EQT Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 27, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EQT SEC filings page.
EQT CORP (EQT) reported $9.5B in revenue over the twelve months to Jun 30, 2026, up 32.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
EQT’s FY2025 recovery came from sharply better operating economics and cash conversion, while debt fell but short-term coverage remained tight.
Cash conversion was unusually strong: FY2025 operating cash flow was$5.1B versus net income of$2.0B , showing earnings translated into more cash than reported profit. The251.4% conversion ratio alongside$2.6B of depreciation and amortization indicates the gap was materially shaped by non-cash charges, consistent with a capital-intensive business.
Revenue expanded
The balance sheet became less leveraged in FY2025: long-term debt fell
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of EQT CORP's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
EQT CORP has an operating margin of 37.6%, meaning the company retains $38 of operating profit per $100 of revenue. This results in a moderate score of 56/100, indicating healthy but not exceptional operating efficiency. This is up from 13.0% the prior year.
EQT CORP's revenue surged 63.9% year-over-year to $8.6B, reflecting rapid business expansion. This strong growth earns a score of 71/100.
EQT CORP has a moderate D/E ratio of 0.31. This balance of debt and equity financing earns a leverage score of 42/100.
EQT CORP's current ratio of 0.76 is below the typical benchmark, resulting in a score of 19/100. This tight liquidity could limit financial flexibility if cash inflows slow.
EQT CORP converts 32.8% of revenue into free cash flow ($2.8B). This strong cash generation earns a score of 88/100.
EQT CORP's ROE of 8.6% shows moderate profitability relative to equity, earning a score of 33/100. This is up from 1.1% the prior year.
EQT CORP scores 2.05, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $35.2B against total liabilities of $14.4B. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
EQT CORP passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, EQT CORP generates $2.51 in operating cash flow ($5.1B OCF vs $2.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
EQT CORP earns $7.41 in operating income for every $1 of interest expense ($3.2B vs $438.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
EQT CORP generated $1.8B in revenue in Q2 2026. This represents a decrease of 29.2% from the same quarter a year earlier. Against the prior quarter it is down 46.4%.
EQT CORP's EBITDA was $1.1B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 38.3% from the same quarter a year earlier. Against the prior quarter it is down 59.7%.
EQT CORP reported $211.4M in net income in Q2 2026. This represents a decrease of 73.0% from the same quarter a year earlier. Against the prior quarter it is down 85.8%.
EQT CORP earned $0.34 per diluted share (EPS) in Q2 2026. This represents a decrease of 73.8% from the same quarter a year earlier. Against the prior quarter it is down 85.6%.
Cash & Balance Sheet
EQT CORP generated $397.8M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 42.5% from the same quarter a year earlier. Against the prior quarter it is down 83.8%.
EQT CORP held $112.9M in cash against $5.5B in long-term debt as of Q2 2026.
EQT CORP paid $0.17 per share in dividends in Q2 2026. This represents an increase of 4.8% from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
EQT CORP's operating margin was 21.8% in Q2 2026, reflecting core business profitability. This is down 22.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 38.5 percentage points.
EQT CORP's net profit margin was 11.7% in Q2 2026, showing the share of revenue converted to profit. This is down 19.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 32.3 percentage points.
EQT CORP's quarterly ROE was 0.8% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.1 percentage points.
Not reported for Q2 2026.
Capital Allocation
EQT CORP invested $650.2M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 18.3% from the same quarter a year earlier. Against the prior quarter it is up 8.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
EQT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B-29.2% | $3.4B+94.2% | $2.4B+47.0% | $2.0B+52.6% | $2.6B+168.5% | $1.7B+23.2% | $1.6B-20.5% | $1.3B+8.2% |
| Cost of Revenue | $385.0M-1.1% | $400.3M+5.9% | $387.6M+0.3% | $377.1M-14.5% | $389.1M-28.3% | $378.2M-30.6% | $386.5M-31.5% | $440.8M-20.5% |
| SG&A Expenses | $106.4M+30.5% | $95.8M+4.7% | $108.3M+0.3% | $98.7M+11.6% | $81.6M+21.4% | $91.5M+25.2% | $108.0M+60.8% | $88.5M+55.4% |
| Operating Income | $394.0M-65.3% | $2.0B+310.3% | $1.0B+30.0% | $603.2Mn/m | $1.1B+38070.2% | $496.3M+171.6% | $781.4M+8.1% | -$281.8M-1883.0% |
| EBITDA | $1.1B-38.3% | $2.7B+140.9% | $1.7B+20.1% | $1.3B+320.1% | $1.8B+274.8% | $1.1B+66.9% | $1.4B+14.5% | $307.5M-33.6% |
| Interest Expense | $75.5M-28.6% | $96.8M-17.7% | $105.5M-43.4% | $109.9M-30.6% | $105.7M+89.6% | $117.6M+116.2% | $186.4M+156.1% | $158.3M+162.0% |
| Income Tax | $84.9M-64.0% | $433.4M+450.9% | $208.3M+41.9% | $129.3Mn/m | $235.6Mn/m | $78.7M+223.7% | $146.9M-2.7% | -$104.9Mn/m |
| Net Income | $211.4M-73.0% | $1.5B+514.2% | $677.1M+61.8% | $335.9Mn/m | $784.1M+8139.4% | $242.1M+134.0% | $418.4M-16.7% | -$300.8M-470.2% |
| EPS (Basic) | $0.34-74.0% | $2.38+495.0% | $1.09+29.8% | $0.54n/m | $1.31+6450.0% | $0.40+66.7% | $0.84-31.1% | -$0.54-357.1% |
| EPS (Diluted) | $0.34-73.8% | $2.36+490.0% | $1.08+28.6% | $0.53n/m | $1.30+6400.0% | $0.40+73.9% | $0.84-26.3% | -$0.54-370.0% |
| Diluted Shares (Avg) | 629M+4.3% | 629M+4.4% | N/A | 628M+12.3% | 603M+35.5% | 603M+35.5% | N/A | 560M+34.5% |
Not reported in any period shown, so not listed: Gross Profit, R&D Expenses.
EQT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $41.3B+4.2% | $41.7B+5.0% | $41.8B+4.9% | $41.2B+3.1% | $39.7B+60.6% | $39.7B+56.1% | $39.8B+57.5% | $39.9B+62.7% |
| Current Assets | $1.2B-27.8% | $1.6B-10.5% | $1.9B+10.5% | $1.3B+17.1% | $1.6B+32.6% | $1.7B-17.0% | $1.7B-14.8% | $1.1B-13.2% |
| Cash & Equivalents | $112.9M-79.7% | $326.6M+15.9% | $110.8M-45.2% | $235.7M+164.9% | $555.5M+1753.2% | $281.8M-56.5% | $202.1M+149.6% | $89.0M+37.4% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | $835.1M+2.2% | $953.3M-21.0% | $1.5B+28.7% | $803.9M+39.2% | $817.4M+39.3% | $1.2B+171.0% | $1.1B+37.5% | $577.6M+3.3% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $2.1B0.0% | $2.1B-0.2% | $2.1B-0.8% | $2.1B-5.3% | $2.1B | $2.1B | $2.1Bn/m | $2.2B |
| Total Liabilities | $12.5B-14.5% | $12.9B-15.7% | $14.4B-7.2% | $14.4B-26.0% | $14.6B+52.0% | $15.3B+49.0% | $15.6B+48.1% | $19.5B+88.1% |
| Current Liabilities | $1.8B-24.1% | $2.4B-22.7% | $2.5B+0.9% | $2.2B+3.7% | $2.3B+36.8% | $3.1B+29.0% | $2.5B+20.9% | $2.1B-0.2% |
| Non-Current Liabilities | $10.7B-12.7% | $10.5B-13.9% | $11.9B-8.7% | $12.2B-29.6% | $12.3B+55.3% | $12.2B+55.0% | $13.1B+54.6% | $17.3B+110.8% |
| Long-Term Debt | $5.5B-30.1% | $5.5B-32.4% | $7.3B-19.0% | $7.7B-42.4% | $7.9B+60.2% | $8.1B+65.5% | $9.0B+63.6% | $13.4B+143.5% |
| Total Equity | $25.3B+17.9% | $25.1B+21.2% | $23.8B+15.3% | $23.2B+13.9% | $21.4B+41.7% | $20.7B+36.6% | $20.6B+39.4% | $20.3B+43.2% |
| Retained Earnings | $5.7B+67.3% | $5.6B+105.5% | $4.2B+63.9% | $3.7B+62.0% | $3.4B+29.0% | $2.7B+0.7% | $2.6B-3.6% | $2.3B+0.7% |
Not reported in any period shown, so not listed: Inventory.
EQT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.0B-15.6% | $3.1B+75.5% | $1.1B+48.8% | $1.0B+71.6% | $1.2B+285.6% | $1.7B+50.7% | $756.3M+21.1% | $593.0M+30.4% |
| Depreciation & Amortization | $689.6M+10.6% | $654.8M+5.5% | $667.8M+7.6% | $688.4M+16.8% | $623.5M+33.8% | $620.8M+27.5% | $620.3M+23.6% | $589.3M+31.9% |
| Stock-Based Compensation | N/A | $18.6M+26.0% | N/A | N/A | N/A | $14.8M+40.0% | N/A | N/A |
| Capital Expenditures | $650.2M+18.3% | $598.5M+19.8% | $612.7M+3.6% | $626.4M+10.0% | $549.6M-1.5% | $499.6M-6.5% | $591.6M+11.0% | $569.5M+13.0% |
| Free Cash Flow | $397.8M-42.5% | $2.5B+97.9% | $512.7M+211.3% | $391.3M+1564.4% | $692.1Mn/m | $1.2B+99.9% | $164.7M+80.5% | $23.5Mn/m |
| Investing Cash Flow | -$681.1Mn/m | -$842.4Mn/m | -$621.0M-206.6% | -$1.0Bn/m | -$664.0Mn/m | -$534.0Mn/m | $582.4Mn/m | -$1.3Bn/m |
| Financing Cash Flow | -$580.6Mn/m | -$2.0Bn/m | -$629.3Mn/m | -$311.6M-141.6% | -$304.0Mn/m | -$1.1Bn/m | -$1.2Bn/m | $749.1M-36.8% |
| Dividends Paid | $103.2M+9.5% | $103.1M+9.5% | $103.0M+9.6% | $98.3M+5.0% | $94.3M+35.5% | $94.1M+35.6% | $94.0M+42.9% | $93.6M+72.6% |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0n/m | $0n/m |
EQT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 21.8%-22.6pp | 60.3%+31.7pp | 42.5%-5.5pp | 30.8%+52.8pp | 44.3%+44.0pp | 28.5%+15.6pp | 48.1%+12.7pp | -21.9%-23.3pp |
| Net Margin | 11.7%-19.0pp | 44.0%+30.1pp | 28.3%+2.6pp | 17.2%+40.6pp | 30.7%+29.7pp | 13.9%+6.6pp | 25.8%+1.2pp | -23.4%-30.3pp |
| Return on Equity | 0.8%-2.8pp | 5.9%+4.8pp | 2.9%+0.8pp | 1.5%+2.9pp | 3.7%+3.6pp | 1.2%+0.5pp | 2.0%-1.4pp | -1.5%-2.1pp |
| Return on Assets | 0.5%-1.5pp | 3.6%+3.0pp | 1.6%+0.6pp | 0.8%+1.6pp | 2.0%+1.9pp | 0.6%+0.2pp | 1.1%-0.9pp | -0.8%-1.1pp |
| Current Ratio | 0.670.0x | 0.66+0.1x | 0.76+0.1x | 0.58+0.1x | 0.710.0x | 0.57-0.3x | 0.70-0.3x | 0.51-0.1x |
| Debt-to-Equity | 0.22-0.2x | 0.22-0.2x | 0.31-0.1x | 0.33-0.3x | 0.370.0x | 0.39+0.1x | 0.44+0.1x | 0.66+0.3x |
| Liabilities-to-Equity | 0.49-0.2x | 0.51-0.2x | 0.61-0.1x | 0.62-0.3x | 0.680.0x | 0.74+0.1x | 0.760.0x | 0.96+0.2x |
| Asset Turnover | 0.040.0x | 0.080.0x | 0.060.0x | 0.050.0x | 0.060.0x | 0.040.0x | 0.040.0x | 0.030.0x |
| FCF Margin | 22.0%-5.1pp | 72.7%+1.3pp | 21.5%+11.3pp | 20.0%+18.1pp | 27.1%+51.8pp | 71.4%+27.4pp | 10.1%+5.7pp | 1.8%+6.0pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.76), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| EQT CORP EQT | FY2025 | $8.6B | $2.0B | 23.6% | $35.2B | 52/100 |
| Woodside Energy Group Limited WDS | FY2025 | $13.0B | $2.7B | 20.9% | $44.4B | 56/100 |
| Diamondback Energy, Inc. FANG | FY2025 | $15.0B | $1.7B | 11.1% | $58.0B | 48/100 |
| Expand Energy Corporation EXE | FY2025 | $12.1B | $1.8B | 15.0% | $21.8B | 54/100 |
| Occidental Petroleum Corporation OXY | FY2025 | $21.6B | $2.3B | 10.8% | $64.0B | 55/100 |
Where EQT CORP Ranks
Frequently Asked Questions
What is EQT CORP's annual revenue?
EQT CORP (EQT) reported $8.6B in total revenue for fiscal year 2025. This represents a 63.9% 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 EQT CORP's revenue growing?
EQT CORP (EQT) revenue grew by 63.9% year-over-year, from $5.3B to $8.6B in fiscal year 2025.
Is EQT CORP profitable?
Yes, EQT CORP (EQT) reported a net income of $2.7B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $2.0B, with a net profit margin of 23.6%.
What is EQT CORP's EBITDA?
EQT CORP (EQT) had EBITDA of $5.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does EQT CORP have?
As of fiscal year 2025, EQT CORP (EQT) had $110.8M in cash and equivalents against $7.3B in long-term debt.
What is EQT CORP's operating margin?
EQT CORP (EQT) had an operating margin of 37.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is EQT CORP's net profit margin?
EQT CORP (EQT) had a net profit margin of 23.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does EQT CORP pay dividends?
Yes, EQT CORP (EQT) paid $0.64 per share in dividends during fiscal year 2025.
What is EQT CORP's return on equity (ROE)?
EQT CORP (EQT) has a return on equity of 8.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is EQT CORP's free cash flow?
EQT CORP (EQT) generated $2.8B in free cash flow during fiscal year 2025. This represents a 395.0% 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 EQT CORP's operating cash flow?
EQT CORP (EQT) generated $5.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are EQT CORP's total assets?
EQT CORP (EQT) had $41.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are EQT CORP's capital expenditures?
EQT CORP (EQT) invested $2.3B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is EQT CORP's current ratio?
EQT CORP (EQT) had a current ratio of 0.76 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is EQT CORP's debt-to-equity ratio?
EQT CORP (EQT) had a debt-to-equity ratio of 0.31 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is EQT CORP's liabilities-to-equity ratio?
EQT CORP (EQT) had a liabilities-to-equity ratio of 0.61 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is EQT CORP's return on assets (ROA)?
EQT CORP (EQT) had a return on assets of 4.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is EQT CORP's P/E ratio?
EQT CORP (EQT) trades at 13.0x earnings, its market capitalization divided by $2.7B net income, trailing 12 months to June 30, 2026. The market capitalization is $35.2B as of Oct 27, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is EQT CORP's price-to-sales ratio?
EQT CORP (EQT) trades at 3.7x sales, its market capitalization divided by $9.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $35.2B as of Oct 27, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is EQT CORP's Altman Z-Score?
EQT CORP (EQT) has an Altman Z-Score of 2.05, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is EQT CORP's Piotroski F-Score?
EQT CORP (EQT) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are EQT CORP's earnings high quality?
EQT CORP (EQT) has an earnings quality ratio of 2.51x, 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 EQT CORP cover its interest payments?
EQT CORP (EQT) has an interest coverage ratio of 7.41x, meaning it can comfortably 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 EQT CORP?
EQT CORP (EQT) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.