$91.07
-0.51%Expand Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana. As of December 31, 2023, the company owns a portfolio of onshore U.S. unconventional natural gas assets, including interests in approximately 5,000 natural gas wells. The company was formerly known as Chesapeake Energy Corporation and changed its name to Expand Energy Corporation in October 2024. Expand Energy Corporation was founded in 1989 and is based in Oklahoma City, Oklahoma.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $9.2B | $18.3B | $36.6B | $73.2B | $146.4B | $292.8B | $585.6B | $1,171.2B | $2,342.4B | $4,684.8B |
| Maintenance CapEx | -$1.1B | -$2.2B | -$4.4B | -$8.8B | -$17.5B | -$35.0B | -$70.0B | -$140.1B | -$280.2B | -$560.3B |
| Owner Earnings | $8.1B | $16.1B | $32.2B | $64.4B | $128.9B | $257.8B | $515.6B | $1,031.1B | $2,062.2B | $4,124.5B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $7.5B | $13.8B | $25.6B | $47.4B | $87.7B | $162.4B | $300.8B | $557.1B | $1,031.6B | $1,910.4B |
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.