Cheniere Energy Partners, L.P. Common Units Representing Limited Partner Interests (CQP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.01	$1.3	+28.7%	—	$2.6B	—
Q1 26	$1.22	$1.71	+40.2%	—	$3.6B	—
Q3 25	$1.11	$1.09	-1.8%	—	$2.4B	—
Q2 25	$0.96	$0.81	-15.6%	—	—	—
Q1 25	$1.12	$1.41	+25.9%	—	—	—
Q4 24	$1.07	$1.09	+1.9%	—	—	—
Q3 24	$0.97	$1.01	+4.1%	—	—	—
Q2 24	$0.97	$0.97	0.0%	—	—	—
Q1 24	$1.08	$1.32	+22.2%	—	—	—
Q4 23	$1.01	$1.41	+39.6%	—	—	—
Q3 23	$0.94	$0.89	-5.3%	—	—	—
Q2 23	$0.91	$0.81	-11.0%	—	$1.9B	—
Q1 23	$1.28	$1.37	+7.0%	—	$2.9B	—
Q4 22	$1.72	$2.5	+45.3%	—	$4.7B	—
Q3 22	$1.85	$2.26	+22.2%	—	$5B	—
Q2 22	$1.01	$1.26	+24.8%	—	$4.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$5.17	—	—	$10.8B	—
FY24	—	$4.25	—	—	$8.7B	—
FY23	—	$6.95	—	—	$9.7B	—
FY22	—	$3.27	—	—	$17.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.1B	$4.3B	$6.4B	$6.8B	$6.2B	$9.4B	$17.2B	$9.7B	$8.7B	$10.8B
YoY change	+307.4%	+291.3%	+49.3%	+6.41%	-9.81%	+53%	+82.4%	-43.8%	-9.93%	+23.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.1B	4.3B	6.4B	6.8B	6.2B	9.4B	17.2B	9.7B	8.7B	10.8B
Cost of revenue	568M	2.7B	3.8B	3.9B	3.1B	5.9B	12.7B	3.4B	4.3B	5.8B
Gross profit	532M	1.6B	2.6B	2.9B	3B	3.5B	4.5B	6.2B	4.5B	4.9B
Gross margin	48.4%	38.2%	40.4%	42.8%	49.2%	37%	26%	64.7%	51.1%	45.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	103M	95M	86M	113M	110M	94M	97M	99M	100M	105M
Operating expenses	103.4M	97M	86M	113M	110M	106M	97M	106M	116M	110M
Operating income	250M	1.2B	2B	2B	2.1B	2.6B	3.4B	5B	3.3B	3.7B
Operating margin	22.7%	26.9%	30.9%	29.9%	34.5%	27.1%	19.6%	52.1%	37.7%	34.4%
Non-operating income, net	-64M	-54M	20M	13M	-38M	-97M	-33M	-5M	-3M	16M
Pretax income	-171M	490M	1.3B	1.2B	1.2B	1.6B	2.5B	4.3B	2.5B	3B
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	-171M	490M	1.3B	1.2B	1.2B	1.6B	2.5B	4.3B	2.5B	3B
Net margin	-15.5%	11.4%	19.8%	17.2%	19.2%	17.3%	14.5%	44%	28.8%	27.8%
EBITDA	408M	1.5B	2.4B	2.6B	2.7B	3.1B	4B	5.8B	4B	4.4B
EPS	-0.2	-1.32	2.51	2.25	2.32	3	3.27	6.95	4.25	5.17
Diluted EPS	-0.2	-1.32	2.51	2.25	2.32	3	3.27	6.95	4.25	5.17

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	2.4B	2.9B	3.6B	2.6B
Cost of revenue	—	—	—	—	—	—	—	—	1.5B	1.1B	2.9B	939M
Gross profit	1.3B	1.4B	1.2B	1.1B	1.1B	1.1B	1.1B	1.1B	953M	1.8B	664M	1.6B
Gross margin	—	—	—	—	—	—	—	—	39.6%	60.8%	18.4%	63.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	26M	26M	27M	26M
Operating expenses	—	—	—	—	—	—	—	—	26M	28M	29M	29M
Operating income	—	—	—	—	—	—	—	—	696M	1.5B	361M	1.3B
Operating margin	—	—	—	—	—	—	—	—	29%	50.5%	10%	51.9%
Non-operating income, net	—	—	—	—	—	—	—	—	-6M	0	1M	4M
Pretax income	—	—	—	—	—	—	—	—	506M	1.3B	186M	1.2B
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	—	—	—	—	—	—	—	—	506M	1.3B	186M	1.2B
Net margin	—	—	—	—	—	—	—	—	21%	44.2%	5.17%	44.9%
EBITDA	—	—	—	—	—	—	—	—	875M	1.6B	541M	1.5B
EPS	1.19	—	1.18	0.95	1.08	1.05	1.08	0.91	0.8	2.38	0.19	2.14
Diluted EPS	1.19	—	1.18	0.95	1.08	1.05	1.08	0.91	0.8	2.38	0.19	2.14

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	9.7B	—	—	—	18B	20.4B	27.5B	24.1B	25.7B	25.9B	30.4B
Enterprise value	24.2B	—	—	—	34.4B	36.8B	42.9B	39.5B	40.6B	40.2B	41.8B
Shares outstanding	337.8M	484M	348.6M	522.2M	509.9M	484M	484M	484M	484M	484M	484M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	15.2	12.5	11	5.66	10.2	8.67	11.5
P/S	8.85	—	—	—	2.91	2.17	1.6	2.49	2.95	2.41	2.64
P/B	22	—	—	—	33.3	28.5	-12.9	-30.7	-50.5	62.5	8.23
EV/EBITDA	59.2	—	—	—	12.8	11.8	10.6	6.87	10.2	9.06	9.16
EV/Sales	22	—	—	—	5.58	3.91	2.49	4.09	4.66	3.73	3.63
Earnings yield	—	—	—	—	6.58%	7.97%	9.08%	17.7%	9.76%	11.5%	8.68%
FCF yield	-23.8%	—	—	—	4.33%	8.04%	13.4%	12%	10.9%	9.92%	7.27%
PEG	—	—	—	—	—	—	—	—	—	—	0.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	48.4%	38.2%	40.4%	42.8%	49.2%	37%	26%	64.7%	51.1%	45.8%	63.6%
Operating margin	22.7%	26.9%	30.9%	29.9%	34.5%	27.1%	19.6%	52.1%	37.7%	34.4%	51.9%
Net margin	-15.5%	11.4%	19.8%	17.2%	19.2%	17.3%	14.5%	44%	28.8%	27.8%	27.3%
ROE	-38.6%	76.7%	159.3%	164.3%	219.5%	227%	-117.2%	-542.6%	-493.1%	721.5%	1.5K%
ROA	-1.1%	2.79%	7.09%	6.06%	6.18%	8.42%	12.7%	23.5%	14.4%	17.1%	14%
Return on tangible assets	-1.1%	2.8%	7.1%	6.07%	6.18%	8.42%	12.7%	23.5%	14.4%	17.1%	17.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.12	2.58	2.21	2.8	2.42	1.64	1.08	1.01	0.77	0.78	1.22
Quick ratio	1.01	2.47	2.11	2.68	2.3	1.51	1.02	0.92	0.69	0.68	1.09
Debt / equity	32.6	25.1	20.1	24.7	32.8	24.1	-7.65	-20.4	-29.7	34.9	19.2
Debt / assets	0.93	0.91	0.89	0.91	0.92	0.89	0.83	0.88	0.87	0.83	0.82
Net debt / EBITDA	35.4	10.6	6.59	6.1	6.12	5.26	3.82	2.68	3.72	3.22	3.06
Interest coverage	0.52	1.8	2.74	2.33	2.3	2.96	3.87	6.17	4.14	4.97	5.25

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.26	8.89	18.4	13.1	12.1	19.5	35.5	20	18	22.2	23.8
EPS (basic)	-0.2	-1.32	2.51	2.25	2.32	3	3.27	6.95	4.25	5.17	5.17
EPS (diluted)	-0.2	-1.32	2.51	2.25	2.32	3	3.27	6.95	4.25	5.17	5.45
Book value per share	1.31	1.32	2.29	1.37	1.06	1.48	-4.4	-1.62	-1.05	0.86	7.63
FCF per share	-6.85	-0.65	3.07	0.41	1.53	3.39	7.64	5.97	5.81	5.31	5.76
Cash per share	0	0	0	3.41	2.37	1.81	1.87	1.19	0.56	0.38	0.92
Capex per share	6.85	2.67	2.31	2.55	1.91	1.34	0.93	0.45	0.32	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	210.5%	30%	12.5%	19.5%	15.8%	6.87%	2.62%	2.28%	1.77%	—	—
Capex / operating cash flow	-8.6K%	134.7%	44.1%	81.7%	59.4%	29.2%	15%	4.33%	4.56%	—	—
Payout ratio	-57.9%	60%	87.4%	107.2%	114.9%	89%	105.5%	68.3%	89%	69.1%	59.3%
Dividend yield	1.02%	—	—	—	7.56%	7.1%	9.57%	12.1%	8.69%	7.97%	5.28%

Yield

5.28%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.82

ex-dividend Aug 7, 2026

Payout ratio

59%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 7, 2026	$0.82
May 8, 2026	$0.79
Feb 9, 2026	$0.83

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	$2.4B	$2.9B	$3.6B	$2.6B
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	0	0	0	1.8B	1.2B	876M	904M	575M	270M	182M
Receivables	187M	348M	444M	388M	484M	779M	1.2B	642M	535M	711M
Inventory	97M	95M	99M	116M	107M	176M	160M	142M	151M	180M
Total current assets	958M	2.1B	2.4B	2.7B	2.1B	2.2B	2.6B	1.6B	1.3B	1.3B
Property, plant & equipment	14.2B	15.1B	15.4B	16.5B	16.8B	16.9B	16.8B	16.3B	15.8B	15.3B
Goodwill & intangibles	54M	48M	40M	12M	12M	—	—	—	—	—
Total assets	15.5B	17.6B	18B	19.4B	19.1B	19.4B	19.6B	18.1B	17.5B	17.4B
Accounts payable	27M	12M	15M	40M	12M	21M	32M	69M	62M	53M
Short-term debt	224M	—	—	6M	7M	8M	10M	300M	351M	306M
Total current liabilities	856M	829M	1.1B	966M	883M	1.3B	2.4B	1.6B	1.7B	1.7B
Long-term debt	14.2B	16B	16.1B	17.7B	17.7B	17.3B	16.3B	15.7B	14.8B	14.2B
Total liabilities	15.1B	16.9B	17.2B	18.7B	18.6B	18.6B	21.8B	18.9B	18B	17B
Shareholders' equity	443M	639M	800M	715M	539M	718M	-2.1B	-784M	-509M	414M
Total debt	14.4B	16B	16.1B	17.7B	17.7B	17.3B	16.3B	16B	15.1B	14.5B
Net debt	14.4B	16B	16.1B	15.9B	16.5B	16.4B	15.4B	15.4B	14.8B	14.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	499M	575M	333M	351M	331M	270M	94M	108M	121M	182M	279M	443M
Receivables	442M	642M	395M	420M	432M	535M	658M	393M	539M	711M	563M	617M
Inventory	131M	142M	134M	144M	135M	151M	164M	153M	147M	180M	151M	165M
Total current assets	1.4B	1.6B	1.1B	1.2B	1.2B	1.3B	1.2B	1B	1.1B	1.3B	1.3B	1.5B
Property, plant & equipment	16.4B	16.3B	16.1B	16.1B	15.9B	15.8B	15.7B	15.6B	15.5B	15.3B	15.2B	15.1B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	18.1B	18.1B	17.5B	17.5B	17.4B	17.5B	17.1B	16.9B	16.8B	17.4B	17.1B	17.7B
Accounts payable	50M	69M	34M	51M	51M	62M	68M	71M	58M	53M	52M	82M
Short-term debt	360M	300M	2.1B	798M	700M	351M	104M	609M	605M	306M	1.6B	109M
Total current liabilities	1.5B	1.6B	2.9B	1.9B	1.7B	1.7B	1.3B	1.7B	1.7B	1.7B	3B	1.2B
Long-term debt	15.7B	15.7B	13.7B	15B	14.9B	14.8B	14.7B	14.2B	14.2B	14.2B	12.6B	14.3B
Total liabilities	19B	18.9B	18.3B	18.3B	18B	18B	17.5B	17.3B	17.2B	17B	17B	16.9B
Shareholders' equity	-973M	-784M	-822M	-756M	-626M	-509M	-380M	-340M	-348M	414M	78M	754M
Total debt	16B	16B	15.8B	15.7B	15.6B	15.1B	14.8B	14.8B	14.8B	14.5B	14.2B	14.4B
Net debt	15.6B	15.4B	15.5B	15.4B	15.3B	14.8B	14.7B	14.7B	14.6B	14.3B	13.9B	14B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-171M	490M	1.3B	1.2B	1.2B	1.6B	2.5B	4.3B	2.5B	3B
Depreciation & amortization	156M	339M	424M	527M	551M	557M	634M	672M	680M	688M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-43M	87M	92M	-116M	-141M	-4M	-105M	113M	117M	-150M
Operating cash flow	-27M	958M	1.8B	1.6B	1.6B	2.2B	3B	5.1B	3.4B	2.8B
Capital expenditure	-2.3B	-1.3B	-804M	-1.3B	-972M	-648M	-451M	-220M	-154M	—
Investing cash flow	-2.4B	-1.3B	-804M	-1.3B	-972M	-648M	-451M	-227M	-162M	-5M
Dividends paid	-99M	-294M	-1.1B	-1.3B	-1.4B	-1.5B	-2.6B	-2.9B	-2.2B	-2.1B
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	2.5B	1.3B	-1.1B	206M	-1.4B	-2B	-3.7B	-3.2B	-3.1B	-2.7B
Net change in cash	144M	965M	-97M	503M	-769M	-402M	-1.1B	1.6B	158M	21M
Free cash flow	-2.3B	-313M	1.1B	216M	779M	1.6B	3.7B	2.9B	2.8B	2.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	506M	1.3B	186M	1.2B
Depreciation & amortization	—	—	—	—	—	—	—	—	173M	173M	174M	174M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	77M	195M	-343M	197M	-113M	265M	37M	-211M	-120M	70M	-87M	-109M
Operating cash flow	77M	195M	-343M	197M	-113M	265M	37M	-211M	658M	887M	910M	699M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	-1M	-1M	-2M	0
Dividends paid	—	—	—	—	—	—	—	—	-514M	-525M	-522M	-485M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	—	—	—	—	—	—	—	—	-589M	-826M	-777M	-268M
Net change in cash	77M	195M	-343M	197M	-113M	265M	37M	-211M	68M	60M	131M	431M
Free cash flow	—	—	—	—	—	—	—	—	610M	864M	879M	433M

Cheniere Energy Partners, L.P. Common Units Representing Limited Partner Interests Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement