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Cheniere Energy Partners, L.P.

CQP Energy Oil & Gas Midstream

Cheniere Energy Partners, L.P.’s revenue for fiscal 2025 (year ended December 2025) was $10.8 billion, up 23.6% from fiscal 2024.

Revenue
+7.07%
EPS
+65.0%
Free cash flow
+16.7%
Total debt
−2.48%

Quarter to September 2026, against a year earlier

57.59 0.91 +1.61%
Market cap
$27.7B
P/E
9.3×
Fwd P/E
14.7×
Dividend yield
4.04%
F-score
8/9
Altman Z
n/a
Beneish M
−1.49
Dividend safety
21/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • LNG
  • Regasification
  • Other

Every year since 2016 →

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 49.64%

Capital & Financial Ratios $m

Size
Market Cap 27,700.00
Revenue ttm 11,667.00
Net income ttm 3,273.00
Free cash flow ttm 2,888.00
Net debt Q 13,791.00
Valuation
P/E 9.25
Forward P/E 14.70
Price / sales 2.39
Forward P/S Powerpack
Price / FCF 9.65
Price / book 31.71 (above 6: high)
Financial health
Current ratio Q 1.19
Debt / equity Q 16.38 (above 2: weak)
Interest coverage Q 4.48
Growth
Revenue growth Q +7.07% (above 0%: growing)
Operating income growth Q +17.10% (above 0%: growing)
EPS, this year −7.05% (below 0%: weak)
EPS, next year A −2.88% (below 0%: weak)
Revenue, next year A +1.56%
EPS, past 5 yrs +17.38% (at or above 15%: strong)
EPS, next 5 yrs A −2.69% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.6×, against a ten-year median of 4.7×; over the ten years it ranged from 2.2× in 2023 to 81.5× in 2016.
P/E against its own 10 years 13.87%
10-year low 10-year high
P/S against its own 10 years 22.44%
10-year low 10-year high
P/B against its own 10 years 69.48%
10-year low 10-year high
EV/Sales against its own 10 years 12.43%
10-year low 10-year high
EV/FCF against its own 10 years 21.91%
10-year low 10-year high

Dividends

Yield
4.04%
Annual rate
2.33
Payout ratio
37.4%
Growth, 2017–25
−9.45%/yr
  1. 1.72 ’17
  2. 2.19 ’18 +28
  3. 2.42 ’19 +11
  4. 2.57 ’20 +6
  5. 2.66 ’21 +4
  6. 2.25 ’22 −15
  7. 2.33 ’23 +3
  8. 3.14 ’24 +35
  9. 0.78 ’25 −75
  10. 3.37 ’26e +335
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 631 379 201 604
Receivables 651 545 749 617
Inventory 142 151 180 165
Other 157 208 166 168
1,581 1,325 1,338 1,604
2023 2024 2025 Q'26
Payables 69 62 53 97
ST’ Debt 300 351 306 112
Other 269 333 236 154
1,566 1,712 1,708 1,348

Compound Annual Growth %

10y 5y 3y
Sales 44.56% 11.77% (14.49%)
Cash Flow 0.00% 9.59% (12.62%)
Earnings 0.00% 22.04% 16.52%
Book Value (5.29%) (5.14%) 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.98 Actual 1.01

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.04 1.08 Beat by 0.04
Q1 FY26 1.07 1.23 Beat by 0.16
Q2 FY26 0.95 1.10 Beat by 0.15
Q3 FY26 0.98 1.01 Beat by 0.03
Q4 FY26 1.12 — Reports 25 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.38 2.14 1.32 — —
’25 1.08 0.91 0.80 2.38 5.17
’24 1.18 0.95 1.08 1.05 4.25
’23 3.50 1.29 1.63 1.42 6.95
’22 0.33 0.71 (1.06) 4.63 3.27
’21 0.64 0.73 0.69 0.93 3.00
’20 0.84 1.16 (0.16) 0.77 2.32
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,600 2,583 2,574 — —
’25 2,989 2,455 2,404 2,910 10,758
’24 2,295 1,894 2,055 2,460 8,704
’23 2,917 1,933 2,128 2,686 9,664
’22 3,328 4,181 4,976 4,721 17,206
’21 1,963 1,889 2,324 3,258 9,434
’20 1,718 1,470 982 1,997 6,167
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 910 699 941 — —
’25 665 558 658 887 2,768
’24 669 732 691 876 2,968
’23 847 691 655 916 3,109
’22 800 786 856 1,707 4,149
’21 588 487 592 624 2,291
’20 535 339 459 418 1,751
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 879 433 712 — —
’25 605 490 610 864 2,569
’24 633 702 652 827 2,814
’23 758 631 634 866 2,889
’22 713 634 739 1,612 3,698
’21 442 317 413 471 1,643
’20 218 75 245 241 779
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 1.3% a year for ten years.

Implied
1.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

4.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,100 4,304 6,426 6,838 6,167 9,434 17,206 9,664 8,704 10,758 11,667 +28.8% 10,926 11,229 12,026 +3.8%
Gross margin, % 46.27 36.99 38.86 39.30 45.26 34.13 23.89 60.16 46.83 41.87 41.11 (4.4) pt
EBT (171) 490 1,274 1,175 1,183 1,630 2,498 4,254 2,510 2,987 3,273 n/m
EBT margin, % (15.55) 11.38 19.83 17.18 19.18 17.28 14.52 44.02 28.84 27.77 28.05 +43.3 pt
Net income (171) 490 1,274 1,175 1,183 1,630 2,498 4,254 2,510 2,987 3,273 n/m
Per share, $
Per share, $ Revenue 3.26 13.71 13.28 14.13 15.44 19.49 35.55 19.97 17.98 22.23 24.11 +23.8%
Earnings (0.51) (1.32) 2.51 2.25 2.32 3.00 3.27 6.95 4.25 5.17 6.22 n/m
Cash flow 0.00 3.11 3.87 3.20 4.39 4.73 8.57 6.42 6.13 5.72 7.10 n/m
Capex (6.85) (4.11) (1.66) (2.75) (2.43) (1.34) (0.93) (0.45) (0.32) (0.41) (1.13) (26.8%)
Free cash flow (6.85) (1.00) 2.21 0.45 1.95 3.39 7.64 5.97 5.81 5.31 5.97 n/m
Book value 1.31 2.04 1.65 1.48 1.35 1.48 (4.40) (1.62) (1.05) 0.86 1.82 (4.6%)
Shares, m 338 314 484 484 399 484 484 484 484 484 484 +4.1%
Valuation, ×
Valuation, × P/E 0.00 27.42 14.38 17.69 13.49 14.13 11.86 6.54 12.47 10.34 9.25 12.8
P/S 8.97 2.18 2.72 2.82 2.28 2.17 1.54 2.57 2.95 2.41 2.39 3.1
P/B 22.27 14.66 21.84 26.95 26.11 28.47 0.00 0.00 0.00 62.52 31.71 20.3
EV/Sales 21.54 5.59 5.01 5.13 5.24 3.98 2.51 4.15 4.65 3.73 3.57 6.2
EV/FCF (9.38) (76.83) 30.11 162.54 41.52 22.88 11.66 13.88 14.37 15.63 14.43 22.6
Cash, $m
Cash, $m Operating cash flow 0 977 1,874 1,547 1,751 2,291 4,149 3,109 2,968 2,768 3,437 n/m
Capex (2,315) (1,290) (804) (1,331) (972) (648) (451) (220) (154) (199) (549) (23.9%)
Free cash flow (2,315) (313) 1,070 216 779 1,643 3,698 2,889 2,814 2,569 2,888 n/m
Balance, $m
Balance, $m Working capital 102 1,310 1,288 1,741 1,252 867 199 15 (387) (370) 256 n/m
Net debt 13,828 14,457 14,525 15,617 16,273 16,203 15,220 15,275 14,733 14,266 13,791 +0.3%
Shareholders’ equity 443 639 800 715 539 718 (2,131) (784) (509) 414 879 (0.7%)
Returns, %
Returns, % ROA (0.08) (1.41) 8.95 7.79 4.80 7.53 8.12 17.82 11.59 14.35 16.09 +14.4 pt
ROIC 1.09 4.79 8.07 7.81 7.90 9.44 16.14 21.72 14.41 15.78 16.98 +14.7 pt
ROE (1.90) (43.25) 220.99 192.21 147.53 230.71 (224.06) (230.74) (318.64) (5,271.58) 1,050.85 (5,269.7) pt
People
People Employees 911 1,230 1,372 1,530 1,519 1,550 1,551 1,605 1,714 1,717 — +7.3%
Revenue/emp, $m 1.21 3.50 4.68 4.47 4.06 6.09 11.09 6.02 5.08 6.27 — +20.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Cheniere Energy Partners is a publicly traded limited partnership that produces and exports liquefied natural gas, or LNG. It sells LNG to integrated energy companies, utilities and energy traders around the world. Its principal executive offices are in Houston, Texas.

LNG is natural gas cooled into liquid form for shipment. After reaching its destination, it can be converted back into gas and transported through pipelines for uses such as heating, cooking and industrial activity.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
LNG 10,558 98.14%
Regasification 136 1.26%
Other 64 0.59%
Gross margin 41.87%
Operating margin 34.45%
Pre-tax margin 27.77%

Revenue by segment since 2016

Cheniere Energy Partners, L.P. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MPLX MPLX LP $57.3B 13.2× 14.0× −0.39% (below 0%: shrinking) −23.83% (below 0%: shrinking) −23.76% (below 0%: shrinking) 56.01% 40.94% Compare
OKE ONEOK, Inc. $54.4B 13.3× 15.2× +44.26% (above 0%: growing) +47.18% (above 0%: growing) −46.10% (below 0%: shrinking) 22.83% 12.59% Compare
VG Venture Global, Inc. $28.8B 8.6× 8.5× +47.63% (above 0%: growing) +260.00% (above 0%: growing) −8.21% (below 0%: shrinking) 63.74% 47.79% Compare
CQP Cheniere Energy Partners, L.P. $27.7B 9.3× 14.7× +7.07% (above 0%: growing) +65.03% (above 0%: growing) +16.72% (above 0%: growing) 39.59% 31.66%
PBA Pembina Pipeline Corp. $27.7B 23.3× 23.2× +19.97% (above 0%: growing) +27.66% (above 0%: growing) +8.94% (above 0%: growing) 43.36% 37.45% Compare
PAGP Plains Group Holdings, L.P. $20.1B 9.4× 9.6× +66.26% (above 0%: growing) +1,213.33% (above 0%: growing) +50.93% (above 0%: growing) 4.57% 2.24% Compare
PAA Plains All American Pipeline, L.P. $17.3B 6.8× 7.2× +66.26% (above 0%: growing) +1,095.24% (above 0%: growing) +50.92% (above 0%: growing) 4.57% 2.25% Compare
WES Western Midstream Partners, LP $16.5B 12.9× 12.5× +25.38% (above 0%: growing) −9.20% (below 0%: shrinking) +44.45% (above 0%: growing) 89.81% 38.65% Compare
VNOM Viper Energy Inc. $14.4B 18.1× 16.7× +58.13% (above 0%: growing) n/m +57.25% (above 0%: growing) 100.00% 60.36% Compare
Median of peers $23.9B 13.0× 13.3× +45.95% +47.18% +26.70% 49.69% 38.05%

All 57 Oil & Gas Midstream stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 46.56%
Held by the ten largest 45.67%
Holder Shares Stake Change
Blackstone Inc. 102.35m 21.14% 0.00
Brookfield Corp /ON/ 101.62m 20.99% 0.00
ALPS ADVISORS INC 9.10m 1.88% −408.05k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 2.85m 0.59% −5.06k
Goldman Sachs 1.13m 0.23% +75.48k
TORTOISE CAPITAL ADVISORS, L.L.C. 1.08m 0.22% −26.07k
Morgan Stanley 984.48k 0.20% −10.06k
JPMorgan Chase 752.99k 0.16% −79.14k
Franklin Templeton 677.97k 0.14% +66.10k
UBS 504.05k 0.10% +22.26k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Cheniere Energy Partners, L.P. (CQP) Latest News

29 Oct

Impact 4 · · Business Wire

23 Oct

Impact 4 · · Zacks
Impact 4 · · offshore-technology.com

22 Oct

Impact 4 · · Business Wire

20 Oct

Impact 3 · · Simply Wall St.

12 Aug

Impact 3 ·

6 Aug

Impact 3 ·
Impact 3 ·

4 Aug

Impact 3 ·

3 Aug

Impact 3 ·

30 Jul

Impact 3 ·

29 Jul

Impact 4 · · offshore-technology.com
Impact 3 ·

5 Jul

Impact 4 ·

1 Jul

Impact 4 ·

30 Jun

Impact 4 ·

26 Jun

Impact 3 · · Insider Monkey

23 Jun

Impact 4 · · 24/7 Wall St.

22 Jun

Impact 4 · · The Motley Fool

17 Jun

Impact 3 ·

14 Jun

Impact 4 ·

5 Jun

Impact 4 · · Simply Wall St.

4 Jun

Impact 4 · · constructiondive.com
Impact 4 · · Insider Monkey

1 Jun

Impact 4 · · Zacks
Impact 3 · · The Motley Fool transcript

31 May

Impact 4 · · Insider Monkey

29 May

Impact 4 · · offshore-technology.com

28 May

Impact 4 · · Business Wire

26 May

Impact 3 · · Business Wire

CQP metrics, ten years each

stockrow.com/CQP · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com