EQT Corp (EQT)
Fair ValueFundamental
76
Price
$49.52
Market Cap
$31.19B
Part 1 · What the company is worth
Overview
EQT Corporation engages in the exploration, production, gathering, and transmission of hydrocarbons and natural gas. The company sells natural gas, natural gas liquids, and oil to marketers, utilities, and industrial customers located in the Appalachian Basin. It also provides marketing services and contractual pipeline capacity management services, as well as engages in risk management and hedging activities. In addition, it owns and operates propane storage and distribution terminals. The company was formerly known as Equitable Resources Inc. and changed its name to EQT Corporation in February 2009. EQT Corporation was founded in 1888 and is headquartered in Canonsburg, Pennsylvania.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users
Expand Energy, formed by the Chesapeake–Southwestern merger, is the other giant of American dry-gas production and sells into the same Appalachian and Gulf Coast LNG markets EQT supplies.
Antero drills the same Marcellus acreage in West Virginia and Pennsylvania and competes with EQT for drilling rights, pipeline capacity and the same gas buyers.
Range is a pure-play Marcellus producer in south-west Pennsylvania, EQT's home ground, selling natural gas and liquids to the same regional and export customers.
Also headquartered in Pittsburgh, CNX produces Marcellus and Utica gas across Pennsylvania, Ohio and West Virginia and bids against EQT for the same acreage and local gas contracts.
Ascent is one of the largest privately held producers in the Utica shale of Ohio, competing with EQT for Appalachian drilling inventory and pipeline takeaway even though its shares are not listed.
Balance Sheet & Liquidity
Revenue
$9.54B
Trailing 12 months (through 6/30/2026)
Net Income
$2.71B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$2.84B
Total Equity
$23.75B
Total Liabilities
$14.43B
Current Ratio
0.67
Interest Coverage
10.44
Debt/EBITDA
0.97
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$62.79
Current Price
$49.52
Margin of Safety
+21.1%
Fair Value Range
$57.97 - $67.60
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
11.27
ROE
8.6%
P/B Ratio
1.20
P/FCF
8.08
Gross Margin
83.7%
ROIC
8.1%
Profitability Radar
Value Creation (Economic Moat)
ROIC
8.1%
WACC
8.0%
ROIC − WACC
+0.1 pp
ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.
Fundamental Analysis Criteria
Passed (20)
- EPS shows upward trend
- ROIC 8.1%
- Gross Margin 83.7%
- P/FCF 8.08
- P/B Ratio 1.20
- Debt/Equity ratio
- Operating Margin 42.5%
- Positive Free Cash Flow
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- ROE 11.2%
- Revenue Growth 5Y 25.7%
- Analyst Consensus 80% Buy
- Earnings Surprise avg 11.8%
- Earnings Quality (OCF/NI) 2.30
- Net Margin Trend 28.4% vs 15.5%
- Piotroski F-Score 8/9
Failed (6)
- EPS CAGR 2.56%
- Price CAGR 4.27%
- CapEx intensity
- Current Ratio
- DCF valuation (Overvalued)
- Share Dilution 20.2%
Unavailable (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Issuing new shares, diluting ownership
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Toby Z. Rice | President, CEO & Director | 43 |
| Mr. Jeremy T. Knop | Chief Financial Officer | 36 |
| Mr. J. E.B. Bolen | Executive Vice President of Operations | 46 |
| Mr. William E. Jordan | Chief Legal, Policy Officer & Corporate Secretary | 45 |
| Ms. Sarah Fenton | Executive Vice President of Upstream | 46 |
| Mr. Todd M. James | Chief Accounting Officer | 42 |
| Mr. Richard Anthony Duran | Chief Information & Technology Officer | 46 |
| Mr. Cameron Jeffrey Horwitz C.F.A. | Managing Director of Investor Relations & Strategy | - |
| Ms. Lesley Evancho | Chief Human Resources Officer | 47 |
| Ms. Amy Rogers | Head of Strategic Communications | - |
Audit Risk
9
Board Risk
8
Compensation Risk
1
Shareholder Rights Risk
5
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-18
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-07-22
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-07-21
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for EQT, sourced from Markets Gazette.
- 7/3/2026POSITIVECPP Invests $1.75 Billion in EQT’s AI Infrastructure Buildout
Canada Pension Plan Investment Board (CPP) has committed $1.75 billion to EQT Corporation to fund its artificial intelligence infrastructure buildout. This substantial investment highlights strong confidence in EQT's strategic direction and its potential to capitalize on the growing AI market. The capital infusion is expected to accelerate EQT's development of critical AI-focused infrastructure, potentially leading to enhanced operational efficiencies and new revenue streams. Investors will be watching EQT's progress in deploying these funds and its subsequent impact on market position and profitability.
- 4/22/2026NEUTRALEQT Reports Q1 2026 Results: Full Earnings Call Transcript
EQT Corporation released its Q1 2026 earnings call transcript on April 22, 2026. The document provides a detailed account of the company's financial performance, strategic initiatives, and outlook for the upcoming quarters. Investors and analysts can review the transcript for in-depth insights into EQT's operational efficiency, capital allocation strategies, and market positioning within the natural gas sector. While the transcript itself is informational, it does not contain new financial figures or forward-looking statements that would directly impact the stock price at the time of its release.
- 3/23/2026NEUTRALEQT CEO Toby Rice on Energy Prices, LNG and Data Centers at CERAWeek
EQT Corporation CEO Toby Rice participated in discussions at CERAWeek in Houston, addressing key topics including energy prices, the future of Liquefied Natural Gas (LNG), and the increasing energy consumption of data centers. The conversation, moderated by Bloomberg's Julie Fine, provided insights into the strategic considerations and market dynamics influencing the energy sector. While no specific financial figures or forward-looking guidance were released, the dialogue highlighted EQT's engagement with critical industry trends and their potential impact on future energy demand and supply.
- 3/1/2026POSITIVEJapan Pledges to Invest $36 Billion in U.S. Oil, Gas, and Mineral Projects. Here Are 2 Stocks That Could Soar as a Result.
Japan has pledged a substantial $36 billion investment in U.S. oil, gas, and mineral projects. This strategic move aims to bolster Japan's energy security and critical resource supply while simultaneously creating significant opportunities for American companies. Among the potential beneficiaries of this massive capital injection, EQT Corporation, the largest natural gas producer in the United States, has been highlighted as one of the companies poised to gain significantly. The Japanese investment could translate into increased demand for EQT's resources and services, potentially driving its stock value higher. Investors should closely monitor the development of these projects and their impact on the financials of the involved companies.
- 2/26/2026POSITIVEIf You Invested $100 In EQT Stock 5 Years Ago, You Would Have This Much Today
A retrospective analysis of EQT Corporation's stock performance over the past five years suggests a significant appreciation for long-term investors. While specific return figures were not disclosed, the article's tone indicates that an initial $100 investment would have yielded substantial gains. This highlights the company's resilience and growth potential within the energy sector, particularly in natural gas. For investors, this underscores the importance of a long-term perspective and the potential rewards from selecting companies with strong fundamentals and a strategic market position. EQT's past performance could attract new capital, further solidifying its standing among leading natural gas producers in the United States.
via Markets Gazette