financial statements

The full income statement, balance sheet, and cash-flow statement for Expand Energy Corporation (EXE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	12.1B YoY+186.3%	4.24B YoY-51.4%	8.72B YoY-25.7%	11.7B	—
Selling, general & administrative	181M YoY-2.7%	186M YoY+46.5%	127M YoY-10.6%	142M	—
General & administrative	181M YoY-2.7%	186M YoY+46.5%	127M YoY-10.6%	142M	—
Restructuring	5.00M YoY-78.3%	23.0M YoY+360.0%	5.00M YoY+0.0%	5.00M	—
Operating income	2.47B YoY+407.7%	-803M YoY-125.6%	3.14B YoY-16.9%	3.78B	—
Interest expense	235M YoY+91.1%	123M YoY+18.3%	104M YoY-35.0%	160M	—
Other non-operating income	42.0M YoY-51.2%	86.0M YoY+8.9%	79.0M YoY+119.4%	36.0M	—
Pre-tax income	2.28B YoY+371.3%	-841M YoY-127.0%	3.12B YoY-14.6%	3.65B	—
Income tax	463M YoY+464.6%	-127M YoY-118.2%	698M YoY+154.3%	-1.28B	—
	1.82B YoY+354.8%	-714M YoY-129.5%	2.42B YoY-51.0%	4.94B YoY-22.0%	6.33B YoY+165.0%
Net income to non-controlling interest	—	—	—	0.00	—
Net income to common	1.82B YoY+354.8%	-714M YoY-129.5%	2.42B YoY-50.3%	4.87B	—
	$7.57 YoY+266.4%	-$4.55 YoY-126.9%	$16.92 YoY-49.3%	$33.36	—
EPS (basic)	$7.67 YoY+268.6%	-$4.55 YoY-125.0%	$18.21 YoY-53.0%	$38.71	—
Weighted-avg shares (basic)	237M YoY+51.2%	157M YoY+18.2%	133M YoY+5.6%	126M	—
Weighted-avg shares (diluted)	240M YoY+53.1%	157M YoY+9.8%	143M YoY-2.0%	146M	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.92B YoY+46.0%	2.00B YoY-23.5%	2.61B YoY-3.3%	2.70B YoY+28.3%	2.10B YoY+89.8%
Cash & equivalents	616M YoY+94.3%	317M YoY-70.6%	1.08B YoY+730.0%	130M YoY-85.6%	905M YoY+224.4%
Short-term investments	0.00	0.00	0.00	0.00	0.00
Accounts receivable	1.60B YoY+30.4%	1.23B YoY+106.7%	593M YoY-58.8%	1.44B YoY+29.0%	1.11B YoY+49.5%
Inventory	25.0M YoY+0.0%	25.0M YoY+0.0%	25.0M YoY+0.0%	25.0M YoY+0.0%	25.0M YoY+0.0%
Prepaid expenses	61.0M YoY+0.0%	61.0M YoY+0.0%	61.0M YoY+0.0%	61.0M YoY+0.0%	61.0M
Other current assets	357M YoY+22.3%	292M YoY+29.2%	226M YoY+5.1%	215M YoY+211.6%	69.0M YoY+7.8%
	28.3B YoY+1.4%	27.9B YoY+94.0%	14.4B YoY-7.1%	15.5B YoY+40.5%	11.0B YoY+67.2%
Property, plant & equipment	24.4B YoY+0.3%	24.3B YoY+140.5%	10.1B YoY-9.7%	11.2B YoY+27.1%	8.80B YoY+67.9%
Operating lease right-of-use	99.0M YoY-31.7%	145M YoY+46.5%	99.0M YoY-16.8%	119M YoY+213.2%	38.0M YoY+31.0%
Goodwill	15.0M YoY+0.0%	15.0M YoY+0.0%	15.0M YoY+0.0%	15.0M YoY+0.0%	15.0M YoY+0.0%
Long-term investments	264M YoY+0.0%	264M YoY+0.0%	264M YoY+0.0%	264M YoY+0.0%	264M YoY+0.0%
Deferred tax assets	168M YoY-71.5%	589M YoY-36.9%	933M YoY-30.9%	1.35B	0.00
Other non-current assets	801M YoY-21.9%	1.02B YoY+54.6%	663M YoY+258.4%	185M YoY+77.9%	104M YoY-55.6%
	2.90B YoY-7.1%	3.12B YoY+137.7%	1.31B YoY-51.4%	2.70B YoY+10.5%	2.45B YoY-20.9%
Accounts payable	753M YoY-3.1%	777M YoY+82.8%	425M YoY-29.5%	603M YoY+95.8%	308M YoY-11.0%
Accrued liabilities	350M YoY+18.2%	296M YoY+40.3%	211M YoY-16.6%	253M YoY+78.2%	142M YoY+36.5%
Deferred revenue	14.0M YoY+0.0%	14.0M YoY+0.0%	14.0M YoY+0.0%	14.0M YoY+0.0%	14.0M YoY+75.0%
Short-term & current debt	0.00 YoY-100.0%	389M	0.00	0.00	0.00 YoY-100.0%
Current lease liability	51.0M YoY-28.2%	71.0M YoY-15.5%	84.0M YoY-2.3%	86.0M YoY+196.6%	29.0M YoY+7.4%
Other current liabilities	2.04B YoY+14.5%	1.79B YoY+110.9%	847M YoY-47.9%	1.63B YoY+35.4%	1.20B YoY+66.3%
	9.71B YoY-6.0%	10.3B YoY+183.2%	3.65B YoY-42.5%	6.34B YoY+18.8%	5.34B YoY-55.2%
Long-term debt	5.01B YoY-5.3%	5.29B YoY+160.9%	2.03B YoY-34.4%	3.09B YoY+35.8%	2.28B
Deferred revenue (non-current)	0.00	0.00	0.00	0.00	0.00
Non-current lease liability	48.0M YoY-35.1%	74.0M YoY+393.3%	15.0M YoY-54.5%	33.0M YoY+266.7%	9.00M YoY+350.0%
Deferred tax liabilities	37.0M YoY+270.0%	10.0M	0.00 YoY-100.0%	10.0M YoY+0.0%	10.0M YoY+0.0%
Other non-current liabilities	135M YoY+11.6%	121M YoY+290.3%	31.0M YoY-38.0%	50.0M YoY+233.3%	15.0M YoY+200.0%
Total non-current liabilities	9.47B YoY+0.0%	9.47B YoY+0.0%	9.47B YoY+0.0%	9.47B YoY+0.0%	9.47B YoY+0.0%
	18.6B YoY+5.8%	17.6B YoY+63.7%	10.7B YoY+17.6%	9.12B YoY+60.9%	5.67B YoY+206.2%
Preferred stock	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Common stock	2.00M YoY+0.0%	2.00M YoY+100.0%	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M
Additional paid-in capital	13.7B YoY+0.4%	13.7B YoY+137.9%	5.75B YoY+0.5%	5.72B YoY+18.1%	4.84B YoY-71.4%
Retained earnings	4.83B YoY+24.6%	3.88B YoY-22.1%	4.97B YoY+46.3%	3.40B YoY+312.0%	825M YoY+103.4%
Treasury stock	0.00	0.00	0.00	0.00	0.00
Accumulated other comprehensive income	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Non-controlling interest	0.00	0.00	0.00	0.00	0.00
Total equity incl. non-controlling	10.3B YoY+0.0%	10.3B YoY+0.0%	10.3B YoY+12.7%	9.12B YoY+60.9%	5.67B YoY+206.2%
Total liabilities & equity	28.3B YoY+1.4%	27.9B YoY+94.0%	14.4B YoY-7.1%	15.5B YoY+40.5%	11.0B YoY+67.2%
Common shares issued	239M YoY+3.2%	232M YoY+77.2%	131M YoY-2.9%	135M YoY+14.2%	118M YoY+1105.6%
Common shares outstanding	1.96B YoY+0.0%	1.96B YoY+0.0%	1.96B YoY+0.0%	1.96B YoY+0.0%	1.96B YoY+0.0%
Shares outstanding (cover)	238M YoY+3.1%	231M YoY+76.3%	131M YoY-2.2%	134M YoY+14.4%	117M YoY+1097.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.58B YoY+192.3%	1.56B YoY-34.2%	2.38B YoY-42.3%	4.13B	—
Depreciation & amortization	2.98B YoY+72.4%	1.73B YoY+13.2%	1.53B YoY-12.9%	1.75B	—
Share-based compensation	46.0M YoY+21.1%	38.0M YoY+15.2%	33.0M YoY+50.0%	22.0M	—
Deferred income taxes	448M YoY+464.2%	-123M YoY-128.7%	428M YoY+132.1%	-1.33B	—
Change in receivables	370M YoY+120.2%	168M YoY+119.6%	-857M YoY-908.5%	106M	—
Change in payables	-68.0M YoY-9.7%	-62.0M YoY+59.2%	-152M YoY-410.2%	49.0M	—
	-2.76B YoY-44.9%	-1.90B YoY-502.5%	473M YoY+113.9%	-3.40B	—
Capital expenditure	2.74B YoY+75.7%	1.56B YoY-14.9%	1.83B YoY+0.3%	1.82B	—
Acquisitions	0.00 YoY-100.0%	459M	0.00 YoY-100.0%	1.97B	—
Purchases of investments	14.0M YoY-81.3%	75.0M YoY-67.5%	231M YoY+1183.3%	18.0M	—
Proceeds from sale of PP&E	70.0M YoY+233.3%	21.0M YoY-99.2%	2.53B YoY+522.4%	407M	—
	-1.51B YoY-261.6%	-419M YoY+77.9%	-1.89B YoY-30.8%	-1.45B	—
Common stock issued	—	—	0.00	0.00	—
Common stock repurchased	100M	0.00 YoY-100.0%	355M YoY-66.9%	1.07B	—
Dividends paid	765M YoY+97.2%	388M YoY-20.3%	487M YoY-59.8%	1.21B	—
Other financing activities	0.00 YoY+100.0%	-3.00M	0.00	0.00	—
Net change in cash	301M YoY+139.7%	-758M YoY-178.9%	961M YoY+233.1%	-722M	—
Interest paid	230M YoY+147.3%	93.0M YoY-20.5%	117M YoY-19.9%	146M	—
Income taxes paid	66.0M YoY+2300.0%	-3.00M YoY-102.3%	132M YoY-31.6%	193M	—
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	26.3B YoY+14.3%	23.0B YoY+128.1%	10.1B YoY-20.2%	12.6B YoY+67.3%	7.56B
P/E	14.4×	—	1.9× YoY-83.4%	11.3×	—
P/S	2.2× YoY-60.1%	5.4× YoY+481.2%	0.9× YoY-30.3%	1.3× YoY-19.6%	1.7×
P/B	1.4× YoY+8.1%	1.3× YoY+32.0%	1.0× YoY-44.8%	1.8× YoY-13.9%	2.1×
P/FCF	14.3× YoY-99.5%	2874.9× YoY+27736.1%	10.3× YoY+87.8%	5.5× YoY-40.9%	9.3×
Earnings yield	6.9%	—	53.3% YoY+501.5%	8.9%	—
FCF yield	7.0% YoY+20014.6%	0.0% YoY-99.6%	9.7% YoY-46.8%	18.2% YoY+69.1%	10.8%
Source filing	DEF 14A	10-K	10-K	10-K	DEF 14A

About this data

Source: EXE's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EXE filings on SEC EDGAR → Not investment advice.

EXE▼ financial statements

About this data

financial statements