EQT Corporation

Energy Oil & Gas Exploration & Production Pittsburgh, Pennsylvania Last filing Feb 18, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.6B
                    3y CAGR +4.9%
                    
                    P74
                    
                    +63.9%
                    
                    Net income
                    FY2025
                
$2.0B
                    Net margin +23.6%
                    
                    P95
                    
                    +784.4%
                    
                    Total assets
                    FY2025
                
$41.8B
                    ROA +4.9%
                    
                    P36
                    
                    +4.9%
                    
                    Operating cash flow
                    FY2025
                
$5.1B
                    FCF margin +32.8%
                    
                    P92
                    
                    +81.3%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

27 accounts · 3 years

Total assets $41.8B

Total liabilities $14.4B

Shareholders equity $23.8B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$110.8M -45.2%	$202.1M 149.6%	$81.0M
Short Term Investments	$0	$0	$0
Accounts Receivable	$1.5B 28.7%	$1.1B 37.5%	$823.7M
Other Current Assets	$0 -100.0%	$52.0M -43.1%	$91.4M
Total Current Assets	$1.9B 10.5%	$1.7B -14.8%	$2.0B
Property,Plant and Equipment	$33.6B 5.7%	$31.7B 38.3%	$23.0B
Goodwill	$2.1B -0.8%	$2.1B	—
Intangible Assets	$200.5M -6.9%	$215.3M	$0
Long Term Investments	$3.6B 0.4%	$3.6B 6232.4%	$56.6M
Other Noncurrent Assets	$446.4M -2.0%	$455.6M 41.5%	$322.0M
Total Assets	$41.8B 4.9%	$39.8B 57.5%	$25.3B
Liabilities
Accounts Payable	$1.4B 16.1%	$1.2B -7.5%	$1.3B
Accrued Liabilities	$137.5M 130.3%	$59.7M 109.8%	$28.5M
Current Portion of Long Term Debt	$507.1M 58.1%	$320.8M 9.7%	$292.4M
Other Current Liabilities	$335.5M -4.0%	$349.4M 22.4%	$285.5M
Total Current Liabilities	$2.5B 0.9%	$2.5B 20.9%	$2.0B
Long Term Debt	$7.3B -19.0%	$9.0B 63.6%	$5.5B
Deferred Tax Liabilities	$3.5B 21.8%	$2.9B 49.7%	$1.9B
Other Noncurrent Liabilities	$0 -100.0%	$1.2B 16.6%	$1.1B
Total Liabilities	$14.4B -7.2%	$15.6B 48.1%	$10.5B
Equity
Common Stock	$19.5B 8.3%	$18.0B 49.0%	$12.1B
Retained Earnings	$4.2B 63.9%	$2.6B -3.6%	$2.7B
Treasury Stock	$0	$0	$0
Accumulated Other Comprehensive Income	$-2.2M 6.4%	$-2.3M 13.5%	$-2.7M
Noncontrolling Interest	$3.6B -2.0%	$3.7B 48219.7%	$7.6M
Total Stockholders Equity	$23.8B 15.3%	$20.6B 39.4%	$14.8B
Total Liabilitiesand Equity	$41.8B 4.9%	$39.8B 57.5%	$25.3B

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $8.6B

Operating income $3.2B

Net income $2.0B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$8.6B 63.9%	$5.3B -23.7%	$6.9B
Expenses Cost of Revenue	$1.5B -20.0%	$1.9B -11.2%	$2.2B
Expenses Selling,General and Administrative	$380.1M 12.9%	$336.7M 42.6%	$236.2M
Expenses Depreciation and Amortization	$2.6B 20.3%	$2.2B 24.8%	$1.7B
Expenses Share Based Compensation	$60.8M -61.6%	$158.3M 217.7%	$49.8M
Expenses Operating Expenses	$5.4B 17.6%	$4.6B -0.1%	$4.6B
Other Income Expense Operating Income	$3.2B 374.2%	$685.3M -70.4%	$2.3B
Other Income Expense Other Income/expense	$4.8M -81.4%	$26.0M 2010.7%	$1.2M
Other Income Expense Income Before Tax	$3.0B 1027.0%	$264.2M -87.4%	$2.1B
Income Tax Income Tax Expense	$651.9M 2852.5%	$22.1M -94.0%	$369.0M
net Income net Income	$2.0B 784.4%	$230.6M -86.7%	$1.7B
net Income Comprehensive Income	$2.0B 783.1%	$230.9M -86.7%	$1.7B
Earnings Per Share Basic Eps	$3 640.0%	$0 -90.1%	$5
Earnings Per Share Diluted Eps	$3 635.6%	$0 -89.3%	$4
Earnings Per Share Weighted Average Shares Basic	$611.6M 20.0%	$509.6M 33.8%	$380.9M
Earnings Per Share Weighted Average Shares Diluted	$615.7M 19.7%	$514.6M 24.5%	$413.2M

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 3 years

Operating cash flow $5.1B

Investing cash flow $-2.8B

Financing cash flow $-2.4B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$2.0B 784.4%	$230.6M -86.7%	$1.7B
Operating Activities Depreciation and Amortization	$2.6B 20.3%	$2.2B 24.8%	$1.7B
Operating Activities Stock Based Compensation	$59.6M 19.2%	$50.0M -2.4%	$51.2M
Operating Activities Deferred Income Taxes	$657.8M 4365.4%	$14.7M -96.2%	$384.7M
Operating Activities Changes In Operating Assets and Liabilities	$560.5M 136.6%	$237.0M 118.6%	$-1.3B
Operating Activities Other Non Cash Items	$-201.9M -2833.9%	$7.4M 104.3%	$-171.7M
Operating Activities net Cash From Operating Activities	$5.1B 81.3%	$2.8B -11.1%	$3.2B
Investing Activities Capital Expenditures	$2.3B 1.5%	$2.3B 11.6%	$2.0B
Investing Activities Business Acquisitions	$483.5M -44.7%	$874.3M -61.5%	$2.3B
Investing Activities Other Investing Activities	$245.0K 206.3%	$80.0K -99.5%	$14.8M
Investing Activities net Cash From Investing Activities	$-2.8B -80.1%	$-1.6B 63.4%	$-4.3B
Financing Activities Proceeds From Debt	$3.5B -48.8%	$6.9B 583.9%	$1.0B
Financing Activities Repayment of Debt	$1.4B -67.5%	$4.3B 324.7%	$1.0B
Financing Activities Repurchase of Common Stock	$0	$0 -100.0%	$201.0M
Financing Activities Dividends Paid	$389.6M 19.3%	$326.6M 43.0%	$228.3M
Financing Activities Proceeds From Stock Issuance	$0 -100.0%	$5.1M	$0
Financing Activities Tax Withholding On Stock Based Compensation	$54.2M -47.3%	$102.9M 146.2%	$41.8M
Financing Activities Other Financing Activities	$-6.3M -813.9%	$889.0K -44.5%	$1.6M
Financing Activities net Cash From Financing Activities	$-2.4B -110.7%	$-1.1B -363.6%	$-242.9M
Cash Reconciliation Effect of Exchange Rate On Cash	$110.8M -45.2%	$202.1M 149.6%	$81.0M
Cash Reconciliation net Change In Cash	$-91.3M -175.4%	$121.1M 108.8%	$-1.4B
Cash Reconciliation Cash At Beginning of Period	$110.8M -45.2%	$202.1M 149.6%	$81.0M
Cash Reconciliation Cash At End of Period	$110.8M -45.2%	$202.1M 149.6%	$81.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+82.3%	+63.7%	+68.8%
Operating margin	+37.6%	+13.0%	+33.5%
Net margin	+23.6%	+4.4%	+25.1%
FCF margin	+32.8%	+10.9%	+16.8%
Growth
Revenue CAGR (3y)	+4.9%	+19.8%	+31.2%
Returns
ROE	+8.6%	+1.1%	+11.7%
ROA	+4.9%	+0.6%	+6.9%
ROIC	+8.1%	+2.1%	+9.3%
Liquidity
Current ratio	0.76x	0.70x	0.99x
Quick ratio	0.63x	0.54x	0.44x
Leverage
D/E	0.61x	0.76x	0.71x
Interest coverage	—	—	10.54x
Efficiency
Asset turnover	0.21x	0.13x	0.27x
Cash conversion cycle	—	—	—

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EQT Corporation

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