Filing Flows › Cheniere Energy Partners, L.P. (CQP) › Q4 2025
Cheniere Energy Partners, L.P. (CQP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Cheniere Energy Partners, L.P. (CQP) reported revenue of $2.9B for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and +21% from the quarter before. Operating margin was 50.5%, net earnings $1.3B (44.2% of revenue).
Cheniere Energy Partners, L.P., Q4 2025: revenue $2.9B (+18% year over year), operating margin 50.5%, net earnings $1.3B, operating cash flow $887M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +21% | +18% |
| Operating profit | $1.5B | +111% | +81% |
| Net earnings | $1.3B | +154% | +107% |
| Operating cash flow | $887M | +35% | +1% |
| Free cash flow | $864M | +42% | +4% |
What changed
Revenue was $2.9B in Q4 2025, up 18% year over year and up 21% from the previous quarter. LNG was the largest line at 98% of revenue.
Operating profit was $1.5B, a 50.5% margin (up 17.5 points year over year). Of the extra revenue versus a year earlier, 146% reached operating profit, above the 33% margin then. Total costs fell 13% while revenue rose 18%. Net earnings were $1.3B, up 107% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.89B (up 1% year over year), 69% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items used $0.57B. Capital expenditures of $0.02B left free cash flow of $0.86B.
Questions
What was Cheniere Energy Partners, L.P.'s revenue in the fourth quarter 2025?
Cheniere Energy Partners, L.P.
Was Cheniere Energy Partners, L.P. profitable in the fourth quarter 2025?
Operating profit was $1.5B (50.5% of revenue) and net earnings $1.3B.