New Fortress Energy Inc. (NFE) Revenue History
Annual and quarterly revenue from 2016 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
NFE Revenue Growth
Revenue Breakdown (FY 2024)
NFE's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
NFE Revenue Analysis (2016–2025)
As of May 8, 2026, New Fortress Energy Inc. (NFE) generated trailing twelve-month (TTM) revenue of $1.50 billion, reflecting significant decline in growth of -40.4% year-over-year. The most recent quarter (Q4 2025) recorded $404.4 million in revenue, up 23.5% sequentially.
Looking at the longer-term picture, NFE's 5-year compound annual growth rate (CAGR) stands at +27.2%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $2.41 billion in 2023.
Revenue diversification analysis shows NFE's business is primarily driven by Cargo Sales (95%), and Incentive Fees (5%). With over half of revenue concentrated in Cargo Sales, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including GLNG (+51.1% YoY), FLNG (-2.4% YoY), and CLCO (-1.7% YoY), NFE has underperformed the peer group in terms of revenue growth. Compare NFE vs GLNG →
NFE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NFECurrent | $1.5B | -40.4% | +27.2% | -11.3% | |
 GLNG | $394M | +51.1% | -2.1% | 34.4% | |
 FLNG | $348M | -2.4% | +16.1% | 50.6% | |
 CLCO | $323M | -1.7% | - | 50.5% | |
 LNG | $19.6B | +20.1% | +15.9% | 27.0% | |
 CQP | $8.7B | +15.4% | +4.9% | 37.7% |
NFE Historical Revenue Data (2016–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.50B | -36.4% | $136.8M | 9.1% | $-170,621,000 | -11.3% |
| 2024 | $2.36B | -2.0% | $1.10B | 46.7% | $538.6M | 22.8% |
| 2023 | $2.41B | +1.9% | $1.30B | 54.0% | $942.7M | 39.1% |
| 2022 | $2.37B | +79.0% | $1.15B | 48.6% | $737.4M | 31.1% |
| 2021 | $1.32B | +192.9% | $556.7M | 42.1% | $238.9M | 18.1% |
| 2020 | $451.6M | +138.8% | $125.3M | 27.7% | $-155,358,000 | -34.4% |
| 2019 | $189.1M | +68.4% | $-21,133,000 | -11.2% | $-187,275,000 | -99.0% |
| 2018 | $112.3M | +15.5% | $7.0M | 6.2% | $-58,488,000 | -52.1% |
| 2017 | $97.3M | +354.6% | $11.1M | 11.4% | $-24,990,000 | -25.7% |
| 2016 | $21.4M | - | $-6,557,000 | -30.6% | $-27,058,000 | -126.5% |
See NFE's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs NFE Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare NFE vs GEV
Side-by-side business, growth, and profitability comparison vs GE Vernova Inc..
Start ComparisonNFE — Frequently Asked Questions
Quick answers to the most common questions about buying NFE stock.
Is NFE's revenue growth accelerating or slowing?
NFE revenue declined -40.4% year-over-year, contrasting with the 5-year CAGR of +27.2%. TTM revenue fell to $1.5B. This reverses the prior growth trend.
What is NFE's long-term revenue growth rate?
New Fortress Energy Inc.'s 5-year revenue CAGR of +27.2% reflects the variable expansion pattern. Current YoY growth of -40.4% is below this long-term average.
How is NFE's revenue distributed by segment?
NFE reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2016-2025 are available for download. Segment mix reveals concentration and diversification trends.