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Cheniere Energy Partners vs New Fortress Energy: revenue, profit, margins and growth compared

Cheniere Energy Partners brought in $10.8B of revenue in fiscal 2025, New Fortress Energy $1.5B in fiscal 2025. Revenue changed by +23.6% at Cheniere Energy Partners and -36.2% at New Fortress Energy on the year before, so Cheniere Energy Partners grew faster. Cheniere Energy Partners kept 27.8% of its revenue as net profit, New Fortress Energy -122.7%. Free cash flow was $2.6B at Cheniere Energy Partners and -$1.2B at New Fortress Energy.

Side by side, latest fiscal year

CQPNFE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$10.8B$1.5B
Revenue growth+23.6%-36.2%
Net income$3B-$1.8B
Net margin27.8%-122.7%
Free cash flow$2.6B-$1.2B
Free cash flow margin23.9%-82.1%
Earnings per share (diluted)n/a-$6.63
Cash$182M$226.5M
Debt$14.2B$8.2B
Price to earningsn/an/a
Market value$30.7B$1.9B
Dividend yieldn/an/a
Rank by revenue in sector#28 of 109 · Utilities#66 of 109 · Utilities

Over the years

Revenue
CQP FY2018: $6.4BCQP FY2019: $6.8BCQP FY2020: $6.2BCQP FY2021: $9.4BCQP FY2022: $17.2BCQP FY2023: $9.7BCQP FY2024: $8.7BCQP FY2025: $10.8BNFE FY2019: $112.3MNFE FY2019: $189.1MNFE FY2020: $451.7MNFE FY2021: $1.3BNFE FY2022: $2.4BNFE FY2023: $2.4BNFE FY2024: $2.4BNFE FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
CQP $10.8BNFE $1.5B
Net income
CQP FY2018: $1.3BCQP FY2019: $1.2BCQP FY2020: $1.2BCQP FY2021: $1.6BCQP FY2022: $2.5BCQP FY2023: $4.3BCQP FY2024: $2.5BCQP FY2025: $3BNFE FY2019: -$78.1MNFE FY2019: -$33.8MNFE FY2020: -$182.1MNFE FY2021: $97.1MNFE FY2022: $194.5MNFE FY2023: $547.9MNFE FY2024: -$272.3MNFE FY2025: -$1.8BFY18FY19FY20FY21FY22FY23FY24FY25
CQP $3BNFE -$1.8B
Net margin
CQP FY2018: 19.8%CQP FY2019: 17.2%CQP FY2020: 19.2%CQP FY2021: 17.3%CQP FY2022: 14.5%CQP FY2023: 44.0%CQP FY2024: 28.8%CQP FY2025: 27.8%NFE FY2019: -69.5%NFE FY2019: -17.9%NFE FY2020: -40.3%NFE FY2021: 7.3%NFE FY2022: 8.2%NFE FY2023: 22.9%NFE FY2024: -11.5%NFE FY2025: -122.7%FY18FY19FY20FY21FY22FY23FY24FY25
CQP 27.8%NFE -122.7%
Revenue growth
CQP FY2019: +6.4%CQP FY2020: -9.8%CQP FY2021: +53.0%CQP FY2022: +82.4%CQP FY2023: -43.8%CQP FY2024: -9.9%CQP FY2025: +23.6%NFE FY2019: +68.4%NFE FY2020: +138.8%NFE FY2021: +192.9%NFE FY2022: +79.0%NFE FY2023: +0.9%NFE FY2024: -1.3%NFE FY2025: -36.2%FY19FY20FY21FY22FY23FY24FY25
CQP +23.6%NFE -36.2%
Free cash flow
CQP FY2018: $1.1BCQP FY2019: $216MCQP FY2020: $779MCQP FY2021: $1.6BCQP FY2022: $3.7BCQP FY2023: $2.9BCQP FY2024: $2.8BCQP FY2025: $2.6BNFE FY2019: -$274.4MNFE FY2019: -$611.3MNFE FY2020: -$282.6MNFE FY2021: -$584.6MNFE FY2022: -$818.9MNFE FY2023: -$2.1BNFE FY2024: -$1.5BNFE FY2025: -$1.2BFY18FY19FY20FY21FY22FY23FY24FY25
CQP $2.6BNFE -$1.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Cheniere Energy Partners and New Fortress Energy

Which is bigger by revenue, Cheniere Energy Partners or New Fortress Energy?

Cheniere Energy Partners is bigger by revenue: $10.8B in fiscal 2025, against $1.5B for New Fortress Energy in fiscal 2025.

Which keeps more of its revenue as profit, Cheniere Energy Partners or New Fortress Energy?

Cheniere Energy Partners had a net margin of 27.8% in fiscal 2025; New Fortress Energy had -122.7% in fiscal 2025.

Which grew revenue faster, Cheniere Energy Partners or New Fortress Energy?

In their latest fiscal years revenue changed by +23.6% at Cheniere Energy Partners and -36.2% at New Fortress Energy.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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