Stock Analysis on Net
Stock Analysis on Net

EQT Corp. (NYSE:EQT)

This company has been moved to the archive! The financial data has not been updated since October 27, 2022.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

EQT Corp., FCFE calculation

US$ in thousands

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net income (loss) attributable to EQT Corporation (1,155,759) (967,166) (1,221,695) (2,244,568) 1,508,529
Net (income) loss attributable to noncontrolling interest 1,246 (10) — 237,410 349,613
Net noncash charges 3,183,669 2,365,699 3,053,863 5,102,909 (209,780)
Changes in other assets and liabilities (366,708) 139,178 19,536 (119,495) (10,664)
Net cash provided by operating activities 1,662,448 1,537,701 1,851,704 2,976,256 1,637,698
Capital expenditures (1,055,128) (1,042,231) (1,602,454) (2,999,037) (1,559,051)
Capital expenditures for discontinued operations — — — (732,727) (380,151)
Proceeds from credit facility borrowings 8,086,000 3,118,250 2,978,750 8,637,500 2,063,000
Repayment of credit facility borrowings (8,386,000) (3,112,250) (3,484,750) (8,953,500) (1,076,500)
Proceeds from issuance of debt 1,000,000 2,600,000 1,000,000 2,500,000 3,000,000
Debt issuance costs and Capped Call Transactions (19,713) (71,056) (913) (40,966) (41,876)
Repayment and retirement of debt (154,336) (2,822,262) (704,661) (8,376) (2,000,000)
Premiums paid on debt extinguishment (9,599) (21,132) — — (89,363)
Free cash flow to equity (FCFE) 1,123,672 187,020 37,676 1,379,150 1,553,757

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to EQT Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. EQT Corp. FCFE increased from 2019 to 2020 and from 2020 to 2021.

Price to FCFE Ratio, Current

EQT Corp., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 367,046,005
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 1,123,672
FCFE per share 3.06
Current share price (P) 39.10
Valuation Ratio
P/FCFE 12.77
Benchmarks
P/FCFE, Competitors1
Chevron Corp. 18.85
ConocoPhillips 13.15
Exxon Mobil Corp. 13.78
Marathon Petroleum Corp. 4.96
Occidental Petroleum Corp. 9.49
Valero Energy Corp. 6.32
P/FCFE, Sector
Oil, Gas & Consumable Fuels 26.93
P/FCFE, Industry
Energy 28.03

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

EQT Corp., historical P/FCFE calculation, comparison to benchmarks

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 376,023,250 278,854,465 255,454,000 254,762,000 264,473,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 1,123,672 187,020 37,676 1,379,150 1,553,757
FCFE per share3 2.99 0.67 0.15 5.41 5.87
Share price1, 4 21.67 19.17 5.38 18.20 53.34
Valuation Ratio
P/FCFE5 7.25 28.58 36.48 3.36 9.08
Benchmarks
P/FCFE, Competitors6
Chevron Corp. 32.05 21.61 38.28 — —
ConocoPhillips 10.61 497.58 14.36 — —
Exxon Mobil Corp. 19.82 13.70 16.01 — —
Marathon Petroleum Corp. 65.05 51.11 5.87 — —
Occidental Petroleum Corp. 66.22 — 1.84 — —
Valero Energy Corp. 12.51 9.57 7.61 — —
P/FCFE, Sector
Oil, Gas & Consumable Fuels 20.61 19.80 11.93 — —
P/FCFE, Industry
Energy 21.56 19.35 12.49 — —

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2021 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 1,123,672,000 ÷ 376,023,250 = 2.99

4 Closing price as at the filing date of EQT Corp. Annual Report.

5 2021 Calculation
P/FCFE = Share price ÷ FCFE per share
= 21.67 ÷ 2.99 = 7.25

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. EQT Corp. P/FCFE ratio decreased from 2019 to 2020 and from 2020 to 2021.