Filing Flows › Cheniere Energy (LNG) › Q4 2025
Cheniere Energy (LNG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Cheniere Energy (LNG) reported revenue of $5.5B for the fourth quarter 2025 (Q4 2025), +23% from a year earlier and +23% from the quarter before. Operating margin was 69.8%, net earnings $2.3B (42.2% of revenue).
Cheniere Energy, Q4 2025: revenue $5.5B (+23% year over year), operating margin 69.8%, net earnings $2.3B, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.5B | +23% | +23% |
| Operating profit | $3.8B | +109% | +119% |
| Net earnings | $2.3B | +119% | +136% |
| Operating cash flow | $2.1B | +44% | +25% |
| Free cash flow | $1.3B | +78% | +22% |
What changed
Revenue was $5.5B in Q4 2025, up 23% year over year and up 23% from the previous quarter. LNG was the largest line at 97% of revenue.
Operating profit was $3.8B, a 69.8% margin (up 30.6 points year over year). Of the extra revenue versus a year earlier, 204% reached operating profit, above the 39% margin then. Total costs fell 39% while revenue rose 23%. Net earnings were $2.3B, up 136% year over year. The effective tax rate was 17.9%.
Operating cash flow was $2.1B (up 25% year over year), 70% of net income including minority interests. Non-cash charges added back $0.35B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $1.2B. Capital expenditures of $0.74B left free cash flow of $1.3B.
Questions
What was Cheniere Energy's revenue in the fourth quarter 2025?
Cheniere Energy (LNG) reported revenue of $5.5B for the fourth quarter 2025 (Q4 2025), +23% from a year earlier and +23% from the quarter before.
Was Cheniere Energy profitable in the fourth quarter 2025?
Operating profit was $3.8B (69.8% of revenue) and net earnings $2.3B.
Source: Cheniere Energy 10-K on SEC EDGAR.