NYSE · Energy

Cheniere Energy, Inc.

LNG · Oil & Gas Midstream

$272.85

▲ 2.79 (1.03%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Cheniere Energy, Inc. at $272.85.

The business passes 5 of 7 of Graham's defensive criteria — adequate but not exceptional.

Overall Grade

Defensive

Enterprising

Profitability A

Gross Profit Margin 47.7%

Operating Margin 45.6%

Net Income Margin 26.7%

Fin. Health F

Years to Pay Off Debt 4.8 yrs

Working Capital vs Long-Term Debt -$22.7B

Working Capital -$224M

Valuation F

Margin of Safety 0.0%

Price-to-Book 7.24x

Cash Flow C

Free Cash Flow $2.5B

CapEx % of Net Income 57.7%

Owner Earnings $9.7B

5/7

Graham Score

Enterprising

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $57.3B

Enterprise Value $87.3B

P/E (TTM) 11.30

Dividend Yield 0.78%

Exchange NYSE

Key Margins

Gross Profit 47.7%

Operating Margin 45.6%

Net Margin 26.7%

Company Info

Sector Energy

Industry Oil & Gas Midstream

Employees 1717

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Cheniere Energy, Inc. at $272.85.

The business passes 5 of 7 of Graham's defensive criteria — adequate but not exceptional.

At $272.85, the stock trades at a 91% premium to its Graham Number of $143.00. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: This stock is better suited for Graham's Enterprising investor — one willing to devote time and skill to security selection.

About Cheniere Energy, Inc.

Cheniere Energy, Inc., an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. The company owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. It also owns and operates the Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several large interstate and intrastate pipelines; and the Corpus Christi pipeline, a 21-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with interstate and intrastate natural gas pipelines. In addition, the company engages in the LNG and natural gas marketing business. Cheniere Energy, Inc. was incorporated in 1983 and is headquartered in Houston, Texas.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	47.7% ▲	42.1%	78.5%	14.9%	N/A
Operating Margin %	45.6% ▲	39.0%	75.9%	13.6%	N/A
Net Income %	26.7% ▲	20.7%	48.5%	4.3%	N/A
Diluted EPS	24.13 ▲	14.20	40.72	5.64	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$47.9B	$43.9B	$43.1B	$41.3B	N/A
Total Debt	$25.5B ↓	$25.6B	$26.3B	$27.9B	N/A
Working Capital	-$224M ▼	$360M	$2.4B	-$1.2B	N/A
Years to Pay Debt	4.79	7.87	2.66	19.57	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$2.5B ▼	$3.2B	$6.3B	$8.7B	N/A
Owner Earnings	$9.7B	$6.7B	$13.2B	$4.4B	N/A
CapEx % of Net Income	57.7%	68.8%	21.5%	128.2%	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Effect Of Unusual Items	-1,440	-1,377	2,595	-9,768
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	10,567,000	7,542,000	16,900,000	5,685,000
Total Unusual Items	-8,000	-9,000	15,000	-66,000
Total Unusual Items Excluding Goodwill	-8,000	-9,000	15,000	-66,000
Net Income From Continuing Operation Net Minority Interest	5,330,000	3,252,000	9,881,000	1,428,000
Reconciled Depreciation	1,329,000	1,220,000	1,196,000	1,119,000
Reconciled Cost Of Revenue	10,445,000	9,098,000	4,387,000	28,432,000
EBITDA	10,559,000	7,533,000	16,915,000	5,619,000
EBIT	9,230,000	6,313,000	15,719,000	4,500,000
Net Interest Income	-842,000	-821,000	-930,000	-1,349,000
Interest Expense	948,000	1,010,000	1,141,000	1,406,000
Interest Income	106,000	189,000	211,000	57,000
Normalized Income	5,336,560	3,259,623	9,868,595	1,484,232
Net Income From Continuing And Discontinued Operation	5,330,000	3,252,000	9,881,000	1,428,000
Total Expenses	10,864,000	9,575,000	4,905,000	28,869,000
Total Operating Income As Reported	9,112,000	6,128,000	15,489,000	4,559,000
Diluted Average Shares	220,300	229,100	242,600	253,400
Basic Average Shares	219,700	228,400	241,000	251,100
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	5,330,000	3,252,000	9,881,000	1,428,000
Net Income Common Stockholders	5,330,000	3,252,000	9,881,000	1,428,000
Net Income	5,330,000	3,252,000	9,881,000	1,428,000
Minority Interests	-1,464,000	-1,240,000	-2,178,000	-1,207,000
Net Income Including Noncontrolling Interests	6,794,000	4,492,000	12,059,000	2,635,000
Net Income Continuous Operations	6,794,000	4,492,000	12,059,000	2,635,000
Tax Provision	1,488,000	811,000	2,519,000	459,000
Pretax Income	8,282,000	5,303,000	14,578,000	3,094,000
Other Income Expense	12,000	-4,000	19,000	-116,000
Other Non Operating Income Expenses	20,000	5,000	4,000	-50,000
Special Income Charges	-8,000	-9,000	15,000	-66,000
Other Special Charges	8,000	9,000	-15,000	66,000
Write Off					5,000
Gain On Sale Of Security				2,000	-1,000
Net Non Operating Interest Income Expense	-842,000	-821,000	-930,000	-1,349,000
Interest Expense Non Operating	948,000	1,010,000	1,141,000	1,406,000
Interest Income Non Operating	106,000	189,000	211,000	57,000
Operating Income	9,112,000	6,128,000	15,489,000	4,559,000
Operating Expense	419,000	477,000	518,000	437,000
Other Operating Expenses	36,000	36,000	44,000	21,000
Research And Development				16,000	7,000
Selling General And Administration	383,000	441,000	474,000	416,000
General And Administrative Expense					332,000
Other Gand A					332,000
Gross Profit	9,531,000	6,605,000	16,007,000	4,996,000
Cost Of Revenue	10,445,000	9,098,000	4,387,000	28,432,000
Total Revenue	19,976,000	15,703,000	20,394,000	33,428,000
Operating Revenue	19,571,000	15,034,000	19,704,000	32,872,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	66,800	54,700	40,900	31,200
Ordinary Shares Number	212,400	224,000	237,000	245,500
Share Issued	279,200	278,700	277,900	276,700
Net Debt	21,714,000	20,267,000	19,631,000	23,515,000
Total Debt	25,515,000	25,587,000	26,323,000	27,949,000
Tangible Book Value	7,838,000	5,622,000	4,983,000	-3,046,000
Invested Capital	30,728,000	28,604,000	28,757,000	21,899,000
Working Capital	-224,000	360,000	2,443,000	-1,187,000
Net Tangible Assets	7,838,000	5,622,000	4,983,000	-3,046,000
Capital Lease Obligations	2,702,000	2,682,000	2,626,000	3,081,000
Common Stock Equity	7,915,000	5,699,000	5,060,000	-2,969,000
Total Capitalization	30,422,000	28,253,000	28,457,000	21,086,000
Total Equity Gross Minority Interest	13,078,000	10,060,000	9,020,000	-171,000
Minority Interest	5,163,000	4,361,000	3,960,000	2,798,000
Stockholders Equity	7,915,000	5,699,000	5,060,000	-2,969,000
Treasury Stock	8,852,000	6,136,000	3,864,000	2,342,000
Retained Earnings	12,243,000	7,382,000	4,546,000	-4,942,000
Additional Paid In Capital	4,523,000	4,452,000	4,377,000	4,314,000
Capital Stock	1,000	1,000	1,000	1,000
Common Stock	1,000	1,000	1,000	1,000
Total Liabilities Net Minority Interest	34,804,000	33,798,000	34,056,000	41,437,000
Total Non Current Liabilities Net Minority Interest	30,888,000	29,357,000	30,168,000	34,642,000
Other Non Current Liabilities	1,312,000	992,000	877,000	175,000
Derivative Product Liabilities	1,208,000	1,865,000	2,378,000	7,947,000
Non Current Deferred Liabilities	3,698,000	1,856,000	1,545,000	0
Non Current Deferred Taxes Liabilities	3,698,000	1,856,000	1,545,000	0
Long Term Debt And Capital Lease Obligation	24,670,000	24,644,000	25,368,000	26,520,000
Long Term Capital Lease Obligation	2,163,000	2,090,000	1,971,000	2,465,000
Long Term Debt	22,507,000	22,554,000	23,397,000	24,055,000
Current Liabilities	3,916,000	4,441,000	3,888,000	6,795,000
Other Current Liabilities	717,000	985,000	793,000	2,329,000
Current Deferred Liabilities	150,000	163,000	179,000	234,000
Current Deferred Revenue	150,000	163,000	179,000	234,000
Current Debt And Capital Lease Obligation	845,000	943,000	955,000	1,429,000
Current Capital Lease Obligation	539,000	592,000	655,000	616,000
Current Debt	306,000	351,000	300,000	813,000
Other Current Borrowings	306,000	351,000	300,000	813,000
Pensionand Other Post Retirement Benefit Plans Current	215,000	283,000	266,000	245,000
Payables And Accrued Expenses	1,989,000	2,067,000	1,695,000	2,558,000
Current Accrued Expenses	1,776,000	1,424,000	1,446,000	2,434,000
Interest Payable	219,000	214,000	399,000	383,000
Payables	213,000	643,000	249,000	124,000
Total Tax Payable	90,000	472,000	68,000
Accounts Payable	123,000	171,000	181,000	124,000
Total Assets	47,882,000	43,858,000	43,076,000	41,266,000
Total Non Current Assets	44,190,000	39,057,000	36,745,000	35,658,000
Other Non Current Assets	159,000	80,000	74,000	92,000
Non Current Prepaid Assets	286,000	223,000	195,000	190,000
Non Current Deferred Assets	78,000	84,000	84,000	924,000
Non Current Deferred Taxes Assets	12,000	19,000	26,000	864,000
Non Current Accounts Receivable	394,000	325,000	244,000	171,000
Financial Assets	4,663,000	1,903,000	863,000	35,000
Investments And Advances	78,000	129,000	111,000	16,000
Long Term Equity Investment	78,000	129,000	111,000	16,000
Goodwill And Other Intangible Assets	77,000	77,000	77,000	77,000
Goodwill	77,000	77,000	77,000	77,000
Net PPE	38,455,000	36,236,000	35,097,000	34,153,000
Accumulated Depreciation	-8,828,000	-7,528,000	-6,345,000	-5,198,000
Gross PPE	47,283,000	43,764,000	41,442,000	39,351,000
Leases		47,000	43,000	48,000	45,000
Construction In Progress	4,096,000	5,486,000	3,480,000	1,685,000
Other Properties	41,382,000	37,226,000	36,731,000	36,460,000
Machinery Furniture Equipment	1,060,000	587,000	725,000	707,000
Land And Improvements	745,000	465,000	463,000	451,000
Current Assets	3,692,000	4,801,000	6,331,000	5,608,000
Other Current Assets	119,000	100,000	96,000	97,000
Hedging Assets Current	9,000	155,000	141,000	120,000
Restricted Cash	561,000	680,000	477,000	1,268,000
Inventory	524,000	501,000	445,000	826,000
Other Inventories	30,000	15,000	3,000	4,000
Finished Goods	219,000	260,000	235,000	628,000
Raw Materials	275,000	226,000	207,000	194,000
Receivables	1,380,000	727,000	1,106,000	1,944,000
Other Receivables	143,000	66,000	126,000	101,000
Accounts Receivable	1,237,000	661,000	980,000	1,843,000
Cash Cash Equivalents And Short Term Investments	1,099,000	2,638,000	4,066,000	1,353,000
Cash And Cash Equivalents	1,099,000	2,638,000	4,066,000	1,353,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	2,461,000	3,156,000	6,297,000	8,693,000
Repurchase Of Capital Stock	-2,724,000	-2,262,000	-1,473,000	-1,373,000
Repayment Of Debt	-2,092,000	-3,521,000	-2,598,000	-6,771,000
Issuance Of Debt	1,987,000	2,725,000	1,397,000	1,575,000
Capital Expenditure	-3,078,000	-2,238,000	-2,121,000	-1,830,000
Interest Paid Supplemental Data	844,000	1,075,000	1,032,000	891,000
Income Tax Paid Supplemental Data			117,000	30,000	4,000
End Cash Position	1,584,000	3,190,000	4,525,000	2,487,000
Beginning Cash Position	3,190,000	4,525,000	2,487,000	1,817,000
Effect Of Exchange Rate Changes	-3,000	1,000	2,000	5,000
Changes In Cash	-1,603,000	-1,336,000	2,036,000	665,000
Financing Cash Flow	-4,130,000	-4,451,000	-4,180,000	-8,014,000
Cash Flow From Continuing Financing Activities	-4,130,000	-4,451,000	-4,180,000	-8,014,000
Net Other Financing Charges	-850,000	-981,000	-1,113,000	-1,096,000
Cash Dividends Paid	-451,000	-412,000	-393,000	-349,000
Common Stock Dividend Paid	-451,000	-412,000	-393,000	-349,000
Net Common Stock Issuance	-2,724,000	-2,262,000	-1,473,000	-1,373,000
Common Stock Payments	-2,724,000	-2,262,000	-1,473,000	-1,373,000
Net Issuance Payments Of Debt	-105,000	-796,000	-1,201,000	-5,196,000
Net Long Term Debt Issuance	-105,000	-796,000	-1,201,000	-5,196,000
Long Term Debt Payments	-2,092,000	-3,521,000	-2,598,000	-6,771,000
Long Term Debt Issuance	1,987,000	2,725,000	1,397,000	1,575,000
Investing Cash Flow	-3,012,000	-2,279,000	-2,202,000	-1,844,000
Cash Flow From Continuing Investing Activities	-3,012,000	-2,279,000	-2,202,000	-1,844,000
Net Other Investing Changes	68,000	-29,000	-20,000	1,000
Net Business Purchase And Sale	-2,000	-12,000	-61,000	-15,000
Purchase Of Business	-2,000	-12,000	-61,000	-15,000
Net PPE Purchase And Sale	-3,078,000	-2,238,000	-2,121,000	-1,830,000
Sale Of PPE			0	1,000	68,000
Purchase Of PPE	-3,078,000	-2,238,000	-2,121,000	-1,830,000
Operating Cash Flow	5,539,000	5,394,000	8,418,000	10,523,000
Cash Flow From Continuing Operating Activities	5,539,000	5,394,000	8,418,000	10,523,000
Interest Paid Cfo			0	-13,000	-190,000
Change In Working Capital	-1,735,000	-188,000	-177,000	-307,000
Change In Other Working Capital	-56,000	-21,000	259,000	733,000
Change In Other Current Liabilities	-619,000	-658,000	-607,000	-622,000
Change In Other Current Assets	-156,000	-80,000	-64,000	-43,000
Change In Payables And Accrued Expense	-232,000	248,000	-982,000	250,000
Change In Inventory	-32,000	-57,000	377,000	-123,000
Change In Receivables	-640,000	380,000	840,000	-502,000
Other Non Cash Items	352,000	-30,000	-32,000	-768,000
Stock Based Compensation	161,000	215,000	250,000	205,000
Asset Impairment Charge					29,000
Deferred Tax	1,859,000	330,000	2,389,000	440,000
Deferred Income Tax	1,859,000	330,000	2,389,000	440,000
Depreciation Amortization Depletion	1,329,000	1,220,000	1,196,000	1,119,000
Depreciation And Amortization	1,329,000	1,220,000	1,196,000	1,119,000
Depreciation	1,329,000	1,220,000	1,196,000	1,119,000
Operating Gains Losses	-3,221,000	-645,000	-7,267,000	7,199,000
Earnings Losses From Equity Investments				55,000	24,000
Gain Loss On Investment Securities	-3,844,000	-1,315,000	-7,890,000	6,531,000
Net Foreign Currency Exchange Gain Loss		0	-2,000	-5,000	0
Gain Loss On Sale Of PPE	623,000	670,000	623,000	607,000
Net Income From Continuing Operations	6,794,000	4,492,000	12,059,000	2,635,000

These metrics estimate what Cheniere Energy, Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$143.00

Margin of Safety

Market Cap ÷ Company Value

2.33

P/B Ratio

7.24

Warren's Owner Earnings

$9.7B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

5/7 — Enterprising Investor

✅ Adequate Size

$20.0B

vs > $1.5B revenue

❌ Strong Financial Condition

0.94x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

0.78%

vs Uninterrupted dividends

✅ Earnings Growth

+327.8% EPS growth

vs > 33% EPS growth

✅ Moderate P/E Ratio

11.3x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

7.24x P/B (P/E×P/B: 81.9)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-148.06

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$481.80

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	57.7%	68.8%	21.5%	128.2%	N/A
Repurchase of Capital Stock	-$2.7B	-$2.3B	-$1.5B	-$1.4B	N/A
Free Cash Flow	$2.5B ▼	$3.2B ▼	$6.3B ▼	$8.7B •	N/A •
Warren's Owner Earnings	$9.7B	$6.7B	$13.2B	$4.4B	N/A

Peers & Industry

No auto-detected peers for Oil & Gas Midstream. You can manually compare LNG against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.62%

Low — management has little skin in the game

Return on Equity (ROE)

67.3%

Excellent — management generates strong returns on equity

Return on Assets (ROA)

11.1%

Strong — management uses assets efficiently

Share Buybacks (Latest Year)

$2.7B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

-0.3% YoY

Debt is declining — management is deleveraging

Leadership Team

Jack Fusco

President, CEO & Director

Age 63

Pay: $6,355,985

0.119% of net income

Zach Davis

Executive VP & CFO

Age 40

Pay: $2,290,538

0.043% of net income

Maas Hinz

Senior Vice President of Operations

Age 52

Pay: $1,812,154

0.034% of net income

Randy Bhatia

Vice President of Investor Relations

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	10.10%	21,219,557
Blackrock Inc.	8.14%	17,111,264
Morgan Stanley	3.10%	6,511,626
State Street Corporation	2.94%	6,174,695
Manufacturers Life Insurance Co.	1.98%	4,170,530
Canada Pension Plan Investment Board	1.91%	4,009,172
FMR, LLC	1.89%	3,962,765
Geode Capital Management, LLC	1.85%	3,882,994

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.07

Low volatility — more stable than the market

Short Interest

2.2% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

2.02x

High leverage — significant financial risk

Current Ratio