Excelerate Energy (EE) Financials

$36.39 +0.17 (+0.47%)

As of 10:23 AM Eastern

Annual Income Statements for Excelerate Energy

This table shows Excelerate Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-245	0.00	13	30	33	39
Consolidated Net Income / (Loss)	-251	41	80	127	153	167
Net Income / (Loss) Continuing Operations	33	41	80	127	153	167
Total Pre-Tax Income	-237	62	108	160	179	195
Total Operating Income	-147	139	187	211	215	267
Total Gross Profit	0.00	498	566	1,159	851	1,228
Total Revenue	0.00	889	2,473	1,159	851	1,228
Operating Revenue	-	889	2,473	1,159	851	1,228
Total Cost of Revenue	0.00	391	1,907	0.00	0.00	0.00
Operating Cost of Revenue	-	391	1,907	0.00	0.00	0.00
Total Operating Expenses	298	359	380	948	636	962
Selling, General & Admin Expense	43	47	66	316	310	278
Depreciation Expense	104	105	97	114	99	111
Other Operating Expenses / (Income)	-	193	209	518	228	538
Restructuring Charge	0.00	14	6.90	0.00	0.00	34
Total Other Income / (Expense), net	-90	-77	-78	-51	-36	-72
Interest Expense	89	81	60	67	61	94
Interest & Investment Income	-	3.26	-19	0.88	2.25	2.34
Other Income / (Expense), net	-0.09	0.56	0.31	16	23	20
Income Tax Expense	14	21	28	33	26	28
Net Income / (Loss) Attributable to Noncontrolling Interest	-5.86	3.04	55	96	120	128
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	0.00	-	0.00	0.00	0.00
Basic Earnings per Share	$0.00	$0.00	$0.51	$1.16	$1.29	$1.31
Weighted Average Basic Shares Outstanding	0.00	0.00	26.25M	26.26M	25.40M	29.88M
Diluted Earnings per Share	$0.00	$0.00	$0.51	$1.11	$1.27	$1.28
Weighted Average Diluted Shares Outstanding	0.00	0.00	26.26M	108.30M	25.84M	30.62M
Weighted Average Basic & Diluted Shares Outstanding	-	-	108.28M	108.28M	105.89M	114.07M

This table shows Excelerate Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	14	3.71	6.32	6.67	8.96	11	11	4.73	14	9.13	12
Consolidated Net Income / (Loss)	47	20	28	33	46	46	52	21	55	39	50
Net Income / (Loss) Continuing Operations	47	20	28	33	46	46	52	21	55	39	50
Total Pre-Tax Income	55	28	35	41	52	52	58	26	63	47	59
Total Operating Income	67	40	45	50	60	60	66	43	87	70	82
Total Gross Profit	169	161	160	152	152	159	154	164	189	721	190
Total Revenue	275	240	200	183	193	275	315	205	391	318	433
Operating Revenue	275	240	200	183	193	275	315	205	391	318	433
Total Cost of Revenue	106	79	40	31	41	115	161	40	202	-403	243
Operating Cost of Revenue	106	79	40	31	41	115	161	40	202	-403	243
Total Operating Expenses	102	121	115	102	92	99	89	121	102	650	108
Selling, General & Admin Expense	20	24	22	72	69	23	63	68	68	121	77
Depreciation Expense	33	25	23	30	23	23	22	26	32	32	31
Other Operating Expenses / (Income)	49	72	71	0.00	-	53	3.68	28	2.22	466	0.00
Total Other Income / (Expense), net	-13	-12	-10	-9.18	-8.04	-8.53	-7.57	-17	-24	-23	-23
Interest Expense	18	17	16	15	15	15	14	24	28	28	28
Interest & Investment Income	-0.55	0.63	0.53	0.59	0.56	0.56	0.60	0.60	0.50	0.64	0.60
Other Income / (Expense), net	5.26	4.16	4.96	5.71	6.53	5.72	6.15	6.29	3.40	4.19	4.48
Income Tax Expense	8.19	7.74	6.90	7.43	6.16	5.61	6.03	5.57	7.94	8.36	9.46
Net Income / (Loss) Attributable to Noncontrolling Interest	33	16	22	27	37	35	41	16	41	30	38
Basic Earnings per Share	$0.53	$0.14	$0.24	$0.27	$0.36	$0.42	$0.48	$0.15	$0.44	$0.24	$0.38
Weighted Average Basic Shares Outstanding	26.25M	26.26M	26.16M	25.18M	25.01M	25.40M	23.90M	31.49M	32.00M	29.88M	32.08M
Diluted Earnings per Share	$0.40	$0.22	$0.24	$0.26	$0.35	$0.42	$0.46	$0.15	$0.43	$0.24	$0.37
Weighted Average Diluted Shares Outstanding	108.30M	108.30M	26.18M	25.34M	25.47M	25.84M	106.75M	32.16M	32.69M	30.62M	32.98M
Weighted Average Basic & Diluted Shares Outstanding	108.28M	108.28M	107.13M	107.07M	106.28M	105.89M	114.02M	114.02M	114.03M	114.07M	113.86M

This table details how cash moves in and out of Excelerate Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	36	476	447	34	-18	2.02
Net Cash From Operating Activities	109	142	225	232	244	461
Net Cash From Continuing Operating Activities	109	636	225	232	244	461
Net Income / (Loss) Continuing Operations	33	41	80	127	153	167
Consolidated Net Income / (Loss)	33	41	80	127	153	167
Depreciation Expense	104	105	97	114	99	111
Amortization Expense	14	25	34	21	5.40	23
Non-Cash Adjustments To Reconcile Net Income	7.05	-14	38	23	34	59
Changes in Operating Assets and Liabilities, net	-49	479	-25	-53	-47	101
Net Cash From Investing Activities	-41	-36	-119	-309	-113	-1,182
Net Cash From Continuing Investing Activities	-41	-36	-119	-309	-113	-1,182
Purchase of Property, Plant & Equipment	-41	-36	-119	-313	-113	-163
Acquisitions	-	-	-	0.00	0.00	-1,019
Sale of Property, Plant & Equipment	0.00	0.00	0.00	4.10	0.00	0.00
Net Cash From Financing Activities	-31	-124	341	111	-149	723
Net Cash From Continuing Financing Activities	-31	-124	341	111	-149	723
Repayment of Debt	-44	-113	-813	-99	-52	-217
Repurchase of Common Equity	-	-	0.00	0.00	-50	0.00
Payment of Dividends	-7.59	0.00	-5.41	-19	-26	-38
Issuance of Debt	63	-82	794	250	0.00	800
Issuance of Common Equity	0.00	0.00	412	0.00	0.00	202
Other Financing Activities, net	-43	71	-46	-21	-21	-23
Effect of Exchange Rate Changes	-	-	0.00	-0.12	-0.12	0.09

This table details how cash moves in and out of Excelerate Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	142	-54	24	29	0.34	-72	83	-194	38	75	3.09
Net Cash From Operating Activities	171	37	65	90	40	50	155	87	115	104	60
Net Cash From Continuing Operating Activities	171	37	65	90	40	50	155	87	115	104	60
Net Income / (Loss) Continuing Operations	47	20	28	33	46	46	52	21	55	39	50
Consolidated Net Income / (Loss)	47	20	28	33	46	46	52	21	55	39	50
Depreciation Expense	33	25	23	30	23	23	22	26	32	32	31
Amortization Expense	3.22	4.16	1.31	1.27	0.98	1.84	1.14	6.65	7.41	7.56	7.80
Non-Cash Adjustments To Reconcile Net Income	10	2.75	5.09	5.96	11	12	14	14	15	17	16
Changes in Operating Assets and Liabilities, net	78	-16	7.21	19	-41	-33	66	20	5.86	8.67	-44
Net Cash From Investing Activities	-12	-8.31	-13	-25	-11	-64	-44	-1,081	-52	-4.95	-26
Net Cash From Continuing Investing Activities	-12	-8.31	-13	-25	-11	-64	-44	-1,081	-52	-4.95	-26
Purchase of Property, Plant & Equipment	-12	-8.31	-13	-25	-11	-64	-44	-33	-52	-34	-26
Acquisitions	-	-	-	-	-	-	0.00	-	-	29	0.00
Net Cash From Financing Activities	-17	-82	-28	-35	-28	-58	-28	801	-25	-25	-31
Net Cash From Continuing Financing Activities	-17	-82	-28	-35	-28	-58	-28	801	-25	-25	-31
Repayment of Debt	-12	-69	-12	-13	-14	-15	-14	-185	-8.56	-9.14	-7.94
Repurchase of Common Equity	-	-	-8.42	-12	-6.89	-23	0.00	-	-	-	-4.48
Payment of Dividends	-2.71	-8.68	-2.70	-5.12	-2.84	-15	-7.21	-10	-11	-9.87	-9.96
Issuance of Debt	-	-	-	-	-	-	0.00	-	-	-	0.00
Other Financing Activities, net	-2.46	-4.66	-5.00	-5.06	-4.64	-4.93	-6.00	-5.74	-5.50	-5.70	-8.44
Effect of Exchange Rate Changes	0.06	-0.08	0.04	-0.04	-0.05	-0.07	0.07	0.02	-0.00	-	0.20

This table presents Excelerate Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,501	2,867	2,860	2,883	4,131
Total Current Assets	490	824	700	754	753
Cash & Equivalents	73	517	556	538	538
Restricted Cash	2.50	2.61	2.66	2.61	3.24
Short-Term Investments	12	13	16	43	39
Accounts Receivable	272	82	97	120	83
Other Current Assets	26	35	27	51	90
Plant, Property, & Equipment, net	1,433	1,456	1,650	1,623	2,132
Total Noncurrent Assets	577	588	511	506	1,246
Long-Term Investments	435	424	405	396	356
Goodwill	-	-	-	0.00	235
Intangible Assets	-	-	-	0.00	359
Noncurrent Deferred & Refundable Income Taxes	0.94	40	43	28	25
Other Noncurrent Operating Assets	141	124	63	82	271
Total Liabilities & Shareholders' Equity	2,501	2,867	2,860	2,883	4,131
Total Liabilities	1,497	1,170	1,051	995	1,902
Total Current Liabilities	520	392	204	216	310
Short-Term Debt	26	29	51	56	34
Accounts Payable	312	97	14	7.14	47
Accrued Expenses	105	67	90	70	123
Current Deferred Revenue	9.65	145	27	58	57
Other Current Liabilities	68	54	22	25	49
Total Noncurrent Liabilities	977	779	847	779	1,592
Long-Term Debt	406	193	333	287	1,064
Asset Retirement Reserve & Litigation Obligation	35	40	42	44	63
Noncurrent Deferred Revenue	14	-	29	28	29
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	0.00	65
Other Noncurrent Operating Liabilities	522	545	443	420	371
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,004	1,697	1,809	1,889	2,229
Total Preferred & Common Equity	-16	477	505	488	682
Total Common Equity	-16	477	505	488	682
Common Stock	0.00	465	466	468	635
Retained Earnings	0.00	12	40	72	103
Treasury Stock	-	0.00	-0.47	-52	-55
Accumulated Other Comprehensive Income / (Loss)	-9.18	0.52	0.51	0.50	-0.11
Noncontrolling Interest	1,150	1,219	1,304	1,401	1,547

This table presents Excelerate Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,981	3,001	2,900	2,904	2,858	2,867	2,864	2,917	4,010	4,097	4,135
Total Current Assets	956	762	689	717	694	704	764	780	609	695	767
Cash & Equivalents	346	530	462	603	579	609	608	619	426	463	540
Restricted Cash	3.46	3.56	2.64	3.58	3.61	2.65	3.63	3.55	3.25	4.22	4.19
Short-Term Investments	-	14	14	15	18	19	43	44	45	44	34
Accounts Receivable	326	58	146	45	66	46	82	86	79	119	93
Other Current Assets	20	24	37	33	27	27	28	27	56	65	96
Plant, Property, & Equipment, net	1,418	1,706	1,686	1,664	1,650	1,655	1,586	1,650	2,099	2,130	2,130
Total Noncurrent Assets	608	533	525	524	514	509	515	488	1,302	1,273	1,238
Long-Term Investments	21	420	417	408	399	395	408	385	374	365	350
Goodwill	-	-	-	-	-	-	-	-	249	245	238
Intangible Assets	-	-	-	-	-	-	-	-	365	363	355
Noncurrent Deferred & Refundable Income Taxes	51	39	38	43	42	39	35	27	31	27	24
Other Noncurrent Operating Assets	132	73	70	73	73	75	72	76	282	272	270
Total Liabilities & Shareholders' Equity	2,981	3,001	2,900	2,904	2,858	2,867	2,864	2,917	4,010	4,097	4,135
Total Liabilities	1,332	1,276	1,145	1,101	1,029	1,019	982	986	1,861	1,902	1,880
Total Current Liabilities	537	310	194	173	197	205	185	233	234	291	295
Short-Term Debt	21	29	38	49	53	55	55	56	29	33	34
Accounts Payable	368	11	47	11	7.30	8.25	8.60	48	21	51	8.23
Accrued Expenses	74	55	60	63	94	90	69	74	102	126	161
Current Deferred Revenue	14	162	22	24	21	30	29	31	35	33	42
Other Current Liabilities	52	54	100	26	24	23	23	24	47	48	50
Total Noncurrent Liabilities	489	966	879	928	837	814	796	752	1,627	1,610	1,584
Long-Term Debt	199	367	597	574	323	477	464	435	1,083	1,073	1,057
Asset Retirement Reserve & Litigation Obligation	-	40	41	41	42	43	43	44	50	62	64
Noncurrent Deferred Revenue	-	34	35	-	-	-	-	28	27	27	29
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	-	-	65
Other Noncurrent Operating Liabilities	290	525	206	313	472	294	290	246	466	448	370
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,650	1,724	1,755	1,803	1,828	1,849	1,883	1,932	2,149	2,195	2,255
Total Preferred & Common Equity	588	483	490	504	502	499	502	499	664	676	691
Total Common Equity	588	483	490	504	502	499	502	499	664	676	691
Common Stock	584	465	465	465	466	469	473	472	634	634	650
Retained Earnings	4.09	18	23	37	45	51	60	82	85	96	112
Treasury Stock	-	-	0.00	-0.47	-11	-22	-30	-55	-55	-55	-70
Accumulated Other Comprehensive Income / (Loss)	0.14	0.21	1.26	2.09	1.05	1.09	-0.38	0.09	0.11	-0.02	-1.01
Noncontrolling Interest	1,061	1,241	1,265	1,299	1,327	1,350	1,380	1,433	1,485	1,520	1,564

This table displays calculated financial ratios and metrics derived from Excelerate Energy's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	114,030,970.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	114,030,970.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	0.34
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	178.31%	-53.13%	-26.53%	44.26%
EBITDA Growth	0.00%	1,035.63%	18.16%	13.46%	-5.34%	22.95%
EBIT Growth	0.00%	195.05%	33.66%	20.97%	5.17%	20.51%
NOPAT Growth	0.00%	189.38%	49.79%	21.03%	10.07%	24.42%
Net Income Growth	0.00%	116.44%	94.22%	58.56%	20.65%	9.14%
EPS Growth	0.00%	0.00%	0.00%	117.65%	14.41%	0.79%
Operating Cash Flow Growth	0.00%	29.96%	58.95%	3.02%	5.41%	88.68%
Free Cash Flow Firm Growth	0.00%	0.00%	110.85%	-195.47%	271.98%	-619.39%
Invested Capital Growth	0.00%	0.00%	5.34%	26.19%	3.08%	78.98%
Revenue Q/Q Growth	0.00%	0.00%	40.11%	-41.04%	4.22%	3.63%
EBITDA Q/Q Growth	0.00%	0.00%	59.83%	-21.98%	5.23%	6.09%
EBIT Q/Q Growth	0.00%	0.00%	174.04%	-30.11%	10.15%	3.10%
NOPAT Q/Q Growth	0.00%	0.00%	169.52%	-35.31%	15.34%	1.96%
Net Income Q/Q Growth	0.00%	0.00%	330.55%	-42.27%	20.49%	-4.01%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-2.63%	18.69%	-12.33%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	4,849.74%	-46.83%	5.62%	13.48%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-112.92%	-32.60%	11.92%
Invested Capital Q/Q Growth	0.00%	0.00%	-46.48%	-13.11%	-6.57%	-7.68%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	0.00%	56.05%	22.90%	55.27%	73.25%	100.00%
EBITDA Margin	0.00%	30.35%	12.89%	31.20%	40.20%	34.26%
Operating Margin	0.00%	15.68%	7.55%	18.17%	25.25%	21.71%
EBIT Margin	0.00%	15.75%	7.56%	19.52%	27.94%	23.34%
Profit (Net Income) Margin	0.00%	4.64%	3.23%	10.94%	17.97%	13.60%
Tax Burden Percent	105.89%	66.05%	73.85%	79.23%	85.43%	85.69%
Interest Burden Percent	160.75%	44.57%	57.93%	70.77%	75.30%	67.98%
Effective Tax Rate	0.00%	33.95%	26.15%	20.77%	14.57%	14.31%
Return on Invested Capital (ROIC)	0.00%	20.16%	14.70%	15.34%	14.90%	13.09%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	132.25%	28.73%	21.36%	19.87%	32.72%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-11.95%	-8.78%	-8.10%	-6.62%	-4.98%
Return on Equity (ROE)	0.00%	8.21%	5.92%	7.24%	8.28%	8.11%
Cash Return on Invested Capital (CROIC)	0.00%	-179.84%	9.50%	-7.82%	11.87%	-43.53%
Operating Return on Assets (OROA)	0.00%	5.59%	6.97%	7.90%	8.28%	8.17%
Return on Assets (ROA)	0.00%	1.65%	2.98%	4.43%	5.33%	4.76%
Return on Common Equity (ROCE)	0.00%	-0.13%	1.01%	2.03%	2.22%	2.31%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-258.45%	16.76%	25.10%	31.36%	0.00%
Net Operating Profit after Tax (NOPAT)	-103	92	138	167	184	229
NOPAT Margin	0.00%	10.36%	5.58%	14.40%	21.57%	18.61%
Net Nonoperating Expense Percent (NNEP)	0.00%	-112.09%	-14.02%	-6.02%	-4.97%	-19.63%
Return On Investment Capital (ROIC_SIMPLE)	-	-	7.19%	7.61%	8.23%	7.20%
Cost of Revenue to Revenue	0.00%	43.95%	77.10%	44.73%	26.75%	0.00%
SG&A Expenses to Revenue	0.00%	5.30%	2.67%	7.55%	11.06%	22.65%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	40.37%	15.35%	37.10%	48.00%	78.29%
Earnings before Interest and Taxes (EBIT)	-147	140	187	226	238	287
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-29	270	319	362	342	421
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.62	3.29	6.59	4.69
Price to Tangible Book Value (P/TBV)	0.00	0.00	5.62	3.29	6.59	36.24
Price to Revenue (P/Rev)	0.00	0.43	1.08	1.44	3.78	2.60
Price to Earnings (P/E)	0.00	0.00	201.29	54.70	97.79	81.60
Dividend Yield	0.00%	0.00%	0.20%	0.65%	0.45%	1.00%
Earnings Yield	0.00%	0.00%	0.50%	1.83%	1.02%	1.23%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.58	3.29	1.95	3.18	2.12
Enterprise Value to Revenue (EV/Rev)	0.00	1.62	1.28	2.05	4.67	3.87
Enterprise Value to EBITDA (EV/EBITDA)	0.00	5.35	9.94	6.56	11.62	11.30
Enterprise Value to EBIT (EV/EBIT)	0.00	10.32	16.93	10.49	16.72	16.59
Enterprise Value to NOPAT (EV/NOPAT)	0.00	15.68	22.97	14.22	21.66	20.81
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	10.19	14.07	10.23	16.28	10.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	35.54	0.00	27.20	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.43	0.13	0.21	0.18	0.42
Long-Term Debt to Equity	0.00	0.40	0.11	0.18	0.15	0.41
Financial Leverage	0.00	-0.09	-0.31	-0.38	-0.33	-0.15
Leverage Ratio	0.00	2.49	1.99	1.63	1.55	1.70
Compound Leverage Factor	0.00	1.11	1.15	1.16	1.17	1.16
Debt to Total Capital	0.00%	30.07%	11.57%	17.52%	15.35%	29.81%
Short-Term Debt to Total Capital	0.00%	1.82%	1.49%	2.32%	2.50%	1.07%
Long-Term Debt to Total Capital	0.00%	28.25%	10.08%	15.20%	12.85%	28.74%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	80.11%	63.55%	59.44%	62.78%	48.70%
Common Equity to Total Capital	0.00%	-1.11%	24.88%	23.04%	21.87%	21.49%
Debt to EBITDA	0.00	1.60	0.70	1.06	1.00	2.25
Net Debt to EBITDA	0.00	-0.34	-2.31	-1.65	-1.86	0.02
Long-Term Debt to EBITDA	0.00	1.50	0.61	0.92	0.84	2.17
Debt to NOPAT	0.00	4.69	1.61	2.30	1.86	4.14
Net Debt to NOPAT	0.00	-0.99	-5.33	-3.57	-3.47	0.05
Long-Term Debt to NOPAT	0.00	4.41	1.40	2.00	1.56	3.99
Altman Z-Score	0.00	0.68	2.64	1.84	2.77	1.70
Noncontrolling Interest Sharing Ratio	0.00%	101.59%	82.91%	71.97%	73.13%	71.57%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	0.94	2.10	3.43	3.49	2.43
Quick Ratio	0.00	0.69	1.56	3.29	3.24	2.13
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-821	89	-85	146	-760
Operating Cash Flow to CapEx	264.10%	392.38%	188.73%	75.13%	215.83%	282.98%
Free Cash Flow to Firm to Interest Expense	0.00	-10.16	1.50	-1.27	2.40	-8.07
Operating Cash Flow to Interest Expense	1.22	1.75	3.78	3.46	4.01	4.90
Operating Cash Flow Less CapEx to Interest Expense	0.76	1.31	1.78	-1.15	2.15	3.17
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.36	0.92	0.40	0.30	0.35
Accounts Receivable Turnover	0.00	3.27	13.97	12.91	7.84	12.12
Inventory Turnover	0.00	3.72	13.69	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.62	1.71	0.75	0.52	0.65
Accounts Payable Turnover	0.00	1.25	9.34	9.38	21.80	0.00
Days Sales Outstanding (DSO)	0.00	111.60	26.12	28.28	46.57	30.11
Days Inventory Outstanding (DIO)	0.00	98.16	26.67	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	291.23	39.09	38.93	16.74	0.00
Cash Conversion Cycle (CCC)	0.00	-81.47	13.70	-10.65	29.82	30.11
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	913	962	1,214	1,251	2,240
Invested Capital Turnover	0.00	1.95	2.64	1.07	0.69	0.70
Increase / (Decrease) in Invested Capital	0.00	913	49	252	37	988
Enterprise Value (EV)	0.00	1,443	3,166	2,372	3,978	4,756
Market Capitalization	384	384	2,682	1,664	3,215	3,199
Book Value per Share	$0.00	($1.00)	$4.41	$4.67	$4.59	$5.99
Tangible Book Value per Share	$0.00	($1.00)	$4.41	$4.67	$4.59	$0.77
Total Capital	0.00	1,436	1,919	2,194	2,231	3,176
Total Debt	0.00	432	222	384	342	947
Total Long-Term Debt	0.00	406	193	333	287	913
Net Debt	0.00	-91	-735	-595	-637	10
Capital Expenditures (CapEx)	41	36	119	309	113	163
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-91	-72	-28	10	-103
Debt-free Net Working Capital (DFNWC)	0.00	-3.63	461	547	594	477
Net Working Capital (NWC)	0.00	-30	432	496	538	443
Net Nonoperating Expense (NNE)	148	51	58	40	31	62
Net Nonoperating Obligations (NNO)	0.00	-91	-735	-595	-637	10
Total Depreciation and Amortization (D&A)	118	130	132	135	104	134
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-10.26%	-2.91%	-2.43%	1.21%	-8.39%
Debt-free Net Working Capital to Revenue	0.00%	-0.41%	18.63%	47.18%	69.75%	38.86%
Net Working Capital to Revenue	0.00%	-3.35%	17.47%	42.78%	63.21%	36.09%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.51	$1.16	$1.29	$1.31
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	26.25M	26.26M	25.40M	29.88M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.51	$1.11	$1.27	$1.28
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	26.26M	108.30M	25.84M	30.62M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	108.28M	108.28M	105.89M	114.07M
Normalized Net Operating Profit after Tax (NOPAT)	-103	101	143	167	184	258
Normalized NOPAT Margin	0.00%	11.40%	5.78%	14.40%	21.57%	20.99%
Pre Tax Income Margin	0.00%	7.02%	4.38%	13.81%	21.04%	15.87%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-1.65	1.73	3.14	3.38	3.90	3.05
NOPAT to Interest Expense	-1.15	1.14	2.32	2.49	3.01	2.43
EBIT Less CapEx to Interest Expense	-2.11	1.28	1.14	-1.23	2.04	1.31
NOPAT Less CapEx to Interest Expense	-1.61	0.69	0.31	-2.12	1.15	0.70
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	-3.03%	0.00%	6.77%	14.82%	16.92%	22.93%
Augmented Payout Ratio	-3.03%	0.00%	6.77%	14.82%	49.60%	22.93%

This table displays calculated financial ratios and metrics derived from Excelerate Energy's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	114,030,970.00	114,066,900.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	114,030,970.00	114,066,900.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.08	0.11
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-65.71%	-77.07%	-5.18%	-57.60%	-29.79%	14.37%	57.46%	11.58%	102.17%	15.66%	37.56%
EBITDA Growth	29.39%	-58.13%	-16.89%	-2.62%	-17.29%	23.17%	27.34%	-6.21%	43.77%	26.71%	32.32%
EBIT Growth	43.88%	-68.88%	-6.28%	-0.64%	-8.93%	49.79%	43.41%	-10.64%	36.75%	13.06%	20.28%
NOPAT Growth	15.71%	-75.87%	-8.74%	0.93%	-8.31%	86.70%	62.43%	-16.12%	44.86%	8.00%	17.00%
Net Income Growth	24.77%	-82.25%	-8.46%	12.59%	-2.06%	129.85%	85.23%	-37.60%	20.85%	-15.16%	-4.12%
EPS Growth	17.65%	-12.00%	-7.69%	13.04%	-12.50%	90.91%	91.67%	-42.31%	22.86%	-42.86%	-19.57%
Operating Cash Flow Growth	2,820.97%	-84.80%	38.17%	504.96%	-76.71%	35.53%	139.42%	-3.58%	188.78%	110.38%	-61.23%
Free Cash Flow Firm Growth	126.19%	-417.23%	92.65%	-32.39%	-75.88%	107.29%	-1,125.91%	-673.54%	-1,015.17%	-5,815.10%	-756.56%
Invested Capital Growth	-22.28%	26.19%	3.96%	-9.23%	-4.14%	3.08%	14.45%	78.07%	81.14%	78.98%	76.36%
Revenue Q/Q Growth	-36.29%	-12.85%	-16.64%	-8.39%	5.50%	41.96%	14.76%	-35.08%	91.17%	-18.79%	36.48%
EBITDA Q/Q Growth	21.81%	-32.77%	1.30%	17.39%	3.46%	0.11%	4.73%	-13.54%	58.60%	-11.77%	9.37%
EBIT Q/Q Growth	30.05%	-39.50%	13.85%	10.92%	19.21%	-0.49%	8.99%	-30.89%	82.44%	-17.73%	15.95%
NOPAT Q/Q Growth	42.05%	-49.91%	26.14%	12.45%	29.05%	2.00%	9.74%	-41.93%	122.86%	-23.95%	18.89%
Net Income Q/Q Growth	57.35%	-56.90%	40.39%	18.26%	36.87%	1.15%	13.14%	-60.16%	165.08%	-28.99%	27.87%
EPS Q/Q Growth	73.91%	-45.00%	9.09%	8.33%	34.62%	20.00%	9.52%	-67.39%	186.67%	-44.19%	54.17%
Operating Cash Flow Q/Q Growth	865.28%	-78.56%	76.62%	39.77%	-55.99%	24.74%	212.00%	-43.71%	31.82%	-9.13%	-42.50%
Free Cash Flow Firm Q/Q Growth	73.38%	-148.75%	95.83%	2,017.67%	-38.15%	-85.26%	-801.14%	-797.17%	1.31%	7.94%	-5.08%
Invested Capital Q/Q Growth	-6.44%	-13.11%	-1.35%	13.18%	-1.19%	-6.57%	9.53%	76.10%	0.51%	-7.68%	7.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.48%	66.92%	80.07%	83.00%	78.60%	58.01%	48.98%	80.24%	48.37%	226.92%	43.93%
EBITDA Margin	39.62%	30.57%	37.15%	47.59%	46.67%	32.92%	30.04%	40.01%	33.19%	36.06%	28.90%
Operating Margin	24.50%	16.60%	22.57%	27.21%	30.89%	21.93%	20.86%	21.21%	22.30%	22.16%	18.91%
EBIT Margin	26.41%	18.34%	25.04%	30.32%	34.26%	24.02%	22.81%	24.28%	23.17%	23.48%	19.94%
Profit (Net Income) Margin	16.88%	8.35%	14.06%	18.15%	23.55%	16.78%	16.54%	10.15%	14.08%	12.31%	11.53%
Tax Burden Percent	85.03%	72.13%	80.31%	81.75%	88.09%	89.14%	89.64%	78.84%	87.40%	82.39%	84.08%
Interest Burden Percent	75.17%	63.12%	69.92%	73.22%	78.03%	78.38%	80.91%	53.03%	69.50%	63.64%	68.76%
Effective Tax Rate	14.97%	27.87%	19.69%	18.25%	11.91%	10.86%	10.36%	21.16%	12.60%	17.61%	15.92%
Return on Invested Capital (ROIC)	25.64%	12.76%	17.71%	14.04%	16.25%	13.50%	14.07%	8.76%	12.27%	12.85%	11.31%
ROIC Less NNEP Spread (ROIC-NNEP)	34.07%	14.07%	19.06%	16.03%	17.74%	14.74%	15.21%	20.49%	25.81%	18.87%	20.80%
Return on Net Nonoperating Assets (RNNOA)	-2.55%	-5.34%	-6.45%	-3.36%	-4.57%	-4.91%	-4.82%	-1.17%	-1.98%	-2.87%	-1.98%
Return on Equity (ROE)	23.09%	7.42%	11.26%	10.68%	11.68%	8.59%	9.25%	7.59%	10.29%	9.97%	9.32%
Cash Return on Invested Capital (CROIC)	41.22%	-7.82%	10.03%	21.16%	15.86%	11.87%	2.58%	-45.51%	-45.82%	-43.53%	-42.70%
Operating Return on Assets (OROA)	17.64%	7.42%	9.82%	9.45%	9.70%	7.12%	7.63%	6.97%	7.89%	8.22%	7.62%
Return on Assets (ROA)	11.28%	3.38%	5.51%	5.66%	6.67%	4.97%	5.54%	2.92%	4.79%	4.31%	4.40%
Return on Common Equity (ROCE)	7.30%	2.08%	3.12%	2.93%	3.19%	2.31%	2.46%	2.21%	2.97%	2.84%	2.65%
Return on Equity Simple (ROE_SIMPLE)	43.61%	0.00%	24.77%	25.65%	25.29%	0.00%	35.46%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	57	29	36	41	53	54	59	34	76	58	69
NOPAT Margin	20.83%	11.98%	18.12%	22.24%	27.21%	19.55%	18.69%	16.72%	19.49%	18.25%	15.90%
Net Nonoperating Expense Percent (NNEP)	-8.43%	-1.31%	-1.35%	-1.99%	-1.49%	-1.23%	-1.14%	-11.72%	-13.54%	-6.03%	-9.49%
Return On Investment Capital (ROIC_SIMPLE)	-	1.31%	-	-	-	2.41%	2.43%	1.05%	2.31%	1.83%	2.06%
Cost of Revenue to Revenue	38.52%	33.08%	19.93%	17.00%	21.40%	41.99%	51.02%	19.76%	51.63%	-126.92%	56.07%
SG&A Expenses to Revenue	7.08%	10.03%	10.77%	13.80%	12.31%	8.55%	6.78%	33.03%	17.38%	38.20%	17.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.98%	50.32%	57.51%	55.79%	47.71%	36.08%	28.12%	59.03%	26.07%	204.76%	25.02%
Earnings before Interest and Taxes (EBIT)	73	44	50	56	66	66	72	50	91	75	86
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	109	73	74	87	90	90	95	82	130	115	125
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.64	3.29	3.45	3.96	4.69	6.59	6.08	5.03	4.25	4.69	5.52
Price to Tangible Book Value (P/TBV)	3.64	3.29	3.45	3.96	4.69	6.59	6.08	67.51	42.46	36.24	39.17
Price to Revenue (P/Rev)	0.93	1.44	1.51	2.20	2.88	3.78	3.14	3.38	2.42	2.60	2.83
Price to Earnings (P/E)	18.65	54.70	57.95	64.56	91.85	97.79	80.04	92.87	70.06	81.60	94.99
Dividend Yield	0.59%	0.65%	0.78%	0.54%	0.45%	0.45%	0.59%	0.70%	1.03%	1.00%	0.90%
Earnings Yield	5.36%	1.83%	1.73%	1.55%	1.09%	1.02%	1.25%	1.08%	1.43%	1.23%	1.05%
Enterprise Value to Invested Capital (EV/IC)	1.95	1.95	2.03	2.09	2.38	3.18	2.85	2.11	1.91	2.12	2.29
Enterprise Value to Revenue (EV/Rev)	1.39	2.05	2.12	3.15	3.91	4.67	4.04	5.16	3.90	3.87	4.11
Enterprise Value to EBITDA (EV/EBITDA)	5.89	6.56	7.03	8.23	9.82	11.62	10.78	14.26	11.65	11.30	12.27
Enterprise Value to EBIT (EV/EBIT)	8.43	10.49	10.93	12.73	14.79	16.72	15.05	20.07	16.62	16.59	18.38
Enterprise Value to NOPAT (EV/NOPAT)	10.58	14.22	14.90	17.30	20.06	21.66	18.96	25.39	20.62	20.81	23.29
Enterprise Value to Operating Cash Flow (EV/OCF)	6.25	10.23	9.75	7.81	13.80	16.28	11.68	15.37	11.37	10.31	15.11
Enterprise Value to Free Cash Flow (EV/FCFF)	4.14	0.00	20.66	9.39	14.72	27.20	117.94	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.35	0.21	0.21	0.29	0.28	0.18	0.25	0.52	0.50	0.42	0.48
Long-Term Debt to Equity	0.32	0.18	0.18	0.26	0.25	0.15	0.23	0.50	0.49	0.41	0.47
Financial Leverage	-0.07	-0.38	-0.34	-0.21	-0.26	-0.33	-0.32	-0.06	-0.08	-0.15	-0.10
Leverage Ratio	1.70	1.63	1.65	1.60	1.57	1.55	1.54	1.72	1.71	1.70	1.68
Compound Leverage Factor	1.28	1.03	1.15	1.17	1.22	1.22	1.24	0.91	1.19	1.08	1.16
Debt to Total Capital	25.68%	17.52%	17.04%	22.35%	21.61%	15.35%	20.27%	34.10%	33.49%	29.81%	32.60%
Short-Term Debt to Total Capital	2.01%	2.32%	2.40%	2.30%	2.30%	2.50%	2.32%	0.90%	0.99%	1.07%	1.00%
Long-Term Debt to Total Capital	23.67%	15.20%	14.64%	20.04%	19.31%	12.85%	17.96%	33.20%	32.50%	28.74%	31.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	53.56%	59.44%	60.20%	56.70%	57.48%	62.78%	59.12%	45.54%	46.04%	48.70%	46.75%
Common Equity to Total Capital	20.76%	23.04%	22.76%	20.96%	20.91%	21.87%	20.60%	20.36%	20.47%	21.49%	20.66%
Debt to EBITDA	1.34	1.06	1.08	1.55	1.60	1.00	1.35	3.11	2.79	2.25	2.42
Net Debt to EBITDA	-0.88	-1.65	-1.80	-1.43	-1.67	-1.86	-1.55	0.74	0.58	0.02	0.36
Long-Term Debt to EBITDA	1.24	0.92	0.93	1.39	1.43	0.84	1.20	3.03	2.71	2.17	2.34
Debt to NOPAT	2.42	2.30	2.30	3.25	3.26	1.86	2.38	5.55	4.93	4.14	4.59
Net Debt to NOPAT	-1.57	-3.57	-3.82	-3.01	-3.41	-3.47	-2.72	1.32	1.03	0.05	0.68
Long-Term Debt to NOPAT	2.23	2.00	1.97	2.91	2.91	1.56	2.11	5.40	4.79	3.99	4.45
Altman Z-Score	2.00	1.63	1.70	1.77	2.07	2.57	2.53	1.51	1.42	1.53	1.79
Noncontrolling Interest Sharing Ratio	68.37%	71.97%	72.28%	72.56%	72.71%	73.13%	73.38%	70.91%	71.12%	71.57%	71.57%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.15	3.43	3.52	3.43	4.12	3.49	3.34	2.60	2.39	2.43	2.60
Quick Ratio	3.84	3.29	3.37	3.29	3.95	3.24	3.21	2.35	2.15	2.13	2.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	458	-223	-9.31	179	110	16	-114	-1,024	-1,010	-930	-978
Operating Cash Flow to CapEx	1,467.56%	440.62%	506.39%	354.44%	347.77%	78.08%	350.86%	261.80%	221.06%	310.56%	228.10%
Free Cash Flow to Firm to Interest Expense	26.13	-13.24	-0.60	11.54	7.30	1.10	-7.97	-42.78	-35.92	-33.52	-35.41
Operating Cash Flow to Interest Expense	9.75	2.17	4.14	5.84	2.63	3.35	10.81	3.64	4.08	3.76	2.17
Operating Cash Flow Less CapEx to Interest Expense	9.09	1.68	3.33	4.19	1.87	-0.94	7.73	2.25	2.24	2.55	1.22
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.40	0.39	0.31	0.28	0.30	0.33	0.29	0.34	0.35	0.38
Accounts Receivable Turnover	10.60	12.91	18.49	9.39	12.94	7.84	12.71	15.85	11.80	12.12	15.10
Inventory Turnover	9.14	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.28	0.75	0.68	0.54	0.50	0.52	0.59	0.53	0.64	0.65	0.71
Accounts Payable Turnover	6.35	9.38	54.03	9.29	19.75	21.80	12.55	24.82	17.36	0.00	2.91
Days Sales Outstanding (DSO)	34.45	28.28	19.74	38.85	28.21	46.57	28.72	23.03	30.93	30.11	24.18
Days Inventory Outstanding (DIO)	39.93	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	57.45	38.93	6.76	39.29	18.48	16.74	29.09	14.70	21.03	0.00	125.31
Cash Conversion Cycle (CCC)	16.92	-10.65	12.99	-0.44	9.73	29.82	-0.37	8.32	9.90	30.11	-101.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,397	1,214	1,198	1,355	1,339	1,251	1,371	2,414	2,426	2,240	2,417
Invested Capital Turnover	1.23	1.07	0.98	0.63	0.60	0.69	0.75	0.52	0.63	0.70	0.71
Increase / (Decrease) in Invested Capital	-400	252	46	-138	-58	37	173	1,058	1,087	988	1,046
Enterprise Value (EV)	2,728	2,372	2,435	2,832	3,194	3,978	3,908	5,092	4,622	4,756	5,538
Market Capitalization	1,835	1,664	1,732	1,975	2,357	3,215	3,037	3,343	2,872	3,199	3,812
Book Value per Share	$4.65	$4.67	$4.63	$4.66	$4.69	$4.59	$4.71	$5.82	$5.93	$5.99	$6.06
Tangible Book Value per Share	$4.65	$4.67	$4.63	$4.66	$4.69	$4.59	$4.71	$0.43	$0.59	$0.77	$0.85
Total Capital	2,426	2,194	2,204	2,381	2,402	2,231	2,423	3,262	3,301	3,176	3,346
Total Debt	623	384	375	532	519	342	491	1,112	1,106	947	1,091
Total Long-Term Debt	574	333	323	477	464	287	435	1,083	1,073	913	1,057
Net Debt	-406	-595	-624	-493	-543	-637	-561	264	231	10	162
Capital Expenditures (CapEx)	12	8.31	13	25	11	64	44	33	52	34	26
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-28	-28	-51	-77	-21	10	-65	-70	-74	-103	-73
Debt-free Net Working Capital (DFNWC)	593	547	550	554	634	594	603	405	436	477	505
Net Working Capital (NWC)	544	496	497	499	579	538	547	375	404	443	472
Net Nonoperating Expense (NNE)	11	8.71	8.13	7.50	7.08	7.61	6.78	13	21	19	19
Net Nonoperating Obligations (NNO)	-406	-595	-631	-493	-543	-637	-561	264	231	10	162
Total Depreciation and Amortization (D&A)	36	29	24	32	24	24	23	32	39	40	39
Debt-free, Cash-free Net Working Capital to Revenue	-1.43%	-2.43%	-4.44%	-8.56%	-2.54%	1.21%	-6.70%	-7.07%	-6.25%	-8.39%	-5.44%
Debt-free Net Working Capital to Revenue	30.17%	47.18%	47.87%	61.58%	77.60%	69.75%	62.36%	40.98%	36.81%	38.86%	37.53%
Net Working Capital to Revenue	27.68%	42.78%	43.26%	55.48%	70.84%	63.21%	56.55%	38.01%	34.05%	36.09%	35.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.53	$0.14	$0.24	$0.27	$0.36	$0.42	$0.48	$0.15	$0.44	$0.24	$0.38
Adjusted Weighted Average Basic Shares Outstanding	26.25M	26.26M	26.16M	25.18M	25.01M	25.40M	23.90M	31.49M	32.00M	29.88M	32.08M
Adjusted Diluted Earnings per Share	$0.40	$0.22	$0.24	$0.26	$0.35	$0.42	$0.46	$0.15	$0.43	$0.24	$0.37
Adjusted Weighted Average Diluted Shares Outstanding	108.30M	108.30M	26.18M	25.34M	25.47M	25.84M	106.75M	32.16M	32.69M	30.62M	32.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	108.28M	108.28M	107.13M	107.07M	106.28M	105.89M	114.02M	114.02M	114.03M	114.07M	113.86M
Normalized Net Operating Profit after Tax (NOPAT)	57	29	36	41	53	54	62	34	76	58	69
Normalized NOPAT Margin	20.83%	11.98%	18.12%	22.24%	27.21%	19.55%	19.74%	16.72%	19.49%	18.25%	15.90%
Pre Tax Income Margin	19.85%	11.58%	17.51%	22.20%	26.73%	18.82%	18.46%	12.88%	16.11%	14.94%	13.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.15	2.61	3.21	3.59	4.38	4.45	5.02	2.08	3.22	2.69	3.13
NOPAT to Interest Expense	3.28	1.71	2.32	2.64	3.48	3.62	4.11	1.43	2.71	2.09	2.50
EBIT Less CapEx to Interest Expense	3.49	2.12	2.39	1.94	3.63	0.16	1.94	0.68	1.37	1.48	2.18
NOPAT Less CapEx to Interest Expense	2.61	1.21	1.51	0.99	2.72	-0.67	1.03	0.04	0.86	0.88	1.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	5.84%	14.82%	17.31%	15.01%	15.23%	16.92%	17.18%	21.55%	25.10%	22.93%	24.90%
Augmented Payout Ratio	5.84%	14.82%	17.31%	15.01%	15.23%	49.60%	40.67%	39.59%	38.20%	22.93%	27.61%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused take on Excelerate Energy, Inc. (NYSE: EE) using the last four years of quarterly statements provided (through Q4 2025). The bullets highlight the main trends and notable contrasts you may want to consider when evaluating the stock’s earnings, cash flow, and balance sheet dynamics.

Consistent positive cash flow from operations across 2025 quarters. In 2025, net cash from continuing operating activities was positive in every quarter, with roughly: Q1 around $155M, Q2 about $87M, Q3 about $115M, and Q4 about $104M, indicating solid ongoing cash generation relative to earnings.
Net income from continuing operations remained positive in most quarters. Examples include Q1 2025 around $52.1M, Q3 2025 about $55.0M, Q4 2025 about $39.1M, and several 2023–2024 quarters also showing positive ongoing profitability, underscoring a generally positive earnings trend on a continuing-operations basis.
Strong asset base and liquidity support. PPE net around $2.13B (Q3 2025) and long-term investments near $365M contribute to a sizeable asset base. Total assets in Q3 2025 hover around $4.10B, with cash balances ranging from roughly $462–$620M across 2025, indicating good liquidity buffers relative to current liabilities.
Notable earnings per share in the high-quality quarters. Diluted EPS reached about $0.43 in Q3 2025 and around $0.24 in Q4 2025, illustrating meaningful quarterly profitability levels in some periods, even as quarterly results vary.
Revenue shows quarter-to-quarter volatility, suggesting seasonality or market sensitivity. 2025 quarterly revenue points include Q3 2025 around $391M, Q4 2025 around $317.6M, Q2 2025 about $204.6M, and Q1 2025 about $315.1M, pointing to a choppy growth pattern rather than smooth expansion.
Data inconsistencies in a 2025 line item to watch. In Q4 2025, Total Gross Profit is shown as $720.6M while Total Revenue is $317.6M and Total Cost of Revenue is $403.1M, which appears inconsistent and may reflect data labeling or reporting issues that should be reconciled before drawing firm conclusions.
Large one-time or unusual expense in Q4 2025. Other Operating Expenses / (Income) in Q4 2025 is about $466.0M, a material item that can heavily impact quarterly profitability if not offset elsewhere.
Debt level and financing activity pressures liquidity. Long-Term Debt sits around $1.07B (Q3 2025), and interest expense remains meaningful (approximately $28.1M in Q3 2025; $27.8M in Q4 2025). Net cash from financing activities was negative in several periods, reflecting debt repayments and dividend-related outflows that can temper cash build in some quarters.
Profitability and EPS volatility persist on a quarterly basis. While some quarters show stronger earnings (e.g., Q3 2025), others weaken (e.g., Q4 2025), underscoring ongoing quarterly volatility in profitability and per-share metrics.
Significant noncontrolling interests dilute the portion attributable to common shareholders. Noncontrolling Interest is substantial in several balance sheets (e.g., around $1.52B in Q3 2025), meaning a large share of net income contributes to noncontrolling holders rather than EE’s common shareholders.

05/14/26 10:23 AM ETAI Generated. May Contain Errors.

Excelerate Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Excelerate Energy's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Excelerate Energy's net income appears to be on an upward trend, with a most recent value of $167.02 million in 2025, falling from -$250.57 million in 2020. The previous period was $153.03 million in 2024. View Excelerate Energy's forecast to see where analysts expect Excelerate Energy to go next.

Excelerate Energy's total operating income in 2025 was $266.69 million, based on the following breakdown:

Total Gross Profit: $1.23 billion
Total Operating Expenses: $961.57 million

Over the last 5 years, Excelerate Energy's total revenue changed from $0.00 in 2020 to $1.23 billion in 2025, a change of 122,826,300,000.0%.

Excelerate Energy's total liabilities were at $1.90 billion at the end of 2025, a 91.2% increase from 2024, and a 27.1% increase since 2021.

In the past 4 years, Excelerate Energy's cash and equivalents has ranged from $72.79 million in 2021 to $555.85 million in 2023, and is currently $538.23 million as of their latest financial filing in 2025.

Over the last 5 years, Excelerate Energy's book value per share changed from 0.00 in 2020 to 5.99 in 2025, a change of 598.5%.

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Financial statements for NYSE:EE last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Excelerate Energy (EE) Financials

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Excelerate Energy (EE) Financials

Annual Income Statements for Excelerate Energy

Quarterly Income Statements for Excelerate Energy

Annual Cash Flow Statements for Excelerate Energy

Quarterly Cash Flow Statements for Excelerate Energy

Annual Balance Sheets for Excelerate Energy

Quarterly Balance Sheets for Excelerate Energy

Annual Metrics And Ratios for Excelerate Energy

Quarterly Metrics And Ratios for Excelerate Energy

Financials Breakdown Chart

Key Financial Trends

Excelerate Energy Financials - Frequently Asked Questions

When does Excelerate Energy's fiscal year end?

How has Excelerate Energy's net income changed over the last 5 years?

What is Excelerate Energy's operating income?

How has Excelerate Energy's revenue changed over the last 5 years?

How much debt does Excelerate Energy have?

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How has Excelerate Energy's book value per share changed over the last 5 years?

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