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

New Fortress Energy brought in $1.5B of revenue in fiscal 2025, Spire $2.5B in fiscal 2025. Revenue changed by -36.2% at New Fortress Energy and -4.5% at Spire on the year before, so Spire grew faster. New Fortress Energy kept -122.7% of its revenue as net profit, Spire 11.0%. Free cash flow was -$1.2B at New Fortress Energy and -$344.4M at Spire.

Side by side, latest fiscal year

NFESR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$1.5B$2.5B
Revenue growth-36.2%-4.5%
Net income-$1.8B$271.7M
Net margin-122.7%11.0%
Free cash flow-$1.2B-$344.4M
Free cash flow margin-82.1%-13.9%
Earnings per share (diluted)-$6.63$4.37
Cash$226.5M$5.7M
Debt$8.2B$3.9B
Price to earningsn/a17.7
Market value$1.9B$4.6B
Dividend yieldn/a4.07%
Rank by revenue in sector#66 of 109 · Utilities#53 of 109 · Utilities

Over the years

Revenue
NFE FY2019: $112.3MNFE FY2019: $189.1MNFE FY2020: $451.7MNFE FY2021: $1.3BNFE FY2022: $2.4BNFE FY2023: $2.4BNFE FY2024: $2.4BNFE FY2025: $1.5BSR FY2018: $2BSR FY2019: $2BSR FY2020: $1.9BSR FY2021: $2.2BSR FY2022: $2.2BSR FY2023: $2.7BSR FY2024: $2.6BSR FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
NFE $1.5BSR $2.5B
Net income
NFE FY2019: -$78.1MNFE FY2019: -$33.8MNFE FY2020: -$182.1MNFE FY2021: $97.1MNFE FY2022: $194.5MNFE FY2023: $547.9MNFE FY2024: -$272.3MNFE FY2025: -$1.8BSR FY2018: $214.2MSR FY2019: $184.6MSR FY2020: $88.6MSR FY2021: $271.7MSR FY2022: $220.8MSR FY2023: $217.5MSR FY2024: $250.9MSR FY2025: $271.7MFY18FY19FY20FY21FY22FY23FY24FY25
NFE -$1.8BSR $271.7M
Net margin
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%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
NFE -122.7%SR 11.0%
Revenue growth
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%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
NFE -36.2%SR -4.5%
Free cash flow
NFE FY2019: -$274.4MNFE FY2019: -$611.3MNFE FY2020: -$282.6MNFE FY2021: -$584.6MNFE FY2022: -$818.9MNFE FY2023: -$2.1BNFE FY2024: -$1.5BNFE FY2025: -$1.2BSR FY2018: -$42.8MSR FY2019: -$372.4MSR FY2020: -$168.5MSR FY2021: -$375MSR FY2022: -$497.2MSR FY2023: -$222.3MSR FY2024: $51.1MSR FY2025: -$344.4MFY18FY19FY20FY21FY22FY23FY24FY25
NFE -$1.2BSR -$344.4M

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

Questions about New Fortress Energy and Spire

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

Spire is bigger by revenue: $2.5B in fiscal 2025, against $1.5B for New Fortress Energy in fiscal 2025.

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

New Fortress Energy had a net margin of -122.7% in fiscal 2025; Spire had 11.0% in fiscal 2025.

Which grew revenue faster, New Fortress Energy or Spire?

In their latest fiscal years revenue changed by -36.2% at New Fortress Energy 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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