NYSE : VG
Venture Global, Inc. — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 14.77 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 36.93B
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Financial statements
Venture Global, Inc. (VG) reported revenue of 16.95B 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 | |
|---|---|---|---|---|---|---|
| Revenue | 16.95B | 13.77B | 4.97B | 7.90B | 6.45B | |
| Cost of Revenue | 9.00B | 6.89B | 1.94B | 2.08B | 2.20B | 49.00M |
| Gross Profit | 7.95B | 6.87B | 3.03B | 5.82B | 4.25B | -49.00M |
| Selling, General & Admin | 434.00M | 433.00M | 312.00M | 224.00M | 226.00M | 101.00M |
| Research & Development | 174.00M | 344.00M | 635.00M | 490.00M | 311.00M | 181.00M |
| Operating Expenses | 1.58B | 1.72B | 1.27B | 991.00M | 695.00M | 288.00M |
| Operating Income | 6.38B | 5.16B | 1.76B | 4.83B | 3.56B | -337.00M |
| Interest Expense | -1.58B | -1.67B | 190.00M | -467.00M | -592.00M | -14.00M |
| Interest & Investment Income | 111.00M | 151.00M | 244.00M | 172.00M | 18.00M | |
| Currency Exchange Gain (Loss) | -4.00M | -3.00M | ||||
| Other Non Operating Income (Expenses) | -313.00M | -267.00M | -14.00M | -123.00M | 563.00M | -85.00M |
| EBT Excluding Unusual Items | 4.59B | 3.36B | 2.18B | 4.41B | 3.54B | -436.00M |
| Pretax Income | 4.59B | 3.36B | 2.18B | 4.43B | 3.54B | -436.00M |
| Income Tax Expense | 810.00M | 630.00M | 437.00M | 816.00M | 447.00M | |
| Earnings From Continuing Operations | 3.78B | 2.73B | 1.75B | 3.62B | 3.10B | -436.00M |
| Minority Interest in Earnings | -45.00M | -36.00M | -59.00M | -805.00M | -1.12B | |
| Net Income | 3.74B | 2.70B | 1.69B | 2.81B | 1.98B | -436.00M |
| Preferred Dividends & Other Adjustments | 407.00M | 437.00M | 212.00M | 130.00M | 118.00M | -107.00M |
| Net Income to Common | 3.33B | 2.26B | 1.48B | 2.68B | 1.86B | -329.00M |
| Shares Outstanding (Basic) | 2.46B | 2.43B | 2.35B | 2.07B | 1.97B | |
| Shares Outstanding (Diluted) | 2.63B | 2.63B | 2.58B | 2.14B | 1.97B | |
| EPS (Basic) | 1.35 | 0.93 | 0.63 | 1.30 | 0.94 | |
| EPS (Diluted) | 1.27 | 0.86 | 0.57 | 1.25 | 0.94 | |
| Free Cash Flow | -6.99B | -6.80B | -11.57B | -3.54B | -916.00M | -2.58B |
| Free Cash Flow Per Share | -2.65 | -2.58 | -4.47 | -1.65 | -0.47 | |
| Dividend Per Share | 0.07 | 0.07 | ||||
| Gross Margin | 46.92% | 49.92% | 60.98% | 73.72% | 65.91% | |
| Operating Margin | 37.62% | 37.45% | 35.46% | 61.18% | 55.13% | |
| Profit Margin | 19.65% | 16.41% | 29.67% | 33.95% | 28.82% | |
| Free Cash Flow Margin | -41.24% | -49.38% | -232.66% | -44.84% | -14.21% | |
| EBITDA | 7.35B | 6.10B | 2.08B | 5.11B | 3.71B | -331.00M |
| EBITDA Margin | 43.34% | 44.28% | 41.94% | 64.68% | 57.58% | |
| D&A For EBITDA | 969.00M | 941.00M | 322.00M | 277.00M | 158.00M | 6.00M |
| EBIT | 6.38B | 5.16B | 1.76B | 4.83B | 3.56B | -337.00M |
| EBIT Margin | 37.62% | 37.45% | 35.46% | 61.18% | 55.13% | |
| Effective Tax Rate | 17.64% | 18.73% | 20.02% | 18.41% | 12.61% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.12B | 2.35B | 3.61B | 4.82B | 618.00M | |
| Trading Asset Securities | 31.00M | 36.00M | 150.00M | 164.00M | ||
| Cash & Short-Term Investments | 3.15B | 2.39B | 3.76B | 4.99B | 618.00M | |
| Receivables | 844.00M | 918.00M | 364.00M | 265.00M | 190.00M | |
| Inventory | 290.00M | 253.00M | 171.00M | 44.00M | 26.00M | |
| Prepaid Expenses | 110.00M | 254.00M | 93.00M | 143.00M | 41.00M | |
| Restricted Cash | 68.00M | 195.00M | 169.00M | 520.00M | 391.00M | |
| Other Current Assets | 66.00M | 29.00M | 4.00M | 146.00M | ||
| Total Current Assets | 4.53B | 4.04B | 4.56B | 5.96B | 1.41B | |
| Property, Plant & Equipment | 53.92B | 47.33B | 35.28B | 19.82B | 10.93B | |
| Long-Term Investments | 263.00M | 203.00M | 1.46B | 1.44B | ||
| Long-Term Deferred Charges | 877.00M | 543.00M | 384.00M | 464.00M | 304.00M | |
| Other Long-Term Assets | 1.92B | 1.33B | 1.81B | 782.00M | 2.45B | |
| Total Assets | 61.52B | 53.45B | 43.49B | 28.46B | 15.10B | |
| Accounts Payable | 828.00M | 737.00M | 1.54B | 436.00M | 252.00M | |
| Accrued Expenses | 783.00M | 766.00M | 552.00M | 364.00M | 194.00M | |
| Current Portion of Long-Term Debt | 287.00M | 812.00M | 190.00M | 178.00M | 150.00M | |
| Current Portion of Leases | 58.00M | 71.00M | 91.00M | 26.00M | 21.00M | |
| Other Current Liabilities | 1.86B | 1.96B | 1.17B | 1.31B | 1.13B | |
| Total Current Liabilities | 3.82B | 4.34B | 3.54B | 2.31B | 1.75B | |
| Long-Term Debt | 41.55B | 33.39B | 29.09B | 20.61B | 10.46B | |
| Long-Term Leases | 936.00M | 945.00M | 784.00M | 458.00M | 415.00M | |
| Long-Term Deferred Tax Liabilities | 2.71B | 2.32B | 1.64B | 1.15B | 474.00M | |
| Other Long-Term Liabilities | 410.00M | 448.00M | 546.00M | 464.00M | 240.00M | |
| Total Liabilities | 49.44B | 41.45B | 35.59B | 24.99B | 13.33B | |
| Common Stock | 25.00M | 24.00M | 23.00M | 23.00M | ||
| Additional Paid-In Capital | 2.31B | 2.24B | 512.00M | 519.00M | ||
| Retained Earnings | 6.47B | 4.72B | 2.61B | 1.23B | -2.00M | |
| Comprehensive Income & Other | -232.00M | -239.00M | -249.00M | -260.00M | -184.00M | |
| Total Common Equity | 8.57B | 6.74B | 2.90B | 1.51B | -186.00M | |
| Minority Interest | 3.51B | 5.25B | 5.00B | 1.96B | 1.95B | |
| Shareholders' Equity | 12.08B | 12.00B | 7.90B | 3.47B | 1.76B | |
| Total Liabilities & Equity | 61.52B | 53.45B | 43.49B | 28.46B | 15.10B | |
| Total Debt | 42.84B | 35.22B | 30.15B | 21.27B | 11.04B | |
| Net Cash (Debt) | -39.68B | -32.83B | -26.39B | -16.28B | -10.43B | |
| Net Cash Per Share | -15.06 | -12.46 | -10.21 | -7.60 | -5.30 | |
| Filing Date Shares Outstanding | 2.50B | 2.46B | 2.42B | 519.77K | 1.97B | |
| Total Common Shares Outstanding | 2.50B | 2.46B | 2.35B | 519.77K | 1.97B | |
| Working Capital | 708.00M | -304.00M | 1.02B | 3.64B | -334.00M | |
| Book Value Per Share | 3.43 | 2.74 | 1.23 | 2,905.12 | ||
| Tangible Book Value | 8.57B | 6.74B | 2.90B | 1.51B | -186.00M | |
| Tangible Book Value Per Share | 3.43 | 2.74 | 1.23 | 2,905.12 | ||
| Land | 26.00M | 10.00M | ||||
| Machinery | 5.33B | 5.54B | 4.73B | 3.62B | 1.32B | |
| Construction In Progress | 12.42B | 7.64B | 10.77B | 9.00B | 2.49B | |
| Leasehold Improvements | 126.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.74B | 2.70B | 1.69B | 2.81B | 1.98B | -436.00M |
| Depreciation & Amortization | 969.00M | 941.00M | 322.00M | 277.00M | 158.00M | 6.00M |
| Asset Writedown & Restructuring Costs | 7.00M | |||||
| Stock-Based Compensation | 50.00M | 46.00M | 22.00M | 28.00M | 26.00M | 20.00M |
| Other Operating Activities | 1.92B | 2.67B | 33.00M | 1.72B | 1.21B | -171.00M |
| Change in Accounts Receivable | -170.00M | -564.00M | -90.00M | -75.00M | -190.00M | |
| Change in Inventory | -75.00M | -61.00M | -127.00M | -18.00M | -26.00M | |
| Change in Accounts Payable | 405.00M | 873.00M | 288.00M | -55.00M | 541.00M | 66.00M |
| Change in Other Net Operating Assets | -10.00M | -32.00M | 14.00M | -133.00M | 5.00M | 5.00M |
| Operating Cash Flow | 6.83B | 6.57B | 2.15B | 4.55B | 3.70B | -503.00M |
| Capital Expenditures | -13.82B | -13.37B | -13.72B | -8.09B | -4.62B | -2.08B |
| Investment in Securities | -19.00M | -19.00M | -106.00M | -539.00M | 11.00M | |
| Other Investing Activities | 347.00M | 164.00M | -336.00M | -95.00M | 1.72B | -10.00M |
| Investing Cash Flow | -13.49B | -13.22B | -14.16B | -8.72B | -2.90B | -2.08B |
| Long-Term Debt Issued | 16.33B | 9.36B | 16.15B | 7.67B | 7.77B | |
| Long-Term Debt Repaid | -11.07B | -905.00M | -5.92B | -5.04B | -3.27B | |
| Net Debt Issued (Repaid) | 11.85B | 5.26B | 8.46B | 10.23B | 2.63B | 4.50B |
| Issuance of Common Stock | 1.75B | |||||
| Common Dividends Paid | -554.00M | -465.00M | -139.00M | -164.00M | -6.00M | -7.00M |
| Other Financing Activities | -1.23B | -1.08B | -564.00M | -2.44B | -2.38B | -869.00M |
| Financing Cash Flow | 8.33B | 5.46B | 10.75B | 7.63B | 235.00M | 3.62B |
| Net Cash Flow | 1.67B | -1.19B | -1.26B | 3.46B | 1.04B | 1.04B |
| Free Cash Flow | -6.99B | -6.80B | -11.57B | -3.54B | -916.00M | -2.58B |
| Free Cash Flow Margin | -41.24% | -49.38% | -232.66% | -44.84% | -14.21% | |
| Free Cash Flow Per Share | -2.65 | -2.58 | -4.47 | -1.65 | -0.47 | |
| Levered Free Cash Flow | -8.64B | -10.85B | -10.83B | -4.70B | ||
| Unlevered Free Cash Flow | -7.65B | -9.80B | -10.95B | -4.41B | ||
| Cash Interest Paid | 1.38B | 1.00B | 338.00M | 368.00M | 220.00M | |
| Cash Income Tax Paid | -11.00M | 11.00M | 128.00M | |||
| Change in Working Capital | 150.00M | 216.00M | 85.00M | -281.00M | 330.00M | 71.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 36.98B | 16.70B | ||||
| Enterprise Value | 76.66B | 53.76B | ||||
| Last Close Price | 14.79 | 6.78 | ||||
| PE Ratio | 11.64 | 7.39 | ||||
| Forward PE | 9.12 | 5.68 | ||||
| PS Ratio | 2.18 | 1.21 | ||||
| PB Ratio | 4.31 | 1.39 | ||||
| P/TBV Ratio | 4.31 | 2.48 | ||||
| P/OCF Ratio | 5.41 | 2.54 | ||||
| PEG Ratio | 0.20 | 0.31 | ||||
| EV/Sales Ratio | 4.52 | 3.90 | ||||
| EV/EBITDA Ratio | 10.44 | 8.82 | ||||
| EV/EBIT Ratio | 12.02 | 10.43 | ||||
| Debt / Equity Ratio | 3.55 | 2.94 | 3.82 | 6.13 | 6.26 | |
| Debt / EBITDA Ratio | 5.72 | 5.65 | 13.82 | 4.12 | 2.92 | |
| Net Debt / Equity Ratio | 3.29 | 2.74 | 3.34 | 4.69 | 5.91 | |
| Net Debt / EBITDA Ratio | 5.40 | 5.38 | 12.66 | 3.19 | 2.81 | |
| Net Debt / FCF Ratio | -5.68 | -4.83 | -2.28 | -4.60 | -11.38 | |
| Asset Turnover | 0.31 | 0.28 | 0.14 | 0.36 | ||
| Inventory Turnover | 37.96 | 32.52 | 18.05 | 59.29 | ||
| Quick Ratio | 1.05 | 0.76 | 1.16 | 2.27 | 0.46 | |
| Current Ratio | 1.19 | 0.93 | 1.29 | 2.57 | 0.81 | |
| Return on Equity (ROE) | 33.64% | 27.48% | 30.72% | 138.17% | ||
| Return on Assets (ROA) | 7.38% | 6.65% | 3.06% | 13.86% | ||
| Return on Invested Capital (ROIC) | 10.50% | 10.59% | 5.22% | 24.68% | 25.49% | |
| Return on Capital Employed (ROCE) | 11.10% | 10.50% | 4.40% | 18.50% | 26.60% | |
| Earnings Yield | 8.59% | 16.15% | ||||
| FCF Yield | -18.90% | -40.72% | ||||
| Dividend Yield | 1.08% | 0.99% | ||||
| Payout Ratio | 7.32% | 17.24% | 8.24% | 5.83% | 0.30% | |
| Buyback Yield / Dilution | -0.77% | -1.93% | -20.62% | -8.84% | ||
| Total Shareholder Return | 0.32% | -0.95% | -20.62% | -8.84% |