Stock Analysis on Net
Stock Analysis on Net

Expand Energy Corp. (NASDAQ:EXE)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Expand Energy Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Activity Ratio
Total Asset Turnover
Reported 0.15 0.42 0.91 0.66
Adjusted 0.16 0.45 1.00 0.66
Liquidity Ratio
Current Ratio
Reported 0.64 1.99 1.00 0.86
Adjusted 0.64 1.99 1.00 0.86
Solvency Ratios
Debt to Equity
Reported 0.32 0.19 0.34 0.40
Adjusted 0.34 0.22 0.41 0.41
Debt to Capital
Reported 0.24 0.16 0.25 0.29
Adjusted 0.26 0.18 0.29 0.29
Financial Leverage
Reported 1.59 1.34 1.70 1.94
Adjusted 1.61 1.37 1.82 1.94
Profitability Ratios
Net Profit Margin
Reported -16.76% 40.00% 34.95% 86.67%
Adjusted -19.42% 47.05% 25.52% 84.89%
Return on Equity (ROE)
Reported -4.06% 22.55% 54.10% 111.59%
Adjusted -4.87% 29.04% 46.35% 109.24%
Return on Assets (ROA)
Reported -2.56% 16.83% 31.91% 57.48%
Adjusted -3.03% 21.16% 25.52% 56.28%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Expand Energy Corp. adjusted total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Expand Energy Corp. adjusted current ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Expand Energy Corp. adjusted debt-to-equity ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Expand Energy Corp. adjusted debt-to-capital ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Expand Energy Corp. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Expand Energy Corp. adjusted net profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Expand Energy Corp. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Expand Energy Corp. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024.

Expand Energy Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Revenues 4,259 6,047 14,123 7,301
Total assets 27,894 14,376 15,468 11,009
Activity Ratio
Total asset turnover1 0.15 0.42 0.91 0.66
Adjusted
Selected Financial Data (US$ in millions)
Revenues 4,259 6,047 14,123 7,301
Adjusted total assets2 27,316 13,444 14,120 11,012
Activity Ratio
Adjusted total asset turnover3 0.16 0.45 1.00 0.66

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
Total asset turnover = Revenues ÷ Total assets
= 4,259 ÷ 27,894 = 0.15

2 Adjusted total assets. See details »

3 2024 Calculation
Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 4,259 ÷ 27,316 = 0.16

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Expand Energy Corp. adjusted total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Current assets 1,997 2,609 2,698 2,103
Current liabilities 3,123 1,314 2,704 2,447
Liquidity Ratio
Current ratio1 0.64 1.99 1.00 0.86
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 2,008 2,610 2,701 2,106
Current liabilities 3,123 1,314 2,704 2,447
Liquidity Ratio
Adjusted current ratio3 0.64 1.99 1.00 0.86

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 1,997 ÷ 3,123 = 0.64

2 Adjusted current assets. See details »

3 2024 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 2,008 ÷ 3,123 = 0.64

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Expand Energy Corp. adjusted current ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Total debt 5,680 2,028 3,093 2,278
Stockholders’ equity 17,565 10,729 9,124 5,671
Solvency Ratio
Debt to equity1 0.32 0.19 0.34 0.40
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 5,825 2,127 3,212 2,316
Adjusted stockholders’ equity3 16,997 9,797 7,776 5,674
Solvency Ratio
Adjusted debt to equity4 0.34 0.22 0.41 0.41

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 5,680 ÷ 17,565 = 0.32

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 5,825 ÷ 16,997 = 0.34

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Expand Energy Corp. adjusted debt-to-equity ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Total debt 5,680 2,028 3,093 2,278
Total capital 23,245 12,757 12,217 7,949
Solvency Ratio
Debt to capital1 0.24 0.16 0.25 0.29
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 5,825 2,127 3,212 2,316
Adjusted total capital3 22,822 11,924 10,988 7,990
Solvency Ratio
Adjusted debt to capital4 0.26 0.18 0.29 0.29

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 5,680 ÷ 23,245 = 0.24

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2024 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 5,825 ÷ 22,822 = 0.26

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Expand Energy Corp. adjusted debt-to-capital ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Total assets 27,894 14,376 15,468 11,009
Stockholders’ equity 17,565 10,729 9,124 5,671
Solvency Ratio
Financial leverage1 1.59 1.34 1.70 1.94
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 27,316 13,444 14,120 11,012
Adjusted stockholders’ equity3 16,997 9,797 7,776 5,674
Solvency Ratio
Adjusted financial leverage4 1.61 1.37 1.82 1.94

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 27,894 ÷ 17,565 = 1.59

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 27,316 ÷ 16,997 = 1.61

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Expand Energy Corp. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Net income (loss) (714) 2,419 4,936 6,328
Revenues 4,259 6,047 14,123 7,301
Profitability Ratio
Net profit margin1 -16.76% 40.00% 34.95% 86.67%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 (827) 2,845 3,604 6,198
Revenues 4,259 6,047 14,123 7,301
Profitability Ratio
Adjusted net profit margin3 -19.42% 47.05% 25.52% 84.89%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
Net profit margin = 100 × Net income (loss) ÷ Revenues
= 100 × -714 ÷ 4,259 = -16.76%

2 Adjusted net income (loss). See details »

3 2024 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Revenues
= 100 × -827 ÷ 4,259 = -19.42%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Expand Energy Corp. adjusted net profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Net income (loss) (714) 2,419 4,936 6,328
Stockholders’ equity 17,565 10,729 9,124 5,671
Profitability Ratio
ROE1 -4.06% 22.55% 54.10% 111.59%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 (827) 2,845 3,604 6,198
Adjusted stockholders’ equity3 16,997 9,797 7,776 5,674
Profitability Ratio
Adjusted ROE4 -4.87% 29.04% 46.35% 109.24%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × -714 ÷ 17,565 = -4.06%

2 Adjusted net income (loss). See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × -827 ÷ 16,997 = -4.87%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Expand Energy Corp. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Reported
Selected Financial Data (US$ in millions)
Net income (loss) (714) 2,419 4,936 6,328
Total assets 27,894 14,376 15,468 11,009
Profitability Ratio
ROA1 -2.56% 16.83% 31.91% 57.48%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 (827) 2,845 3,604 6,198
Adjusted total assets3 27,316 13,444 14,120 11,012
Profitability Ratio
Adjusted ROA4 -3.03% 21.16% 25.52% 56.28%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 2024 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × -714 ÷ 27,894 = -2.56%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × -827 ÷ 27,316 = -3.03%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Expand Energy Corp. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024.