EQT (EQT Corporation) Stock Financials & Earnings | Market Cap Arena

EQT (EQT Corporation) Stock Financials & Earnings | Market Cap Arena

EQTEQT Corporation

Mkt Cap$39B

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NYSE

Revenue (TTM)$9.1B

Net Income (TTM)$2.0B

EPS (TTM)$3.31

Free Cash Flow (TTM)$2.8B

Gross Margin48.9%

Op. Margin34.7%

Net Margin22.5%

FCF Margin31.4%

P/S Ratio (TTM)4.3x

P/E Ratio (TTM)19.0x

YoY Rev Growth+73.7%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$1.8B	$1.4B	$1.6B
Q2 23	$854M	$404M	-$35M
Q3 23	$1.0B	$498M	$16M
Q4 23	$1.4B	$785M	$723M
Q1 24	$1.3B	$728M	$183M
Q2 24	$891M	-$206M	$3M
Q3 24	$1.2B	$93M	-$282M
Q4 24	$1.8B	$697M	$781M
Q1 25	$2.4B	$1.3B	$496M
Q2 25	$2.6B	$1.4B	$1.1B
Q3 25	$1.8B	$659M	$603M
Q4 25	$2.3B	$1.0B	$915M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.4x	8.6x
Q2 23	4.3x	10.9x
Q3 23	6.2x	13.2x
Q4 23	7.6x	22.3x
Q1 24	8.5x	62.5x
Q2 24	8.5x	55.7x
Q3 24	8.1x	123.4x
Q4 24	7.4x	168.1x
Q1 25	6.1x	105.0x
Q2 25	4.8x	33.9x
Q3 25	4.5x	21.8x
Q4 25	4.3x	19.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1.7B	$1.2B
Q2 23	$437M	-$50M
Q3 23	$455M	-$50M
Q4 23	$624M	$91M
Q1 24	$1.2B	$621M
Q2 24	$322M	-$236M
Q3 24	$593M	$24M
Q4 24	$756M	$165M
Q1 25	$1.7B	$1.2B
Q2 25	$1.2B	$692M
Q3 25	$1.0B	$391M
Q4 25	$1.1B	$521M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$495M
Q2 23	$487M
Q3 23	$504M
Q4 23	$533M
Q1 24	$534M
Q2 24	$558M
Q3 24	$569M
Q4 24	$592M
Q1 25	$500M
Q2 25	$550M
Q3 25	$626M
Q4 25	$604M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-26.5%	-94.9%
Q2 23	-74.7%	-55.8%
Q3 23	-72.7%	-64.2%
Q4 23	-46.7%	+156.4%
Q1 24	-28.9%	+398.4%
Q2 24	+4.3%	-0.1%
Q3 24	+20.7%	+51.0%
Q4 24	+31.9%	+58.3%
Q1 25	+85.2%	+71.2%
Q2 25	+187.0%	+60.3%
Q3 25	+49.8%	-18.6%
Q4 25	+25.8%	+32.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$11M	0.6%
Q2 23	$12M	1.4%
Q3 23	$15M	1.5%
Q4 23	$12M	0.8%
Q1 24	$11M	0.8%
Q2 24	$12M	1.4%
Q3 24	$119M	9.8%
Q4 24	$17M	0.9%
Q1 25	$15M	0.6%
Q2 25	$14M	0.5%
Q3 25	$15M	0.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 23	$52M
Q2 23	$60M
Q3 23	$57M
Q4 23	$67M
Q1 24	$73M
Q2 24	$67M
Q3 24	$88M
Q4 24	$108M
Q1 25	$91M
Q2 25	$82M
Q3 25	$99M
Q4 25	$108M

Revenue Segments

Quarter	NGLs Sales	Natural Gas Sales	Oil Sales
Q1 23	$99M	$1.7B	$19M
Q2 23	$68M	$766M	$15M
Q3 23	$108M	$860M	$34M
Q2 24	$140M	$731M	$19M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2.1B	$0	$2.1B
Q2 23	$1.2B	$0	$1.2B
Q3 23	$65M	$0	$65M
Q4 23	$81M	$0	$81M
Q1 24	$648M	$0	$648M
Q2 24	$30M	$0	$30M
Q3 24	$89M	$0	$89M
Q4 24	$202M	$0	$202M
Q1 25	$282M	$0	$282M
Q2 25	$555M	$0	$555M
Q3 25	$236M	$0	$236M
Q4 25	$111M	$0	$111M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	394M	-1.6%
Q2 23	362M	-8.1%
Q3 23	416M	+15.0%
Q4 23	445M	+7.0%
Q1 24	445M	-0.1%
Q2 24	445M	-0.0%
Q3 24	560M	+25.8%
Q4 24	603M	+7.7%
Q1 25	603M	+0.1%
Q2 25	603M	+0.0%
Q3 25	628M	+4.2%
Q4 25	625M	-0.6%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$1M	2K
FY 15	$1M	2K
FY 16	$1M	2K
FY 17	$1M	2K
FY 18	$5M	863
FY 19	$6M	647
FY 20	$4M	624
FY 21	$10M	693
FY 22	$16M	744
FY 23	$6M	881
FY 24	$4M	1K
FY 25	$6M	2K