Expand Energy is a North American natural gas producer in the Haynesville and Appalachian basins, formed by the combination of Chesapeake and Southwestern. Its largest operation by volume is the Haynesville basin in Louisiana, which is heavily exposed to nearby LNG production.
It is a $20.4B energy company. Revenue grew 56.2% over the last year, it keeps 20¢ of every dollar of sales as profit, and its net debt equals ~1.6 years of free cash flow. It trades at 7.3× earnings — in the cheapest third of its own history.
- Website
- expandenergy.com
- Location
- Spring, TX
- Employees
- 1 600
- Sector
- Energy
- Founded
- 1989
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation; Growth lags behind.
Valuation95
- P/E vs own history22th pct · 20/25
- FCF yield13.1% · 25/25
- P/S1.5x · 25/25
- EV/EBITDA3.5x · 25/25
Growth20
- Revenue CAGR13.5% · 20/25
- Net income CAGR-26.8% · 0/25
- EPS CAGR ~5Y-40.5% · 0/25
- Fwd implied growth-27.7% · 0/25
Profitability67
- ROIC7.9% · 5/25
- ROE14.7% · 12/25
- Net margin20.5% · 25/25
- Operating margin27.1% · 25/25
Health61
- Altman Z2.27 · 18/25
- Current ratio0.96 · 6/25
- Interest coverage10.7x · 25/25
- Net cash / debtD/A 16% · 12/25
Quality59
- Piotroski F8/9 · 25/25
- Beneish M-1.83 · 12/25
- FCF conversion96% · 22/25
- Margin stabilityσ 25.7% · 0/25
Moat56
- ROIC >12% years2/5 yrs · 6/25
- Median gross margin57.6% · 25/25
- FCF-positive years5/5 yrs · 25/25
- Worst-year net marginworst -16.9% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionThe company acquired Twin Eagle Holdings for $1.25 billion
- Q2 2026Insiders4 open-market insider purchases~6K shares bought by insiders
- 2024AcquisitionThe company acquired Southwestern Energy in a $7.4 billion all-stock deal and was rebranded as…
- 2024MilestoneExpand Energy Corporation (known as Chesapeake Energy until 2024) is the largest independent natural gas producer in…
- FY2022FinancialRevenue crossed $10B$14.1B for the year
- 2022AcquisitionThe company acquired Chief Oil & Gas for approximately $2.6 billion
- FY2021FinancialFirst recorded profitable year$6.33B net income
- FY2021FinancialRevenue already above $1B$7.30B in first reported year
- FY2021FinancialPositive free cash flow every year since5-year streak
- FY2021FinancialBest year on record$6.33B net income
- 2021MilestoneIt emerged from bankruptcy protection in February 2021
- 2021AcquisitionThe company acquired Vine Energy, which operated in the Haynesville Shale
- 2019AcquisitionThe company acquired Texas oil producer WildHorse Resource Development for $4 billion in cash and…
- 2014MilestoneThe state of Michigan filed felony fraud and racketeering charges against the company, alleging that…
- 1993IPOThe company became a public company via an initial public offering
- 1989FoundedThe company was founded in 1989 as Chesapeake Energy by Aubrey McClendon and Tom L
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (74.5%)
- Strongly profitable — 20.5% net margin
- Revenue growing 56.2% year over year
- Strong cash conversion — FCF is 19.7% of revenue
- Could repay net debt from ~1.1 years of free cash flow
Watch-outs
- Loss-making in 1 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+56.2% YoY
- Profitable — makes more than it spends$2.78B TTM
- Profit growing — earnings are higher than last year-39.3% YoY
- Generates cash — cash left after running and investing$2.68B TTM
- Debt under control — could handle its obligations~1.6y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$20.4B market cap
- Not printing shares — share count not ballooning — you keep your slice+129.6% shares over ~5y
- Proven track record — years of profitability behind it4/5 profitable years
- Financially stable — balance sheet not near distressAltman Z 2.3 — grey
- Pays a dividend — returns cash to shareholdersyield 3.75%
- Valuation not extreme — price not wildly above earningsP/E 7.3
Peer comparisonExpand Energy Corporation vs 6 largest energy peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| EXE this company | $20.4B | 7.3 | +56.2% | 20.5% | Solid |
| XOM ExxonMobil Holdings Corporation | $694.0B | 21.1 | +9.1% | 8.9% | Mixed |
| CVX Chevron Corporation | $416.8B | 20.3 | +10.2% | 9.6% | Mixed |
| SHEL Shell plc | $284.6B | 11.0 | -6.1% | 6.7% | Solid |
| TTE TotalEnergies SE | $191.1B | 10.9 | -6.8% | 7.2% | Solid |
| COP ConocoPhillips | $161.5B | 17.4 | +9.6% | 14.7% | Strained |
| MPC Marathon Petroleum Corporation | $127.8B | 14.9 | +15.0% | 5.6% | Strained |
Head-to-head: EXE vs XOM · EXE vs CVX · EXE vs SHEL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/EXE
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of EXE on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $88.15 · market cap $20.4B.