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 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
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
FCF
Total debt
Cash
2025
$8.6B
$2.0B
82.3%
37.6%
$2.8B
$7.8B
$111M
2024
$5.3B
$231M
63.7%
13.0%
$573M
$9.3B
$202M
2023
$6.9B
$1.7B
68.8%
33.5%
$1.2B
$5.8B
$81M
2022
$7.5B
$1.8B
71.8%
36.3%
$2.1B
$5.7B
$1.5B
2021
$3.1B
-$1.1B
36.6%
-44.4%
$607M
$5.6B
$114M
2020
$3.1B
-$959M
44.1%
-28.7%
$495M
$5.1B
$18M
2019
$4.4B
-$1.2B
60.3%
-26.1%
$249M
$5.3B
$5M
2018
$4.6B
-$2.2B
62.8%
-61.1%
-$23M
$4.7B
$3M
2017
$3.1B
$1.5B
62.3%
12.4%
$79M
$4.7B
$26M
2016
$1.4B
-$453M
36.5%
-54.4%
$122M
$3.3B
$1.1B
2015
—
$85M
—
—
-$1.2B
$2.8B
$1.6B
2014
—
$387M
—
—
-$863M
$3.0B
$1.1B
2013
—
$391M
—
—
$1.0B
$2.5B
$846M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$3.4B
$1.5B
88.2%
60.3%
$2.5B
$6.0B
$327M
Dec '25
$2.4B
$677M
83.8%
42.5%
$513M
$7.8B
$111M
Sep '25
$2.0B
$336M
80.7%
30.8%
$391M
$8.2B
$236M
Jun '25
$2.6B
$784M
84.8%
44.3%
$692M
$8.3B
$555M
Mar '25
$1.7B
$242M
78.3%
28.5%
$1.2B
$8.4B
$282M
Dec '24
$1.6B
$418M
76.2%
48.1%
$165M
$9.3B
$202M
Sep '24
$1.3B
-$301M
65.7%
-22.0%
$24M
$13.8B
$89M
Jun '24
$953M
$10M
43.0%
0.3%
-$236M
$5.0B
$30M
Mar '24
$1.4B
$103M
61.4%
12.9%
$621M
$5.5B
$648M
Dec '23
$2.0B
$502M
72.4%
35.4%
$91M
$5.8B
$81M
Sep '23
$1.2B
$81M
53.2%
1.3%
-$50M
$5.9B
$65M
Jun '23
$1.0B
-$67M
48.6%
-3.4%
-$50M
$4.7B
$1.2B
Mar '23
$2.7B
$1.2B
80.6%
60.5%
$1.2B
$5.5B
$2.1B
Dec '22
$3.5B
$1.7B
85.1%
66.7%
$711M
$5.7B
$1.5B
Sep '22
$2.1B
$684M
73.9%
44.7%
$788M
$4.8B
$88M
Jun '22
$2.5B
$891M
78.6%
53.9%
-$162M
$5.0B
$44M
Mar '22
-$579M
-$1.5B
189.1%
326.1%
$729M
—
$17M
Dec '21
$3.8B
$1.8B
86.0%
64.0%
$823M
$5.6B
$114M
Sep '21
-$1.5B
-$2.0B
133.8%
178.1%
-$189M
—
$23M
Jun '21
-$260M
-$933M
278.4%
468.1%
-$176M
—
$331M
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 15.8× (Jun '26).
The price-to-sales ratio has risen from 2.7× (Mar '23) to 3.7× (Jun '26).
The dividend yield has risen from 1.0% (Mar '23) to 1.2% (Jun '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?
As of Jun '26, EQT Corporation traded at a price-to-earnings ratio of about 15.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.