EQT Financials EQT Corporation

13 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:19 UTC Overview →

Growth & profitability

Revenue has grown 23.1% per year over the past 5 years.
Operating margin has expanded, at 37.6% in the latest year.
Free cash flow has grown 41.8% per year over the past 5 years.

Financial health

Total debt ($7.8B) exceeds cash ($111M); net debt is $7.7B.
Total debt has grown slower than revenue (9.1% vs 23.1% per year).
Operating income covered interest expense 7.4× in the latest year.
Total debt is 1.3× EBITDA.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 19.1% of earnings and 13.7% of free cash flow.
The dividend has grown 119.4% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$8.6B	$2.0B	82.3%	37.6%	8.6%	4.9%	$2.8B	$7.8B	$111M
2024	$5.3B	$231M	63.7%	13.0%	1.1%	0.6%	$573M	$9.3B	$202M
2023	$6.9B	$1.7B	68.8%	33.5%	11.7%	6.9%	$1.2B	$5.8B	$81M
2022	$7.5B	$1.8B	71.8%	36.3%	15.9%	7.8%	$2.1B	$5.7B	$1.5B
2021	$3.1B	-$1.1B	36.6%	-44.4%	-11.5%	-5.3%	$607M	$5.6B	$114M
2020	$3.1B	-$959M	44.1%	-28.7%	-10.5%	-5.3%	$495M	$5.1B	$18M
2019	$4.4B	-$1.2B	60.3%	-26.1%	-12.5%	-6.5%	$249M	$5.3B	$5M
2018	$4.6B	-$2.2B	62.8%	-61.1%	-20.5%	-10.8%	-$23M	$4.7B	$3M
2017	$3.1B	$1.5B	62.3%	12.4%	11.3%	5.1%	$79M	$4.7B	$26M
2016	$1.4B	-$453M	36.5%	-54.4%	-7.7%	-2.9%	$122M	$3.3B	$1.1B
2015	—	$85M	—	—	1.7%	0.6%	-$1.2B	$2.8B	$1.6B
2014	—	$387M	—	—	8.4%	3.2%	-$863M	$3.0B	$1.1B
2013	—	$391M	—	—	9.7%	4.0%	$1.0B	$2.5B	$846M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$1.8B	$279M	79.1%	26.0%	1.1%	0.7%	$436M	$5.6B	$79M
Jun '26	$1.8B	$211M	78.7%	21.8%	0.8%	0.5%	$398M	$5.7B	$113M
Mar '26	$3.4B	$1.5B	88.2%	60.3%	5.9%	3.6%	$2.5B	$6.0B	$327M
Dec '25	$2.4B	$677M	83.8%	42.5%	2.9%	1.6%	$513M	$7.8B	$111M
Sep '25	$2.0B	$336M	80.7%	30.8%	1.5%	0.8%	$391M	$8.2B	$236M
Jun '25	$2.6B	$784M	84.8%	44.3%	3.7%	2.0%	$692M	$8.3B	$555M
Mar '25	$1.7B	$242M	78.3%	28.5%	1.2%	0.6%	$1.2B	$8.4B	$282M
Dec '24	$1.6B	$418M	76.2%	48.1%	2.0%	1.1%	$165M	$9.3B	$202M
Sep '24	$1.3B	-$301M	65.7%	-22.0%	-1.5%	-0.8%	$24M	$13.8B	$89M
Jun '24	$953M	$10M	43.0%	0.3%	0.1%	0.0%	-$236M	$5.0B	$30M
Mar '24	$1.4B	$103M	61.4%	12.9%	0.7%	0.4%	$621M	$5.5B	$648M
Dec '23	$2.0B	$502M	72.4%	35.4%	3.4%	2.0%	$91M	$5.8B	$81M
Sep '23	$1.2B	$81M	53.2%	1.3%	0.6%	0.3%	-$50M	$5.9B	$65M
Jun '23	$1.0B	-$67M	48.6%	-3.4%	-0.6%	-0.3%	-$50M	$4.7B	$1.2B
Mar '23	$2.7B	$1.2B	80.6%	60.5%	10.1%	5.4%	$1.2B	$5.5B	$2.1B
Dec '22	$3.5B	$1.7B	85.1%	66.7%	15.3%	7.6%	$711M	$5.7B	$1.5B
Sep '22	$2.1B	$684M	73.9%	44.7%	7.1%	3.0%	$788M	$4.8B	$88M
Jun '22	$2.5B	$891M	78.6%	53.9%	9.8%	3.9%	-$162M	$5.0B	$44M
Mar '22	-$579M	-$1.5B	189.1%	326.1%	-18.5%	-6.9%	$729M	—	$17M
Dec '21	$3.8B	$1.8B	86.0%	64.0%	18.1%	8.4%	$823M	$5.6B	$114M

Valuation over time

How the market has priced EQT against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 11.3× (Mar '23) to 16.8× (Nov '26).
The price-to-sales ratio has risen from 2.7× (Mar '23) to 4.0× (Nov '26).
The dividend yield has risen from 1.0% (Mar '23) to 1.1% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is EQT growing its revenue and profit?

Over the past 5 years, EQT Corporation's revenue has grown 23.1% per year. These are computed facts, not advice.

How much debt does EQT have?

As of FY2025, EQT Corporation reported $7.8B of total debt against $111M of cash; operating income covered interest expense 7.4×.

What is EQT's profit margin?

In FY2025, gross margin was 82.3%, operating margin 37.6%, and net margin 23.6%.

What is EQT's P/E ratio?

EQT Corporation's P/E (TTM) is 12.93 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the EQT stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 16.8× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.