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EQT Corporation

EQT
67
Oil & Gas Exploration & Production · Energy
Also trades as: EQT.ST EUR 299.40 (+1.70%) · 0IDU.L GBP 0.56 (+2.22%) · EQT.AX AUD 21.58 (-1.91%)
Price
$55.63
+0.96 (+1.76%)
Market Cap
$34.80B
Winston Score
67
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 24, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Strong
23/30
Growth
Strong
14/20
Cash Flow
Exceptional
10/10
Stability
Exceptional
9/10
Valuation
Strong
7/10
Ownership
Weak
2/15
Dividends
Mixed
2/5

67 of 100 counted points = Winston Score 67.

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Share count rising — dilution

+93.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 323.2M (2021) → 624.5M (2025)

§Winston Score History

The full picture

EQT Corporation is one of the largest natural gas producers in the United States. It drills for and extracts natural gas from the Appalachian Basin, a large underground formation stretching across Pennsylvania, West Virginia, and Ohio. The gas it produces is sold to utilities, industrial customers, and energy traders who move it through pipelines across the country.

EQT makes money by selling the natural gas it pulls out of the ground, with revenue rising and falling based on natural gas prices and how much it produces. The company operates almost entirely in the United States and produces roughly 2 trillion cubic feet of gas equivalent per year, making it a dominant player in Appalachian production. Its main competitive advantage is its large, low-cost acreage position in the Marcellus and Utica shale formations. The biggest risk EQT faces is its heavy exposure to natural gas prices, which can swing sharply and directly impact how much money the company earns.

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22 trades / 12mo

13 Congressional buys and 9 sells on EQT in the last 12 months.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-29.2% YoY

YoY Growth Rate

Revenue declining

Reported EPS Growth

-66.4% YoY

Quarterly reporting periods ended:

30 Jun 2025: $1.31

30 Jun 2026: $0.44

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$4.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

EQT Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
73.2%
Premium pricing power — 73.2% gross margin
Profit after running costs
Operating Margin
25.1%
Excellent — 25.1% operating margin
Return on the money invested
ROCE
13.0%
Good — 13.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+16.0%
Fast-growing sales (+16.0% YoY)
Profit growth
EPS YoY
+143.3%
Earnings growing fast (+143.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
219%
Turns 219% of profit into real cash
Spare cash per sale
FCF Margin
40.6%
Converts sales into free cash efficiently (40.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.22
Conservative — low debt load (0.22)
Covers its interest
Interest Cover
10.34x
Comfortably covers interest (10.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
12.2x
Attractive valuation — P/E 12.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+2.7
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
1.30%
Small dividend — 1.30% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+4.8%
Dividend growing modestly (4.8% YoY)
Payout Ratio
14%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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