# Cheniere Energy, Inc. (LNG)

> Source: Nexqual · https://nexqual.com/LNG · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Cheniere Energy, Inc. (LNG), nexqual.com/LNG" · informational, not investment advice.

**Price:** USD 287.01 (+0.98% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 284.22 · day 277.63–289.39 · 52w 186.2–300.89 · market cap $59.3B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $22.2B, net income $2.92B (13.1% margin), free cash flow $2.79B (SEC filings).
- Valuation: P/E 20.3x (avg 9.1x at the last 3 fiscal year-ends), EV/EBITDA 10.5x, net debt $22.9B.
- Analysts: Buy (mean 1.86 on a 1–5 scale) (22 analysts), mean target USD 313.9 (range 262–340).
- Total return with dividends: 1Y +30.8% vs S&P 500 +14.9%; 5Y +186.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 4.73, revenue estimate $5.37B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $17.5B | $33.4B | $20.4B | $15.7B | $20.0B | $22.2B |
| Operating income | -$701M | $4.56B | $15.5B | $6.13B | $9.11B | $6.42B |
| Net income | -$2.34B | $1.43B | $9.88B | $3.25B | $5.33B | $2.92B |
| EPS (diluted) | -$9.25 | $5.64 | $40.72 | $14.20 | $24.13 | — |
| Free cash flow | $1.50B | $8.69B | $6.30B | $3.16B | $2.46B | $2.79B |
| Operating margin | -4.0% | 13.6% | 75.9% | 39.0% | 45.6% | 28.9% |
| Net margin | -13.4% | 4.3% | 48.5% | 20.7% | 26.7% | 13.1% |
| Revenue growth | +87.3% | +90.7% | -39.0% | -23.0% | +27.2% | — |
| Cash + short-term investments | $1.40B | $1.35B | $4.07B | $2.64B | $1.10B | — |
| Total debt | $29.6B | $24.9B | $23.7B | $22.9B | $22.8B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 20.3x · P/S 2.7x · EV/EBITDA 10.5x · EV/Sales 3.7x · P/FCF 21.2x · P/B 9.6x · FCF yield 4.71% · Earnings yield 4.92% · Dividend yield (paid, TTM) 0.78% · Buyback yield (TTM) 5.31% · Net debt $22.9B · EV $82.2B
P/E at fiscal year-ends: Dec 2025 8.0x, Dec 2024 15.1x, Dec 2023 4.2x.

## Analysts
Consensus Buy (mean 1.86 on a 1–5 scale), 22 analysts; mean target USD 313.9 (low 262, high 340).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Bernstein | Reiterated | Outperform | $283 |
| 2026-10-07 | Barclays | Target raised | Overweight | $279 → $287 |
| 2026-09-10 | Scotiabank | Target raised | Sector Outperform | $290 → $312 |
| 2026-08-24 | RBC Capital | Target raised | Outperform | $300 → $319 |
| 2026-08-11 | TD Cowen | Target raised | Buy | $280 → $290 |
| 2026-08-07 | Barclays | Target raised | Overweight | $274 → $279 |
| 2026-07-24 | JP Morgan | Target raised | Overweight | $327 → $334 |
| 2026-07-16 | TD Cowen | Target raised | Buy | $270 → $280 |
| 2026-07-15 | Barclays | Target raised | Overweight | $271 → $274 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +30.8% | +186.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +30.9% | +23.4% |
| Volatility (annualized) | 28.8% | 30.1% |
| Max drawdown | -24.1% (Mar 2026→May 2026) | -24.4% (Jan 2025→Dec 2025) |

## Peers (Oil & Gas Midstream)
OKE (ONEOK, Inc.) USD 93.9 +0.84% · MPLX (MPLX LP) USD 58.18 -0.44% · TRGP (Targa Resources, Inc.) USD 289.54 -2.05% · TRP (TC Energy Corporation) USD 61.98 -0.53% · KMI (Kinder Morgan, Inc.) USD 33.72 -0.74% · EPD (Enterprise Products Partners L.) USD 36.52 -0.19%

## More
Full page: https://nexqual.com/LNG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in LNG's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/3570/000000357026000005/lng-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Blackstone Inc. (BX) | "partner interest in CQP in the form of 239.9 million common units, 100% of the general partner interest and 100% of the incentive distribution rights, with the remaining non-controlling limited partner interest held by B…" |
| Partner | Brookfield Asset Management Ltd. (BAM) | "partner interest in CQP in the form of 239.9 million common units, 100% of the general partner interest and 100% of the incentive distribution rights, with the remaining non-controlling limited partner interest held by B…" |
| Partner | Bechtel Energy | "Timely and cost-effective completion of the Corpus Christi Stage 3 Project, the CCL Midscale Trains 8 & 9 Project and any potential expansion projects, including the SPL Expansion Project and the CCL Expansion Project, i…" |
| Partner | CANADIAN NATURAL RESOURCES Ltd (CNQ) | "•In May 2025, Cheniere Marketing entered into an IPM agreement with Canadian Natural Resources Limited to purchase 140,000 MMBtu per day of natural gas at a price based on the Japan Korea Marker, less fixed LNG shipping …" |

Other companies that name LNG in their own reports (relationship from LNG's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Cheniere Energy Partners, L.P. (CQP) | 10-K 2026-02-26 | "Cheniere Energy Partners, L.P." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| LNG | $5.60B | 97.7% | +26.9% |
| Other | $43.0M | 0.8% | -27.1% |
| Regasification | $34.0M | 0.6% | +0.0% |
| Total revenue | $5.73B | 100% | — |

## Customer concentration

Period ended 2026-06-30: 12% of revenue from unnamed direct customers (10-Q, filed 2026-08-06).

## Company outlook (8-K filed 2026-08-06)

- "For the twelve months ended June 30, 2026, Cheniere generated net income of approximately $2.9 billion. • Raising full year 2026 Consolidated Adjusted EBITDA 3 guidance from $7.25 billion - $7.75 billion to $7.90 billion - $8.40 billion and full year 2026 Distributable Cash Flow 3 guidance from $4.75 billion - $5.25 billion to $5.30 billion - $5.80 billion."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $4.73 | $3.81 | +23.9% | $5.37B | 4 |
| Next quarter (ends 2026-12-31) | $5.66 | $5.15 | +10.0% | $6.03B | 4 |
| Current fiscal year (ends 2026-12-31) | $23.13 | $17.93 | +29.0% | $22.65B | 5 |
| Next fiscal year (ends 2027-12-31) | $20.72 | $19.74 | +5.0% | $23.40B | 6 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-29): ±5.1%; last 8 reports averaged ±3.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 43.1% | ±5.1% |
| 2026-11-06 | 14 | 38.3% | ±6.3% |
| 2026-11-13 | 21 | 34.7% | ±6.8% |
| 2026-11-20 | 28 | 34.4% | ±7.7% |
| 2026-11-27 | 35 | 32.9% | ±8.2% |
| 2026-12-04 | 42 | 32.4% | ±8.8% |
| 2026-12-18 | 56 | 31.5% | ±10.0% |
| 2027-01-15 | 84 | 31.2% | ±12.1% |