EQT Corporation (EQT) Key Metrics
EQT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $33.97B
- Enterprise value
- $37.48B
- P/E (TTM)
- 12.6 10-yr median 9.2
- Forward P/E
- 14.1
- PEG ratio
- 1.49
- Price / sales
- 3.7 10-yr median 1.6
- Price / book
- 1.3 10-yr median 0.7
- EV / EBITDA
- 5.4 10-yr median 12.1
- Dividend yield
- 1.25% $0.68 a year
- Beta
- 0.65
EQT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsEQT valuation Price multiples at each fiscal year-end price.
EQT returns How much profit the business earns on the capital it uses.
EQT per-share figures Results divided by the shares outstanding at year-end.
EQT financial health Debt, liquidity and how easily interest is covered.
EQT efficiency & capital use Working capital cycle and where the cash goes.
EQT valuation history
EQT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
EQT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
EQT cash returned to shareholders
EQT price vs earnings per share
EQT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $33.48B | $25.80B | $15.98B | $13.75B | $7.05B | $3.31B | $2.78B | $4.93B | $5.82B | $5.94B |
| Enterprise value | $41.16B | $34.97B | $21.74B | $18.01B | $12.58B | $8.24B | $8.10B | $10.42B | $13.00B | $8.10B |
| P/E ratio | 16.4 | 111.9 | 9.2 | 7.8 | — | — | — | — | 3.9 | — |
| Price / sales | 3.7 | 4.9 | 3.2 | 1.1 | 1.0 | 1.2 | 0.7 | 1.0 | 1.9 | 3.2 |
| Price / book | 1.4 | 1.3 | 1.1 | 1.2 | 0.7 | 0.4 | 0.3 | 0.4 | 0.4 | 0.7 |
| Price / free cash flow | 11.8 | 45.0 | 13.8 | 6.7 | 11.6 | 6.7 | 11.2 | — | — | — |
| Price / operating cash flow | 6.5 | 9.1 | 5.0 | 4.0 | 4.2 | 2.2 | 1.5 | 1.7 | 3.6 | 5.6 |
| EV / sales | 4.5 | 6.7 | 4.3 | 1.5 | 1.8 | 3.1 | 2.1 | 2.2 | 4.4 | 4.4 |
| EV / EBITDA | 7.0 | 12.1 | 5.4 | 4.2 | 29.3 | 18.3 | 40.4 | — | 9.1 | 49.2 |
| EV / free cash flow | 14.5 | 61.0 | 18.7 | 8.8 | 20.7 | 16.6 | 32.5 | — | — | — |
| Earnings yield | 6.1% | 0.9% | 10.9% | 12.9% | −16.2% | −28.9% | −43.9% | −45.5% | 25.9% | −7.6% |
| Free cash flow yield | 8.5% | 2.2% | 7.3% | 14.8% | 8.6% | 15.0% | 9.0% | −15.3% | −19.3% | −25.7% |
| Dividend yield | 1.2% | 1.3% | 1.4% | 1.5% | 2.9% | 0.2% | 1.1% | 0.6% | 0.4% | 0.3% |
| Shareholder yield (dividends + buybacks) | 1.2% | 1.3% | 2.7% | 4.5% | 3.1% | 0.2% | 1.4% | 11.6% | 0.4% | 0.3% |
| Share price at fiscal year-end | $53.60 | $46.11 | $38.66 | $33.83 | $21.81 | $12.71 | $10.90 | $18.89 | $30.99 | $35.60 |
| Per share | ||||||||||
| Revenue per share | $14.53 | $9.33 | $12.27 | $29.87 | $21.16 | $10.20 | $14.89 | $18.15 | $15.92 | $11.12 |
| Earnings per share | $3.27 | $0.41 | $4.20 | $4.36 | −$3.54 | −$3.68 | −$4.79 | −$8.60 | $8.04 | −$2.71 |
| Operating cash flow per share | $8.21 | $5.05 | $7.69 | $8.53 | $5.14 | $5.90 | $7.26 | $11.41 | $8.72 | $6.37 |
| Free cash flow per share | $4.54 | $1.02 | $2.81 | $5.01 | $1.88 | $1.90 | $0.98 | −$2.90 | −$5.97 | −$9.14 |
| Cash per share | $0.18 | $0.36 | $0.20 | $3.59 | $0.35 | $0.07 | $0.02 | $0.01 | $0.78 | $8.32 |
| Book value per share | $38.03 | $36.81 | $35.75 | $27.48 | $30.80 | $35.51 | $38.42 | $42.00 | $70.95 | $54.61 |
| Tangible book value per share | $34.41 | $32.71 | $35.70 | $27.48 | $30.80 | $35.51 | $38.32 | $35.84 | $56.38 | $54.61 |
| Dividends per share | $0.62 | $0.58 | $0.55 | $0.50 | $0.63 | $0.03 | $0.12 | $0.12 | $0.11 | $0.12 |
| Capex per share | $3.66 | $4.03 | $4.89 | $3.51 | $3.26 | $4.00 | $6.28 | $14.30 | $14.69 | $15.52 |
| Debt per share | $12.49 | $16.74 | $14.14 | $14.06 | $17.46 | $19.00 | $20.86 | $21.07 | $39.05 | $21.24 |
| Shares outstanding | 624.5M | 559.6M | 413.2M | 406.5M | 323.2M | 260.6M | 255.1M | 260.9M | 187.7M | 167.0M |
| Change in shares outstanding | +11.6% | +35.4% | +1.7% | +25.8% | +24.0% | +2.1% | −2.2% | +39.0% | +12.4% | +9.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.2% | 1.3% | 13.4% | 16.8% | −11.9% | −10.1% | −11.8% | −18.5% | 13.4% | −6.4% |
| Return on invested capital (ROIC) | 8.0% | 2.5% | 10.6% | 13.4% | −7.2% | −4.7% | −5.8% | −11.9% | 2.4% | −6.7% |
| Return on assets (ROA) | 5.0% | 0.7% | 7.2% | 7.8% | −5.6% | −5.2% | −6.2% | −8.9% | 6.7% | −3.1% |
| Return on tangible assets | 5.2% | 0.6% | 6.9% | 7.8% | −5.0% | −5.3% | −6.5% | −11.7% | 5.6% | −2.9% |
| Free cash flow margin | 31.3% | 11.0% | 22.9% | 16.8% | 8.9% | 18.6% | 6.6% | −16.0% | −37.5% | −82.2% |
| Income quality (OCF / net income) | 2.51 | 12.26 | 1.83 | 1.96 | — | — | — | — | 1.09 | — |
| Financial health | ||||||||||
| Total debt | $7.80B | $9.37B | $5.84B | $5.71B | $5.64B | $4.95B | $5.32B | $5.50B | $7.33B | $3.55B |
| Cash & short-term investments | $110.8M | $202.1M | $81.0M | $1.46B | $114.0M | $18.2M | $4.6M | $3.5M | $147.3M | $1.39B |
| Net debt | $7.69B | $9.16B | $5.76B | $4.26B | $5.53B | $4.93B | $5.32B | $5.49B | $7.18B | $2.16B |
| Debt / equity | 0.33 | 0.45 | 0.40 | 0.51 | 0.57 | 0.53 | 0.54 | 0.50 | 0.55 | 0.39 |
| Debt / assets | 0.19 | 0.24 | 0.23 | 0.25 | 0.25 | 0.27 | 0.28 | 0.27 | 0.25 | 0.23 |
| Net debt / EBITDA | 1.31 | 3.18 | 1.42 | 1.00 | 12.89 | 10.96 | 26.54 | — | 5.03 | 13.09 |
| Current ratio | 0.76 | 0.70 | 0.99 | 1.08 | 0.44 | 0.69 | 1.30 | 0.84 | 0.94 | 2.27 |
| Quick ratio | 0.76 | 0.70 | 0.51 | 0.86 | 0.34 | 0.39 | 0.70 | 0.63 | 0.75 | 2.23 |
| Interest coverage | 7.2 | 1.5 | 10.5 | 10.9 | -4.7 | -3.4 | -5.8 | -12.2 | 2.3 | -5.8 |
| Working capital | −$589.7M | −$746.9M | −$23.9M | $282.2M | −$2.90B | −$547.0M | $409.0M | −$385.3M | −$69.2M | $1.02B |
| Invested capital | $31.44B | $29.76B | $20.53B | $15.43B | $15.48B | $14.19B | $15.12B | $16.45B | $20.50B | $11.28B |
| Tangible asset value | $25.10B | $21.98B | $14.76B | $11.21B | $9.97B | $9.26B | $9.78B | $9.35B | $15.68B | $9.12B |
| Net current asset value | −$12.54B | −$13.84B | −$8.49B | −$7.44B | −$10.49B | −$7.64B | −$7.25B | −$7.79B | −$9.94B | −$4.53B |
| Graham number | $52.86 | $18.47 | $58.12 | $51.91 | — | — | — | — | $113.26 | — |
| Graham net-net per share | −$21.15 | −$25.78 | −$22.38 | −$20.63 | −$35.01 | −$31.25 | −$31.01 | −$32.53 | −$55.03 | −$28.09 |
| Capital allocation | ||||||||||
| Dividends paid | $389.6M | $326.6M | $228.3M | $203.6M | $203.6M | $7.7M | $30.7M | $31.4M | $20.8M | $20.2M |
| Share buybacks (net) | $0 | $0 | $201.0M | $409.5M | $12.9M | $0 | $7.2M | $538.9M | $30,000 | $30,000 |
| Dividend payout ratio | 19.1% | 141.6% | 13.2% | 11.5% | — | — | — | — | 1.4% | — |
| Dividends + buybacks / free cash flow | 13.7% | 57.0% | 37.0% | 30.1% | 35.7% | 1.5% | 15.2% | — | — | — |
| Capex / revenue | 25.2% | 43.2% | 39.8% | 11.8% | 15.4% | 39.2% | 42.2% | 78.8% | 92.3% | 139.5% |
| Capex / operating cash flow | 44.6% | 79.7% | 63.5% | 41.2% | 63.5% | 67.8% | 86.5% | 125.4% | 168.4% | 243.4% |
| Capex / depreciation | 0.88 | 1.04 | 1.17 | 0.84 | 0.62 | 0.72 | 1.00 | 2.10 | 2.60 | 2.79 |
| Stock-based compensation / revenue | 0.7% | 3.0% | 1.0% | 0.4% | 0.4% | 0.7% | 0.8% | 0.5% | 3.2% | 2.4% |
| SG&A / revenue | 4.2% | 5.4% | 4.1% | 2.1% | 3.4% | 6.9% | 6.7% | 6.0% | 8.8% | 14.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 54.6 | 75.0 | 90.8 | 45.8 | 53.5 | 101.3 | 109.6 | 79.1 | 62.3 | 51.0 |
| Days of inventory on hand | — | — | 79.2 | 60.6 | 50.8 | 155.3 | 136.7 | 73.1 | 43.4 | 79.8 |
| Days payables outstanding | 100.1 | 100.4 | 125.9 | 130.3 | 97.1 | 174.0 | 196.0 | 180.5 | 163.4 | 106.5 |
| Cash conversion cycle (days) | -45.5 | -25.4 | 44.1 | -23.9 | 7.2 | 82.5 | 50.3 | -28.3 | -57.7 | 24.2 |
| Receivables turnover | 6.68 | 4.87 | 4.02 | 7.97 | 6.82 | 3.60 | 3.33 | 4.62 | 5.85 | 7.16 |
| Payables turnover | 3.65 | 3.64 | 2.90 | 2.80 | 3.76 | 2.10 | 1.86 | 2.02 | 2.23 | 3.43 |
| Inventory turnover | — | — | 4.61 | 6.02 | 7.18 | 2.35 | 2.67 | 4.99 | 8.42 | 4.58 |
| Asset turnover | 0.22 | 0.16 | 0.21 | 0.53 | 0.33 | 0.14 | 0.19 | 0.19 | 0.13 | 0.13 |
| Average receivables | $1.36B | $1.07B | $1.26B | $1.52B | $1.00B | $737.7M | $1.14B | $1.03B | $510.3M | $259.3M |
| Average payables | $1.27B | $1.23B | $1.42B | $1.46B | $1.02B | $750.9M | $928.2M | $893.2M | $518.2M | $300.8M |
| Average inventory | — | — | $895.5M | $677.9M | $535.2M | $669.9M | $647.2M | $361.8M | $137.5M | $225.2M |
| Intangibles / total assets | 5.4% | 5.8% | 0.1% | 0.0% | 0.0% | 0.0% | 0.1% | 7.7% | 9.3% | 0.0% |
Computed from EQT's annual financial statements (latest annual report filed February 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
EQT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), EQT traded at 16.4 times earnings, against a 10-year median of 9.2. Based on the latest twelve months, the trailing P/E is 12.6 and the forward P/E is 14.1. EQT earned a return on equity of 9.2% and a return on invested capital of 8.0% in fiscal 2025. It ended the year with $7.8 billion of debt and $110.8 million in cash and short-term investments, net debt of $7.7 billion. It returned $389.6 million to shareholders: $389.6 million in dividends and $0 in share buybacks, 14% of free cash flow. The share count rose 274.0% from 167.0M to 624.5M over 9 years.
See the EQT income statement, the EQT chart for price history, or the EQT stock overview for the latest quote and news.
EQT key metrics FAQ
What is EQT's P/E ratio?
EQT's trailing P/E ratio is 12.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.1. At the end of fiscal 2025 it was 16.4, compared with a 10-year median of 9.2.
What is EQT's EV/EBITDA?
EQT's enterprise value was 7.0 times EBITDA at the end of fiscal 2025 (enterprise value $41.2 billion, EBITDA $5.9 billion); the current EV/EBITDA is 5.4.
What is EQT's return on equity?
EQT's return on equity (ROE) was 9.2% in fiscal 2025: net income of $2.0 billion on average shareholders' equity of $22.2 billion.
What is EQT's ROIC?
EQT's return on invested capital was 8.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does EQT have?
EQT had total debt of $7.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.33 and $7.7 billion of net debt (1.31 times EBITDA).
What is EQT's dividend yield?
EQT's forward dividend yield is 1.25%. EQT paid $389.6 million in dividends in fiscal 2025 ($0.62 per share), a payout ratio of 19.1%.
What is EQT's free cash flow yield?
EQT generated $2.8 billion of free cash flow in fiscal 2025, a free cash flow yield of 8.5% on its market value at year-end ($33.5 billion).
What is EQT's current ratio?
EQT's current ratio was 0.76 at the end of fiscal 2025: current assets were 0.76 times current liabilities.