E

EXPAND ENERGY CORPORATION

EXE · CIK 0000895126

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$12.12B186.3%
FY2025
Net income (FY)
$1.82B354.8%
FY2025
Free cash flow (FY)
$1.84B22,887.5%
FY2025
Diluted EPS (FY)
$7.57266.4%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$20BFY2007 · Revenue $7.80B · Net income $1.46B · 0001193125-10-044784 · filed 2010-03-01FY07Revenue $7.80BNet income $1.46B0001193125-10-044784 · filed 2010-03-01FY2008 · Revenue $11.63B · Net income $604.0M · 0001193125-11-052349 · filed 2011-03-01FY08Revenue $11.63BNet income $604.0M0001193125-11-052349 · filed 2011-03-01FY2009 · Revenue $7.70B · Net income −$5.83B · 0001193125-12-089591 · filed 2012-02-29FY09Revenue $7.70BNet income −$5.83B0001193125-12-089591 · filed 2012-02-29FY2010 · Revenue $9.37B · Net income $1.77B · 0000895126-13-000076 · filed 2013-03-01FY10Revenue $9.37BNet income $1.77B0000895126-13-000076 · filed 2013-03-01FY2011 · Revenue $11.63B · Net income $1.74B · 0000895126-14-000104 · filed 2014-02-27FY11Revenue $11.63BNet income $1.74B0000895126-14-000104 · filed 2014-02-27FY2012 · Revenue $12.32B · Net income −$769.0M · 0000895126-15-000076 · filed 2015-02-27FY12Revenue $12.32BNet income −$769.0M0000895126-15-000076 · filed 2015-02-27FY2013 · Revenue $19.08B · Net income $724.0M · 0000895126-16-000395 · filed 2016-02-25FY13Revenue $19.08BNet income $724.0M0000895126-16-000395 · filed 2016-02-25FY2014 · Revenue $23.13B · Net income $1.92B · 0000895126-17-000068 · filed 2017-03-03FY14Revenue $23.13BNet income $1.92B0000895126-17-000068 · filed 2017-03-03FY2015 · Revenue $12.76B · Net income −$14.57B · 0000895126-18-000060 · filed 2018-02-22FY15Revenue $12.76BNet income −$14.57B0000895126-18-000060 · filed 2018-02-22FY2016 · Revenue $7.87B · Net income −$4.39B · 0000895126-19-000070 · filed 2019-02-27FY16Revenue $7.87BNet income −$4.39B0000895126-19-000070 · filed 2019-02-27FY2017 · Revenue $10.04B · Net income −$505.0M · 0000895126-20-000061 · filed 2020-02-27FY17Revenue $10.04BNet income −$505.0M0000895126-20-000061 · filed 2020-02-27FY2018 · Revenue $10.03B · Net income $226.0M · 0000895126-21-000078 · filed 2021-03-01FY18Revenue $10.03BNet income $226.0M0000895126-21-000078 · filed 2021-03-01FY2019 · Revenue $8.53B · Net income −$308.0M · 0000895126-22-000029 · filed 2022-02-24FY19Revenue $8.53BNet income −$308.0M0000895126-22-000029 · filed 2022-02-24FY2020 · Revenue $5.24B · Net income −$9.73B · 0000895126-23-000022 · filed 2023-02-22FY20Revenue $5.24BNet income −$9.73B0000895126-23-000022 · filed 2023-02-22FY2022 · Revenue $11.74B · Net income $4.94B · 0000895126-25-000021 · filed 2025-02-26FY22Revenue $11.74BNet income $4.94B0000895126-25-000021 · filed 2025-02-26FY2023 · Revenue $8.72B · Net income $2.42B · 0000895126-26-000011 · filed 2026-02-18FY23Revenue $8.72BNet income $2.42B0000895126-26-000011 · filed 2026-02-18FY2024 · Revenue $4.24B · Net income −$714.0M · 0000895126-26-000011 · filed 2026-02-18FY24Revenue $4.24BNet income −$714.0M0000895126-26-000011 · filed 2026-02-18FY2025 · Revenue $12.12B · Net income $1.82B · 0000895126-26-000011 · filed 2026-02-18FY25Revenue $12.12BNet income $1.82B0000895126-26-000011 · filed 2026-02-18FY25Revenue $12.12BNet income $1.82B0000895126-26-000011 · filed 2026-02-18FY08FY10FY12FY14FY16FY18FY20FY23FY25

revenue 1.6× since FY2007 · net margin 18.7% → 15.0%

MarginsNet marginFCF margin
-100%0%FY2007 · Net margin 18.7%FY07Net margin 18.7%derived: net income ÷ revenueFY2008 · Net margin 5.2% · FCF margin -36.9%FY08Net margin 5.2%FCF margin -36.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin -75.7% · FCF margin -22.6%FY09Net margin -75.7%FCF margin -22.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 18.9% · FCF margin -19.3%FY10Net margin 18.9%FCF margin -19.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 15.0% · FCF margin -3.7%FY11Net margin 15.0%FCF margin -3.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin -6.2% · FCF margin -91.5%FY12Net margin -6.2%FCF margin -91.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 3.8% · FCF margin -13.5%FY13Net margin 3.8%FCF margin -13.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 8.3% · FCF margin -8.8%FY14Net margin 8.3%FCF margin -8.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin -114.1% · FCF margin -18.6%FY15Net margin -114.1%FCF margin -18.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin -55.8% · FCF margin -21.0%FY16Net margin -55.8%FCF margin -21.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin -5.0%FY17Net margin -5.0%derived: net income ÷ revenueFY2018 · Net margin 2.3%FY18Net margin 2.3%derived: net income ÷ revenueFY2019 · Net margin -3.6%FY19Net margin -3.6%derived: net income ÷ revenueFY2020 · Net margin -185.8% · FCF margin 0.4%FY20Net margin -185.8%FCF margin 0.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 42.0% · FCF margin 19.6%FY22Net margin 42.0%FCF margin 19.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 27.7% · FCF margin 6.3%FY23Net margin 27.7%FCF margin 6.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin -16.9% · FCF margin 0.2%FY24Net margin -16.9%FCF margin 0.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 15.0% · FCF margin 15.2%FY25Net margin 15.0%FCF margin 15.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 15.0%FCF margin 15.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’08’12’16’20’25

FY2025: net 15.0% · free cash flow 15.2% of revenue

Cash engineOperating cash flowFree cash flow
−$10B−$5B$0$5BFY2007 · OCF $4.97B · 0001193125-10-044784 · filed 2010-03-01FY07OCF $4.97B0001193125-10-044784 · filed 2010-03-01FY2008 · OCF $5.36B · FCF −$4.29B · 0001193125-11-052349 · filed 2011-03-01FY08OCF $5.36BFCF −$4.29B0001193125-11-052349 · filed 2011-03-01FY2009 · OCF $4.36B · FCF −$1.74B · 0001193125-12-089591 · filed 2012-02-29FY09OCF $4.36BFCF −$1.74B0001193125-12-089591 · filed 2012-02-29FY2010 · OCF $5.12B · FCF −$1.81B · 0000895126-13-000076 · filed 2013-03-01FY10OCF $5.12BFCF −$1.81B0000895126-13-000076 · filed 2013-03-01FY2011 · OCF $5.90B · FCF −$434.0M · 0000895126-14-000104 · filed 2014-02-27FY11OCF $5.90BFCF −$434.0M0000895126-14-000104 · filed 2014-02-27FY2012 · OCF $2.84B · FCF −$11.27B · 0000895126-15-000076 · filed 2015-02-27FY12OCF $2.84BFCF −$11.27B0000895126-15-000076 · filed 2015-02-27FY2013 · OCF $4.61B · FCF −$2.58B · 0000895126-16-000395 · filed 2016-02-25FY13OCF $4.61BFCF −$2.58B0000895126-16-000395 · filed 2016-02-25FY2014 · OCF $4.63B · FCF −$2.03B · 0000895126-17-000068 · filed 2017-03-03FY14OCF $4.63BFCF −$2.03B0000895126-17-000068 · filed 2017-03-03FY2015 · OCF $1.23B · FCF −$2.38B · 0000895126-18-000060 · filed 2018-02-22FY15OCF $1.23BFCF −$2.38B0000895126-18-000060 · filed 2018-02-22FY2016 · OCF −$204.0M · FCF −$1.65B · 0000895126-19-000070 · filed 2019-02-27FY16OCF −$204.0MFCF −$1.65B0000895126-19-000070 · filed 2019-02-27FY2017 · OCF $475.0M · 0000895126-20-000061 · filed 2020-02-27FY17OCF $475.0M0000895126-20-000061 · filed 2020-02-27FY2018 · OCF $1.73B · 0000895126-21-000078 · filed 2021-03-01FY18OCF $1.73B0000895126-21-000078 · filed 2021-03-01FY2019 · OCF $1.62B · 0000895126-22-000029 · filed 2022-02-24FY19OCF $1.62B0000895126-22-000029 · filed 2022-02-24FY2020 · OCF $1.16B · FCF $22.0M · 0000895126-23-000022 · filed 2023-02-22FY20OCF $1.16BFCF $22.0M0000895126-23-000022 · filed 2023-02-22FY2022 · OCF $4.13B · FCF $2.30B · 0000895126-25-000021 · filed 2025-02-26FY22OCF $4.13BFCF $2.30B0000895126-25-000021 · filed 2025-02-26FY2023 · OCF $2.38B · FCF $551.0M · 0000895126-26-000011 · filed 2026-02-18FY23OCF $2.38BFCF $551.0M0000895126-26-000011 · filed 2026-02-18FY2024 · OCF $1.56B · FCF $8.0M · 0000895126-26-000011 · filed 2026-02-18FY24OCF $1.56BFCF $8.0M0000895126-26-000011 · filed 2026-02-18FY2025 · OCF $4.58B · FCF $1.84B · 0000895126-26-000011 · filed 2026-02-18FY25OCF $4.58BFCF $1.84B0000895126-26-000011 · filed 2026-02-18FY25OCF $4.58BFCF $1.84B0000895126-26-000011 · filed 2026-02-18’08’12’16’20’25

FY2025: $4.58B operating cash − $2.74B capex = $1.84B free cash flow

Returns on capitalReturn on equityReturn on assets
-500%0%FY2008 · ROE 3.5% · ROA 1.6%FY08ROE 3.5%ROA 1.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE -50.9% · ROA -19.5%FY09ROE -50.9%ROA -19.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 11.6% · ROA 4.8%FY10ROE 11.6%ROA 4.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 10.5% · ROA 4.2%FY11ROE 10.5%ROA 4.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE -4.9% · ROA -1.8%FY12ROE -4.9%ROA -1.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 4.5% · ROA 1.7%FY13ROE 4.5%ROA 1.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 11.3% · ROA 4.7%FY14ROE 11.3%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE -681.3% · ROA -84.1%FY15ROE -681.3%ROA -84.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 329.8% · ROA -33.7%FY16ROE 329.8%ROA -33.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 101.8% · ROA -4.1%FY17ROE 101.8%ROA -4.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 10.8% · ROA 1.8%FY18ROE 10.8%ROA 1.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE -7.1% · ROA -1.9%FY19ROE -7.1%ROA -1.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 182.3% · ROA -147.8%FY20ROE 182.3%ROA -147.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 54.1% · ROA 31.9%FY22ROE 54.1%ROA 31.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 22.5% · ROA 16.8%FY23ROE 22.5%ROA 16.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE -4.1% · ROA -2.6%FY24ROE -4.1%ROA -2.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 9.8% · ROA 6.4%FY25ROE 9.8%ROA 6.4%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 9.8%ROA 6.4%derived: net income ÷ equity · derived: net income ÷ assets’08’12’16’20’25

return on equity 4% (FY2008) → 10% (FY2025) · on assets 6.4%

Balance sheetLiabilitiesEquity
$0$10B$20B$30BFY2019 · Liabilities $11.79B · Equity $4.36BFY19Liabilities $11.79BEquity $4.36B0000895126-21-000078 · filed 2021-03-01FY2020 · Liabilities $11.93B · Equity −$5.34BFY20Liabilities $11.93BEquity −$5.34B0000895126-22-000029 · filed 2022-02-24FY2021 · Liabilities $5.34B · Equity $5.67BFY21Liabilities $5.34BEquity $5.67B0000895126-23-000022 · filed 2023-02-22FY2022 · Liabilities $6.34B · Equity $9.12BFY22Liabilities $6.34BEquity $9.12B0000895126-24-000013 · filed 2024-02-21FY2023 · Liabilities $3.65B · Equity $10.73BFY23Liabilities $3.65BEquity $10.73B0000895126-25-000021 · filed 2025-02-26FY2024 · Liabilities $10.33B · Equity $17.57BFY24Liabilities $10.33BEquity $17.57B0000895126-26-000011 · filed 2026-02-18FY2025 · Liabilities $9.71B · Equity $18.58BFY25Liabilities $9.71BEquity $18.58B0000895126-26-000011 · filed 2026-02-18FY25Liabilities $9.71BEquity $18.58B0000895126-26-000011 · filed 2026-02-18’19’21’23’25

FY2025: $28.29B assets · $9.71B liabilities · $18.58B equity

The receipts