Financials · EQT

EQT Corporation (EQT) financials

For the twelve months ended Sep 30, 2026, EQT Corporation reported $9.35B of revenue and $2.65B of net income.

Revenue, TTM
$9.35B
Revenue growth, YoY
+18.6%
Net income, TTM
$2.65B
Net income growth, YoY
+49.1%
Net margin
28.4%
Free cash flow, TTM
$3.80B
EPS, diluted, TTM
$4.22
EPS growth, YoY
+42.1%
Cash
$78.72M
Total debt
$5.55B
P/E
11.76
P/S
3.34
Market cap
$31.22B
Annual revenue$8.64B
FY2016FY2025
Annual net income$2.04B
FY2016FY2025
Annual free cash flow$2.84B
FY2016FY2025

EQT revenue and earnings growth

EQT revenueQ3 2026$1.77B

Quarter YoY
-9.6%
QoQ
-2.2%
FY YoY
+63.9%
5Y CAGR
+23.1%

EQT revenue was $1.77B in fiscal Q3 2026 (ended Sep 30, 2026), down 9.6% from a year earlier and down 2.2% from the prior quarter. For the full fiscal 2025 it was $8.64B, up 63.9% from fiscal 2024. Compound annual growth was +23.1% over 5 years. It rose in 5 of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

EQT net incomeQ3 2026$278.69M

Quarter YoY
-17.0%
QoQ
+31.8%
FY YoY
+784.4%
10Y CAGR
+37.4%

EQT net income was $278.69M in fiscal Q3 2026 (ended Sep 30, 2026), down 17.0% from a year earlier and up 31.8% from the prior quarter. For the full fiscal 2025 it was $2.04B, up 784.4% from fiscal 2024. Compound annual growth was +37.4% over 10 years. It rose in 1 of the last 3 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

EQT EPSQ3 2026$0.44

Quarter YoY
-17.0%
QoQ
+29.4%
FY YoY
+635.6%
10Y CAGR
+19.4%

EQT diluted EPS was $0.44 in fiscal Q3 2026 (ended Sep 30, 2026), down 17.0% from a year earlier and up 29.4% from the prior quarter. For the full fiscal 2025 it was $3.31, up 635.6% from fiscal 2024. Compound annual growth was +19.4% over 10 years.

EQT free cash flowQ3 2026$435.86M

Quarter YoY
+11.4%
QoQ
+9.6%
FY YoY
+395.0%
5Y CAGR
+41.8%

EQT free cash flow was $435.86M in fiscal Q3 2026 (ended Sep 30, 2026), up 11.4% from a year earlier and up 9.6% from the prior quarter. For the full fiscal 2025 it was $2.84B, up 395.0% from fiscal 2024. Compound annual growth was +41.8% over 5 years. It rose in 4 of the last 6 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$8.64B$5.27B$6.91B$7.50B$6.80B$3.06B$4.42B$4.71B$3.09B$1.39B
Cost of revenue$1.53B$1.92B$2.16B$2.12B$1.94B$1.71B$1.75B$1.70B$1.16B$880.19M
Gross profit$7.11B$3.36B$4.75B$5.38B$4.86B$1.35B$2.66B$3.01B$1.93B$506.86M
Selling, general and admin$380.07M$336.72M$236.17M$252.65M$196.31M$174.77M$170.61M$232.54M$208.99M$218.95M
Operating income$3.25B$685.30M$2.31B$2.72B-$1.36B-$877.67M-$1.15B-$2.78B$382.21M-$755.03M
Interest expense$438.69M$454.82M$219.66M$249.66M$289.75M$259.27M$199.85M$228.96M$167.97M$131.16M
Pre-tax income$2.98B$264.19M$2.10B$2.33B-$1.57B-$1.25B-$1.60B-$3.08B$198.61M-$894.26M
Income tax$651.88M$22.08M$368.95M$553.72M-$428.04M-$295.29M-$375.78M-$696.51M-$1.19B-$362.77M
Net income$2.04B$230.58M$1.74B$1.77B-$1.14B-$958.80M-$1.22B-$2.24B$1.51B-$452.98M
EPS, basic$3.33$0.45$4.56$4.79-$3.54-$3.68-$4.79-$8.60$8.05-$2.71
EPS, diluted$3.31$0.45$4.22$4.38-$3.54-$3.68-$4.79-$8.60$8.04-$2.71
Diluted shares615.7M514.6M413.2M406.5M323.2M260.6M255.1M260.9M187.7M167.0M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$110.80M$202.09M$80.98M$1.46B$113.96M$18.21M$4.60M$3.49M$147.31M$1.18B
Receivables$1.46B$1.13B$823.70M$1.61B$1.44B$566.55M$610.09M$1.24B$664.68M$341.63M
Current assets$1.90B$1.71B$2.01B$4.01B$2.29B$1.22B$1.75B$1.97B$1.16B$1.83B
Goodwill$2.06B$2.08B$0----$0$470.85M$0
Total assets$41.79B$39.83B$25.29B$22.67B$21.61B$18.11B$18.81B$20.72B$29.52B$15.47B
Current liabilities$2.48B$2.46B$2.04B$3.73B$5.19B$1.76B$1.35B$2.36B$1.23B$804.64M
Short-term debt$507.12M$320.80M$292.43M$422.63M$1.06B$154.16M$16.20M$704.39M$12.41M$0
Long-term debt$7.29B$9.00B$5.50B$5.26B$4.53B$4.77B$5.28B$3.99B$4.69B$3.29B
Total debt$7.80B$9.32B$5.80B$5.68B$5.59B$4.93B$5.29B$4.70B$4.70B$3.29B
Total liabilities$14.43B$15.55B$10.50B$11.46B$11.64B$8.85B$9.01B$9.76B$11.11B$6.35B
Shareholders' equity$23.75B$24.28B$14.78B$11.21B$9.97B$9.17B$9.80B$10.96B$18.41B$9.12B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$5.13B$2.83B$3.18B$3.47B$1.66B$1.54B$1.85B$2.98B$1.64B$1.06B
Capital expenditures$2.29B$2.25B$2.02B$1.40B$1.06B$1.04B$1.60B$3.00B$1.56B$942.81M
Free cash flow$2.84B$573.26M$1.16B$2.07B$607.32M$495.47M$249.25M-$22.78M$78.65M$121.51M
Investing cash flow-$2.84B-$1.58B-$4.31B-$1.42B-$2.07B-$1.56B-$1.60B-$3.98B-$4.20B-$2.89B
Financing cash flow-$2.37B-$1.13B-$242.86M-$699.13M$506.05M$31.71M-$249.45M$859.02M$1.53B$1.40B
Dividends paid$389.63M$326.58M$228.34M$203.63M$0$7.66M$30.66M$31.38M$20.83M$20.16M
Share repurchases$0$0$201.03M$409.49M$12.92M$0$0$27.0K$30.0K$30.0K
Stock-based compensation$60.78M$158.34M$49.83M$45.20M$28.17M$19.55M$31.23M$25.19M$94.59M$44.60M
Depreciation and amortization$2.60B$2.16B$1.73B$1.67B$1.68B$1.39B$1.54B$1.57B$970.99M$856.45M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY63.9%-23.7%-7.9%10.2%122.4%-30.7%-6.2%52.4%122.8%-
Net income growth, YoY784.4%-86.7%-2.0%-------
EPS growth, YoY635.6%-89.3%-3.7%-------
Gross margin82.3%63.7%68.8%71.8%71.5%44.1%60.3%64.0%62.3%36.5%
Operating margin37.6%13.0%33.5%36.3%-20.0%-28.7%-26.1%-59.1%12.4%-54.4%
Net margin23.6%4.4%25.1%23.6%-16.8%-31.3%-27.7%-47.7%48.8%-32.7%
Free cash flow margin32.8%10.9%16.8%27.5%8.9%16.2%5.6%-0.5%2.5%8.8%
Return on equity8.6%0.9%11.7%15.8%-11.5%-10.5%-12.5%-20.5%8.2%-5.0%
Return on assets4.9%0.6%6.9%7.8%-5.3%-5.3%-6.5%-10.8%5.1%-2.9%
Current ratio0.760.700.991.080.440.691.300.840.942.27
Debt to equity0.330.380.390.510.560.540.540.430.260.36

Source: XBRL data EQT Corporation files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

EQT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
EQT$9.35B+18.6%$2.65B28.4%$31.22B
SHEL$273.73B-5.3%$17.84B6.5%$273.51B
TTE$201.20B-6.2%$13.13B6.5%$192.00B
PBR$89.19B-2.4%$19.63B22.0%$118.25B
CNQC$38.76B+8.7%C$10.82B27.9%$98.26B
E€82.15B-7.5%€2.61B3.2%$87.98B
EOG$29.73B+31.7%$8.19B27.5%$76.96B
OXY$25.75B+36.9%$7.50B29.1%$55.74B
OKE$43.19B+36.8%$4.07B9.4%$54.21B

EQT FAQ

9 questions
  • What is EQT revenue?
    EQT Corporation (EQT) reported $9.35B of revenue for the twelve months ended Sep 30, 2026. That is up 18.6% from the year before. Revenue for fiscal 2025 was $8.64B.
  • Is EQT profitable?
    Yes. EQT Corporation earned $2.65B in net income for the twelve months ended Sep 30, 2026, a net margin of 28.4%.
  • How much cash and debt does EQT have?
    EQT Corporation reported $78.72M in cash and cash equivalents and $5.55B of debt on its most recent balance sheet in SEC filings.
  • How fast is EQT revenue growing?
    EQT Corporation's revenue changed +63.9% in fiscal 2025, to $8.64B. Its compound annual growth rate was +23.1% over 5 years.
  • What is EQT gross margin?
    EQT Corporation's gross profit was $7.80B on $9.35B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 83.5%.
  • What is EQT free cash flow?
    EQT Corporation generated $3.80B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $6.31B less capital expenditures.
  • What is EQT earnings per share?
    Diluted earnings per share were $4.22 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did EQT last report financial results?
    The latest statements here come from EQT Corporation's 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
  • Where does this EQT financial data come from?
    Quantisnow builds these statements from the structured XBRL data EQT Corporation files with the SEC. It is provided for information only and is not investment advice.