Financials Expand Energy Corporation

Equities

EXE

US1651677353

Oil & Gas Exploration and Production

Real-time Estimate Cboe BZX Other stock markets 15:12:05 2025-06-13 EDT			5-day change	1st Jan Change
116.32 ^USD	+1.18%		-1.08%	+16.61%

06:16am	KeyBanc Capital Adjusts Price Target on Expand Energy to $135 From $130	MT
05-28	Piper Sandler Adjusts Price Target on Expand Energy to $139 From $136, Maintains Overweight Rating	MT

Projected Income Statement: Expand Energy Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,341	4,799	9,892	3,547	2,969	9,346	10,500	10,716
Change	-	43.64%	106.13%	-64.14%	-16.3%	214.8%	12.34%	2.06%
EBITDA ¹	452	2,145	4,470	2,513	2,195	5,606	6,611	6,184
Change	-	374.56%	108.39%	-43.78%	-12.65%	155.39%	17.94%	-6.46%
EBIT ¹	-8,703	1,145	2,694	959	456	2,371	3,295	2,916
Change	-	113.16%	135.28%	-64.4%	-52.45%	419.96%	38.98%	-11.5%
Interest Paid ¹	-331	-84	-160	-104	-123	-251.5	-245.6	-239.6
Earnings before Tax (EBT) ¹	-9,769	6,222	3,651	3,117	-841	1,469	3,214	2,993
Change	-	163.69%	-41.32%	-14.63%	-126.98%	274.67%	118.81%	-6.87%
Net income ¹	-9,756	6,328	4,869	2,419	-714	1,156	2,405	2,003
Change	-	164.86%	-23.06%	-50.32%	-129.52%	261.91%	108.01%	-16.72%
Announcement Date	3/1/21	2/23/22	2/21/23	2/20/24	2/26/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	267	762	951	892	1,170	1,786	1,914	2,790	2,987	2,201	1,453	649	682	763	589	378	407	1,595	2,300	2,086	2,233	2,604	2,768	2,278	2,385	2,716	2,800
Change	-	185.39%	24.8%	-6.2%	31.17%	52.65%	7.17%	45.77%	7.06%	-26.31%	-33.98%	-55.33%	5.08%	11.88%	-22.8%	-35.82%	7.67%	291.89%	44.2%	-9.32%	7.06%	16.63%	6.28%	-17.69%	4.68%	13.9%	3.11%
EBITDA ¹	-227	251	510	429	519	687	913	1,269	1,256	1,032	774	524	580	635	508	358	365	964	964	1,253	1,337	1,652	1,802	1,417	1,498	1,750	1,569
Change	-	210.57%	103.19%	-15.88%	20.98%	32.37%	32.9%	38.99%	-1.02%	-17.83%	-25%	-32.3%	10.69%	9.48%	-20%	-29.53%	1.96%	164.11%	0%	29.93%	6.75%	23.57%	9.08%	-21.38%	5.73%	16.83%	-10.34%
EBIT ¹	-372	176	313	199	289	344	499	811	814	570	377	140	194	248	107	7	28	314	677	514.1	576	929.5	1,001	647.9	751.5	971.6	801.5
Change	-	147.31%	77.84%	-36.42%	45.23%	19.03%	45.06%	62.53%	0.37%	-29.98%	-33.86%	-62.86%	38.57%	27.84%	-56.85%	-93.46%	300%	1,021.43%	115.61%	-24.06%	12.04%	61.36%	7.73%	-35.3%	15.99%	29.28%	-17.5%
Charge d'intérêts ¹	-137	-24	-23	-18	-17	-26	-32	-36	-52	-40	-37	-22	-23	-22	-19	-20	-20	-64	-59	-63.61	-63.25	-62.74	-62.01	-61.86	-61.7	-61.43	-66
Earnings before Tax (EBT) ¹	-276	-422	-	-439	-355	1,395	-810	1,314	957	2,190	1,793	518	71	735	33	-295	-158	-421	-319	413.7	471.7	787.7	956.1	557.8	594.1	820.2	739.8
Change	-	-52.9%	-	-	19.13%	492.96%	-158.06%	262.22%	-27.17%	128.84%	-18.13%	-71.11%	-86.29%	935.21%	-95.51%	-993.94%	46.44%	-166.46%	24.23%	229.68%	14.02%	67%	21.38%	-41.66%	6.51%	38.04%	-9.79%
Net income ¹	-276	-416	5,678	-439	-345	1,400	-764	1,237	883	3,513	1,389	391	70	569	26	-227	-114	-399	-249	325.2	378.6	632.1	748.9	435.7	502.6	689.3	619.1
Change	-	-50.72%	1,464.9%	-107.73%	21.41%	505.8%	-154.57%	261.91%	-28.62%	297.85%	-60.46%	-71.85%	-82.1%	712.86%	-95.43%	-973.08%	49.78%	-250%	37.59%	230.59%	16.41%	66.99%	18.47%	-41.82%	15.34%	37.16%	-10.19%
Announcement Date	8/10/20	3/1/21	5/11/21	8/10/21	11/2/21	2/23/22	5/4/22	8/2/22	11/1/22	2/21/23	5/2/23	8/1/23	10/31/23	2/20/24	4/30/24	7/29/24	10/29/24	2/26/25	4/29/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Expand Energy Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	1,364	2,963	949	5,363	4,192	3,415	2,824
Change	-	-	117.23%	-67.97%	465.12%	-21.83%	-18.54%	-17.31%
Announcement Date	3/1/21	2/23/22	2/21/23	2/20/24	2/26/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Expand Energy Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,111	735	1,823	1,829	1,557	2,975	3,018	3,042
Change	-	-33.84%	148.03%	0.33%	-14.87%	91.06%	1.44%	0.8%
Free Cash Flow (FCF) ¹	-862	239	2,425	276	323	2,066	2,722	2,292
Change	-	127.73%	914.64%	-88.62%	17.03%	539.5%	31.79%	-15.79%
Announcement Date	3/1/21	2/23/22	2/21/23	2/20/24	2/26/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Expand Energy Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	13.53%	44.7%	45.19%	70.85%	73.93%	59.98%	62.97%	57.71%
EBIT Margin (%)	-260.49%	23.86%	27.23%	27.04%	15.36%	25.37%	31.39%	27.22%
EBT Margin (%)	-292.4%	129.65%	36.91%	87.88%	-28.33%	15.72%	30.61%	27.93%
Net margin (%)	-292.01%	131.86%	49.22%	68.2%	-24.05%	12.37%	22.9%	18.69%
FCF margin (%)	-25.8%	4.98%	24.51%	7.78%	10.88%	22.1%	25.93%	21.39%
FCF / Net Income (%)	8.84%	3.78%	49.8%	11.41%	-45.24%	178.67%	113.21%	114.46%
Profitability
ROA	-	11.91%	36.78%	4.7%	1.11%	5%	8.43%	7.04%
ROE	-	-	33.97%	7.07%	1.65%	9.64%	13.89%	13.03%
Financial Health
Leverage (Debt/EBITDA)	-	0.64x	0.66x	0.38x	2.44x	0.75x	0.52x	0.46x
Debt / Free cash flow	-	5.71x	1.22x	3.44x	16.6x	2.03x	1.25x	1.23x
Capital Intensity
CAPEX / Current Assets (%)	33.25%	15.32%	18.43%	51.56%	52.44%	31.83%	28.74%	28.38%
CAPEX / EBITDA (%)	245.8%	34.27%	40.78%	72.78%	70.93%	53.07%	45.64%	49.18%
CAPEX / FCF (%)	-128.89%	307.53%	75.18%	662.68%	482.04%	144.02%	110.85%	132.69%
Items per share
Cash flow per share ¹	-	9.3	29.1	14.72	11.98	21.37	25.61	23.05
Change	-	-	212.93%	-49.41%	-18.66%	78.47%	19.82%	-10%
Dividend per Share ¹	-	1.125	-	3.62	2.44	2.327	2.35	2.46
Change	-	-	-	-	-32.6%	-4.65%	0.99%	4.69%
Book Value Per Share ¹	-	48.09	77.38	82.03	75.79	73.86	77.38	81.42
Change	-	-	60.89%	6.02%	-7.61%	-2.54%	4.77%	5.23%
EPS ¹	-998.3	56.13	33.36	16.92	-4.55	5.218	10.61	9.336
Change	-	105.62%	-40.56%	-49.28%	-126.89%	214.68%	103.31%	-12%
Nbr of stocks (in thousands)	-	117,106	133,971	131,072	231,097	237,979	237,979	237,979
Announcement Date	3/1/21	2/23/22	2/21/23	2/20/24	2/26/25	-	-	-