EQT Corporation

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

                    Revenue
                    FY2025
                
$8.6B
                    3y CAGR +4.9%
                    
                    P82
                    
                    +63.9%
                    
                    Net income
                    FY2025
                
$2.0B
                    Net margin +23.6%
                    
                    P100
                    
                    +784.4%
                    
                    Total assets
                    FY2025
                
$41.8B
                    ROA +4.9%
                    
                    P37
                    
                    +4.9%
                    
                    Operating cash flow
                    FY2025
                
$5.1B
                    FCF margin +32.8%
                    
                    P100
                    
                    +81.3%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 5 years

Total assets $41.8B

Total liabilities $14.4B

Shareholders equity $23.8B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	1.3%	3.8%	1.2%	19.5%	3.7%
Accounts Receivable	16.9%	21.5%	11.9%	21.4%	46.9%
Prepaid Expenses	1.1%	2.6%	0.6%	1.8%	6.2%
Other Current Assets	2.7%	4.6%	15.5%	10.8%	17.7%
Total Current Assets	21.9%	32.5%	29.1%	53.5%	74.6%
Property,Plant and Equipment	388.2%	602.0%	332.2%	242.3%	601.0%
Goodwill	23.9%	39.4%	0.0%	—	—
Intangible Assets	2.3%	4.1%	0.3%	—	—
Long Term Investments	42.0%	68.6%	1.3%	—	—
Other Noncurrent Assets	5.2%	8.6%	3.0%	6.5%	29.4%
Total Assets	483.5%	755.3%	366.0%	302.4%	705.0%
Liabilities
Accounts Payable	15.8%	22.3%	18.4%	21.0%	43.7%
Accrued Liabilities	1.6%	3.2%	1.2%	—	—
Current Portion of Long Term Debt	5.9%	6.1%	4.2%	5.6%	34.6%
Other Current Liabilities	5.5%	15.1%	5.7%	23.1%	90.9%
Total Current Liabilities	28.7%	46.7%	29.5%	49.8%	169.2%
Long Term Debt	84.4%	170.7%	78.5%	68.9%	144.7%
Deferred Tax Liabilities	40.2%	54.1%	27.6%	19.2%	29.6%
Other Noncurrent Liabilities	13.7%	23.4%	16.5%	14.9%	36.1%
Total Liabilities	167.0%	294.9%	152.0%	152.8%	379.7%
Equity
Common Stock	225.8%	341.6%	175.0%	131.9%	328.6%
Retained Earnings	49.0%	49.0%	38.8%	17.1%	-3.1%
Accumulated Other Comprehensive Income	-0.0%	-0.0%	-0.0%	-0.0%	-0.2%
Total Stockholders Equity	274.8%	390.6%	213.8%	149.0%	324.8%
Noncontrolling Interest	41.7%	69.8%	0.1%	0.5%	0.5%
Total Liabilitiesand Equity	483.5%	755.3%	366.0%	302.4%	705.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $8.6B

Operating income $3.2B

Net income $2.0B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	17.7%	36.3%	31.2%	28.2%	63.4%
Expenses Selling,General and Administrative	4.4%	6.4%	3.4%	3.4%	6.4%
Expenses Depreciation and Amortization	30.1%	41.0%	25.1%	22.2%	54.7%
Expenses Restructuring and Asset Impairment	0.6%	1.8%	1.6%	2.4%	9.5%
Expenses Other Operating Expenses	7.0%	-0.7%	5.0%	7.5%	10.4%
Other Income Expense Operating Income	37.6%	13.0%	33.5%	36.3%	-44.4%
Other Income Expense Interest Expense	5.1%	8.6%	3.2%	3.3%	10.1%
Other Income Expense Other Income/expense	1.9%	0.6%	0.1%	-1.8%	2.6%
Other Income Expense Income Before Tax	34.4%	5.0%	30.4%	31.1%	-51.8%
Income Tax Income Tax Expense	7.5%	0.4%	5.3%	7.4%	-14.2%
net Income Other Items Below Tax	-3.3%	-0.2%	0.0%	-0.1%	-0.0%
net Income net Income	23.6%	4.4%	25.1%	23.6%	-37.7%
net Income Comprehensive Income	23.6%	4.4%	25.1%	23.6%	-37.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	-0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	-0.0%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $5.1B

Investing cash flow $-2.8B

Financing cash flow $-2.4B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	26.9%	4.6%	25.1%	23.8%	-37.2%
Operating Activities Depreciation and Amortization	30.1%	41.0%	25.1%	22.2%	54.7%
Operating Activities Stock Based Compensation	0.7%	3.0%	0.7%	0.6%	0.9%
Operating Activities Deferred Income Taxes	7.6%	0.3%	5.6%	7.1%	-13.9%
Operating Activities Changes In Operating Assets and Liabilities	-0.3%	-5.5%	8.0%	0.8%	-10.4%
Operating Activities Other Non Cash Items	-5.7%	10.2%	-18.5%	-8.3%	60.2%
Operating Activities net Cash From Operating Activities	59.3%	53.6%	46.0%	46.2%	54.2%
Investing Activities Capital Expenditures	-26.5%	-42.7%	-29.2%	-18.7%	-34.4%
Investing Activities Business Acquisitions	-5.6%	-16.6%	-32.9%	-2.7%	-33.6%
Investing Activities Purchases of Investments	-1.0%	-2.8%	-0.2%	-0.0%	—
Investing Activities Other Investing Activities	0.1%	32.2%	-0.2%	-0.1%	-0.4%
Investing Activities net Cash From Investing Activities	-32.9%	-30.0%	-62.4%	-19.0%	-67.6%
Financing Activities Proceeds From Debt	40.8%	144.8%	32.7%	149.9%	296.5%
Financing Activities Repayment of Debt	-58.3%	-223.1%	-29.3%	-148.8%	-278.7%
Financing Activities Repurchase of Common Stock	0.0%	0.0%	-2.9%	-5.5%	-0.4%
Financing Activities Dividends Paid	-4.5%	-6.2%	-3.3%	-2.7%	0.0%
Financing Activities Tax Withholding On Stock Based Compensation	-0.6%	-2.0%	-0.6%	-0.3%	—
Financing Activities Other Financing Activities	-4.8%	65.1%	-0.1%	-1.9%	-0.9%
Financing Activities net Cash From Financing Activities	-27.4%	-21.4%	-3.5%	-9.3%	16.5%
Cash Reconciliation net Change In Cash	-1.1%	2.3%	-19.9%	17.9%	3.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+82.3%	+63.7%	+68.8%	+71.8%	+36.6%
Operating margin	+37.6%	+13.0%	+33.5%	+36.3%	-44.4%
Net margin	+23.6%	+4.4%	+25.1%	+23.6%	-37.7%
FCF margin	+32.8%	+10.9%	+16.8%	+27.5%	+19.8%
Growth
Revenue CAGR (3y)	+4.9%	+19.8%	+31.2%	+19.3%	-12.4%
Returns
ROE	+8.6%	+1.1%	+11.7%	+15.9%	-11.6%
ROA	+4.9%	+0.6%	+6.9%	+7.8%	-5.3%
ROIC	+8.1%	+2.1%	+9.4%	+13.5%	-8.9%
Liquidity
Current ratio	0.76x	0.70x	0.99x	1.08x	0.44x
Quick ratio	0.63x	0.54x	0.44x	0.82x	0.30x
Leverage
D/E	0.61x	0.76x	0.71x	1.03x	1.17x
Interest coverage	7.41x	1.51x	10.54x	10.89x	-4.41x
Efficiency
Asset turnover	0.21x	0.13x	0.27x	0.33x	0.14x
Cash conversion cycle	—	—	—	—	—

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EQT Corporation

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