NFE Financials New Fortress Energy Inc.

9 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 82 d ago Overview →

Growth & profitability

Revenue has grown 29.9% per year over the past 5 years.
Operating margin has contracted, at -95.0% in the latest year.

Financial health

Total debt ($8.3B) exceeds cash ($226M); net debt is $8.0B.
Total debt has grown faster than revenue (46.1% vs 29.9% per year).
Operating income covered interest expense -1.4× in the latest year.
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.

Shareholder returns

Dividends have been paid for 6 consecutive years.
The dividend has declined 36.5% 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	$1.2B	-$1.8B	22.1%	-95.0%	-1003.0%	-17.4%	-$1.2B	$8.3B	$226M
2024	$1.7B	-$245M	37.2%	31.1%	-13.0%	-1.9%	-$1.5B	$9.1B	$493M
2023	$2.1B	$548M	57.3%	45.4%	33.4%	5.2%	-$2.1B	$7.0B	$155M
2022	$2.0B	$185M	48.9%	37.3%	14.3%	2.4%	-$819M	$4.5B	$675M
2021	$931M	$93M	33.8%	25.7%	5.2%	1.3%	-$585M	$3.9B	$188M
2020	$318M	-$182M	12.4%	-48.8%	-49.6%	-9.5%	-$283M	$1.2B	$602M
2019	$146M	-$34M	-26.0%	-128.7%	-39.9%	-3.0%	-$611M	$619M	$27M
2018	$97M	-$78M	1.2%	-60.4%	—	-11.2%	-$274M	$544M	$78M
2017	$82M	-$32M	4.2%	-30.4%	—	—	-$84M	—	—

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
Mar '26	$185M	-$401M	-7.8%	-121.7%	222.3%	-3.9%	-$162M	$8.4B	$92M
Dec '25	$327M	-$784M	35.7%	-186.8%	-429.5%	-7.4%	$99M	$8.3B	$226M
Sep '25	$240M	-$263M	18.1%	-37.4%	-24.9%	-2.2%	-$297M	$9.0B	$145M
Jun '25	$228M	-$546M	8.4%	-170.3%	-43.4%	-4.5%	-$665M	$9.2B	$551M
Mar '25	$385M	-$175M	21.4%	-3.3%	-9.9%	-1.3%	-$262M	$9.4B	$448M
Dec '24	$351M	-$226M	17.6%	62.8%	-12.0%	-1.7%	$107M	$9.1B	$493M
Sep '24	$446M	$10M	27.1%	17.8%	0.7%	0.1%	-$452M	$8.2B	$91M
Jun '24	$291M	-$82M	23.8%	12.3%	-5.3%	-0.7%	-$570M	$7.8B	$133M
Mar '24	$610M	$57M	62.4%	30.3%	3.4%	0.5%	-$613M	$7.2B	$143M
Dec '23	$643M	$215M	57.3%	52.1%	13.1%	2.0%	-$551M	$7.0B	$155M
Sep '23	$421M	$62M	54.4%	35.5%	4.3%	0.6%	-$693M	$6.2B	$171M
Jun '23	$495M	$120M	54.4%	38.6%	8.5%	1.3%	-$599M	$5.4B	$104M
Mar '23	$502M	$152M	63.1%	53.3%	11.7%	1.8%	-$363M	$5.2B	$297M
Dec '22	$449M	$66M	69.7%	55.8%	5.1%	0.9%	-$123M	$4.5B	$675M
Sep '22	$633M	$56M	37.8%	29.5%	3.0%	0.8%	-$425M	$4.5B	$364M
Jun '22	$497M	-$178M	45.2%	26.9%	-9.5%	-2.5%	-$196M	$4.2B	$138M
Mar '22	$400M	$241M	47.9%	41.6%	11.4%	3.3%	-$75M	$3.9B	$156M
Dec '21	$548M	$152M	48.5%	40.0%	8.5%	2.2%	-$14M	$3.9B	$188M
Sep '21	$188M	-$18M	28.1%	28.6%	-1.1%	-0.3%	-$224M	$3.8B	$224M
Jun '21	$103M	-$2M	1.4%	-11.9%	-0.1%	-0.0%	-$154M	$3.5B	$143M

Valuation over time

How the market has priced NFE 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 fallen from 45.5× (Mar '23) to 5.6× (Nov '24).
The price-to-sales ratio has fallen from 4.2× (Mar '23) to 0.1× (Sep '26).
The dividend yield has risen from 1.2% (Mar '23) to 4.4% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is NFE growing its revenue and profit?

Over the past 5 years, New Fortress Energy Inc.'s revenue has grown 29.9% per year. These are computed facts, not advice.

How much debt does NFE have?

As of FY2025, New Fortress Energy Inc. reported $8.3B of total debt against $226M of cash; operating income covered interest expense -1.4×.

What is NFE's profit margin?

In FY2025, gross margin was 22.1%, operating margin -95.0%, and net margin -155.3%.

What is NFE's P/E ratio?

As of Sep '26, New Fortress Energy Inc. traded at a price-to-earnings ratio of about 5.6× (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.