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NYSE · Utilities

Venture Global, Inc. (VG)

As-reported financials and SEC filings for Venture Global, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Venture Global, Inc.

Venture Global, Inc. is a U.S.-based company that produces and exports liquefied natural gas (LNG). It operates multiple LNG export projects in Louisiana, providing LNG through an integrated supply chain that includes production, transportation, shipping, and regasification. The company sells LNG to global customers under long-term contracts and spot sales, aiming to deliver low-cost LNG sourced from North American natural gas basins.

Snapshot

Revenue
$13.77B
Revenue growth (YoY)
176.9%
Net income
$2.73B
Diluted EPS
$0.86
Gross margin
—
Operating margin
37.4%
Net margin
19.8%
FCF margin
-49.4%
ROE
—
net income / fiscal-year-end equity
P/E
10.9×
trailing when available, otherwise FY EPS
Market cap
$31.25B
Long-term debt / equity
—
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Venture Global

  • Revenue grew 176.9% to $13.8B in FY2025, after a 37.0% decline the year before.
  • Operating margin is 37.4% in FY2025, -24.0 pp against 61.4% in FY2023.
  • Most recent quarter Q2 FY2026: revenue $4.6B, up 47.6% from Q2 FY2025.
  • Free cash flow was negative $6.8B in FY2025.
  • Net income rose 56.5% to $2.7B 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 Venture Global’s fundamentals sit among the 86 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin37.4%
97th percentile of 77
Net margin19.8%
82nd percentile of 80
FCF margin-49.4%
2nd percentile of 66
Revenue growth (YoY)+176.9%
Highest of 82
P/E10.9×
7th percentile of 74
Short interest2.88d
25th percentile of 86

Venture Global’s revenue growth of +176.9% is the highest of the 82 Utilities companies reporting it. Venture Global’s FCF margin of -49.4% ranks in the 2nd percentile of the 66 Utilities companies reporting it. Venture Global’s operating margin of 37.4% ranks in the 97th percentile of the 77 Utilities companies reporting it.

No reported insider purchases (code P) in the last 90 days; 21 insider sales totaling $104.8M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector 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 1 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+6 quant / multi-strat
Initiated / added
6
1 new, 5 added
Reduced / exited
2
1 trimmed, 1 exited
Combined position
$344.9M
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$174.1M15.6MAdded
Point72 Asset ManagementquantQ2 2026$38.6M3.5MAdded
Two Sigma InvestmentsquantQ2 2026$37.4M3.4MAdded
Millennium ManagementquantQ2 2026$36.8M3.3MAdded
Renaissance TechnologiesquantQ2 2026$33.0M3.0MAdded
Citadel AdvisorsquantQ2 2026$22.6M2.0MReduced
Bridgewater AssociatesQ2 2026$2.4M215.7KNew

No longer held by: Gotham Asset Management (as of Q2 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
code P
Bought (90d)
—
code P value
Sells (90d)
21
$104.8M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-15
Keith D. LarsonGeneral Counsel and SecretarySell389.7K$12.43$4.8M
2026-10-14
filed 2026-10-15
Keith D. LarsonGeneral Counsel and SecretarySell395.0K$13.37$5.3M
2026-09-18
filed 2026-09-21
Jonathan W. ThayerChief Financial OfficerSell111.1K$14.23$1.6M
2026-09-17
Keith D. LarsonGeneral Counsel and SecretarySell395.0K$14.40$5.7M
2026-09-17
filed 2026-09-21
Jonathan W. ThayerChief Financial OfficerSell111.1K$14.40$1.6M
2026-09-16
filed 2026-09-17
Keith D. LarsonGeneral Counsel and SecretarySell395.0K$14.82$5.9M
2026-09-14
Brian CothranChief Operating OfficerSell152.7K$16.15$2.5M
2026-09-09
Keith D. LarsonGeneral Counsel and SecretarySell1.9M$15.21$28.7M
2026-09-08
filed 2026-09-09
Keith D. LarsonGeneral Counsel and SecretarySell464.2K$15.05$7.0M
2026-08-20
Fory MusserSenior VP, DevelopmentSell259.4K$14.26$3.7M
2026-08-19
Jonathan W. ThayerChief Financial OfficerSell111.1K$13.86$1.5M
2026-08-19
filed 2026-08-20
Fory MusserSenior VP, DevelopmentSell12.6K$14.01$177K

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
42.1M
settled 2026-09-30
Change vs prior
-3.4%
vs previous settlement
Days to cover
2.88
at avg daily volume
Avg daily volume
14.6M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3042.1M-3.4%2.88
2026-09-1543.6M+2.9%2.89
2026-08-3142.4M-0.7%3.33
2026-08-1442.7M-2.2%3.06
2026-07-3143.7M+5.3%2.53
2026-07-1541.5M-4.8%3.08
2026-06-3043.6M+10.0%3.17
2026-06-1539.6M+18.1%2.94

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)

 FY2025FY2024FY2023
Revenue$13.77B$4.97B$7.90B
Gross profit———
Operating income$5.16B$1.76B$4.85B
Net income$2.73B$1.75B$3.62B
Diluted EPS$0.86$0.57$1.25

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 (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023
Cash and equivalents$2.35B$3.61B$5.87B
Current assets$4.04B$4.56B—
Total assets$53.45B$43.49B—
Current liabilities$4.34B$3.54B—
Long-term debt$33.39B$29.09B—
Total liabilities$41.45B$35.59B—
Total equity$10.30B$6.37B—

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 (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023
Operating cash flow$6.57B$2.15B$4.55B
Capital expenditure$13.37B$13.72B$8.09B
Free cash flow

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 (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$4.58B47.6%$1.42B$0.51
Q1 FY2026$4.60B58.9%$625.0M$0.19
Q4 FY2025191.7%
Q3 FY2025$3.33B259.5%$550.0M$0.16
Q2 FY2025$3.10B179.9%$475.0M$0.14
Q1 FY2025$2.89B104.7%$517.0M$0.15
Q4 FY2024—
Q3 FY2024$926.0M—$-294.0M$-0.15

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryNatural Gas Distribution
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2024
SEC CIK2007855

Selected SEC filings

10-K2026-03-02
View on EDGAR →
10-K2025-03-06
View on EDGAR →
10-Q2026-08-11
View on EDGAR →
10-Q2026-05-12
View on EDGAR →
10-Q2025-11-10
View on EDGAR →
10-Q2025-08-12
View on EDGAR →
8-K2026-10-15
View on EDGAR →
8-K2026-10-08
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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