Top 15 Fastest-Growing Profitable Energy Companies
Marvin's rules found 15 profitable Energy companies with the fastest revenue growth in their last fiscal year. Expand Energy, Venture Global and Diversified Energy lead, though growth, debt and cash flow vary widely across the list.
Fast revenue growth in Energy often comes with caveats. Energy companies' sales move with commodity markets, and a big jump in one year can come from price changes, deals or new projects, so it may not repeat. This list ranks companies by last fiscal year's revenue growth, so look at the other figures too.
All 15 companies are profitable and have a solid Marvin Overall score compared with others in their industry. Margins, free cash flow and debt show how the growth is being financed. Some names grow quickly with strong cash generation, while others carry heavy debt or negative free cash flow.
Treat this as a starting point for research, not a recommendation. Scores describe how each company compares with industry peers today and say nothing about future results.
The list
How Marvin ranked these stocks
Marvin included Energy companies above a minimum size threshold that are profitable and have an Overall score at or above its cutoff, with at most four from any one industry. They are ranked by revenue growth in the last fiscal year, fastest first. Marvin scores run from zero to 100 and are relative to each company's own industry, so a high score means strong standing among industry peers, not across the whole market.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Energy sector, fastest last-fiscal-year revenue growth first, among profitable companies with an Overall score of at least 55; at most 4 per industry.
The stocks, one by one
Expand Energy Corporation EXE
Expand Energy, an oil and gas producer, grew revenue 186.3% last fiscal year, with an operating margin of 26.9% and a free cash flow margin of 19.7%. Debt-to-equity is a low 0.19. Caution: growth this large is a one-year snapshot and may not repeat.
Venture Global, Inc. VG
Venture Global, a midstream company, grew revenue 176.9% with a strong operating margin of 37.6%. Caution: free cash flow margin is negative at -41.2%, debt-to-equity is high at 4.99, and its Quality score is only 29.
Diversified Energy Company PLC DEC
Diversified Energy, an oil and gas producer, grew revenue 141.5%, with an operating margin of 32.3% and a free cash flow margin of 18.0%. Caution: debt-to-equity of 3.00 is notable, and its Quality score of 58 is middling.
Solaris Energy Infrastructure, Inc. SEI
Solaris Energy Infrastructure, an equipment and services company, grew revenue 98.7% with an operating margin of 24.3%. Caution: free cash flow margin is deeply negative at -95.5%, so it spent far more than it generated, and return on equity is only 6.1%.
Core Natural Resources, Inc. CNR
Core Natural Resources, a coal company, grew revenue 92.4% and carries little debt, with debt-to-equity of 0.14. Caution: profitability is thin, with an operating margin of 1.9% and return on equity of 2.7%.
LandBridge Company LLC LB
LandBridge grew revenue 81.1% and converts it into profit very well, with an operating margin of 61.3% and a free cash flow margin of 67.1%. Caution: its Opportunity score of 63 is lower than most here, and debt-to-equity is 1.51.
CNX Resources Corporation CNX
CNX Resources, an oil and gas producer, grew revenue 76.8%, with a free cash flow margin of 20.2% and return on equity of 19.6%. Debt-to-equity is moderate at 0.49. Caution: Marvin has no operating margin figure for it, so profitability is only partly visible.
ONEOK, Inc. OKE
ONEOK, a midstream company, grew revenue 55.0%, with a gross margin of 27.2% and an operating margin of 15.5%. Caution: its free cash flow margin is only 7.4%, and debt-to-equity of 1.44 is moderate to high.
Innovex International, Inc. INVX
Innovex International, an equipment and services company, grew revenue 48.0% with very little debt, at a debt-to-equity of 0.09. Gross margin is 32.4%. Caution: operating margin of 10.0% and return on equity of 5.8% are modest, and no free cash flow figure is available.
Sunrun Inc. RUN
Sunrun, a solar company, grew revenue 45.1% and earns a return on equity of 11.5%. Caution: operating margin is thin at 2.7%, debt-to-equity is high at 4.36, and no free cash flow figure is available.
Flowco Holdings Inc. FLOC
Flowco Holdings, an equipment and services company, grew revenue 41.9%, with a gross margin of 55.1% and a free cash flow margin of 25.4%. Caution: its growth is slower than most names above it, and debt-to-equity is 0.94.
Dorian LPG Ltd. LPG
Dorian LPG, a midstream shipping-focused company, grew revenue 36.3%, with an operating margin of 57.6% and return on equity of 26.0%. Debt-to-equity is low at 0.52. Caution: no free cash flow figure is available, so cash generation is unclear.
Archrock, Inc. AROC
Archrock, an equipment and services company, grew revenue 28.7%, with a gross margin of 48.9%, a free cash flow margin of 19.4% and return on equity of 21.2%. Caution: debt-to-equity is 1.52, and no operating margin figure is available.
Cheniere Energy, Inc. LNG
Cheniere Energy, a midstream company, grew revenue 27.2%, with an operating margin of 29.9% and return on equity of 47.1%. Caution: debt-to-equity is high at 4.29, and its Opportunity score of 55 is the lowest on this list.
First Solar, Inc. FSLR
First Solar grew revenue 24.1%, with an operating margin of 33.6%, a free cash flow margin of 27.9% and almost no debt, at debt-to-equity of 0.02. Caution: it has the slowest growth on this list, and its Opportunity score is 73.
Common questions
Why is last fiscal year's revenue growth not enough on its own?
Revenue growth shows how fast sales rose, not whether the growth was healthy. In Energy, sales can jump because of commodity price swings, acquisitions or new projects. Margins, free cash flow and debt help show whether the growth is paying off.
What does a negative free cash flow margin mean?
It means a company spent more cash on running and building its business than it brought in during the period. This is common when a company is investing heavily, but it can strain finances if it continues, especially alongside high debt.
Are Marvin scores comparable across different industries?
Not directly. Marvin scores compare each company with others in its own industry, so a high score for a coal company and a high score for a solar company each mean strong standing among their own peers. They are not a ranking across the whole Energy sector.
Keep reading
- Top 15 Energy Stocks by Marvin's Opportunity Score
- Top 15 Energy Stocks Right Now, Ranked by Marvin Scores
- Top 15 Energy Stocks With the Strongest Businesses
- Top 20 Oil and Gas Stocks Ranked by Marvin Scores
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.