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Venture Global (VG) Financials

Venture Global logo
$14.80 +0.64 (+4.48%)
Closing price 05/19/2026 03:59 PM Eastern
Extended Trading
$14.82 +0.02 (+0.11%)
As of 05/19/2026 08:00 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Venture Global

Annual Income Statements for Venture Global

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 2,681 1,475 2,260
Consolidated Net Income / (Loss)		 3,616 1,746 2,733
Net Income / (Loss) Continuing Operations		 3,616 1,746 2,733
Total Pre-Tax Income 		4,432 2,183 3,363
Total Operating Income		 4,850 1,763 5,156
Total Gross Profit		 6,213 3,621 7,849
Total Revenue		 7,897 4,972 13,769
Operating Revenue		 7,897 4,972 13,769
Total Cost of Revenue		 1,684 1,351 5,920
Operating Cost of Revenue		 1,684 1,351 5,920
Total Operating Expenses		 1,363 1,858 2,693
Selling, General & Admin Expense		 615 901 1,408
Research & Development Expense		 490 635 344
Depreciation Expense		 277 322 941
Other Special Charges / (Income)		 -19 0.00 0.00
Total Other Income / (Expense), net		 -418 420 -1,793
Interest Expense		 764 598 1,721
Interest & Investment Income		 172 244 151
Other Income / (Expense), net		 174 774 -223
Income Tax Expense		 816 437 630
Preferred Stock Dividends Declared		 0.00 68 270
Net Income / (Loss) Attributable to Noncontrolling Interest		 935 203 203
Basic Earnings per Share		 $1.30 $0.63 $0.93
Weighted Average Basic Shares Outstanding		 2.07B 2.35B 2.43B
Diluted Earnings per Share		 $1.25 $0.57 $0.86
Weighted Average Diluted Shares Outstanding		 2.14B 2.59B 2.64B
Weighted Average Basic & Diluted Shares Outstanding		 - - 2.46B
Cash Dividends to Common per Share		 - - $0.03

Quarterly Income Statements for Venture Global

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

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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		 648 303 -347 871 396 368 429 1,067 488
Consolidated Net Income / (Loss)		 698 352 -294 990 517 475 550 1,191 625
Net Income / (Loss) Continuing Operations		 698 352 -294 990 517 475 550 1,191 625
Total Pre-Tax Income 		873 444 -372 1,238 668 591 637 1,467 736
Total Operating Income		 617 363 189 594 1,080 1,038 1,320 1,718 1,151
Total Gross Profit		 1,049 808 654 1,110 1,835 1,682 1,941 2,391 1,815
Total Revenue		 1,414 1,108 926 1,524 2,894 3,101 3,329 4,445 4,599
Operating Revenue		 1,414 1,108 926 1,524 2,894 3,101 3,329 4,445 4,599
Total Cost of Revenue		 365 300 272 414 1,059 1,419 1,388 2,054 2,784
Operating Cost of Revenue		 365 300 272 414 1,059 1,419 1,388 2,054 2,784
Total Operating Expenses		 432 445 465 516 755 644 621 673 664
Selling, General & Admin Expense		 181 201 220 299 357 320 350 381 367
Research & Development Expense		 181 174 156 124 182 57 53 52 46
Depreciation Expense		 70 70 89 93 216 267 218 240 251
Total Other Income / (Expense), net		 256 81 -561 644 -412 -447 -683 -251 -415
Interest Expense		 191 156 134 117 276 373 562 510 457
Interest & Investment Income		 73 61 53 57 56 38 27 30 28
Other Income / (Expense), net		 374 176 -480 704 -192 -112 -148 229 14
Income Tax Expense		 175 92 -78 248 151 116 87 276 111
Preferred Stock Dividends Declared		 0.00 0.00 1.00 67 68 67 67 68 68
Net Income / (Loss) Attributable to Noncontrolling Interest		 50 49 52 52 53 40 54 56 69
Basic Earnings per Share		 $0.28 $0.13 ($0.15) $0.37 $0.17 $0.15 $0.18 $0.43 $0.20
Weighted Average Basic Shares Outstanding		 2.35B 2.35B 2.35B 2.35B 2.40B 2.42B 2.43B 2.43B 2.46B
Diluted Earnings per Share		 $0.25 $0.12 ($0.15) $0.35 $0.15 $0.14 $0.16 $0.41 $0.19
Weighted Average Diluted Shares Outstanding		 2.58B 2.58B 2.35B 2.59B 2.64B 2.64B 2.64B 2.64B 2.64B
Weighted Average Basic & Diluted Shares Outstanding		 - - - 0.00 2.42B 2.43B 2.45B 2.46B 2.48B
Cash Dividends to Common per Share		 - - - - $0.02 - $0.02 - $0.02

Annual Cash Flow Statements for Venture Global

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 3,460 -1,258 -1,189
Net Cash From Operating Activities		 4,550 2,149 6,566
Net Cash From Continuing Operating Activities		 4,550 2,149 6,566
Net Income / (Loss) Continuing Operations		 3,616 1,746 2,733
Consolidated Net Income / (Loss)		 3,616 1,746 2,733
Depreciation Expense		 277 322 941
Non-Cash Adjustments To Reconcile Net Income		 264 -450 2,038
Changes in Operating Assets and Liabilities, net		 393 531 854
Net Cash From Investing Activities		 -8,725 -14,159 -13,220
Net Cash From Continuing Investing Activities		 -8,725 -14,159 -13,220
Purchase of Property, Plant & Equipment		 -8,091 -13,717 -13,365
Acquisitions		 -539 -106 -19
Other Investing Activities, net		 -95 -336 164
Net Cash From Financing Activities		 7,635 10,752 5,465
Net Cash From Continuing Financing Activities		 7,635 10,752 5,465
Repayment of Debt		 -6,091 -946 -11,069
Repurchase of Common Equity		 -591 -142 -1,004
Payment of Dividends		 -1,728 -139 -465
Issuance of Debt		 16,153 9,360 16,329
Issuance of Common Equity		 0.00 3,000 1,750
Other Financing Activities, net		 -108 -381 -76

Quarterly Cash Flow Statements for Venture Global

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

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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		 -784 -628 1,175 -1,021 -580 -1,112 620 -117 -374
Net Cash From Operating Activities		 638 558 280 673 1,114 1,458 1,883 2,111 763
Net Cash From Continuing Operating Activities		 638 558 280 673 1,114 1,458 1,883 2,111 763
Net Income / (Loss) Continuing Operations		 698 352 -294 990 517 475 550 1,191 625
Consolidated Net Income / (Loss)		 698 352 -294 990 517 475 550 1,191 625
Depreciation Expense		 70 70 89 93 216 267 218 240 251
Non-Cash Adjustments To Reconcile Net Income		 -302 -91 570 -627 329 624 919 166 12
Changes in Operating Assets and Liabilities, net		 172 227 -85 217 52 92 196 514 -125
Net Cash From Investing Activities		 -3,140 -3,446 -3,850 -3,723 -3,470 -2,934 -3,173 -3,643 -2,998
Net Cash From Continuing Investing Activities		 -3,140 -3,446 -3,850 -3,723 -3,470 -2,934 -3,173 -3,643 -2,998
Purchase of Property, Plant & Equipment		 -3,004 -3,251 -3,803 -3,659 -3,466 -2,980 -3,294 -3,625 -3,181
Other Investing Activities, net		 -136 -195 -47 42 -4.00 46 121 1.00 183
Net Cash From Financing Activities		 1,718 2,260 4,745 2,029 1,776 364 1,910 1,415 1,861
Net Cash From Continuing Financing Activities		 1,718 2,260 4,745 2,029 1,776 364 1,910 1,415 1,861
Repayment of Debt		 -427 -246 -420 147 -92 -2,807 -4,870 -3,300 -362
Repurchase of Common Equity		 0.00 - -95 -47 -75 -157 -666 -106 -317
Payment of Dividends		 -15 -14 -54 -56 -190 -57 -176 -42 -180
Issuance of Debt		 2,160 2,520 2,314 2,366 383 3,385 7,622 4,939 2,720
Issuance of Common Equity		 0.00 - 3,000 - 1,750 - - - 0.00

Annual Balance Sheets for Venture Global

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

Metric 2024 2025
Period end date 12/31/2024 12/31/2025
Total Assets		 43,491 53,446
Total Current Assets		 4,559 4,040
Cash & Equivalents		 3,608 2,355
Restricted Cash		 169 195
Accounts Receivable		 364 918
Inventories, net		 171 253
Prepaid Expenses		 93 254
Other Current Assets		 154 65
Plant, Property, & Equipment, net		 34,675 46,588
Total Noncurrent Assets		 4,257 2,818
Other Noncurrent Operating Assets		 3,873 2,275
Other Noncurrent Nonoperating Assets		 384 543
Total Liabilities & Shareholders' Equity		 43,491 53,446
Total Liabilities		 35,595 41,450
Total Current Liabilities		 3,542 4,344
Short-Term Debt		 190 812
Accounts Payable		 1,536 737
Accrued Expenses		 1,816 2,795
Total Noncurrent Liabilities		 32,053 37,106
Long-Term Debt		 29,086 33,393
Noncurrent Deferred & Payable Income Tax Liabilities		 1,637 2,320
Other Noncurrent Operating Liabilities		 1,330 1,393
Commitments & Contingencies		 0.00 0.00
Redeemable Noncontrolling Interest		 1,529 1,696
Total Equity & Noncontrolling Interests		 6,367 10,300
Total Preferred & Common Equity		 2,897 6,743
Total Common Equity		 2,874 6,739
Common Stock		 512 2,258
Retained Earnings		 2,611 4,720
Accumulated Other Comprehensive Income / (Loss)		 -249 -239
Noncontrolling Interest		 3,470 3,557

Quarterly Balance Sheets for Venture Global

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

Metric Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 45,051 46,511 50,079 56,300
Total Current Assets		 4,893 3,978 3,258 3,219
Cash & Equivalents		 3,605 2,247 1,879 1,599
Restricted Cash		 63 76 334 335
Accounts Receivable		 640 673 633 810
Inventories, net		 189 184 227 241
Prepaid Expenses		 230 696 95 146
Other Current Assets		 166 102 90 88
Plant, Property, & Equipment, net		 37,006 39,983 43,258 49,754
Total Noncurrent Assets		 3,152 2,550 3,563 3,327
Other Noncurrent Operating Assets		 2,757 2,231 3,053 2,496
Other Noncurrent Nonoperating Assets		 58 146 510 831
Total Liabilities & Shareholders' Equity		 45,051 46,511 50,079 56,300
Total Liabilities		 35,132 36,100 39,258 43,955
Total Current Liabilities		 2,824 2,857 3,923 3,712
Short-Term Debt		 193 197 856 126
Accounts Payable		 791 601 947 817
Accrued Expenses		 1,840 2,059 2,120 2,769
Total Noncurrent Liabilities		 32,308 33,243 35,335 40,243
Long-Term Debt		 29,130 29,774 31,743 36,456
Noncurrent Deferred & Payable Income Tax Liabilities		 1,788 1,920 2,024 2,419
Other Noncurrent Operating Liabilities		 1,390 1,549 1,568 1,368
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 1,567 1,606 1,650 1,629
Total Equity & Noncontrolling Interests		 8,352 8,805 9,171 10,716
Total Preferred & Common Equity		 4,881 5,269 5,692 7,233
Total Common Equity		 4,881 5,269 5,692 7,233
Common Stock		 2,188 2,204 2,238 2,305
Retained Earnings		 2,939 3,307 3,694 5,163
Accumulated Other Comprehensive Income / (Loss)		 -246 -242 -240 -235
Noncontrolling Interest		 3,471 3,536 3,479 3,483

Annual Metrics And Ratios for Venture Global

This table displays calculated financial ratios and metrics derived from Venture Global's official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 2,448,110,596.00
DEI Adjusted Shares Outstanding		 0.00 0.00 2,448,110,596.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.92
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 3,957 1,410 4,190
Return On Investment Capital (ROIC_SIMPLE)		 - 3.96% 9.41%
Earnings before Interest and Taxes (EBIT)		 5,024 2,537 4,933
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5,301 2,859 5,874
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -31,601 -5,907
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 0.00 33,011 43,108
Increase / (Decrease) in Invested Capital		 0.00 33,011 10,097
Book Value per Share		 $0.00 $1.22 $2.75
Tangible Book Value per Share		 $0.00 $1.22 $2.75
Total Capital		 0.00 37,172 46,201
Total Debt		 0.00 29,276 34,205
Total Long-Term Debt		 0.00 29,086 33,393
Net Debt		 0.00 25,499 31,655
Capital Expenditures (CapEx)		 8,091 13,717 13,365
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -2,570 -2,042
Debt-free Net Working Capital (DFNWC)		 0.00 1,207 508
Net Working Capital (NWC)		 0.00 1,017 -304
Net Nonoperating Expense (NNE)		 341 -336 1,457
Net Nonoperating Obligations (NNO)		 0.00 25,115 31,112
Total Depreciation and Amortization (D&A)		 277 322 941
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.93
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 2.43B
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.86
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 2.64B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 2.46B
Normalized Net Operating Profit after Tax (NOPAT)		 3,942 1,410 4,190
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Venture Global

This table displays calculated financial ratios and metrics derived from Venture Global's official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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		 - - - 0.00 - - - 2,448,110,596.00 2,456,970,305.00
DEI Adjusted Shares Outstanding		 - - - 0.00 - - - 2,448,110,596.00 2,456,970,305.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - 0.00 - - - 0.44 0.20
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% - 104.67% 179.87% 259.50% - 58.92%
EBITDA Growth		 0.00% 0.00% 0.00% - 4.05% 95.89% 788.12% - 28.26%
EBIT Growth		 0.00% 0.00% 0.00% - -10.39% 71.80% 502.75% - 31.19%
NOPAT Growth		 0.00% 0.00% 0.00% - 69.44% 189.89% 761.46% - 16.93%
Net Income Growth		 0.00% 0.00% 0.00% - -25.93% 34.94% 287.07% - 20.89%
EPS Growth		 0.00% 0.00% 0.00% - -40.00% 16.67% 206.67% - 26.67%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% - 74.61% 161.29% 572.50% - -31.51%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 70.87%
Invested Capital Growth		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 31.22%
Revenue Q/Q Growth		 0.00% -21.64% -16.43% - 0.00% 7.15% 7.35% - 3.46%
EBITDA Q/Q Growth		 0.00% -42.60% -133.17% - 0.00% 8.06% 16.51% - -35.25%
EBIT Q/Q Growth		 0.00% -45.61% -153.99% - 0.00% 4.28% 26.57% - -40.16%
NOPAT Q/Q Growth		 0.00% -41.66% -54.03% - 0.00% -0.19% 36.61% - -29.92%
Net Income Q/Q Growth		 0.00% -49.57% -183.52% - 0.00% -8.12% 15.79% - -47.52%
EPS Q/Q Growth		 0.00% -52.00% -225.00% - 0.00% -6.67% 14.29% - -53.66%
Operating Cash Flow Q/Q Growth		 0.00% -12.54% -49.82% - 0.00% 30.88% 29.15% - -63.86%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% - 0.00% -7.46% -7.18% - -14.98%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% - 0.00% 7.28% 7.84% - 7.08%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 74.19% 72.92% 70.63% - 63.41% 54.24% 58.31% - 39.47%
EBITDA Margin		 75.04% 54.96% -21.81% - 38.15% 38.47% 41.75% - 30.79%
Operating Margin		 43.64% 32.76% 20.41% - 37.32% 33.47% 39.65% - 25.03%
EBIT Margin		 70.08% 48.65% -31.43% - 30.68% 29.86% 35.21% - 25.33%
Profit (Net Income) Margin		 49.36% 31.77% -31.75% - 17.86% 15.32% 16.52% - 13.59%
Tax Burden Percent		 79.95% 79.28% 79.03% - 77.40% 80.37% 86.34% - 84.92%
Interest Burden Percent		 88.09% 82.37% 127.84% - 75.23% 63.82% 54.35% - 63.18%
Effective Tax Rate		 20.05% 20.72% 0.00% - 22.60% 19.63% 13.66% - 15.08%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 8.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 6.89%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 18.29%
Return on Equity (ROE)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 26.38%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -16.36%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 7.74%
Return on Assets (ROA)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 4.15%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 14.35%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 493 288 132 475 836 834 1,140 1,395 977
NOPAT Margin		 34.89% 25.97% 14.29% - 28.88% 26.90% 34.24% - 21.25%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% - 2.52% 2.63% 3.95% - 1.19%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 1.33% 2.22% 2.15% 2.73% 3.13% 2.07%
Cost of Revenue to Revenue		 25.81% 27.08% 29.37% - 36.59% 45.76% 41.69% - 60.53%
SG&A Expenses to Revenue		 12.80% 18.14% 23.76% - 12.34% 10.32% 10.51% - 7.98%
R&D to Revenue		 12.80% 15.70% 16.85% - 6.29% 1.84% 1.59% - 1.00%
Operating Expenses to Revenue		 30.55% 40.16% 50.22% - 26.09% 20.77% 18.65% - 14.44%
Earnings before Interest and Taxes (EBIT)		 991 539 -291 1,298 888 926 1,172 1,947 1,165
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,061 609 -202 1,391 1,104 1,193 1,390 2,187 1,416
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 - 5.58 7.79 6.58 - 5.74
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 - 5.58 7.79 6.58 - 5.74
Price to Revenue (P/Rev)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 2.68
Price to Earnings (P/E)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 17.66
Dividend Yield		 0.00% 0.00% 0.00% - 0.16% 0.21% 0.35% - 0.43%
Earnings Yield		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 5.66%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 - 1.64 1.95 1.79 - 1.76
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 5.25
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 13.14
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 15.60
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 18.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 13.08
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 - 2.96 2.88 3.01 - 2.96
Long-Term Debt to Equity		 0.00 0.00 0.00 - 2.94 2.86 2.93 - 2.95
Financial Leverage		 0.00 0.00 0.00 - 2.55 2.63 2.76 - 2.65
Leverage Ratio		 0.00 0.00 0.00 - 4.54 4.47 4.63 - 4.55
Compound Leverage Factor		 0.00 0.00 0.00 - 3.42 2.85 2.52 - 2.88
Debt to Total Capital		 0.00% 0.00% 0.00% - 74.72% 74.22% 75.08% - 74.77%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% - 0.49% 0.49% 1.97% - 0.26%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% - 74.23% 73.73% 73.11% - 74.51%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% - 12.84% 12.73% 11.81% - 10.45%
Common Equity to Total Capital		 0.00% 0.00% 0.00% - 12.44% 13.05% 13.11% - 14.78%
Debt to EBITDA		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 5.91
Net Debt to EBITDA		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 5.60
Long-Term Debt to EBITDA		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 5.89
Debt to NOPAT		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 8.45
Net Debt to NOPAT		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 8.01
Long-Term Debt to NOPAT		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 8.42
Altman Z-Score		 0.00 0.00 0.00 - 0.68 0.88 0.74 - 1.03
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% - 50.79% 49.39% 47.40% - 45.59%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 - 1.73 1.39 0.83 - 0.87
Quick Ratio		 0.00 0.00 0.00 - 1.50 1.02 0.64 - 0.65
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 0.00 -34,343 -36,906 -39,557 -8,702 -10,006
Operating Cash Flow to CapEx		 21.24% 17.16% 7.36% - 32.14% 48.93% 57.16% - 23.99%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 - -124.43 -98.94 -70.39 - -21.89
Operating Cash Flow to Interest Expense		 3.34 3.58 2.09 - 4.04 3.91 3.35 - 1.67
Operating Cash Flow Less CapEx to Interest Expense		 -12.39 -17.26 -26.29 - -8.52 -4.08 -2.51 - -5.29
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.31
Accounts Receivable Turnover		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 21.34
Inventory Turnover		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 35.56
Fixed Asset Turnover		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.36
Accounts Payable Turnover		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 9.51
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 17.10
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 10.26
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 38.39
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 - 0.00 0.00 0.00 - -11.02
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 33,011 35,179 37,740 40,697 43,108 46,162
Invested Capital Turnover		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.38
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 0.00 35,179 37,740 40,697 10,097 10,983
Enterprise Value (EV)		 0.00 0.00 0.00 - 57,579 73,670 72,991 - 81,288
Market Capitalization		 1,750 1,750 1,750 - 27,223 41,053 37,476 - 41,528
Book Value per Share		 $0.00 $0.00 $0.00 $1.22 $2.03 $2.18 $2.34 $2.75 $2.94
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $1.22 $2.03 $2.18 $2.34 $2.75 $2.94
Total Capital		 0.00 0.00 0.00 37,172 39,242 40,382 43,420 46,201 48,927
Total Debt		 0.00 0.00 0.00 29,276 29,323 29,971 32,599 34,205 36,582
Total Long-Term Debt		 0.00 0.00 0.00 29,086 29,130 29,774 31,743 33,393 36,456
Net Debt		 0.00 0.00 0.00 25,499 25,318 27,475 30,386 31,655 34,648
Capital Expenditures (CapEx)		 3,004 3,251 3,803 3,659 3,466 2,980 3,294 3,625 3,181
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 -2,570 -1,406 -1,005 -2,022 -2,042 -2,301
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 1,207 2,262 1,318 191 508 -367
Net Working Capital (NWC)		 0.00 0.00 0.00 1,017 2,069 1,121 -665 -304 -493
Net Nonoperating Expense (NNE)		 -205 -64 426 -515 319 359 590 204 352
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 25,115 25,260 27,329 29,876 31,112 33,817
Total Depreciation and Amortization (D&A)		 70 70 89 93 216 267 218 240 251
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -14.87%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -2.37%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -3.19%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.37 $0.17 $0.15 $0.18 $0.43 $0.20
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 2.35B 2.40B 2.42B 2.43B 2.43B 2.46B
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.35 $0.15 $0.14 $0.16 $0.41 $0.19
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 2.59B 2.64B 2.64B 2.64B 2.64B 2.64B
Adjusted Basic & Diluted Earnings per Share		 $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		 0.00 0.00 0.00 0.00 2.42B 2.43B 2.45B 2.46B 2.48B
Normalized Net Operating Profit after Tax (NOPAT)		 493 288 132 475 836 834 1,140 1,395 977
Normalized NOPAT Margin		 34.89% 25.97% 14.29% - 28.88% 26.90% 34.24% - 21.25%
Pre Tax Income Margin		 61.74% 40.07% -40.17% - 23.08% 19.06% 19.13% - 16.00%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 5.19 3.46 -2.17 - 3.22 2.48 2.09 - 2.55
NOPAT to Interest Expense		 2.58 1.84 0.99 - 3.03 2.24 2.03 - 2.14
EBIT Less CapEx to Interest Expense		 -10.54 -17.38 -30.55 - -9.34 -5.51 -3.78 - -4.41
NOPAT Less CapEx to Interest Expense		 -13.14 -19.00 -27.39 - -9.53 -5.75 -3.83 - -4.82
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 16.02%
Augmented Payout Ratio		 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 59.87%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise trend analysis of Venture Global (NYSE: VG) using the most recent four quarters of 2025 and the four quarters of 2024 that were provided. The company shows strong top‑line growth and improving profitability in 2025, but continues to invest aggressively in capacity, resulting in meaningful negative free cash flow and a rising debt burden.

  • Strong 2025 revenue ramp: Q4 2025 revenue reached $4.445B, up from $2.894B in Q1 2025, signaling accelerated topline growth through the year.
  • Healthy gross profit progression: Q4 2025 gross profit was $2.391B with margins broadly in the mid‑40s to mid‑50s range relative to revenue, and margins compressing/diversifying across 2025 but remaining robust.
  • Net income per quarter improves notably: Q4 2025 net income attributable to common shareholders was $1.067B (basic EPS $0.43, diluted $0.41), following solid prior quarters in 2025.
  • Operating cash flow remains strong: Q4 2025 cash from continuing operating activities was $2.111B, with 2025 showing a clear uptrend in cash generation versus earlier quarters.
  • Operating income remains solid: Q4 2025 total operating income was $1.718B, reinforcing healthy operating profitability alongside revenue growth.
  • Equity base expanding: Total equity and noncontrolling interests rose toward about $9.17B by 2025 Q3, indicating an improving balance sheet cushion behind the rising asset base.
  • Capital spending supports long‑term growth: Plant, Property & Equipment balance (~$43.3B by 2025 Q3) and total assets near $50.5B reflect ongoing capacity expansion aligned with the revenue ramp.
  • Access to capital markets persists: 2025 debt issuances were meaningful (Q3 2025 issuance around $7.62B; Q4 2025 issuance around $4.94B), helping fund the large investment program and supporting financing activity.
  • Margin and earnings per share show quarterly variability: Gross margins and EPS vary across quarters (e.g., Q1 2025 vs Q4 2025), indicating cyclical/macro factors at play rather than a single steady trend.
  • Free cash flow is consistently negative in 2025: After considering operating cash flow minus capital spending, 2025 quarters show negative free cash flow (approx. CFO of 2.11B minus capex in the 3–3.6B range each quarter), signaling cash burn from investing activities despite strong operating cash flow.
  • Debt load remains high and rising: Long‑term debt hovered near $29–32B in 2025 (e.g., $29.1B at Q1 2025 and $31.7B at Q3 2025), accompanied by sizable interest expense (Q4 2025 interest expense around $510M), which adds leverage risk if cash flows wane.

Bottom line for investors: Venture Global generated meaningful operating cash flow and posted stronger profitability in Q4 2025 as the topline grew. However, the company continues to invest heavily in capacity (large CAPEX), resulting in negative free cash flow and a rising debt load. If the company can sustain the revenue ramp and disciplined capital deployment, cash from operations may help de‑risk the balance sheet over time; otherwise, ongoing dependence on debt issuance could elevate financial risk if market conditions tighten.

05/20/26 01:05 AM ETAI Generated. May Contain Errors.

Venture Global Financials - Frequently Asked Questions

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

Venture Global's net income appears to be on a downward trend, with a most recent value of $2.73 billion in 2025, falling from $3.62 billion in 2023. The previous period was $1.75 billion in 2024. See Venture Global's forecast for analyst expectations on what's next for the company.

Venture Global's total operating income in 2025 was $5.16 billion, based on the following breakdown:
  • Total Gross Profit: $7.85 billion
  • Total Operating Expenses: $2.69 billion

Over the last 2 years, Venture Global's total revenue changed from $7.90 billion in 2023 to $13.77 billion in 2025, a change of 74.4%.

Venture Global's total liabilities were at $41.45 billion at the end of 2025, a 16.4% increase from 2024, and a 16.4% increase since 2024.

In the past 1 years, Venture Global's cash and equivalents has ranged from $2.36 billion in 2025 to $3.61 billion in 2024, and is currently $2.36 billion as of their latest financial filing in 2025.

Over the last 2 years, Venture Global's book value per share changed from 0.00 in 2023 to 2.75 in 2025, a change of 275.4%.


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Financial statements for NYSE:VG last updated on 5/17/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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