This page shows Expand Energy Corporation (EXEEZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 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).
Cash generation rebounds faster than accounting profit because this is a capital-heavy business that absorbs much of its operating cash in reinvestment.
From FY2024 to FY2025, operating cash flow jumped from$1.6B to$4.6B while free cash flow margin reached only15.2% , because capital spending also climbed to$2.7B . That mix, plus depreciation of$3.0B that was close to capex, suggests the business can throw off cash in strong years but must continually reinvest a large asset base rather than letting most cash fall through.
The FY2024 loss did not force a more levered balance sheet: total liabilities were lower in FY2025 at
In FY2025, overhead was not the main constraint: SG&A was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Expand Energy Corporation'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.
Expand Energy Corporation has an operating margin of 20.4%, meaning the company retains $20 of operating profit per $100 of revenue. This results in a moderate score of 57/100, indicating healthy but not exceptional operating efficiency. This is up from -19.0% the prior year.
Expand Energy Corporation's revenue surged 186.3% year-over-year to $12.1B, reflecting rapid business expansion. This strong growth earns a score of 79/100.
Expand Energy Corporation has a moderate D/E ratio of 0.27. This balance of debt and equity financing earns a leverage score of 51/100.
Expand Energy Corporation's current ratio of 1.01 is below the typical benchmark, resulting in a score of 19/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Expand Energy Corporation has a free cash flow margin of 15.2%, earning a moderate score of 64/100. The company generates positive cash flow after capital investments, but with room for improvement.
Expand Energy Corporation's ROE of 9.8% shows moderate profitability relative to equity, earning a score of 55/100. This is up from -4.1% the prior year.
Expand Energy Corporation passes 7 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Expand Energy Corporation generates $2.52 in operating cash flow ($4.6B OCF vs $1.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Expand Energy Corporation earns $10.5 in operating income for every $1 of interest expense ($2.5B vs $235.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Expand Energy Corporation generated $12.1B in revenue in fiscal year 2025. This represents an increase of 186.3% from the prior year.
Expand Energy Corporation's EBITDA was $5.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 488.7% from the prior year.
Expand Energy Corporation reported $1.8B in net income in fiscal year 2025. This represents an increase of 354.8% from the prior year.
Expand Energy Corporation earned $7.57 per diluted share (EPS) in fiscal year 2025. This represents an increase of 266.4% from the prior year.
Cash & Balance Sheet
Expand Energy Corporation generated $1.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 22887.5% from the prior year.
Expand Energy Corporation held $616.0M in cash against $5.0B in long-term debt as of fiscal year 2025.
Expand Energy Corporation had 240M shares outstanding in fiscal year 2025.
Margins & Returns
Expand Energy Corporation's operating margin was 20.4% in fiscal year 2025, reflecting core business profitability. This is up 39.3 percentage points from the prior year.
Expand Energy Corporation's net profit margin was 15.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 31.9 percentage points from the prior year.
Expand Energy Corporation's ROE was 9.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 13.9 percentage points from the prior year.
Capital Allocation
Expand Energy Corporation spent $100.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Expand Energy Corporation invested $2.7B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 75.7% from the prior year.
EXEEZ Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.4B+34.4% | $3.3B+10.3% | $3.0B-19.6% | $3.7B+68.0% | $2.2B+9.7% | $2.0B+208.8% | $648.0M+28.3% | $505.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $63.0M+28.6% | $49.0M+8.9% | $45.0M+12.5% | $40.0M-14.9% | $47.0M-11.3% | $53.0M+35.9% | $39.0M-17.0% | $47.0M |
| Operating Income | $1.5B+105.5% | $745.0M+2.8% | $725.0M-42.9% | $1.3B+573.5% | -$268.0M+30.6% | -$386.0M-149.0% | -$155.0M+47.3% | -$294.0M |
| Interest Expense | $59.0M0.0% | $59.0M+3.5% | $57.0M-5.0% | $60.0M+1.7% | $59.0M-7.8% | $64.0M+220.0% | $20.0M0.0% | $20.0M |
| Income Tax | $330.0M+146.3% | $134.0M-3.6% | $139.0M-46.5% | $260.0M+471.4% | -$70.0M-218.2% | -$22.0M+50.0% | -$44.0M+35.3% | -$68.0M |
| Net Income | $1.2B+109.6% | $553.0M+1.1% | $547.0M-43.5% | $968.0M+488.8% | -$249.0M+37.6% | -$399.0M-250.0% | -$114.0M+49.8% | -$227.0M |
| EPS (Diluted) | $4.81 | N/A | $2.28-43.3% | $4.02+479.2% | $-1.06 | N/A | $-0.85+50.9% | $-1.73 |
EXEEZ Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $29.5B+4.4% | $28.3B+2.5% | $27.6B-0.6% | $27.8B-0.6% | $27.9B+0.1% | $27.9B+108.3% | $13.4B-1.6% | $13.6B |
| Current Assets | $4.4B+50.4% | $2.9B+30.1% | $2.2B-1.4% | $2.3B+7.5% | $2.1B+5.8% | $2.0B+11.1% | $1.8B-10.7% | $2.0B |
| Cash & Equivalents | $2.2B+260.4% | $616.0M+0.5% | $613.0M-16.1% | $731.0M+109.5% | $349.0M+10.1% | $317.0M-69.6% | $1.0B+2.5% | $1.0B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.3B-19.3% | $1.6B+55.8% | $1.0B-4.5% | $1.1B-21.1% | $1.4B+11.0% | $1.2B+369.7% | $261.0M-25.4% | $350.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $10.0B+2.7% | $9.7B+2.7% | $9.5B-3.8% | $9.8B-8.5% | $10.7B+4.0% | $10.3B+222.4% | $3.2B-1.1% | $3.2B |
| Current Liabilities | $4.0B+36.2% | $2.9B+4.9% | $2.8B-5.4% | $2.9B-18.5% | $3.6B+14.9% | $3.1B+247.4% | $899.0M-3.4% | $931.0M |
| Long-Term Debt | $4.1B-17.5% | $5.0B0.0% | $5.0B-2.2% | $5.1B-2.3% | $5.2B-0.9% | $5.3B+162.3% | $2.0B-0.2% | $2.0B |
| Total Equity | $19.5B+5.2% | $18.6B+2.4% | $18.1B+1.2% | $17.9B+4.3% | $17.2B-2.1% | $17.6B+72.4% | $10.2B-1.8% | $10.4B |
| Retained Earnings | $5.8B+19.8% | $4.8B+9.4% | $4.4B+4.6% | $4.2B+20.9% | $3.5B-10.0% | $3.9B-12.1% | $4.4B-4.2% | $4.6B |
EXEEZ Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.4B+151.3% | $956.0M-20.4% | $1.2B-9.2% | $1.3B+20.6% | $1.1B+186.9% | $382.0M-9.5% | $422.0M+101.9% | $209.0M |
| Capital Expenditures | $707.0M-4.6% | $741.0M-4.4% | $775.0M+18.0% | $657.0M+16.7% | $563.0M+5.0% | $536.0M+79.9% | $298.0M-1.3% | $302.0M |
| Free Cash Flow | $1.7B+688.4% | $215.0M-49.5% | $426.0M-35.9% | $665.0M+24.8% | $533.0M+446.1% | -$154.0M-224.2% | $124.0M+233.3% | -$93.0M |
| Investing Cash Flow | -$601.0M+26.3% | -$816.0M+3.4% | -$845.0M-43.0% | -$591.0M-16.6% | -$507.0M+46.3% | -$945.0M-196.2% | -$319.0M-19.9% | -$266.0M |
| Financing Cash Flow | -$192.0M-42.2% | -$135.0M+71.3% | -$471.0M-33.8% | -$352.0M+36.8% | -$557.0M-243.8% | -$162.0M-107.7% | -$78.0M+23.5% | -$102.0M |
| Dividends Paid | $141.0M+2.9% | $137.0M-60.7% | $349.0M+154.7% | $137.0M-3.5% | $142.0M+6.0% | $134.0M+71.8% | $78.0M-17.9% | $95.0M |
| Share Buybacks | $66.0M | $0-100.0% | $1.0M-99.0% | $99.0M | $0 | $0 | $0 | $0 |
EXEEZ Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 34.8%+12.0pp | 22.8%-1.7pp | 24.4%-9.9pp | 34.4%+46.6pp | -12.2%+7.1pp | -19.3%+4.6pp | -23.9%+34.3pp | -58.2% |
| Net Margin | 26.4%+9.5pp | 16.9%-1.5pp | 18.4%-7.8pp | 26.2%+37.6pp | -11.3%+8.6pp | -19.9%-2.3pp | -17.6%+27.4pp | -45.0% |
| Return on Equity | 5.9%+2.9pp | 3.0%-0.0pp | 3.0%-2.4pp | 5.4%+6.9pp | -1.5%+0.8pp | -2.3%-1.2pp | -1.1%+1.1pp | -2.2% |
| Return on Assets | 3.9%+2.0pp | 1.9%-0.0pp | 2.0%-1.5pp | 3.5%+4.4pp | -0.9%+0.5pp | -1.4%-0.6pp | -0.9%+0.8pp | -1.7% |
| Current Ratio | 1.11+0.1 | 1.01+0.2 | 0.81+0.0 | 0.78+0.2 | 0.59-0.1 | 0.64-1.4 | 2.00-0.2 | 2.16 |
| Debt-to-Equity | 0.21-0.1 | 0.270.0 | 0.280.0 | 0.29-0.0 | 0.300.0 | 0.30+0.1 | 0.200.0 | 0.19 |
| FCF Margin | 38.6%+32.0pp | 6.6%-7.8pp | 14.4%-3.7pp | 18.0%-6.3pp | 24.3%+32.0pp | -7.7%-26.8pp | 19.1%+37.6pp | -18.4% |
Frequently Asked Questions
What is Expand Energy Corporation's annual revenue?
Expand Energy Corporation (EXEEZ) reported $12.1B in total revenue for fiscal year 2025. This represents a 186.3% 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 Expand Energy Corporation's revenue growing?
Expand Energy Corporation (EXEEZ) revenue grew by 186.3% year-over-year, from $4.2B to $12.1B in fiscal year 2025.
Is Expand Energy Corporation profitable?
Yes, Expand Energy Corporation (EXEEZ) reported a net income of $1.8B in fiscal year 2025, with a net profit margin of 15.0%.
What is Expand Energy Corporation's EBITDA?
Expand Energy Corporation (EXEEZ) had EBITDA of $5.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Expand Energy Corporation have?
As of fiscal year 2025, Expand Energy Corporation (EXEEZ) had $616.0M in cash and equivalents against $5.0B in long-term debt.
What is Expand Energy Corporation's operating margin?
Expand Energy Corporation (EXEEZ) had an operating margin of 20.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Expand Energy Corporation's net profit margin?
Expand Energy Corporation (EXEEZ) had a net profit margin of 15.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Expand Energy Corporation's return on equity (ROE)?
Expand Energy Corporation (EXEEZ) has a return on equity of 9.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Expand Energy Corporation's free cash flow?
Expand Energy Corporation (EXEEZ) generated $1.8B in free cash flow during fiscal year 2025. This represents a 22887.5% 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 Expand Energy Corporation's operating cash flow?
Expand Energy Corporation (EXEEZ) generated $4.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Expand Energy Corporation's total assets?
Expand Energy Corporation (EXEEZ) had $28.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Expand Energy Corporation's capital expenditures?
Expand Energy Corporation (EXEEZ) invested $2.7B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Expand Energy Corporation's current ratio?
Expand Energy Corporation (EXEEZ) had a current ratio of 1.01 as of fiscal year 2025, which is considered adequate.
What is Expand Energy Corporation's debt-to-equity ratio?
Expand Energy Corporation (EXEEZ) had a debt-to-equity ratio of 0.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Expand Energy Corporation's return on assets (ROA)?
Expand Energy Corporation (EXEEZ) had a return on assets of 6.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Expand Energy Corporation's Piotroski F-Score?
Expand Energy Corporation (EXEEZ) has a Piotroski F-Score of 7 out of 7 computable signals; 2 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 Expand Energy Corporation's earnings high quality?
Expand Energy Corporation (EXEEZ) has an earnings quality ratio of 2.52x, 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 Expand Energy Corporation cover its interest payments?
Expand Energy Corporation (EXEEZ) has an interest coverage ratio of 10.5x, 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 Expand Energy Corporation?
Expand Energy Corporation (EXEEZ) scores 54 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite 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.