EEExcelerate Energy, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (1.3×) and margins widening.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Negative operating leverage, costs are rising faster than sales, squeezing margins as it grows.
A balanced mix of margins, efficiency, and leverage. ROE 2% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is EE?
Excelerate Energy, Inc. earns 8.9% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 0.14 points below what the capital costs: growth destroys value
- Operating margin
- 22%
Operating margin · Oil & Gas Midstream median 30% · 12 months to Q2 2026
- Cash conversion
- 1.35×
Cash conversion · 1.65× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +0.62%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 31% |
| FY2021 | 16% |
| FY2022 | 7.5% |
| FY2023 | 18% |
| FY2024 | 25% |
| FY2025 | 22% |
Details›
- Operating margin12 months to Q2 2026
- 22%
- Net margin12 months to Q2 2026
- 3.2%
- Free cash flow margin
- 1.6%
- Revenue, trailing twelve months
- $1.47B
- Free cash flow, trailing twelve months
- $24M
- Net income, trailing twelve months
- $47M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Oil & Gas Midstream
Ranks #6 of 22 by RyuScore