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

Cheniere Energy brought in $20B of revenue in fiscal 2025, New Fortress Energy $1.5B in fiscal 2025. Revenue changed by +27.2% at Cheniere Energy and -36.2% at New Fortress Energy on the year before, so Cheniere Energy grew faster. Cheniere Energy kept 26.7% of its revenue as net profit, New Fortress Energy -122.7%. Free cash flow was $2.5B at Cheniere Energy and -$1.2B at New Fortress Energy.

Side by side, latest fiscal year

LNGNFE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$20B$1.5B
Revenue growth+27.2%-36.2%
Net income$5.3B-$1.8B
Net margin26.7%-122.7%
Free cash flow$2.5B-$1.2B
Free cash flow margin12.3%-82.1%
Earnings per share (diluted)$24.13-$6.63
Cash$1.1B$226.5M
Debt$22.5B$8.2B
Price to earnings11.1n/a
Market value$55.5B$1.9B
Dividend yieldn/an/a
Rank by revenue in sector#11 of 109 · Utilities#66 of 109 · Utilities

Over the years

Revenue
LNG FY2018: $8BLNG FY2019: $9.7BLNG FY2020: $9.4BLNG FY2021: $17.5BLNG FY2022: $33.4BLNG FY2023: $20.4BLNG FY2024: $15.7BLNG FY2025: $20BNFE FY2019: $112.3MNFE FY2019: $189.1MNFE FY2020: $451.7MNFE FY2021: $1.3BNFE FY2022: $2.4BNFE FY2023: $2.4BNFE FY2024: $2.4BNFE FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
LNG $20BNFE $1.5B
Net income
LNG FY2018: $471MLNG FY2019: $648MLNG FY2020: -$85MLNG FY2021: -$2.3BLNG FY2022: $1.4BLNG FY2023: $9.9BLNG FY2024: $3.3BLNG FY2025: $5.3BNFE FY2019: -$78.1MNFE FY2019: -$33.8MNFE FY2020: -$182.1MNFE FY2021: $97.1MNFE FY2022: $194.5MNFE FY2023: $547.9MNFE FY2024: -$272.3MNFE FY2025: -$1.8BFY18FY19FY20FY21FY22FY23FY24FY25
LNG $5.3BNFE -$1.8B
Net margin
LNG FY2018: 5.9%LNG FY2019: 6.7%LNG FY2020: -0.9%LNG FY2021: -13.4%LNG FY2022: 4.3%LNG FY2023: 48.5%LNG FY2024: 20.7%LNG FY2025: 26.7%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
LNG 26.7%NFE -122.7%
Revenue growth
LNG FY2019: +21.8%LNG FY2020: -3.8%LNG FY2021: +87.3%LNG FY2022: +90.7%LNG FY2023: -39.0%LNG FY2024: -23.0%LNG FY2025: +27.2%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
LNG +27.2%NFE -36.2%
Free cash flow
LNG FY2018: -$1.7BLNG FY2019: -$1.2BLNG FY2020: -$574MLNG FY2021: $1.5BLNG FY2022: $8.7BLNG FY2023: $6.3BLNG FY2024: $3.2BLNG FY2025: $2.5BNFE FY2019: -$274.4MNFE FY2019: -$611.3MNFE FY2020: -$282.6MNFE FY2021: -$584.6MNFE FY2022: -$818.9MNFE FY2023: -$2.1BNFE FY2024: -$1.5BNFE FY2025: -$1.2BFY18FY19FY20FY21FY22FY23FY24FY25
LNG $2.5BNFE -$1.2B

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

Questions about Cheniere Energy and New Fortress Energy

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

Cheniere Energy is bigger by revenue: $20B in fiscal 2025, against $1.5B for New Fortress Energy in fiscal 2025.

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

Cheniere Energy had a net margin of 26.7% in fiscal 2025; New Fortress Energy had -122.7% in fiscal 2025.

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

In their latest fiscal years revenue changed by +27.2% at Cheniere Energy 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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