EQTNYSECrude Petroleum & Natural GasFiscal year ends December 31
EQT Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 22, 2026
$54.42+0.12 (+0.22%)
Close on Oct 19, 2026
- Market cap
- $34.23B
- P/E (TTM)
- 12.6
- Dividend yield
- 1.17%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
82.3%+38.2 pts over 5 years
Operating margin
37.6%+66.3 pts over 5 years
Net margin
23.6%+54.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +63.9% | +4.9% | +23.1% | – | |
| Gross profit | +111.8% | +9.7% | +39.5% | – | |
| Operating income | +374.2% | +6.1% | – | +19.2% | |
| Net income | +784.4% | +4.8% | – | +37.4% | |
| EPS, diluted | +635.6% | -8.9% | – | +19.4% | |
| Free cash flow | +395.0% | +11.2% | +41.8% | – | |
| Dividend per share | +1.2% | +5.0% | +84.3% | +18.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -8.3% | -10.1% | 9.2% | |
| Return on assets | -3.1% | -5.2% | 5.0% | |
| Current ratio | 2.27 | 0.69 | 0.76 | |
| Debt to equity | 0.56 | 0.53 | 0.33 | |
| Net debt to EBITDA | 20.81× | 9.51× | 1.31× | |
| Interest coverage | -5.8× | -3.4× | 7.4× | |
| Capex to revenue | 68.0% | 34.1% | 26.5% | |
| Diluted shares | 167M | 261M | 616M |
Where the cash went
Fiscal 2021 to 2025, five years combined
EQT generated $16.26B from operations and spent $10.79B on capital expenditure, dividends and share buybacks. 84% of that went back into the business.
Generated
$16.26B
Used
$10.79B
Capital expenditure$9.02B84%Dividends$1.15B11%Share buybacks$623.44M6%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin23.6%
×Asset turnover0.21×
×Equity multiplier1.84×
=Return on equity, FY20259.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 23.6% | 0.21× | 1.84× | 9.2% |
| FY2024 | 4.4% | 0.16× | 1.84× | 1.3% |
| FY2023 | 25.1% | 0.29× | 1.85× | 13.4% |
| FY2022 | 23.6% | 0.34× | 2.10× | 16.8% |
| FY2021 | -37.3% | 0.15× | 2.07× | -11.9% |
| FY2020 | -31.3% | 0.17× | 1.94× | -10.1% |
| FY2019 | -27.7% | 0.22× | 1.90× | -11.8% |
| FY2018 | -49.2% | 0.18× | 2.07× | -18.5% |
| FY2017 | 48.8% | 0.14× | 2.35× | 15.7% |
| FY2016 | -32.7% | 0.09× | 2.69× | -8.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.04B
- Cash generatingOperating cash flow above zero$5.13B
- Return on assets improvedROA up on the prior year0.9% → 5.1%
- Earnings backed by cashOperating cash flow above net income$5.13B vs $2.04B
- Less leverageLong-term debt to assets fell22.6% → 17.5%
- Better liquidityCurrent ratio rose0.70 → 0.76
- No dilutionShare count did not rise515M → 616M
- Gross margin improvedGross margin up on the prior year63.67% → 82.28%
- More efficientAsset turnover rose0.21 → 0.22