NASDAQ · Financial Statements

Expand Energy Corporation (EXE) Financial Statements

$93.23 NASDAQ: EXE Market Cap $21.58B

Expand Energy Corporation most recently reported annual revenue of $11.6B, net profit of $1.8B. Revenue grew at an average annual rate of 17.5% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Expand Energy Corporation: Revenue rose from $7.9B in 2016 to $11.6B in 2025, a change of +48.0% over 9 years; net profit was positive in 5 of 10 reported years; operating margin moved from -56.0% to 17.5%, a shift of +73.5 percentage points; the most recent year shows net profit of $1.8B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$7.9B$9.5B$10.2B$8.5B$5.2B$7.3B$11.4B$7.8B$4.2B$11.6B
Operating Expenses$12.3B$9.6B$9.8B$8.5B$13.9B$5.0B$7.7B$4.6B$5.0B$9.6B
Operating Profit$-4.4B$-138.0M$382.0M$-31.0M$-8.7B$2.3B$3.8B$3.1B$-803.0M$2.0B
Operating Margin-56.0%-1.4%3.7%-0.4%-167.0%31.8%33.0%40.4%-19.0%17.5%
Other Income$-178.0M$-362.0M$-164.0M$-608.0M$-1.1B$3.9B$-129.0M$-25.0M$-38.0M$245.0M
Interest$286.0M$425.0M$634.0M$652.0M$331.0M$84.0M$160.0M$104.0M$123.0M$235.0M
Depreciation$1.1B$1.7B$1.7B$2.3B$1.1B$995.0M$1.8B$1.5B$1.7B$3.0B
Profit Before Tax$-4.6B$-500.0M$218.0M$-639.0M$-9.8B$6.2B$3.7B$3.1B$-841.0M$2.3B
Tax$4.1M$-400,000$-4.6M$51.8M$190,000$-1.7M$-35.2M$22.4M$15.1M$20.3M
Net Profit$-4.4B$-505.0M$226.0M$-308.0M$-9.7B$6.3B$4.9B$2.4B$-714.0M$1.8B
EPS$-1278.00$-139.29$29.26$-49.97$-998.26$53.66$33.36$16.92$-4.55$7.57
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$1.5B$1.8B$1.1B$503.0M$646.0M$2.0B$2.2B$3.7B$3.0B$3.0B$4.4B$3.0B
Operating Expenses$1.4B$1.1B$1.0B$797.0M$801.0M$2.4B$2.5B$2.4B$2.2B$2.5B$2.9B$2.3B
Operating Profit$79.0M$726.0M$32.0M$-294.0M$-155.0M$-386.0M$-268.0M$1.3B$725.0M$557.0M$1.5B$661.0M
Operating Margin5.2%40.1%3.0%-58.5%-24.0%-19.3%-12.2%34.4%24.4%18.3%34.8%22.3%
Interest$23.0M$22.0M$19.0M$20.0M$20.0M$64.0M$59.0M$60.0M$57.0M$59.0M$59.0M$43.0M
Profit Before Tax$71.0M$735.0M$33.0M$-295.0M$-158.0M$-421.0M$-319.0M$1.2B$686.0M$687.0M$1.5B$672.0M
Tax$1.4M$22.6M$21.2M$23.1M$27.9M$5.2M$21.9M$21.2M$20.3M$19.5M$22.2M$22.3M
Net Profit$70.0M$569.0M$26.0M$-227.0M$-114.0M$-399.0M$-249.0M$968.0M$547.0M$553.0M$1.2B$522.0M
EPS$0.49$4.02$0.18$-1.73$-0.85$-1.72$-1.06$4.02$2.27$2.30$4.81$2.19

Over the 10 years reported for Expand Energy Corporation, borrowings decreased from $10.4B in 2016 to $5.1B in 2025, cash stood at $696.0M in the latest year, shareholders' equity was $2.0M, current assets covered current liabilities 1.01 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$13.0B$12.4B$12.7B$16.2B$6.6B$11.0B$15.5B$14.4B$27.9B$28.3B
Current Assets$2.1B$1.5B$1.6B$1.3B$1.1B$2.1B$2.7B$2.6B$2.0B$2.9B
Cash$882.0M$5.0M$4.0M$6.0M$279.0M$905.0M$130.0M$1.1B$317.0M$696.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$964.0M$1.1B$1.2B$990.0M$746.0M$1.1B$1.4B$585.0M$1.2B$1.6B
Fixed Assets$10.6B$10.7B$10.8B$14.8B$5.3B$8.8B$11.3B$10.2B$24.4B$24.4B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$134.0M$19.0M$0$18.0M$238.0M$307.0M$624.0M
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$14.2B$12.8B$10.6B$11.8B$11.9B$5.3B$6.3B$3.6B$10.3B$9.7B
Current Liabilities$3.6B$2.4B$2.9B$2.4B$3.1B$2.4B$2.7B$1.3B$3.1B$2.9B
Borrowings$10.4B$10.0B$7.7B$9.5B$2.0B$2.3B$3.2B$2.1B$5.8B$5.1B
Other Liabilities$3.8B$2.8B$2.9B$2.3B$10.0B$3.0B$3.1B$1.5B$4.5B$4.6B
Equity$9.0M$9.0M$9.0M$19.0M$0$1.0M$1.0M$1.0M$2.0M$2.0M
Reserves$-1.3B$-496.0M$2.1B$4.4B$-5.3B$5.7B$9.1B$10.7B$17.6B$18.6B

For Expand Energy Corporation, operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $1.8B; free cash flow was positive in 6 of 10 years; financing activities used $111.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-204.0M$745.0M$1.7B$1.6B$1.2B$1.8B$4.1B$2.4B$1.6B$4.6B
Investing Cash Flow$-2.8B$-3.4B$-1.5B$-4.7B$-2.1B$-1.7B$-5.2B$-1.4B$-3.5B$-5.5B
Financing Cash Flow$-31.0M$-25.0M$-155.0M$-36.0M$-122.0M$-1.0M$-1.1B$-355.0M$-14.0M$-111.0M
Net Cash Flow$57.0M$-877.0M$-1.0M$2.0M$273.0M$635.0M$-722.0M$961.0M$-758.0M$301.0M
Free Cash Flow$-2.3B$-1.7B$-267.0M$-640.0M$22.0M$1.1B$2.3B$551.0M$8.0M$1.8B

Valuation & Return Ratios

MetricValue
PEG Ratio0.00
EV / EBITDA3.39
FCF Yield13.04%
Quick Ratio0.96
Interest Coverage15.94
Return 1Y-8.62%
Return 3Y16.85%
Return 5Y88.29%

Expand Energy Corporation (EXE) financials — frequently asked questions

What is Expand Energy Corporation's annual revenue?

Expand Energy Corporation (EXE) reported annual revenue of $11.6B in its most recent fiscal year.

What is Expand Energy Corporation's net profit?

Expand Energy Corporation (EXE) reported net profit of $1.8B in its most recent fiscal year.

What is EXE EV/EBITDA?

Expand Energy Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is 3.39.

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