LNG
Cheniere Energy, Inc.
LNG's fundamentals are mixed, but it looks expensive: trading at 22x earnings, above its usual 13x. Analysts expect strong earnings growth, though they disagree widely on how much.
LNG Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Stable |
LNG's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
LNG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.9x | $68.84 | -78% |
| Fair | 13x | $185 | -40% |
| Forward | 15x | $309 | — |
| Expensive | 19x | $264 | -15% |
| Current | 22x | $309 | — |
Historical ranges are pointers, not guarantees.
LNG's PE is in its expensive range at 22x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its fair range.
LNG Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for LNG, with profitability improving. However, they disagree widely on these estimates.
LNG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $21.23 | +50% |
| Q3 2026 | $14.16 | -21% |
| Q2 2026 | $13.26 | -22% |
| Q1 2026 | $5.91 | -57% |
| Q4 2025 | $24.13 | +70% |
| Q3 2025 | $17.92 | +13% |
| Q2 2025 | $17.10 | -9.9% |
| Q1 2025 | $13.64 | -34% |
| Q4 2024 | $14.20 | -65% |
LNG's earnings per share have fallen from their peak: $14.16 over the past year, against $50.43 in late 2023.
LNG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $6.2B | +39% |
| Q2 2026 | $5.7B | +24% |
| Q1 2026 | $5.9B | +7.8% |
| Q4 2025 | $5.5B | +23% |
| Q3 2025 | $4.4B | +18% |
| Q2 2025 | $4.6B | +43% |
| Q1 2025 | $5.4B | +28% |
| Q4 2024 | $4.4B | -8% |
LNG's revenue is recovering but still below its 2022 peak: $6.2B last quarter, up 39% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | -9.9 points |
| Q2 2026 | 75% | +20 points |
| Q1 2026 | -59% | -77 points |
| Q4 2025 | 70% | +31 points |
| Q3 2025 | 41% | -2.9 points |
| Q2 2025 | 55% | +5.7 points |
| Q1 2025 | 18% | -9.5 points |
| Q4 2024 | 39% | -11 points |
LNG's operating margin was 31% last quarter, down 9.9 points from the same quarter a year ago.
LNG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +135% |
| Q2 2026 | $398M | +$591M |
| Q1 2026 | $344M | -43% |
| Q4 2025 | $1.3B | +22% |
| Q3 2025 | $738M | -16% |
| Q2 2025 | -$193M | -131% |
| Q1 2025 | $605M | +1.5% |
| Q4 2024 | $1.1B | +4.2% |
LNG still generates free cash flow, though less than at its 2023 peak: $3.8B over the past year.
LNG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -2.6M shares |
| 1 year | -5.9% | -13M shares |
| 3 years | -15% | -35.1M shares |
| 5 years | -18% | -46.7M shares |
| Available history | -20% | -51.2M shares |
LNG has 207M diluted shares, down 5.9% from a year ago, with $2.9B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $706M |
| Q2 2026 | $576M |
| Q1 2026 | $537M |
| Q4 2025 | $1B |
| Q3 2025 | $997M |
| Q2 2025 | $327M |
| Q1 2025 | $363M |
| Q4 2024 | $281M |
LNG spent $2.9B buying back its own shares over the past year, up 45% from the year before.
LNG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.8x | Moderate |
| Q2 2026 | 2.9x | Moderate |
| Q1 2026 | 3.7x | Elevated |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.6x | Moderate |
| Q2 2025 | 2.6x | Moderate |
| Q1 2025 | 2.8x | Moderate |
| Q4 2024 | 2.8x | Moderate |
LNG's net debt is about 2.8 years of its operating earnings (EBITDA), up from 2.6 years a year ago.
LNG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.5 | Neutral |
| Stochastic | 68.2 | Neutral |
LNG's weekly RSI is 60 (neutral) and its Stochastic is 68 (neutral).
LNG PE vs Energy Sector
| Metric | LNG | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 13x | 67% above |
| PE % | 89 | 61 | 28 pts above |
LNG is trading at 22x earnings, a 67% premium to the Energy sector's median of 13x.
LNG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $290.3 | 6.6% above |
| 20 week MA | $277.5 | 12% above |
| 50 week MA | $250.9 | 23% above |
| 100 week MA | $239.1 | 29% above |
| 200 week MA | $203.1 | 52% above |
LNG is in an uptrend: it's above all five of its weekly moving averages, and 52% above its 200-week average.
LNG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.3 | $57.9 | -5.5% |
| 2021 | $57.9 | $104.0 | +80% |
| 2022 | $104.0 | $155.9 | +50% |
| 2023 | $155.9 | $170.7 | +9.5% |
| 2024 | $170.7 | $210.5 | +23% |
| 2025 | $210.5 | $189.3 | -10% |
| 2026 YTD | $189.3 | $309.5 | +63% |
LNG has finished higher in four of the last six years. It's up 63% so far in 2026.