NYSE : EQT
EQT Corporation — Financial statements
Energy · Oil & Gas Exploration & Production · United States
Last price 55.38 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 34.64B
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Financial statements
EQT Corporation (EQT) reported revenue of 9.15B 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 | 9.15B | 8.18B | 5.04B | 5.07B | 12.14B | 6.84B |
| Cost of Revenue | 1.79B | 1.75B | 2.11B | 2.40B | 2.42B | 2.17B |
| Gross Profit | 7.36B | 6.43B | 2.93B | 2.67B | 9.73B | 4.67B |
| Selling, General & Admin | 665.58M | 605.20M | 447.12M | 251.87M | 255.24M | 196.31M |
| Other Operating Expenses | -98.81M | -270.11M | -132.34M | -1.82B | 4.66B | 3.78B |
| Operating Expenses | 3.22B | 2.94B | 2.59B | 166.84M | 6.79B | 5.68B |
| Operating Income | 4.13B | 3.49B | 344.31M | 2.51B | 2.93B | -1.01B |
| Interest Expense | -349.91M | -438.69M | -454.82M | -219.66M | -249.66M | -289.75M |
| Interest & Investment Income | 212.10M | 184.44M | 76.04M | 7.60M | 90.95M | |
| Other Non Operating Income (Expenses) | 5.42M | 4.83M | 6.98M | 1.23M | 11.28M | |
| EBT Excluding Unusual Items | 4.00B | 3.24B | -27.49M | 2.30B | 2.69B | -1.21B |
| Merger & Restructuring Charges | -10.84M | -35.84M | -309.42M | -56.26M | -14.19M | -57.43M |
| Gain (Loss) on Sale of Investments | -4.93M | |||||
| Gain (Loss) on Sale of Assets | 28.15M | 31.21M | 764.04M | -17.45M | 8.45M | 21.12M |
| Asset Writedown | -57.82M | -51.15M | -97.37M | -109.42M | -176.61M | -311.83M |
| Legal Settlements | -185.25M | -185.25M | -16.27M | -9.34M | -30.39M | -5.17M |
| Other Unusual Items | -33.06M | -22.65M | -68.30M | -80.00K | -140.03M | -9.76M |
| Pretax Income | 3.74B | 2.98B | 264.19M | 2.10B | 2.33B | -1.57B |
| Income Tax Expense | 813.30M | 651.88M | 22.08M | 368.95M | 553.72M | -428.04M |
| Earnings From Continuing Operations | 2.93B | 2.33B | 242.12M | 1.73B | 1.78B | -1.14B |
| Net Income to Company | 2.93B | 2.33B | 242.12M | 1.73B | 1.78B | -1.14B |
| Minority Interest in Earnings | -272.38M | -286.41M | -11.54M | 688.00K | -9.98M | -1.25M |
| Net Income | 2.65B | 2.04B | 230.58M | 1.74B | 1.77B | -1.14B |
| Net Income to Common | 2.65B | 2.04B | 230.58M | 1.74B | 1.77B | -1.14B |
| Shares Outstanding (Basic) | 625.41M | 611.57M | 509.60M | 380.90M | 370.05M | 323.20M |
| Shares Outstanding (Diluted) | 628.89M | 615.72M | 514.59M | 413.22M | 406.50M | 323.20M |
| EPS (Basic) | 4.24 | 3.33 | 0.45 | 4.56 | 4.79 | -3.54 |
| EPS (Diluted) | 4.21 | 3.31 | 0.45 | 4.22 | 4.38 | -3.54 |
| Free Cash Flow | 3.80B | 2.84B | 573.26M | 1.16B | 2.07B | 607.32M |
| Free Cash Flow Per Share | 6.05 | 4.61 | 1.11 | 2.81 | 5.08 | 1.88 |
| Dividend Per Share | 0.66 | 0.64 | 0.63 | 0.61 | 0.55 | 0.12 |
| Gross Margin | 80.40% | 78.63% | 58.10% | 52.74% | 80.11% | 68.31% |
| Operating Margin | 45.15% | 42.67% | 6.83% | 49.45% | 24.14% | -14.73% |
| Profit Margin | 29.01% | 24.93% | 4.57% | 34.23% | 14.59% | -16.71% |
| Free Cash Flow Margin | 41.56% | 34.69% | 11.37% | 22.88% | 17.01% | 8.88% |
| EBITDA | 6.78B | 6.09B | 2.51B | 4.24B | 4.60B | 701.22M |
| EBITDA Margin | 74.14% | 74.46% | 49.72% | 83.61% | 37.86% | 10.25% |
| D&A For EBITDA | 2.65B | 2.60B | 2.16B | 1.73B | 1.67B | 1.71B |
| EBIT | 4.13B | 3.49B | 344.31M | 2.51B | 2.93B | -1.01B |
| EBIT Margin | 45.15% | 42.67% | 6.83% | 49.45% | 24.14% | -14.73% |
| Effective Tax Rate | 21.75% | 21.89% | 8.36% | 17.54% | 23.72% | |
| Revenue as Reported | 9.35B | 8.64B | 5.27B | 6.91B | 7.50B | 3.06B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 78.72M | 110.80M | 202.09M | 80.98M | 1.46B | 113.96M |
| Cash & Short-Term Investments | 78.72M | 110.80M | 202.09M | 80.98M | 1.46B | 113.96M |
| Accounts Receivable | 725.94M | 1.46B | 1.13B | 823.70M | 1.61B | 1.44B |
| Other Receivables | 27.76M | 97.38M | 91.41M | |||
| Receivables | 725.94M | 1.49B | 1.23B | 915.11M | 1.61B | 1.44B |
| Prepaid Expenses | 120.64M | 59.44M | 52.04M | 25.24M | 34.71M | 43.66M |
| Other Current Assets | 185.21M | 239.20M | 230.56M | 991.65M | 912.99M | 691.11M |
| Total Current Assets | 1.11B | 1.90B | 1.71B | 2.01B | 4.01B | 2.29B |
| Property, Plant & Equipment | 33.67B | 33.67B | 31.84B | 23.00B | 18.20B | 18.45B |
| Long-Term Investments | 3.96B | 3.63B | 3.62B | 92.67M | ||
| Goodwill | 2.06B | 2.06B | 2.08B | |||
| Other Intangible Assets | 189.41M | 200.49M | 215.26M | 22.59M | ||
| Long-Term Accounts Receivable | 410.00M | |||||
| Other Long-Term Assets | 451.61M | 336.63M | 360.32M | 157.86M | 458.95M | 465.60M |
| Total Assets | 41.44B | 41.79B | 39.83B | 25.29B | 22.67B | 21.61B |
| Accounts Payable | 1.14B | 1.37B | 1.18B | 1.27B | 1.57B | 1.34B |
| Accrued Expenses | 82.66M | 377.73M | 406.81M | 193.02M | 266.45M | 287.00M |
| Current Portion of Long-Term Debt | 507.12M | 320.80M | 292.43M | 422.63M | 1.06B | |
| Current Portion of Leases | 58.12M | 41.88M | 46.38M | 35.45M | 27.97M | |
| Current Unearned Revenue | 6.24M | 24.19M | 2.89M | |||
| Other Current Liabilities | 348.38M | 168.20M | 490.22M | 229.60M | 1.43B | 2.47B |
| Total Current Liabilities | 1.57B | 2.48B | 2.46B | 2.04B | 3.73B | 5.19B |
| Long-Term Debt | 5.55B | 7.29B | 9.00B | 5.50B | 5.26B | 4.53B |
| Long-Term Leases | 57.34M | 58.65M | 12.20M | 12.55M | 24.73M | |
| Long-Term Deferred Tax Liabilities | 4.05B | 3.47B | 2.85B | 1.90B | 1.44B | 907.31M |
| Other Long-Term Liabilities | 1.25B | 1.13B | 1.18B | 1.05B | 1.01B | 988.01M |
| Total Liabilities | 12.42B | 14.43B | 15.55B | 10.50B | 11.46B | 11.64B |
| Common Stock | 19.56B | 19.52B | 18.01B | 12.09B | 9.89B | 10.07B |
| Retained Earnings | 5.91B | 4.24B | 2.59B | 2.68B | 1.28B | -94.40M |
| Treasury Stock | -18.05M | |||||
| Comprehensive Income & Other | -1.79M | -2.17M | -2.32M | -2.68M | -2.99M | -4.61M |
| Total Common Equity | 25.47B | 23.75B | 20.60B | 14.77B | 11.17B | 9.95B |
| Minority Interest | 3.55B | 3.61B | 3.68B | 7.62M | 40.85M | 16.24M |
| Shareholders' Equity | 29.02B | 27.36B | 24.28B | 14.78B | 11.21B | 9.97B |
| Total Liabilities & Equity | 41.44B | 41.79B | 39.83B | 25.29B | 22.67B | 21.61B |
| Total Debt | 5.55B | 7.92B | 9.42B | 5.85B | 5.73B | 5.64B |
| Net Cash (Debt) | -5.47B | -7.80B | -9.22B | -5.77B | -4.27B | -5.53B |
| Net Cash Per Share | -8.70 | -12.68 | -17.92 | -13.97 | -10.50 | -17.11 |
| Filing Date Shares Outstanding | 625.55M | 624.27M | 597.44M | 440.43M | 360.36M | 376.02M |
| Total Common Shares Outstanding | 625.55M | 624.08M | 596.87M | 419.90M | 365.36M | 376.40M |
| Working Capital | -459.39M | -589.69M | -746.87M | -23.86M | 282.22M | -2.90B |
| Book Value Per Share | 40.71 | 38.06 | 34.51 | 35.18 | 30.58 | 26.45 |
| Tangible Book Value | 23.21B | 21.49B | 18.30B | 14.75B | 11.17B | 9.95B |
| Tangible Book Value Per Share | 37.11 | 34.43 | 30.66 | 35.13 | 30.58 | 26.45 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.65B | 2.04B | 230.58M | 1.74B | 1.77B | -1.14B |
| Depreciation & Amortization | 2.65B | 2.60B | 2.16B | 1.73B | 1.67B | 1.71B |
| Loss (Gain) From Sale of Assets | -28.15M | -31.21M | -764.04M | 17.45M | -8.45M | -21.12M |
| Asset Writedown & Restructuring Costs | 57.82M | 51.15M | 97.37M | 109.42M | 176.61M | 311.83M |
| Loss (Gain) From Sale of Investments | 4.93M | -71.84M | ||||
| Loss (Gain) on Equity Investments | 241.76M | 257.23M | 66.20M | 18.69M | 50.22M | 14.91M |
| Stock-Based Compensation | 84.62M | 60.78M | 158.34M | 49.83M | 45.20M | 28.17M |
| Provision & Write-off of Bad Debts | 214.19M | |||||
| Other Operating Activities | 713.50M | 378.44M | 1.16B | -867.55M | -553.30M | 1.20B |
| Change in Accounts Receivable | 83.04M | -353.47M | -220.45M | 867.68M | -168.98M | -699.99M |
| Change in Accounts Payable | -27.38M | 207.07M | 16.51M | -406.11M | 181.46M | 456.99M |
| Change in Income Taxes | -8.30M | 73.03M | -7.91M | -5.12M | ||
| Change in Other Net Operating Assets | -111.55M | -156.71M | -69.96M | -72.81M | 86.75M | -123.70M |
| Operating Cash Flow | 6.31B | 5.13B | 2.83B | 3.18B | 3.47B | 1.66B |
| Capital Expenditures | -2.51B | -2.29B | -2.25B | -2.02B | -1.40B | -1.06B |
| Sale of Property, Plant & Equipment | 10.68M | 10.23M | 1.70B | 4.20M | 8.57M | 2.45M |
| Cash Acquisitions | -78.28M | -483.52M | -874.26M | -2.27B | -205.35M | -1.03B |
| Investment in Securities | -372.19M | -82.95M | -148.05M | -12.09M | 187.85M | 24.37M |
| Other Investing Activities | 16.52M | -245.00K | -80.00K | -14.85M | -12.39M | -14.20M |
| Investing Cash Flow | -2.93B | -2.84B | -1.58B | -4.31B | -1.42B | -2.07B |
| Long-Term Debt Issued | 3.53B | 7.64B | 2.26B | 11.24B | 9.09B | |
| Long-Term Debt Repaid | -5.04B | -11.77B | -2.02B | -11.16B | -8.54B | |
| Net Debt Issued (Repaid) | -2.68B | -1.51B | -4.13B | 234.16M | 82.96M | 545.66M |
| Repurchase of Common Stock | -47.74M | -54.17M | -102.87M | -242.81M | -434.26M | -12.92M |
| Common Dividends Paid | -412.46M | -389.63M | -326.58M | -228.34M | -203.63M | |
| Other Financing Activities | -397.59M | -416.11M | 3.43B | -5.88M | -144.20M | -26.70M |
| Financing Cash Flow | -3.54B | -2.37B | -1.13B | -242.86M | -699.13M | 506.05M |
| Net Cash Flow | -157.02M | -91.30M | 121.12M | -1.38B | 1.34B | 95.75M |
| Free Cash Flow | 3.80B | 2.84B | 573.26M | 1.16B | 2.07B | 607.32M |
| Free Cash Flow Margin | 41.56% | 34.69% | 11.37% | 22.88% | 17.01% | 8.88% |
| Free Cash Flow Per Share | 6.05 | 4.61 | 1.11 | 2.81 | 5.08 | 1.88 |
| Levered Free Cash Flow | 2.48B | 1.83B | 818.17M | 241.51M | 802.45M | 1.43B |
| Unlevered Free Cash Flow | 2.69B | 2.10B | 1.10B | 378.79M | 958.49M | 1.61B |
| Cash Interest Paid | 385.14M | 455.09M | 401.77M | 213.14M | 236.80M | 280.51M |
| Cash Income Tax Paid | 9.91M | -79.02M | 7.96M | 13.35M | 20.77M | 19.16M |
| Change in Working Capital | -64.19M | -230.08M | -281.81M | 383.63M | 99.23M | -366.71M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 34.41B | 33.45B | 27.51B | 15.90B | 12.42B | 8.24B |
| Enterprise Value | 39.88B | 45.07B | 41.37B | 21.76B | 17.14B | 14.42B |
| Last Close Price | 55.38 | 53.13 | 45.17 | 37.20 | 32.02 | 20.31 |
| PE Ratio | 13.05 | 16.40 | 119.32 | 9.16 | 7.01 | |
| Forward PE | 17.20 | 13.64 | 18.22 | 12.57 | 4.15 | 9.24 |
| PS Ratio | 3.75 | 4.09 | 5.46 | 3.14 | 1.02 | 1.21 |
| PB Ratio | 1.36 | 1.22 | 1.13 | 1.08 | 1.11 | 0.83 |
| P/TBV Ratio | 1.48 | 1.56 | 1.50 | 1.08 | 1.11 | 0.83 |
| P/FCF Ratio | 9.02 | 11.79 | 47.99 | 13.71 | 6.01 | 13.57 |
| P/OCF Ratio | 5.44 | 6.53 | 9.73 | 5.00 | 3.58 | 4.96 |
| PEG Ratio | 4.81 | 0.58 | 4.27 | 0.41 | 0.15 | 0.68 |
| EV/Sales Ratio | 4.35 | 5.51 | 8.21 | 4.29 | 1.41 | 2.11 |
| EV/EBITDA Ratio | 5.86 | 7.40 | 16.50 | 5.13 | 3.73 | 20.57 |
| EV/EBIT Ratio | 9.63 | 12.91 | 120.16 | 8.68 | 5.85 | |
| EV/FCF Ratio | 10.46 | 15.88 | 72.17 | 18.76 | 8.30 | 23.75 |
| Debt / Equity Ratio | 0.19 | 0.29 | 0.39 | 0.40 | 0.51 | 0.57 |
| Debt / EBITDA Ratio | 0.81 | 1.29 | 3.71 | 1.37 | 1.24 | 7.92 |
| Debt / FCF Ratio | 1.46 | 2.79 | 16.44 | 5.05 | 2.77 | 9.29 |
| Net Debt / Equity Ratio | 0.19 | 0.28 | 0.38 | 0.39 | 0.38 | 0.56 |
| Net Debt / EBITDA Ratio | 0.81 | 1.28 | 3.68 | 1.36 | 0.93 | 7.89 |
| Net Debt / FCF Ratio | 1.44 | 2.75 | 16.09 | 4.98 | 2.07 | 9.11 |
| Asset Turnover | 0.22 | 0.20 | 0.15 | 0.21 | 0.55 | 0.34 |
| Quick Ratio | 0.51 | 0.64 | 0.58 | 0.49 | 0.82 | 0.30 |
| Current Ratio | 0.71 | 0.76 | 0.70 | 0.99 | 1.08 | 0.44 |
| Return on Equity (ROE) | 10.49% | 9.01% | 1.24% | 13.35% | 16.81% | -11.87% |
| Return on Assets (ROA) | 6.25% | 5.35% | 0.66% | 6.53% | 8.27% | -3.17% |
| Return on Invested Capital (ROIC) | 9.38% | 7.94% | 1.17% | 11.47% | 14.43% | -6.78% |
| Return on Capital Employed (ROCE) | 10.40% | 8.90% | 0.90% | 10.80% | 15.50% | -6.10% |
| Earnings Yield | 7.66% | 6.10% | 0.84% | 10.91% | 14.26% | -13.86% |
| FCF Yield | 11.09% | 8.48% | 2.08% | 7.29% | 16.63% | 7.37% |
| Dividend Yield | 1.24% | 1.19% | 1.37% | 1.61% | 1.62% | 0.57% |
| Payout Ratio | 16.14% | 19.11% | 141.64% | 13.16% | 11.50% | |
| Buyback Yield / Dilution | -2.61% | -19.65% | -24.53% | -1.65% | -25.77% | -24.01% |
| Total Shareholder Return | -1.37% | -18.46% | -23.16% | -0.04% | -24.16% | -23.44% |