Expand Energy (EXE)
America's biggest natural-gas producer, born from the merger of Chesapeake and Southwestern Energy.
Is Expand Energy a good stock for a UK beginner?
The honest version: There's no rating here and nothing for sale. In its favour: Very low trailing P/E (6.5) versus the broader market. Worth weighing: Very weak momentum score (M12) and a roughly -14% 12-month share-price decline despite strong reported fundamentals.
Is this normal for this company?
Each figure against the range this same company has produced recently. Neither end of a range is the good end.
Share price divided by the earnings actually reported over the four most recent quarters. The range is the same calculation at each of this company's last few results, so roughly the past year.
Profit as a share of sales, from the company's own quarterly statements. The range covers the 5 quarters we hold, and the figure shown is its most recent one.
How these ranges are built
Every number here is the company's own reported figure, not a comparison with other companies. The ranges come from this company's own results and its share price. Where it reports in a different currency from the one its shares trade in, the price-to-earnings range is left out rather than mixing the two.
What does Expand Energy do?
Expand Energy drills for natural gas across the big US shale basins, and it's the country's largest gas producer after Chesapeake Energy and Southwestern Energy joined forces. The business looks good on paper - a 24.9% net margin: How much of each £1 of sales becomes profit after all costs. Higher = more profitable per sale. and 41% revenue growth: How fast the company's sales grew versus a year ago. - yet the share price has slipped about 14% over the past year, the kind of gap you sometimes see when the mood hasn't caught up with improving numbers. Its trailing P/E: Price-to-earnings: the share price divided by yearly profit per share. Lower can mean cheaper; higher often means investors expect fast growth. is low at 6.5, but the forward P/E: Like P/E, but using analysts' forecast of NEXT year's profit instead of last year's. A much lower forward figure implies profits are expected to jump. of 10.3 is notably higher, hinting analysts expect earnings to ease from a recent high. The one thing worth watching -> a very weak momentum score (M12) alongside strong growth (G94) and income (I82) readings.
On our factor screen it looks strongest on value and income, and weakest on growth.
- ✓Pays a dividend - about 2.4% a year
- !Revenue slipped about 11% over the year
- ✓Very profitable - turns about 22% of sales into profit
- ·Low P/E of 8 vs last year's earnings
- ✓Low debt - a sturdier balance sheet
- Value screens high
- Income screens high
- Growth screens low
Does Expand Energy pay a dividend?
Yes - Expand Energy currently pays a dividend of about 2.4% a year, which is £24 a year for every £1,000 invested (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it. An ISA doesn't shelter the US tax on this one →
What do the numbers say about Expand Energy's dividend?
There's no rating here, and we don't judge whether the dividend will continue - that would be advice. Here are the figures income investors usually look at, and what each one means, so you can weigh it up yourself.
Figures are from the latest available data and can be distorted by one-off results. Past payments don't predict future ones, and a dividend can be cut at any time. This lays out the numbers to help you understand them - it is not a view on what will happen.
Most recent ex-dividend date: 14 May 2026. To receive a dividend you must already own the shares before the ex-dividend date; become a holder on or after it and the previous owner keeps that payment. Why the price usually falls that morning →
Does Expand Energy have more cash or more debt?
It holds about $663.00M in cash against about $3.73B of debt - so it has net debt of about $3.06B. Debt is not automatically a problem - it funds growth - but it has to be serviced and repaid, which matters more when profits wobble.
From the latest reported balance sheet. Cash and debt levels change, and some borrowing is normal - this is context, not a judgment.
What do Expand Energy's numbers mean?
How has it performed?
Growth of £1,000, the worst fall, and year by year
Over about 2 years to 2026-09-11. This is the share price only - reinvesting the dividends would add to it. And it's the USD return - as a UK investor your actual £ return also moves with the exchange rate. Past performance is not a guide to the future, and it could just as easily have fallen.
How much has Expand Energy actually fallen?
Over the last 2 years of daily prices, Expand Energy fell as much as −29% from a high to a later low. Falls like this are normal when you own a share.
Past falls are not a forecast - it can fall further, or recover.
How has it done year by year?
Calendar-year total return - the share price with dividends reinvested - from adjusted closing prices. The current year is only part-complete. Past returns are not a guide to the future.
A closer look at the numbers
Ownership, earnings history, where the money goes, and the outlook range
Does the share price tell you if it's cheap or expensive?
Who owns Expand Energy?
About 96% of Expand Energy, or about 96 in every 100 shares, is held by big institutions such as pension and index funds. The rest, roughly 3%, is held by the public and smaller investors.
What this does and doesn't tell you
This is a recent snapshot of the share register, and it moves. We don't read anything into who owns what - a high institutional share is common for any large listed company and is not a signal about it.
Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.
Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.
How much money does Expand Energy make?
Revenue and profit by quarter, and how much of each sale turns into profit.
Where does each £100 of Expand Energy's sales go?
A rough split of the latest full-year figures: of every £100 of sales, about £53 covers making the product or service, £25 goes on running costs, tax and interest, and about £22 is left as profit. Margins vary a lot by industry, and one-off items can distort a single year.
When does Expand Energy report earnings, and how did recent quarters go?
Expand Energy is next scheduled to report on about 2026-10-27 - dates can move, and we don't predict results; this just tells you when to look.
‘Beat’ and ‘missed’ are against what analysts expected, not whether the business is doing well.
| Reported | Expected EPS: The earnings per share analysts expected for the quarter - the average of their forecasts. 'Beating' or 'missing' is measured against this number. | Actual EPS | vs expected |
|---|---|---|---|
| 2026-07-28 | $1.12 | $1.33 | Beat +19% |
| 2026-04-28 | $3.63 | $3.83 | Beat +5% |
| 2026-02-17 | $1.89 | $2.00 | Beat +6% |
| 2025-10-28 | $0.85 | $0.97 | Beat +14% |
| 2025-07-29 | $1.15 | $1.10 | Missed -4% |
| 2025-04-29 | $1.87 | $2.02 | Beat +8% |
Across the last 6 quarters here, Expand Energy came in ahead of what analysts expected 5 times. One quarter is noise, not a trend.
See who else reports over the next two weeks →
Where these figures come from
Each quarter a company reports its results against a consensus of analyst forecasts. The figures here are reported versus expected earnings per share from published results; the expectation is that analyst consensus, not our view. Report dates are estimates and can move.
What are the scenarios for Expand Energy?
An illustrative range for the year ahead — not a prediction or a price target.
What are the pros, cons and common questions?
The case each way, and the questions people ask
US natural-gas demand grows steadily via LNG exports and power/data-centre demand, and the combined company operates efficiently at scale.
Persistent oversupply of US natural gas or a slower-than-expected buildout of LNG export demand keeps prices structurally low.
What are the pros and cons of Expand Energy?
A balance check, not a score or verdict.
- Very low trailing P/E: Price-to-earnings: the share price divided by yearly profit per share. Lower can mean cheaper; higher often means investors expect fast growth. (6.5) versus the broader market
- Strong net margin: How much of each £1 of sales becomes profit after all costs. Higher = more profitable per sale. (24.9%) and fast revenue growth: How fast the company's sales grew versus a year ago. (+41%)
- Relatively high dividend yield: The yearly dividend as a percentage of the share price - roughly the income you'd earn from dividends alone. (3.6%)
- Largest-scale US natural-gas producer following the merger, with strong growth and income factor scores (G94, I82)
- Very weak momentum score (M12) and a roughly -14% 12-month share-price decline despite strong reported fundamentals
- Forward P/E: Like P/E, but using analysts' forecast of NEXT year's profit instead of last year's. A much lower forward figure implies profits are expected to jump. notably higher than trailing P/E: Price-to-earnings: the share price divided by yearly profit per share. Lower can mean cheaper; higher often means investors expect fast growth., implying expected earnings moderation
- Natural-gas prices have historically been volatile and can swing profitability sharply
- Integration risk from the relatively recent large merger
- Natural-gas price volatility, including seasonal and storage-driven swings
- Merger-integration execution risk following the Chesapeake/Southwestern combination
- Pace of LNG export-capacity buildout affecting demand for US gas
- Broader energy-transition and regulatory risk affecting fossil-fuel producers
The write-up's own warning lights — if these start happening, the case above changes.
- A continued share-price decline alongside deteriorating (not just weak-momentum) fundamentals would undercut the fundamentals-versus-price divergence framing
- Evidence that merger integration costs are running well above plan
- A sustained further fall in natural-gas prices that compresses the currently strong net margin
Common questions about Expand Energy
Does Expand Energy pay a dividend?
Yes - Expand Energy currently pays a dividend of about 2.4% a year. Dividends are a share of profit paid to holders; the yield moves with the price and payouts can be cut.
When does Expand Energy report earnings next?
Expand Energy is next scheduled to report results on about 2026-10-27. Report dates are estimates and can move; this is a diary note for when to look, not a forecast of the outcome.
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