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Stocks / United States / EXE · Crude Petroleum & Natural Gas · Nasdaq

Expand Energy Corp. (EXE)

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Expand Energy Corp. (EXE) reported revenue of $3.0 billion for Q2 FY2026, the quarter ended 30 June 2026, down 19.8% on the same quarter a year earlier. Net income was $522 million, down 46.1% on the year, and diluted earnings per share $2.19. The figures are the company's own, from the 10-Q it filed with the SEC on 28 July 2026.

Revenue$3.0 billiondown 19.8%
Net income$522 milliondown 46.1%
Diluted EPS$2.19
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE14.3%
ROCE15.9%
Operating margin26.9%
Net margin20.5%
FCF margin19.7%
Interest cover16.80
Debt to equity0.19
Cash conversion2.03
Share count, 1 year-2.8%
Sales CAGR, 3 years1.1%
Profit CAGR, 3 years-28.3%
EPS, TTM$11.61

At the close of 21 September 2026

Price$87.65
Market cap$20.3 billion
Stock P/E7.55
Price to book1.05
EV / EBITDA3.54
Dividend yield0.0%
Market cap / sales1.49
52-week high$122.89
52-week low$86.95
Price, 1 year-11.0%
Price CAGR, 3 years2.2%
Price CAGR, 5 years8.4%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Expand Energy Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on EXE

Filings24 in twelve months: 15 current reports (8-K), about 7 regulation fd disclosure; 5 officer or director change; 4 other events; 4 results of operations; 3 material agreement
Planned insider sales8 Form 144 notices in twelve months, $3.2 million; latest 19 March 2026
Options tapeput/call 2.78 by open interest on 23 September 2026; the straddle prices a 2.9% move to 25 September 2026
Holders9 of the followed funds hold it; largest Geode Capital Management; 7 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 7 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest8.4 million shares short, 3.25 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,5121,9481,0815056482,0012,1963,6902,9663,2724,3972,960
Operating income79.072632.0-294-155-386-2681,2697257451,531661
Operating margin5%37%3%-58%-24%-19%-12%34%24%23%35%22%
Interest expense23.022.019.020.020.064.059.060.057.059.059.043.0
Pre-tax income71.073533.0-295-158-421-3191,2286866871,489672
Tax rate1%23%21%n/an/an/an/a21%20%20%22%22%
Net income70.056926.0-227-114-399-2499685475531,159522
Net margin5%29%2%-45%-18%-20%-11%26%18%17%26%18%
Diluted EPS$0.49$4.10$0.18-$1.73-$0.85-$2.15-$1.06$4.02$2.28$2.33$4.81$2.19
Operating cash flow5064705522094223821,0961,3221,2019562,4021,096
Capital expenditure423379421302298536563657775741707753
Free cash flow83.091.0131-93.0124-1545336654262151,695343
Buybacks13242.00.00.00.00.00.099.01.00.066.0514
Dividends paid77.075.077.099.078.0134142137349137141138
Shares outstanding131m131m131m131m231m233m238m238m238m240m239m232m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2022FY2023 FY2024FY2025TTM
Revenue19,08023,12512,7647,87210,03910,0308,5325,24011,7438,7214,23512,12413,595
Operating income2,0693,477-18,919-4,411-138382-31.0-8,7033,7803,142-8032,4713,662
Operating margin10.8%15.0%-148.2%-56.0%-1.4%3.8%-0.4%-166.1%32.2%36.0%-19.0%20.4%26.9%
Interest expense22789.0317296601633651331160104123235218
Pre-tax income1,4423,200-19,098-4,589-500218-639-9,7693,6513,117-8412,2823,534
Income tax5481,144-4,463-1902.0-10.0-331-19.0-1,285698-127463753
Effective tax rate38.0%35.8%n/an/an/a-4.6%n/an/a-35.2%22.4%n/a20.3%21.3%
Net income7241,917-14,567-4,390-505226-308-9,7344,9362,419-7141,8192,781
Net margin3.8%8.3%-114.1%-55.8%-5.0%2.3%-3.6%-185.8%42.0%27.7%-16.9%15.0%20.5%
Diluted EPS$0.73$1.87-$22.43-$6.45$0.90$0.85-$0.25-$998.26$33.36$16.92-$4.55$7.57$11.61
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2022FY2023 FY2024FY2025TTM
Operating cash flow4,6144,6341,234-2044751,7301,6231,1644,1252,3801,5654,5755,655
Capital expenditure7,1906,6673,6141,44621.021.048.01,1421,8231,8291,5572,7362,976
Free cash flow-2,576-2,033-2,380-1,6504541,7091,57522.02,3025518.01,8392,679
Free cash flow margin-13.5%-8.8%-18.6%-21.0%4.5%17.0%18.5%0.4%19.6%6.3%0.2%15.2%19.7%
Depreciation and amortisation2,9032,9152,2291,1071,6971,7372,2641,0971,7531,5271,7292,9802,933
Share-based compensation98.059.078.052.049.032.030.021.022.033.038.046.054.0
Buybacksn/an/an/an/an/an/an/a0.01,0733550.0100581
Dividends paid2332341180.00.0n/a0.00.01,212487388765765
Dividend per share$0.35$0.35$0.09$0.00$0.00n/an/an/an/an/an/an/an/a
Diluted shares, weighted653m772m662m764m906m909m1,665m10m146m143m157m240m238m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/a232m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2022FY2023 FY2024FY2025TTM
Total assets41,78240,65517,31413,02812,42512,73516,1936,58415,46814,37627,89428,28728,030
Cash and equivalents8374,1088258825.04.06.02791301,079317616663
Receivables2,2222,2361,1291,0571,3221,2479907461,4385931,2261,5991,098
Goodwill43.015.0n/an/an/an/an/an/an/an/an/an/an/a
Long-term debt12,88611,53510,3119,9389,9217,3419,0730.03,0002,0285,6805,0093,685
Borrowings, as the company tags them12,88611,53510,69210,4419,9737,7229,4589,095n/an/a5,6865,025n/a
Operating lease liabilitiesn/an/an/an/an/an/a16.02.033.015.074.048.0n/a
Finance lease liabilitiesn/an/an/an/an/an/a9.00.0n/an/an/an/an/a
Shareholders' equity15,99516,9032,138-1,331-4962,0924,364-5,3419,12410,72917,56518,57819,410
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-0.5%18.3%1.1%59.3%
Profit growth, compoundedn/an/a-28.3%1250.0%
Return on equity, averagen/a20.6%9.4%9.8%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Crude Petroleum & Natural Gas

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
EOG Resources Inc. EOG$74.2 billion10.9921.6%32.9%19.1%0.252.8%
Occidental Petroleum Corp. OXY$57.2 billionn/an/an/an/a0.311.7%
Diamondback Energy, Inc. FANG$53.1 billion36.053.9%6.3%21.4%0.332.2%
Devon Energy Corp. DVN$52.3 billion11.307.9%16.7%14.6%0.272.2%
EQT Corp. EQT$31.4 billion11.6310.7%42.5%32.3%0.221.3%
Expand Energy Corp. EXE$20.3 billion7.5514.3%26.9%59.3%0.190.0%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202628 July 2026EDGAR
10-Q31 March 202628 April 2026EDGAR
10-K31 December 202518 February 2026EDGAR
10-Q30 September 202528 October 2025EDGAR
10-Q30 June 202529 July 2025EDGAR
10-Q31 March 202529 April 2025EDGAR
10-K31 December 202426 February 2025EDGAR
10-Q30 September 202429 October 2024EDGAR
10-Q30 June 202429 July 2024EDGAR
10-Q31 March 202430 April 2024EDGAR

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