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EXE logoExpand Energy Corporation(EXE)Earnings, Financials & Key Ratios

EXE•NASDAQ
$96.93
$23.3B mkt cap·12.8× P/E·Price updated May 6, 2026
SectorEnergyIndustryOil & Gas E&PSub-IndustryU.S. natural gas shale producers
AboutExpand Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana. As of December 31, 2023, the company owns a portfolio of onshore U.S. unconventional natural gas assets, including interests in approximately 5,000 natural gas wells. The company was formerly known as Chesapeake Energy Corporation and changed its name to Expand Energy Corporation in October 2024. Expand Energy Corporation was founded in 1989 and is based in Oklahoma City, Oklahoma.Show more
  • Revenue$11.65B+176.0%
  • EBITDA$5.02B+441.8%
  • Net Income$1.82B+354.8%
  • EPS (Diluted)7.57+266.4%
  • Gross Margin46.51%+72.1%
  • EBITDA Margin43.07%+96.3%
  • Operating Margin17.49%+191.9%
  • Net Margin15.62%+192.3%
  • ROE10.07%+299.4%
  • ROIC6.64%+292.1%
  • Debt/Equity0.27-17.9%
  • Interest Coverage8.67+250.0%
Analysis→Technical→

EXE Key Insights

Expand Energy Corporation (EXE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 8/9
  • ✓FCF machine: 15.8% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 17.5%
  • ✓Healthy dividend yield of 3.3%
  • ✓Healthy 5Y average net margin of 31.9%

✗Weaknesses

  • ✗Shares diluted 53.1% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

EXE Price & Volume

Expand Energy Corporation (EXE) stock price & volume — 10-year historical chart

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EXE Growth Metrics

Expand Energy Corporation (EXE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-0.91%
5 Years17.46%
3 Years0.59%
TTM163.77%

Profit CAGR

10 Years-
5 Years-
3 Years-28.31%
TTM426.29%

EPS CAGR

10 Years-
5 Years-
3 Years-39.01%
TTM350%

Return on Capital

10 Years-3.46%
5 Years20.45%
3 Years9.4%
Last Year8.12%

EXE Recent Earnings

Expand Energy Corporation (EXE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 28, 2026
EPS
$3.83
Est $3.61
+6.1%
Revenue
$4.4B
Est $3.5B
+24.6%
Q1 2026
Feb 17, 2026
EPS
$2.00
Est $1.87
+7.0%
Revenue
$3.3B
Est $2.9B
+11.4%
Q4 2025
Oct 28, 2025
EPS
$0.97
Est $0.90
+8.0%
Revenue
$3.0B
Est $2.7B
+9.3%
Q3 2025
Jul 29, 2025
EPS
$1.10
Est $1.14
-3.5%
Revenue
$3.7B
Est $2.5B
+44.9%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 28, 2026
$3.83vs $3.61+6.1%
$4.4Bvs $3.5B+24.6%
Q1 2026Feb 17, 2026
$2.00vs $1.87+7.0%
$3.3Bvs $2.9B+11.4%
Q4 2025Oct 28, 2025
$0.97vs $0.90+8.0%
$3.0Bvs $2.7B+9.3%
Q3 2025Jul 29, 2025
$1.10vs $1.14-3.5%
$3.7Bvs $2.5B+44.9%
Based on last 12 quarters of dataView full earnings history →

EXE Peer Comparison

Expand Energy Corporation (EXE) competitors in U.S. natural gas shale producers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
AR logoARAntero Resources CorporationDirect Competitor11.41B36.8418.1521.73%17.54%12.43%0.67
RRC logoRRCRange Resources CorporationDirect Competitor9.7B41.1715.0327.56%28.41%20.93%0.29
CNX logoCNXCNX Resources CorporationDirect Competitor5.19B36.559.1859.19%50.85%27.46%0.57
CTRA logoCTRACoterra Energy Inc.Direct Competitor24.72B32.5514.47-49.62%25.71%11.26%0.27
EQT logoEQTEQT CorporationProduct Competitor35.81B57.3617.3373.74%33.4%12.41%0.29
CRK logoCRKComstock Resources, Inc.Product Competitor4.41B14.9911.1052.22%32.58%23.57%1.00
GPOR logoGPORGulfport Energy CorporationProduct Competitor3.26B180.448.4042.53%41.91%32.67%0.43
XOM logoXOMExxon Mobil CorporationProduct Competitor629.6B148.5622.17-4.52%8.91%10.74%0.16

Compare EXE vs Peers

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

Closest Rival

vs AR

Most directly comparable listed peer for EXE.

Scale Benchmark

vs XOM

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

Peer Set

Compare Top 5

vs AR, RRC, CNX, CTRA

EXE Income Statement

Expand Energy Corporation (EXE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue9.5B10.23B8.49B5.21B7.3B11.44B7.78B4.22B11.65B14.1B
Revenue Growth %20.63%7.74%-17.03%-38.63%40.13%56.73%-32.05%-45.71%175.95%163.77%
Cost of Goods Sold8.42B8.96B8.09B4.59B4.88B3.29B2.74B3.08B6.23B6.57B
COGS % of Revenue88.64%87.54%95.34%88.1%66.85%28.73%35.19%72.97%53.49%-
Gross Profit
1.08B▲ 0%
1.27B▲ 18.2%
396M▼ 68.9%
620M▲ 56.6%
2.42B▲ 290.3%
8.16B▲ 237.0%
5.04B▼ 38.2%
1.14B▼ 77.4%
5.42B▲ 374.8%
7.53B▲ 0%
Gross Margin %11.36%12.46%4.66%11.9%33.15%71.28%64.81%27.03%46.51%53.38%
Gross Profit Growth %265.49%18.16%-68.94%56.57%290.32%237.02%-38.22%-77.36%374.85%-
Operating Expenses1.22B893M427M9.32B95M4.38B1.9B1.94B3.38B3.44B
OpEx % of Revenue12.82%8.73%5.03%178.94%1.3%38.24%24.4%46.06%29.03%-
Selling, General & Admin333M335M315M380M118M4.36B2.63B1.5B3.34B1.7B
SG&A % of Revenue3.51%3.27%3.71%7.29%1.62%38.08%33.77%35.44%28.68%-
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses884M558M112M8.94B-23M19M-729M448M40M4M
Operating Income
-138M▲ 0%
382M▲ 376.8%
-31M▼ 108.1%
-8.7B▼ 27974.2%
2.33B▲ 126.7%
3.78B▲ 62.6%
3.14B▼ 16.9%
-803M▼ 125.6%
2.04B▲ 353.7%
4.08B▲ 0%
Operating Margin %-1.45%3.73%-0.37%-167.04%31.85%33.03%40.41%-19.02%17.49%28.96%
Operating Income Growth %96.87%376.81%-108.12%-27974.19%126.71%62.58%-16.88%-125.56%353.67%-
EBITDA1.56B2.12B2.23B-7.61B3.32B5.53B4.67B926M5.02B7.06B
EBITDA Margin %16.42%20.71%26.3%-145.99%45.47%48.35%60.05%21.94%43.07%50.1%
EBITDA Growth %147.19%35.92%5.38%-440.62%143.65%66.66%-15.62%-80.17%441.79%652.88%
D&A (Non-Cash Add-back)1.7B1.74B2.26B1.1B995M1.75B1.53B1.73B2.98B2.98B
EBIT238M851M12M-9.29B6.31B3.81B3.23B-711M2.04B4.12B
Net Interest Income-425M-634M-652M-331M-84M-160M-104M-123M-235M-235M
Interest Income0000000000
Interest Expense425M634M652M331M84M160M104M123M235M235M
Other Income/Expense-362M-164M-608M-1.07B3.9B-129M-25M-38M245M8M
Pretax Income
-500M▲ 0%
218M▲ 143.6%
-639M▼ 393.1%
-9.77B▼ 1428.8%
6.22B▲ 163.7%
3.65B▼ 41.3%
3.12B▼ 14.6%
-841M▼ 127.0%
2.28B▲ 371.3%
4.09B▲ 0%
Pretax Margin %-5.27%2.13%-7.53%-187.5%85.22%31.91%40.09%-19.92%19.59%29.02%
Income Tax2M-10M-331M-19M-106M-1.28B698M-127M463M863M
Effective Tax Rate %-0.4%-4.59%51.8%0.19%-1.7%-35.2%22.39%15.1%20.29%21.1%
Net Income
-505M▲ 0%
226M▲ 144.8%
-308M▼ 236.3%
-9.73B▼ 3060.4%
6.33B▲ 165.0%
4.94B▼ 22.0%
2.42B▼ 51.0%
-714M▼ 129.5%
1.82B▲ 354.8%
3.23B▲ 0%
Net Margin %-5.32%2.21%-3.63%-186.83%86.67%43.14%31.11%-16.92%15.62%22.89%
Net Income Growth %88.5%144.75%-236.28%-3060.39%165.01%-22%-50.99%-129.52%354.76%426.29%
Net Income (Continuing)-502M228M-308M-9.75B6.33B4.94B2.42B-714M1.82B3.23B
Discontinued Operations0000000000
Minority Interest124M41M37M0000000
EPS (Diluted)
180.00▲ 0%
29.26▼ 83.7%
-49.97▼ 270.8%
-998.26▼ 1897.7%
53.66▲ 105.4%
33.36▼ 37.8%
16.92▼ 49.3%
-4.55▼ 126.9%
7.57▲ 266.4%
13.40▲ 0%
EPS Growth %114.08%-83.74%-270.78%-1897.72%105.38%-37.83%-49.28%-126.89%266.37%350%
EPS (Basic)180.0029.26-49.97-998.2653.6638.7118.21-4.557.67-
Diluted Shares Outstanding4.53M4.54M8.32M9.77M117.92M145.96M142.98M156.99M240.37M240.76M
Basic Shares Outstanding4.53M4.54M8.32M9.77M117.92M125.78M132.84M156.99M237.29M239.9M
Dividend Payout Ratio-40.71%--1.88%24.55%20.13%-42.06%-

EXE Balance Sheet

Expand Energy Corporation (EXE) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets1.52B1.6B1.25B1.11B2.1B2.7B2.61B2B2.92B4.39B
Cash & Short-Term Investments32M213M140M298M905M130M1.08B317M960M2.22B
Cash Only5M4M6M279M905M130M1.08B317M696M2.22B
Short-Term Investments00134M19M0000264M0
Accounts Receivable1.14B1.17B990M746M1.08B1.41B585M1.21B1.6B1.29B
Days Sales Outstanding43.7441.7442.5752.2653.8445.127.46104.4650.1132.3
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets382M424M121M64M121M1.15B945M472M357M877M
Total Non-Current Assets10.9B11.14B14.94B5.48B8.91B12.77B11.77B25.9B25.37B25.13B
Property, Plant & Equipment10.66B10.8B14.77B5.26B8.84B11.31B10.2B24.43B24.36B528M
Fixed Asset Turnover0.89x0.95x0.57x0.99x0.83x1.01x0.76x0.17x0.48x0.77x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments0000018M238M307M360M1.01B
Other Non-Current Assets236M334M174M215M69M1.45B1.33B1.16B488M26.16B
Total Assets
12.43B▲ 0%
12.73B▲ 2.5%
16.19B▲ 27.2%
6.58B▼ 59.3%
11.01B▲ 67.2%
15.47B▲ 40.5%
14.38B▼ 7.1%
27.89B▲ 94.0%
28.29B▲ 1.4%
29.52B▲ 0%
Asset Turnover0.76x0.80x0.52x0.79x0.66x0.74x0.54x0.15x0.41x0.50x
Asset Growth %-4.63%2.5%27.15%-59.34%67.21%40.5%-7.06%94.03%1.41%217.28%
Total Current Liabilities2.36B2.89B2.39B3.09B2.45B2.7B1.31B3.12B2.9B3.95B
Accounts Payable654M763M498M346M308M603M425M777M753M881M
Days Payables Outstanding28.3631.122.4627.5123.0366.9656.792.0844.1244.59
Short-Term Debt52M381M403M1.96B000389M51M875M
Deferred Revenue (Current)00571M305M00001.23B3.38B
Other Current Liabilities1.08B1.14B614M340M1.84B1.65B491M1.37B608M2.19B
Current Ratio0.65x0.55x0.52x0.36x0.86x1.00x1.99x0.64x1.01x1.01x
Quick Ratio0.65x0.55x0.52x0.36x0.86x1.00x1.99x0.64x1.01x1.01x
Cash Conversion Cycle----------12.29
Total Non-Current Liabilities10.44B7.71B9.4B8.83B2.89B3.64B2.33B7.21B6.81B6.03B
Long-Term Debt9.92B7.34B9.07B02.28B3.09B2.03B5.29B5.01B0
Capital Lease Obligations0025M09M33M15M74M00
Deferred Tax Liabilities053M00000000
Other Non-Current Liabilities520M374M293M8.83B604M514M290M1.84B824M8.2B
Total Liabilities12.8B10.6B11.79B11.93B5.34B6.34B3.65B10.33B9.71B9.97B
Total Debt9.97B7.72B9.5B1.96B2.32B3.21B2.13B5.83B5.06B875M
Net Debt9.97B7.72B9.49B1.68B1.41B3.08B1.05B5.51B4.36B-1.34B
Debt / Equity-3.62x2.16x-0.41x0.35x0.20x0.33x0.27x0.27x
Debt / EBITDA6.40x3.64x4.25x-0.70x0.58x0.46x6.29x1.01x0.12x
Net Debt / EBITDA6.39x3.64x4.25x-0.43x0.56x0.22x5.95x0.87x0.87x
Interest Coverage0.56x1.34x0.02x-28.08x75.07x23.82x31.06x-5.78x8.67x17.53x
Total Equity
-372M▲ 0%
2.13B▲ 673.4%
4.4B▲ 106.3%
-5.34B▼ 221.4%
5.67B▲ 206.2%
9.12B▲ 60.9%
10.73B▲ 17.6%
17.57B▲ 63.7%
18.58B▲ 5.8%
19.55B▲ 0%
Equity Growth %69.08%673.39%106.33%-221.36%206.18%60.89%17.59%63.72%5.77%170.59%
Book Value per Share-82.12469.31528.65-546.5148.0962.5175.04111.8977.2981.18
Total Shareholders' Equity-496M2.09B4.36B-5.34B5.67B9.12B10.73B17.57B18.58B19.55B
Common Stock9M9M19M01M1M1M2M2M2M
Retained Earnings-16.52B-13.91B-14.22B-23.95B825M3.4B4.97B3.88B4.83B5.79B
Treasury Stock-31M-31M-32M0000000
Accumulated OCI-57M-23M12M45M000000
Minority Interest124M41M37M0000000

EXE Cash Flow Statement

Expand Energy Corporation (EXE) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations745M1.73B1.62B1.16B1.79B4.13B2.38B1.56B4.58B4.58B
Operating CF Margin %7.85%16.91%19.12%22.34%24.49%36.05%30.61%37.08%39.28%-
Operating CF Growth %465.2%132.21%-6.19%-28.28%53.61%130.7%-42.3%-34.24%192.33%986.4%
Net Income939M225M-308M-9.75B6.33B4.94B2.42B-714M1.82B3.23B
Depreciation & Amortization995M1.83B00995M001.73B2.98B2.98B
Stock-Based Compensation0030M21M022M33M38M46M35M
Deferred Taxes11M-10M-305M-10M-106M-1.33B428M-123M448M804M
Other Non-Cash Items-729M-409M2.46B9.99B-6.24B622M-775M950M-433M-1.14B
Working Capital Changes-471M91M-254M915M814M-123M275M-315M-285M-34M
Change in Receivables00376M00000-370M0
Change in Inventory0000000000
Change in Payables00000000-68M0
Cash from Investing-1.19B455M-2.48B-992M-916M-3.4B473M-1.9B-2.76B-2.85B
Capital Expenditures-2.22B-2B-2.26B-1.14B-735M-1.82B-1.83B-1.56B-2.74B-3.01B
CapEx % of Revenue23.4%19.52%26.66%21.92%10.07%15.93%23.52%36.89%23.49%-
Acquisitions1.3B2.38B-353M150M-181M-1.97B2.53B-459M051M
Investments----------
Other Investing-270M0136M00407M0187M-9M113M
Cash from Financing-434M-2.19B859M101M-237M-1.45B-1.89B-419M-1.51B-1.14B
Debt Issued (Net)-226M-1.94B986M245M-719M829M-1.05B-20M-663M-227M
Equity Issued (Net)0000602M-1.07B-355M3M-76M-97M
Dividends Paid-183M-92M-91M-22M-119M-1.21B-487M-388M-765M-764M
Share Repurchases00000-1.07B-355M0-100M-166M
Other Financing-25M-155M-36M-122M-1M10M0-14M-11M-51M
Net Change in Cash
-877M▲ 0%
-1M▲ 99.9%
2M▲ 300.0%
273M▲ 13550.0%
635M▲ 132.6%
-722M▼ 213.7%
961M▲ 233.1%
-758M▼ 178.9%
301M▲ 139.7%
1.88B▲ 0%
Free Cash Flow
-1.75B▲ 0%
-267M▲ 84.7%
-640M▼ 139.7%
22M▲ 103.4%
1.05B▲ 4686.4%
2.3B▲ 118.6%
551M▼ 76.1%
8M▼ 98.5%
1.84B▲ 22887.5%
2.86B▲ 0%
FCF Margin %-18.4%-2.61%-7.54%0.42%14.42%20.12%7.09%0.19%15.79%20.32%
FCF Growth %24.83%84.72%-139.7%103.44%4686.36%118.61%-76.06%-98.55%22887.5%605.42%
FCF per Share-385.65-58.75-76.882.258.9315.773.850.057.657.65
FCF Conversion (FCF/Net Income)-1.48x7.65x-5.27x-0.12x0.28x0.84x0.98x-2.19x2.52x0.89x
Interest Paid667M0000146M117M0019M
Taxes Paid16M0000193M132M0082M

EXE Key Ratios

Expand Energy Corporation (EXE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)-25.67%-9.43%-3835.15%66.73%24.37%-5.05%10.07%17.39%
Return on Invested Capital (ROIC)-1.15%2.95%-0.2%-127.51%101.85%29.4%19.65%-3.46%6.64%6.64%
Gross Margin11.36%12.46%4.66%11.9%33.15%71.28%64.81%27.03%46.51%53.38%
Net Margin-5.32%2.21%-3.63%-186.83%86.67%43.14%31.11%-16.92%15.62%22.89%
Debt / Equity-3.62x2.16x-0.41x0.35x0.20x0.33x0.27x0.27x
Interest Coverage0.56x1.34x0.02x-28.08x75.07x23.82x31.06x-5.78x8.67x17.53x
FCF Conversion-1.48x7.65x-5.27x-0.12x0.28x0.84x0.98x-2.19x2.52x0.89x
Revenue Growth20.63%7.74%-17.03%-38.63%40.13%56.73%-32.05%-45.71%175.95%163.77%

EXE SEC Filings & Documents

Expand Energy Corporation (EXE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 28, 2026·SEC

Material company update

Apr 10, 2026·SEC

Material company update

Apr 6, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 18, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 29, 2025·SEC

EXE Frequently Asked Questions

Expand Energy Corporation (EXE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Expand Energy Corporation (EXE) reported $14.10B in revenue for fiscal year 2025. This represents a 9582% increase from $145.6M in 1995.

Expand Energy Corporation (EXE) grew revenue by 176.0% over the past year. This is strong growth.

Yes, Expand Energy Corporation (EXE) is profitable, generating $3.23B in net income for fiscal year 2025 (15.6% net margin).

Dividend & Returns

Yes, Expand Energy Corporation (EXE) pays a dividend with a yield of 3.28%. This makes it attractive for income-focused investors.

Expand Energy Corporation (EXE) has a return on equity (ROE) of 10.1%. This is reasonable for most industries.

Expand Energy Corporation (EXE) generated $2.86B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More EXE

Expand Energy Corporation (EXE) financial analysis — history, returns, DCA and operating performance tools

Full EXE Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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