olivLaw · US equity research
Cheniere Energy, Inc. LNG
Natural Gas Distribution · SIC 4924 · Vertical: Natural Gas Distribution (SIC 4924)
Cheniere Energy is one of the largest LNG infrastructure companies in the United States, with total revenues of 19,976 million USD in fiscal 2025. The first half of 2026 brought revenues of 11.60 billion USD and consolidated Adjusted EBITDA of 4.137 billion USD, and the company raised its 2026 guidance.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Cheniere Energy, Inc. (LNG) stock was 292.02 USD (−6.15% on the day), with market capitalisation 59.6 bn USD, P/E 20.3 on diluted EPS of 14.36 USD over the last 12 months, dividend yield 0.62%, beta 0.25, 52-week range 188.83–330.32 USD. Latest reported quarter (Q3 2026): revenue of 6.2 bn USD (+39.0% YoY), net income of 1.2 bn USD (+11.5% YoY), diluted EPS 5.65 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.6
- neutral
- Bollinger (20, 2)
- 265.10 – 322.48
- in the lower half of the band · %B 0.47 · band width 19.5%
- SMA 50 / 200
- 283.68 / 257.99
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 8.56 / 7.71
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +6.2% | −1.1% | +7.3 pp | — |
| 3 months | +14.6% | −0.5% | +15.1 pp | — |
| 6 months | +11.7% | +4.4% | +7.3 pp | — |
| Year to date | +50.2% | +12.3% | +37.9 pp | — |
| 1 year | +41.2% | +13.5% | +27.7 pp | +2.8% |
| 3 years | +68.2% | +76.4% | −8.2 pp | +40.1% |
| 5 years | +170.8% | +63.7% | +107.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.4 bn | 5.4 bn | 4.6 bn | 4.4 bn | 5.5 bn | 5.9 bn | 5.7 bn | 6.2 bn |
| Cost of revenue | 1.7 bn | 3.6 bn | 1.1 bn | 1.8 bn | 712.0 m | 8.3 bn | 439.0 m | 3.2 bn |
| SG&A | 142.0 m | 116.0 m | 99.0 m | 81.0 m | 87.0 m | 136.0 m | 88.0 m | 112.0 m |
| Operating income | 1.7 bn | 961.0 m | 2.5 bn | 1.8 bn | 3.8 bn | -3.5 bn | 4.3 bn | 1.9 bn |
| Depreciation & amortisation | 308.0 m | 312.0 m | 329.0 m | 338.0 m | 350.0 m | 373.0 m | 380.0 m | 393.0 m |
| Interest expense | 240.0 m | 229.0 m | 237.0 m | 236.0 m | 246.0 m | 255.0 m | 287.0 m | 285.0 m |
| Pre-tax income | 1.5 bn | 789.0 m | 2.3 bn | 1.6 bn | 3.6 bn | -3.8 bn | 4.0 bn | 1.7 bn |
| Income tax | 261.0 m | 121.0 m | 426.0 m | 303.0 m | 638.0 m | -341.0 m | 366.0 m | 168.0 m |
| Net income | 977.0 m | 353.0 m | 1.6 bn | 1.0 bn | 2.3 bn | -3.5 bn | 3.1 bn | 1.2 bn |
| Diluted EPS | 4.33 ≈ | 1.57 | 7.30 | 4.75 | 10.71 ≈ | -16.65 | 14.65 | 5.65 |
| Operating cash flow | 1.6 bn | 1.2 bn | 831.0 m ≈ | 1.4 bn ≈ | 2.1 bn | 1.1 bn | 1.6 bn ≈ | 2.5 bn ≈ |
| Capex | 569.0 m | 623.0 m | 1.0 bn ≈ | 687.0 m ≈ | 744.0 m | 736.0 m | 1.2 bn ≈ | 732.0 m ≈ |
| Dividends paid | 112.0 m | 112.0 m | 111.0 m ≈ | 109.0 m ≈ | 119.0 m | 117.0 m | 116.0 m ≈ | 114.0 m ≈ |
| Share repurchases | 281.0 m | 363.0 m | 327.0 m ≈ | 997.0 m ≈ | 1.0 bn | 537.0 m | 576.0 m ≈ | 706.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 68 percentile of its own 25-quarter history (min 3.3, median 14.2, max 110.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.0 bn | 9.7 bn | 9.4 bn | 15.9 bn | 33.4 bn | 20.4 bn | 15.7 bn | 20.0 bn |
| Revenue YoY | +42.6% | +21.8% | −3.8% | +69.5% | +110.7% | −39.0% | −23.0% | +27.2% |
| Net income | 471.0 m | 648.0 m | -85.0 m | -2.3 bn | 1.4 bn | 9.9 bn | 3.3 bn | 5.3 bn |
| Net income YoY | unavailable | +37.6% | −113.1% | unavailable | unavailable | +591.9% | −67.1% | +63.9% |
| Diluted EPS | 1.90 | 2.51 | -0.34 | -9.25 | 5.64 | 40.72 | 14.20 | 24.13 |
| Diluted EPS YoY | unavailable | +32.1% | −113.5% | unavailable | unavailable | +622.0% | −65.1% | +69.9% |
| net % | 5.9% | 6.7% | -0.9% | -14.8% | 4.3% | 48.5% | 20.7% | 26.7% |
| Free cash flow | -1.7 bn | -1.2 bn | -574.0 m | 1.5 bn | 8.7 bn | 6.3 bn | 3.2 bn | 2.5 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.1 bn USD
- Financial debt
- 22.8 bn USD
- Net debt
- 21.7 bn USD
- Equity
- 12.9 bn USD
- Total assets
- 47.9 bn USD
- Debt / equity
- 1.76x
- Current ratio
- 0.94x
- ROE
- 46.4%
- ROA
- 11.6%
- FCF margin
- 12.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 9.4 bn | 15.9 bn | 33.4 bn | 20.4 bn | 15.7 bn | 20.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 4.2 bn | 13.8 bn | 25.6 bn | 1.4 bn | 6.0 bn | 7.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 5.2 bn ≈ | 2.1 bn ≈ | 7.8 bn ≈ | 19.0 bn ≈ | 9.7 bn ≈ | 12.8 bn ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Research & development | 6.0 m | 7.0 m | 16.0 m | — | — | — | SEC (XBRL)· 23 Feb 2023verified |
| SG&A | 302.0 m | 325.0 m | 416.0 m | 474.0 m | 441.0 m | 383.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 2.6 bn | -701.0 m | 4.6 bn | 15.5 bn | 6.1 bn | 9.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 932.0 m | 1.0 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 3.6 bn ≈ | 310.0 m ≈ | 5.7 bn ≈ | 16.7 bn ≈ | 7.3 bn ≈ | 10.4 bn ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 1.5 bn | 1.4 bn | 1.4 bn | 1.1 bn | 1.0 bn | 948.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 544.0 m | -2.3 bn | 3.1 bn | 14.6 bn | 5.3 bn | 8.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 43.0 m | -713.0 m | 459.0 m | 2.5 bn | 811.0 m | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Net income | -85.0 m | -2.3 bn | 1.4 bn | 9.9 bn | 3.3 bn | 5.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | -0.34 | -9.25 | 5.64 | 40.72 | 14.20 | 24.13 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 252.4 m | 253.4 m | 253.4 m | 242.6 m | 229.1 m | 220.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | 0.00 | 0.33 | 1.39 | 1.62 | 1.81 | — | SEC (XBRL)· 20 Feb 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.6 bn | 1.4 bn | 1.4 bn | 4.1 bn | 2.6 bn | 1.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | — | — | — | — | 661.0 m | 1.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 292.0 m | 706.0 m | 826.0 m | 445.0 m | 501.0 m | 524.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 3.2 bn | 5.1 bn | 5.6 bn | 6.3 bn | 4.8 bn | 3.7 bn | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 30.4 bn | 30.3 bn | 31.5 bn | 32.5 bn | 33.6 bn | 35.8 bn | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 77.0 m | 77.0 m | 77.0 m | 77.0 m | 77.0 m | 77.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 35.7 bn | 39.3 bn | 41.3 bn | 43.1 bn | 43.9 bn | 47.9 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 35.0 m | 155.0 m | 124.0 m | 181.0 m | 171.0 m | 123.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 372.0 m | 366.0 m | 813.0 m | 300.0 m | 351.0 m | 306.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 30.5 bn | 29.4 bn | 24.1 bn | 23.4 bn | 22.6 bn | 22.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 2.2 bn | 4.7 bn | 6.8 bn | 3.9 bn | 4.4 bn | 3.9 bn | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | — | — | — | 34.1 bn | 33.8 bn | 34.8 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 2.2 bn | -33.0 m | -171.0 m | 9.0 bn | 10.1 bn | 12.9 bn | SEC (XBRL)· 26 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.3 bn | 2.5 bn | 10.5 bn | 8.4 bn | 5.4 bn | 5.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 1.8 bn | 966.0 m | 1.8 bn | 2.1 bn | 2.2 bn | 3.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | -574.0 m ≈ | 1.5 bn ≈ | 8.7 bn ≈ | 6.3 bn ≈ | 3.2 bn ≈ | 2.5 bn ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -1.9 bn | -912.0 m | -1.8 bn | -2.2 bn | -2.3 bn | -3.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -235.0 m | -1.8 bn | -8.0 bn | -4.2 bn | -4.5 bn | -4.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 0 | 85.0 m | 349.0 m | 393.0 m | 412.0 m | 451.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 155.0 m | 9.0 m | 1.4 bn | 1.5 bn | 2.3 bn | 2.7 bn | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 62 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 59.6 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet51
- Growth50
- Quality86
- Returns88
- Valuation49
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 23.72 – 367.29 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)174.29 – 363.17 (Mid 243.55)WACC 8.1% · starting FCFF 4.7 bn USD · terminal value share of EV 76%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 0.4%
- Peers: EV/EBITDA214.27 – 367.29 (Mid 280.35)7 companies used · median multiple 9.9x · quartiles 8.2x – 12.1xATO, CQP, MDU, NFG, NJR, NWN, SR
- Peers: P/E168.01 – 287.36 (Mid 232.10)10 companies used · median multiple 16.2x · quartiles 11.7x – 20.0xATO, CQP, EE, MDU, NFG, NJR, NWN, OGS, SR, VG
- Dividend discount (DDM)23.72 – 31.90 (Mid 27.21)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 62/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 16.5% | 100 (vs peers) | 10% |
| Net margin · Quality | 13.1% | 50 (vs peers) | 6% |
| FCF conversion · Quality | 124.7% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | -15.8% | 0 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | 62.3% | 100 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 2.8x | 56 (vs peers) | 10% |
| Interest coverage · Balance sheet | 6.1x | 70 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 0.9x | 8 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 20.3x | 30 (vs peers) | 10% |
| EV/EBITDA · Valuation | 10.2x | 43 (vs peers) | 10% |
| FCF yield · Valuation | 6.4% | 79 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 5.6% | 80 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 12.3% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet51/100 · 3/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality86/100 · 3/3 factors with a value
- Returns88/100 · 2/2 factors with a value
- Valuation49/100 · 3/3 factors with a value
Memo
CHENIERE ENERGY, INC. (LNG). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 20.0 bn USD in 2025; YoY growth 27.2%; net margin 13.1%; ROE 45.7%; net debt/EBITDA 2.8x.
The estimated value range is 171.15–325.27 USD per share (median of 4 methods, agreement: high); assumptions are illustrative. Against the central value of 237.83 USD, the price of 292.02 USD leaves a potential of -18.6% (value / price − 1) and a margin of safety of -22.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 62/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 16.5%
- FCF conversion: 124.7%
- EPS CAGR 3Y: 62.3%
- Interest coverage: 6.1x
- FCF yield: 6.4%
- Shareholder yield (distributions): 5.6%
- Payout ratio (FCF): 12.3%
What contradicts it
- Revenue CAGR 3Y: -15.8%
- Current ratio: 0.9x
- P/E (TTM): 20.3x
Versus the vertical median
Natural Gas Distribution (SIC 4924) · same industry (4-digit SIC) · compared with 14 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LNGCheniere Energy, Inc. | 59.6 bn | 20.3 | 45.7% | 13.1% | +27.2% | +41% / +68% |
| ATOAtmos Energy Corp | 29.8 bn | 21.0 | 9.8% | 28.5% | +12.9% | +0% / +55% |
| CQPCheniere Energy Partners, L.P. | 27.4 bn | 8.4 | — | 28.1% | +23.6% | +4% / −8% |
| NFGNational Fuel Gas Company | 7.3 bn | 10.6 | 19.6% | 26.9% | +17.1% | −7% / +51% |
| NJRNew Jersey Resources Corporation | 5.6 bn | 15.2 | 14.5% | 24.0% | +9.9% | +15% / +30% |
| SRSpire Inc. | 5.3 bn | 14.9 | 10.3% | 13.9% | −4.5% | +2% / +48% |
| OGSONE Gas, Inc. | 5.2 bn | 17.5 | 8.7% | — | +42.5% | −2% / +43% |
| MDUMdu Resources Group Inc | 4.2 bn | 20.8 | 7.0% | 10.7% | +6.7% | −7% / +87% |
| NWNNorthwest Natural Holding Company | 2.2 bn | 17.1 | 8.3% | 9.7% | +11.8% | +4% / +40% |
| NFENew Fortress Energy Inc. | 1.2 bn | — | -533.9% | -148.7% | −36.2% | +234% / −89% |
| SLNGStabilis Solutions, Inc. | 71.2 m | — | -14.0% | -17.4% | −6.9% | −18% / −16% |
| CETYClean Energy Technologies, Inc. | 10.4 m | — | -76.3% | -245.9% | −63.8% | −53% / −96% |
| EEExcelerate Energy, Inc | — | 26.8 | — | — | +44.3% | +22% / +105% |
| UGPUltrapar Holdings Inc. | — | — | 16.5% | 1.8% | +5.9% | +36% / +10% |
| VGVenture Global, Inc. | — | 9.1 | 54.7% | 22.3% | +176.9% | +61% / unavailable |
1- and 3-year price returns: for LNG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 161.76 Total return -45% · Per year -45% | 287.43 Total return -2% · Per year -2% | 434.93 Total return 49% · Per year 49% |
| 3 years | 128.45 Total return -56% · Per year -24% | 259.41 Total return -11% · Per year -4% | 434.93 Total return 49% · Per year 14% |
| 5 years | 101.99 Total return -65% · Per year -19% | 234.11 Total return -20% · Per year -4% | 434.93 Total return 49% · Per year 8% |
- Exit P/E± 64.85
- Net margin± 45.40
- Annual revenue growth± 41.00
- Annual dilution± 3.81
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (29 Oct 2026 · results).
In brief
Cheniere Energy is one of the largest LNG infrastructure companies in the United States, with total revenues of 19,976 million USD in fiscal 2025 1. The first half of 2026 brought revenues of 11.60 billion USD and consolidated Adjusted EBITDA of 4.137 billion USD 3, and the company raised its 2026 guidance 3.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Access to capitalhigh
The company relies on new financing for ongoing projects, and market conditions could raise costs or reduce availability 1.
- Dependence on long-term customershigh
If a significant customer fails to perform its obligations, revenues could be materially affected 1.
- Derivative volatilitymedium
Changes in the value of derivative instruments can strongly influence reported net income 1.
- Supply interruptionsmedium
Problems with third party pipelines or gas sources could limit production and deliveries 1.
- Weather and operational hazardslow
Storms and other disasters could affect terminals and increase insurance costs 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Completion of the first phase of the SPL Expansion and final investment decision2026
- Development of the EBITDA and distributable cash flow guidanceQ3 2026
- Trends in European and Asian LNG demand2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (29 Oct 2026 · results).
The business
Cheniere Energy, Inc. is an energy infrastructure company primarily engaged in LNG-related businesses, supplying liquefied natural gas to integrated energy companies, utilities and energy trading companies around the world 2. It operates two liquefaction and export facilities, at Sabine Pass, Louisiana, and near Corpus Christi, Texas 1. Total production capacity is expected to exceed 60 mtpa, of which over 6 mtpa was under construction as of June 30, 2026 2. Revenues come mainly from long-term contracts with third party customers that provide stable cash flows 1.
Segments
Market context
The LNG market is moving from a period of tight supply to one of rapid growth, following nearly 20 mtpa of new supply in 2025 1. The average JKM price in 2025 was 12.71 USD per MMBtu, while Henry Hub averaged 3.43 USD per MMBtu 1. European demand reached a record level of about 125 mtpa 1, although expanding supply could moderate prices over the medium term 1.
Trends
- Growth in global LNG supplymixed
New capacity in the US and Canada could loosen the global balance and lead to more moderate prices 1. This could compress margins for producers while unlocking latent demand 1.
- European LNG demandtailwind
Replacing Russian gas and refilling storage supported European demand 1. The European Parliament's vote to ban Russian gas could keep demand high 1.
- Weaker Asian demandheadwind
LNG consumption in Asia declined in 2025, mainly due to China 1. If this continues, it could limit spot sales revenues 1.
- Henry Hub-linked contractsmixed
Long-term contracts indexed to Henry Hub provide stability, and cheaper markets could unlock latent demand 2.
Competitive position
Cheniere ranks among the largest LNG producers in the world and is the largest in the US 2. Competition comes from other US and Canadian exporters that are adding capacity in the same market 1.
- Other US and Canadian LNG exporters
New capacity in the US and Canada increases global supply and intensifies competition for long-term contracts 1.
- LNG producers in Qatar
The analyzed sources refer to the global LNG market but do not detail these producers' positions.
- LNG operators in Australia
The analyzed sources mention global supply competition without detailed comparative data.
- Russian LNG suppliers
The withdrawal of Russian gas from Europe opened the market to new suppliers, including US producers 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Should You Be Optimistic on Cheniere Energy’s (LNG) Long-Term OutlookYahoo Finance — News · 18 Sept 2026 · EN
- Cheniere Energy: Corpus Christi Expansion Strengthens Its LNG Growth OutlookYahoo Finance — News · 31 Aug 2026 · EN
The latest news item in our archive is from 18 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report03 Nov 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
- Current report29 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report29 Oct 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report28 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report14 Jul 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report02 Jul 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report09 Jun 2026Material agreement · Financial statements and exhibits
- Current report27 May 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Cheniere Energy, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Cheniere Energy, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Cheniere Energy, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.