Is the business good?
How good a business is LNG?
Cheniere Energy, Inc. earns 17% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
17%
Return on invested capital · cost of capital 9.0% · 8.4 points above what the capital costs: growth creates value
- Operating margin
- 30%
Operating margin · Oil & Gas Midstream median 36% · 12 months to Q2 2026
- Cash conversion
- 0.96×
Cash conversion · 0.61× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −5.8%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 28% |
| FY2021 | −4.4% |
| FY2022 | 14% |
| FY2023 | 76% |
| FY2024 | 39% |
| FY2025 | 46% |
Details›
- Gross margin12 months to Q2 2026
- 48%
- Operating margin12 months to Q2 2026
- 30%
- Net margin12 months to Q2 2026
- 14%
- Free cash flow margin
- 13%
- Revenue, trailing twelve months
- $21.5B
- Free cash flow, trailing twelve months
- $2.79B
- Net income, trailing twelve months
- $2.92B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 17%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Oil & Gas Midstream
Ranks #17 of 27 by Smart Score