VG on NYSE

Venture Global, Inc.

$12.48 down 0.79 (5.92%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

$13.8BRevenue, fiscal 20253
$2.7BNet income, fiscal 20253

Compare with Cheniere Energy Partners, L.P., Cheniere Energy or Atmos Energy, or pick any stock.

  • TickerVG on NYSE
  • IndustryNatural Gas Distribution
  • HeadquartersDE
  • Incorporated inDE4
  • Business address1001 19Th Street North, Suite 1500, Arlington, Va 222094
  • Filer categoryNon-accelerated filer4

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

37.4%Operating margin3
19.8%Net margin3
176.9%Revenue growth, 20253
40.5%Return on equity3
4.95×Debt to equity3
-$6.8BFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Liquefied Natural Gas brought in 99% of the revenue Venture Global, Inc. broke down this way in fiscal 2025.

  1. Liquefied Natural Gas$13.7B399%up 177% from 2024
  2. Product and Service, Other$82.0M31%up 228% from 2024
Products and services by year
Products and services202320242025
Liquefied Natural Gas$7.9B$4.9B$13.7B
Product and Service, Other$22.0M$25.0M$82.0M

Business segments

Plaquemines Project brought in 58% of the revenue Venture Global, Inc. broke down this way in fiscal 2025.

  1. Plaquemines Project$9.2B358%up 39791% from 2024
  2. Calcasieu Project$4.1B326%down 16% from 2024
  3. Sales And Shipping$2.5B316%up 665% from 2024
  4. CP2 Project$1.0M30%down 50% from 2024
Business segments by year
Business segments202320242025
Plaquemines Project$0$23.0M$9.2B
Calcasieu Project$7.9B$4.9B$4.1B
Sales And Shipping$0$329.0M$2.5B
CP2 Project$0$2.0M$1.0M

Regions

United States brought in 83% of the revenue Venture Global, Inc. broke down this way in fiscal 2025.

  1. United States$11.4B383%up 143% from 2024
  2. DEMember$772.0M36%up 331% from 2024
  3. France$682.0M35%up 742% from 2024
  4. Netherlands$456.0M33%
  5. Other Geographical Areas$320.0M32%up 721% from 2024
  6. United Kingdoms$164.0M31%
Regions by year
Regions202320242025
United States$7.9B$4.7B$11.4B
DEMember$0$179.0M$772.0M
France$0$81.0M$682.0M
Netherlands$0$0$456.0M
Other Geographical Areas$0$39.0M$320.0M
United Kingdoms$0$0$164.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development2¢$344.0M
  • Other costs73¢$10.1B
  • Income tax5¢$630.0M
  • Profit20¢$2.7B

Out of $13.8B in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending97¢$13.4B
  • Dividends paid3¢$465.0M

Out of $6.6B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue3$13.8B in 2025+74% since 2023
0$5.0B$10.0B$15.0B2023: $7.9B$7.9B20232024: $5.0B$5.0B2024−37%2025: $13.8B$13.8B2025+177%
Operating income3$5.2B in 2025+6% since 2023
0$2.0B$4.0B$6.0B2023: $4.8B$4.8B20232024: $1.8B$1.8B2024−64%2025: $5.2B$5.2B2025+192%
Net income3$2.7B in 2025−24% since 2023
0$1.0B$2.0B$3.0B$4.0B2023: $3.6B$3.6B20232024: $1.7B$1.7B2024−52%2025: $2.7B$2.7B2025+57%

Every line of the income statement in the latest annual report, as filed.3

Period ending2025-12-312024-12-312023-12-31
REVENUE$13.8B$5.0B$7.9B
Cost of sales (exclusive of depreciation and amortization shown separately below)$5.9B$1.4B$1.7B
Operating and maintenance expense$975.0M$589.0M$391.0M
General and administrative expense$433.0M$312.0M$224.0M
Development expense$344.0M$635.0M$490.0M
Depreciation and amortization$941.0M$322.0M$277.0M
Insurance recoveries, net$0$0-$19.0M
Total operating expense$8.6B$3.2B$3.0B
INCOME FROM OPERATIONS$5.2B$1.8B$4.8B
Interest income$151.0M$244.0M$172.0M
Interest expense, net-$1.5B-$584.0M-$641.0M
Gain (loss) on interest rate swaps-$220.0M$774.0M$174.0M
Loss on financing transactions-$267.0M-$14.0M-$123.0M
Loss on foreign currency transactions-$3.0M$0$0
Total other income (expense)-$1.8B$420.0M-$418.0M
INCOME BEFORE INCOME TAX EXPENSE$3.4B$2.2B$4.4B
Income tax expense$630.0M$437.0M$816.0M
NET INCOME$2.7B$1.7B$3.6B
Less: Net income attributable to redeemable stock of subsidiary$167.0M$144.0M$130.0M
Less: Net income attributable to non-controlling interests$36.0M$59.0M$805.0M
Less: Dividends on VGLNG Series A Preferred Shares$270.0M$68.0M$0
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS, BASIC$2.3B$1.5B$2.7B
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS, DILUTED$2.3B$1.5B$2.7B
Net income attributable to common stockholders per sharebasic (in usd per share)$0.93$0.63$1.30
Weighted average number of shares of common stock outstandingbasic (in shares)2.4B shares2.4B shares2.1B shares
Net income attributable to common stockholders per sharediluted (in usd per share)$0.86$0.57$1.25
Weighted average number of shares of common stock outstandingdiluted (in shares)2.6B shares2.6B shares2.1B shares

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Recent filings

  1. Oct 14, 2026144
  2. Oct 8, 20268-K
  3. Oct 7, 20268-K
  4. Sep 21, 20264 PRIMARY DOCUMENT
  5. Sep 17, 2026144
  6. Sep 17, 20264 PRIMARY DOCUMENT
  7. Sep 15, 2026SCHEDULE 13G
  8. Sep 14, 2026144
  9. Sep 14, 20264 PRIMARY DOCUMENT
  10. Sep 9, 2026144
  11. Sep 9, 20264 PRIMARY DOCUMENT
  12. Sep 8, 2026144
  13. Sep 2, 20268-K
  14. Aug 20, 2026144
  15. Aug 20, 20264 PRIMARY DOCUMENT

Every filing from the last three years, summarized. The full record is on SEC EDGAR.1

Sources

The numbers on this page point here. Each one links to the record it came from.

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