Venture Global (VG) Q4 FY2024 earnings: revenue $1.5 billion

Venture Global, Inc. (VG) reported revenue of $1.5 billion for Q4 FY2024, the quarter ended 31 December 2024. Net income was $871 million, and diluted earnings per share $0.33. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2026.

Revenue$1.5 billion

Net income$871 million

Diluted EPS$0.33

QuarterQ4 FY2024ended 31 December 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	1,524	926	n/a	n/a
Cost of revenue	414	272	n/a	n/a
Gross profit	1,110	654	n/a	n/a
Gross margin	72.8%	70.6%	n/a
Research and development	124	156	n/a	n/a
Operating income	594	189	n/a	n/a
Operating margin	39.0%	20.4%	n/a
Interest expense	117	128	n/a	n/a
Pre-tax income	1,238	-372	n/a	n/a
Income tax	248	-78.0	n/a	n/a
Effective tax rate	20.0%	n/a	n/a
Net income	871	-347	n/a	n/a
Net margin	57.2%	-37.5%	n/a
Diluted EPS	$0.33	-$0.15	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three 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.

Cash flow and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	673	280	n/a	n/a
Capital expenditure	3,659	3,803	n/a	n/a
Free cash flow	-2,986	-3,523	n/a	n/a
Free cash flow margin	-195.9%	-380.5%	n/a
Cash from investing	-3,723	-3,850	n/a	n/a
Cash from financing	2,029	4,745	n/a	n/a
Depreciation and amortisation	93.0	89.0	n/a	n/a
Share-based compensation	4.0	5.0	n/a	n/a
Dividends paid	56.0	54.0	n/a	n/a
Diluted shares, weighted	2,610m	2,350m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Shareholders' equity	2,897	n/a	n/a	n/a
Non-controlling interest	3,470	n/a	n/a	n/a
Redeemable equity	1,529	1,492	n/a	n/a
Debt	29,276	n/a	n/a	n/a
Operating lease liabilities	536	n/a	n/a	n/a
Finance lease liabilities	248	n/a	n/a	n/a
Other liabilities	5,535	n/a	n/a	n/a
Total liabilities and equity	43,491	n/a	n/a	n/a
Cash and equivalents	3,608	5,635	n/a	n/a
Receivables	364	n/a	n/a	n/a
Inventory	171	n/a	n/a	n/a
Other assets	39,348	n/a	n/a	n/a
Total assets	43,491	n/a	n/a	n/a

Questions

What was Venture Global's revenue in Q4 FY2024?

Venture Global (VG) reported revenue of $1.5 billion for Q4 FY2024, the quarter ended 31 December 2024.

How much did Venture Global earn in Q4 FY2024?

Net income for Q4 FY2024 was $871 million, and diluted earnings per share $0.33.

When did Venture Global report Q4 FY2024 results?

Venture Global filed its 10-K for the year that ended with the quarter on 2 March 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 10 quarters

	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,414	1,108	926	1,524	2,894	3,101	3,329	4,445	4,599	4,578
Cost of revenue	365	300	272	414	1,059	1,419	1,388	2,054	2,784	1,660
Gross profit	1,049	808	654	1,110	1,835	1,682	1,941	2,391	1,815	2,918
Gross margin	74%	73%	71%	73%	63%	54%	58%	54%	39%	64%
R&D	181	174	156	124	182	57.0	53.0	52.0	46.0	23.0
Operating income	617	363	189	594	1,080	1,038	1,320	1,718	1,151	2,188
Operating margin	44%	33%	20%	39%	37%	33%	40%	39%	25%	48%
Interest expense	186	153	128	117	276	310	421	447	444	489
Pre-tax income	873	444	-372	1,238	668	591	637	1,467	736	1,753
Tax rate	20%	21%	n/a	20%	23%	20%	14%	19%	15%	19%
Net income	648	303	-347	871	396	368	429	1,067	488	1,347
Net margin	46%	27%	-37%	57%	14%	12%	13%	24%	11%	29%
Diluted EPS	$0.25	$0.12	-$0.15	$0.33	$0.15	$0.14	$0.16	$0.41	$0.19	$0.51
Operating cash flow	638	558	280	673	1,114	1,458	1,883	2,111	763	2,072
Capital expenditure	3,004	3,251	3,803	3,659	3,466	2,980	3,294	3,625	3,181	3,719
Free cash flow	-2,366	-2,693	-3,523	-2,986	-2,352	-1,522	-1,411	-1,514	-2,418	-1,647
Dividends paid	15.0	14.0	54.0	56.0	190	57.0	176	42.0	180	n/a
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

10-K for the period ended 31 December 2024, filed 2 March 2026: the filing.