Expand Energy (EXE) financials
Expand Energy revenue and earnings by year
Expand Energy's revenue was $12.1 billion in the fiscal year to December 31, 2025, up 186.3% from the year before. Net income was $1.82 billion, 15.0% of revenue. Since the fiscal year to December 31, 2018, revenue has grown 2.7% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 8 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12.1 | 4.2 | 8.7 | 11.7 | 5.5 | 5.2 | 8.5 | 10.0 |
| Revenue growth | 186.3% | -51.4% | -25.7% | 111.6% | 5.9% | -38.6% | -14.9% | — |
| Gross profit | 6.0 | 1.6 | 5.0 | 6.0 | 2.2 | 1.9 | 2.9 | 3.0 |
| Gross margin | 49.1% | 37.2% | 57.5% | 51.0% | 39.9% | 36.2% | 34.3% | 29.9% |
| Operating income | 2.5 | -0.8 | 3.1 | 3.8 | 0.9 | -8.7 | -0.0 | 0.4 |
| Operating margin | 20.4% | -19.0% | 36.0% | 32.2% | 16.9% | -166.1% | -0.4% | 3.8% |
| Net income | 1.8 | -0.7 | 2.4 | 4.9 | 0.9 | -9.7 | -0.3 | 0.2 |
| Net margin | 15.0% | -16.9% | 27.7% | 42.0% | 17.0% | -185.8% | -3.6% | 2.3% |
| Diluted EPS | $7.57 | -$4.55 | $16.92 | $33.36 | — | -$999.91 | -$44.58 | — |
| Free cash flow | 1.7 | 0.0 | 1.7 | 2.7 | 1.2 | 0.2 | -0.5 | 1.3 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open EXE in Markets.
How Expand Energy makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Natural Gas Gathering Transportation Marketing & Processing | $2.75B | 83.8% |
| Natural Gas Liquids Sales Marketing | $243M | 7.4% |
| Oil Sales Marketing | $169M | 5.2% |
| Oil Sales | $120M | 3.7% |
See also: EXE valuation and P/E history · EXE returns
No forecast, no recommendation. This page describes Expand Energy from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.