EQT Corporation (EQT) 10-Year Financial Performance & Capital Metrics

EQT •

EnergyOil & Gas E&PU.S. natural gas shale producers

AboutEQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play. The company was founded in 1878 and is headquartered in Pittsburgh, Pennsylvania.Show more

Revenue $8.64B +65.5%
EBITDA $6.13B +115.3%
Net Income $2.33B +908.6%
EPS (Diluted) 3.80 +826.8%
Gross Margin 97.4% +562.9%
EBITDA Margin 70.92% +30.1%
Operating Margin 40.84% +211.2%
Net Margin 26.9% +509.3%
ROE 9.01% +662.9%
ROIC 7.73% +306.0%
Debt/Equity 0.29 -26.1%
Interest Coverage 8.05 +434.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 32.8% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 26.6%
✓Healthy 5Y average net margin of 12.7%
✓Trading near 52-week high

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y16.03%

5Y26.59%

3Y-10.7%

TTM65.53%

Profit (Net Income) CAGR

10Y39.2%

5Y-

3Y9.51%

TTM784.41%

EPS CAGR

10Y21.1%

5Y-

3Y-4.62%

TTM724.61%

ROCE

10Y Avg0.21%

5Y Avg5.86%

3Y Avg7.48%

Latest9.21%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.86B	2.99B	4.74B	3.8B	2.66B	6.84B	12.14B	5.07B	5.22B	8.64B
Revenue Growth %	-4.95%	60.88%	58.52%	-19.77%	-30.03%	157.26%	77.5%	-58.24%	3%	65.53%
Cost of Goods Sold+	1.03B	1.16B	1.81B	1.73B	1.57B	3.84B	4.08B	4.13B	4.45B	225.13M
COGS % of Revenue	55.49%	38.75%	38.13%	45.49%	59.24%	56.2%	33.62%	81.43%	85.31%	2.6%
Gross Profit+	605.42M	1.54B	2.93B	2.07B	1.08B	3B	8.06B	941.58M	767.22M	8.42B
Gross Margin %	32.6%	51.65%	61.87%	54.51%	40.76%	43.8%	66.38%	18.57%	14.69%	97.4%
Gross Profit Growth %	-36.73%	154.91%	89.88%	-29.31%	-47.68%	176.41%	169.04%	-88.32%	-18.52%	997.35%
Operating Expenses+	1.36B	1.16B	5.71B	3.22B	1.96B	4.36B	5.34B	-1.37B	81.92M	5.17B
OpEx % of Revenue	73.25%	38.86%	120.63%	84.83%	73.78%	63.69%	44%	-27.08%	1.57%	59.8%
Selling, General & Admin	218.95M	208.99M	232.54M	170.61M	174.77M	196.31M	252.65M	236.17M	336.72M	380.07M
SG&A % of Revenue	11.79%	6.99%	4.91%	4.49%	6.57%	2.87%	2.08%	4.66%	6.45%	4.4%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.14B	952.07M	5.48B	3.05B	1.79B	4.16B	5.09B	-1.61B	-254.8M	4.79B
Operating Income+	-755.03M	382.21M	-2.78B	-1.15B	-877.67M	-1.36B	2.72B	2.31B	685.3M	3.53B
Operating Margin %	-40.65%	12.79%	-58.76%	-30.32%	-33.01%	-19.9%	22.39%	45.65%	13.12%	40.84%
Operating Income Growth %	-234.07%	150.62%	-828.16%	58.6%	23.82%	-55.07%	299.71%	-14.85%	-70.39%	415.11%
EBITDA+	172.89M	1.44B	-1.01B	445.85M	567.29M	347.9M	4.38B	4.05B	2.85B	6.13B
EBITDA Margin %	9.31%	48.35%	-21.3%	11.73%	21.34%	5.09%	36.11%	79.81%	54.53%	70.92%
EBITDA Growth %	-87.49%	735.65%	-169.84%	144.18%	27.24%	-38.67%	1160.11%	-7.7%	-29.63%	115.28%
D&A (Non-Cash Add-back)	927.92M	1.06B	1.77B	1.6B	1.44B	1.71B	1.67B	1.73B	2.16B	2.6B
EBIT	-763.1M	366.58M	-2.85B	-1.4B	-994.83M	-1.28B	2.58B	2.32B	719.02M	0
Net Interest Income+	-131.16M	-167.97M	-228.96M	-199.85M	-259.27M	-289.75M	-249.66M	-219.66M	-454.82M	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	131.16M	167.97M	228.96M	199.85M	259.27M	289.75M	249.66M	219.66M	454.82M	438.69M
Other Income/Expense	-139.23M	-183.6M	-294.31M	-445.36M	-376.44M	-208.56M	-383.33M	-210.91M	-421.1M	-272.08M
Pretax Income+	-894.26M	198.61M	-3.08B	-1.6B	-1.25B	-1.57B	2.33B	2.1B	264.19M	2.98B
Pretax Margin %	-48.15%	6.65%	-64.97%	-42.04%	-47.17%	-22.95%	19.23%	41.49%	5.06%	34.45%
Income Tax+	-362.77M	-1.19B	-696.51M	-375.78M	-295.29M	-428.04M	553.72M	368.95M	22.08M	651.88M
Effective Tax Rate %	50.65%	759.53%	72.94%	76.48%	76.45%	72.81%	75.86%	82.49%	87.28%	78.11%
Net Income+	-452.98M	1.51B	-2.24B	-1.22B	-958.8M	-1.14B	1.77B	1.74B	230.58M	2.33B
Net Margin %	-24.39%	50.49%	-47.39%	-32.15%	-36.06%	-16.71%	14.59%	34.23%	4.42%	26.9%
Net Income Growth %	-631.85%	433.02%	-248.79%	45.57%	21.52%	-19.19%	254.97%	-2.02%	-86.71%	908.63%
Net Income (Continuing)	-531.49M	1.39B	-2.38B	-1.22B	-958.81M	-1.14B	1.78B	1.73B	242.12M	2.33B
Discontinued Operations	0	121.5M	136.35M	0	0	0	0	0	0	0
Minority Interest	3.26B	5.09B	0	0	7.49M	16.24M	40.85M	7.62M	3.68B	3.61B
EPS (Diluted)+	-2.71	8.04	-8.60	-4.79	-3.71	-3.57	4.38	4.20	0.41	3.80
EPS Growth %	-583.93%	396.68%	-206.97%	44.3%	22.55%	3.77%	222.69%	-4.11%	-90.24%	826.83%
EPS (Basic)	-2.71	8.05	-8.60	-4.79	-3.71	-3.57	4.79	4.56	0.45	3.80
Diluted Shares Outstanding	166.98M	187.73M	260.93M	255.14M	260.61M	323.2M	406.5M	413.22M	559.6M	611.57M
Basic Shares Outstanding	166.98M	187.38M	260.93M	255.14M	260.61M	323.2M	370.05M	380.9M	509.6M	611.57M
Dividend Payout Ratio	-	1.38%	-	-	-	-	11.5%	13.16%	141.64%	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.83B	1.16B	1.97B	1.75B	1.22B	2.29B	4.01B	2.01B	1.71B	1.9B
Cash & Short-Term Investments	1.39B	147.31M	3.49M	4.6M	18.21M	113.96M	1.46B	80.98M	202.09M	110.8M
Cash Only	1.1B	147.31M	3.49M	4.6M	18.21M	113.96M	1.46B	80.98M	202.09M	110.8M
Short-Term Investments	286.4M	0	0	0	0	0	0	0	0	0
Accounts Receivable	341.63M	679.07M	1.37B	908.94M	566.55M	1.44B	1.61B	915.11M	1.23B	1.49B
Days Sales Outstanding	67.14	82.95	105.84	87.31	77.78	76.74	48.35	65.88	85.97	62.73
Inventory	33.05M	241.95M	481.65M	0	0	0	0	0	0	0
Days Inventory Outstanding	11.71	76.28	97.33	-	-	-	-	-	-	-
Other Current Assets	33.05M	412.6M	481.65M	812.66M	609.63M	691.11M	912.99M	1.02B	282.6M	298.64M
Total Non-Current Assets+	13.64B	28.36B	18.75B	17.05B	16.9B	20.46B	18.66B	23.27B	38.12B	39.9B
Property, Plant & Equipment	13.16B	24.89B	17.39B	16.16B	16.05B	18.42B	18.17B	23B	31.84B	33.56B
Fixed Asset Turnover	0.14x	0.12x	0.27x	0.24x	0.17x	0.37x	0.67x	0.22x	0.16x	0.26x
Goodwill	0	2B	0	0	0	0	0	0	2.08B	2.06B
Intangible Assets	0	736.36M	77.33M	26.01M	0	0	0	22.59M	215.26M	200.49M
Long-Term Investments	184.56M	460.55M	1.01B	676.01M	0	410M	0	92.7M	3.62B	3.63B
Other Non-Current Assets	297.93M	278.9M	389.9M	-1.29B	822.15M	465.6M	-954.25M	273.15M	455.62M	446.39M
Total Assets+	15.47B	29.52B	20.72B	18.81B	18.11B	22.75B	22.67B	25.29B	39.83B	41.79B
Asset Turnover	0.12x	0.10x	0.23x	0.20x	0.15x	0.30x	0.54x	0.20x	0.13x	0.21x
Asset Growth %	10.71%	90.8%	-29.81%	-9.23%	-3.7%	25.6%	-0.36%	11.54%	57.52%	4.93%
Total Current Liabilities+	804.64M	1.23B	2.36B	1.35B	1.76B	5.19B	3.73B	2.04B	2.46B	2.48B
Accounts Payable	309.98M	726.43M	1.06B	796.44M	705.46M	1.34B	1.57B	1.27B	1.18B	1.37B
Days Payables Outstanding	109.78	229.02	214.18	168.19	163.5	127.16	140.82	112.51	96.49	2.22K
Short-Term Debt	0	12.41M	704.39M	16.2M	154.16M	1.06B	422.63M	292.43M	320.8M	507.12M
Deferred Revenue (Current)	0	324.79M	75.98M	191.53M	0	0	0	0	24.19M	0
Other Current Liabilities	269.41M	219.12M	389.55M	346.7M	675.29M	2.47B	1.43B	229.6M	543.35M	610.29M
Current Ratio	2.27x	0.94x	0.84x	1.30x	0.69x	0.44x	1.08x	0.99x	0.70x	0.76x
Quick Ratio	2.23x	0.75x	0.63x	1.30x	0.69x	0.44x	1.08x	0.99x	0.70x	0.76x
Cash Conversion Cycle	-30.94	-69.79	-11.01	-	-	-	-	-	-	-
Total Non-Current Liabilities+	5.55B	9.88B	7.41B	7.66B	7.09B	7.59B	7.72B	8.47B	13.09B	11.95B
Long-Term Debt	3.29B	5.98B	4.79B	5.28B	4.77B	4.53B	5.26B	5.5B	9B	7.29B
Capital Lease Obligations	0	0	0	0	0	24.73M	12.55M	0	0	0
Deferred Tax Liabilities	1.76B	1.77B	1.82B	1.49B	1.37B	2.05B	0	1.9B	2.85B	3.47B
Other Non-Current Liabilities	499.57M	3.89B	791.74M	897.15M	945.06M	960.04M	2.46B	1.06B	1.24B	1.18B
Total Liabilities	6.35B	11.11B	9.76B	9.01B	8.85B	12.78B	11.46B	10.5B	15.55B	14.43B
Total Debt+	3.29B	7.33B	5.5B	5.32B	4.95B	5.64B	5.71B	5.84B	9.37B	7.8B
Net Debt	2.19B	7.18B	5.49B	5.32B	4.93B	5.53B	4.26B	5.76B	9.16B	7.69B
Debt / Equity	0.36x	0.40x	0.50x	0.54x	0.53x	0.57x	0.51x	0.40x	0.39x	0.29x
Debt / EBITDA	19.03x	5.07x	-	11.94x	8.73x	16.22x	1.30x	1.44x	3.29x	1.27x
Net Debt / EBITDA	12.64x	4.97x	-	11.93x	8.69x	15.89x	0.97x	1.42x	3.22x	1.25x
Interest Coverage	-5.76x	2.28x	-12.16x	-5.76x	-3.39x	-4.70x	10.89x	10.54x	1.51x	8.05x
Total Equity+	9.12B	18.41B	10.96B	9.8B	9.26B	9.97B	11.21B	14.78B	24.28B	27.36B
Equity Growth %	13.59%	101.93%	-40.49%	-10.54%	-5.52%	7.65%	12.46%	31.81%	64.25%	12.69%
Book Value per Share	54.61	98.09	42.00	38.42	35.54	30.85	27.59	35.77	43.38	44.74
Total Shareholders' Equity	5.86B	13.32B	10.96B	9.8B	9.26B	9.95B	11.17B	14.77B	20.6B	23.75B
Common Stock	3.44B	9.39B	7.83B	7.82B	8.24B	10.07B	9.89B	12.09B	18.01B	19.52B
Retained Earnings	2.51B	4B	3.18B	2.02B	1.05B	-115.78M	1.28B	2.68B	2.59B	4.24B
Treasury Stock	-91.02M	-63.6M	-49.19M	-32.51M	-29.35M	-18.05M	0	0	0	0
Accumulated OCI	2.04M	-2.46M	-5.41M	-5.2M	-5.36M	-4.61M	-2.99M	-2.68M	-2.32M	-2.17M
Minority Interest	3.26B	5.09B	0	0	7.49M	16.24M	40.85M	7.62M	3.68B	3.61B

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	1.06B	1.64B	2.98B	1.85B	1.54B	1.66B	3.47B	3.18B	2.83B	5.13B
Operating CF Margin %	57.3%	54.81%	62.84%	48.73%	57.84%	24.31%	28.55%	62.7%	54.13%	59.3%
Operating CF Growth %	-12.54%	53.87%	81.73%	-37.78%	-16.96%	8.11%	108.46%	-8.27%	-11.07%	81.32%
Net Income	-131.06M	1.86B	-2.01B	-1.22B	-958.81M	-1.14B	1.78B	1.73B	242.12M	2.33B
Depreciation & Amortization	927.92M	1.06B	1.77B	1.6B	1.44B	1.71B	1.67B	1.73B	2.16B	2.6B
Stock-Based Compensation	44.6M	94.59M	25.19M	31.23M	19.55M	28.17M	45.2M	49.83M	158.34M	60.78M
Deferred Taxes	-180.26M	-1.05B	-510.4M	-275.06M	-152.28M	-427.47M	534.61M	384.67M	14.73M	657.84M
Other Non-Cash Items	577.39M	-316.32M	3.81B	1.7B	1.05B	1.86B	-660.39M	-1.11B	531.24M	-518.71M
Working Capital Changes	-173.12M	-10.66M	-119.5M	19.54M	139.18M	-366.71M	99.23M	383.63M	-281.81M	0
Change in Receivables	-130.63M	-21.26M	-439.06M	432.32M	-36.3M	-699.99M	-168.98M	867.68M	-220.45M	-353.47M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	40.55M	-16.68M	457.11M	-238.67M	-29.19M	456.99M	181.46M	-406.11M	16.51M	207.07M
Cash from Investing+	-2.89B	-4.2B	-3.98B	-1.6B	-1.56B	-2.07B	-1.42B	-4.31B	-1.58B	-2.84B
Capital Expenditures	-2.59B	-1.94B	-3.73B	-1.6B	-1.04B	-1.06B	-1.4B	-2.02B	-2.25B	-2.29B
CapEx % of Revenue	139.41%	64.9%	78.79%	42.17%	39.2%	15.43%	11.54%	39.82%	43.16%	26.47%
Acquisitions	-85.87M	-2.54B	-820.94M	0	-691.94M	-1.03B	-206.74M	-2.28B	-1.02B	-483.52M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	69.74M	-7.85M	573.6M	1.31M	126.05M	-11.74M	-3.82M	-10.64M	1.7B	9.99M
Cash from Financing+	1.4B	1.53B	859.02M	-249.45M	31.71M	506.05M	-699.13M	-242.86M	-1.13B	-2.37B
Debt Issued (Net)	195.88M	1.9B	2.18B	-210.66M	-237.39M	545.66M	82.96M	234.16M	-4.13B	0
Equity Issued (Net)	1000K	-30K	-1000K	0	1000K	-1000K	-1000K	-1000K	1000K	0
Dividends Paid	-20.16M	-20.83M	-31.38M	-30.66M	-7.66M	0	-203.63M	-228.34M	-326.58M	-389.63M
Share Repurchases	-30K	-30K	-538.9M	0	0	-12.92M	-409.49M	-201.03M	0	0
Other Financing	-219.33M	-343.13M	-746.33M	-8.14M	-64.15M	-26.7M	-168.97M	-47.66M	-81.62M	-1.98B
Net Change in Cash	-497.69M	-956.23M	-143.83M	1.11M	13.61M	95.75M	1.34B	-1.38B	121.12M	-91.3M
Free Cash Flow+	-1.53B	-1.12B	-755.51M	249.25M	495.47M	607.32M	2.07B	1.16B	573.26M	2.84B
FCF Margin %	-82.18%	-37.5%	-15.95%	6.56%	18.64%	8.88%	17.01%	22.88%	10.98%	32.83%
FCF Growth %	-25.42%	26.6%	32.57%	132.99%	98.78%	22.57%	240.04%	-43.84%	-50.57%	394.98%
FCF per Share	-9.14	-5.97	-2.90	0.98	1.90	1.88	5.08	2.81	1.02	4.64
FCF Conversion (FCF/Net Income)	-2.35x	1.09x	-1.33x	-1.52x	-1.60x	-1.45x	1.96x	1.83x	12.26x	2.20x
Interest Paid	144.66M	189.37M	260.96M	198.56M	195.68M	280.51M	236.8M	213.14M	401.77M	0
Taxes Paid	-41.14M	3.64M	3.67M	1.71M	448.91M	19.16M	20.77M	13.35M	7.96M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-5.28%	10.96%	-15.28%	-11.77%	-10.06%	-11.88%	16.72%	13.35%	1.18%	9.01%
Return on Invested Capital (ROIC)	-5.44%	1.55%	-9.93%	-5.47%	-4.49%	-6.87%	13.16%	9.64%	1.9%	7.73%
Gross Margin	32.6%	51.65%	61.87%	54.51%	40.76%	43.8%	66.38%	18.57%	14.69%	97.4%
Net Margin	-24.39%	50.49%	-47.39%	-32.15%	-36.06%	-16.71%	14.59%	34.23%	4.42%	26.9%
Debt / Equity	0.36x	0.40x	0.50x	0.54x	0.53x	0.57x	0.51x	0.40x	0.39x	0.29x
Interest Coverage	-5.76x	2.28x	-12.16x	-5.76x	-3.39x	-4.70x	10.89x	10.54x	1.51x	8.05x
FCF Conversion	-2.35x	1.09x	-1.33x	-1.52x	-1.60x	-1.45x	1.96x	1.83x	12.26x	2.20x
Revenue Growth	-4.95%	60.88%	58.52%	-19.77%	-30.03%	157.26%	77.5%	-58.24%	3%	65.53%

US Stock Screener

...

EQT Corporation (EQT) 10-Year Financial Performance & Capital Metrics

EQT •

EnergyOil & Gas E&PU.S. natural gas shale producers

Revenue $8.64B +65.5%
EBITDA $6.13B +115.3%
Net Income $2.33B +908.6%
EPS (Diluted) 3.80 +826.8%
Gross Margin 97.4% +562.9%
EBITDA Margin 70.92% +30.1%
Operating Margin 40.84% +211.2%
Net Margin 26.9% +509.3%
ROE 9.01% +662.9%
ROIC 7.73% +306.0%
Debt/Equity 0.29 -26.1%
Interest Coverage 8.05 +434.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 32.8% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 26.6%
✓Healthy 5Y average net margin of 12.7%
✓Trading near 52-week high

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y16.03%

5Y26.59%

3Y-10.7%

TTM65.53%

Profit (Net Income) CAGR

10Y39.2%

5Y-

3Y9.51%

TTM784.41%

EPS CAGR

10Y21.1%

5Y-

3Y-4.62%

TTM724.61%

ROCE

10Y Avg0.21%

5Y Avg5.86%

3Y Avg7.48%

Latest9.21%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.86B	2.99B	4.74B	3.8B	2.66B	6.84B	12.14B	5.07B	5.22B	8.64B
Revenue Growth %	-4.95%	60.88%	58.52%	-19.77%	-30.03%	157.26%	77.5%	-58.24%	3%	65.53%
Cost of Goods Sold+	1.03B	1.16B	1.81B	1.73B	1.57B	3.84B	4.08B	4.13B	4.45B	225.13M
COGS % of Revenue	55.49%	38.75%	38.13%	45.49%	59.24%	56.2%	33.62%	81.43%	85.31%	2.6%
Gross Profit+	605.42M	1.54B	2.93B	2.07B	1.08B	3B	8.06B	941.58M	767.22M	8.42B
Gross Margin %	32.6%	51.65%	61.87%	54.51%	40.76%	43.8%	66.38%	18.57%	14.69%	97.4%
Gross Profit Growth %	-36.73%	154.91%	89.88%	-29.31%	-47.68%	176.41%	169.04%	-88.32%	-18.52%	997.35%
Operating Expenses+	1.36B	1.16B	5.71B	3.22B	1.96B	4.36B	5.34B	-1.37B	81.92M	5.17B
OpEx % of Revenue	73.25%	38.86%	120.63%	84.83%	73.78%	63.69%	44%	-27.08%	1.57%	59.8%
Selling, General & Admin	218.95M	208.99M	232.54M	170.61M	174.77M	196.31M	252.65M	236.17M	336.72M	380.07M
SG&A % of Revenue	11.79%	6.99%	4.91%	4.49%	6.57%	2.87%	2.08%	4.66%	6.45%	4.4%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.14B	952.07M	5.48B	3.05B	1.79B	4.16B	5.09B	-1.61B	-254.8M	4.79B
Operating Income+	-755.03M	382.21M	-2.78B	-1.15B	-877.67M	-1.36B	2.72B	2.31B	685.3M	3.53B
Operating Margin %	-40.65%	12.79%	-58.76%	-30.32%	-33.01%	-19.9%	22.39%	45.65%	13.12%	40.84%
Operating Income Growth %	-234.07%	150.62%	-828.16%	58.6%	23.82%	-55.07%	299.71%	-14.85%	-70.39%	415.11%
EBITDA+	172.89M	1.44B	-1.01B	445.85M	567.29M	347.9M	4.38B	4.05B	2.85B	6.13B
EBITDA Margin %	9.31%	48.35%	-21.3%	11.73%	21.34%	5.09%	36.11%	79.81%	54.53%	70.92%
EBITDA Growth %	-87.49%	735.65%	-169.84%	144.18%	27.24%	-38.67%	1160.11%	-7.7%	-29.63%	115.28%
D&A (Non-Cash Add-back)	927.92M	1.06B	1.77B	1.6B	1.44B	1.71B	1.67B	1.73B	2.16B	2.6B
EBIT	-763.1M	366.58M	-2.85B	-1.4B	-994.83M	-1.28B	2.58B	2.32B	719.02M	0
Net Interest Income+	-131.16M	-167.97M	-228.96M	-199.85M	-259.27M	-289.75M	-249.66M	-219.66M	-454.82M	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	131.16M	167.97M	228.96M	199.85M	259.27M	289.75M	249.66M	219.66M	454.82M	438.69M
Other Income/Expense	-139.23M	-183.6M	-294.31M	-445.36M	-376.44M	-208.56M	-383.33M	-210.91M	-421.1M	-272.08M
Pretax Income+	-894.26M	198.61M	-3.08B	-1.6B	-1.25B	-1.57B	2.33B	2.1B	264.19M	2.98B
Pretax Margin %	-48.15%	6.65%	-64.97%	-42.04%	-47.17%	-22.95%	19.23%	41.49%	5.06%	34.45%
Income Tax+	-362.77M	-1.19B	-696.51M	-375.78M	-295.29M	-428.04M	553.72M	368.95M	22.08M	651.88M
Effective Tax Rate %	50.65%	759.53%	72.94%	76.48%	76.45%	72.81%	75.86%	82.49%	87.28%	78.11%
Net Income+	-452.98M	1.51B	-2.24B	-1.22B	-958.8M	-1.14B	1.77B	1.74B	230.58M	2.33B
Net Margin %	-24.39%	50.49%	-47.39%	-32.15%	-36.06%	-16.71%	14.59%	34.23%	4.42%	26.9%
Net Income Growth %	-631.85%	433.02%	-248.79%	45.57%	21.52%	-19.19%	254.97%	-2.02%	-86.71%	908.63%
Net Income (Continuing)	-531.49M	1.39B	-2.38B	-1.22B	-958.81M	-1.14B	1.78B	1.73B	242.12M	2.33B
Discontinued Operations	0	121.5M	136.35M	0	0	0	0	0	0	0
Minority Interest	3.26B	5.09B	0	0	7.49M	16.24M	40.85M	7.62M	3.68B	3.61B
EPS (Diluted)+	-2.71	8.04	-8.60	-4.79	-3.71	-3.57	4.38	4.20	0.41	3.80
EPS Growth %	-583.93%	396.68%	-206.97%	44.3%	22.55%	3.77%	222.69%	-4.11%	-90.24%	826.83%
EPS (Basic)	-2.71	8.05	-8.60	-4.79	-3.71	-3.57	4.79	4.56	0.45	3.80
Diluted Shares Outstanding	166.98M	187.73M	260.93M	255.14M	260.61M	323.2M	406.5M	413.22M	559.6M	611.57M
Basic Shares Outstanding	166.98M	187.38M	260.93M	255.14M	260.61M	323.2M	370.05M	380.9M	509.6M	611.57M
Dividend Payout Ratio	-	1.38%	-	-	-	-	11.5%	13.16%	141.64%	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.83B	1.16B	1.97B	1.75B	1.22B	2.29B	4.01B	2.01B	1.71B	1.9B
Cash & Short-Term Investments	1.39B	147.31M	3.49M	4.6M	18.21M	113.96M	1.46B	80.98M	202.09M	110.8M
Cash Only	1.1B	147.31M	3.49M	4.6M	18.21M	113.96M	1.46B	80.98M	202.09M	110.8M
Short-Term Investments	286.4M	0	0	0	0	0	0	0	0	0
Accounts Receivable	341.63M	679.07M	1.37B	908.94M	566.55M	1.44B	1.61B	915.11M	1.23B	1.49B
Days Sales Outstanding	67.14	82.95	105.84	87.31	77.78	76.74	48.35	65.88	85.97	62.73
Inventory	33.05M	241.95M	481.65M	0	0	0	0	0	0	0
Days Inventory Outstanding	11.71	76.28	97.33	-	-	-	-	-	-	-
Other Current Assets	33.05M	412.6M	481.65M	812.66M	609.63M	691.11M	912.99M	1.02B	282.6M	298.64M
Total Non-Current Assets+	13.64B	28.36B	18.75B	17.05B	16.9B	20.46B	18.66B	23.27B	38.12B	39.9B
Property, Plant & Equipment	13.16B	24.89B	17.39B	16.16B	16.05B	18.42B	18.17B	23B	31.84B	33.56B
Fixed Asset Turnover	0.14x	0.12x	0.27x	0.24x	0.17x	0.37x	0.67x	0.22x	0.16x	0.26x
Goodwill	0	2B	0	0	0	0	0	0	2.08B	2.06B
Intangible Assets	0	736.36M	77.33M	26.01M	0	0	0	22.59M	215.26M	200.49M
Long-Term Investments	184.56M	460.55M	1.01B	676.01M	0	410M	0	92.7M	3.62B	3.63B
Other Non-Current Assets	297.93M	278.9M	389.9M	-1.29B	822.15M	465.6M	-954.25M	273.15M	455.62M	446.39M
Total Assets+	15.47B	29.52B	20.72B	18.81B	18.11B	22.75B	22.67B	25.29B	39.83B	41.79B
Asset Turnover	0.12x	0.10x	0.23x	0.20x	0.15x	0.30x	0.54x	0.20x	0.13x	0.21x
Asset Growth %	10.71%	90.8%	-29.81%	-9.23%	-3.7%	25.6%	-0.36%	11.54%	57.52%	4.93%
Total Current Liabilities+	804.64M	1.23B	2.36B	1.35B	1.76B	5.19B	3.73B	2.04B	2.46B	2.48B
Accounts Payable	309.98M	726.43M	1.06B	796.44M	705.46M	1.34B	1.57B	1.27B	1.18B	1.37B
Days Payables Outstanding	109.78	229.02	214.18	168.19	163.5	127.16	140.82	112.51	96.49	2.22K
Short-Term Debt	0	12.41M	704.39M	16.2M	154.16M	1.06B	422.63M	292.43M	320.8M	507.12M
Deferred Revenue (Current)	0	324.79M	75.98M	191.53M	0	0	0	0	24.19M	0
Other Current Liabilities	269.41M	219.12M	389.55M	346.7M	675.29M	2.47B	1.43B	229.6M	543.35M	610.29M
Current Ratio	2.27x	0.94x	0.84x	1.30x	0.69x	0.44x	1.08x	0.99x	0.70x	0.76x
Quick Ratio	2.23x	0.75x	0.63x	1.30x	0.69x	0.44x	1.08x	0.99x	0.70x	0.76x
Cash Conversion Cycle	-30.94	-69.79	-11.01	-	-	-	-	-	-	-
Total Non-Current Liabilities+	5.55B	9.88B	7.41B	7.66B	7.09B	7.59B	7.72B	8.47B	13.09B	11.95B
Long-Term Debt	3.29B	5.98B	4.79B	5.28B	4.77B	4.53B	5.26B	5.5B	9B	7.29B
Capital Lease Obligations	0	0	0	0	0	24.73M	12.55M	0	0	0
Deferred Tax Liabilities	1.76B	1.77B	1.82B	1.49B	1.37B	2.05B	0	1.9B	2.85B	3.47B
Other Non-Current Liabilities	499.57M	3.89B	791.74M	897.15M	945.06M	960.04M	2.46B	1.06B	1.24B	1.18B
Total Liabilities	6.35B	11.11B	9.76B	9.01B	8.85B	12.78B	11.46B	10.5B	15.55B	14.43B
Total Debt+	3.29B	7.33B	5.5B	5.32B	4.95B	5.64B	5.71B	5.84B	9.37B	7.8B
Net Debt	2.19B	7.18B	5.49B	5.32B	4.93B	5.53B	4.26B	5.76B	9.16B	7.69B
Debt / Equity	0.36x	0.40x	0.50x	0.54x	0.53x	0.57x	0.51x	0.40x	0.39x	0.29x
Debt / EBITDA	19.03x	5.07x	-	11.94x	8.73x	16.22x	1.30x	1.44x	3.29x	1.27x
Net Debt / EBITDA	12.64x	4.97x	-	11.93x	8.69x	15.89x	0.97x	1.42x	3.22x	1.25x
Interest Coverage	-5.76x	2.28x	-12.16x	-5.76x	-3.39x	-4.70x	10.89x	10.54x	1.51x	8.05x
Total Equity+	9.12B	18.41B	10.96B	9.8B	9.26B	9.97B	11.21B	14.78B	24.28B	27.36B
Equity Growth %	13.59%	101.93%	-40.49%	-10.54%	-5.52%	7.65%	12.46%	31.81%	64.25%	12.69%
Book Value per Share	54.61	98.09	42.00	38.42	35.54	30.85	27.59	35.77	43.38	44.74
Total Shareholders' Equity	5.86B	13.32B	10.96B	9.8B	9.26B	9.95B	11.17B	14.77B	20.6B	23.75B
Common Stock	3.44B	9.39B	7.83B	7.82B	8.24B	10.07B	9.89B	12.09B	18.01B	19.52B
Retained Earnings	2.51B	4B	3.18B	2.02B	1.05B	-115.78M	1.28B	2.68B	2.59B	4.24B
Treasury Stock	-91.02M	-63.6M	-49.19M	-32.51M	-29.35M	-18.05M	0	0	0	0
Accumulated OCI	2.04M	-2.46M	-5.41M	-5.2M	-5.36M	-4.61M	-2.99M	-2.68M	-2.32M	-2.17M
Minority Interest	3.26B	5.09B	0	0	7.49M	16.24M	40.85M	7.62M	3.68B	3.61B

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	1.06B	1.64B	2.98B	1.85B	1.54B	1.66B	3.47B	3.18B	2.83B	5.13B
Operating CF Margin %	57.3%	54.81%	62.84%	48.73%	57.84%	24.31%	28.55%	62.7%	54.13%	59.3%
Operating CF Growth %	-12.54%	53.87%	81.73%	-37.78%	-16.96%	8.11%	108.46%	-8.27%	-11.07%	81.32%
Net Income	-131.06M	1.86B	-2.01B	-1.22B	-958.81M	-1.14B	1.78B	1.73B	242.12M	2.33B
Depreciation & Amortization	927.92M	1.06B	1.77B	1.6B	1.44B	1.71B	1.67B	1.73B	2.16B	2.6B
Stock-Based Compensation	44.6M	94.59M	25.19M	31.23M	19.55M	28.17M	45.2M	49.83M	158.34M	60.78M
Deferred Taxes	-180.26M	-1.05B	-510.4M	-275.06M	-152.28M	-427.47M	534.61M	384.67M	14.73M	657.84M
Other Non-Cash Items	577.39M	-316.32M	3.81B	1.7B	1.05B	1.86B	-660.39M	-1.11B	531.24M	-518.71M
Working Capital Changes	-173.12M	-10.66M	-119.5M	19.54M	139.18M	-366.71M	99.23M	383.63M	-281.81M	0
Change in Receivables	-130.63M	-21.26M	-439.06M	432.32M	-36.3M	-699.99M	-168.98M	867.68M	-220.45M	-353.47M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	40.55M	-16.68M	457.11M	-238.67M	-29.19M	456.99M	181.46M	-406.11M	16.51M	207.07M
Cash from Investing+	-2.89B	-4.2B	-3.98B	-1.6B	-1.56B	-2.07B	-1.42B	-4.31B	-1.58B	-2.84B
Capital Expenditures	-2.59B	-1.94B	-3.73B	-1.6B	-1.04B	-1.06B	-1.4B	-2.02B	-2.25B	-2.29B
CapEx % of Revenue	139.41%	64.9%	78.79%	42.17%	39.2%	15.43%	11.54%	39.82%	43.16%	26.47%
Acquisitions	-85.87M	-2.54B	-820.94M	0	-691.94M	-1.03B	-206.74M	-2.28B	-1.02B	-483.52M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	69.74M	-7.85M	573.6M	1.31M	126.05M	-11.74M	-3.82M	-10.64M	1.7B	9.99M
Cash from Financing+	1.4B	1.53B	859.02M	-249.45M	31.71M	506.05M	-699.13M	-242.86M	-1.13B	-2.37B
Debt Issued (Net)	195.88M	1.9B	2.18B	-210.66M	-237.39M	545.66M	82.96M	234.16M	-4.13B	0
Equity Issued (Net)	1000K	-30K	-1000K	0	1000K	-1000K	-1000K	-1000K	1000K	0
Dividends Paid	-20.16M	-20.83M	-31.38M	-30.66M	-7.66M	0	-203.63M	-228.34M	-326.58M	-389.63M
Share Repurchases	-30K	-30K	-538.9M	0	0	-12.92M	-409.49M	-201.03M	0	0
Other Financing	-219.33M	-343.13M	-746.33M	-8.14M	-64.15M	-26.7M	-168.97M	-47.66M	-81.62M	-1.98B
Net Change in Cash	-497.69M	-956.23M	-143.83M	1.11M	13.61M	95.75M	1.34B	-1.38B	121.12M	-91.3M
Free Cash Flow+	-1.53B	-1.12B	-755.51M	249.25M	495.47M	607.32M	2.07B	1.16B	573.26M	2.84B
FCF Margin %	-82.18%	-37.5%	-15.95%	6.56%	18.64%	8.88%	17.01%	22.88%	10.98%	32.83%
FCF Growth %	-25.42%	26.6%	32.57%	132.99%	98.78%	22.57%	240.04%	-43.84%	-50.57%	394.98%
FCF per Share	-9.14	-5.97	-2.90	0.98	1.90	1.88	5.08	2.81	1.02	4.64
FCF Conversion (FCF/Net Income)	-2.35x	1.09x	-1.33x	-1.52x	-1.60x	-1.45x	1.96x	1.83x	12.26x	2.20x
Interest Paid	144.66M	189.37M	260.96M	198.56M	195.68M	280.51M	236.8M	213.14M	401.77M	0
Taxes Paid	-41.14M	3.64M	3.67M	1.71M	448.91M	19.16M	20.77M	13.35M	7.96M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-5.28%	10.96%	-15.28%	-11.77%	-10.06%	-11.88%	16.72%	13.35%	1.18%	9.01%
Return on Invested Capital (ROIC)	-5.44%	1.55%	-9.93%	-5.47%	-4.49%	-6.87%	13.16%	9.64%	1.9%	7.73%
Gross Margin	32.6%	51.65%	61.87%	54.51%	40.76%	43.8%	66.38%	18.57%	14.69%	97.4%
Net Margin	-24.39%	50.49%	-47.39%	-32.15%	-36.06%	-16.71%	14.59%	34.23%	4.42%	26.9%
Debt / Equity	0.36x	0.40x	0.50x	0.54x	0.53x	0.57x	0.51x	0.40x	0.39x	0.29x
Interest Coverage	-5.76x	2.28x	-12.16x	-5.76x	-3.39x	-4.70x	10.89x	10.54x	1.51x	8.05x
FCF Conversion	-2.35x	1.09x	-1.33x	-1.52x	-1.60x	-1.45x	1.96x	1.83x	12.26x	2.20x
Revenue Growth	-4.95%	60.88%	58.52%	-19.77%	-30.03%	157.26%	77.5%	-58.24%	3%	65.53%

EQT Corporation (EQT) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare EQT vs Peers

vs INR

vs EXE

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

EQT Corporation (EQT) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare EQT vs Peers

vs INR

vs EXE

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios