Cheniere Energy, Inc. (LNG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+194.8%

$919.57

vs $311.90 price

Levered DCF

$969.05

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.34

Grey zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	8.04×	15.09×	4.19×	26.36×	-10.96×	-176.56×	24.14×	30.83×
P/B	5.4×	8.61×	8.18×	-12.68×	-10×	-79.33×	-1,117.58×	-27.64×
P/S	2.18×	3.11×	2.04×	1.12×	1.46×	1.61×	1.68×	1.82×
EV / EBITDA	6.24×	9.56×	3.76×	11.43×	328.92×	15.06×	15.11×	16.48×
Gross margin	29.0%	33.5%	40.0%	34.2%	31.9%	31.1%	24.1%	30.6%
Operating margin	27.0%	30.7%	37.7%	32.9%	30.0%	27.9%	20.7%	26.9%
Net margin	27.1%	20.6%	48.7%	4.2%	-13.3%	-0.9%	7.0%	5.9%
Current ratio	0.94×	1.08×	1.63×	0.83×	1.08×	1.44×	2.25×	2.43×
Debt / equity	3.61×	4.49×	5.2×	-9.41×	-12.43×	-165.75×	-2,232.64×	-54.13×
Interest coverage	5.59×	4.8×	6.7×	7.89×	3.68×	1.71×	1.35×	2.46×
Dividend yield	1.1%	0.8%	0.9%	0.9%	0.3%	0.0%	0.0%	0.0%
Payout ratio	8.5%	12.7%	4.0%	24.4%	-3.6%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	67.3%	57.1%	195.3%	-48.1%	91.1%	44.5%	-4628.6%	-89.5%
Return on invested capital	9.4%	10.2%	15.7%	26.3%	10.3%	7.1%	5.7%	6.9%
Return on assets	10.8%	7.4%	22.9%	3.5%	-6.0%	-0.2%	1.8%	1.5%
Free cash flow yield	5.8%	6.4%	15.2%	23.1%	5.8%	-3.8%	-7.8%	-11.4%
Earnings yield	12.5%	6.6%	23.9%	3.8%	-9.1%	-0.6%	4.1%	3.2%
Enterprise value	$69.7B	$72B	$63.7B	$64.3B	$56.2B	$45.2B	$44.4B	$42B
Net debt / EBITDA	2.42×	3.05×	1.32×	4.73×	178.63×	10.01×	9.79×	10.78×
Cash conversion cycle (days)	36	28	28	33	48	40	32	44