EE
Excelerate Energy, Inc.
EE's fundamentals are mixed: revenue grew 16%, but free cash flow fell 95%. At 27x earnings, it's trading above its usual 23x. Analysts expect strong earnings growth, though they disagree widely on how much.
EE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Healthy |
EE's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
EE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $25.31 | -34% |
| Forward | 19x | $38.10 | — |
| Fair | 23x | $32.60 | -14% |
| Current | 27x | $38.10 | — |
| Expensive | 28x | $40.43 | +6.1% |
Historical ranges are pointers, not guarantees.
EE's PE is in its expensive range at 27x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its cheap range.
EE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for EE, but weaker profitability. However, they disagree widely on these estimates.
EE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.97 | +39% |
| Q3 2026 | $1.42 | -2.7% |
| Q2 2026 | $1.41 | +2.2% |
| Q1 2026 | $1.19 | -20% |
| Q4 2025 | $1.28 | +0.8% |
| Q3 2025 | $1.46 | +36% |
EE earned $1.42 per share over the past year, down 2.7% from the year before.
EE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $297.2M | -24% |
| Q2 2026 | $329.3M | +61% |
| Q1 2026 | $433.4M | +38% |
| Q4 2025 | $317.6M | +16% |
| Q3 2025 | $391M | +102% |
| Q2 2025 | $204.6M | +12% |
| Q1 2025 | $315.1M | +57% |
| Q4 2024 | $274.6M | +14% |
EE's revenue is growing: $297M last quarter, down 24% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | +9.5 points |
| Q2 2026 | 25% | +3.4 points |
| Q1 2026 | 19% | -1.9 points |
| Q4 2025 | 22% | +0.2 points |
| Q3 2025 | 22% | -8.6 points |
| Q2 2025 | 21% | -6 points |
| Q1 2025 | 21% | -1.7 points |
| Q4 2024 | 22% | +5.3 points |
EE's operating margin was 32% last quarter, up 9.5 points from the same quarter a year ago, near the top of its range since 2021.
EE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $50.5M | -20% |
| Q2 2026 | -$143.3M | -366% |
| Q1 2026 | $33.7M | -70% |
| Q4 2025 | $70.8M | +$84.7M |
| Q3 2025 | $62.9M | +122% |
| Q2 2025 | $53.9M | -17% |
| Q1 2025 | $110.7M | +113% |
| Q4 2024 | -$13.9M | -149% |
EE still generates free cash flow, though less than at its 2022 peak: $12M over the past year.
EE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -144K shares |
| 1 year | -1.4% | -473K shares |
| 3 years | +23% | +6M shares |
| 5 years | +45% | +9.9M shares |
EE has 32M diluted shares, down 1.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
EE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.0x | Very low |
| Q4 2025 | 1.1x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -0.7x | Net Cash |
EE's net debt is about 1.2 years of its operating earnings (EBITDA), about the same as a year ago.
EE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.0 | Neutral |
| Stochastic | 56.9 | Neutral |
EE's weekly RSI is 56 (neutral) and its Stochastic is 57 (neutral).
EE PE vs Utilities Sector
| Metric | EE | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 20x | 31% above |
| PE % | 69 | 59 | 10 pts above |
EE is trading at 27x earnings, a 31% premium to the Utilities sector's median of 20x.
EE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $34.5 | 10% above |
| 20 week MA | $36.7 | 3.8% above |
| 50 week MA | $35.1 | 8.5% above |
| 100 week MA | $31.4 | 21% above |
| 200 week MA | $25.4 | 50% above |
EE is in an uptrend: it's above all five of its weekly moving averages, and 50% above its 200-week average.
EE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2022 | $28.0 | $26.5 | -5.5% |
| 2023 | $26.5 | $15.5 | -42% |
| 2024 | $15.5 | $30.2 | +95% |
| 2025 | $30.2 | $27.9 | -7.7% |
| 2026 YTD | $27.9 | $38.1 | +37% |
EE is up 37% so far in 2026, after finishing lower in three of the previous four years.