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EQT
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EQTEQT Corporation
$49.40$30.9B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
EQT logo

EQT Corporation

EQT
NYSE · Oil & Gas Producers
$49.40
At close - Nov 6, 4:00 PM EST - USD
Market Cap$30.9B
P/E11.1x
52W High$68.24
Volume7.72M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Deleveraging Momentum Offsets Revenue Plateau Risks

EQT Corporation presents a fundamental picture of balance sheet repair meeting decelerating top-line momentum, with total debt cut from $13.8B in 2024Q3 to $5.2B in 2026Q3 while equity grew to $25.5B, compressing the debt-to-equity ratio from 0.67 to 0.18.

GrowthMixed
ProfitabilityStrong
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

EQT price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

10/12 Beats

EPS beat 10 of last 12 quarters

02

Valuation risk

-15% Peers

P/E is 15% below peer median

03

Market leadership

RS 42 · Lag

Laggard (Underperforming 58% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Jan 27
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue plateaued near $1.8B after four quarters of double-digit expansion, with the latest quarter showing a 2.9% year-over-year decline, while reported gross margins swung wildly from 96.1% to negative 23.2% across the ten-quarter window, suggesting non-operating and derivative items significantly distort reported profitability.

Analyst Consensus+35.1% target
Buy(46 analysts)
31 Buy15 Hold0 Sell

The Bull Case

Upside Catalysts

Strong natural gas position

EQT Corporation is a leading natural gas producer, which positions it well in the energy sector.

Attractive valuation metrics

EQT's forward P/E of 13.50 suggests potential undervaluation compared to its trailing P/E of 29.35.

Bullish analyst sentiment

There is a bullish thesis on EQT from 24K Research's Substack, indicating positive analyst outlook.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
EQT-6.35%
S&P 500 (^GSPC)+7.63%
1-Year Return
EQT-11.04%
S&P 500 (^GSPC)+9.69%
3-Year Return
EQT+21.12%
S&P 500 (^GSPC)+65.22%
5-Year Return
EQT+153.57%
S&P 500 (^GSPC)+52.85%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
11.1x
Forward P/E
13.2x
EV/EBITDA40th %ile
5.9x
FCF YieldCash Flow
12.3%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
11.1x
16.2x
50th· Fair
EV/EBITDA
5.9x
7.2x
40th· Fair
Price/FCF
8.1x
11.8x
20th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$88.86+79.9%
Base (Fair)$146.42+196.4%
Bull$280.16+467.1%
$88.86 Bear$146.42 Base$280.16 Bull
Current Market Price: $49.40
Trades at a 66.3% discount to Base DCF ($146.42)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$9.07B+73.7% YoY
Net income FY25
$2.04B+784.4% YoY
Free cash flow FY25
$2.84B+395.0% YoY
Operating margin FY25
34.7%+21.6 pts YoY
ROIC (FY25)6.9%
Avg ROIC 5Y4.9%
ROE (TTM)9.8%
Piotroski Score8 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate10/12 (83%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 27, 2026
$0.42+14.4%
vs $0.37
$1.8B+0.3%
vs $1.8B
Q3 2026
Jul 21, 2026
$0.39-5.4%
vs $0.41
$1.8B+2.6%
vs $1.8B
Q2 2026
Apr 21, 2026
$2.33+12.0%
vs $2.08
$3.4B+5.1%
vs $3.2B
Q1 2026
Feb 17, 2026
$0.90+18.4%
vs $0.76
$2.4B+12.2%
vs $2.1B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Seeking Alpha·1d ago
Diamond Hill Large Cap Fund Q3 2026 Portfolio Update

The Fund returned 3.18% compared to a 2.61% return for the Russell 1000 Value Index. Key contributors include Microsoft, Salesforce and Thermo Fisher Scientific. Key detractors include Aon, Carrier Global and Builders FirstSource.

Seeking Alpha·Oct 30, 2026
Dividend Champion, Contender, And Challenger Highlights: Week November 1

A weekly summary of dividend activity for Dividend Champions, Contenders, and Challengers. Companies that changed their dividends. Companies with upcoming ex-dividend dates.

Zacks Investment Research·Oct 30, 2026
EQT (EQT) Reports Q3 Earnings: What Key Metrics Have to Say

Although the revenue and EPS for EQT (EQT) give a sense of how its business performed in the quarter ended September 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

The Motley Fool·Oct 29, 2026
EQT and Range Resources Are Merging: Is It Time to Buy the New U.S. Natural Gas Titan?

Range will give EQT more liquids-rich natural gas. EQT should be able to see solid synergies from the deal.

Filtered for EQT CorporationMore Headlines
04

Compare before deciding

Benchmark EQT against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for EQT Corporation (EQT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
EQT logoEQTEQT CorporationCurrent
$49.40$30.9B11.1473.74%30.23%9.79%1.26%
AR logoARAntero Resources Corporation
$36.08$11.09B8.1021.73%22.74%16.72%—
RRC logoRRCRange Resources Corporation
$48.72$11.38B12.8527.56%25.48%19.27%0.73%
CNX logoCNXCNX Resources Corporation
$34.92$4.94B5.6548.87%36.22%19.58%—
DVN logoDVNDevon Energy Corporation
$42.21$29.56B11.027.83%16.22%12.56%2.33%
COP logoCOPConocoPhillips
$136.27$166.02B14.107.67%17.06%17.75%2.34%

Compare EQT vs Peers

EQT Corporation (EQT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AR

Most directly comparable listed peer for EQT.

Scale Benchmark

vs XOM

Larger-name benchmark to compare EQT against a more recognizable public peer.

Peer Set

Compare Top 5

vs AR, RRC, CNX, DVN

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

EQT SEC Filings & Documents

EQT Corporation (EQT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Oct 27, 2026·SEC

Material company update

Oct 26, 2026·SEC

Material company update

Oct 13, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 18, 2026·SEC

FY 2025

Feb 19, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Oct 28, 2026·SEC

FY 2026

Jul 22, 2026·SEC

FY 2026

Apr 22, 2026·SEC

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EQT Frequently Asked Questions

EQT Corporation (EQT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is EQT Corporation's revenue?

EQT Corporation (EQT) reported $9.23B in revenue over the trailing twelve months. Revenue was $9.07B in fiscal year 2025. That is 387% more than the $1.86B of fiscal year 1996.

How fast is EQT Corporation growing?

EQT Corporation (EQT) grew revenue by 7.3% over the trailing twelve months, compared with the twelve months before.

Is EQT profitable?

Yes. EQT Corporation (EQT) earned $2.79B in net income over the trailing twelve months (a 30.2% net margin).

Dividend & Returns
Does EQT pay dividends?

Yes. EQT Corporation (EQT) pays a dividend that yields 1.26% at the current price, a moderate yield.

What is EQT's return on equity?

EQT Corporation (EQT) had a return on equity (ROE) of 9.8% over the trailing twelve months. That is below the market's typical 10-15%.

What is EQT Corporation's free cash flow?

EQT Corporation (EQT) generated $3.81B in free cash flow over the trailing twelve months.

What if you invested $1,000 in EQT back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →