A Business at a Glance
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Overview and History Excelerate, a Delaware corporation incorporated in 2021, was formed as a holding company to own, as its sole material asset, a controlling equity interest in Excelerate Energy Limited Partnership (“EELP”), a Delaware limited partnership formed in 2003 by George B. Kaiser (together with his affiliates other than the Company, “Kaiser”). Since April 2022 and in conjunction with its initial public offering (the “IPO”), Excelerate operates and controls all of EELP’s business and affairs. As a result, we consolidate the financial results of EELP and report non-controlling interests related to the interests held by the other partners of EELP in our consolidated financial statements. The approximately 28.1% of EELP partnership interests owned by us are classified as Class A interests. The remaining approximately 71.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.2B | 1.2B | 851M | 1.2B | 2.5B | 889M |
| Net Income | 39M | 39M | 33M | 30M | 13M | - |
| EPS | $1.28 | $1.28 | $1.27 | $1.11 | $0.51 | $0.00 |
| Free Cash Flow | 298M | 298M | 131M | -81M | 106M | 106M |
| ROIC | 5.5% | 13.2% | 15.3% | 14.9% | 14.1% | - |
| Gross Margin | 56.2% | 56.2% | 73.3% | 35.8% | 12.0% | 78.3% |
| Debt/Equity | 0.50 | 0.50 | 0.20 | 0.23 | 0.19 | 0.36 |
| Dividends/Share | $0.07 | $0.07 | $0.03 | $0.02 | $0.01 | $0.00 |
| Operating Income | 267M | 267M | 215M | 211M | 187M | 139M |
| Operating Margin | 21.7% | 21.7% | 25.3% | 18.2% | 7.5% | 15.7% |
| ROE | 1.8% | 1.9% | 1.7% | 1.7% | 0.8% | - |
| Shares Outstanding | 114M | 114M | 114M | 106M | 108M | 108M |
| Metric | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 889M | 2.5B | 1.2B | 851M | 1.2B | 1.2B |
| Gross Margin | 78.3% | 12.0% | 35.8% | 73.3% | 56.2% | 56.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 47M | 66M | 87M | 94M | 94M | 94M |
| EBIT | 139M | 187M | 211M | 215M | 267M | 267M |
| Op. Margin | 15.7% | 7.5% | 18.2% | 25.3% | 21.7% | 21.7% |
| Net Income | N/A | 13M | 30M | 33M | 39M | 39M |
| Net Margin | N/A | 0.5% | 2.6% | 3.9% | 3.2% | 3.2% |
| Non-Recurring | 14M | 6.9M | 0 | 0 | 34M | 34M |
| Returns on Capital | ||||||
| ROIC | N/A | 14.1% | 14.9% | 15.3% | 13.2% | 5.5% |
| ROE | N/A | 0.8% | 1.7% | 1.7% | 1.9% | 1.8% |
| ROA | N/A | 0.5% | 1.1% | 1.1% | 1.1% | 0.9% |
| Cash Flow | ||||||
| Op. Cash Flow | 142M | 225M | 232M | 244M | 461M | 461M |
| Free Cash Flow | 106M | 106M | -81M | 131M | 298M | 298M |
| Owner Earnings | 37M | 127M | 114M | 138M | 338M | 338M |
| CapEx | 36M | 119M | 313M | 113M | 163M | 163M |
| Maint. CapEx | 105M | 97M | 114M | 99M | 111M | 111M |
| Growth CapEx | 0 | 22M | 198M | 14M | 52M | 52M |
| D&A | 105M | 97M | 114M | 99M | 111M | 111M |
| CapEx/OCF | N/A | 53.0% | 134.9% | 46.3% | 35.3% | 35.3% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 1.3M | 2.6M | 3.4M | 8.5M | 8.5M |
| Dividend Yield | N/A | 0.0% | 0.1% | 0.2% | 0.3% | 0.2% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | 1.0M | 3.6M | 7.2M | 12M | 12M |
| Debt Repayment | 29M | 20M | 87M | 45M | 187M | 187M |
| Balance Sheet | ||||||
| Net Debt | 215M | -716M | -693M | -690M | 46M | 584M |
| Cash & Equiv. | 73M | 517M | 556M | 538M | 538M | 538M |
| Long-Term Debt | 214M | 193M | 333M | 287M | 913M | 913M |
| Debt/Equity | 0.36 | 0.19 | 0.23 | 0.20 | 0.50 | 0.50 |
| Interest Coverage | 4.4 | 5.5 | 4.0 | 4.5 | 3.3 | 3.3 |
| Equity | 1.0B | 1.7B | 1.8B | 1.9B | 2.2B | 2.2B |
| Total Assets | 2.5B | 2.9B | 2.9B | 2.9B | 4.1B | 4.1B |
| Total Liabilities | 1.5B | 1.2B | 1.1B | 995M | 1.9B | 1.9B |
| Intangibles | N/A | N/A | N/A | 0 | 359M | 359M |
| Retained Earnings | N/A | 12M | 40M | 72M | 103M | 103M |
| Working Capital | -30M | 432M | 496M | 538M | 443M | 443M |
| Current Assets | 490M | 824M | 700M | 754M | 753M | 753M |
| Current Liabilities | 520M | 392M | 204M | 216M | 310M | 310M |
| Per Share Data | ||||||
| EPS | 0.00 | 0.51 | 1.11 | 1.27 | 1.28 | 1.28 |
| Owner EPS | 0.34 | 1.17 | 1.08 | 1.21 | 2.96 | 2.96 |
| Book Value | 9.27 | 15.67 | 17.09 | 16.56 | 19.54 | 19.54 |
| Cash Flow/Share | 1.31 | 2.08 | 2.19 | 2.14 | 4.04 | 1.32 |
| Dividends/Share | 0.00 | 0.01 | 0.02 | 0.03 | 0.07 | 0.07 |
| Shares Out. | 108.3M | 108.3M | 105.9M | 114.1M | 114.1M | 114.1M |
| Valuation | ||||||
| P/E Ratio | N/A | 49.5 | 13.9 | 23.5 | 21.8 | 26.4 |
| P/FCF | N/A | 25.8 | N/A | 26.0 | 10.7 | 12.9 |
| EV/EBIT | N/A | 10.4 | 4.4 | 12.6 | 11.5 | 16.6 |
| Price/Book | N/A | 1.6 | 0.9 | 1.8 | 1.4 | 1.7 |
| Price/Sales | N/A | 1.1 | 1.8 | 2.6 | 2.5 | 3.1 |
| FCF Yield | N/A | 3.9% | -5.0% | 3.9% | 9.4% | 7.7% |
| Market Cap | N/A | 2.7B | 1.6B | 3.4B | 3.2B | 3.9B |
| Avg. Price | N/A | 24.51 | 19.36 | 19.36 | 27.30 | 33.79 |
| Year-End Price | N/A | 25.24 | 15.38 | 29.86 | 27.85 | 33.79 |
Excelerate Energy, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
Excelerate Energy, Inc. trades at 26.4x trailing earnings, compared to its 15-year median P/E of 22.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 3.6x vs a median of 25.8x. The company's 5-year average ROIC is 14.4% with a gross margin of 51.1%. Total shareholder yield (dividends) is 0.2%. At current prices, the estimated annualized return to fair value is +22.9%.
Excelerate Energy, Inc. (EE) has a current P/E ratio of 26.4, compared to its historical median P/E of 22.6. The stock is currently considered Fair based on its historical valuation range.
Excelerate Energy, Inc. (EE) has a 5-year average return on invested capital (ROIC) of 14.4%. This indicates solid capital allocation.
Excelerate Energy, Inc. (EE) has a market capitalization of $3.9B. It is classified as a mid-cap stock.
Yes, Excelerate Energy, Inc. (EE) pays a dividend with a trailing twelve-month yield of 0.22%.
Based on historical P/E analysis, Excelerate Energy, Inc. (EE) appears fair. The current P/E of 26.4 is 17% above its historical median of 22.6. The estimated fair value CAGR (P/E method) is 23.3%.
Excelerate Energy, Inc. (EE) operates in the Natural Gas Distribution industry, within the Utilities sector.
Excelerate Energy, Inc. (EE) reported annual revenue of $1.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Excelerate Energy, Inc. (EE) has a net profit margin of 3.2%. This is a modest margin.
Excelerate Energy, Inc. (EE) generated $298 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Excelerate Energy, Inc. (EE) has a debt-to-equity ratio of 0.50. This indicates moderate leverage.
Excelerate Energy, Inc. (EE) reported earnings per share (EPS) of $1.28 in its most recent fiscal year.
Excelerate Energy, Inc. (EE) has a return on equity (ROE) of 1.9%. This indicates moderate shareholder returns.
Excelerate Energy, Inc. (EE) has a 5-year average gross margin of 51.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for Excelerate Energy, Inc. (EE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Excelerate Energy, Inc. (EE) has a book value per share of $19.54, based on its most recent annual SEC filing.