Venture Global, Inc. (VG) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Energy / Oil & Gas · as of Aug 9, 2026
Venture Global, Inc. (VG)
A forensic read on Venture Global, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Grey Zone
Financial health
1.7
Distress distance
Watch
Earnings quality
4
Forensic signals
11.1
P / E (ttm)
38.1%
ROE
$32.9B
Market cap
0.55%
Dividend yield
176.9%
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). 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.
Venture Global, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 1.7, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+1.9%/yr
FY2024–FY2025
Share-count dilution.Diluted share count changed +2% over the last 1 year to FY2025 (+1.9%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.9% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~2%.
FCF ($6.8B)
FY2025
Shareholder returns.Returned $465M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($6.8B) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $6.6B — 7% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
+26.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +26.6% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply, and much of it is accounted for. The build is led by receivables up +152% against revenue +177% and payables paid down 52% against +177% in revenue. That build tracks a +177% revenue year: net operating assets grew +31% and receivables +152%, so the balance sheet is carrying more volume rather than getting heavier per dollar of sales — the accrual build is funding demand the company is shipping, not earnings running ahead of collection. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 10% of net operating assets, diverging from the balance-sheet accrual read.
8.8%
FY2025
Key fundamentals
Latest Revenue$13.77B
Revenue Growth YoY+176.9%
Net Margin18.6%
Free Cash Flow-$6.80B
Return on Equity38.1%
Debt / Equity5.07x
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 Venture Global, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 9, 2026. Forensic signals flag probability, not certainty.
Return on invested capital.Return on invested capital is 8.8% in the latest fiscal year and rising from 4% — around its ~8% cost of capital, so growth is roughly value-neutral.