Cheniere Energy Partners (CQP) has wrapped up FY 2025 with Q4 revenue of US$2.9b and basic EPS of US$2.38, while trailing twelve month revenue sits at US$10.8b and EPS at US$5.17. Over recent periods the company has seen quarterly revenue move between US$2.4b and US$3.0b and basic EPS range from US$0.80 to US$2.38. This gives investors a clear view of how top line and per share earnings have tracked into the latest release. With net income for the year and on a trailing basis remaining solid in absolute terms, the focus now shifts to how durable these margins look against the key narratives around growth, risk and income.

See our full analysis for Cheniere Energy Partners.

With the headline numbers on the table, the next step is to see how this earnings profile lines up with the main stories investors tell about Cheniere Energy Partners, and where the fresh data pushes back against those expectations.

TTM revenue tops US$10.8b with 23.3% margin

• On a trailing twelve month basis, Cheniere Energy Partners generated about US$10.8b of revenue and US$2.5b of net income, which works out to a 23.3% net margin compared with 23.7% a year earlier.
• For investors taking a bullish view, one point of interest is that trailing EPS increased 21.6% over the last year to US$5.17, while revenue growth is estimated at 2.9% per year. This suggests that investors focused on profit growth should note that margins appear fairly steady rather than rapidly expanding.

Quarterly EPS swings from US$0.80 to US$2.38

• Within FY 2025, basic EPS moved from US$1.09 in Q1 to US$0.90 in Q2, US$0.80 in Q3 and then up to US$2.38 in Q4, while revenue stayed in a narrower band between US$2.4b and US$3.0b.
• Bears highlight that earnings are forecast to decline by about 2.2% per year over the next three years, and the wide range in quarterly EPS, from US$0.80 to US$2.38, gives them room to argue that future profits may not track the recent 16.3% five year EPS growth without some bumps along the way.

P/E of 12.2x versus 23.3x peers

• The stock trades on a trailing P/E of 12.2x at a share price of US$63.19, compared with a 23.3x peer average, 19.3x for the broader US market and 13.9x for the US Oil & Gas industry, while the DCF fair value is quoted at US$2.45.
• Critics point to two bearish markers here, with earnings expected to decline and debt not well covered by operating cash flow. When that is set against a market price far above the DCF fair value of US$2.45, it provides cautious investors with a concrete basis for questioning how much comfort to take from the lower than peer P/E multiple.

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Cheniere Energy Partners's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

If this mix of solid figures, expected earnings pressure and valuation questions feels conflicting, act now by reviewing the data yourself and weighing up the 3 key rewards and 3 important warning signs: 3 key rewards and 3 important warning signs

See What Else Is Out There

Despite the solid headline figures, investors still face concerns around expected earnings declines, uneven quarterly EPS, and debt that is not well covered by operating cash flow.

If you want ideas where balance sheets appear sturdier and cash coverage seems more comfortable, start comparing companies in the solid balance sheet and fundamentals stocks screener (44 results) today and see how they stack up.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.