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Sankey diagram of EQT Corporation. A complete text table follows the diagram.
The Appalachian gas producer owns much of the gathering and transmission route beneath its wells, creating an internal toll loop before outside sales become consolidated profit.
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All values are reported segment revenue, intersegment eliminations, consolidated revenue, expense, or operating-income amounts. The eliminated flow represents internal transactions rather than lost economic value.
Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.
| Category | Stage | Value | Notes |
|---|---|---|---|
| Upstream gas and liquids | 1 | $3.2 | Wells, commodity sales and hedges |
| Gathering pipelines | 1 | $0.3 | Moves gas from the wellhead |
| Transmission pipelines | 1 | $0.2 | Long-haul capacity and MVP interest |
| Gross segment revenue | 2 | $3.7 | Before internal pipeline tolls are removed |
| Internal pipeline transactions | 3 | $0.3 | Eliminated on consolidation |
| Consolidated operating revenue | 3 | $3.4 | External economics after eliminations |
| Operating expenses | 4 | $1.3 | Production, transport and depletion |
| Operating income | 4 | $2 | 60% operating margin |
| From | To | Value |
|---|---|---|
| Upstream gas and liquids | Gross segment revenue | $3.2 |
| Gathering pipelines | Gross segment revenue | $0.3 |
| Transmission pipelines | Gross segment revenue | $0.2 |
| Gross segment revenue | Internal pipeline transactions | $0.3 |
| Gross segment revenue | Consolidated operating revenue | $3.4 |
| Consolidated operating revenue | Operating expenses | $1.3 |
| Consolidated operating revenue | Operating income | $2 |