| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 83 | 11.9x | 17.8x | Top tier | |
Growth | 77 | 170.3% | 7.1% | Top tier | |
Quality | 64 | 17.3% | 4.5% | Around median | |
Safety | 35 | 4.0x | 2.6x | Bottom tier | |
Capital Return | 10 | 0.19% | 2.12% | Bottom tier | |
Momentum | 75 | 5.2% | 2.9% | Top tier | |
Sentiment | 82 | 8 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Venture Global develops facilities to produce and export liquefied natural gas and generates revenue from selling cargoes under long-, medium-, and short-term contracts. The company relies on a modular design for the Calcasieu Pass, Plaquemines, and CP2 facilities, while owning LNG carriers and feed gas transportation infrastructure. Its contract mix aims to secure a minimum level of cash flows while retaining a portion of capacity to benefit from shorter-term contract prices. The nameplate capacity of its first three projects was fully contracted, and total capacity committed under long- and medium-term contracts reached approximately 53 million tonnes per annum out of a targeted production rate of approximately 85 million tonnes per annum following the specified expansions.
In Q2 of fiscal year 2026, revenue increased 48% year over year to $4.6 billion, driven by an increase in sales volume to 466 trillion British thermal units from 329 trillion, in addition to $102 million from improved net LNG selling prices. Operating income reached $2.2 billion, up 111%, and net income attributable to common stockholders reached $1.3 billion, up 266%, while the company reported earnings per share of $0.51 compared with $0.14 in the corresponding period. It also achieved the highest quarterly adjusted EBITDA in its history at $2.5 billion, up 79%, with an EBITDA margin of 54%, and exported 127 cargoes during the quarter.
The results reflect growth driven by volumes and prices rather than a separately reported segment: higher volumes added $1.3 billion to revenue, while improved LNG prices after feed gas costs contributed to growth in operating income and EBITDA. In contrast, operating and maintenance costs increased by approximately $114 million year over year due to Plaquemines commissioning activities and more Venture Global carriers entering service, although general and administrative expenses remained largely stable. According to EDGAR data, revenue for the twelve months ended in 2026 reached approximately $21.4 billion, with net income of $3.6 billion.
Analysts' consensus rates VG as a “Buy,” with an average target of $16 and a wide range of $13 to $22. The average is approximately 9% below the 52-week high of $17.62, while the highest target exceeds that high by approximately 25%. This dispersion reflects the market's balancing of EBITDA growth toward a targeted range of $8.7–$9.1 billion in fiscal year 2026 against gas price volatility, project costs, and ongoing arbitration. Accordingly, valuation upside depends on executing CP2 and the expansions within the specified budgets and schedules.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Venture Global's revenue increased to $4.6 billion, up 48% from Q2 of fiscal year 2025. Of the increase, $1.3 billion resulted from higher sales volume of 466 trillion British thermal units, up from 329 trillion, while improved net LNG prices added $102 million. Net income attributable to common stockholders reached $1.3 billion, and adjusted EBITDA reached a record $2.5 billion with a 54% margin. Earnings per share were also $0.51, exceeding the $0.49 estimate and rising from $0.14 in the corresponding period.
The company raised its adjusted EBITDA range for fiscal year 2026 to $8.7–$9.1 billion, compared with the previous range of $8.2–$8.5 billion announced in May 2026. The range assumes liquefaction fees of $12.50–$13.50 per million British thermal units for the remaining cargoes to be sold during fiscal year 2026. The contracted position exceeded 91% of the portfolio, up from 84%, reducing the price sensitivity of the remaining volumes. Nevertheless, a $1 movement in liquefaction fees could change the EBITDA range by approximately $180–$210 million.
The company said on August 11, 2026 that CP2 remained targeted to begin production in the second half of 2027, confirming that this range extends from July 1 to December 31, 2027. One year after the final investment decision, the roofs of all four storage tanks had been raised and 16 factory-built liquefaction units had arrived at the site. The company targets a final investment decision for the 10 million-tonnes-per-annum CP2 expansion in early 2027 and first production from it in late 2028. The first phase of the Plaquemines expansion includes eight liquefaction trains with capacity of 6.4 million tonnes per annum, with a targeted investment decision in the first half of 2027 and production in 2029.
Automated analysis for informational purposes only — not investment advice.
More than 91% of the fiscal year 2026 portfolio was contracted as of August 11, 2026, compared with 84% in May 2026. In addition, 100% of the nameplate capacity of the first three projects is contracted, and long- and medium-term commitments reached approximately 53 million tonnes per annum out of a targeted rate of approximately 85 million tonnes following the expansions. During Q2 of fiscal year 2026, the company signed more than 2 million tonnes per annum of new or expanded agreements with TotalEnergies, Vitol, EnBW, and Atlantic-SEE. Venture Global retains excess and operational capacity under shorter-term contracts to benefit from higher prices, which adds potential returns but keeps a portion of earnings exposed to market volatility.
There are arbitration proceedings related to Calcasieu Pass, and Venture Global does not control their schedules. On August 11, 2026, management expected a decision in the next case before the end of 2026. A hearing for another case begins in late November 2026 and could extend into 2027 if it is not settled, and the available data did not specify a final financial impact. Executing CP2 and the CP2 and Plaquemines expansions also requires managing major projects, permits, and final investment decisions, while Q2 fiscal year 2026 results showed an increase of approximately $114 million in operating and maintenance costs. Therefore, achieving the targeted production rate of approximately 85 million tonnes per annum depends on adherence to schedules, budgets, and permitting requirements.
In 2026, the board of directors approved a 122% increase in the quarterly cash dividend to $0.04 per share. The company refinanced more than $5.3 billion of capital, including $2.25 billion of secured bonds and $1.5 billion of financing for nine carriers, with expected annual interest and coupon savings exceeding $100 million. Venture Global also repaid $1.4 billion of debt through July 2026, including approximately $1.3 billion of the CP2 bridge loan. Management said share repurchases could be used in the future as the capital program matures, but it did not announce a specific program during the August 11, 2026 call.
