---
title: EQT (EQT) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/eqt
ticker: EQT
as_of: 2026-10-17
sector: Energy
industry: Oil & Gas Exploration & Production
---
# EQT (EQT)

EQT (EQT) closed at $54.32 on Oct 16, 2026, overvalued by 39% vs its model value of $39.09 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $54.32 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $39.09 |
| Price vs model | overvalued by 39% vs model |
| Range of that model | $20.77 – $115.81 |
| Market value | $34.0B |
| P/E (fiscal 2025) | 16.4 |
| Net margin (fiscal 2025) | 22.5% |
| Free cash flow (fiscal 2025) | $2.8B |
| Dividend yield (trailing twelve months) | 1.22% |
| Beta | 0.58 |
| Cost of capital (WACC) | 7.37% |
| Business classification | Cyclical (High revenue growth (~31% recent), High profitability (24% net margin), Pays dividends, Highly cyclical earnings, Strong FCF yield (8.4%)) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.22% |
| Dividends per share, last 12 months | $0.66 |
| Dividends / free cash flow (fiscal 2025) | 13.7% |
| Raised | 3 years in a row |
| Growth over 4 years | 11.3% a year |
| Latest payment | $0.165, ex-date Aug 5, 2026, paid Sep 1, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Aug 8, 2022 | $0.43 |
| To Aug 8, 2023 | $0.60 |
| To Aug 7, 2024 | $0.63 |
| To Aug 6, 2025 | $0.63 |
| Trailing twelve months (to Aug 5, 2026) | $0.66 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $39.09 | $20.77 | $115.81 |
| DCF · Perpetuity growth · 10y | cross check | $43.68 | $24.43 | $123.19 |
| DCF · EBITDA exit · 5y | cross check | $37.19 | $12.64 | $66.41 |
| DCF · EBITDA exit · 10y | cross check | $41.38 | $17.66 | $74.04 |
| P/E · peers | cross check | $53.51 | $49.66 | $54.95 |
| P/E · own history | cross check | $37.72 | $32.07 | $393.26 |
| PEG | sanity check | $63.97 | $63.97 | $63.97 |
| EV/EBITDA · peers | cross check | $48.93 | $39.62 | $53.75 |
| EV/Revenue · peers | cross check | $26.50 | $23.13 | $32.72 |
| Earnings power value | cross check | $0.00 | $0.00 | $0.00 |
| Dividend discount | cross check | $19.92 | $13.32 | $31.66 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 1 open-market sale ($9.6M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 1, 2026 | MCCARTNEY JOHN | Director | Grant / award | 48 | $2,330.9 |
| Oct 1, 2026 | Rice Daniel J. IV | Director | Grant / award | 592 | $28,747.5 |
| Aug 14, 2026 | Rice Toby Z. | PRESIDENT & CEO | Open-market sell (10b5-1 plan) | 175,328 | $9.6M |
| Jul 27, 2026 | Bolen J.E.B. | EVP OPERATIONS | Tax withholding | 3,904 | $203,008 |
| Jul 27, 2026 | Fenton Sarah | EVP UPSTREAM | Tax withholding | 3,904 | $203,008 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 13, 2026 | 8-K | 2.02 Results of Operations (Earnings) | https://www.sec.gov/Archives/edgar/data/33213/000003321326000046/eqt-20261013.htm |
| Oct 7, 2026 | 8-K | 1.01 Entry into a Material Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/33213/000110465926114364/tm2627066d1_8k.htm |
| Jul 22, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/33213/000003321326000043/eqt-20260630.htm |
| Jul 21, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/33213/000003321326000041/eqt-20260721.htm |
| Jul 14, 2026 | 8-K | 2.02 Results of Operations (Earnings) | https://www.sec.gov/Archives/edgar/data/33213/000003321326000035/eqt-20260714.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Harry Burn | 2026-06-30 | 1,565,288 | $83.2M |
| Bridgewater | 2026-06-30 | 328,455 | $17.5M |
| Arnold Van Den Berg | 2026-06-30 | 222,416 | $11.8M |

3 tracked managers in all.

## About

EQT Corporation primarily functions as an extractor of natural gas within the United States. In addition to natural gas, the firm also obtains various natural gas liquids (NGLs), specifically ethane, propane, isobutane, butane, and natural gasoline. By the end of 2021, EQT possessed certified reserves amounting to 25.0 trillion cubic feet of natural gas, NGLs, and crude oil. These reserves are situated across roughly 2.0 million gross acres, with a significant 1.7 million gross acres located within the Marcellus shale formation. The company, which dates back to its founding in 1878, has its principal offices in Pittsburgh, Pennsylvania.

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Source: https://sweetvaluelab.com/stocks/eqt (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.