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NYSE · Energy

EQT Corp (EQT)

As-reported financials and recent SEC filings for EQT Corp, latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About EQT Corp

EQT Corp is a natural gas company operating primarily in the Appalachian Basin. It engages in upstream activities including the production of natural gas, natural gas liquids, and oil, as well as gathering and transmission through its pipeline infrastructure. The company serves customers involved in power generation, industrial consumption, data centers, and LNG exports.

Snapshot

Revenue
$8.64B
Revenue growth (YoY)
63.9%
Net income
$2.04B
Diluted EPS
$3.31
Gross margin
82.3%
Operating margin
37.6%
Net margin
23.6%
FCF margin
32.8%
ROE
7.5%
P/E (TTM)
12.1×
Market cap
$32.53B
Debt / equity
0.3×

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at EQT

  • Revenue grew 63.9% to $8.6B in FY2025, faster than the 4.5% the year before.
  • Operating margin turned positive at 37.6% in FY2025, from a 20.0% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.8B, down 29.2% from Q2 FY2025.
  • Free cash flow was $2.8B in FY2025, 32.8% of revenue.
  • Net income rose 784.4% to $2.0B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where EQT’s fundamentals sit among the 61 oil and gas companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin82.3%
Highest of 10
Operating margin37.6%
90th percentile of 50
Net margin23.6%
84th percentile of 58
FCF margin32.8%
95th percentile of 20
Revenue growth (YoY)+63.9%
88th percentile of 59
ROE7.5%
50th percentile of 49
P/E (TTM)12.1×
41st percentile of 40
Debt / equity0.27×
25th percentile of 37
Short interest2.91d
29th percentile of 60

EQT’s gross margin of 82.3% is the highest of the 10 oil and gas companies reporting it. EQT’s FCF margin of 32.8% ranks in the 95th percentile of the 20 oil and gas companies reporting it. EQT’s operating margin of 37.6% ranks in the 90th percentile of the 50 oil and gas companies reporting it.

No open-market insider buys in the last 90 days; 3 insider sales totaling $5.4M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
2
+7 quant / multi-strat
Initiated / added
5
3 new, 2 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$658.9M
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ1 2026$362.8M5.7MAdded
AQR Capital ManagementquantQ1 2026$146.8M2.3MAdded
Citadel AdvisorsquantQ1 2026$76.9M1.2MReduced
Millennium ManagementquantQ1 2026$34.7M545.4KReduced
Renaissance TechnologiesquantQ1 2026$31.2M489.7KNew
Point72 Asset ManagementquantQ1 2026$4.1M64.3KReduced
Two Sigma InvestmentsquantQ1 2026$1.0M16.4KNew
Maverick CapitalQ1 2026$731,16011.5KNew
Gotham Asset ManagementQ1 2026$710,22211.2KReduced

No longer held by: Bridgewater Associates (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
3
$5.4M
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-08
filed 2026-06-09
Rice Toby Z.PRESIDENT & CEOSell1.7K$53.46$93K
2026-06-05
filed 2026-06-09
Rice Toby Z.PRESIDENT & CEOSell86.5K$54.17$4.7M
2026-06-05
filed 2026-06-09
Rice Toby Z.PRESIDENT & CEOSell10.5K$55.17$580K
2026-04-27
filed 2026-04-29
BAILEY VICKY ADirectorSell4.1K$59.80$246K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
20.7M
settled 2026-07-15
Change vs prior
-2.8%
vs previous settlement
Days to cover
2.91
at avg daily volume
Avg daily volume
7.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-1520.7M-2.8%2.91
2026-06-3021.3M-0.9%2.19
2026-06-1521.5M+0.3%3.69
2026-05-2921.4M+0.6%3.14
2026-05-1521.3M+6.6%3.26
2026-04-3020.0M+6.4%2.25
2026-04-1518.8M+2.6%2.66
2026-03-3118.3M-26.0%2.00

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$8.64B$5.27B$5.04B$12.11B$6.80B
Gross profit$7.11B$3.36B$2.89B$10.00B$4.86B
Operating income$3.25B$685.3M$2.31B$2.72B$-1.36B
Net income$2.04B$230.6M$1.74B$1.77B$-1.14B
Diluted EPS$3.31$0.45$4.22$4.38$-3.54

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$5.13B$2.83B$3.18B$3.47B$1.66B
Capital expenditure$2.29B$2.25B$2.02B$1.40B$1.06B
Free cash flow$2.84B$573.3M$1.16B$2.07B$607.3M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.81B-29.2%$211.4M$0.34
Q1 FY2026$3.38B94.2%$1.49B$2.36
Q4 FY2025$2.39B47.0%$677.1M$1.08
Q3 FY2025$1.96B52.6%$335.9M$0.53
Q2 FY2025$2.56B187.5%$784.1M$1.30
Q1 FY2025$1.74B33.4%$242.1M$0.40
Q4 FY2024$1.62B19.1%$418.4M$0.68
Q3 FY2024$1.28B28.1%$-300.8M$-0.54

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorEnergy
SIC industryCrude Petroleum & Natural Gas
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2018
SEC CIK33213

Recent SEC filings

10-K2026-02-18
View on EDGAR →
10-K2025-02-19
View on EDGAR →
10-Q2026-07-22
View on EDGAR →
10-Q2026-04-22
View on EDGAR →
10-Q2025-10-22
View on EDGAR →
10-Q2025-07-23
View on EDGAR →
8-K2026-07-21
View on EDGAR →
8-K2026-07-14
View on EDGAR →

Largest oil and gas peers

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EQT head to head

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.