Friday 6 November 2026 Export EQT’s income statement to Excel — free account

EQT Corporation

EQT Energy Oil & Gas E&P

EQT Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.6 billion, up 63.9% from fiscal 2024.

Revenue: −9.61%
EPS: −16.7%
Free cash flow: +12.2%
Total debt: −32.4%

Quarter to September 2026, against a year earlier

50.83 1.69 −3.22%

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Market cap: $31.7B
P/E: 12.0×
Fwd P/E: 14.3×
Dividend yield: 1.31%
F-score: 8/9
Altman Z: 1.95
Beneish M: −2.55
Dividend safety: 78/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

EQT Corporation (EQT) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Upstream	8,024	92.83%
Gathering	1,301	15.06%
Transmission	572	6.62%
Gross margin		77.74%
Operating margin		37.59%
Pre-tax margin		34.45%

Revenue by product or service $m

Line	FY2021	FY2020	FY2019	FY2018
Natural gas sales	6,180 90.83%	2,460 92.81%	3,560 93.89%	4,218 89.56%
NGLs sales	532 7.81%	170 6.41%	198 5.22%	442 9.39%
Oil sales	92 1.36%	21 0.78%	34 0.89%	36 0.76%
Net Marketing Services and Other	—	—	—	14 0.29%
Sales of natural gas, natural gas liquids and oil	6,804	2,650	3,791	4,696
Revenue	6,804	2,650	3,791	4,709

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
Upstream	8,024 92.83%	5,010 95.00%	6,896 99.82%	7,484 99.82%
Gathering	1,301 15.06%	766 14.53%	161 2.34%	97 1.29%
Transmission	572 6.62%	218 4.14%	0 0.00%	0 0.00%
Eliminations	(1,254) (14.50%)	(721) (13.68%)	(149) (2.15%)	(83) (1.11%)
Revenue	8,644	5,273	6,909	7,498

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022
Upstream	‡	‡	‡	‡
Gathering	‡	‡	‡	‡
Transmission	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡
Operating income	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Remaining performance obligations	Q3 FY2026	$10.6B	$11.7B	−8.89%
Sales volume	Q3 FY2026	544.5B	—	—
Sales volume	Q3 FY2026	3.5M	3.9M	−11.11%
Sales volume	Q3 FY2026	2.5M	2.0M	+22.80%
Sales volume	Q3 FY2026	386.0K	491.0K	−21.38%
Total liquids sales volume	Q3 FY2026	6.4M	6.5M	−1.25%
Total sales volume	Q3 FY2026	582.8B	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total liquids sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.