VG · Venture Global, Inc. - 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.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '22 |
|---|---|---|---|---|---|---|
| Revenue | $4.60B | - | $926.00M | $3.10B | $1.41B | - |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $46.00M | - | $53.00M | $174.00M | $181.00M | - |
| SG&A | $97.00M | - | $105.00M | $75.00M | $72.00M | - |
| Total Operating Expenses | $3.45B | - | $2.01B | $2.06B | $797.00M | - |
| D&A | $251.00M | - | $218.00M | $70.00M | $70.00M | - |
| Operating Income | $1.15B | - | $1.32B | $1.04B | $617.00M | - |
| Interest Expense | $444.00M | - | $128.00M | $310.00M | $186.00M | - |
| Income Tax | $111.00M | - | $87.00M | $116.00M | $175.00M | - |
| Net Income | $488.00M | - | ($347.00M) | $368.00M | $648.00M | - |
| EPS - Basic | $0.20 | - | ($0.15) | $0.13 | $0.28 | - |
| EPS - Diluted | $0.19 | - | ($0.15) | $0.12 | $0.25 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '22 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.60B | $2.35B | $1.88B | $2.25B | $3.60B | $2.41B |
| Accounts Receivable | $810.00M | $918.00M | $633.00M | $673.00M | $364.00M | - |
| Inventory | $241.00M | $253.00M | $227.00M | $184.00M | $171.00M | - |
| Accounts Payable | $817.00M | $737.00M | $947.00M | $601.00M | $791.00M | - |
| Current Assets | $3.22B | $4.04B | $3.26B | $3.98B | $4.89B | - |
| Total Assets | $56.30B | $53.45B | $50.08B | $46.51B | $43.49B | - |
| Current Liabilities | $3.71B | $4.34B | $3.92B | $2.86B | $3.54B | - |
| Long-term Debt | $36.46B | $33.39B | $31.74B | $29.77B | $29.09B | - |
| Total Liabilities | $43.95B | $41.45B | $39.26B | $36.10B | $35.59B | - |
| Stockholders' Equity | $7.23B | $6.74B | $5.69B | $5.27B | $4.88B | - |
| Retained Earnings | $5.16B | $4.72B | $3.69B | $3.31B | $2.61B | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '22 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $763.00M | - | - | - | $638.00M | - |
| Investing Cash Flow | ($3.00B) | - | - | - | ($3.14B) | - |
| Financing Cash Flow | $1.86B | - | - | - | $1.72B | - |
| CapEx | $3.18B | - | - | - | $3.00B | - |
| Free Cash Flow | ($2.42B) | - | - | - | ($2.37B) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '22 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 25.0% | - | 142.5% | 33.5% | 43.6% | - |
| EBITDA margin | 30.5% | - | 166.1% | 35.7% | 48.6% | - |
| Net margin | 10.6% | - | -37.5% | 11.9% | 45.8% | - |
| Free cash flow margin | -52.6% | - | - | - | -167.3% | - |
| FCF / Net income | -4.95 | - | - | - | -3.65 | - |
| R&D / Revenue | 1.0% | - | 5.7% | 5.6% | 12.8% | - |
| SG&A / Revenue | 2.1% | - | 11.3% | 2.4% | 5.1% | - |
| Effective tax rate | 18.5% | - | - | 24.0% | 21.3% | - |
| Return on assets | 0.9% | - | -0.7% | 0.8% | 1.5% | - |
| Return on equity | 6.7% | - | -6.1% | 7.0% | 13.3% | - |
| Return on invested capital | 2.1% | - | 2.8% | 2.3% | 1.4% | - |
| Liquidity | ||||||
| Current ratio | 0.87 | 0.93 | 0.83 | 1.39 | 1.38 | - |
| Quick ratio | 0.80 | 0.87 | 0.77 | 1.33 | 1.33 | - |
| Cash ratio | 0.43 | 0.54 | 0.48 | 0.79 | 1.02 | - |
| Leverage | ||||||
| Debt / Equity | 5.04 | 4.95 | 5.58 | 5.65 | 5.96 | - |
| Debt / Assets | 0.65 | 0.62 | 0.63 | 0.64 | 0.67 | - |
| Debt / EBITDA | 26.00 | - | 20.64 | 26.87 | 42.34 | - |
| Interest coverage | 2.6x | - | 10.3x | 3.3x | 3.3x | - |
| Equity multiplier | 7.78 | 7.93 | 8.80 | 8.83 | 8.91 | - |
| Liabilities / Assets | 0.78 | 0.78 | 0.78 | 0.78 | 0.82 | - |
| Efficiency | ||||||
| Asset turnover | 0.08 | - | 0.02 | 0.07 | 0.03 | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 64d | - | 250d | 79d | 94d | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 82.9x | - | - | 129.8x | 41.2x | - |
| P / B | 5.7x | - | 5.9x | 7.6x | 5.4x | - |
| P / S | 9.0x | - | 36.0x | 12.9x | 18.8x | - |
| EV / EBITDA | 54.5x | - | 41.1x | 61.1x | 75.8x | - |
| Growth | ||||||
| Revenue growth (YoY) | 225.2% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 86.5% | - | - | - | - | - |
| Net income growth (YoY) | -24.7% | - | - | - | - | - |
| EPS growth (YoY) | -24.0% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -2.2% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 48.2% | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$15.82B totalPlaquemines Project Segment$9.18B · 58.0%
Calcasieu Project Segment$4.13B · 26.1%
Sales And Shipping Segment$2.52B · 15.9%
CP2 Project Segment$1.00M · 0.0%
Product / service
$13.77B totalLiquefied Natural Gas$13.69B · 99.4%
Product And Service Other$82.00M · 0.6%
Geographic
$13.77B totalUS$11.38B · 82.6%
DE$772.00M · 5.6%
FR$682.00M · 5.0%
NL$456.00M · 3.3%
Other Geographical Areas$320.00M · 2.3%
GB$164.00M · 1.2%
Peer comparison
Same SIC group: Natural Gas Distribution
Comparing Venture Global against the 5 most active filers in the same SIC group.
Dividends
$0.07/share trailing 12 months · +305.9% YoY
| Ex-date | Per share |
|---|---|
| Mar 16, 2026 | $0.0180 |
| Dec 15, 2025 | $0.0170 |
| Sep 19, 2025 | $0.0170 |
| Jun 10, 2025 | $0.0170 |
| Mar 10, 2025 | $0.0170 |