Expand Energy (EXE) Stock Fundamentals, Analysis & Risk Signals

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

Expand Energy

NasdaqGS•Energy•Oil & Gas E&P

$89.46-1.09(-0.01%)Pre-market

Market Cap

$20.97B

P/E

7.6x

P/S

1.5x

P/B

1.1x

Expand Energy Corporation operates as an independent natural gas production company in the United States. The company engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids. It holds interests in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania; the Marcellus and Utica Shales in Ohio and West Virginia; and the Haynesville and Bossier Shales in Louisiana and Texas. Expand Energy Corporation was formerly known as Chesapeake Energy Corporation and changed its name to Expand Energy Corporation in October 2024. The company was founded in 1989 and is based in Spring, Texas.

How this company scores

ExcellentMetricSide Score: 80/100

Strongest: Growth (22/25); weakest: Balance Sheet & Red Flags (18/25).

Profitability20/25

Growth22/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality20/25

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 · 7.6x5y range 1.4x – 135.1x

Currently near its 15-quarter median.

P/S · 1.5x5y range 0.7x – 4.9x

Currently near its 20-quarter median.

P/B · 1.1x5y range 0.9x – 2.0x

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.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 0.4x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $20.97B

Metrics at a Glance

as of September 2026

Revenue & Profit

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

TTM Revenue: $13.91B
Q. Revenue: $3.29B
TTM EBITDA: $6.52B
TTM Op. Income: $3.58B
Q. Op. Income: $640.00M
TTM Net Income: $2.75B
Q. Net Income: $519.00M
EPS: $2.24
Shares Out.: $231.56M

$13.91B in TTM revenue grew 28.2% YoY, reaching $3.29B last quarter. TTM EBITDA of $6.52B and TTM operating income of $3.58B show growth is flowing through to the bottom line. TTM net income of $2.75B means revenue is converting into profit. Over the past year, TTM revenue is up 28% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 42.3%
Op. Margin: 19.5%
Net Margin: 15.8%

Op. margin of 19.5% is down 5.0% YoY — costs are rising relative to revenue. Net margin at 15.8% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

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

P/E Ratio: 7.6x
P/S Ratio: 1.5x
P/B Ratio: 1.1x

At 7.6x P/E, the stock trades below typical market levels. P/S of 1.5x and P/B of 1.1x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 74% — a weakening trend.

Assets & Liabilities

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

Total Assets: $29.74B
Cash: $118.00M
Long-Term Debt: $4.63B
Book Value: $19.50B
D/E Ratio: 0.2
Debt/EBITDA: 3.3

With $29.74B in assets and $4.63B in long-term debt, D/E is 0.2and book value is $19.50B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 14% — a weakening trend.

Cash Flow

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

Op. Cash Flow: $1.18B
TTM Free Cash Flow: $2.59B
FCF Margin: 18.6%
FCF / Net Income: 0.9

TTM FCF of $2.59B on $1.18B in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.