EQT Corporation

EQT

Oil & Gas Exploration & Production · Energy

Price

$49.56

+0.16 (+0.32%)

Market Cap

$31.00B

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

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)

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.

Winston Score History

Politician Trades

16 trades / 12mo

11 Congressional buys and 5 sells on EQT in the last 12 months.

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Growth Profile

For growth stock investors

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

Revenue Growth

+39.7% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+522.5% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.9%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$327M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Strong grower

EQT Corporation is growing revenue at 40% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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

Gross Margin

98.4%

Premium pricing power — 98.4% gross margin

Operating Margin

60.3%

Excellent — 60.3% operating margin

ROCE

6.6%

Weak — 6.6% 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 YoY

+58.4%

Fast-growing sales (58.4% YoY)

EPS YoY

+832.1%

Earnings growing fast (832.1% YoY)

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

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

192%

Turns 192% of profit into real cash

FCF Margin

40.5%

Converts sales into free cash efficiently (40.5%)

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

Debt / Equity

0.23

Conservative — low debt load (0.23)

Interest Cover

11.22x

Comfortably covers interest (11.2x)

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

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Valuation

P/E Ratio (TTM)

9.1x

Attractive valuation — P/E 9.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

-0.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

1.24%

Small dividend — 1.24% yield

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

Dividend Growth

+3.6%

Dividend growing modestly (3.6% YoY)

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