Cheniere Energy, Inc. (LNG) financials
NYSE · Energy · Oil & Gas Midstream · 1,717 employees · CEO Jack A. Fusco
- Price
- $330.32 +3.57%
- Market cap
- $67.5B
- Enterprise value
- $92.1B
- Last report
- Q3 '26 filed 2026-10-29
- Next report
- 2027-02-25 EPS est. $5.87
Revenue (TTM)$24B+27.3% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)40.8%+10.7 pp vs a year agoOperating income $9.78B
Net income (TTM)$3.04B-24.1% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$5.7B+25.2% vs a year agoCapex $1.48B
Diluted EPS (TTM)$14.33-20.2% vs a year agoSum of the last 4 quarters
Net cash-$24.6B+1.7% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $67.5B EV $92.1B
- Revenue
- $24B Trailing 12 months
- Revenue growth
- +20% FY2026 consensus
- Profit margin
- 12.7% Net income / revenue, TTM
- P/E
- 22.9× Forward 27.5× (FY2026)
- P/S
- 2.8× Price / sales, TTM
- EV / EBITDA
- 11.0× TTM
- Free cash flow
- $5.7B Trailing 12 months
- Net income
- $3.04B Trailing 12 months
- Revenue estimate
- $23.5B FY2026 consensus
- Earnings
- 2027-02-25 Revenue est. $6.24B
- Dividend
- $2.22 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-29): revenue beat by 15.1%, EPS beat by 30.5%Revenue $6.17B vs $5.36B expected (+15.1%); EPS $5.65 vs $4.33 (+30.5%).
- Revenue growth accelerating: 39.0% year on yearQ3 '26 revenue $6.17B, against an average of 22.1% over the four quarters before.
- Operating margin 40.8% (TTM), +10.7 pp on a year agoOperating income grew 72.7% while revenue grew 27.3%.
- 78.4% of pre-tax profit is eaten by non-operating lossesPre-tax income $5.48B vs operating income $9.78B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Capex 6.2% of revenue (a year ago 3.0%)$1.48B invested in the last 4 quarters (+159.4% on a year earlier). Free cash flow $5.7B = 187.7% of net income.
- Returned $3.32B to shareholders = 58.3% of free cash flowBuybacks $2.86B (a year earlier $1.97B), dividends $466M, stock-based pay $112M (TTM).
- Diluted share count down 5.9% in a year207M diluted shares in Q3 '26, 220M a year earlier.
- Net debt $24.6BCash + short-term investments $1.66B, debt incl. leases $26.3B; a year ago net debt $25.1B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $6.17B | $4.44B | +39.0% |
| Gross margin | 31.0% | 60.6% | -29.6 pp |
| Operating income | $1.92B | $1.82B | +5.4% |
| Operating margin | 31.0% | 40.9% | -9.9 pp |
| Net income | $1.17B | $1.05B | +11.5% |
| Diluted EPS | $5.65 | $4.75 | +18.9% |
| Operating cash flow | $2.47B | $1.43B | +73.1% |
| Capex | $732M | -$1.65B | +144.4% |
| Free cash flow | $1.73B | $3.07B | -43.6% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $75M | $35M | +114.3% |
Reported vs consensus
2026-10-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $6.17B | $5.36B | +15.1% |
| EPS (as estimated) | $5.65 | $4.33 | +30.5% |
From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Liquefied Natural Gas | $6.1B | +41.8% | 98.8% | – | – | |
| Product and Service, Other | $40M | -61.9% | 0.6% | – | – | |
| Regasification Service | $34M | 0.0% | 0.6% | – | – |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Non-US | $259M | – | 100.0% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $7.18B
- Capex
- -$1.48B
- Buybacks
- -$2.86B
- Dividends
- -$466M
- Acquisitions
- -$122M
- Net debt issued
- $1.38B
- Stock-based compensation
- $112M
- Free cash flow
- $5.7B
- Returned to shareholders / FCF
- 58.3%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 22.9× | 13.4× 4 of 5 years | 4.2× – 26.4× |
| EV / EBITDA | 11.0× | 72.0× | 3.8× – 328.9× |
| EV / Sales | 3.8× | 3.3× | 1.9× – 4.6× |
| Price / FCF | 11.8× | 12.2× | 4.3× – 17.4× |
| Price / Book | 10.4× | 7.4× 3 of 5 years | 5.4× – 8.6× |
| FCF yield | 8.5% | 11.3% | 5.8% – 23.1% |
| Return on invested capital | 18.2% | 14.4% | 9.4% – 26.3% |
| Return on equity | 49.8% | 72.5% | -48.1% – 195.3% |
Analysts
Consensus target $310.60 (-6.0%)
range $283.00 – $340.00 · rating Buy
Strong buy1
Buy24
Hold2
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $23.5B | +19.5% | $12.03 | -50.1% | 27.5× | 3 |
| FY2027 | $23.7B | +0.8% | $19.93 | +65.6% | 16.6× | 9 |
| FY2028 | $25B | +5.7% | $17.30 | -13.2% | 19.1× | 8 |
| FY2029 | $24.8B | -0.7% | $16.37 | -5.4% | 20.2× | 5 |
| FY2030 | $24.7B | -0.6% | $16.51 | +0.9% | 20.0× | 5 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 267 figures Cheniere Energy, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts and Other Receivables, Net, Current | $1.42B | $1.32B | +7.3% | $1.38B | $727M | +89.8% |
| Accounts Payable, Current | $420M | $279M | +50.5% | $123M | $171M | -28.1% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.39B | $799M | +73.8% | $1.24B | $661M | +87.1% |
| Accrued Income Taxes | $207M | $115M | +80.0% | $90M | $472M | -80.9% |
| Accrued Liabilities, Current | $2.07B | $1.49B | +38.7% | $2.08B | $2.18B | -4.5% |
| Additional Paid in Capital | $4.62B | $4.51B | +2.4% | $4.52B | $4.45B | +1.6% |
| Amortization of Debt Issuance Costs and Discounts | $10M2026-06-30 | $10M | 0.0% | $38M | $42M | -9.5% |
| Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | $407M2025-12-31 | $168M | +142.3% | $407M | $168M | +142.3% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 02026-06-30 | – | – | 02023-12-31 | 300K | -100.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $53M | $28M | +89.3% | $122M | $121M | +0.8% |
| Assets | $48.8B | $45.1B | +8.3% | $47.9B | $43.9B | +9.2% |
| Assets, Current | $4.71B | $3.5B | +34.6% | $3.69B | $4.8B | -23.1% |
| Cash and Cash Equivalents, at Carrying Value | $1.66B | $1.08B | +54.7% | $1.1B | $2.64B | -58.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.06B | $1.4B | +47.1% | $1.58B | $3.19B | -50.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $537M | -$619M | +186.8% | -$1.61B | -$1.34B | -20.3% |
| Common Stock, Dividends, Per Share, Declared | – | – | – | $1.812024-12-31 | $1.62 | +11.4% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 480M | 480M | 0.0% | 480M | 480M | 0.0% |
| Common Stock, Shares, Issued | 280M | 279M | +0.1% | 279M | 279M | +0.2% |
| Common Stock, Value, Outstanding | $1M | $1M | 0.0% | $1M | $1M | 0.0% |
| Construction in Progress Expenditures Incurred but Not yet Paid | -$11M | $65M | -116.9% | $261M | $256M | +2.0% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $422M | $401M | +5.2% | $424M | $331M | +28.1% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent | $394M2025-12-31 | $325M | +21.2% | $394M | $325M | +21.2% |
| Contract with Customer, Liability | $268M | $305M | -12.1% | $272M | $318M | -14.5% |
| Contract with Customer, Liability, Revenue Recognized | $7M | $4M | +75.0% | $169M | $166M | +1.8% |
| Contribution of Property | $02025-12-31 | $0 | – | $0 | $34M | -100.0% |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | $3.21B | $1.75B | +83.3% | $7.15B | $6.02B | +18.8% |
| Costs and Expenses | $4.26B | $2.62B | +62.3% | $10.9B | $9.58B | +13.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$383M | $471M | -181.3% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $11M | $8M | +37.5% |
| Current Income Tax Expense (Benefit) | – | – | – | -$371M | $481M | -177.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1M | $2M | -50.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $207M | $183M | +13.1% | $182M | $192M | -5.2% |
| Debt Issuance Costs, Net | $66M2025-12-31 | $65M | +1.5% | $66M | $65M | +1.5% |
| Debt, Current | $1.35B | $605M | +123.0% | $306M | $351M | -12.8% |
| Debt, Long-term and Short-term, Combined Amount | $24.1B | $22.7B | +6.1% | $23B | $23.1B | -0.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.85B | $319M | +478.7% |
| Deferred Federal, State and Local, Tax Expense (Benefit) | – | – | – | $1.86B | $330M | +463.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $1M | $2M | -50.0% |
| Deferred Income Tax Assets, Net | $12M2026-03-31 | $18M | -33.3% | $12M | $19M | -36.8% |
| Deferred Income Tax Expense (Benefit) | $69M | $773M | -91.1% | $1.86B | $330M | +463.3% |
| Deferred Income Tax Liabilities, Net | $3.76B | $3.08B | +22.3% | $3.7B | $1.86B | +99.2% |
| Deferred Revenue, Current | $158M | $176M | -10.2% | $150M | $163M | -8.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $12M | $9M | +33.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $1.26B2025-12-31 | $1.61B | -22.1% | $1.26B | $1.61B | -22.1% |
| Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $245M2025-12-31 | $313M | -21.7% | $245M | $313M | -21.7% |
| Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $119M2025-12-31 | $119M | 0.0% | $119M | $119M | 0.0% |
| Deferred Tax Assets, Other | $447M2025-12-31 | $306M | +46.1% | $447M | $306M | +46.1% |
| Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $02025-12-31 | $383M | -100.0% | $0 | $383M | -100.0% |
| Deferred Tax Assets, Tax Credit Carryforwards, Other | $50M2025-12-31 | $40M | +25.0% | $50M | $40M | +25.0% |
| Deferred Tax Assets, Valuation Allowance | $170M2025-12-31 | $110M | +54.5% | $170M | $110M | +54.5% |
| Deferred Tax Liabilities, Derivatives | $696M2025-12-31 | $108M | +544.4% | $696M | $108M | +544.4% |
| Deferred Tax Liabilities, Gross | $4.94B2025-12-31 | $3.45B | +43.3% | $4.94B | $3.45B | +43.3% |
| Deferred Tax Liabilities, Investment in Noncontrolled Affiliates | $375M2025-12-31 | $305M | +23.0% | $375M | $305M | +23.0% |
| Deferred Tax Liabilities, Leasing Arrangements | $553M2025-12-31 | $548M | +0.9% | $553M | $548M | +0.9% |
| Deferred Tax Liabilities, Net | $3.69B2025-12-31 | $1.84B | +100.7% | $3.69B | $1.84B | +100.7% |
| Deferred Tax Liabilities, Other | $42M2025-12-31 | $30M | +40.0% | $42M | $30M | +40.0% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $3.28B2025-12-31 | $2.46B | +33.3% | $3.28B | $2.46B | +33.3% |
| Defined Contribution Plan, Cost | – | – | – | $20M | $18M | +11.1% |
| Defined Contribution Plan, Employer Discretionary Contribution Amount | – | – | – | $0 | $0 | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01