Expand Energy Corporation (EXE) Financial Statements

Executive TeamFinancials
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Expand Energy financial statements at a glance

Expand Energy reported revenue of $12.19 billion for fiscal year 2025 (ended December 31, 2025), up 188.8% from fiscal year 2024. Net income was $1.82 billion, a net margin of 14.9%, and diluted earnings per share were $7.57.

At the end of fiscal year 2025 it had total assets of $28.29 billion, total liabilities of $9.71 billion and shareholders' equity of $18.58 billion, with cash and short-term investments of $616.00 million and total debt of $5.06 billion.

Its operations brought in $4.58 billion of cash; capital spending was $2.93 billion, leaving free cash flow of $1.64 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

EXE logo

Expand Energy Corporation

EXEUnited States
Energy
USD (Local)

Income Statement

Annual • USD

Total Revenue
12.19B
Prev Year: 4.22B
YoY: +188.8%
Operating Revenue
12.19B
Prev Year: 4.22B
YoY: +188.8%
Weighted Average Shares (diluted)
240.37M
Prev Year: 156.99M
YoY: +53.1%
Weighted Average Shares (basic)
237.29M
Prev Year: 156.99M
YoY: +51.2%
Diluted EPS
7.57
Prev Year: -4.55
YoY: +266.4%
Basic EPS
7.67
Prev Year: -4.55
YoY: +268.6%
Other Income Expense
-254.00M
Prev Year: -21.00M
YoY: -1109.5%
Gain on Sale of Property, Plant and Equipment
-65.00M
Prev Year: 14.00M
YoY: -564.3%
Other Special Charges
-4.00M
Prev Year: 1.00M
YoY: -500.0%
Restructuring and Mergers Acquisition
198.00M
Prev Year: 120.00M
YoY: +65.0%
Selling and Marketing Expense
3.16B
Prev Year: 1.31B
YoY: +141.2%
Other General and Administrative
181.00M
Prev Year: 186.00M
YoY: -2.7%
Cost of Revenue
5.99B
Prev Year: 3.08B
YoY: +94.5%
Gross Profit
6.20B
Prev Year: 1.14B
YoY: +443.2%
Operating Expense
3.43B
Prev Year: 1.84B
YoY: +86.5%
Selling General and Administrative
3.34B
Prev Year: 1.50B
YoY: +123.3%
General and Administrative Expense
181.00M
Prev Year: 186.00M
YoY: -2.7%
Other Operating Expenses
86.00M
Prev Year: 342.00M
YoY: -74.9%
Operating Income
2.77B
Prev Year: -697.00M
YoY: +497.6%
Net Non Operating Interest Income Expense
-235.00M
Prev Year: -123.00M
YoY: -91.1%
Non-operating Interest Expense
235.00M
Prev Year: 130.00M
YoY: +80.8%
Non-operating Interest Income
-
Prev Year: 7.00M
Special Income Charges
-296.00M
Prev Year: -107.00M
YoY: -176.6%
Impairment of Capital Assets
37.00M
Other Non-operating Income (expense)
42.00M
Prev Year: 86.00M
YoY: -51.2%
Pre-tax Income
2.28B
Prev Year: -841.00M
YoY: +371.3%
Provision for Income Taxes
463.00M
Prev Year: -127.00M
YoY: +464.6%
Net Income Common Stockholders
1.82B
Prev Year: -714.00M
YoY: +354.8%
Net Income
1.82B
Prev Year: -714.00M
YoY: +354.8%
Net Income Including Non-Controlling Interests
1.82B
Prev Year: -714.00M
YoY: +354.8%
Net Income from Continuing Operations
1.82B
Prev Year: -714.00M
YoY: +354.8%
Diluted NI Available to Com Stockholders
1.82B
Prev Year: -714.00M
YoY: +354.8%
Total Operating Income as Reported
2.47B
Prev Year: -803.00M
YoY: +407.7%
Total Expenses
9.42B
Prev Year: 4.92B
YoY: +91.5%
Net Income from Continuing and Discontinued Operation
1.82B
Prev Year: -714.00M
YoY: +354.8%
Normalized Income
2.05B
Prev Year: -623.16M
YoY: +429.8%
Interest Expense
235.00M
Prev Year: 130.00M
YoY: +80.8%
Net Interest Income
-235.00M
Prev Year: -123.00M
YoY: -91.1%
EBIT
2.52B
Prev Year: -711.00M
YoY: +454.0%
EBITDA
5.50B
Prev Year: 1.02B
YoY: +440.0%
Interest Income
-
Prev Year: 7.00M
Reconciled Cost of Revenue
5.99B
Prev Year: 3.08B
YoY: +94.5%
Reconciled Depreciation
2.98B
Prev Year: 1.73B
YoY: +72.4%
Net Income from Continuing Operation Net Minority Interest
1.82B
Prev Year: -714.00M
YoY: +354.8%
Total Unusual Items Excluding Goodwill
-296.00M
Prev Year: -107.00M
YoY: -176.6%
Total Unusual Items
-296.00M
Prev Year: -107.00M
YoY: -176.6%
Normalized EBITDA
5.79B
Prev Year: 1.13B
YoY: +414.9%
Tax Rate for Calcs
0.203
Prev Year: 0
Tax Effect of Unusual Items
-60.09M
Prev Year: -16.16M
YoY: -271.9%
Values in USD

Expand Energy key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$12.2B$4.2B$8.7B$11.4B–
Gross profit$6.2B$1.1B$5.0B$8.2B–
Operating income$2.8B-$697.0M$2.4B$3.7B–
Net income$1.8B-$714.0M$2.4B$4.9B–
Diluted EPS$7.57-$4.55$16.92$33.36–
Total assets$28.3B$27.9B$14.4B$15.5B$11.0B
Total liabilities$9.7B$10.3B$3.6B$6.3B$5.3B
Shareholders' equity$18.6B$17.6B$10.7B$9.1B$5.7B
Cash and short-term investments$616.0M$317.0M$1.1B$130.0M$905.0M
Total debt$5.1B$5.8B$2.1B$3.2B$2.3B
Operating cash flow$4.6B$1.6B$2.4B$4.1B–
Capital spending$2.9B$1.6B$1.8B$1.8B–
Free cash flow$1.6B$8.0M$551.0M$2.3B–

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Expand Energy's revenue in fiscal year 2025?

$12.19 billion, up 188.8% from $4.22 billion in fiscal year 2024.

How much profit does Expand Energy make?

Expand Energy reported net income of $1.82 billion for fiscal year 2025 (14.9% of revenue); operating income was $2.77 billion.

How much cash and debt does Expand Energy have?

At the end of fiscal year 2025: cash and short-term investments of $616.00 million and total debt of $5.06 billion.

What is Expand Energy's free cash flow?

$1.64 billion in fiscal year 2025 (operating cash flow of $4.58 billion minus capital spending of $2.93 billion).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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