Cheniere Energy Partners LP (CQP) financial statements
Cheniere Energy Partners LP reported revenue of $10.8B in fiscal 2025, up 28.9% a year over 9 years.
Net income was $3.0B and the operating margin 34.4%, against 22.8% in 2016.
Free cash flow was $2.6B.
The diluted share count rose 748% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cheniere Energy Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $4.3B | $6.4B | $6.8B | $6.2B | $9.4B | $17.2B | $9.7B | $8.7B | $10.8B |
| Cost of revenue | $410M | $2.3B | $3.4B | $3.4B | $2.5B | $5.4B | $12.1B | $2.7B | $3.6B | $5.1B |
| Gross profit | $686M | $2.0B | $3.0B | $3.5B | $3.7B | $4.0B | $5.1B | $6.9B | $5.1B | $5.6B |
| Research and development | $0 | $3M | $2M | $0 | $0 | $1M | — | — | — | — |
| Selling, general and admin | $13M | $12M | $11M | $11M | $14M | $94M | $97M | $99M | $100M | $105M |
| Operating income | $250M | $1.2B | $2.0B | $2.0B | $2.1B | $2.6B | $3.4B | $5.0B | $3.3B | $3.7B |
| Interest expense | $357M | $614M | $733M | $885M | $909M | $831M | $870M | $823M | $800M | $753M |
| Income tax | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Net income | -$171M | $490M | $1.3B | $1.2B | $1.2B | $1.6B | $2.5B | $4.3B | $2.5B | $3.0B |
| EPS (diluted) | -$0.20 | -$1.32 | $2.51 | $2.25 | $2.32 | $3.00 | — | — | — | — |
| Diluted shares | 57M | 178M | 349M | 349M | 399M | 484M | — | — | — | — |
| Gross margin | 62.6% | 46.1% | 47.1% | 50.7% | 59.4% | 42.9% | 29.7% | 71.6% | 58.9% | 52.2% |
| Operating margin | 22.8% | 26.9% | 30.8% | 29.8% | 34.5% | 27.1% | 19.6% | 52.1% | 37.7% | 34.4% |
| Net margin | -15.6% | 11.4% | 19.8% | 17.2% | 19.2% | 17.3% | 14.5% | 44.0% | 28.8% | 27.8% |
Balance sheet
Fiscal years, from Cheniere Energy Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $0 | $0 | $0 | $1.8B | $1.2B | $876M | $904M | $575M | $270M | $182M |
| Receivables | $90M | $191M | $348M | $297M | $318M | $580M | $551M | $0 | $1M | $0 |
| Inventory | $97M | $95M | $99M | $116M | $107M | $176M | $160M | $142M | $151M | $180M |
| Total current assets | $958M | $2.1B | $2.4B | $2.7B | $2.1B | $2.2B | $2.6B | $1.6B | $1.3B | $1.3B |
| Property, plant and equipment | $14.2B | $15.1B | $15.4B | $16.4B | $16.7B | $16.8B | $16.7B | $16.2B | $15.8B | $15.3B |
| Total assets | $15.5B | $17.6B | $18.0B | $19.4B | $19.1B | $19.4B | $19.6B | $18.1B | $17.5B | $17.4B |
| Total current liabilities | $856M | $829M | $1.1B | $966M | $883M | $1.3B | $2.4B | $1.6B | $1.7B | $1.7B |
| Long-term debt | $14.2B | $16.0B | $16.1B | $17.6B | $17.6B | $17.2B | $16.2B | $15.6B | $14.8B | $14.2B |
| Total liabilities | — | — | — | — | — | — | — | $18.9B | $18.0B | $17.0B |
| Net debt | $14.4B | $16.0B | $16.1B | $15.8B | $16.4B | $16.3B | $15.3B | $15.3B | $14.8B | $14.3B |
Cash flow
Fiscal years, from Cheniere Energy Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $0 | $977M | $1.9B | $1.5B | $1.8B | $2.3B | $4.1B | $3.1B | $3.0B | $2.8B |
| Capital spending | $2.3B | $1.3B | $804M | $1.3B | $972M | $648M | $451M | $220M | $154M | $199M |
| Free cash flow | -$2.3B | -$313M | $1.1B | $216M | $779M | $1.6B | $3.7B | $2.9B | $2.8B | $2.6B |
| Net borrowing | $2.8B | $1.6B | $10M | $1.5B | -$5M | -$418M | -$1.0B | -$303M | -$802M | -$655M |
| Free cash flow margin | -211.2% | -7.3% | 16.6% | 3.2% | 12.6% | 17.4% | 21.5% | 29.9% | 32.3% | 23.9% |
Questions
What was Cheniere Energy Partners LP's revenue in 2025?
$10.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Cheniere Energy Partners LP generate?
$2.6B in fiscal 2025 (operating cash flow minus capital spending).
From Cheniere Energy Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.