Expand Energy (EXE) 10-K Summaries & Annual Filing History
Review Expand Energy Corporation (EXE) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Expand Energy Corporation's annual revenue rebounded significantly after multiple years of decline. The company generated substantial operating cash flow despite a lower operating income relative to revenue.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$12.1B
Revenue reported for the fiscal year.
Operating income
$2.5B
Income from operations reported for the year.
Net income
$1.8B
Net income reported for the year.
Operating cash flow
$4.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $11.7B | +111.6% |
| Dec 31, 2023 | $8.7B | -25.7% |
| Dec 31, 2024 | $4.2B | -51.4% |
| Dec 31, 2025 | $12.1B | +186.3% |
Business overview
The company is an independent energy producer focused on the exploration and production of natural gas and oil. Its operations are primarily conducted in the United States, as described in the Business overview section.
Financial performance
Revenue for the latest fiscal year increased substantially compared to the prior year, reversing a multi-year trend of decline. Operating income and net income were positive, and operating cash flow remained strong.
Material risks
The Risk Factors section identifies exposure to commodity price volatility, which can affect revenue and profitability. Operational risks related to drilling and production activities are also noted.
Liquidity and capital
The Liquidity and Capital Resources discussion highlights the company's ability to fund operations and investments through internally generated cash flow. No explicit capital allocation strategy or material changes were detailed.
What to watch
Readers should monitor whether the revenue growth trend continues in the next filing.