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EXEEZ

Expand Energy Corporation

EXEEZ

Expand Energy Corporation • NASDAQ
$97.00 ▼ -9.55% (-10.24)
Market Cap $23.10 B
52w High $107.96
52w Low $72.50
Dividend Yield 0%
P/E 0
Volume 1
Outstanding Shares 238.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.966B ▼ $1.633B ▲ $547M ▼ 18.442% ▼ $2.3 ▼ $1.484B ▼
Q2-2025 $3.686B ▲ $143M ▼ $968M ▲ 26.262% ▲ $4.07 ▲ $2.057B ▲
Q1-2025 $3.21B ▲ $988M ▲ $-249M ▲ -7.757% ▲ $-1.06 ▲ $451M ▲
Q4-2024 $2.234B ▲ $330M ▲ $-399M ▼ -17.86% ▲ $-2.54 ▼ $290M ▲
Q3-2024 $585M $61M $-114M -19.487% $-0.85 $197M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $848M ▼ $27.606B ▼ $9.456B ▼ $18.15B ▲
Q2-2025 $852M ▲ $27.768B ▼ $9.831B ▼ $17.937B ▲
Q1-2025 $349M ▲ $27.934B ▲ $10.743B ▲ $17.191B ▼
Q4-2024 $317M ▼ $27.894B ▲ $10.329B ▲ $17.565B ▲
Q3-2024 $1.044B $13.392B $3.204B $10.188B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $547M ▼ $1.201B ▼ $-845M ▼ $-471M ▼ $-115M ▼ $426M ▼
Q2-2025 $968M ▲ $1.322B ▲ $-591M ▼ $-352M ▲ $379M ▲ $665M ▲
Q1-2025 $-249M ▲ $1.096B ▲ $-507M ▲ $-557M ▼ $32M ▲ $533M ▲
Q4-2024 $-399M ▼ $375M ▼ $-945M ▼ $-155M ▼ $-725M ▼ $-161M ▼
Q3-2024 $-114M $418M $-319M $-74M $25M $120M

Revenue by Products

Product Q2-2025
Natural Gas Liquids Sales
Natural Gas Liquids Sales
 $180.00M ▲
Natural Gas Sales
Natural Gas Sales
 $1.76Bn ▲
Natural Gas Gathering Transportation Marketing and Processing
Natural Gas Gathering Transportation Marketing and Processing
 $790.00M ▲
Oil and Gas
Oil and Gas
 $2.02Bn ▲
Oil Sales
Oil Sales
 $90.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Expand Energy’s income statement shows a business that is very sensitive to the ups and downs of the natural gas market. Revenue climbed strongly in the early years after listing but has fallen back noticeably over the last two years. Profitability followed the same pattern: strong profits in the middle of the period, surrounded by loss-making years at the start and most recent year. The company can generate healthy earnings when pricing and volumes cooperate, but its results remain volatile and heavily tied to commodity cycles and integration costs from the merger.

Balance Sheet

Balance Sheet The balance sheet has improved meaningfully from its early, more distressed state. Total assets and shareholder equity have been building over time, indicating a stronger underlying franchise and a thicker capital cushion than a few years ago. Debt levels are meaningful but not extreme, although they have been creeping up again recently. Cash on hand is relatively modest, so the company relies on ongoing cash generation and access to financing rather than a large cash reserve, which adds some financial tension during weaker periods for natural gas.

Cash Flow

Cash Flow Cash flow is a relative bright spot. The company has consistently generated cash from its operations, even in years when accounting earnings were under pressure. Free cash flow has generally been positive but is now much thinner, as heavy ongoing investment in drilling and development soaks up much of the cash coming in. This pattern suggests a commitment to sustaining and growing production, but it also means less flexibility if market conditions remain weak for an extended period.

Competitive Edge

Competitive Edge Expand Energy benefits from very large scale, attractive acreage, and a strategic position in key U.S. natural gas basins. Its footprint in the Marcellus and Haynesville shales gives it access both to domestic demand centers and to the Gulf Coast, where liquefied natural gas exports are growing. Size brings bargaining power with suppliers and midstream partners, and the recent merger promises further cost efficiencies, though integration always carries execution risk. A distinctive feature is its push into fully certified, responsibly sourced gas, which could appeal to customers with strict environmental requirements and gradually strengthen its pricing power, especially if differentiated gas markets deepen.

Innovation and R&D

Innovation and R&D Innovation at Expand Energy is less about headline-grabbing new inventions and more about doing the basics faster, cheaper, and cleaner. The company leans on data analytics, machine learning, and operational discipline to drill more efficiently and reduce downtime, which can translate into lower costs per well. Its focus on emissions monitoring, certification standards, and a stated path toward lower operational emissions is also part of its innovation story, tying technology directly to environmental performance. Future upside would depend on how effectively it channels capital and expertise into emerging areas like carbon management or hydrogen, but for now its edge is mainly in the optimization of existing natural gas technologies at scale.

Summary

Overall, Expand Energy looks like a scaled natural gas producer with meaningful strengths but pronounced cyclicality. Financially, it has moved from a troubled past toward a sturdier balance sheet and consistent operating cash flow, yet profits still swing with gas prices and investment cycles. Strategically, it enjoys valuable acreage, a large production base, and a differentiated position in certified, responsibly sourced gas, all of which could matter more as LNG exports grow and environmental scrutiny intensifies. The main trade-offs are its exposure to commodity volatility, substantial ongoing capital needs, and the broader uncertainty of the energy transition, which together make its future path more dependent on both market conditions and disciplined execution than on any single technological breakthrough.