Cheniere Energy Partners, L.P. (CQP) Balance Sheet
CQP balance sheet, 2025
December 31, 2025 · U.S. dollars$17.44B assets = $17.02B liabilities + $414.0M equity
Both columns are drawn to the same scale: what CQP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CQP financial health
Current ratio0.78
Tight · current assets cover current liabilities 0.78×
Debt / equity4.65
High leverage · $4.65 of debt for each $1 of equity
Equity / assets18.1%
Thin equity · of assets funded by shareholders
Cash / debt1.4%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
CQP balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.54B2016 | $17.44B2025 | +1.3%/yr | |
| Total liabilities | $15.10B2016 | $17.02B2025 | +1.3%/yr | |
| Shareholders’ equity | $432.0M2016 | $3.16B2025 | +24.7%/yr | |
| Cash & short-term investments | $604.9M2016 | $201.0M2025 | −11.5%/yr | |
| Total debt | $14.43B2016 | $14.69B2025 | +0.2%/yr | |
| Net cash (debt) | −$13.83B2016 | −$14.48B2025 | −$657.2M | |
| Working capital | $102.5M2016 | −$370.0M2025 | −$472.5M | |
| Book value per share | $1.282016 | $6.522025 | +19.8%/yr | |
| Current ratio | 1.122016 | 0.782025 | −0.34 | |
| Debt / equity | 33.412016 | 4.652025 | −28.76 | |
| Shares outstanding | 337.8M2016 | 484.0M2025 | +4.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CQP assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
CQP liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
CQP debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CQP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $201.0M | $379.0M | $575.0M | $904.0M | $974.0M | $1.21B | $1.78B | $1.77B | $1.59B | $604.9M |
| Cash & equivalents | $201.0M | $379.0M | $575.0M | $904.0M | $974.0M | $1.21B | $1.78B | $1.54B | $1.59B | $604.9M |
| Short-term investments | — | $109.0M | — | — | — | — | — | $228.0M | $14.0M | $37.7M |
| Receivables | $894.0M | $646.0M | $651.0M | $1.18B | $954.0M | $502.0M | $402.0M | $462.0M | $354.0M | $189.0M |
| Inventory | $180.0M | $151.0M | $142.0M | $160.0M | $176.0M | $107.0M | $116.0M | $99.0M | $95.0M | $97.4M |
| Other current assets | $63.0M | $149.0M | $213.0M | $378.0M | $108.0M | $316.0M | $408.0M | $26.0M | $101.0M | $66.9M |
| Total current assets | $1.34B | $1.32B | $1.58B | $2.62B | $2.21B | $2.13B | $2.71B | $2.36B | $2.14B | $958.3M |
| Property, plant & equipment (net) | $15.34B | $15.84B | $16.29B | $16.81B | $16.93B | $16.82B | $16.46B | $15.39B | $15.14B | $14.16B |
| Goodwill & intangible assets | $0 | $0 | $16.0M | $8.0M | $0 | $12.0M | $12.0M | $40.0M | $48.0M | $54.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $33.0M | $11.0M | $32.0M | $31.0M | $31.0M | $82.9M |
| Other non-current assets | $764.0M | $289.0M | $212.0M | $191.0M | $185.0M | $165.0M | $171.0M | $157.0M | $196.0M | $288.2M |
| Total assets | $17.44B | $17.45B | $18.10B | $19.63B | $19.36B | $19.14B | $19.38B | $17.97B | $17.55B | $15.54B |
| Liabilities | ||||||||||
| Accounts payable | $53.0M | $62.0M | $69.0M | $32.0M | $21.0M | $12.0M | $40.0M | $15.0M | $12.0M | $27.2M |
| Short-term debt | $318.0M | $361.0M | $300.0M | $10.0M | $8.0M | $7.0M | $6.0M | $870.0M | $0 | $225.1M |
| Deferred revenue | $123.0M | $123.0M | $117.0M | $147.0M | $156.0M | $138.0M | $156.0M | $117.0M | $112.0M | $73.3M |
| Total current liabilities | $1.71B | $1.71B | $1.57B | $2.42B | $1.34B | $883.0M | $966.0M | $1.07B | $829.0M | $855.7M |
| Long-term debt | $14.22B | $14.83B | $15.62B | $16.20B | $17.18B | $17.58B | $17.58B | $16.07B | $16.05B | $14.21B |
| Lease obligations | — | — | $85.0M | $108.0M | $97.0M | $97.0M | $93.0M | — | — | — |
| Other long-term liabilities | $1.09B | $1.42B | $1.70B | $3.15B | $118.0M | $143.0M | $124.0M | $40.0M | $39.0M | $34.3M |
| Total liabilities | $17.02B | $17.96B | $18.89B | $21.76B | $18.64B | $18.61B | $18.67B | $17.17B | $16.91B | $15.10B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $3.16B | $1.82B | $1.04B | −$1.12B | $1.02B | $714.0M | $796.0M | $816.0M | $627.0M | $431.9M |
| Retained earnings (deficit) | — | — | — | $5.58B | $3.08B | — | — | $0 | $0 | $0 |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | −$1.12B | $1.02B | $714.0M | $796.0M | −$1.31B | −$897.0M | −$566.0M |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $3.16B | $1.82B | $1.04B | −$1.12B | $1.02B | $714.0M | $796.0M | $800.0M | $627.0M | $432.0M |
| Key figures | ||||||||||
| Total debt | $14.69B | $15.27B | $15.99B | $16.31B | $17.27B | $17.68B | $17.67B | $16.94B | $16.05B | $14.43B |
| Net cash (debt) | −$14.48B | −$14.89B | −$15.42B | −$15.40B | −$16.30B | −$16.47B | −$15.89B | −$15.17B | −$14.46B | −$13.83B |
| Working capital | −$370.0M | −$387.0M | $15.0M | $199.0M | $867.0M | $1.25B | $1.74B | $1.29B | $1.31B | $102.5M |
| Tangible book value | $3.16B | $1.82B | $1.02B | −$1.13B | $1.02B | $702.0M | $784.0M | $760.0M | $579.0M | $377.2M |
| Book value per share | $6.52 | $3.76 | $2.14 | −$2.31 | $2.12 | $1.79 | $1.64 | $1.65 | $1.30 | $1.28 |
| Shares outstanding | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 399.3M | 484.0M | 484.0M | 484.0M | 337.8M |
| Current ratio | 0.78 | 0.77 | 1.01 | 1.08 | 1.64 | 2.42 | 2.80 | 2.21 | 2.58 | 1.12 |
| Quick ratio | 0.64 | 0.60 | 0.78 | 0.86 | 1.43 | 1.94 | 2.26 | 2.09 | 2.34 | 0.93 |
| Debt / equity | 4.65 | 8.38 | 15.41 | — | 16.87 | 24.76 | 22.20 | 21.17 | 25.59 | 33.41 |
| Equity / assets | 18.1% | 10.4% | 5.7% | −5.7% | 5.3% | 3.7% | 4.1% | 4.5% | 3.6% | 2.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $443.0M | $301.0M | $201.0M | $164.0M | $108.0M | $94.0M | $379.0M | $411.0M | $351.0M | $333.0M | $575.0M | $499.0M |
| Cash & equivalents | $443.0M | $301.0M | $201.0M | $164.0M | $108.0M | $94.0M | $379.0M | $331.0M | $351.0M | $333.0M | $575.0M | $499.0M |
| Short-term investments | — | — | — | — | — | — | — | $80.0M | — | — | — | — |
| Receivables | $810.0M | $734.0M | $894.0M | $719.0M | $409.0M | $670.0M | $646.0M | $239.0M | $430.0M | $397.0M | $651.0M | $454.0M |
| Inventory | $165.0M | $151.0M | $180.0M | $147.0M | $153.0M | $164.0M | $151.0M | $135.0M | $144.0M | $134.0M | $142.0M | $131.0M |
| Other current assets | $102.0M | $64.0M | $63.0M | $89.0M | $347.0M | $232.0M | $149.0M | $401.0M | $303.0M | $239.0M | $213.0M | $270.0M |
| Total current assets | $1.52B | $1.25B | $1.34B | $1.12B | $1.02B | $1.16B | $1.32B | $1.19B | $1.23B | $1.10B | $1.58B | $1.35B |
| Property, plant & equipment (net) | $15.03B | $15.18B | $15.34B | $15.48B | $15.62B | $15.72B | $15.84B | $15.95B | $16.07B | $16.15B | $16.29B | $16.42B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16.0M | $17.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.12B | $675.0M | $764.0M | $239.0M | $295.0M | $218.0M | $289.0M | $252.0M | $212.0M | $245.0M | $212.0M | $277.0M |
| Total assets | $17.68B | $17.11B | $17.44B | $16.83B | $16.93B | $17.09B | $17.45B | $17.39B | $17.52B | $17.50B | $18.10B | $18.07B |
| Liabilities | ||||||||||||
| Accounts payable | $82.0M | $52.0M | $53.0M | $58.0M | $71.0M | $68.0M | $62.0M | $51.0M | $51.0M | $34.0M | $69.0M | $50.0M |
| Short-term debt | $109.0M | $1.61B | $318.0M | $605.0M | $609.0M | $104.0M | $361.0M | $700.0M | $798.0M | $2.15B | $300.0M | $371.0M |
| Deferred revenue | $102.0M | $93.0M | $123.0M | $150.0M | $111.0M | $82.0M | $123.0M | $137.0M | $78.0M | $84.0M | $117.0M | $152.0M |
| Total current liabilities | $1.24B | $2.98B | $1.71B | $1.70B | $1.66B | $1.31B | $1.71B | $1.73B | $1.89B | $2.95B | $1.57B | $1.55B |
| Long-term debt | $14.34B | $12.61B | $14.16B | $14.16B | $14.21B | $14.71B | $14.83B | $14.82B | $14.80B | $13.62B | $15.61B | $15.62B |
| Lease obligations | — | — | — | — | — | — | — | $146.0M | $148.0M | $82.0M | $85.0M | $100.0M |
| Other long-term liabilities | $1.35B | $1.43B | $1.15B | $1.33B | $1.40B | $1.45B | $1.42B | $1.46B | $1.58B | $1.75B | $1.71B | $1.88B |
| Total liabilities | $16.93B | $17.03B | $17.02B | $17.18B | $17.27B | $17.47B | $17.96B | $18.01B | $18.27B | $18.32B | $18.89B | $19.05B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3.69B | $2.94B | $3.16B | $2.30B | $2.20B | $2.05B | $1.82B | $1.60B | $1.37B | $1.21B | $1.04B | $647.0M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | — | $647.0M |
| Total shareholders' equity | $3.69B | $2.94B | $3.16B | $2.30B | $2.20B | $2.05B | $1.82B | $1.60B | $1.37B | $1.21B | $1.04B | $647.0M |
| Key figures | ||||||||||||
| Total debt | $14.44B | $14.22B | $14.69B | $14.76B | $14.82B | $14.82B | $15.27B | $15.60B | $15.75B | $15.84B | $15.99B | $16.05B |
| Net cash (debt) | −$14.00B | −$13.92B | −$14.48B | −$14.60B | −$14.71B | −$14.72B | −$14.89B | −$15.19B | −$15.40B | −$15.51B | −$15.42B | −$15.55B |
| Working capital | $278.0M | −$1.73B | −$370.0M | −$578.0M | −$638.0M | −$153.0M | −$387.0M | −$543.0M | −$658.0M | −$1.84B | $15.0M | −$195.0M |
| Tangible book value | $3.69B | $2.94B | $3.16B | $2.30B | $2.20B | $2.05B | $1.82B | $1.60B | $1.37B | $1.21B | $1.02B | $630.0M |
| Book value per share | $7.63 | $6.07 | $6.52 | $4.74 | $4.54 | $4.24 | $3.76 | $3.31 | $2.83 | $2.49 | $2.14 | $1.34 |
| Shares outstanding | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M | 484.0M |
| Current ratio | 1.22 | 0.42 | 0.78 | 0.66 | 0.61 | 0.88 | 0.77 | 0.69 | 0.65 | 0.37 | 1.01 | 0.87 |
| Quick ratio | 1.01 | 0.35 | 0.64 | 0.52 | 0.31 | 0.58 | 0.60 | 0.38 | 0.41 | 0.25 | 0.78 | 0.62 |
| Debt / equity | 3.91 | 4.84 | 4.65 | 6.43 | 6.75 | 7.22 | 8.38 | 9.74 | 11.48 | 13.15 | 15.41 | 24.81 |
| Equity / assets | 20.9% | 17.2% | 18.1% | 13.6% | 13.0% | 12.0% | 10.4% | 9.2% | 7.8% | 6.9% | 5.7% | 3.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
CQP financial position
At the end of fiscal 2025 (December 31, 2025), Cheniere Energy Partners had total assets of $17.4 billion (down 0.1% from a year earlier), total liabilities of $17.0 billion and shareholders' equity of $3.2 billion. It held $201.0 million in cash and short-term investments against $14.7 billion of debt, net debt of $14.5 billion. Its current ratio was 0.78. In the latest quarter (ended June 30, 2026) total assets were $17.7 billion and equity $3.7 billion.
Related: CQP income statement, CQP cash flow statement, CQP key metrics. See the CQP stock overview for the latest quote and news.
CQP balance sheet FAQ
What are Cheniere Energy Partners's total assets?
Cheniere Energy Partners reported total assets of $17.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $17.5 billion a year earlier.
How much debt does Cheniere Energy Partners have?
Cheniere Energy Partners had $14.7 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 4.65.
How much cash does Cheniere Energy Partners have?
Cheniere Energy Partners held $201.0 million in cash and short-term investments at the end of fiscal 2025; with $14.7 billion of debt that is net debt of $14.5 billion.
What is Cheniere Energy Partners's book value?
Cheniere Energy Partners's shareholders' equity (book value) was $3.2 billion at the end of fiscal 2025, or $6.52 per share.
What is Cheniere Energy Partners's current ratio?
Cheniere Energy Partners had current assets of $1.3 billion and current liabilities of $1.7 billion, a current ratio of 0.78 (current liabilities exceed current assets).