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

Cheniere Energy Partners brought in $10.8B of revenue in fiscal 2025, Spire $2.5B in fiscal 2025. Revenue changed by +23.6% at Cheniere Energy Partners and -4.5% at Spire on the year before, so Cheniere Energy Partners grew faster. Cheniere Energy Partners kept 27.8% of its revenue as net profit, Spire 11.0%. Free cash flow was $2.6B at Cheniere Energy Partners and -$344.4M at Spire.

Side by side, latest fiscal year

CQPSR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$10.8B$2.5B
Revenue growth+23.6%-4.5%
Net income$3B$271.7M
Net margin27.8%11.0%
Free cash flow$2.6B-$344.4M
Free cash flow margin23.9%-13.9%
Earnings per share (diluted)n/a$4.37
Cash$182M$5.7M
Debt$14.2B$3.9B
Price to earningsn/a17.7
Market value$30.7B$4.6B
Dividend yieldn/a4.07%
Rank by revenue in sector#28 of 109 · Utilities#53 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: $10.8BSR FY2018: $2BSR FY2019: $2BSR FY2020: $1.9BSR FY2021: $2.2BSR FY2022: $2.2BSR FY2023: $2.7BSR FY2024: $2.6BSR FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
CQP $10.8BSR $2.5B
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: $3BSR FY2018: $214.2MSR FY2019: $184.6MSR FY2020: $88.6MSR FY2021: $271.7MSR FY2022: $220.8MSR FY2023: $217.5MSR FY2024: $250.9MSR FY2025: $271.7MFY18FY19FY20FY21FY22FY23FY24FY25
CQP $3BSR $271.7M
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%SR FY2018: 10.9%SR FY2019: 9.5%SR FY2020: 4.8%SR FY2021: 12.2%SR FY2022: 10.0%SR FY2023: 8.2%SR FY2024: 9.7%SR FY2025: 11.0%FY18FY19FY20FY21FY22FY23FY24FY25
CQP 27.8%SR 11.0%
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%SR FY2019: -0.6%SR FY2020: -5.0%SR FY2021: +20.5%SR FY2022: -1.7%SR FY2023: +21.3%SR FY2024: -2.7%SR FY2025: -4.5%FY19FY20FY21FY22FY23FY24FY25
CQP +23.6%SR -4.5%
Free cash flow
CQP FY2018: $1.1BCQP FY2019: $216MCQP FY2020: $779MCQP FY2021: $1.6BCQP FY2022: $3.7BCQP FY2023: $2.9BCQP FY2024: $2.8BCQP FY2025: $2.6BSR FY2018: -$42.8MSR FY2019: -$372.4MSR FY2020: -$168.5MSR FY2021: -$375MSR FY2022: -$497.2MSR FY2023: -$222.3MSR FY2024: $51.1MSR FY2025: -$344.4MFY18FY19FY20FY21FY22FY23FY24FY25
CQP $2.6BSR -$344.4M

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

Questions about Cheniere Energy Partners and Spire

Which is bigger by revenue, Cheniere Energy Partners or Spire?

Cheniere Energy Partners is bigger by revenue: $10.8B in fiscal 2025, against $2.5B for Spire in fiscal 2025.

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

Cheniere Energy Partners had a net margin of 27.8% in fiscal 2025; Spire had 11.0% in fiscal 2025.

Which grew revenue faster, Cheniere Energy Partners or Spire?

In their latest fiscal years revenue changed by +23.6% at Cheniere Energy Partners and -4.5% at Spire.

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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