Cheniere Energy Financials
This page shows Cheniere Energy (CQP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cheniere Energy has an operating margin of 37.7%, meaning the company retains $38 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 52.1% the prior year.
Cheniere Energy's revenue declined 9.9% year-over-year, from $9.7B to $8.7B. This contraction results in a growth score of 0/100.
Cheniere Energy's current ratio of 0.77 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 11/100, which could limit financial flexibility.
Cheniere Energy converts 32.3% of revenue into free cash flow ($2.8B). This strong cash generation earns a score of 100/100.
Cheniere Energy passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Cheniere Energy generates $1.18 in operating cash flow ($3.0B OCF vs $2.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Cheniere Energy earns $4.1 in operating income for every $1 of interest expense ($3.3B vs $800.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Cheniere Energy generated $8.7B in revenue in fiscal year 2024. This represents a decrease of 9.9% from the prior year.
Cheniere Energy's EBITDA was $4.0B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.6% from the prior year.
Cheniere Energy generated $2.8B in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 2.6% from the prior year.
Cheniere Energy reported $2.5B in net income in fiscal year 2024. This represents a decrease of 41.0% from the prior year.
Cheniere Energy held $270.0M in cash against $14.8B in long-term debt as of fiscal year 2024.
Cheniere Energy had 484M shares outstanding in fiscal year 2024.
Cheniere Energy's gross margin was 58.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 12.7 percentage points from the prior year.
Cheniere Energy's operating margin was 37.7% in fiscal year 2024, reflecting core business profitability. This is down 14.4 percentage points from the prior year.
Cheniere Energy's net profit margin was 28.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 15.2 percentage points from the prior year.
Cheniere Energy invested $154.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 30.0% from the prior year.
CQP Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4B-2.1% | $2.5B-17.9% | $3.0B+21.5% | $2.5B+29.9% | $1.9B-17.5% | $2.3B-14.6% | $2.7B+26.2% | $2.1B |
| Cost of Revenue | $1.3B+6.9% | $1.2B-29.8% | $1.7B+45.3% | $1.2B+77.3% | $661.0M-31.7% | $968.0M-14.0% | $1.1B+64.5% | $684.0M |
| Gross Profit | $1.1B-10.6% | $1.3B-2.1% | $1.3B-0.2% | $1.3B+4.5% | $1.2B-7.1% | $1.3B-15.0% | $1.6B+8.1% | $1.4B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $26.0M0.0% | $26.0M-3.7% | $27.0M+12.5% | $24.0M-7.7% | $26.0M+4.0% | $25.0M0.0% | $25.0M+13.6% | $22.0M |
| Operating Income | $696.0M-2.7% | $715.0M-13.4% | $826.0M+1.7% | $812.0M+6.0% | $766.0M-12.5% | $875.0M-20.5% | $1.1B+11.4% | $988.0M |
| Interest Expense | $189.0M+0.5% | $188.0M-1.1% | $190.0M-3.6% | $197.0M-2.5% | $202.0M0.0% | $202.0M-0.5% | $203.0M-1.0% | $205.0M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $506.0M-8.5% | $553.0M-13.7% | $641.0M+2.9% | $623.0M+9.3% | $570.0M-16.4% | $682.0M-24.7% | $906.0M+14.5% | $791.0M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CQP Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.8B-0.6% | $16.9B-1.0% | $17.1B-2.1% | $17.5B-0.4% | $17.5B+0.1% | $17.5B-3.3% | $18.1B+0.2% | $18.1B |
| Current Assets | $1.1B+10.0% | $1.0B-12.3% | $1.2B-12.5% | $1.3B+7.9% | $1.2B+11.3% | $1.1B-30.2% | $1.6B+16.8% | $1.4B |
| Cash & Equivalents | $121.0M+12.0% | $108.0M+14.9% | $94.0M-65.2% | $270.0M-23.1% | $351.0M+5.4% | $333.0M-42.1% | $575.0M+15.2% | $499.0M |
| Inventory | $147.0M-3.9% | $153.0M-6.7% | $164.0M+8.6% | $151.0M+4.9% | $144.0M+7.5% | $134.0M-5.6% | $142.0M+8.4% | $131.0M |
| Accounts Receivable | N/A | $0 | $0-100.0% | $1.0M-99.3% | $144.0M-10.0% | $160.0M | $0-100.0% | $167.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $17.2B-0.5% | $17.3B-1.2% | $17.5B-2.7% | $18.0B-1.7% | $18.3B | N/A | $18.9B | N/A |
| Current Liabilities | $1.7B+2.5% | $1.7B+26.0% | $1.3B-23.3% | $1.7B-9.2% | $1.9B-36.0% | $2.9B+88.3% | $1.6B+1.1% | $1.5B |
| Long-Term Debt | $14.2B-0.4% | $14.2B-3.4% | $14.7B-0.3% | $14.8B-0.3% | $14.8B+8.7% | $13.6B-12.8% | $15.6B0.0% | $15.6B |
| Total Equity | -$348.0M-2.4% | -$340.0M+10.5% | -$380.0M+25.3% | -$509.0M+32.7% | -$756.0M | N/A | -$784.0M | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CQP Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $658.0M+17.9% | $558.0M-16.1% | $665.0M-24.1% | $876.0M+19.7% | $732.0M+9.4% | $669.0M-27.0% | $916.0M+39.8% | $655.0M |
| Capital Expenditures | $48.0M-29.4% | $68.0M+13.3% | $60.0M+22.4% | $49.0M+63.3% | $30.0M-16.7% | $36.0M-28.0% | $50.0M+138.1% | $21.0M |
| Free Cash Flow | $610.0M+24.5% | $490.0M-19.0% | $605.0M-26.8% | $827.0M+17.8% | $702.0M+10.9% | $633.0M-26.9% | $866.0M+36.6% | $634.0M |
| Investing Cash Flow | -$49.0M+30.0% | -$70.0M-14.8% | -$61.0M-22.0% | -$50.0M-56.3% | -$32.0M+13.5% | -$37.0M+27.5% | -$51.0M-142.9% | -$21.0M |
| Financing Cash Flow | -$589.0M-14.6% | -$514.0M+36.8% | -$813.0M+5.2% | -$858.0M-27.5% | -$673.0M+22.7% | -$871.0M-13.4% | -$768.0M+64.7% | -$2.2B |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CQP Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.8%-4.4pp | 51.3%+8.3pp | 43.0%-9.3pp | 52.4%-12.7pp | 65.1%+7.3pp | 57.8%-0.3pp | 58.1%-9.7pp | 67.9% |
| Operating Margin | 28.9%-0.2pp | 29.1%+1.5pp | 27.6%-5.4pp | 33.0%-7.4pp | 40.4%+2.3pp | 38.1%-2.9pp | 41.0%-5.4pp | 46.4% |
| Net Margin | 21.1%-1.5pp | 22.5%+1.1pp | 21.4%-3.9pp | 25.3%-4.8pp | 30.1%+0.4pp | 29.7%-4.0pp | 33.7%-3.4pp | 37.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 3.0%-0.3pp | 3.3%-0.5pp | 3.8%+0.2pp | 3.6%+0.3pp | 3.3%-0.6pp | 3.9%-1.1pp | 5.0%+0.6pp | 4.4% |
| Current Ratio | 0.66+0.0 | 0.61-0.3 | 0.88+0.1 | 0.77+0.1 | 0.65+0.3 | 0.37-0.6 | 1.01+0.1 | 0.87 |
| Debt-to-Equity | -40.68+1.1 | -41.80-3.1 | -38.72-9.7 | -29.00-9.4 | -19.58 | N/A | -19.91 | N/A |
| FCF Margin | 25.4%+5.4pp | 20.0%-0.3pp | 20.2%-13.4pp | 33.6%-3.4pp | 37.1%+9.5pp | 27.6%-4.7pp | 32.2%+2.5pp | 29.8% |
Note: Shareholder equity is negative (-$509.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.77), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Cheniere Energy's annual revenue?
Cheniere Energy (CQP) reported $8.7B in total revenue for fiscal year 2024. This represents a -9.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cheniere Energy's revenue growing?
Cheniere Energy (CQP) revenue declined by 9.9% year-over-year, from $9.7B to $8.7B in fiscal year 2024.
Is Cheniere Energy profitable?
Yes, Cheniere Energy (CQP) reported a net income of $2.5B in fiscal year 2024, with a net profit margin of 28.8%.
What is Cheniere Energy's EBITDA?
Cheniere Energy (CQP) had EBITDA of $4.0B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cheniere Energy have?
As of fiscal year 2024, Cheniere Energy (CQP) had $270.0M in cash and equivalents against $14.8B in long-term debt.
What is Cheniere Energy's gross margin?
Cheniere Energy (CQP) had a gross margin of 58.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cheniere Energy's operating margin?
Cheniere Energy (CQP) had an operating margin of 37.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Cheniere Energy's net profit margin?
Cheniere Energy (CQP) had a net profit margin of 28.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Cheniere Energy's free cash flow?
Cheniere Energy (CQP) generated $2.8B in free cash flow during fiscal year 2024. This represents a -2.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cheniere Energy's operating cash flow?
Cheniere Energy (CQP) generated $3.0B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Cheniere Energy's total assets?
Cheniere Energy (CQP) had $17.5B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Cheniere Energy's capital expenditures?
Cheniere Energy (CQP) invested $154.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Cheniere Energy have outstanding?
Cheniere Energy (CQP) had 484M shares outstanding as of fiscal year 2024.
What is Cheniere Energy's current ratio?
Cheniere Energy (CQP) had a current ratio of 0.77 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Cheniere Energy's debt-to-equity ratio?
Cheniere Energy (CQP) had a debt-to-equity ratio of -29.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cheniere Energy's return on assets (ROA)?
Cheniere Energy (CQP) had a return on assets of 14.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Cheniere Energy's debt-to-equity ratio negative or unusual?
Cheniere Energy (CQP) has negative shareholder equity of -$509.0M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Cheniere Energy's Piotroski F-Score?
Cheniere Energy (CQP) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cheniere Energy's earnings high quality?
Cheniere Energy (CQP) has an earnings quality ratio of 1.18x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Cheniere Energy cover its interest payments?
Cheniere Energy (CQP) has an interest coverage ratio of 4.1x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cheniere Energy?
Cheniere Energy (CQP) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.