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Cheniere Energy Partners LP (CQP) Fair Value & Analysis

Energy · US · Market cap $28.1B · ISIN US16411Q1013

What is Cheniere Energy Partners LP really worth?

CE Cheniere Energy Partners LP logo Cheniere Energy Partners LP CQP · US
Price$68.41
Fair Value$38.48
Upside−43.8%
Quality72/100

A solid business, but trading 78% above our fair value of $38.48.

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Strengths

Highly profitable · 22.3% net margin
Wide moat 70/100

Risks

!Weak Growth (revenue 5y +11.8 %/yr)
!High debt · generates free cash flow
!Mixed vs. peers (6/15)
!The models disagree: range $30.48 to $153.92

For context

·4.78% dividend yield
Evidence: High Range $30.48 – $153.92

Fair value as of: Sep 3, 2026

From 26 valuation models · updated yesterday

Share price +3.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The model range is unusually wide ($30.48 to $153.92). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Price vs Fair Value (5 years)

$71.22 $27.65 Fair Value $38.48 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range $27.65 – $71.22 · fair‑value band $30.48 – $153.92 · the $68.41 price screens above the $38.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.

Full chart & analysis →

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Analysis

Cheniere Energy Partners LP (CQP) currently trades at $68.41, while our model-based Fair Value estimate is $38.48, implying the stock looks roughly 77.8% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Energy sector. Bull case: the Growth Earnings group reads highest at a median of $233.08 per share, and 14 of the 25 models we run sit above the $68.41 price. Bear case: the Asset-Based group reads lowest at $4.37, and 11 of the 25 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Cheniere Energy Partners LP generated revenue of $11.4B at a net margin of 22.3%. Revenue grew 20.4% year over year. Net debt stands at $14.5B. The stock trades on a trailing P/E of 16.0. Fundamentals as of Sep 3, 2026

Our scenario range runs from $30.48 (bear case) to $153.92 (bull case); at $68.41, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 2% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −46% fair-value upside, at −44%, CQP screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.6835 per share, which is 1.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EPV $25.48 $34.54 $42.46 74
FCF DCF $60.49 $111.72 $274.85 73
Growth DCF $55.18 $137.92 $273.50 73
All 26 models by family
DCF Models
FCF DCF $60.49 $111.72 $274.85 73
Owner Earnings $83.88 $227.68 $529.56 69
5Y Revenue Exit $10.72 $30.52 $71.20 65
5Y EBITDA Exit $25.61 $60.64 $129.06 69
5Y P/E Exit $44.55 $130.34 $246.45 66
10Y Revenue Exit $25.00 $68.23 $89.09 66
10Y EBITDA Exit $36.72 $100.30 $205.73 63
10Y P/E Exit $50.53 $141.07 $288.01 59
Earnings-Based
Graham-Dodd $41.96 $292.63 $410.67 63
Lynch FV $137.32 $196.17 $255.02 61
PEG = 1.0 $137.32 $196.17 $255.02 57
EPV $25.48 $34.54 $42.46 74
Dividend Discount
Gordon GGM $39.15 $81.40 $129.14 66
DDM Multi-Stage $39.15 $68.64 $85.44 66
Multiples
P/E Multiple $64.79 $86.39 $107.99 63
P/S Multiple $20.00 $26.67 $33.34 58
P/B Multiple $8.80 $11.74 $14.67 55
EV/EBIT $26.71 $45.22 $63.74 64
EV/EBITDA $10.88 $24.13 $37.37 63
EV/Revenue $5.83 50
Asset-Based
NCAV (Graham) $3.26 $4.37 $6.52 54
Growth DCF
Growth DCF $55.18 $137.92 $273.50 73
Rev-Margin DCF $13.60 $39.22 $92.11 65
Economic Profit
Residual Income $27.44 $34.61 $293.58 64
ROIC Compounder $44.47 $79.92 $107.15 70
Growth Earnings
Growth-Adj P/E $163.16 $233.08 $303.00 67

Widest divergence: Growth Earnings ($233.08) versus Asset-Based ($4.37). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 16.0
P/S ratio 4.44 P/E × margin
EPS (TTM) $4.28 price ÷ EPS = P/E 16.0
Dividend yield 4.8% payout 76.4%
Net margin 27.8% FY2025
Return on assets (EBIT) 19.5% avg 5y
More key figures
Profitability
Operating margin 10.0% TTM
Growth
Revenue (TTM) $11.4B TTM
Revenue growth (YoY) +20.4% 3y avg −14.5%
EPS growth (YoY) −82.4%
Balance sheet & cash flow
Free cash flow $2.6B FY2025
Net debt $14.5B FY2025 · ≈ 5.6 yrs of FCF

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 66 · Market factors (momentum, volatility) 71

Profitability 75
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Cheniere Energy Partners, L.P., through its subsidiaries, provides liquefied natural gas (LNG) to integrated energy companies, utilities, and energy trading companies in the United States and internationally. The company owns and operates natural gas liquefaction and export facility at the Sabine Pass LNG Terminal located in Cameron Parish, Louisiana.

Full company description

Cheniere Energy Partners, L.P., through its subsidiaries, provides liquefied natural gas (LNG) to integrated energy companies, utilities, and energy trading companies in the United States and internationally. The company owns and operates natural gas liquefaction and export facility at the Sabine Pass LNG Terminal located in Cameron Parish, Louisiana. It also owns Creole Trail Pipeline, a natural gas supply pipeline that interconnects the Sabine Pass LNG terminal with various interstate and intrastate pipelines. Cheniere Energy Partners, L.P. was founded in 2003 and is headquartered in Houston, Texas. Cheniere Energy Partners, L.P. is a subsidiary of Cheniere Energy, Inc.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cheniere Energy Partners LP reported revenue of $10.8B in FY2025 versus $9.4B in FY2021, a compound +3.3%/yr. Reported net income was $3.0B in FY2025, compounding +16.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$10.8B
Latest YoY
+23.6%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−14.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.8%
Avg. revenue growth/yr (17Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+47.2%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+20.6% (15.8 + 4.8)
Revenue +3.3%/yr
FY21 $9.4B
FY22 $17.2B
FY23 $9.7B
FY24 $8.7B
FY25 $10.8B
Net income +16.3%/yr
FY21 $1.6B
FY22 $2.5B
FY23 $4.3B
FY24 $2.5B
FY25 $3.0B

CQP screens 78% overvalued. Compare with Enbridge Inc →

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Cite: Fair Value Calculator (2026). "Cheniere Energy Partners LP Fair Value". https://www.fairvalue-calculator.com/stock/CQP

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Oil & Gas Midstream · 89 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 72 · Top 25%
Fair Value upside −44% · Below median
Return on assets 12% · Top 25%
Net margin (TTM) 22% · Above median
Operating margin (TTM) 10% · Below median
Revenue growth 20% · Above median
Dividend yield (TTM) 4.8% · Above median
Debt / equity 4.49× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper

P/E (TTM) 16.0× · Pricier than median
P/B 8.90× · Pricier than 75% of peers
P/S (TTM) 2.47× · Pricier than median
P/FCF 10.9× · Cheaper than median
EV/EBITDA 10.7× · Pricier than median
PEG 5.05× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 44
PAST0 · sector 42
HEALTH0 · sector 54
DIVIDEND96 · sector 80

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $50.72 $35.83 −29%
The Williams Companies, Inc WMB $74.05 $11.73 −84%
Enterprise Products Partners L.P. EPD $39.02 $20.94 −46%
TC Energy Corporation TRP C$88.72 C$24.53 −72%
Kinder Morgan, Inc KMI $31.60 $10.92 −65%
Energy Transfer LP, ET $21.31 $11.45 −46%
MPLX LP owns and MPLX $59.25 $36.42 −39%
ONEOK, Inc OKE $95.69 $58.62 −39%
Targa Resources Corp TRGP $286.91 $79.61 −72%
Venture Global, Inc VG $13.72 $14.00 +2%

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Frequently asked questions

Is Cheniere Energy Partners LP (CQP) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of $38.48 versus a price of $68.41, about −44% upside (overvalued).
What is the fair value of CQP?
Our model-based fair value for Cheniere Energy Partners LP is $38.48 (as of Sep 3, 2026), built from audited fundamentals. The current price: $68.41.
What is the quality score of CQP?
Cheniere Energy Partners LP has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Cheniere Energy Partners LP (CQP)?
Cheniere Energy Partners LP reported trailing-twelve-month revenue of about $11.4B (latest available figure, as of Sep 3, 2026).
What is the net profit margin of CQP?
The net profit margin of Cheniere Energy Partners LP is about 22.3%, meaning it keeps roughly 22.3% of revenue as net income. Based on the latest reported figures.
Does Cheniere Energy Partners LP pay a dividend?
Cheniere Energy Partners LP currently shows a dividend yield of about 4.78% relative to its recent price (as of Sep 3, 2026).
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