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

$50.35-0.06(<0.01%)After hours

Market Cap

$31.55B

P/E

11.6x

P/S

3.3x

P/B

1.2x

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. 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: 85/100

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

Profitability20/25

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 · 11.6x5y range 2.5x – 103.0x

Currently near its 16-quarter median.

P/S · 3.3x5y range 0.9x – 5.7x

Currently above its 20-quarter median.

P/B · 1.2x5y range 0.7x – 1.6x

Watch items

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

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Share Dilution

Red Flag

Shares outstanding increased 11.9% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $31.55B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $9.54B
Q. Revenue: $1.81B
TTM EBITDA: $6.75B
TTM Op. Income: $4.05B
Q. Op. Income: $394.04M
TTM Net Income: $2.71B
Q. Net Income: $211.43M
EPS: $0.34
Shares Out.: $625.96M

$9.54B in TTM revenue grew 32.3% YoY, reaching $1.81B last quarter. TTM EBITDA of $6.75B and TTM operating income of $4.05B show growth is flowing through to the bottom line. TTM net income of $2.71B means revenue is converting into profit. Over the past year, TTM revenue is up 32% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 78.7%
EBITDA Margin: 59.9%
Op. Margin: 21.8%
Net Margin: 11.7%

Op. margin of 21.8% is down 22.6% YoY — costs are rising relative to revenue. Net margin at 11.7% and gross margin of 78.7% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 51% — a weakening trend.

Price Ratios

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

P/E Ratio: 11.6x
P/S Ratio: 3.3x
P/B Ratio: 1.2x

At 11.6x P/E, the stock trades below typical market levels. P/S of 3.3x and P/B of 1.2x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 6 consecutive quarters — an improving trend.

Assets & Liabilities

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

Total Assets: $41.32B
Cash: $112.86M
Long-Term Debt: $5.54B
Book Value: $25.26B
D/E Ratio: 0.2
Debt/EBITDA: 5.1

With $41.32B in assets and $5.54B in long-term debt, D/E is 0.2and book value is $25.26B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 41% — a weakening trend.

Cash Flow

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

Op. Cash Flow: $1.05B
TTM Free Cash Flow: $3.76B
FCF Margin: 39.4%
FCF / Net Income: 1.4

TTM FCF of $3.76B on $1.05B 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 77% — a weakening trend.