Expand Energy (EXE) stock
Energy · Oil & Gas Exploration & Production
Expand Energy (EXE) is an Oil & Gas Exploration & Production company in the Energy sector, headquartered in Oklahoma City, Oklahoma. As of October 23, 2026, EXE closed at $93.23, a market capitalization of $21.58 billion, the 392nd largest company in the S&P 500. Over the last twelve months it generated $12.66 billion in revenue (-11% year over year) and $2.48 billion in free cash flow. The stock trades at 8.0x trailing earnings and 10.2x forward earnings.
- 1-year total return: -8.7% (dividends reinvested)
- 5-year return: +13.7% a year
- 52-week range: $83.25 – $126.62
- Gross margin 47.1%, operating margin 26.3%
- Dividend yield: 2.47%
- FI Handbook report card: C+ across 10 metrics
- 20th largest of 21 Energy stocks in the S&P 500
EXE price chart
1Y price change: -10.8% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| EXE | +7.1% | -14.0% | -8.7% | +5.3% | +13.7% | — | +18.7% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2021.
EXE key statistics
- Market cap
- $21.6B
- #392 in S&P 500
- P/E (TTM)
- 8.0x
- Forward P/E
- 10.2x
- EPS (TTM)
- $11.60
- Revenue (TTM)
- $12.7B
- -11%
- Free cash flow
- $2.5B
- Gross margin
- 47.1%
- Operating margin
- 26.3%
- Return on equity
- 14.9%
- Dividend yield
- 2.47%
- 52-week range
- $83.25 – $126.62
- Beta
- 0.40
- Price / sales
- 1.7x
- EV / EBITDA
- 3.7x
- Debt / equity
- 0.19x
- Employees
- 1,600
EXE report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-10.6%F
- Gross margin47.1%B
- Operating margin26.3%B
- FCF margin19.6%B
- Return on equity14.9%C
- Net debt / EBITDA0.5xB
- Forward P/E10.2xA
- PEG ratio0.8xA
- Shareholder yield2.9%C
- Share count change / yr95.9%F
Expand Energy financials
Revenue went from $12.8B in fiscal 2015 to $12.1B in fiscal 2025, shrinking 0.5% a year.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.8B | $7.9B | $10.0B | $10.0B | $8.5B | $5.2B | $11.7B | $8.7B | $4.2B | $12.1B |
| Operating income | -$18.9B | -$4.4B | -$138.0M | $382.0M | -$31.0M | -$8.7B | $3.8B | $3.1B | -$803.0M | $2.5B |
| Net income | -$14.6B | -$4.4B | -$505.0M | $226.0M | -$308.0M | -$9.7B | $4.9B | $2.4B | -$714.0M | $1.8B |
| EPS (diluted) | $-22.26 | $-6.43 | $-0.70 | $29.26 | $-49.97 | $-998.26 | $33.36 | $16.92 | $-4.55 | $7.57 |
| Free cash flow | -$2.4B | -$1.6B | — | — | — | $22.0M | $2.3B | $551.0M | $8.0M | $1.8B |
| Buybacks | — | — | — | — | — | $0 | $1.1B | $355.0M | $0 | $100.0M |
| Dividends paid | $118.0M | $0 | $0 | — | $0 | $0 | $1.2B | $487.0M | $388.0M | $765.0M |
| Diluted shares | 662.0M | 764.0M | 906.0M | 4.5M | 8.3M | 9.8M | 146.0M | 143.0M | 157.0M | 240.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into EXE?
A reverse DCF asks what growth the current price requires. With an enterprise value of $24.6B and $2.5B of trailing free cash flow, Expand Energy needs to grow free cash flow about -6.3% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 12.3x vs. median 4.9x (10th–90th percentile 2.3x–12.4x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
EXE dividend
- Dividend yield
- 2.47%
- Annual dividend
- $2.30
- Years of increases
- —
- 5-yr dividend growth
- —
- per year
- Payout ratio
- 28%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
EXE earnings
Next report: October 27, 2026. Expand Energy has beaten EPS estimates 4 quarters in a row. Last quarter's revenue was $3.0B (-20% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 28, 2026 | $1.12 | $1.33 | +19.1% |
| Apr 28, 2026 | $3.63 | $3.83 | +5.4% |
| Feb 17, 2026 | $1.89 | $2.00 | +5.8% |
| Oct 28, 2025 | $0.85 | $0.97 | +14.2% |
| Jul 29, 2025 | $1.15 | $1.10 | -4.1% |
| Apr 29, 2025 | $1.87 | $2.02 | +8.0% |
| Feb 26, 2025 | $0.47 | $0.55 | +17.5% |
| Oct 29, 2024 | $-0.06 | $0.16 | +371.4% |
Stocks like EXE
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 COP ConocoPhillips | +3.55% | +73% | $181.2B | 20.0x | Compare |
 EOG EOG Resources | +3.21% | +56% | $85.5B | 12.7x | Compare |
 OXY Occidental Petroleum Corporatio | +2.67% | +53% | $64.1B | 18.2x | Compare |
 FANG Diamondback Energy | +4.37% | +43% | $57.6B | 40.0x | Compare |
 DVN Devon Energy | +4.49% | +58% | $56.5B | 11.2x | Compare |
 EQT EQT | +1.76% | +5% | $34.8B | 12.9x | Compare |
 TPL Texas Pacific Land | +1.38% | +9% | $23.3B | 43.1x | Compare |
 APA APA | +4.98% | +117% | $18.2B | 11.0x | Compare |
EXE news
- Expand Energy Gears Up for Q3 Earnings: What's in Store? · Oct 22, 2026
- Expand Energy (EXE) Earnings Expected to Grow: Should You Buy? · Oct 20, 2026
- Expand Energy Corporation Names Danny Brown President and Chief Executive Officer · Oct 19, 2026
- Expand Energy Stock Declines 17% YTD: How Should Investors Play It? · Oct 15, 2026
- Expand Energy Provides 2026 Third Quarter Earnings Conference Call Information · Oct 14, 2026
EXE stock FAQ
What is EXE's market cap?
Expand Energy's market capitalization is $21.58 billion as of October 23, 2026, ranking 392nd in the S&P 500.
What is EXE's P/E ratio?
EXE trades at a trailing price-to-earnings ratio of 8.0x and a forward P/E of 10.2x. Its median P/E over the period we track is 4.9x.
Does EXE pay a dividend?
Yes. Expand Energy pays $2.30 per share a year, a 2.47% yield.
How much has EXE stock returned?
Including reinvested dividends, EXE returned -8.7% over one year, +13.7% a year over five years through October 23, 2026.
Is EXE stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Expand Energy must grow free cash flow about -6% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does EXE report earnings?
Expand Energy is expected to report earnings on October 27, 2026. It has beaten EPS estimates 4 quarters in a row.
How many employees does Expand Energy have?
Expand Energy has about 1,600 full-time employees, or $7.9 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology