98% | 4.28% | 11.88% |
| Free Cash Flow Per Share | 0.74 | 9.74 | 5.08 | -0.75 | 4.03 | |
| Levered Free Cash Flow | -42.02M | 208.11M | 29.78M | -98.62M | 93.02M | 142.53M |
| Unlevered Free Cash Flow | 21.36M | 259.60M | 64.52M | -63.13M | 127.56M | 191.64M |
| Cash Interest Paid | 106.07M | 79.74M | 58.12M | 60.78M | 55.44M | 80.50M |
| Cash Income Tax Paid | 14.40M | 22.37M | 24.39M | 26.16M | 36.96M | 16.81M |
| Change in Working Capital | 18.43M | 141.36M | -25.34M | -37.26M | -14.72M | -26.57M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.92B | 897.87M | 733.96M | 406.00M | 657.67M | |
| Enterprise Value | 4.97B | 3.42B | 2.23B | 1.95B | 2.12B | |
| PE Ratio | 23.84 | 22.91 | 22.32 | 13.35 | 49.36 | |
| PS Ratio | 2.66 | 0.73 | 0.86 | 0.35 | 0.27 | |
| PB Ratio | 1.62 | 0.40 | 0.39 | 0.22 | 0.39 | |
| P/FCF Ratio | 162.14 | 3.01 | 5.59 | 6.21 | ||
| P/OCF Ratio | 9.93 | 1.95 | 3.00 | 1.75 | 2.92 | |
| EV/Sales Ratio | 3.37 | 2.78 | 2.62 | 1.68 | 0.86 | |
| EV/EBITDA Ratio | 10.90 | 8.24 | 7.06 | 5.96 | 7.24 | |
| EV/EBIT Ratio | 15.33 | 11.36 | 10.37 | 9.24 | 10.94 | |
| EV/FCF Ratio | 205.71 | 11.46 | 16.99 | 20.00 | ||
| Debt / Equity Ratio | 0.61 | 0.65 | 0.38 | 0.43 | 0.42 | 1.02 |
| Debt / EBITDA Ratio | 2.83 | 3.28 | 2.22 | 2.25 | 2.16 | 3.53 |
| Debt / FCF Ratio | 57.79 | 4.83 | 5.40 | 6.76 | 9.69 | |
| Net Debt / Equity Ratio | 0.46 | 0.41 | 0.09 | 0.12 | 0.12 | 0.95 |
| Net Debt / EBITDA Ratio | 2.31 | 2.18 | 0.54 | 0.66 | 0.68 | 3.66 |
| Net Debt / FCF Ratio | 43.58 | 3.03 | 1.30 | -2.67 | 1.88 | 9.00 |
| Quick Ratio | 1.64 | 2.17 | 3.32 | 3.36 | 1.60 | 0.70 |
| Current Ratio | 1.80 | 2.43 | 3.49 | 3.43 | 2.10 | 0.94 |
| Asset Turnover | 0.36 | 0.35 | 0.30 | 0.41 | 0.92 | 0.37 |
| Return on Equity (ROE) | 8.78% | 8.11% | 8.28% | 7.24% | 5.92% | 4.64% |
| Return on Assets (ROA) | 4.95% | 5.36% | 4.68% | 4.60% | 4.51% | 4.03% |
| Return on Capital Employed (ROCE) | 8.40% | 7.90% | 8.10% | 7.90% | 7.80% | 7.70% |
| Earnings Yield | 4.20% | 4.37% | 4.48% | 7.49% | 2.03% | |
| FCF Yield | 0.62% | 33.22% | 17.87% | -19.91% | 16.09% | |
| Dividend Yield | 1.04% | 1.07% | 0.55% | 0.65% | 0.30% | |
| Payout Ratio | 24.82% | 21.72% | 10.22% | 8.63% | 9.86% | |
| Buyback Yield / Dilution | -20.27% | -18.49% | 76.14% | -312.38% | ||
| Total Shareholder Return | -19.23% | -17.42% | 76.69% | -311.73% | 0.30% |