EQT vs Woodside Energy
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The short version
- Woodside Energy is the larger business, with $13.0B of revenue in fiscal 2025 against $8.6B for EQT, about 1.5 times as much.
- EQT grew revenue faster (63.9%, against β1.5%).
- EQT kept more of each dollar of sales as operating profit (37.6% operating margin, against 30.0%).
| Latest fiscal year | EQT Β· FY25 | WDS Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $35.0B | $45.3B |
| Revenue | $8.6B | $13.0B |
| Free cash flow | $2.8B | β |
| Net income | $2.0B | $2.7B |
| Growth | ||
| Revenue growth | 63.9% | β1.5% |
| 5-year growth | 23.1% | 29.3% |
| Share count change | 19.7% | 0.1% |
| Profitability | ||
| Gross margin | 82.3% | 34.9% |
| Operating margin | 37.6% | 30.0% |
| Net margin | 23.6% | 20.9% |
| FCF margin | 32.8% | β |
| Return on capital | 7.4% | 7.1% |
| Return on equity | 9.2% | 7.6% |
| Balance sheet | ||
| Net debt | $7.7B | $6.3B |
| Net debt / EBITDA | 1.3x | 0.7x |
| Dividends and buybacks | $390M | $2.1B |
| Valuation & quality | ||
| P/E | 12.9x | β |
| Piotroski F-score | 8 | 4 |
Revenue
FY16
EQT $1.4B
WDS β
FY17
EQT $3.1B
WDS β
FY18
EQT $4.6B
WDS β
FY19
EQT $4.4B
WDS β
FY20
EQT $3.1B
WDS $3.6B
FY21
EQT $3.1B
WDS $7.0B
FY22
EQT $7.5B
WDS $16.8B
FY23
EQT $6.9B
WDS $14.0B
FY24
EQT $5.3B
WDS $13.2B
FY25
EQT $8.6B
WDS $13.0B
EQT
WDS
Operating margin
FY16
EQT β54.4%
WDS β
FY17
EQT 12.4%
WDS β
FY18
EQT β61.1%
WDS β
FY19
EQT β26.1%
WDS β
FY20
EQT β28.7%
WDS β143.6%
FY21
EQT β44.4%
WDS 50.2%
FY22
EQT 36.3%
WDS 54.6%
FY23
EQT 33.5%
WDS 23.6%
FY24
EQT 13.0%
WDS 34.3%
FY25
EQT 37.6%
WDS 30.0%
EQT
WDS
Free cash flow
FY16
EQT $122M
WDS β
FY17
EQT $78.7M
WDS β
FY18
EQT β$22.8M
WDS β
FY19
EQT $249M
WDS β
FY20
EQT $495M
WDS β
FY21
EQT $607M
WDS β
FY22
EQT $2.1B
WDS β
FY23
EQT $1.2B
WDS β
FY24
EQT $573M
WDS β
FY25
EQT $2.8B
WDS β
EQT
WDS
Return on capital
FY16
EQT β5.8%
WDS β
FY17
EQT 2.2%
WDS β
FY18
EQT β11.4%
WDS β
FY19
EQT β5.9%
WDS β
FY20
EQT β4.8%
WDS β
FY21
EQT β7.3%
WDS β
FY22
EQT 13.4%
WDS 23.8%
FY23
EQT 10.6%
WDS 7.1%
FY24
EQT 2.3%
WDS 9.1%
FY25
EQT 7.4%
WDS 7.1%
EQT
WDS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.