What is Venture Global, Inc.'s earnings per share (EPS)?

Venture Global, Inc. (VG) reported diluted earnings per share of $0.86 for fiscal year 2025. This represents a 50.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Venture Global, Inc. Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Venture Global, Inc. (VG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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

Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Venture Global, Inc. has an operating margin of 37.5%, meaning the company retains $37 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 up from 35.5% the prior year.

Growth

100

Venture Global, Inc.'s revenue surged 176.9% year-over-year to $13.8B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Venture Global, Inc. has elevated debt relative to equity (D/E of 4.95), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 1/100, reflecting increased financial risk.

Liquidity

Venture Global, Inc.'s current ratio of 0.93 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 13/100, which could limit financial flexibility.

Cash Flow

While Venture Global, Inc. generated $6.6B in operating cash flow, capex of $13.4B consumed most of it, leaving -$6.8B in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

100

Venture Global, Inc. earns a strong 40.5% return on equity (ROE), meaning it generates $41 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 60.3% the prior year.

Altman Z-Score Distress

1.21

Venture Global, Inc. scores 1.21, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

6/9

Venture Global, Inc. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

2.40x

For every $1 of reported earnings, Venture Global, Inc. generates $2.40 in operating cash flow ($6.6B OCF vs $2.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.5x

Venture Global, Inc. earns $3.5 in operating income for every $1 of interest expense ($5.2B vs $1.5B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$13.8B

YoY+176.9%

Venture Global, Inc. generated $13.8B in revenue in fiscal year 2025. This represents an increase of 176.9% from the prior year.

EBITDA

$6.1B

YoY+192.4%

Venture Global, Inc.'s EBITDA was $6.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 192.4% from the prior year.

Net Income

$2.7B

YoY+56.5%

Venture Global, Inc. reported $2.7B in net income in fiscal year 2025. This represents an increase of 56.5% from the prior year.

EPS (Diluted)

$0.86

YoY+50.9%

Venture Global, Inc. earned $0.86 per diluted share (EPS) in fiscal year 2025. This represents an increase of 50.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$6.8B

YoY+41.2%

Venture Global, Inc. generated -$6.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 41.2% from the prior year.

Cash & Debt

$2.4B

YoY-34.7%

Venture Global, Inc. held $2.4B in cash against $33.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.03

Venture Global, Inc. paid $0.03 per share in dividends in fiscal year 2025.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

57.0%

YoY-15.8pp

Venture Global, Inc.'s gross margin was 57.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 15.8 percentage points from the prior year.

Operating Margin

37.5%

YoY+2.0pp

Venture Global, Inc.'s operating margin was 37.5% in fiscal year 2025, reflecting core business profitability. This is up 2.0 percentage points from the prior year.

Net Margin

19.9%

YoY-15.3pp

Venture Global, Inc.'s net profit margin was 19.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 15.3 percentage points from the prior year.

Return on Equity

40.5%

YoY-19.7pp

Venture Global, Inc.'s ROE was 40.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 19.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$344.0M

YoY-45.8%

Venture Global, Inc. invested $344.0M in research and development in fiscal year 2025. This represents a decrease of 45.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$13.4B

YoY-2.6%

Venture Global, Inc. invested $13.4B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 2.6% from the prior year.

VG Income Statement

Metric	FY25	FY24	FY23
Revenue	$13.8B+176.9%	$5.0B-37.0%	$7.9B
Cost of Revenue	$5.9B+338.2%	$1.4B-19.8%	$1.7B
Gross Profit	$7.8B+116.8%	$3.6B-41.7%	$6.2B
R&D Expenses	$344.0M-45.8%	$635.0M+29.6%	$490.0M
SG&A Expenses	$433.0M+38.8%	$312.0M+39.3%	$224.0M
Operating Income	$5.2B+192.5%	$1.8B-63.6%	$4.8B
Interest Expense	$1.5B+149.0%	$584.0M-8.9%	$641.0M
Income Tax	$630.0M+44.2%	$437.0M-46.4%	$816.0M
Net Income	$2.7B+56.5%	$1.7B-51.7%	$3.6B
EPS (Diluted)	$0.86+50.9%	$0.57-54.4%	$1.25

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$4.4B+33.5%	$3.3B+7.4%	$3.1B+7.2%	$2.9B+89.9%	$1.5B+64.6%	$926.0M-16.4%	$1.1B-21.6%	$1.4B
Cost of Revenue	$2.1B+48.0%	$1.4B-2.2%	$1.4B+34.0%	$1.1B+155.8%	$414.0M+52.2%	$272.0M-9.3%	$300.0M-17.8%	$365.0M
Gross Profit	$2.4B+23.2%	$1.9B+15.4%	$1.7B-8.3%	$1.8B+65.3%	$1.1B+69.7%	$654.0M-19.1%	$808.0M-23.0%	$1.0B
R&D Expenses	$52.0M-1.9%	$53.0M-7.0%	$57.0M-68.7%	$182.0M+46.8%	$124.0M-20.5%	$156.0M-10.3%	$174.0M-3.9%	$181.0M
SG&A Expenses	$120.0M+14.3%	$105.0M+1.9%	$103.0M-1.9%	$105.0M+19.3%	$88.0M+14.3%	$77.0M+2.7%	$75.0M+4.2%	$72.0M
Operating Income	$1.7B+30.2%	$1.3B+27.2%	$1.0B-3.9%	$1.1B+81.8%	$594.0M+214.3%	$189.0M-47.9%	$363.0M-41.2%	$617.0M
Interest Expense	$447.0M+6.2%	$421.0M+35.8%	$310.0M+12.3%	$276.0M+135.9%	$117.0M-8.6%	$128.0M-16.3%	$153.0M-17.7%	$186.0M
Income Tax	$276.0M+217.2%	$87.0M-25.0%	$116.0M-23.2%	$151.0M-39.1%	$248.0M+417.9%	-$78.0M-184.8%	$92.0M-47.4%	$175.0M
Net Income	$1.2B+116.5%	$550.0M+15.8%	$475.0M-8.1%	$517.0M-47.8%	$990.0M+436.7%	-$294.0M-183.5%	$352.0M-49.6%	$698.0M
EPS (Diluted)	N/A	$0.16+14.3%	$0.14-6.7%	$0.15	N/A	$-0.15-225.0%	$0.12-52.0%	$0.25

VG Balance Sheet

Metric	FY25	FY24	FY23
Total Assets	$53.4B+22.9%	$43.5B	N/A
Current Assets	$4.0B-11.4%	$4.6B	N/A
Cash & Equivalents	$2.4B-34.7%	$3.6B-38.6%	$5.9B
Inventory	$253.0M+48.0%	$171.0M	N/A
Accounts Receivable	$918.0M+152.2%	$364.0M	N/A
Goodwill	N/A	N/A	N/A
Total Liabilities	$41.5B+16.4%	$35.6B	N/A
Current Liabilities	$4.3B+22.6%	$3.5B	N/A
Long-Term Debt	$33.4B+14.8%	$29.1B	N/A
Total Equity	$6.7B+132.8%	$2.9B	N/A
Retained Earnings	$4.7B+80.8%	$2.6B	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$53.4B+6.7%	$50.1B+7.7%	$46.5B+3.2%	$45.1B+3.6%	$43.5B	N/A	N/A	N/A
Current Assets	$4.0B+24.0%	$3.3B-18.1%	$4.0B-18.7%	$4.9B+7.3%	$4.6B	N/A	N/A	N/A
Cash & Equivalents	$2.4B+25.3%	$1.9B-16.4%	$2.2B-37.7%	$3.6B-0.1%	$3.6B-36.0%	$5.6B+26.3%	$4.5B-12.3%	$5.1B
Inventory	$253.0M+11.5%	$227.0M+23.4%	$184.0M-2.6%	$189.0M+10.5%	$171.0M	N/A	N/A	N/A
Accounts Receivable	$918.0M+45.0%	$633.0M-5.9%	$673.0M+5.2%	$640.0M+75.8%	$364.0M	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$41.5B+5.6%	$39.3B+8.7%	$36.1B+2.8%	$35.1B-1.3%	$35.6B	N/A	N/A	N/A
Current Liabilities	$4.3B+10.7%	$3.9B+37.3%	$2.9B+1.2%	$2.8B-20.3%	$3.5B	N/A	N/A	N/A
Long-Term Debt	$33.4B+5.2%	$31.7B+6.6%	$29.8B+2.2%	$29.1B+0.2%	$29.1B	N/A	N/A	N/A
Total Equity	$6.7B+18.5%	$5.7B+8.0%	$5.3B+7.9%	$4.9B+68.5%	$2.9B	N/A	N/A	N/A
Retained Earnings	$4.7B+27.8%	$3.7B+11.7%	$3.3B+12.5%	$2.9B+12.6%	$2.6B	N/A	N/A	N/A

VG Cash Flow Statement

Metric	FY25	FY24	FY23
Operating Cash Flow	$6.6B+205.5%	$2.1B-52.8%	$4.5B
Capital Expenditures	$13.4B-2.6%	$13.7B+69.5%	$8.1B
Free Cash Flow	-$6.8B+41.2%	-$11.6B-226.7%	-$3.5B
Investing Cash Flow	-$13.2B+6.6%	-$14.2B-62.3%	-$8.7B
Financing Cash Flow	$5.5B-49.2%	$10.8B+40.8%	$7.6B
Dividends Paid	$465.0M+234.5%	$139.0M-15.2%	$164.0M
Share Buybacks	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$2.1B+12.1%	$1.9B+29.1%	$1.5B+30.9%	$1.1B+65.5%	$673.0M+140.4%	$280.0M-49.8%	$558.0M-12.5%	$638.0M
Capital Expenditures	$3.6B+10.0%	$3.3B+10.5%	$3.0B-14.0%	$3.5B-5.3%	$3.7B-3.8%	$3.8B+17.0%	$3.3B+8.2%	$3.0B
Free Cash Flow	-$1.5B-7.3%	-$1.4B+7.3%	-$1.5B+35.3%	-$2.4B+21.2%	-$3.0B+15.2%	-$3.5B-30.8%	-$2.7B-13.8%	-$2.4B
Investing Cash Flow	-$3.6B-14.8%	-$3.2B-8.1%	-$2.9B+15.4%	-$3.5B+6.8%	-$3.7B+3.3%	-$3.9B-11.7%	-$3.4B-9.7%	-$3.1B
Financing Cash Flow	$1.4B-25.9%	$1.9B+424.7%	$364.0M-79.5%	$1.8B-12.5%	$2.0B-57.2%	$4.7B+110.0%	$2.3B+31.5%	$1.7B
Dividends Paid	$42.0M-76.1%	$176.0M+208.8%	$57.0M-70.0%	$190.0M+239.3%	$56.0M+3.7%	$54.0M+285.7%	$14.0M-6.7%	$15.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VG Financial Ratios

Metric	FY25	FY24	FY23
Gross Margin	57.0%-15.8pp	72.8%-5.9pp	78.7%
Operating Margin	37.5%+2.0pp	35.5%-26.0pp	61.4%
Net Margin	19.9%-15.3pp	35.1%-10.7pp	45.8%
Return on Equity	40.5%-19.7pp	60.3%	N/A
Return on Assets	5.1%+1.1pp	4.0%	N/A
Current Ratio	0.93-0.4	1.29	N/A
Debt-to-Equity	4.95-5.1	10.04	N/A
FCF Margin	-49.4%+183.3pp	-232.7%-187.8pp	-44.8%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	53.8%-4.5pp	58.3%+4.1pp	54.2%-9.2pp	63.4%-9.4pp	72.8%+2.2pp	70.6%-2.3pp	72.9%-1.3pp	74.2%
Operating Margin	38.6%-1.0pp	39.6%+6.2pp	33.5%-3.8pp	37.3%-1.7pp	39.0%+18.6pp	20.4%-12.3pp	32.8%-10.9pp	43.6%
Net Margin	26.8%+10.3pp	16.5%+1.2pp	15.3%-2.5pp	17.9%-47.1pp	65.0%+96.7pp	-31.8%-63.5pp	31.8%-17.6pp	49.4%
Return on Equity	17.7%+8.0pp	9.7%+0.7pp	9.0%-1.6pp	10.6%-23.6pp	34.2%	N/A	N/A	N/A
Return on Assets	2.2%+1.1pp	1.1%+0.1pp	1.0%-0.1pp	1.1%-1.1pp	2.3%	N/A	N/A	N/A
Current Ratio	0.93+0.1	0.83-0.6	1.39-0.3	1.73+0.4	1.29	N/A	N/A	N/A
Debt-to-Equity	4.95-0.6	5.58-0.1	5.65-0.3	5.97-4.1	10.04	N/A	N/A	N/A
FCF Margin	-34.1%+8.3pp	-42.4%+6.7pp	-49.1%+32.2pp	-81.3%+114.7pp	-195.9%+184.5pp	-380.4%-137.4pp	-243.0%-75.7pp	-167.3%

Note: The current ratio is below 1.0 (0.93), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Venture Global, Inc.'s annual revenue?

Venture Global, Inc. (VG) reported $13.8B in total revenue for fiscal year 2025. This represents a 176.9% 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 Venture Global, Inc.'s revenue growing?

Venture Global, Inc. (VG) revenue grew by 176.9% year-over-year, from $5.0B to $13.8B in fiscal year 2025.

Is Venture Global, Inc. profitable?

Yes, Venture Global, Inc. (VG) reported a net income of $2.7B in fiscal year 2025, with a net profit margin of 19.9%.

What is Venture Global, Inc.'s EBITDA?

Venture Global, Inc. (VG) had EBITDA of $6.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Venture Global, Inc. have?

As of fiscal year 2025, Venture Global, Inc. (VG) had $2.4B in cash and equivalents against $33.4B in long-term debt.

What is Venture Global, Inc.'s gross margin?

Venture Global, Inc. (VG) had a gross margin of 57.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Venture Global, Inc.'s operating margin?

Venture Global, Inc. (VG) had an operating margin of 37.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Venture Global, Inc.'s net profit margin?

Venture Global, Inc. (VG) had a net profit margin of 19.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Venture Global, Inc. pay dividends?

Yes, Venture Global, Inc. (VG) paid $0.03 per share in dividends during fiscal year 2025.

What is Venture Global, Inc.'s return on equity (ROE)?

Venture Global, Inc. (VG) has a return on equity of 40.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Venture Global, Inc.'s free cash flow?

Venture Global, Inc. (VG) generated -$6.8B in free cash flow during fiscal year 2025. This represents a 41.2% 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 Venture Global, Inc.'s operating cash flow?

Venture Global, Inc. (VG) generated $6.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Venture Global, Inc.'s total assets?

Venture Global, Inc. (VG) had $53.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Venture Global, Inc.'s capital expenditures?

Venture Global, Inc. (VG) invested $13.4B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Venture Global, Inc. spend on research and development?

Venture Global, Inc. (VG) invested $344.0M in research and development during fiscal year 2025.

What is Venture Global, Inc.'s current ratio?

Venture Global, Inc. (VG) had a current ratio of 0.93 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Venture Global, Inc.'s debt-to-equity ratio?

Venture Global, Inc. (VG) had a debt-to-equity ratio of 4.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Venture Global, Inc.'s return on assets (ROA)?

Venture Global, Inc. (VG) had a return on assets of 5.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Venture Global, Inc.'s Altman Z-Score?

Venture Global, Inc. (VG) has an Altman Z-Score of 1.21, placing it in the Distress Zone (elevated bankruptcy 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 Venture Global, Inc.'s Piotroski F-Score?

Venture Global, Inc. (VG) has a Piotroski F-Score of 6 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 Venture Global, Inc.'s earnings high quality?

Venture Global, Inc. (VG) has an earnings quality ratio of 2.40x, 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 Venture Global, Inc. cover its interest payments?

Venture Global, Inc. (VG) has an interest coverage ratio of 3.5x, 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 Venture Global, Inc.?

Venture Global, Inc. (VG) scores 52 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.