EQT (EQT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

EQT

NYSE•Energy•Oil & Gas E&P

$54.25-0.59(-0.01%)After hours

Market Cap

$33.96B

P/E

12.8x

P/S

3.6x

P/B

1.3x

EQT Corporation engages in the exploration, production, gathering, and transmission of hydrocarbons and natural gas. The company sells natural gas, natural gas liquids, and oil to marketers, utilities, and industrial customers located in the Appalachian Basin. It also provides marketing services and contractual pipeline capacity management services, as well as engages in risk management and hedging activities. In addition, it owns and operates propane storage and distribution terminals. The company was formerly known as Equitable Resources Inc. and changed its name to EQT Corporation in February 2009. EQT Corporation was founded in 1888 and is headquartered in Canonsburg, Pennsylvania.

How this company scores

ExcellentMetricSide Score: 88/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (18/25).

Profitability23/25

Growth22/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsRising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 12.8x5y range 2.5x – 103.0x

Currently near its 17-quarter median.

P/S · 3.6x5y range 0.9x – 5.7x

Currently above its 20-quarter median.

P/B · 1.3x5y range 0.7x – 1.6x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Share Dilution

Red Flag

Shares outstanding increased 22.8% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $33.96B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $9.35B
Q. Revenue: $1.77B
TTM EBITDA: $6.56B
TTM Op. Income: $3.91B
Q. Op. Income: $459.46M
TTM Net Income: $2.65B
Q. Net Income: $278.69M
EPS: $0.45
Shares Out.: $625.99M

$9.35B in TTM revenue grew 18.6% YoY, reaching $1.77B last quarter. TTM EBITDA of $6.56B and TTM operating income of $3.91B show growth is flowing through to the bottom line. TTM net income of $2.65B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 79.1%
EBITDA Margin: 62.1%
Op. Margin: 26.0%
Net Margin: 15.7%

Op. margin of 26.0% is down 4.8% YoY — costs are rising relative to revenue. Net margin at 15.7% and gross margin of 79.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 16% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 12.8x
P/S Ratio: 3.6x
P/B Ratio: 1.3x

At 12.8x P/E, the stock trades below typical market levels. P/S of 3.6x and P/B of 1.3x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 33% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $41.44B
Cash: $78.72M
Long-Term Debt: $5.55B
Book Value: $25.47B
D/E Ratio: 0.2
Debt/EBITDA: 5.1

With $41.44B in assets and $5.55B in long-term debt, D/E is 0.2and book value is $25.47B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 35% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.08B
TTM Free Cash Flow: $3.80B
FCF Margin: 40.7%
FCF / Net Income: 1.4

TTM FCF of $3.80B on $1.08B in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 53% — an improving trend.