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EQT

EQT Corporation

EQT

EQT Corporation • NYSE
$60.84 ▲ 3.13% (+1.84)
Market Cap $37.97 B
52w High $61.26
52w Low $42.27
Dividend Yield 0.64%
P/E 19.82
Volume 4.65M
Outstanding Shares 624.07M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.823B ▼ $55.76M ▼ $335.862M ▼ 18.426% ▼ $0.54 ▼ $1.335B ▼
Q2-2025 $2.558B ▲ $265.593M ▼ $784.147M ▲ 30.658% ▲ $1.31 ▲ $1.821B ▲
Q1-2025 $2.419B ▲ $835.097M ▲ $242.139M ▼ 10.011% ▼ $0.4 ▼ $1.132B ▼
Q4-2024 $1.808B ▲ $-83.982M ▼ $418.395M ▲ 23.138% ▲ $0.7 ▲ $1.381B ▲
Q3-2024 $1.217B $374.84M $-300.823M -24.719% $-0.54 $345.296M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $235.736M ▼ $41.195B ▲ $14.405B ▼ $23.152B ▲
Q2-2025 $555.492M ▲ $39.667B ▼ $14.569B ▼ $21.423B ▲
Q1-2025 $281.764M ▲ $39.703B ▼ $15.3B ▼ $20.718B ▲
Q4-2024 $202.093M ▲ $39.83B ▼ $15.552B ▼ $20.598B ▲
Q3-2024 $88.98M $39.946B $19.457B $20.335B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $553.004M ▼ $1.018B ▼ $-1.026B ▼ $-311.592M ▼ $-319.756M ▼ $391.297M ▼
Q2-2025 $856.656M ▲ $1.242B ▼ $-663.988M ▼ $-303.983M ▲ $273.728M ▲ $692.059M ▼
Q1-2025 $315.418M ▼ $1.741B ▲ $-534.044M ▼ $-1.127B ▲ $79.671M ▼ $1.242B ▲
Q4-2024 $427.245M ▲ $756.276M ▲ $582.35M ▲ $-1.226B ▼ $113.113M ▲ $164.679M ▲
Q3-2024 $-297.432M $592.989M $-1.283B $749.137M $59.006M $23.51M

Revenue by Products

Product Q3-2023Q4-2023Q2-2024Q4-2024
Oil Sales
Oil Sales
 $30.00M ▲$30.00M ▲$20.00M ▼$4.92Bn ▲
Natural Gas Sales
Natural Gas Sales
 $860.00M ▲$3.66Bn ▲$730.00M ▼$0 ▼
NGLs Sales
NGLs Sales
 $110.00M ▲$150.00M ▲$140.00M ▼$0 ▼

Five-Year Company Overview

Income Statement

Income Statement EQT’s income statement shows how sensitive the business is to natural gas prices. Revenue and profits surged when gas prices were high, then fell back sharply as prices normalized. The company moved from losses a few years ago to strong profits, but the most recent year shows much slimmer earnings and a clear squeeze on margins. Overall, EQT is still profitable, but its earnings are volatile and closely tied to the commodity cycle, even as efficiency gains help cushion the downside compared with the past.

Balance Sheet

Balance Sheet The balance sheet has grown significantly, especially in the most recent year, reflecting acquisitions and ongoing investment in assets. Equity has trended upward over time, suggesting the company is building underlying value rather than eroding it. Debt has also increased, particularly recently, so the company is now carrying a heavier load of borrowings than a few years ago, but this is partly balanced by a larger asset base and stronger franchise. Cash on hand is usually kept lean, which means EQT relies on steady cash generation and access to capital markets rather than a large cash buffer.

Cash Flow

Cash Flow Cash flow is a relative strength. EQT consistently generates solid cash from its operations, even in more challenging price environments. After funding its investment program, it has regularly produced positive free cash flow, though this has come down from peak levels as prices cooled and spending rose. Capital spending is meaningful, showing an ongoing push to develop reserves and infrastructure, but it remains broadly aligned with what the business can fund from its own cash flows. This mix suggests a company that is cash-generative but still in investment mode.

Competitive Edge

Competitive Edge EQT holds a powerful position as the largest natural gas producer in the U.S., anchored in a very productive and low‑cost region. Its scale, operational efficiency, and advanced drilling strategies give it a cost advantage versus many peers. The recent move to vertical integration—owning both production and key midstream infrastructure—deepens its moat by offering customers a one‑stop solution for supply and transport. Its lower‑emissions profile and third‑party certifications further differentiate it in a world that is increasingly focused on cleaner energy. On the risk side, EQT remains heavily exposed to gas price swings, regulatory and permitting uncertainty, and the successful execution of large pipeline and infrastructure projects.

Innovation and R&D

Innovation and R&D Innovation at EQT is centered on technology and process rather than traditional lab-style R&D. The company uses advanced planning, long laterals, and its “combo-development” model to lower costs and reduce the environmental footprint. Digital tools, data analytics, and machine learning are embedded in drilling, logistics, and water management, which helps squeeze more efficiency out of each project. EQT has also invested in emissions reduction technologies and cleaner, electric-powered field equipment, achieving net-zero direct and purchased-power emissions across legacy operations. Strategically, it is pushing into high-growth areas like data center power supply, LNG-related opportunities, and broader energy transition ventures. The key watchpoints are whether it can maintain this technology edge as others catch up and whether large, complex projects for data centers and pipelines are delivered on time and on budget.

Summary

EQT has evolved from a traditional gas producer into a scale, technology, and infrastructure-driven energy platform. Financially, it has moved from losses to consistent profitability, though recent results show how quickly earnings can compress when gas prices fall. The balance sheet has expanded and taken on more debt, but this supports a broader, more integrated asset base. Strong underlying cash generation is a key support for ongoing investment and balance sheet resilience. Competitively, EQT’s low-cost position, vertical integration, and lower-emissions profile give it durable advantages, especially as power-hungry data centers and AI infrastructure seek reliable gas supply. At the same time, the business remains exposed to commodity cycles, regulatory shifts, and project-execution risk. Overall, EQT looks like a scale leader using technology and integration to navigate a volatile market and position itself for long-term demand tied to both traditional energy use and new digital infrastructure.

NEWS

November 13, 2025 · 4:27 PM UTC

EQT completes public offering of common stock of Kodiak Gas Services

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October 30, 2025 · 12:52 PM UTC

EQT completes sale of shares in Galderma Group AG

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October 23, 2025 · 4:30 PM UTC

Mountain Valley Pipeline, LLC Files Formal Application Requesting FERC Authorization to Construct MVP Boost

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October 21, 2025 · 4:30 PM UTC

EQT Reports Third Quarter 2025 Results

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October 16, 2025 · 4:15 PM UTC

EQT Increases Base Dividend by Five Percent

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