tickdelta
tickdelta
Sign in

Tickdelta is free for now. Sign up and get Pro free

← Screener

EQTEQT Corporation

Energy · Oil & Gas Production · NYSE
EQT quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 63.9%, free cash flow up to $2.8B

XBRL, from each 10-K
RevenueStatements ↓
$8.6B
from $5.3B in FY2024
FY2016FY2025
Net incomeStatements ↓
$2.0B
from $230.6M in FY2024
FY2016FY2025
Free cash flowStatements ↓
$2.8B
from $573.3M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$3.31
from $0.45 in FY2024
FY2016FY2025
Operating marginStatements ↓
37.6%
from 13.0% in FY2024
FY2016FY2025
Total debtStatements ↓
$7.8B
from $9.3B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (40, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)4.22Sales (ttm)9.3BNet income (ttm)2.7BSales growth+63.9%EPS growth+636%Sales Q/Q-9.6%
Free cash flow3.8BGross margin83.5%Oper. margin41.8%Net margin28.4%FCF margin40.7%ROE10.4%
ROA6.4%R&D / sales-Dividend0.64Debt/Eq0.22Curr. ratio0.71Cash78.7M
Op. cash flow (ttm)6.3BEBITDA5.9BEBITDA margin67.7%Net debt5.5BQuick ratio0.71Interest cover7.41
ROIC8.2%Payout ratio19.3%Tax rate21.9%Stock pay / sales0.7%Shares out.625.5MShares Y/Y+19.7%
Book / share40.71Cash / share0.13Sales / share14.94Asset turnover0.23Days sales out.62Sales 3Y CAGR-10.6%
Sales 5Y CAGR+23.1%EPS 3Y CAGR-8.9%Employees1,523Sales / employee6.1M

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Free cash flow rose 395%$573.3M → $2.8B · Cash from operations − capital expenditure · 10-K ↗
  • Revenue growth sped up to +63.9%-23.7% → +63.9% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Operating margin widened to 37.6%13.0% → 37.6% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

EQT against Energy peers

Ten years, side by side → · All 21 →
GrowthProfitBalanceCleanInsiders
EQTPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 21 companies, the better end on the right. Hover a dot for the company.

Sales growth
+63.9%2nd of 21 · median -0.3%
Net margin
28.4%3rd of 21 · median 13.5%
Return on equity
10.4%18th of 21 · median 17.4%
Free cash flow margin
40.7%1st of 14 · median 12.1%
Debt / equity (less is better)
0.223rd of 20 · median 0.41
EQT and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
EQT EQT Corporation$9.3B +63.9%83.5%28.4%10.4%40.7%0.22
TRGP Targa Resources$18.2B +3.9%41.8%13.5%64.1%5.1%5.20
WMB Williams Companies$15.4B +17.9%-19.9%23.3%-0.7%2.33
EXE Expand Energy$13.9B +186%-19.8%14.1%18.6%0.24
APA APA Corporation$9.9B -10.6%-21.9%30.2%-0.46
TPL Texas Pacific Land Corporation$967.8M +13.1%-60.7%32.6%--
Where each dollar goes

From $12.1B of sales to $1.8B of profit

FY2022, from the 10-K income statement
Revenue to Gross profit: $10.0BRevenue to Cost of revenue: $2.1BGross profit to Operating profit: $2.7BGross profit to Operating expenses: $7.3BOperating profit to Net profit: $1.8BOperating profit to Tax & other: $947.0M Revenue: $12.1B Revenue$12.1B +78% Y/Y Gross profit: $10.0B · 83% margin Gross profit$10.0B83% margin Cost of revenue: $2.1B · 17% of revenue Cost of revenue$2.1B17% of revenue Operating profit: $2.7B · 22% margin Operating profit$2.7B22% margin Operating expenses: $7.3B · 60% of revenue Operating expenses$7.3B60% of revenue Net profit: $1.8B · 15% margin Net profit$1.8B15% margin Tax & other: $947.0M · 8% of revenue Tax & other$947.0M8% of revenue

Swipe sideways for the whole flow →

From $6.9B of sales to $1.7B of profit

FY2023, from the 10-K income statement
Revenue to Gross profit: $4.8BRevenue to Cost of revenue: $2.2BGross profit to Operating profit: $2.3BGross profit to Operating expenses: $2.4BOperating profit to Net profit: $1.7BOperating profit to Tax & other: $579.2M Revenue: $6.9B Revenue$6.9B −43% Y/Y Gross profit: $4.8B · 69% margin Gross profit$4.8B69% margin Cost of revenue: $2.2B · 31% of revenue Cost of revenue$2.2B31% of revenue Operating profit: $2.3B · 33% margin Operating profit$2.3B33% margin −15% Y/Y Operating expenses: $2.4B · 35% of revenue Operating expenses$2.4B35% of revenue Net profit: $1.7B · 25% margin Net profit$1.7B25% margin −2% Y/Y Tax & other: $579.2M · 8% of revenue Tax & other$579.2M8% of revenue

Swipe sideways for the whole flow →

From $5.3B of sales to $230.6M of profit

FY2024, from the 10-K income statement
Revenue to Gross profit: $3.4BRevenue to Cost of revenue: $1.9BGross profit to Operating profit: $685.3MGross profit to Operating expenses: $2.7BOperating profit to Net profit: $230.6MOperating profit to Tax & other: $454.7M Revenue: $5.3B Revenue$5.3B −24% Y/Y Gross profit: $3.4B · 64% margin Gross profit$3.4B64% margin Cost of revenue: $1.9B · 36% of revenue Cost of revenue$1.9B36% of revenue Operating profit: $685.3M · 13% margin Operating profit$685.3M13% margin −70% Y/Y Operating expenses: $2.7B · 51% of revenue Operating expenses$2.7B51% of revenue Net profit: $230.6M · 4% margin Net profit$230.6M4% margin −87% Y/Y Tax & other: $454.7M · 9% of revenue Tax & other$454.7M9% of revenue

Swipe sideways for the whole flow →

From $8.6B of sales to $2.0B of profit

FY2025, from the 10-K income statement
Revenue to Gross profit: $7.1BRevenue to Cost of revenue: $1.5BGross profit to Operating profit: $3.2BGross profit to Operating expenses: $3.9BOperating profit to Net profit: $2.0BOperating profit to Tax & other: $1.2B Revenue: $8.6B Revenue$8.6B +64% Y/Y Gross profit: $7.1B · 82% margin Gross profit$7.1B82% margin Cost of revenue: $1.5B · 18% of revenue Cost of revenue$1.5B18% of revenue Operating profit: $3.2B · 38% margin Operating profit$3.2B38% margin +374% Y/Y Operating expenses: $3.9B · 45% of revenue Operating expenses$3.9B45% of revenue Net profit: $2.0B · 24% margin Net profit$2.0B24% margin +784% Y/Y Tax & other: $1.2B · 14% of revenue Tax & other$1.2B14% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

1 of 3
  • ✓
    Net margin above the peer median28.4% vs 13.5%
  • !
    Return on equity below 15%10.4%
  • !
    A profit in 5 of 10 years
Net margin, FY2016 to FY2025: -28.2% → 23.6%

Balance sheet

3 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 7.4× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.22 on the latest balance sheet (peer median 0.41)
  • !
    Current ratio below 1Current ratio 0.71
  • ✓
    Net debt under 3 years of free cash flow$5.5B net debt, 1.4 years
Debt / equity at each year end, FY2016 to FY2025: 0.56 → 0.33

Cash and shareholders

2 of 4
  • !
    Free cash flow positive in 9 of 10 years$2.8B last year
  • !
    Share count up over 5 years+136.3%
  • ✓
    Dividend per share up over 5 years$0.03 → $0.64
  • ✓
    Cash from operations above net income$5.1B vs $2.0B
Free cash flow, FY2016 to FY2025: 121.5M → 2.8B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Revenue and net income, FY2016 to FY2025

Revenue 8.6B Net income 2.0B
FY2016 revenue 1.6B · OilAndGasRevenue, 0000033213-18-000003 FY2016 net income -453.0M · NetIncomeLoss, 0000033213-19-000006 1.6B FY2016 FY2017 revenue 3.4B · OilAndGasRevenue, 0000033213-18-000003 FY2017 net income 1.5B · NetIncomeLoss, 0000033213-20-000008 3.4B FY2017 FY2018 revenue 4.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000033213-21-000006 FY2018 net income -2.2B · NetIncomeLoss, 0000033213-21-000006 4.7B FY2018 FY2019 revenue 4.4B · Revenues, 0000033213-22-000007 FY2019 net income -1.2B · NetIncomeLoss, 0000033213-22-000007 4.4B FY2019 FY2020 revenue 3.1B · Revenues, 0000033213-23-000008 FY2020 net income -958.8M · NetIncomeLoss, 0000033213-23-000008 3.1B FY2020 FY2021 revenue 6.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000033213-24-000008 FY2021 net income -1.1B · NetIncomeLoss, 0000033213-24-000008 6.8B FY2021 FY2022 revenue 12.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000033213-24-000008 FY2022 net income 1.8B · NetIncomeLoss, 0000033213-25-000011 12.1B FY2022 FY2023 revenue 6.9B · Revenues, 0000033213-26-000018 FY2023 net income 1.7B · NetIncomeLoss, 0000033213-26-000018 6.9B FY2023 FY2024 revenue 5.3B · Revenues, 0000033213-26-000018 FY2024 net income 230.6M · NetIncomeLoss, 0000033213-26-000018 5.3B FY2024 FY2025 revenue 8.6B · Revenues, 0000033213-26-000018 FY2025 net income 2.0B · NetIncomeLoss, 0000033213-26-000018 8.6B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

EQT's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue8.6B
FY2016: 1.6BFY2017: 3.4BFY2018: 4.7BFY2019: 4.4BFY2020: 3.1BFY2021: 6.8BFY2022: 12.1BFY2023: 6.9BFY2024: 5.3BFY2025: 8.6B FY2017FY2019FY2021FY2023FY2025
Net income2.0B
FY2016: -453.0MFY2017: 1.5BFY2018: -2.2BFY2019: -1.2BFY2020: -958.8MFY2021: -1.1BFY2022: 1.8BFY2023: 1.7BFY2024: 230.6MFY2025: 2.0B FY2017FY2019FY2021FY2023FY2025
Free cash flow2.8B
FY2016: 121.5MFY2017: 78.6MFY2018: -22.8MFY2019: 249.2MFY2020: 495.5MFY2021: 607.3MFY2022: 2.1BFY2023: 1.2BFY2024: 573.3MFY2025: 2.8B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)3.31
FY2016: -2.71FY2017: 8.04FY2018: -8.60FY2019: -4.79FY2020: -3.68FY2021: -3.54FY2022: 4.38FY2023: 4.22FY2024: 0.45FY2025: 3.31 FY2017FY2019FY2021FY2023FY2025
Dividend per share0.64
FY2016: 0.12FY2017: 0.12FY2018: 0.12FY2019: 0.12FY2020: 0.03FY2021: -FY2022: 0.55FY2023: 0.61FY2024: 0.63FY2025: 0.64 FY2017FY2019FY2021FY2023FY2025
Diluted shares615.7M
FY2016: 167.0MFY2017: 187.7MFY2018: 260.9MFY2019: 255.1MFY2020: 260.6MFY2021: 323.2MFY2022: 406.5MFY2023: 413.2MFY2024: 514.6MFY2025: 615.7M FY2017FY2019FY2021FY2023FY2025

The segments changed

10-K filed 2026-02-18

Compared with the 10-K of Feb 19, 2025: new segment Upstream; no longer reported: Production.

(b) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast for our change in reportable segments from one reportable segment to three reportable segments as the necessary information was not available and the cost to develop such information would be excessive. 10-K

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Upstream 8.0B92.8% +60.2%
Gathering 1.3B15.1% +73.6%
Transmission 572.3M6.6% +162%

10-K 0000033213-26-000018, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Revenues From Contract With Customers 8.3B96.6% +60.1%
Sales Of Natural Gas NG Ls And Oil At Production 7.7B89.4% +56.6%
Sales of natural gas, natural gas liquids and oil 7.7B89.4% +56.6%

10-K 0000033213-26-000018, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue1.6B3.4B4.7B4.4B3.1B6.8B12.1B6.9B5.3B8.6B
Cost of revenue880.2M1.2B1.7B1.8B1.7B1.9B2.1B2.2B1.9B1.5B
SG&A218.9M209.0M232.5M170.6M174.8M196.3M252.6M236.2M336.7M380.1M
Operating income-755.0M382.2M-2.8B-1.2B-877.7M-1.4B2.7B2.3B685.3M3.2B
Interest expense131.2M168.0M229.0M199.9M259.3M289.8M249.7M219.7M454.8M438.7M
Pretax income-894.3M198.6M-3.1B-1.6B-1.3B-1.6B2.3B2.1B264.2M3.0B
Income tax-362.8M-1.2B-696.5M-375.8M-295.3M-428.0M553.7M369.0M22.1M651.9M
Net income-453.0M1.5B-2.2B-1.2B-958.8M-1.1B1.8B1.7B230.6M2.0B
EPS (diluted)-2.718.04-8.60-4.79-3.68-3.544.384.220.453.31
Diluted shares167.0M187.7M260.9M255.1M260.6M323.2M406.5M413.2M514.6M615.7M
Depreciation & amortization856.5M971.0M1.6B1.5B1.4B1.7B1.7B1.7B2.2B2.6B
EBITDA101.4M1.4B-1.2B386.6M515.8M315.7M4.4B4.0B2.8B5.9B
Operating margin-46.9%11.3%-59.1%-26.1%-28.7%-20.0%22.4%33.5%13.0%37.6%
Net margin-28.2%44.7%-47.7%-27.7%-31.3%-16.8%14.6%25.1%4.4%23.6%
Revenue growth-+110%+39.4%-6.2%-30.7%+122%+78.0%-43.0%-23.7%+63.9%
EPS growth---207%-----3.7%-89.3%+636%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash1.1B26.3M3.5M4.6M18.2M114.0M1.5B81.0M202.1M110.8M
Receivables341.6M664.7M1.2B610.1M566.6M1.4B1.6B823.7M1.1B1.5B
Current assets1.8B1.2B2.0B1.8B1.2B2.3B4.0B2.0B1.7B1.9B
Property & equipment13.2B19.7B17.4B16.2B16.1B18.4B18.2B23.0B31.7B33.6B
Goodwill0470.8M0----02.1B2.1B
Total assets15.5B29.5B20.7B18.8B18.1B21.6B22.7B25.3B39.8B41.8B
Accounts payable310.0M726.4M1.1B796.4M705.5M1.3B1.6B1.3B1.2B1.4B
Current liabilities804.6M1.2B2.4B1.3B1.8B5.2B3.7B2.0B2.5B2.5B
Total debt3.3B4.7B4.7B5.3B5.1B5.6B5.7B5.8B9.3B7.8B
Total liabilities6.4B11.1B9.8B9.0B8.9B11.6B11.5B10.5B15.6B14.4B
Shareholders' equity5.9B13.3B11.0B9.8B9.2B10.0B11.2B14.8B20.6B23.8B
Retained earnings2.5B4.0B3.2B2.0B1.1B-94.4M1.3B2.7B2.6B4.2B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow1.1B1.6B3.0B1.9B1.5B1.7B3.5B3.2B2.8B5.1B
Capital spending942.8M1.6B3.0B1.6B1.0B1.1B1.4B2.0B2.3B2.3B
Free cash flow121.5M78.6M-22.8M249.2M495.5M607.3M2.1B1.2B573.3M2.8B
Stock-based pay (added back)44.6M94.6M25.2M31.2M19.6M28.2M45.2M49.8M158.3M60.8M
Dividends paid20.2M20.8M31.4M30.7M7.7M0203.6M228.3M326.6M389.6M
Buybacks30K30K27K0012.9M409.5M201.0M00
Acquisitions02.4B00691.9M1.0B205.3M2.3B874.3M483.5M
Debt raised500.0M001.0B2.6B1.0B1.0B---
Debt repaid5.1M2.0B8.4M704.7M2.8B154.3M917.0M1.0B4.3B1.4B
Investing cash flow-2.9B-4.2B-4.0B-1.6B-1.6B-2.1B-1.4B-4.3B-1.6B-2.8B
Financing cash flow1.4B1.5B859.0M-249.5M31.7M506.0M-699.1M-242.9M-1.1B-2.4B
Dividend per share0.120.120.120.120.03-0.550.610.630.64

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)44.6M94.6M25.2M31.2M19.6M28.2M45.2M49.8M158.3M60.8M
Stock-based pay / revenue2.8%2.8%0.5%0.7%0.6%0.4%0.4%0.7%3.0%0.7%
Operating lease cost---57.5M28.3M19.8M19.9M26.8M42.0M43.0M
Operating lease cash paid---10.8M10.4M9.7M10.3M10.1M13.6M21.2M
Finance lease principal paid-----1.1M1.8M2.3M4.2M6.3M
Right-of-use assets--89.0M52.2M21.6M26.1M29.2M42.3M60.5M74.1M
Operating lease liabilities--89.0M59.0M49.9M52.7M48.0M58.6M65.7M78.4M
Finance lease liabilities--------34.9M37.1M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Next Peers in numbers →