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EXPAND ENERGY Corp (EXE)

As-reported financials and recent SEC filings for EXPAND ENERGY 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 EXPAND ENERGY Corp

Expand Energy Corp is an independent natural gas producer operating primarily in the United States. The company develops and produces natural gas, oil, and natural gas liquids from shale formations in Louisiana, Texas, Pennsylvania, West Virginia, and Ohio. It holds working interests in approximately 6,600 wells and focuses on supplying energy to domestic and international markets.

Snapshot

Revenue
$12.12B
Revenue growth (YoY)
186.3%
Net income
$1.82B
Diluted EPS
$7.57
Gross margin
Operating margin
20.4%
Net margin
15.0%
FCF margin
15.2%
ROE
9.8%
P/E (TTM)
6.7×
Market cap
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 EXPAND ENERGY

  • Revenue grew 186.3% to $12.1B in FY2025, after a 51.4% decline the year before.
  • Most recent quarter Q1 FY2026: revenue $4.4B, up 100.2% from Q1 FY2025.
  • Free cash flow was $1.8B in FY2025, 15.2% of revenue.
  • Net income turned positive at $1.8B in FY2025, from a $714M loss in FY2024.

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 EXPAND ENERGY’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).

Operating margin20.4%
57th percentile of 50
Net margin15.0%
63rd percentile of 58
FCF margin15.2%
53rd percentile of 20
Revenue growth (YoY)+186.3%
97th percentile of 59
ROE9.8%
60th percentile of 49
P/E (TTM)6.7×
13th percentile of 40
Debt / equity0.27×
28th percentile of 37
Short interest2.14d
19th percentile of 60

EXPAND ENERGY’s revenue growth of +186.3% ranks in the 97th percentile of the 59 oil and gas companies reporting it. EXPAND ENERGY’s P/E of 6.7 ranks in the 13th percentile of the 40 peers with a meaningful P/E.

4 open-market insider buys totaling $560,880 in the last 90 days. 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 3 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
3
+7 quant / multi-strat
Initiated / added
8
2 new, 6 added
Reduced / exited
3
2 trimmed, 1 exited
Combined position
$1.13B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ1 2026$423.1M3.9MAdded
Millennium ManagementquantQ1 2026$181.8M1.7MAdded
Point72 Asset ManagementquantQ1 2026$166.8M1.5MAdded
Citadel AdvisorsquantQ1 2026$165.2M1.5MAdded
D. E. ShawquantQ1 2026$76.6M697.8KAdded
Gotham Asset ManagementQ1 2026$45.1M410.5KReduced
Renaissance TechnologiesquantQ1 2026$35.8M325.8KNew
Two Sigma InvestmentsquantQ1 2026$32.4M294.8KReduced
Maverick CapitalQ1 2026$1.2M11.0KNew
First Eagle Investment ManagementQ1 2026$1.1M9.8KAdded

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. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
4
2 insiders
Bought (90d)
$561K
open-market value
Sells (90d)
0
Signal
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-06-12
filed 2026-06-15
Wichterich MichaelInterim President and CEOBuy1.0K$88.90$89K
2026-06-04
Teunissen MarcelEVP & CFOBuy2.0K$92.88$186K
2026-06-04
Wichterich MichaelInterim President and CEOBuy1.0K$93.36$93K
2026-05-07
Teunissen MarcelEVP & CFOBuy2.0K$96.43$193K

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
8.5M
settled 2026-07-15
Change vs prior
+10.1%
vs previous settlement
Days to cover
2.14
at avg daily volume
Avg daily volume
4.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-158.5M+10.1%2.14
2026-06-307.7M+1.2%1.72
2026-06-157.6M+22.5%2.26
2026-05-296.2M+2.8%1.98
2026-05-156.0M+6.7%2.47
2026-04-305.7M-11.7%1.66
2026-04-156.4M-13.3%1.92
2026-03-317.4M+10.3%1.48

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$12.12B$4.24B$8.72B$11.74B
Gross profit
Operating income$2.47B$-803.0M$3.14B$3.78B
Net income$1.82B$-714.0M$2.42B$4.94B$6.33B
Diluted EPS$7.57$-4.55$16.92$33.36

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$4.58B$1.56B$2.38B$4.13B
Capital expenditure$2.74B$1.56B$1.83B$1.82B
Free cash flow$1.84B$8.0M$551.0M$2.30B

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
Q1 FY2026$4.40B100.2%$1.16B$4.81
Q4 FY2025$3.27B63.5%$553.0M$2.30
Q3 FY2025$2.97B357.7%$547.0M$2.28
Q2 FY2025$3.69B630.7%$968.0M$4.02
Q1 FY2025$2.20B103.1%$-249.0M$-1.06
Q4 FY2024$2.00B2.7%$-399.0M$-1.73
Q3 FY2024$648.0M-57.1%$-114.0M$-0.85
Q2 FY2024$505.0M-73.3%$-227.0M

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

Company facts

ExchangeNasdaq
SectorEnergy
SIC industryCrude Petroleum & Natural Gas
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2016
SEC CIK895126

Recent SEC filings

10-K2026-02-18
View on EDGAR →
10-K2025-02-26
View on EDGAR →
10-Q2026-04-28
View on EDGAR →
10-Q2025-10-28
View on EDGAR →
10-Q2025-07-29
View on EDGAR →
10-Q2025-04-29
View on EDGAR →
8-K2026-07-27
View on EDGAR →
8-K2026-06-26
View on EDGAR →

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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.