Lease Revenue was Seapeak’s largest segment in fiscal 2025, bringing in $1.50B of $1.91B (78%).
| Segment | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Lease Revenue | — | — | — | $1.50B | ||||||
| Time Charters | $1.47B | $1.42B | $1.40B | — | ||||||
| Management Fees & Other | $256.76M | $268.00M | $303.22M | $303.87M | ||||||
| Bareboat Charters | — | — | — | — | ||||||
| Voyage Charters | $116.59M | $68.91M | $40.68M | — | ||||||
| Non-Lease Revenue | — | — | — | $109.07M | ||||||
| Non-Lease | — | — | — | — | ||||||
| Non-Lease Revenue - Sales Type Or Direct Financing Lease | — | — | — | — | ||||||
| Total | $1.84B | $1.76B | $1.74B | $1.91B |
Seapeak brought in $1.91B from its three segments in fiscal 2025, the year ended December 31, 2025. Seapeak regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $1.74B. Lease Revenue was the largest at $1.50B (78.4%), ahead of Management Fees & Other at $303.87M (15.9%) and Non-Lease Revenue at $109.07M (5.7%).
Seapeak stopped reporting Time Charters ($1.40B in fiscal 2024) and Voyage Charters ($40.68M in fiscal 2024) as separate segments.
Lng Segment was Seapeak’s largest segment in fiscal 2025, bringing in $1.26B of $1.61B (79%).
| Statement Business Segments | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Lng Segment | $1.47B | $1.42B | $1.40B | $1.26B | |||||||||||||
| Liquefied Natural Gas Segment | — | — | — | — | |||||||||||||
| Liquefied Natural Gas | — | — | — | — | |||||||||||||
| Liquefied Gas | — | — | — | — | |||||||||||||
| Natural Gas Liquid | $116.59M | $420.92M | $391.71M | $343.47M | |||||||||||||
| Conventional Tankers | — | — | — | — | |||||||||||||
| Conventional Tanker | — | — | — | — | |||||||||||||
| Liquefied Petroleum Gas | — | — | — | — | |||||||||||||
| Total | $1.59B | $1.84B | $1.79B | $1.61B |
Seapeak brought in $1.61B from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $1.91B it reports by segment, so these segments do not cover all of its revenue. Lng Segment was the largest at $1.26B (78.6%), ahead of Natural Gas Liquid at $343.47M (21.4%).
Compared with fiscal 2024, Lng Segment fell 9.5% to $1.26B and Natural Gas Liquid fell 12.3% to $343.47M.
Lease Component was Seapeak’s largest revenue line in fiscal 2017, bringing in $1.20B of $1.26B (95%).
| Nature of Expense | FY 2017 |
|---|---|
| Lease Component | $1.20B |
| Non Lease Component | $63.68M |
| Total | $1.26B |
Seapeak brought in $1.26B from its two revenue lines in fiscal 2017, the year ended December 31, 2017. Lease Component was the largest at $1.20B (95.0%), ahead of Non Lease Component at $63.68M (5.0%).
Seapeak (SEAL-PA) reports its revenue by segment, by statement business segments and by nature of expense. In fiscal 2025, Lease Revenue was its largest segment, bringing in $1.50B (78.4% of the total), followed by Management Fees & Other at $303.87M (15.9%).
Lease Revenue was Seapeak's largest segment in fiscal 2025, bringing in $1.50B, or 78.4% of the $1.91B total across its three segments.
Lease Component was Seapeak's largest revenue line in fiscal 2017, bringing in $1.20B, or 95.0% of the $1.26B total across its two revenue lines.
Every figure comes from Seapeak's annual financial filings, as reported. Each line keeps the name Seapeak gives it, and years follow its fiscal calendar.
Seapeak's revenue by segment goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.