Excelerate Energy (EE) has wrapped up FY 2025 with fourth quarter revenue of US$317.6 million, basic EPS of US$0.29 and net income of US$9.1 million. Trailing twelve month revenue sits at about US$1.2 billion, with basic EPS of US$1.31 and net income of US$39.2 million. The company has seen quarterly revenue move from US$274.6 million in Q4 2024 to US$317.6 million in Q4 2025. EPS has run between US$0.15 and US$0.48 over the last four reported quarters. These headline numbers can be weighed against the current share price of US$39.52 and the recent margin picture. With net margins in the low single digits and drifting lower over the past year, the focus is on how sustainably the business can translate that revenue base into stronger profitability.

With the latest figures on the table, the next step is to see how Excelerate Energy's reported growth, margins and trends line up with the prevailing market and community narratives around the stock.

TTM earnings up 19.2% with mixed quarterly pattern

• Over the last 12 months, net income is US$39.2 million and EPS is US$1.31, with quarterly EPS ranging from US$0.15 to US$0.48 across FY 2025, and trailing earnings growth cited at 19.2% year over year.
• What is interesting for a more bullish take is that this 19.2% trailing earnings growth and a five year earnings growth rate of 43.3% per year sit alongside quite different quarterly outcomes, including Q2 2025 EPS of US$0.15 and Q1 2025 EPS of US$0.48, which suggests:
  • The growth figures line up with the idea that the business has grown profitability over time, using the TTM net income of US$39.2 million versus US$32.9 million a year earlier as one anchor point.
  • The quarter to quarter swings inside FY 2025, even with full year TTM growth, show that any bullish view still has to account for earnings that do not move in a straight line.

Strong full year growth paired with uneven quarters is exactly the kind of pattern bulls and skeptics often read very differently, so it is worth seeing how that story is being framed in more depth. 📊 Read the what the Community is saying about Excelerate Energy.

Margins at 3.2% while revenue approaches US$1.2b

• On a trailing 12 month basis, revenue is about US$1.2b and net income of US$39.2 million implies a net margin of 3.2%, compared with 3.9% a year earlier.
• Critics highlight that a 3.2% margin leaves limited room for error, and the move from 3.9% to 3.2% sits uneasily next to growth talking points, because:
  • The revenue base has expanded from US$851.4 million on a trailing basis a year ago to about US$1.2b now, yet margins are lower, which focuses attention on how efficiently that extra revenue turns into profit.
  • Bears looking at these figures can point to the modest margin level as a key risk if costs rise or if revenue growth, currently forecast at 21% per year, does not come through as expected.

P/E of 32.3x versus DCF fair value gap

• At a share price of US$39.52, Excelerate trades on a trailing P/E of about 32.3x, above the US Oil & Gas industry average of 14.1x and the peer average of 25.5x, while a DCF fair value of US$75.62 implies the price is around 47.7% below that estimate.
• What is surprising for a bullish narrative is this combination of a higher than average P/E and a large gap to the DCF fair value, because:
  • The P/E premium suggests investors are already paying more per dollar of trailing earnings than they do for many peers, even though the share price sits materially below the US$75.62 DCF fair value cited for the company.
  • Supporters can point to the 19.2% trailing earnings growth and forecasts of about 36.4% annual earnings growth as reasons that both the premium P/E and the gap to DCF fair value can coexist in the current numbers.

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 Excelerate Energy'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 growth, margins and valuation leaves you unsure, take a moment to review the facts yourself. Then move quickly to shape your own view as the story develops. To see what investors are currently optimistic about, check out the 3 key rewards.

See What Else Is Out There

Excelerate Energy's low and compressing net margin, along with a relatively high P/E, suggests you might want more earnings power or value support for your portfolio.

If that combination makes you cautious about paying up for thin margins, now is a good time to check out our 54 high quality undervalued stocks and see which companies offer stronger value support today.

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.