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Owns and operates the Sabine Pass LNG export terminal, one of the largest liquefied natural gas export facilities in the US.
Owns and operates the Sabine Pass LNG export terminal, one of the largest liquefied natural gas export facilities in the US.
Charges long-term customers a fixed fee for liquefying their gas whether or not they take the cargo (take-or-pay), so most revenue is steady and not tied to LNG prices. Cheniere Energy controls it, runs the plant and markets the uncontracted output. Sabine Pass, in Louisiana, was the first big US export plant.
Moat: wide (scale, installed base, regulatory licence). One of the largest operating US LNG export terminals, protected by long lead times and permitting for new capacity.
Headquarters: Houston, Texas, US · Founded: 2006 · Employees: 1,717
Size Cheniere Energy Partners, L.P (CQP) is a United States Utilities company (Gas Distributors) with a market value of $27.8B, the 389th largest of 3,117 United States companies the cockpit tracks. Shares closed at $57.36 on 6 Nov 2026.
Performance Over six months the shares fell 8.0%, against -1.9% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 18 in its peer set.
Growth Revenue grew 13.2% over the last twelve months (peer median +3.6%); the operating margin is 32.5% (peer median 17.2%).
Valuation It trades at 12.0× forward earnings against a peer median of 14.6× (4th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -13% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -26 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 19.7 points above its cost of capital (6.0% WACC).
Credit Cheniere Energy Partners, L.P has 15 bonds outstanding ($17.2B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 86 bp.
Short interest Short interest is 0.1% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $11.7B | $10.8B | $8.70B | $9.66B | $17.2B |
| Revenue growth | — | +24% | -10% | -44% | — |
| Gross profit | $3.91B | $3.69B | $3.18B | $4.38B | $5.67B |
| EBITDA | $4.49B | $4.27B | $3.74B | $4.94B | $6.20B |
| Net income | $2.79B | $2.52B | $2.07B | $3.39B | $1.57B |
| Free cash flow | $2.89B | $2.57B | $2.81B | $2.89B | $3.70B |
| Capital expenditure | $549M | $199M | $154M | $220M | $451M |
| Total debt | $14.4B | $14.6B | $15.3B | $16.0B | $16.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cheniere Energy Partners, L.P CQP | $27.8B | -8% | +13% | 33% | 12.0× | -13.4% |
| Cheniere Energy LNG | $56.8B | +16% | +28% | 31% | 13.0× | -8.6% |
| Venture Global VG | $28.8B | +1% | +101% | 38% | 6.3× | n/a |
| NextDecade NEXT | $1.56B | -23% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CQP | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.1% | +3.1% | lowest of 18 |
| 6-month return | -8.0% | -1.9% | 5th lowest of 18 |
| Distance from 52-week high | -19.5% | -10.3% | 5th lowest of 18 |
| Revenue growth (TTM) | +13.2% | +3.6% | 2nd highest of 18 |
| Operating margin | 32.5% | 17.2% | 5th highest of 17 |
| Forward P/E | 12.0× | 14.6× | 4th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -13.4% | 3.2% | least demanding of 13 |
| Growth delivered (Del g) | +12.7% | +7.6% | highest of 13 |
| Hurdle (Req g minus delivered) | -26.1 pp | -6.6 pp | least demanding of 13 |
| ROIC minus cost of capital | +19.7 pp | -0.7 pp | 2nd highest of 17 |
| EV / EBITDA | 8.6× | 12.9× | 6th cheapest of 15 |
| Net debt / EBITDA | 3.1× | 4.9× | 6th least indebted of 15 |
| Bond spread | 86 bp | 80 bp | 4th widest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cheniere Energy Partners, L.P CQP | United States | $27.8B | -8% | +13% | 33% | 12.0× | -13.4% | +12.7% |
| Atmos Energy ATO | United States | $29.3B | -4% | +6% | 37% | 19.3× | n/a | n/a |
| Naturgy Energy NTGY.MC | Spain | $31.8B | +8% | +5% | 18% | 13.1× | -7.4% | +4.9% |
| Snam SRG.MI | Italy | $23.3B | -2% | +9% | 46% | 14.5× | 9.3% | +6.9% |
| NiSource NI | United States | $21.2B | -6% | +10% | 27% | 20.3× | n/a | n/a |
| HK & China Gas 0003.HK | Hong Kong | $17.6B | +3% | +2% | 14% | 21.6× | 8.7% | +5.8% |
| Sempra SRE | United States | $51.1B | -14% | +1% | 25% | 15.2× | n/a | n/a |
| Osaka Gas 9532.T | Japan | $13.3B | -2% | +1% | 7% | 14.6× | 4.0% | +8.3% |
| Tokyo Gas 9531.T | Japan | $13.1B | -7% | +4% | 7% | 16.3× | -1.8% | +9.9% |
| AltaGas ALA.TO | Canada | $11.8B | +4% | +18% | 9% | 22.5× | n/a | n/a |
| Italgas IG.MI | Italy | $10.4B | -12% | +9% | 49% | 12.3× | 2.4% | +11.3% |
| APA APA.AX | Australia | $10.4B | +7% | -6% | 38% | 49.3× | 12.5% | +3.1% |
| Canadian Utilities CU.TO | Canada | $10.1B | +9% | +1% | 16% | 18.9× | 20.1% | +2.7% |
| ENN Natural Gas 600803.SS | China | $9.83B | +5% | -1% | n/a | 11.8× | -6.1% | +8.4% |
| Centrica CNA.L | United Kingdom | $9.23B | -25% | 0% | 23% | 13.1× | n/a | n/a |
| KunLun Energy 0135.HK | Hong Kong | $8.35B | +1% | +6% | 5% | 9.5× | -13.0% | +11.4% |
| DCC Energy DCC.L | United Kingdom | $7.41B | +13% | -14% | 3% | 12.7× | 7.1% | +2.9% |
| Enn Energy 2688.HK | Hong Kong | $7.02B | -17% | +6% | 7% | 7.6× | -3.4% | +8.6% |
Cheniere Energy Partners, L.P has 15 bonds outstanding with $17.2B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 5.55%, a spread of 86 bp over government bonds.