Venture Global, Inc. Class A (VG)
NYSE:VG
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Venture Global, Inc. Class A
(NYSE:VG)
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Rating:66Neutral
Price Target:
$14.00
â–²(22.16% Upside)
Action:DowngradedDate:04/24/26
The score is driven primarily by mixed financial quality: strong profitability and operating cash generation are offset by historically high leverage volatility and persistently negative free cash flow. Valuation is very attractive (low P/E and extremely high dividend yield), while technicals remain weak in the near term (below key moving averages with negative MACD). Earnings call guidance and recent corporate actions are supportive but still tempered by quantified near-term operational and cost headwinds.
Positive Factors
Large contracted backlog & offtake coverage
A large, long-term SPA backlog and 49 MTPA of contracted capacity provide durable revenue visibility and reduce near-term spot exposure. This underpins project-level cash flows, supports lender confidence for project financing, and materially de-risks volume recovery over the next several years.
Negative Factors
Historic leverage volatility & negative free cash flow
Consistent negative free cash flow and a history of stressed leverage imply ongoing funding dependence. Even with 2025 improvement, volatile capital structure raises refinancing and interest coverage risk, limiting flexibility for distributions and heightening sensitivity to market or rate shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Large contracted backlog & offtake coverage
A large, long-term SPA backlog and 49 MTPA of contracted capacity provide durable revenue visibility and reduce near-term spot exposure. This underpins project-level cash flows, supports lender confidence for project financing, and materially de-risks volume recovery over the next several years.
Read all positive factors
Venture Global, Inc. Class A (VG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$30.26B
Dividend Yield0.95%
Average Volume (3M)32.53M
Price to Earnings (P/E)6.1
Beta (1Y)0.46
Revenue Growth176.93%
EPS Growth51.81%
CountryUS
Employees1,500
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)0.41
Shares Outstanding513,964,100
10 Day Avg. Volume26,768,163
30 Day Avg. Volume32,534,340
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)1.96
Price to Sales (P/S)1.20
P/FCF Ratio-2.43
Enterprise Value/Market Cap1.04
Enterprise Value/Revenue2.29
Enterprise Value/Gross Profit4.64
Enterprise Value/Ebitda5.27
Forecast
1Y Price Target
$15.95Price Target Upside39.18% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)1.27
Revenue Forecast (FY)$17.52B
Venture Global, Inc. Class A Business Overview & Revenue Model
Company Description
Venture Global, Inc. supplies natural gas products. The Company specializes in commissioning, constructing, and developing natural gas liquefaction and export projects....
How the Company Makes Money
Venture Global makes money primarily by selling LNG to customers under commercial arrangements tied to its LNG export projects. Its key revenue stream is LNG sales: the company enters into contracts to deliver LNG volumes to buyers (often structur...
Venture Global, Inc. Class A Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The call highlighted a strong operational and financial ramp in 2025 with significant contracting momentum, scale expansions under construction (Calcasieu Pass, Plaquemines, CP2), record production growth, and large EBITDA gains (Q4 EBITDA up 191% YoY; FY EBITDA up 200%). Management provided constructive 2026 guidance ($5.2B–$5.8B consolidated adjusted EBITDA) and detailed capital plans that rely on project-level financing and retained earnings. Near-term challenges include shipping constraints, weather-related disruptions (Winter Storm Fern) that management quantifies as ~ $500M Q1 EBITDA headwind, ongoing arbitrations with a $13M/quarter non-cash revenue reserve estimate at Calcasieu Pass, commissioning variability at Plaquemines, and higher interest/swap costs that pressured net income. Overall, the positive operational execution, substantial contract backlog and financing progress materially outweigh the near-term operational and market headwinds discussed.Positive Updates
Major 2025 Operational Milestones & Scale-up
IPO in January 2025; Calcasieu Pass reached commercial operations in April 2025; Plaquemines ramped commissioning and is generating >1 commissioning cargo per day; CP2 Phase 1 reached FID in July and construction launched. Company is simultaneously constructing 57+ MTPA across two facilities and projects ~68+ MTPA annual run-rate when Calcasieu Pass, Plaquemines and CP2 Phases 1 & 2 are complete.
Negative Updates
Shipping Constraints and Weather Disruptions
Ship availability issues and Atlantic storm delays reduced expected cargoes (Calcasieu Pass exported 38 cargoes in Q4, slightly below internal expectations). Higher shipping day rates and constrained ship availability compressed margins in late Q4 and affected first-quarter results.
Read all updates
Q4-2025 Updates
Positive
Negative
Major 2025 Operational Milestones & Scale-up
IPO in January 2025; Calcasieu Pass reached commercial operations in April 2025; Plaquemines ramped commissioning and is generating >1 commissioning cargo per day; CP2 Phase 1 reached FID in July and construction launched. Company is simultaneously constructing 57+ MTPA across two facilities and projects ~68+ MTPA annual run-rate when Calcasieu Pass, Plaquemines and CP2 Phases 1 & 2 are complete.
Read all positive updates
Company Guidance
Venture Global's 2026 guidance calls for consolidated adjusted EBITDA of $5.2–$5.8 billion, driven by expected exports of 486–527 cargoes from its facilities with 69% of potential 2026 cargoes already contracted; management expects Calcasieu Pass to export 145–156 cargoes in 2026 with an implied weighted-average liquefaction fee of $1.98/MMBtu (Q4 realized $2.10/MMBtu) and Plaquemines to export 341–370 cargoes (59% of Plaquemines’ potential cargoes contracted at a weighted-average fee of $4.50/MMBtu; Q4 commissioning fee $6.20/MMBtu). For Q1 2026 they expect consolidated adjusted EBITDA of $1.15–$1.25 billion (noting Winter Storm Fern and late‑Q4 margin compression reduced Q1 by ~$500 million versus a $5.50/MMBtu baseline), they estimate annual EBITDA moves by ~$575–$625 million for each $1/MMBtu change in fixed liquefaction fees, and they are applying an estimated $13 million per quarter non‑cash arbitration reserve adjustment to Calcasieu Pass revenue over the 20‑year SPA terms.Venture Global, Inc. Class A Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
48
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.77B | 4.97B | 7.90B | 6.45B | 1.41B |
| Gross Profit | 6.79B | 3.30B | 6.21B | 4.20B | 714.51M |
| EBITDA | 5.97B | 3.09B | 5.35B | 4.29B | -371.00M |
| Net Income | 2.70B | 1.54B | 2.68B | 1.86B | -356.00M |
Balance Sheet | |||||
| Total Assets | 53.45B | 43.49B | 28.46B | 15.10B | 1.39B |
| Cash, Cash Equivalents and Short-Term Investments | 2.35B | 3.61B | 4.82B | 618.00M | 18.34M |
| Total Debt | 1.51B | 29.81B | 21.17B | 10.95B | 479.17M |
| Total Liabilities | 41.45B | 37.12B | 26.38B | 14.59B | 770.42M |
| Stockholders Equity | 8.44B | 2.90B | 1.51B | -186.00M | 617.72M |
Cash Flow | |||||
| Free Cash Flow | -6.80B | -11.57B | -3.54B | -916.00M | -2.58B |
| Operating Cash Flow | 6.57B | 2.15B | 4.55B | 3.70B | 158.71M |
| Investing Cash Flow | -13.22B | -14.16B | -8.72B | -2.90B | -2.08B |
| Financing Cash Flow | 5.46B | 10.75B | 7.63B | 235.00M | -117.26M |
Venture Global, Inc. Class A Technical Analysis
Negative
11.46
Price Trends
11.68
Negative
13.27
Negative
Market Momentum
-1.11
Negative
26.06
Positive
13.57
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VG, the sentiment is Negative. The current price of 11.46 is above the 20-day moving average (MA) of 8.86, below the 50-day MA of 11.68, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -1.11 indicates Negative momentum. The RSI at 26.06 is Positive, neither overbought nor oversold. The STOCH value of 13.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VG.
Venture Global, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $55.44B | 11.07 | 34.93% | 7.31% | 6.16% | 14.35% | |
73 Outperform | $54.51B | 8.01 | 79.10% | 1.07% | 24.44% | 70.66% | |
72 Outperform | $55.29B | 13.64 | 15.47% | 5.61% | 54.99% | 4.45% | |
72 Outperform | $51.83B | 21.51 | 68.22% | 2.03% | 3.38% | 47.83% | |
71 Outperform | $30.36B | 8.67 | 122.75% | 6.07% | 23.60% | 50.29% | |
66 Neutral | $30.26B | 6.13 | 37.98% | 0.95% | 176.93% | 51.81% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
* Energy Sector Average
VG
Venture Global, Inc. Class A
12.16
3.82
45.87%
LNG
Cheniere Energy
264.98
36.07
15.76%
CQP
Cheniere Energy Partners
63.94
8.60
15.54%
OKE
Oneok
89.79
11.97
15.38%
TRGP
Targa Resources
248.37
80.45
47.91%
MPLX
MPLX
55.08
8.00
17.00%
Venture Global, Inc. Class A Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Venture Global Issues New Senior Secured Notes Offering
Positive
Apr 23, 2026
On April 23, 2026, Venture Global’s subsidiary Venture Global Calcasieu Pass, LLC issued $750 million of 6.000% senior secured notes due May 1, 2036, in a private offering to institutional and non-U.S. investors. The notes, guaranteed by aff...
Business Operations and StrategyPrivate Placements and Financing
Venture Global Secures $1.75 Billion Term Loan Facility
Positive
Apr 10, 2026
On April 10, 2026, Venture Global’s subsidiary Calcasieu Pass Funding, LLC closed a $1.75 billion senior secured term loan B facility maturing in 2033, secured by a first‑priority lien on substantially all of the borrower’s asset...
Business Operations and StrategyLegal Proceedings
Venture Global Settles Arbitration, Expands LNG Supply to Europe
Positive
Mar 26, 2026
On March 26, 2026, Venture Global and Edison announced they had signed a commercial agreement settling the pending arbitration related to the Calcasieu Pass LNG project, with completion expected by the end of the second quarter of 2026, at which p...
Business Operations and StrategyPrivate Placements and Financing
Venture Global Secures Landmark CP2 LNG Project Financing
Positive
Mar 13, 2026
On March 13, 2026, Venture Global’s subsidiary CP2 LNG closed amended and upsized project financing facilities totaling $20.7 billion to fund Phases 1 and 2 of its CP2 liquefaction and export terminal and the related CP Express pipeline in C...
Business Operations and Strategy
Venture Global Advances CP2 LNG Phase 2 Expansion Agreement
Positive
Feb 2, 2026
On January 30, 2026, Venture Global CP2 LNG, LLC signed an engineering, procurement and construction contract with Worley Field Services Inc. for Phase 2 of its CP2 LNG export project, assigning Worley responsibility for detailed plant design, pro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.