MARKETS / NYSE / Energy / Oil and gas / EQT

NYSE · CRUDE PETROLEUM & NATURAL GAS · LARGE CAP

EQT Corp. EQT

19 fiscal years on record · USD · FY2025 reported · SEC filings only

3 YEARS OF DIVIDEND GROWTH

Revenue

$8.6B

▲ 63.9% YoY

Net income

$2.0B

▲ 784.4% YoY

Free cash flow

$2.8B

▲ 395.0% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

EQT Corporation is a vertically integrated natural gas company with upstream, gathering and transmission operations focused in the Appalachian Basin. As of December 31, 2025, it had 28.0 Tcfe of proved natural gas, NGLs and oil reserves across approximately 2.3 million gross acres and approximately 2,945 miles of pipeline infrastructure. EQT employed 1,523 full-time equivalent employees as of December 31, 2025, none of whom were subject to a collective bargaining agreement. It has three reportable segments consisting of Upstream, Gathering and Transmission. The Gathering segment has gathering agreements with the Upstream segment and with third parties. For the year ended December 31, 2025, the Upstream segment accounted for approximately 73% of the Gathering segment's throughput and approximately 76% of the Gathering segment's operating revenues. The Transmission segment has transmission and storage agreements with the Upstream segment and with third parties, including local distribution companies, other producers, marketers and commercial and industrial users. EQT is a Pennsylvania corporation formed in 2008 in connection with a holding company reorganization of the former Equitable Resources, Inc.

Written from the business description in EQT Corp's annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.

Growth

USD 8.6B

Revenue, FY2025 · full 19-year series below

Revenue $B Net income $B

FY2025 · Revenue 8.6 · Net income 2.0

4B8B-1B-2B

2007201020132016201920222025

Compound annual growth

Revenue

+4.9%

+23.1%

+14.0%

+13.0%

Net income

+4.8%

+37.4%

EPS, diluted

−8.9%

+19.4%

+5.1%

Dividend / share

+5.0%

Returned to shareholders

−14.0%

+119.4%

+33.5%

+7.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +23.1% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

27 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 37.6% · Net 26.9%

20%40%60%-20%-40%

200720162025

ROE

FY2025 · ROE 9.2%

5%10%15%-5%-10%-15%

200720162025

Three returns, three denominators.

Return on equity9.2%

Return on assets5.7%

Return on capital employed8.5%

Gross margin82.3%

Operating margin37.6%

Net margin26.9%

EBITDAUSD 5.9B

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders

USD 389.6M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 2.8

1.0B2.0B-0.5B-1.0B

200720162025

Net buybacks $B Dividends $B

FY2025 · Dividends 0.4 · Net buybacks 0.0

0.25B0.50B-0.50B-1.00BDividendsNet buybacks

2007201020132016201920222025

Dividends paidUSD 389.6M

Net buybacksUSD 0.00

Share of profit19.1%

Consecutive raises3 years

USD 389.6M in dividends — 19% of the year's profit went back to shareholders.

Total assetsUSD 41.8B

EquityUSD 23.8B

CashUSD 110.8M

Gross debtUSD 7.8B

Net debtUSD 7.7B

Current ratio0.76×

Net debt stands at 32% of equity.

The 19-year record

19 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative—not applicable◌not available in our data

EQT, 19-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	8.6	5.3	6.9	7.5	6.8	3.1	4.4	4.7	3.1	1.4	2.3	2.5	1.9	1.4	1.3	1.4	1.3	1.6	1.4
Operating income $B	3.2	0.7	2.3	2.7	−1.4	−0.9	−1.2	−2.8	0.4	−0.8	0.6	0.9	0.7	0.4	0.8	0.5	0.4	0.5	0.4
EBITDA $B	5.9	2.8	4.0	4.4	0.3	0.5	0.4	−1.2	1.4	0.1	1.4	1.5	1.3	0.9	1.1	0.7	0.6	0.6	0.5
Income tax $B	0.7	0.0	0.4	0.6	−0.4	−0.3	−0.4	−0.7	−1.2	−0.4	0.1	0.2	0.2	0.1	0.2	0.1	0.1	0.2	0.1
Net income $B	2.0	0.2	1.7	1.8	−1.1	−1.0	−1.2	−2.2	1.5	−0.5	0.1	0.4	0.4	0.2	0.5	0.2	0.2	0.3	0.3
Free cash flow $B	2.8	0.6	1.2	2.1	0.6	0.5	0.2	−0.0	0.1	0.1	−1.2	−0.9	1.0	0.8	−0.4	−0.5	−0.2	−0.8	−0.3
EPS, diluted $	3.31	0.45	4.22	4.38	−3.54	−3.68	−4.79	−8.60	8.04	−2.71	0.56	2.54	2.57	1.22	3.19	1.57	1.19	2.00	2.10
Dividend / sh $	0.64	0.63	0.61	0.55	◌	0.03	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.88	0.88	0.88	0.88	0.88	0.88
Payout %	19	142	13	11	−0	−1	−3	−1	1	−4	21	5	5	◌	◌	◌	◌	◌	◌
ROE %	9.2	1.3	13.4	16.8	−11.9	−10.1	−11.8	−18.5	15.7	−8.3	1.8	9.0	10.2	◌	◌	◌	◌	◌	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Other companies filing in the same sector

XOM · SHEL · TTE · BP · CVX · MPC

Provenance

Company facts, as filed

How we verify · 0 failures in 73 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Nine checks were skipped: cost of revenue is not tagged before 2016. Two checks were skipped: the balance sheet is not tagged before 2008. One check was skipped: the share count is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityCrude Petroleum & Natural Gas

Listed onNYSE

Incorporated inPennsylvania

Fiscal year endsDecember 31

Data on record since2007

EQT Corp. EQT

What this company does

Growth↗ Share

Profitability↗ Share

Cash & shareholders↗ Share

The 19-year record

Other companies filing in the same sector

Company facts, as filed

Growth

Profitability

Cash & shareholders