Cheniere Energy Partners, L.P. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Cheniere Energy Partners, L.P. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,100	4,304	6,427	6,838	6,167	9,435	17,206	9,664	8,704	10,758
Cost of revenue	410	2,320	3,403	3,374	2,505	5,391	12,100	2,743	3,574	5,145
Gross profit	690	1,984	3,024	3,464	3,662	4,044	5,106	6,921	5,130	5,613
Research and development	0	3	2	0	0	1
General and administrative	13	12	11	11	14	94	97	99	100	105
Operating expenses	850	3,148	4,447	4,798
Operating income	250	1,156	1,979	2,040	2,125	2,557	3,380	5,036	3,280	3,706
Interest expense	357	614	733	885	909	831	870	823	800	753
Interest income						1	16	44	31	14
Other non-operating income	-421	-666	-705	-865	-942	-927	-882	-782	-770	-719
Income tax								0	0	0
Net income	-171	490	1,274	1,175	1,183	1,630	2,498	4,254	2,510	2,987
EBITDA	406	1,495	2,403	2,567	2,676	3,114	4,014	5,708	3,960	4,394
EPS, basic	-0.20	-1.32	2.51	2.25	2.32	3.00
EPS, diluted	-0.20	-1.32	2.51	2.25	2.32	3.00
Shares, basic (weighted)	57.1	179	349	349	399	484
Shares, diluted (weighted)	57.1	179	349	349	399	484

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0	0	0	1,781	1,210	876	904	575	270	182
Receivables	90	191	348	283	300	546	551	0	1	0
Inventory	97	95	99	116	107	176	160	142	151	180
Other current assets	29	65	20	51	61	80	50	43	23	21
Total current assets	958	2,139	2,356	2,707	2,135	2,212	2,620	1,581	1,325	1,338
Property, plant and equipment	14,158	15,139	15,390	16,368	16,723	16,830	16,725	16,212	15,760	15,259
Lease right-of-use assets			0	94	99	98	89	81	79	76
Other non-current assets	222	206	184	168	160	173	163	188	191	223
Total assets	15,542	17,553	17,974	19,384	19,145	19,358	19,633	18,102	17,453	17,437
Accounts payable	27	12	15	40	12	21	32	69	62	53
Accrued liabilities	418	637	821	709	658	1,073	1,458	866	906	1,047
Deferred revenue	73	111	116	155	137	155	147	117	123	119
Short-term debt	224	0	0	0	0	0	0	300	351	306
Total current liabilities	856	829	1,068	966	883	1,345	2,421	1,566	1,712	1,708
Long-term debt	14,209	16,046	16,066	17,579	17,580	17,177	16,198	15,606	14,761	14,161
Lease liabilities			0	87	90	89	80	71	76	73
Other non-current liabilities	0	11	4	1	1	0	23	183	276	254
Total liabilities								18,886	17,962	17,023
Total debt	14,209	16,046	16,066	17,579	17,580	17,177	16,198	15,606	14,761	14,161
Total liabilities and equity	15,542	17,553	17,974	19,384	19,145	19,358	19,633	18,102	17,453	17,437

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-171	490	1,274	1,175	1,183	1,630	2,498	4,254	2,510	2,987
Depreciation and amortization	156	339	424	527	551	557	634	672	680	688
Change in inventory	-58	13	-5	-16	8	-68	12	18	-10	-30
Change in payables	167	210	183	-126	0	321	354	-467	6	160
Cash from operations	0	977	1,874	1,547	1,751	2,291	4,149	3,109	2,968	2,768
Capital expenditures	-2,315	-1,290	-804	-1,331	-972	-648	-451	-220	-154	-199
Cash from investing	-2,353	-1,290	-804	-1,332	-972	-648	-451	-227	-162	-204
Debt issued	8,003	3,814	1,100	2,230	1,995	3,182	559	1,397	1,228	1,262
Debt repaid	-5,251	-2,173	-1,090	-730	-2,000	-3,600	-1,560	-1,700	-2,030	-1,917
Cash from financing	2,524	1,297	-1,118	206	-1,434	-1,976	-3,676	-3,247	-3,058	-2,742
Net change in cash	171	984	-48	421	-655	-333	22	-365	-252	-178
Free cash flow	-2,315	-313	1,070	216	779	1,643	3,698	2,889	2,814	2,569
Interest paid	242	510	719	829	904	812	777	748	841	710

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $63.43 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	49.8%	Gross profit / revenue.
Operating margin	33.6%	Operating income / revenue.
EBITDA margin	39.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	27.3%	Net income / revenue.
FCF margin	24.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	27.4%	Cash from operations / revenue.
Return on assets (ROA)	17.8%	Net income / average total assets.
Capex / revenue	3.2%	Capital expenditures / revenue.
D&A / revenue	6.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	23.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-14.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	13.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	3.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	11.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	10.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	19.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	20.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-6.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-12.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	9.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-8.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-11.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	27.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-1.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.22x	Current assets / current liabilities.
Quick ratio	0.36x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.36x	(Cash + short-term investments) / current liabilities.
Debt / assets	81.1%	Total debt / total assets.
Liabilities / assets	95.7%	Total liabilities / total assets.
Net debt	$13.89B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.05x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.23x	Operating income / interest expense.
Working capital	$278.0M	Current assets - current liabilities.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.65x	Revenue / average total assets.
Fixed asset turnover	0.76x	Revenue / average property, plant and equipment.
Inventory turnover	35.0x	Cost of revenue / average inventory.
Days inventory	10 days	365 x average inventory / cost of revenue.
Days payables	5 days	365 x average accounts payable / cost of revenue.
FCF conversion	88.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.7%	Capital expenditures / cash from operations, when that is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$30.70B	Share price x shares outstanding.
Enterprise value	$44.60B	Market cap + total debt - cash - short-term investments.
P/E	9.78x	Market cap / net income. Only when net income is positive.
P/S	2.67x	Market cap / revenue.
P/FCF	11.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.73x	Market cap / cash from operations, when positive.
EV/Sales	3.88x	Enterprise value / revenue.
EV/EBIT	11.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.78x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.1%	Free cash flow / market cap.
Earnings yield	10.2%	Net income / market cap (the inverse of P/E).

What was Cheniere Energy Partners, L.P.'s revenue in fiscal 2025?

Cheniere Energy Partners, L.P. reported revenue of $10.76B for fiscal 2025, 23.6% higher than the year before.

Was Cheniere Energy Partners, L.P. profitable in fiscal 2025?

Yes. Net income was $2.99B, a net margin of 27.8%.

How much free cash flow did Cheniere Energy Partners, L.P. generate in fiscal 2025?

Cash from operations of $2.77B minus capital expenditures of $199.0M left free cash flow of $2.57B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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