VG financial statements
The full income statement, balance sheet, and cash-flow statement for Venture Global Inc. (VG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| Revenue | 13.8B+176.9% | 4.97B-37.0% | 7.90B | |
| Research & development | 344M-45.8% | 635M+29.6% | 490M | |
| Selling, general & administrative | 433M+38.8% | 312M+39.3% | 224M | |
| General & administrative | 433M+38.8% | 312M+39.3% | 224M | |
| Operating income | 5.16B+192.5% | 1.76B-63.6% | 4.85B | |
| Interest expense | 1.45B+149.0% | 584M-8.9% | 641M | |
| Other non-operating income | -1.79B-526.9% | 420M+200.5% | -418M | |
| Pre-tax income | 3.36B+54.1% | 2.18B-50.7% | 4.43B | |
| Income tax | 630M+44.2% | 437M-46.4% | 816M | |
| 2.73B+56.5% | 1.75B-51.7% | 3.62B | ||
| Net income to common | 2.26B+53.2% | 1.48B-45.0% | 2.68B | |
| $0.86+50.9% | $0.57-54.4% | $1.25 | ||
| EPS (basic) | $0.93+47.6% | $0.63-51.5% | $1.30 | |
| Weighted-avg shares (basic) | 2.43B+3.2% | 2.35B+13.5% | 2.07B | |
| Weighted-avg shares (diluted) | 2.63B+1.9% | 2.58B+20.6% | 2.14B | |
| Dividends per share | $0.03-44.2% | $0.05-29.7% | $0.08 | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| 4.04B-11.4% | 4.56B | — | ||
| Cash & equivalents | 2.35B-34.7% | 3.61B-38.6% | 5.87B | |
| Accounts receivable | 918M+152.2% | 364M | — | |
| Inventory | 253M+48.0% | 171M | — | |
| Prepaid expenses | 254M+173.1% | 93.0M | — | |
| 53.4B+22.9% | 43.5B | — | ||
| Operating lease right-of-use | 737M+22.4% | 602M | — | |
| Other non-current assets | 447M-53.0% | 952M | — | |
| 4.34B+22.6% | 3.54B | — | ||
| Accounts payable | 737M-52.0% | 1.54B | — | |
| Accrued liabilities | 2.79B+53.9% | 1.82B | — | |
| Short-term & current debt | 812M+327.4% | 190M | — | |
| Current lease liability | 62.0M-23.5% | 81.0M | — | |
| Finance lease liability (current) | 9.00M-10.0% | 10.0M | — | |
| 41.5B+16.4% | 35.6B | — | ||
| Long-term debt | 33.4B+14.8% | 29.1B | — | |
| Non-current lease liability | 696M+29.9% | 536M | — | |
| Operating lease liability (total) | 758M | — | — | |
| Finance lease liability (total) | 258M | — | — | |
| Finance lease liability | 249M+0.4% | 248M | — | |
| Deferred tax liabilities | 2.32B+41.7% | 1.64B | — | |
| Other non-current liabilities | 697M-12.2% | 794M | — | |
| 6.74B+132.8% | 2.90B | — | ||
| Additional paid-in capital | 2.24B+337.1% | 512M | — | |
| Retained earnings | 4.72B+80.8% | 2.61B | — | |
| Accumulated other comprehensive income | -239M+4.0% | -249M | — | |
| Non-controlling interest | 3.56B+2.5% | 3.47B | — | |
| Total equity incl. non-controlling | 10.3B+61.8% | 6.37B | — | |
| Total liabilities & equity | 53.4B+22.9% | 43.5B | — | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| 6.57B+205.5% | 2.15B-52.8% | 4.55B | ||
| Depreciation & amortization | 941M+192.2% | 322M+16.2% | 277M | |
| Share-based compensation | 46.0M+109.1% | 22.0M-21.4% | 28.0M | |
| Deferred income taxes | 640M+43.2% | 447M-34.0% | 677M | |
| Change in receivables | 564M+526.7% | 90.0M+20.0% | 75.0M | |
| Change in inventory | 61.0M-52.0% | 127M+605.6% | 18.0M | |
| -13.2B+6.6% | -14.2B-62.3% | -8.72B | ||
| Capital expenditure | 13.4B-2.6% | 13.7B+69.5% | 8.09B | |
| Free cash flow | -6.80B+41.2% | -11.6B-226.7% | -3.54B | |
| Acquisitions | 0.00 | 0.00 | 0.00 | |
| Other investing activities | -164M-148.8% | 336M+253.7% | 95.0M | |
| 5.46B-49.2% | 10.8B+40.8% | 7.63B | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 11.1B+1123.3% | 905M-84.7% | 5.92B | |
| Common stock issued | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 465M+234.5% | 139M-15.2% | 164M | |
| Other financing activities | 2.00M+104.9% | -41.0M+76.3% | -173M | |
| Net change in cash | -1.19B+5.5% | -1.26B-136.4% | 3.46B | |
| Interest paid | 1.00B+195.9% | 338M-8.2% | 368M | |
| Income taxes paid | -11.0M-200.0% | 11.0M-91.4% | 128M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| Market cap | 16.8B | — | — | |
| P/E | 6.1× | — | — | |
| P/S | 1.2× | — | — | |
| P/B | 2.5× | — | — | |
| Earnings yield | 16.3% | — | — | |
| Dividend yield | 0.44% | — | — | |
| Source filing | 10-K | 10-K | 10-K |
About this data
Source: VG’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all VG filings on SEC EDGAR → Not investment advice.