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what it is
It buys U.S. natural gas, turns it into LNG, and sells and moves it through long-term export infrastructure.
how it gets paid
Last year Venture Global made $13.8B in revenue. LNG liquefaction and export was the main engine at $10.1B, or 73% of sales.
why it's growing
Revenue grew 176.9% last year. Revenue rose 180% vs. prior year, while EPS rose 181%.
what just happened
Revenue hit $9.3B and EPS came in at $0.45, ahead of the $0.30 expectation.
At a glance
B balance sheet — gets the job done, barely
13.6x trailing p/e — the market's not buying it — or you found a deal
2.0% dividend yield — cash in your pocket every quarter
9.0% return on capital — nothing to write home about
$1.20 fy2027 eps est
xvary composite: 40/100 — below average
What they do
It buys U.S. natural gas, turns it into LNG, and sells and moves it through long-term export infrastructure.
This business controls more of the chain than most peers: production, transport, shipping, and regasification. Operating margin → money left after running the business → so what: 46.0% says that chain is paying off. If you are a buyer that needs reliable LNG, using one operator across more steps makes switching slower and more expensive.
How they make money
$13.8B
annual revenue · their business grew +176.9% last year
LNG liquefaction and export
$10.1B
Natural gas sourcing
$1.5B
Transport and pipeline services
$1.0B
Shipping and logistics
$0.8B
Regasification and other services
$0.4B
The products that matter
operating lng export terminal
Calcasieu Pass LNG
380 cargoes in 2025
It exported a record 380 cargoes in 2025. That operating throughput helped drive the jump to $13.8B in company revenue.
current cash engine
lng terminal under development
Plaquemines LNG
financing closed dec 2025
This project secured financing in December 2025 and matters because the street is looking for revenue to reach $25B by fy2029. That target needs new capacity.
next growth leg
Key numbers
$1.20
fy2027 eps est
$25B
fy2029 rev est
13.6x
trailing p/e
2.0%
dividend yield
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 4 — safer than 20% of stocks
- long-term debt $32.7B (57% of capital)
- net profit margin 22.8% — keeps 23 cents of every dollar in revenue
- return on equity 20% — $0.20 profit for every $1 investors have put in
B — net profit margin looks solid but long-term debt needs watching.
Total return vs. market
Return history isn't available for VG right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $9.3B and EPS came in at $0.45, ahead of the $0.30 expectation.
Revenue rose 180% vs. prior year, while EPS rose 181%. The business is showing real scale, even with legal and financing noise hanging over it.
$9.3B
revenue
$0.45
eps
46.0%
operating margin
the number that mattered
The key number was $9.3 billion in quarterly revenue because it showed the capacity build is already landing in reported sales.
-
shares of venture global remain depressed.the stock has sold off considerably since the company originally went public early in 2025, amid weakness in global liquefied natural gas (lng) prices last year. more worrisome is that venture faces significant, multibillion litigation risks, largely resulting from disputes with major energy companies over alleged breaches of long-term lng supply contracts during the conflict in ukraine. the company has won some of these disputes, though it lost an arbitration ruling to bp, with damages estimated at more than $1 billion (a new hearing will be required to determine the final amount).
-
total liabilities from several claimants are said to potentially exceed $5 billion.on top of that, the company is facing a securities fraud class action lawsuit alleging that its ipo (initial public offering) documents lacked a reasonable basis and failed to disclose systemic delays and operational issues at several of venture global's lng plants. for its part, the company has maintained that its actions are defensible, and has indeed prevailed in some arbitration rulings. This stock offers fairly solid long-term capital gains potential.
-
this assumes considerable operating improvement for the company over the pull to late decade.
-
venture global is expanding lng production capacity.the company is a major supplier to international markets, and its long-term strategy of building extensive export infrastructure should be supported by rising global lng demand.
-
aggressive accounts might find something to like here.
source: company earnings report, 2026
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What could go wrong
The #1 risk is contract litigation tied to LNG deliveries.
high
Contract litigation could eat a lot of good operating work
Total liabilities from several claimants are said to potentially exceed $5B. One BP arbitration ruling already estimated damages above $1B, and a further hearing is still required to set the final amount.
why this matters: when your market cap is about $25B, a multibillion legal bill is not background noise.
high
The balance sheet is carrying $32.7B in long-term debt
Debt equals 57% of capital. That is manageable only if the terminals keep running well and expansion projects stay on track.
why this matters: leverage turns an execution story into a refinancing story very quickly if cash flow slips.
med
The securities fraud class action extends the overhang
The lawsuit alleges the IPO documents lacked a reasonable basis and did not fully disclose delays and operational issues at several LNG plants.
why this matters: even if the company fights the claims, the case keeps attention on past execution issues.
high
A beta of 5.7 means the stock is built for drawdowns
Beta measures how much a stock moves relative to the market. At 5.7, VG has been roughly 470% more volatile than the S&P 500.
why this matters: you can be right on the business and still get thrown around by the stock.
Between $32.7B of long-term debt and legal claims that could top $5B, a strong revenue year can get swallowed fast if execution or court outcomes go the wrong way.
source: institutional data · regulatory filings · risk analysis
Pay attention to
financials
Adjusted EBITDA follow-through
2025 adjusted EBITDA reached $6.3B. If that holds or grows, the debt stack looks more manageable. If it fades, the leverage story gets louder.
legal
BP damages hearing
A ruling already estimated more than $1B in damages. The final amount matters because it helps set the market's assumptions for the rest of the claims.
project timeline
Plaquemines milestones after the December 2025 financing close
The growth case points toward $25B of revenue by fy2029. That target needs project progress, not just financing headlines.
market behavior
Whether the valuation stays depressed
At 13.6x trailing earnings, the stock already reflects skepticism. Watch whether better operating results narrow that discount or whether litigation keeps the multiple pinned down.
Analyst rankings
consensus setup
split
The visible numbers do not line up neatly: current price is $10.17, one displayed midpoint is $8, and the 3–5 year range shown runs $12–$20. In human-speak: there is no clean consensus yet.
valuation read
13.6x
Trailing P/E is 13.6x. That looks modest for a company that just posted a 22.8% net margin, but the legal and leverage risks are sitting right beside it.
risk profile
5.7β
Beta is 5.7. In plain English: this is not analyst-model risk in a spreadsheet. It is stock-price risk in your account.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 153 buyers vs. 63 sellers in 3q2025. total institutional holdings: 0.5B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$3
$13
$10
current price
$8
target midpoint · 21% from current · 3-5yr high: $20 (+95% · 20% ann'l return)
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