EQT EQT

Name: EQT Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored April 5, 2026

Price at analysis: $59.70

Crucible Score

57.8

Quality × Value Composite

KQI — Quality

58.2

C+

Fundamental Quality Index

KVI — Value

57.3

Valuation Attractiveness Index

Crucible Verdict — EQT

EQT trades below fair value despite solid operational fundamentals, with the stock at $60 versus a $66 base case valuation. The company's biggest vulnerability lies in diversification, scoring just 12 on resilience metrics in a volatile energy sector. CEO Rice's fully performance-based compensation and strong 77% earnings beat rate suggest execution capability, but investors should monitor commodity exposure and capital allocation discipline.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

63.5

Growth Profile⚠

60.4

Moat Durability⚠

60.6

Management Effectiveness

61.8

Diversification & Resilience⚠

12.0

Market Position

56.0

Weakest dimension: Diversification & Resilience (12.0)

◆ KVI Value Dimensions

DCF Margin of Safety

58.5

FCF Yield & Cash Returns

69.2

Relative Valuation

59.3

Growth-Adjusted Value

40.5

Historical Valuation

50.0

Macro Context

59.2

◆ DCF Valuation Scenarios

Bear Case

$42.15

Base Case

$65.80

Bull Case

$96.50

Price at Analysis

$59.70

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$42.15	4.0%	22.0%	9.3%
🟢 Base	$65.80	7.0%	30.0%	8.8%
🟢 Bull	$96.50	10.0%	38.0%	8.3%

Key Assumptions: EQT's revenue is highly volatile due to natural gas price swings, with a 5-year average around $7.7B but recent years ranging from $5B to $12B. Base case assumes modest 7% revenue CAGR from a normalized ~$7B starting point with 30% terminal operating margin reflecting mid-cycle gas prices. WACC calculated using CAPM with 5.5% ERP and 0.69 beta, yielding ~8.1% cost of equity blended with after-tax cost of debt (~5.5%) at ~35% debt weighting. Capex intensity anchored at 27% of revenue consistent with historical average of $1.4-2.3B annual spend.

◆ Financial Snapshot

Profitability

Gross Margin48.9%

Operating Margin34.7%

Net Margin22.5%

ROIC5.3%

ROE-1.4%

Balance Sheet

Balance SheetCR: 0.76

Cash ConversionFCF/EPS: 1.39x

Capital IntensityCapex/Rev: 25.2%

Altman Z-Score2.15 (Grey)

Piotroski F-Score8/9 (Strong)

Growth

Revenue CAGR6.0% CAGR

Earnings CAGR7.8% CAGR

Growth ConsistencyCV: 1.80

Segment BreadthInsufficient segments

Quarterly TrendRev→+26%, Margin↑, WC↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEOToby Z. Rice · 3 years

CEO Ownership7.5%

Compensation100% performance-based

Insider ActivitySelling

Capital AllocationROIC 5.3% vs WACC 4.4%

Earnings Beat Rate77% (15/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted April 5, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.