VG Venture Global, Inc.

Overview and Growth

In fiscal 2025, Venture Global, Inc. recorded $13.77B of revenue, net income of $2.26B, and an operating cash inflow of $6.57B. At $13.77B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 176.9% from $4.97B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $0.86, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $0.57 in fiscal 2024, the current result was 50.9% higher. The revenue-to-assets relationship was 0.26x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $7.85B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 57.0% of revenue, quantifying the portion retained before operating expenses were recognized. Operating income was $5.16B, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 37.4%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $2.26B, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 16.4% margin after operating costs and the remaining recognized items. The earnings statement records $3.36B of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 24.4%, relating income before taxes directly to revenue. Income tax expense totaled $630.00M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 18.7% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

At period end, the $53.45B asset base was financed through $41.45B of liabilities and $10.30B of equity. The near-term balance sheet paired $4.04B of current assets with $4.34B of current liabilities at the reporting date. At 0.93x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Cash and equivalents totaled $2.35B, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 54.2%, excluding receivables and other current assets. Total debt was $34.20B, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 3.32x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 64.0%, comparing borrowing with the total asset balance. The liabilities-to-assets relationship was 77.6%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 4.4%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 22.9% from $43.49B in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $6.57B, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 2.91x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $13.37B, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 203.5%, connecting investment intensity with the company’s cash-generation base. Operating cash flow and capital spending combined to leave a $6.80B cash deficit after capital spending. The free-cash-flow deficit equaled 49.4% of revenue, showing the post-investment cash shortfall relative to sales. The cash deficit after capital spending represented 12.7% of the period-end asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.