Cheniere Energy Financials
This page shows Cheniere Energy (LNG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
Cheniere’s margin-rich earnings engine is now rebuilding equity while much of its cash is still absorbed by capex and buybacks.
In FY2025, free cash flow was only about a third of net income—$2.5B versus$6.8B . Because capital spending reached$3.1B , the business converted strong accounting profit into much less surplus cash, implying the latest year was more reinvestment-heavy and less distributable than the income statement alone suggests.
Over the past two years, debt-to-equity moved from 4.6x to 2.8x, a large shift for a company with substantial fixed obligations. Because equity also reached
Latest-year liquidity is tighter than profitability alone implies, with the current ratio below 1.0x and cash down to
Financial Health Signals
Scored against energy 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 Cheniere Energy'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.
Cheniere Energy scores 2.34, placing it in the grey zone between 1.81 and 2.99. 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.
Cheniere Energy passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Cheniere Energy generates $0.82 in operating cash flow ($5.5B OCF vs $6.8B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Cheniere Energy earns $9.6 in operating income for every $1 of interest expense ($9.1B vs $948.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Cheniere Energy generated $20.0B in revenue in fiscal year 2025. This represents an increase of 27.2% from the prior year.
Cheniere Energy's EBITDA was $10.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 42.1% from the prior year.
Cheniere Energy reported $6.8B in net income in fiscal year 2025. This represents an increase of 51.2% from the prior year.
Cheniere Energy earned $24.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 69.9% from the prior year.
Cash & Balance Sheet
Cheniere Energy generated $2.5B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 22.0% from the prior year.
Cheniere Energy held $1.1B in cash against $22.5B in long-term debt as of fiscal year 2025.
Margins & Returns
Cheniere Energy's gross margin was 64.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.5 percentage points from the prior year.
Cheniere Energy's operating margin was 45.6% in fiscal year 2025, reflecting core business profitability. This is up 6.6 percentage points from the prior year.
Cheniere Energy's net profit margin was 34.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.4 percentage points from the prior year.
Cheniere Energy's ROE was 85.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 7.0 percentage points from the prior year.
Capital Allocation
Cheniere Energy spent $2.7B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 20.4% from the prior year.
Cheniere Energy invested $3.1B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 37.5% from the prior year.
LNG Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.9B+7.7% | $5.5B+22.7% | $4.4B-4.3% | $4.6B-14.8% | $5.4B+22.7% | $4.4B+17.9% | $3.8B+15.7% | $3.3B |
| Cost of Revenue | $8.3B+1068.3% | $712.0M-59.3% | $1.8B+56.7% | $1.1B-68.7% | $3.6B+104.5% | $1.7B+39.1% | $1.3B+60.1% | $784.0M |
| Gross Profit | -$2.5B-151.7% | $4.7B+76.1% | $2.7B-23.6% | $3.5B+88.1% | $1.9B-30.4% | $2.7B+7.3% | $2.5B+1.7% | $2.5B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $136.0M+56.3% | $87.0M+7.4% | $81.0M-18.2% | $99.0M-14.7% | $116.0M-18.3% | $142.0M+43.4% | $99.0M0.0% | $99.0M |
| Operating Income | -$3.5B-191.7% | $3.8B+109.4% | $1.8B-28.2% | $2.5B+163.3% | $961.0M-44.7% | $1.7B+5.6% | $1.6B+3.7% | $1.6B |
| Interest Expense | $255.0M+3.7% | $246.0M+4.2% | $236.0M-0.4% | $237.0M+3.5% | $229.0M-4.6% | $240.0M-2.8% | $247.0M-3.9% | $257.0M |
| Income Tax | -$341.0M-153.4% | $638.0M+110.6% | $303.0M-28.9% | $426.0M+252.1% | $121.0M-53.6% | $261.0M+13.0% | $231.0M+10.0% | $210.0M |
| Net Income | -$3.5B-193.0% | $3.8B+259.0% | $1.0B-35.5% | $1.6B+360.6% | $353.0M-84.1% | $2.2B+148.3% | $893.0M+1.5% | $880.0M |
| EPS (Diluted) | $-16.65 | N/A | $4.75-34.9% | $7.30+365.0% | $1.57 | N/A | $3.93+2.3% | $3.84 |
LNG Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $46.8B-2.2% | $47.9B+6.2% | $45.1B+1.2% | $44.6B+2.4% | $43.5B-0.7% | $43.9B+1.8% | $43.1B+1.9% | $42.3B |
| Current Assets | $4.2B+12.6% | $3.7B+5.5% | $3.5B-5.5% | $3.7B-21.6% | $4.7B-1.5% | $4.8B+7.8% | $4.5B+2.7% | $4.3B |
| Cash & Equivalents | $1.3B+18.7% | $1.1B+2.2% | $1.1B-34.8% | $1.6B-34.4% | $2.5B-4.8% | $2.6B-0.9% | $2.7B+9.0% | $2.4B |
| Inventory | $678.0M+29.4% | $524.0M+14.4% | $458.0M-5.0% | $482.0M-8.2% | $525.0M+4.8% | $501.0M+27.2% | $394.0M+1.8% | $387.0M |
| Accounts Receivable | $1.1B-12.4% | $1.2B+54.8% | $799.0M | N/A | N/A | $661.0M | N/A | N/A |
| Goodwill | N/A | $77.0M | N/A | N/A | N/A | $77.0M | N/A | N/A |
| Total Liabilities | $38.2B+9.7% | $34.8B+3.5% | $33.6B+1.1% | $33.3B-0.5% | $33.4B-1.0% | $33.8B+0.2% | $33.7B+0.1% | $33.7B |
| Current Liabilities | $7.3B+85.7% | $3.9B+4.7% | $3.7B-1.0% | $3.8B-5.1% | $4.0B-10.4% | $4.4B+6.9% | $4.2B-1.9% | $4.2B |
| Long-Term Debt | $22.1B-1.6% | $22.5B+2.5% | $22.0B-0.2% | $22.0B-2.2% | $22.5B-0.2% | $22.6B0.0% | $22.5B-0.2% | $22.6B |
| Total Equity | $3.8B-52.6% | $7.9B+17.3% | $6.7B+0.6% | $6.7B+20.2% | $5.6B-2.1% | $5.7B+11.7% | $5.1B+14.3% | $4.5B |
| Retained Earnings | $8.6B-29.6% | $12.2B+21.6% | $10.1B+11.6% | $9.0B+18.4% | $7.6B+3.2% | $7.4B+13.3% | $6.5B+15.9% | $5.6B |
LNG Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.1B-47.4% | $2.1B+44.2% | $1.4B+71.5% | $831.0M-32.3% | $1.2B-25.2% | $1.6B+18.0% | $1.4B+24.6% | $1.1B |
| Capital Expenditures | $736.0M-1.1% | $744.0M+8.3% | $687.0M-32.9% | $1.0B+64.4% | $623.0M+9.5% | $569.0M+10.3% | $516.0M+2.6% | $503.0M |
| Free Cash Flow | $344.0M-73.8% | $1.3B+77.6% | $738.0M+482.4% | -$193.0M-131.9% | $605.0M-43.6% | $1.1B+22.5% | $875.0M+42.7% | $613.0M |
| Investing Cash Flow | -$742.0M+0.9% | -$749.0M-8.9% | -$688.0M+32.9% | -$1.0B-86.9% | -$549.0M+4.2% | -$573.0M-10.0% | -$521.0M-0.4% | -$519.0M |
| Financing Cash Flow | -$149.0M+86.7% | -$1.1B+17.5% | -$1.4B-106.9% | -$656.0M+34.2% | -$997.0M-4.1% | -$958.0M-28.2% | -$747.0M+69.9% | -$2.5B |
| Dividends Paid | $117.0M-1.7% | $119.0M+9.2% | $109.0M-1.8% | $111.0M-0.9% | $112.0M0.0% | $112.0M+14.3% | $98.0M+1.0% | $97.0M |
| Share Buybacks | $537.0M-48.2% | $1.0B+4.0% | $997.0M+204.9% | $327.0M-9.9% | $363.0M+29.2% | $281.0M-0.4% | $282.0M-44.7% | $510.0M |
LNG Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -41.8%-128.7pp | 86.9%+26.3pp | 60.6%-15.3pp | 75.9%+41.5pp | 34.4%-26.2pp | 60.6%-6.0pp | 66.6%-9.2pp | 75.9% |
| Operating Margin | -59.4%-129.2pp | 69.8%+28.9pp | 40.9%-13.6pp | 54.5%+36.9pp | 17.6%-21.6pp | 39.2%-4.6pp | 43.8%-5.1pp | 48.9% |
| Net Margin | -59.7%-128.8pp | 69.1%+45.5pp | 23.6%-11.4pp | 35.0%+28.6pp | 6.5%-43.5pp | 50.0%+26.3pp | 23.7%-3.3pp | 27.1% |
| Return on Equity | -93.3%-140.8pp | 47.6%+32.0pp | 15.5%-8.7pp | 24.2%+17.9pp | 6.3%-32.6pp | 38.9%+21.4pp | 17.5%-2.2pp | 19.7% |
| Return on Assets | -7.5%-15.4pp | 7.9%+5.5pp | 2.3%-1.3pp | 3.6%+2.8pp | 0.8%-4.2pp | 5.1%+3.0pp | 2.1%0.0pp | 2.1% |
| Current Ratio | 0.57-0.4 | 0.940.0 | 0.94-0.0 | 0.98-0.2 | 1.19+0.1 | 1.080.0 | 1.07+0.0 | 1.02 |
| Debt-to-Equity | 5.90+3.1 | 2.84-0.4 | 3.25-0.0 | 3.28-0.8 | 4.03+0.1 | 3.96-0.5 | 4.42-0.6 | 5.06 |
| FCF Margin | 5.9%-18.2pp | 24.1%+7.4pp | 16.6%+20.8pp | -4.2%-15.3pp | 11.1%-13.1pp | 24.2%+0.9pp | 23.3%+4.4pp | 18.9% |
Note: The current ratio is below 1.0 (0.94), 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 (LNG) reported $20.0B in total revenue for fiscal year 2025. This represents a 27.2% 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 (LNG) revenue grew by 27.2% year-over-year, from $15.7B to $20.0B in fiscal year 2025.
Is Cheniere Energy profitable?
Yes, Cheniere Energy (LNG) reported a net income of $6.8B in fiscal year 2025, with a net profit margin of 34.0%.
What is Cheniere Energy's EBITDA?
Cheniere Energy (LNG) had EBITDA of $10.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cheniere Energy have?
As of fiscal year 2025, Cheniere Energy (LNG) had $1.1B in cash and equivalents against $22.5B in long-term debt.
What is Cheniere Energy's gross margin?
Cheniere Energy (LNG) had a gross margin of 64.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cheniere Energy's operating margin?
Cheniere Energy (LNG) had an operating margin of 45.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cheniere Energy's net profit margin?
Cheniere Energy (LNG) had a net profit margin of 34.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cheniere Energy's return on equity (ROE)?
Cheniere Energy (LNG) has a return on equity of 85.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cheniere Energy's free cash flow?
Cheniere Energy (LNG) generated $2.5B in free cash flow during fiscal year 2025. This represents a -22.0% 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 Cheniere Energy's operating cash flow?
Cheniere Energy (LNG) generated $5.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cheniere Energy's total assets?
Cheniere Energy (LNG) had $47.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cheniere Energy's capital expenditures?
Cheniere Energy (LNG) invested $3.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Cheniere Energy's current ratio?
Cheniere Energy (LNG) had a current ratio of 0.94 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Cheniere Energy's debt-to-equity ratio?
Cheniere Energy (LNG) had a debt-to-equity ratio of 2.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cheniere Energy's return on assets (ROA)?
Cheniere Energy (LNG) had a return on assets of 14.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cheniere Energy's Altman Z-Score?
Cheniere Energy (LNG) has an Altman Z-Score of 2.34, 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 Cheniere Energy's Piotroski F-Score?
Cheniere Energy (LNG) has a Piotroski F-Score of 6 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 Cheniere Energy's earnings high quality?
Cheniere Energy (LNG) has an earnings quality ratio of 0.82x, considered mixed 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 (LNG) has an interest coverage ratio of 9.6x, 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 Cheniere Energy?
Cheniere Energy (LNG) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its energy 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.