MARKETS / NASDAQ / EXE

NASDAQ · CRUDE PETROLEUM & NATURAL GAS · LARGE CAP

Expand Energy Corp. EXE

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

Revenue

$12.1B

▲ 186.3% YoY

Net income

$1.8B

Free cash flow

$1.8B

▲ 22887.5% YoY

In brief

What this company does

Expand Energy Corporation develops natural gas, oil, and NGL production. During 2025, the company operated 5,800 gross wells and held a non-operating working interest in 800 gross wells. As of December 31, 2025, its total proved natural gas, oil, and NGL reserves were 25,880 Bcfe. The company had approximately 1,600 employees as of December 31, 2025. It focuses its acquisition, exploration, development, and production efforts in three geographic operating areas: Haynesville, in Louisiana and Texas; Northeast Appalachia, in Pennsylvania; and Southwest Appalachia, in Ohio and West Virginia. The company's marketing operations provide natural gas, oil, and NGL marketing services, including commodity price structuring, gathering, hauling, storage, processing and transportation services, contract administration, and nomination services. The company also operates drilling rigs and provides oilfield products and services, principally serving its own exploration and production operations through vertical integration.

Written from the business description in EXPAND ENERGY 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 12.1B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 12.1 · Net income 1.8

Compound annual growth

Revenue

+1.1%

+18.3%

−0.5%

+1.7%

Net income

−28.3%

+0.2%

Returned to shareholders

−27.7%

+22.0%

+10.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +18.3% a year over five years.

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

15 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 20.4% · Net 15.0%

ROE

FY2025 · ROE 10.1%

Gross margin—

Operating margin20.4%

Net margin15.0%

Return on assets6.5%

EBITDAUSD 5.5B

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders

USD 865.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 1.8

Net buybacks $B Dividends $B

FY2025 · Dividends 0.8 · Net buybacks 0.1

Dividends paidUSD 765.0M

Net buybacksUSD 100.0M

Share of profit47.6%

Consecutive raises—

USD 765.0M in dividends and USD 100.0M in buybacks — 48% of the year's profit went back to shareholders.

Total assetsUSD 28.3B

EquityUSD 18.6B

CashUSD 616.0M

Gross debtUSD 5.0B

Net debtUSD 4.4B

Current ratio1.01×

Net debt stands at 24% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	12.1	4.2	8.7	11.7	5.2	8.5	5.2	10.0	7.9	12.8	23.1	19.1	12.3	11.6	9.4	7.7	11.6	7.8
Operating income $B	2.5	−0.8	3.1	3.8	−8.7	−0.0	0.4	−0.1	−4.4	−18.9	3.5	2.1	−1.7	2.9	2.8	−8.9	1.5	2.6
EBITDA $B	5.5	0.9	4.7	5.5	−7.6	2.2	2.1	1.6	−3.3	−16.7	6.4	5.0	1.1	4.8	4.4	−7.3	3.6	4.6
Income tax $B	0.5	−0.1	0.7	−1.3	−0.0	−0.3	−0.0	0.0	−0.2	−4.5	1.1	0.5	−0.4	1.1	1.1	−3.5	0.4	0.9
Net income $B	1.8	−0.7	2.4	4.9	−9.7	−0.3	0.2	−0.5	−4.4	−14.6	1.9	0.7	−0.8	1.7	1.8	−5.8	0.6	1.5
Free cash flow $B	1.8	0.0	0.6	2.3	0.0	·	·	·	−1.6	−2.4	−2.0	−2.6	−11.3	−0.4	−1.8	−1.7	−4.3	·
EPS, diluted $	7.57	−4.55	16.92	33.36	−998.26	−49.97	29.26	−0.70	−6.43	−22.26	1.87	0.73	−1.46	2.32	2.51	−9.57	0.93	2.63
Dividend / sh $	·	·	·	·	·	·	·	0.00	0.00	0.09	0.35	0.35	0.35	0.34	0.30	0.30	0.29	0.26
Payout %	42	−54	20	25	−0	−0	·	−0	−0	−1	12	32	−30	12	11	−3	25	8
ROE %	10.1	−5.0	24.4	66.7	·	−9.5	28.3	·	−1088.0	−153.0	11.7	4.6	−4.8	10.9	13.3	−41.0	3.5	·

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

Provenance

Company facts, as filed

How we verify · 0 failures in 73 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 3 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityCrude Petroleum & Natural Gas

Listed onNASDAQ

Incorporated inOklahoma

Fiscal year endsDecember 31

Data on record since2007