Latest Ratios: P/E Ratio 13.0x · EV/EBITDA 10.0x · ROE 32.4%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $27.2B | $18.0B | — | — | — |
| Enterprise Value | $59.8B | $50.5B | — | — | — |
| P/E Ratio → | 12.97 | 7.93 | — | — | — |
| P/S Ratio | 1.98 | 1.31 | — | — | — |
| P/B Ratio | 2.85 | 1.74 | — | — | — |
| P/FCF | — | — | — | — | — |
| P/OCF | 4.15 | 2.74 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 3.67 | — | — | — |
| EV / EBITDA | 10.00 | 8.45 | — | — | — |
| EV / EBIT | 11.87 | 10.04 | — | — | — |
| EV / FCF | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 49.3% | 49.3% | 66.4% | 78.7% | 65.1% |
| Operating Margin | 36.6% | 36.6% | 35.5% | 61.4% | 55.1% |
| Net Profit Margin | 19.6% | 19.6% | 31.0% | 33.9% | 28.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 32.4% | 32.4% | 36.5% | 206.7% | 365.0% |
| ROA | 5.6% | 5.6% | 4.3% | 12.3% | 12.3% |
| ROIC | 10.0% | 10.0% | 5.2% | 24.9% | 24.6% |
| ROCE | 11.3% | 11.3% | 5.3% | 24.6% | 26.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 3.39 | 3.39 | 4.68 | 10.15 | 21.50 |
| Debt / EBITDA | 5.84 | 5.84 | 14.30 | 4.13 | 2.95 |
| Net Debt / Equity | — | 3.16 | 4.12 | 7.84 | 20.29 |
| Net Debt / EBITDA | 5.45 | 5.45 | 12.57 | 3.19 | 2.78 |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | 3.46 | 3.46 | 4.74 | 7.91 | 6.99 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 0.93 | 0.93 | 1.29 | 2.57 | 0.81 |
| Quick Ratio | 0.87 | 0.87 | 1.24 | 2.56 | 0.79 |
| Cash Ratio | 0.54 | 0.54 | 1.02 | 2.08 | 0.35 |
| Asset Turnover | — | 0.26 | 0.11 | 0.28 | 0.43 |
| Inventory Turnover | 27.59 | 27.59 | 9.78 | 38.27 | 86.58 |
| Days Sales Outstanding | — | 24.34 | 26.72 | 12.25 | 10.76 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 2.6% | — | — | — |
| Payout Ratio | 17.2% | 17.2% | 9.0% | 6.1% | 0.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 7.7% | 12.6% | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 1.6% | 2.6% | — | — | — |
| Shares Outstanding | — | $2.6B | $2.4B | $2.6B | $2.6B |
Regulatory and contract litigation
According to current market data, Venture Global trades at a forward P/E of 7.44, which appears to discount the volatility of its commissioning-phase earnings compared to the 10.01 P/E multiple commanded by established peer Cheniere Energy, suggesting investors remain skeptical of long-term margin sustainability.
The valuation gap relative to Cheniere suggests the market is applying a significant discount for the regulatory risks surrounding the CP2 project and the ongoing legal disputes with key counterparties. While the forward multiple appears attractive, it may be predicated on optimistic assumptions regarding the transition from spot-market volatility to stable, long-term contract-based cash flows.
Based on reported figures, Venture Global's ROIC has struggled to maintain momentum, fluctuating between 0.8% and 5.7% over the last ten quarters, which indicates that the company is currently failing to generate returns that exceed the typical cost of capital for large-scale energy infrastructure projects.
The low ROIC is a direct consequence of the massive capital intensity required for modular liquefaction construction, where assets are brought online in phases. Until these facilities reach full utilization and the company shifts away from high-cost commissioning, the return on invested capital will likely remain suppressed compared to mature midstream operators.
As reported in financial statements, the company's cash conversion cycle has exhibited extreme swings, ranging from -325 days to 1 day, reflecting the irregular timing of cargo deliveries and the unique nature of pre-commercial revenue recognition compared to traditional industry peers.
The erratic CCC suggests that working capital management is currently secondary to the operational priority of completing and commissioning liquefaction trains. Investors should monitor whether these metrics stabilize as the company moves toward a more predictable, contract-driven operational model, as current figures are heavily distorted by the timing of spot-market sales.
Based on recent filings, the company's interest coverage ratio has been highly inconsistent, dropping to -1.91 in 2024Q3 and recovering to 2.69 by 2026Q1, which highlights the precarious nature of debt serviceability during periods of heavy infrastructure investment and fluctuating global gas spreads.
The reliance on external financing to fund massive capital expenditures has led to a volatile debt-to-EBITDA profile, which warrants caution given the company's exposure to regulatory and legal headwinds. The current coverage levels appear inadequate for a company with such high fixed-cost obligations, suggesting that refinancing risk remains a material concern.
The P/E ratio is frequently misapplied to Venture Global's business model, as it fails to account for the non-recurring nature of commissioning-phase spot sales that currently inflate net income and obscure the underlying economics of the company's long-term take-or-pay contract structure.
Analysts should prioritize EV/EBITDA or project-level IRR metrics, as these better capture the capital-intensive nature of the business and the long-term value of the liquefaction infrastructure. Relying on P/E ignores the significant accounting distortions caused by the transition from pre-commercial operations to steady-state contract revenue.
Includes 30+ ratios · 4 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying VG stock.
Venture Global, Inc.'s current P/E ratio is 13.0x. The historical average is 7.9x. This places it at the 100th percentile of its historical range.
Venture Global, Inc.'s current EV/EBITDA is 10.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.5x.
Venture Global, Inc.'s return on equity (ROE) is 32.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 160.2%.
Based on historical data, Venture Global, Inc. is trading at a P/E of 13.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Venture Global, Inc.'s current dividend yield is 1.58% with a payout ratio of 17.2%.
Venture Global, Inc. has 49.3% gross margin and 36.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Venture Global, Inc.'s Debt/EBITDA ratio is 5.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.