Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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Profitability Ratios (Summary)
Expand Energy Corp., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial data reveals significant fluctuations in the profitability and efficiency ratios of the company over the observed quarters.
- Operating Profit Margin (%)
- The operating profit margin first appears in the quarter ending March 31, 2022, showing a slight negative margin of -1.64%. Subsequently, it improves markedly, reaching a peak of 58.73% by December 31, 2023. After this peak, a downward trend becomes apparent, with margins declining to -18.85% by March 31, 2025. This suggests a period of growing operational efficiency followed by a substantial deterioration in operating performance.
- Net Profit Margin (%)
- Similar to operating margin, net profit margin exhibits substantial volatility. Starting at -1.32% in March 31, 2022, it climbs sharply to a high of 68.67% in December 31, 2023. Following this peak, a significant decrease occurs, with the margin turning negative, reaching -16.76% by March 31, 2025. The trend indicates high profitability phases interspersed with periods of substantial losses.
- Return on Equity (ROE) (%)
- The ROE values reveal amplified swings in profitability relative to shareholders’ equity. Beginning from -2.12% in March 31, 2022, ROE rises to its maximum at 68.94% in June 30, 2023, but then undergoes a continuous decline to negative territory at -5.75% by March 31, 2025. This suggests fluctuations in the company’s ability to generate returns for its equity investors, with a notable peak before a decline into negative returns.
- Return on Assets (ROA) (%)
- The ROA presents a similar pattern as other ratios, starting near zero at -0.86% in March 31, 2022, then improving to a high of 48.58% in June 30, 2023. Thereafter, it progressively decreases to -3.54% by March 31, 2025, indicating reductions in asset efficiency and overall profitability from company assets towards the end of the period.
Overall, the data indicates that the company experienced a phase of considerable improvement in profitability and efficiency ratios, peaking around mid to late 2023. However, this positive momentum reversed in the following quarters, culminating in negative profitability ratios by early 2025. These trends suggest increased operational challenges or market conditions impacting the company’s financial performance adversely during the final observed periods.
Return on Sales
Return on Investment
Operating Profit Margin
Expand Energy Corp., operating profit margin calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Income (loss) from operations | |||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||
| Occidental Petroleum Corp. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Operating profit margin = 100
× (Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024
+ Income (loss) from operationsQ2 2024)
÷ (RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024
+ RevenuesQ2 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Income (loss) from operations
- The income from operations exhibits notable volatility throughout the observed periods. Starting with a positive value of 51 million USD in the first quarter of 2021, it sharply declined to negative values in mid-2021, reaching losses of -430 million USD and -338 million USD in the second and third quarters, respectively. A strong recovery followed in the fourth quarter of 2021 with an income of 1,421 million USD. However, the fluctuations continued, with subsequent periods showing significant swings, including sizeable losses in the first quarter of 2022 (-794 million USD), and substantial profits later that year, peaking at 2,228 million USD in the last quarter. In 2023, the income experienced a downward trend with substantial reductions, including some low positive values and a further drop into negative territory by the end of 2024 and early 2025, ending at -268 million USD in the first quarter of 2025. These swings indicate a highly unstable operational profitability with periods of both high earnings and significant losses.
- Revenues
- Revenues generally demonstrate a cyclical and somewhat volatile pattern. Starting at 1,467 million USD in the first quarter of 2021, revenue figures climbed steadily to a peak of 4,193 million USD in the third quarter of 2022. However, following this peak, there was a notable decline throughout late 2022 and 2023, with values dropping as low as 514 million USD in the second quarter of 2024. The revenue trend showed signs of recovery towards late 2024 and early 2025, reaching 3,210 million USD in the first quarter of 2025. This pattern suggests sensitivity to market or operational conditions impacting revenue generation, with a mid-period peak followed by a trough and a rebound.
- Operating profit margin
- The operating profit margin data is only available from the fourth quarter of 2021 onward. At that point, the margin started at 9.64%, then experienced minor negative to positive fluctuations before showing a robust upward trajectory, reaching its highest values between the first quarter of 2023 (47.55%) and the last quarter of 2023 (58.73%). Subsequently, the margin declined significantly during 2024, falling from 27.96% in the first quarter to negative territory by the last quarter (-18.85%) and sustaining negative margins into the first quarter of 2025 (-16.79%). This pattern aligns with the variations seen in income from operations and revenues, reflecting periods of high profitability succeeded by sharp declines, concluding in operational losses.
- Summary Insights
- The data indicate considerable instability in both profitability and revenue streams over the analyzed periods. After a period of deep losses in mid-2021, operations experienced a strong recovery and sustained high margins into 2023, implying effective operational leverage. However, the subsequent fall in both revenues and operating margins through 2024 and early 2025 points to challenging market or internal conditions affecting performance. The substantial fluctuations call for further examination of underlying drivers such as market demand, cost structure, pricing strategy, or one-off events impacting the financial results. The cyclical nature of revenues and margins suggest sensitivity to external factors, potentially commodity prices or seasonal demand in the sector.
Net Profit Margin
Expand Energy Corp., net profit margin calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) | |||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||
| Occidental Petroleum Corp. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Net profit margin = 100
× (Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024
+ Net income (loss)Q2 2024)
÷ (RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024
+ RevenuesQ2 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data displays fluctuating results over the analyzed periods, revealing shifts in both profitability and revenue streams.
- Net Income (Loss)
- The net income figures exhibit considerable volatility. Starting with a strong positive value of 5,678 million USD in the first quarter of 2021, there is a sharp drop to negative values in the subsequent two quarters. Recovery phases are observed intermittently, particularly notable is the increase to 3,580 million USD in the last quarter of 2022. However, this positive trend is not sustained, as the net income again moves toward losses in the quarters spanning 2024 and early 2025, culminating in modest negative values around -249 million USD by the first quarter of 2025.
- Revenues
- Revenues display an increasing trend initially from 1,467 million USD in the first quarter of 2021 to a peak of 4,193 million USD in the third quarter of 2022. After this peak, revenues decline sharply through late 2023 and early 2024, dropping to as low as 514 million USD in the second quarter of 2024. A recovery begins afterward, with revenues rising again to 3,210 million USD by the first quarter of 2025, indicating a period of potential business revitalization or increased sales activities.
- Net Profit Margin
- The net profit margin, where data is available, confirms the volatility seen in net income. After a remarkable high of 86.67% in December 2021, margins dip into negative territory early in 2022 but recover quickly to a peak of 68.67% in late 2023. Post this peak, there is a continuous decline, with margins turning negative again towards the end of the data period (2024–2025), reflecting deteriorating profitability despite the revenue rebound.
Overall, the company's financial performance reveals significant instability in profitability, with periods of robust earnings followed by several quarters of losses. Revenue trends suggest an initial phase of growth, a sharp contraction, and a subsequent recovery. The profit margin data supports these observations, highlighting a challenging operating environment with fluctuating cost control or pricing pressures influencing net profitability in the latter periods. These patterns may warrant closer examination of operational efficiency, market conditions, and strategic initiatives in place to stabilize financial results moving forward.
Return on Equity (ROE)
Expand Energy Corp., ROE calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) | |||||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||
| Occidental Petroleum Corp. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
ROE = 100
× (Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024
+ Net income (loss)Q2 2024)
÷ Stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The net income of the company demonstrates significant volatility throughout the observed periods. Initially, the net income recorded a positive figure of 5,678 million US dollars in March 2021, followed by notable negative values in the middle of 2021, indicating losses in consecutive quarters. Subsequently, from late 2021 to early 2022, the company experienced a recovery, with net income oscillating between negative and positive amounts but generally trending upward, reaching a peak of 3,580 million US dollars by December 2022. However, starting from 2023, the net income values show a clear downward trend marked by declining profits and intermittent small losses, culminating in negative figures in the later quarters of 2024 and early 2025.
The stockholders’ equity exhibits a generally upward trajectory over the observed period. Beginning at 3,881 million US dollars in March 2021, it displayed some fluctuations during the early periods but maintained overall growth, especially from late 2021 onwards. This growth peaked dramatically by December 2024 at 17,565 million US dollars. Despite slight decreases in some later periods, the equity remained substantially elevated compared to the initial value, suggesting successful capital reinforcement or retained earnings accumulation over time.
The return on equity (ROE) data, available from December 2021 onward, reflects substantial variability in the company's profitability relative to its equity base. Notably, the ROE peaked at 111.59% in December 2021, reflecting an exceptionally high return during that quarter. The following quarters experienced sharp declines with a negative ROE of -2.12% in March 2022, then rebounded significantly to 54.1% by December 2022. From 2023 onward, there was a consistent downward trend in ROE, indicating a decrease in profitability, dropping into negative territory by the first quarter of 2025. This decline suggests that despite the growth in equity, the company was generating diminishing returns for its shareholders in the most recent periods.
In summary, the data reveal a company experiencing considerable swings in profitability, with periods of strong earnings offset by intervals of losses. The equity base has grown substantially, indicating financial strengthening or capital inflow, but the declining ROE in recent quarters highlights concerns regarding operational efficiency and profitability generation. These mixed trends could suggest external market pressures, changes in operational conditions, or varying investment returns that warrant further detailed investigation.
- Net Income (US$ in millions)
- Highly volatile with initial large profit, subsequent losses, recovery to a peak in late 2022, followed by a general downward trend and recent negative values.
- Stockholders’ Equity (US$ in millions)
- Overall consistent increase across the period, with especially strong growth from late 2021 to late 2024, indicating enhanced capital base or retained earnings.
- Return on Equity (ROE %)
- Extremely high and fluctuating in 2021-2022, peaking at over 100%, then declining steadily from 2023, turning negative by early 2025, signaling reduced profitability relative to equity.
Return on Assets (ROA)
Expand Energy Corp., ROA calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) | |||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||
| Occidental Petroleum Corp. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
ROA = 100
× (Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024
+ Net income (loss)Q2 2024)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The net income (loss) figures reveal a volatile earnings pattern over the presented periods. The company experienced a notably high net income of 5,678 million US dollars at the start, followed by several quarters of losses and gains with fluctuating magnitudes. For instance, the initial large positive income was followed by two quarters of losses in mid-2021, and then a recovery with income rising again towards the end of 2021 and into early 2022. The pattern continues with ups and downs, peaking at 3,580 million US dollars in December 2022 before generally declining in subsequent quarters. The latest figures show consistent losses, indicating potential challenges in maintaining profitability.
Total assets show a predominantly upward trajectory until December 2024, growing from about 6,904 million US dollars in March 2021 to a peak of approximately 27,894 million US dollars by late 2024. This growth suggests an expansion or significant asset acquisition over the observed period. However, the assets level off at approximately 27,934 million US dollars by March 2025, indicating stabilization or a possible halt in asset accumulation.
The return on assets (ROA) percentage, available from March 2022 onwards, shows substantial fluctuation and a general declining trend. Starting at a high 57.48% in March 2022, ROA sharply dips into negative territory (-0.86%) the next quarter, then recovers to positive values, peaking again at 48.58% mid-2023. Following this peak, ROA exhibits a steady decrease, dropping to negative values again by early 2025. This declining ROA trend signals diminishing efficiency in using assets to generate earnings, coinciding with the recent periods of net income losses.
- Net Income Trends
- Initial high profitability followed by alternating profits and losses; sharp peaks and troughs; recent quarters marked by consistent losses.
- Total Assets Trends
- Steady asset growth over most periods, nearly quadrupling by late 2024, then stabilizing without further growth in early 2025.
- Return on Assets (ROA)
- High volatility with a peak of nearly 58% early in the series, followed by a progressive decline; recent negative ROA indicates reduced asset utilization efficiency.