EQT · Eqt Corp - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · EQT

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$8.64B	$5.27B	$6.91B	$12.11B	$6.80B	$3.06B
Cost of Revenue	$1.53B	$1.92B	$2.16B	$2.12B	$1.94B	$1.71B
Gross Profit	$7.11B	$3.36B	$4.75B	$10.00B	$4.86B	$1.35B
R&D	-	-	-	-	-	-
SG&A	$380.07M	$336.72M	$236.17M	$252.65M	$196.31M	$174.77M
Total Operating Expenses	$5.39B	$4.59B	$4.59B	$4.78B	$4.43B	$3.94B
D&A	$2.60B	$2.16B	$1.73B	$1.67B	$1.68B	$1.39B
Operating Income	$3.25B	$685.30M	$2.31B	$2.72B	($1.36B)	($877.67M)
Interest Expense	$438.69M	$454.82M	$219.66M	$249.66M	$308.90M	$271.20M
Income Tax	$651.88M	$22.08M	$368.95M	$553.72M	($434.18M)	($298.86M)
Net Income	$2.04B	$230.58M	$1.74B	$1.77B	($1.16B)	($967.17M)
EPS - Basic	$3.33	$0.45	$4.56	$4.79	($3.71)	-
EPS - Diluted	$3.31	$0.45	$4.22	$4.38	($3.71)	-

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$110.80M	$202.09M	$80.98M	$1.46B	$113.96M	$18.21M
Accounts Receivable	$1.46B	$1.13B	$823.70M	$1.61B	$1.44B	$566.55M
Inventory	-	-	-	-	-	-
Accounts Payable	$1.37B	$1.18B	$1.27B	$1.57B	$1.34B	$705.46M
Current Assets	$1.90B	$1.71B	$2.01B	$4.01B	$2.29B	$1.22B
Total Assets	$41.79B	$39.83B	$25.29B	$22.67B	$21.61B	$18.11B
Current Liabilities	$2.48B	$2.46B	$2.04B	$3.73B	$5.08B	$1.76B
Long-term Debt	$7.29B	$9.00B	$5.50B	$5.26B	$4.53B	$4.77B
Total Liabilities	$14.43B	$15.55B	$10.50B	$11.46B	$11.56B	$8.85B
Stockholders' Equity	$23.75B	$20.60B	$14.77B	$11.17B	$10.03B	$9.26B
Retained Earnings	$4.24B	$2.59B	$2.68B	$1.28B	($115.78M)	$1.05B

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$5.13B	$2.83B	$3.18B	$3.47B	$1.66B	$1.54B
Investing Cash Flow	($2.84B)	($1.58B)	($4.31B)	($1.42B)	($2.07B)	($1.56B)
Financing Cash Flow	($2.37B)	($1.13B)	($242.86M)	($699.13M)	$506.05M	$31.71M
CapEx	$2.29B	$2.25B	$2.02B	$1.40B	$1.06B	$1.04B
Free Cash Flow	$2.84B	$573.26M	$1.16B	$2.07B	$607.32M	$495.47M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	82.3%	63.7%	68.8%	82.5%	71.5%	44.1%
Operating margin	37.6%	13.0%	33.5%	22.4%	-20.0%	-28.7%
EBITDA margin	67.7%	54.0%	58.6%	36.2%	4.6%	16.9%
Net margin	23.6%	4.4%	25.1%	14.6%	-17.0%	-31.6%
Free cash flow margin	32.8%	10.9%	16.8%	17.0%	8.9%	16.2%
FCF / Net income	1.39	2.49	0.67	1.17	-0.53	-0.51
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	4.4%	6.4%	3.4%	2.1%	2.9%	5.7%
Effective tax rate	24.2%	8.7%	17.5%	23.8%	-	-
Return on assets	4.9%	0.6%	6.9%	7.8%	-5.3%	-5.3%
Return on equity	8.6%	1.1%	11.7%	15.9%	-11.5%	-10.4%
Return on invested capital	7.9%	2.1%	9.4%	12.6%	-7.4%	-4.9%
Liquidity
Current ratio	0.76	0.70	0.99	1.08	0.45	0.69
Quick ratio	0.76	0.70	0.99	1.08	0.45	0.69
Cash ratio	0.04	0.08	0.04	0.39	0.02	0.01
Leverage
Debt / Equity	0.31	0.44	0.37	0.47	0.45	0.52
Debt / Assets	0.17	0.23	0.22	0.23	0.21	0.26
Debt / EBITDA	1.25	3.16	1.36	1.20	14.35	9.25
Interest coverage	7.4x	1.5x	10.5x	10.9x	-4.4x	-3.2x
Equity multiplier	1.76	1.93	1.71	2.03	2.15	1.96
Liabilities / Assets	0.35	0.39	0.42	0.51	0.54	0.49
Efficiency
Asset turnover	0.21	0.13	0.27	0.53	0.31	0.17
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	62d	78d	44d	48d	77d	68d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	326d	224d	215d	271d	252d	151d
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	16.2x	102.5x	9.2x	7.7x	-	-
P / B	1.4x	1.2x	1.1x	1.2x	0.6x	-
P / S	3.8x	4.5x	2.3x	1.1x	0.8x	-
EV / EBITDA	6.9x	11.4x	5.3x	4.0x	32.0x	-
Growth
Revenue growth (YoY)	63.9%	-23.7%	-43.0%	78.0%	122.4%	-30.7%
Revenue CAGR (3y)	-10.6%	-8.1%	31.2%	40.0%	13.0%	-
Revenue CAGR (5y)	23.1%	3.6%	8.0%	-	-	-
Gross profit growth (YoY)	111.8%	-29.3%	-52.5%	105.6%	260.6%	-49.4%
Operating income growth (YoY)	374.2%	-70.4%	-14.8%	-	-55.1%	23.8%
Net income growth (YoY)	784.4%	-86.7%	-2.0%	-	-19.5%	20.8%
EPS growth (YoY)	635.6%	-89.3%	-3.7%	-	-	-
EPS CAGR (3y)	-8.9%	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-11.4%	-	-
FCF growth (YoY)	395.0%	-50.6%	-43.8%	240.0%	22.6%	98.8%
FCF CAGR (5y)	41.8%	18.1%	152.4%	-	-	-16.4%
Book value growth (YoY)	15.3%	39.4%	32.2%	11.4%	8.4%	-5.6%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$9.09B total

Upstream Segment$8.02B · 88.3%

Gathering Segment$632.92M · 7.0%

Transmission Segment$435.19M · 4.8%

Product / service

$31.53B total

Revenues From Contract With Customers$8.35B · 26.5%

Sales Of Natural Gas NGLs And Oil At Production$7.73B · 24.5%

Oil And Gas$7.73B · 24.5%

Natural Gas Sales$7.02B · 22.3%

NGLs Sales$620.38M · 2.0%

Oil Sales$87.56M · 0.3%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

1.21

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

8/9

Strong

✓Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
✓Long-term debt decreased
✓Current ratio improved
✗No share dilution
✓Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Crude Petroleum & Natural Gas

Company	Revenue (last FY)	Net margin	ROE
GTE	$596.71M	-32.4%	-84.4%
APA	$2.64B	30.5%	13.2%
EOG	$22.63B	22.0%	16.7%
OVV	$8.91B	13.9%	11.1%
PARR	$7.46B	4.9%	24.4%

Comparing EQT Corp against the 5 most active filers in the same SIC group.

Dividends

$0.65/share trailing 12 months · +3.3% YoY

Ex-date	Per share
May 6, 2026	$0.1650
Feb 17, 2026	$0.1650
Nov 5, 2025	$0.1650
Aug 6, 2025	$0.1580
May 7, 2025	$0.1580
Feb 18, 2025	$0.1580
Nov 6, 2024	$0.1580
Aug 7, 2024	$0.1580
May 7, 2024	$0.1580
Feb 16, 2024	$0.1580
Nov 7, 2023	$0.1580
Aug 8, 2023	$0.1500
May 9, 2023	$0.1500
Feb 17, 2023	$0.1500
Nov 8, 2022	$0.1500
Aug 8, 2022	$0.1500
May 10, 2022	$0.1250
Feb 11, 2022	$0.1250
Feb 13, 2020	$0.0300
Nov 7, 2019	$0.0300
Aug 8, 2019	$0.0300
May 14, 2019	$0.0300
Feb 14, 2019	$0.0300
Nov 20, 2018	$0.0300