# Expand Energy Corporation Common Stock (EXE) — Stock CV

Expand Energy Corporation is a $20.4B energy company. Revenue grew 56.2% over the last year, it keeps 20¢ of every dollar of sales as profit, and its net debt equals ~1.6 years of free cash flow. It trades at 7.3× earnings — in the cheapest third of its own history.

> Expand Energy is a North American natural gas producer in the Haynesville and Appalachian basins, formed by the combination of Chesapeake and Southwestern. Its largest operation by volume is the Haynesville basin in Louisiana, which is heavily exposed to nearby LNG production.

## Identity

- **Ticker**: EXE
- **Sector**: Energy
- **Industry**: Crude Petroleum & Natural Gas
- **Headquarters**: SPRING, TX
- **Employees**: 1 600
- **Website**: https://www.expandenergy.com
- **Market cap**: $20.4B
- **Last price**: $88.15
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $13.6B
- **Net income**: $2.78B
- **Free cash flow**: $2.68B
- **Net debt**: $4.39B
- **P/E**: 7.3
- **Revenue growth (YoY)**: 56.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 95 |
| Growth | 20 |
| Profitability | 67 |
| Health | 61 |
| Quality | 59 |
| Moat | 56 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +56.2% YoY
- [x] Profitable — $2.78B TTM
- [ ] Profit growing — -39.3% YoY
- [x] Generates cash — $2.68B TTM
- [x] Debt under control — ~1.6y of cash flow to repay
- [x] Established company — $20.4B market cap
- [ ] Not printing shares — +129.6% shares over ~5y
- [ ] Proven track record — 4/5 profitable years
- [x] Financially stable — Altman Z 2.3 — grey
- [x] Pays a dividend — yield 3.75%
- [x] Valuation not extreme — P/E 7.3

## Experience (career milestones)

- **2026** — The company acquired Twin Eagle Holdings for $1.25 billion
- **Q2 2026** — 4 open-market insider purchases: ~6K shares bought by insiders
- **2024** — The company acquired Southwestern Energy in a $7.4 billion all-stock deal and was rebranded as…
- **2024** — Expand Energy Corporation (known as Chesapeake Energy until 2024) is the largest independent natural gas producer in…
- **FY2022** — Revenue crossed $10B: $14.1B for the year
- **2022** — The company acquired Chief Oil & Gas for approximately $2.6 billion
- **FY2021** — First recorded profitable year: $6.33B net income
- **FY2021** — Revenue already above $1B: $7.30B in first reported year
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **FY2021** — Best year on record: $6.33B net income
- **2021** — It emerged from bankruptcy protection in February 2021
- **2021** — The company acquired Vine Energy, which operated in the Haynesville Shale
- **2019** — The company acquired Texas oil producer WildHorse Resource Development for $4 billion in cash and…
- **2014** — The state of Michigan filed felony fraud and racketeering charges against the company, alleging that…
- **1993** — The company became a public company via an initial public offering
- **1989** — The company was founded in 1989 as Chesapeake Energy by Aubrey McClendon and Tom L

## Strengths

- High gross margin (74.5%)
- Strongly profitable — 20.5% net margin
- Revenue growing 56.2% year over year
- Strong cash conversion — FCF is 19.7% of revenue
- Could repay net debt from ~1.1 years of free cash flow

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $7.30B | $6.33B | $1.05B |
| FY2022 | $14.1B | $4.87B | $2.30B |
| FY2023 | $6.05B | $2.42B | $551M |
| FY2024 | $4.24B | -$714M | $8.00M |
| FY2025 | $12.1B | $1.82B | $1.84B |

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Source: https://stockcv.com/EXE — derived from company filings; may be delayed or incomplete. Information, not investment advice.