Filing Flows › Venture Global (VG) › Q4 2025
Venture Global (VG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Venture Global (VG) reported revenue of $4.4B for the fourth quarter 2025 (Q4 2025), +192% from a year earlier and +34% from the quarter before. Operating margin was 38.7%, net earnings $1.1B (24.0% of revenue).
Venture Global, Q4 2025: revenue $4.4B (+192% year over year), operating margin 38.7%, net earnings $1.1B, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4B | +34% | +192% |
| Operating profit | $1.7B | +30% | +189% |
| Net earnings | $1.1B | +149% | +23% |
| Operating cash flow | $2.1B | +12% | +214% |
What changed
Revenue was $4.4B in Q4 2025, up 192% year over year and up 34% from the previous quarter. LNG revenue was the largest line at 99% of revenue.
Operating profit was $1.7B, a 38.7% margin (down 0.3 points year over year). Of the extra revenue versus Q4 2024, 38% reached operating profit, below the 39% margin then. Total costs grew 193% against revenue growth of 192%. The fastest-growing cost line was Cost of revenue (+396%). Net earnings were $1.1B, up 23% year over year. The effective tax rate was 18.8%.
Operating cash flow was $2.1B (up 214% year over year), 177% of net income including minority interests. Non-cash charges added back $0.24B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.67B. Capital expenditures of $3.6B exceeded it, leaving free cash flow of −$1.5B.
Questions
What was Venture Global's revenue in the fourth quarter 2025?
Venture Global (VG) reported revenue of $4.4B for the fourth quarter 2025 (Q4 2025), +192% from a year earlier and +34% from the quarter before.
Was Venture Global profitable in the fourth quarter 2025?
Operating profit was $1.7B (38.7% of revenue) and net earnings $1.1B.
Source: Venture Global 10-K on SEC EDGAR.