Venture Global, Inc.VG
NYSE•Energy•Oil & Gas Midstream
Venture Global, Inc., a liquefied natural gas (LNG) company, engages in the ownership, development, construction, and operation of LNG production facilities and associated infrastructure in the United States, Germany, France, Netherlands, the United Kingdom, and internationally.The company is involved in LNG production, natural gas transportation, and regasification operations, as well as LNG sales and shipping business through LNG tankers. Its LNG projects include Calcasieu, Plaquemines, and CP2 projects. The company was founded in 2013 and is headquartered in Arlington, Virginia. Venture Global, Inc. operates as a subsidiary of Venture Global Partners II, LLC.
Venture Global, Inc. (VG) reported trailing twelve months revenue of $15.47B as of March 2026, a Infinity% increase year-over-year. Quarterly revenue reached $4.60B, reflecting continued top-line momentum.
Venture Global, Inc. generated $2.84B in TTM net income, with quarterly EBITDA of $1.40B. The operating margin contracted from 37.3% to 25.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (25.0%) and net margin (13.6%) indicates moderate non-operating costs. Net margin has narrowed from 17.9% a year ago, reflecting increased costs or interest expense.
VG trades at a P/E of 14.6x (below the broader market average) and a P/S of 2.7x. The price-to-book ratio of 5.8x indicates a significant premium over book value.
The company reported negative free cash flow of $-2.42B, indicating cash consumption over the period. The balance sheet shows $56.30B in total assets with $36.46B in long-term debt against $7.23B in stockholders equity for a debt-to-equity ratio of 5.0, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 5 quarters of fundamental data
Operating margins are positive at ~34.8% on average, but show some variability — pricing power may be sensitive to market conditions.
Limited ROE data for a reliable assessment.
Only 0 of the last 5 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 5 quarters
Operating margins declined 8.2% — watch for continued compression, which may signal competitive or cost pressure.
Free cash flow has been negative in 5 of the last 5 quarters — earnings are not translating to cash.
D/E ratio is 5.0 — dangerously high. The company is heavily leveraged and vulnerable to rising rates or cash flow dips.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding rose 2.7% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation