Excelerate Energy, Inc. (EE) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Energy / Oil & Gas · as of Sep 24, 2026
Excelerate Energy, Inc. (EE)
A forensic read on Excelerate Energy, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
3.3
Distress distance
Clean
Earnings quality
4
Forensic signals
86.0
P / E (ttm)
7.5%
ROE
$3.9B
Market cap
0.57%
Dividend yield
44.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Excelerate Energy, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 3.3, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+43.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +43.7% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by PP&E up +31% against revenue +44% and inventory up +13% against +44% in revenue. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 14% of net operating assets, against an accruals ratio of 43.7%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
6.9%
FY2025
Return on invested capital.Return on invested capital is 6.9% in the latest fiscal year, against 8% in FY2023, having run between 6.9% and 8.4% across FY2023–FY2025 with no direction held. The capital base behind it grew +54% across FY2023–FY2025, from $2.1B to $3.3B, while the return fell 0.9 points, so the dollars added over that window earned less than the 8% the older base was already earning.
n/m (stock split)
FY2023–FY2025
Share count (stock split).Diluted share count changed -72% over the last 2 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -46.8%/yr figure isn't a real buyback/dilution read here.
1.0% of rev
FY2025
Key fundamentals
Latest Revenue$1.23B
Revenue Growth YoY+44.3%
Revenue CAGR (2yr)+2.9%
Net Margin13.6%
Free Cash Flow$298.2M
Return on Equity7.5%
Debt / Equity0.42x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Excelerate Energy, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 24, 2026. Forensic signals flag probability, not certainty.
Stock-based comp load.Stock-based compensation ran 1.0% of revenue and 4% of free cash flow in FY2025 — about $0.39 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 18.5% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.