Energy Transfer LP

Energy Transfer LP

ET
Energy Transfer LPUS flagNew York Stock Exchange
20.33
USD
-0.16
- -
69.96BMarket Cap
Energy Transfer LP
ET
(New York Stock Exchange)

Recent

price

20.33

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
7.35
9.18
15.87
43.09
50.86
33.96
30.41
37.58
37.99
20.63
14.45
24.66
29.12
24.86
24.35
24.92
31.24
Revenue per Share
0.22
0.35
0.28
0.17
0.58
1.12
0.95
0.88
1.23
1.34
-0.24
2
1.54
1.24
1.42
1.29
1.54
Basic EPS, GAAP
1.22
1.55
1.01
2.16
2.9
2.8
3.18
4.11
5.27
3.07
2.73
4.08
2.93
3.02
3.39
2.96
3.53
Free Cash Flow per Basic Share
0.54
0.59
0.62
0.65
0.75
1.03
0.98
0.94
1.18
1.16
1.04
0.69
0.99
1.34
1.36
1.38
1.39
Dividend per Share
0.14
0.06
1.89
0.96
0.62
-0.89
-1.62
-1.11
7.85
8.15
6.86
10.15
10.67
10.89
10.24
9.99
10.26
Book Value per Share
-3.07
-3.43
-5.9
-6.32
-11.86
-13.24
-12.3
-11.19
3.69
3.94
3.85
7.43
8.09
7.85
7.36
6.24
6.55
Tangible Book Value per Share
892
892
1,069
1,122
1,095
1,063
1,046
1,078
1,424
2,628
2,696
2,734
3,087
3,162
3,395
3,433
3,438
Basic Weighted Avg Shares
6,556
8,190
16,964
48,335
55,691
36,096
31,792
40,523
54,087
54,213
38,954
67,417
89,876
78,586
82,671
85,536
107,379
Sales/Revenue/Turnover
15.92
15.1
8.02
4.29
5.1
7.28
9.09
9.28
10.79
13.42
15.04
13.07
9.04
10.57
11.12
10.89
10.3
Operating Margin (%)
406
586
871
1,313
1,724
1,951
2,216
2,554
2,859
3,147
3,678
3,817
4,164
4,385
5,165
5,682
6,089
Depreciation Expense
193
310
304
196
633
1,189
995
954
1,749
3,518
-648
5,470
4,756
3,935
4,814
4,433
5,289
Net Income, GAAP
3.9
3.1
3.76
24.8
25.19
- -
- -
- -
0.11
3.88
62.86
2.68
3.36
5.41
7.61
5.78
7.36
Effective Tax Rate (%)
2.94
3.79
1.79
0.41
1.14
3.29
3.13
2.35
3.23
6.49
-1.66
8.11
5.29
5.01
5.82
5.18
4.93
Profit Margin (%)
210
-386
-248
36
-544
500
-378
2,786
-2,560
-260
394
-298
1,713
1,156
1,546
3,278
3,255
Working Capital
9,346
10,947
21,440
22,562
29,477
36,837
42,858
43,671
43,373
51,929
52,254
49,836
49,058
52,158
60,482
69,823
70,014
LT Debt
6,248
7,388
16,350
16,279
22,329
23,613
22,446
30,001
31,349
34,677
32,150
40,128
41,152
44,717
46,434
49,260
50,778
Total Equity
7.53
6.95
4.54
3.97
4.57
- -
- -
- -
7.67
8.5
2.53
9.75
8.63
8.3
8.23
7.7
8.97
Return on Invested Capital (%)
4.88
4.71
1.1
2.56
2.53
- -
- -
- -
2.81
5.43
-0.67
7.37
6.49
5.33
5.81
5.68
6.09
Return on Capital (%)
317.83
355.85
27.89
12.28
72.45
- -
- -
- -
- -
16.54
-3.2
21.93
14.77
11.28
13.4
12.75
15.07
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
270
220
227
LT Borrowings
68,308
69,317
68,393
LT Finance Leases
1,515
1,569
1,621
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,440
3,441
3,443
Market Capitalization
56,725
66,413
65,836

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
18,233
22,263
23,113
Cash, Cash Equivalents & STI
1,272
951
1,020
Accounts Receivable, Net
11,275
15,686
16,818
Inventories
4,770
4,645
4,385
Total Current Liabilities
14,955
19,043
19,858
Payables & Accruals
12,924
18,787
19,623
ST Debt
270
220
227
Deferred Revenue
709
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.25%
9.19%
6.09%
Free Cash Flow
15.99%
9.39%
-11.79%
Net Income, GAAP
-91.44%
-192%
-7.91%
Sales/Revenue/Turnover
12.36%
20.5%
3.47%
Total Cash Common Dividend
21.16%
15.77%
2.21%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
21,629
20,729
20,772
19,541
82,671
2025
21,020
19,242
19,954
25,320
85,536
2026
27,771
34,334
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.37
0.39
0.35
0.31
1.42
2025
0.39
0.34
0.3
0.27
1.29
2026
0.36
0.61
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.33
0.36
0.32
0.35
1.36
2025
0.33
0.36
0.33
0.36
1.38
2026
0.34
0.36
- -
- -
- -
Business
Energy Transfer LP (NYSE: ET), founded in 1996 and headquartered in Dallas, Texas, owns and operates one of the largest and most diversified portfolios of energy assets in the United States with more than 125,000 miles of pipelines for natural gas, crude oil, natural gas liquids (NGLs), refined products, and liquefied natural gas (LNG). The master limited partnership provides midstream services including interstate and intrastate natural gas transportation and transmission pipelines; natural gas gathering, compression, processing, treating, and conditioning facilities; crude oil, NGL, and refined products gathering, transportation, storage, and terminalling; NGL fractionation, storage, and export terminaling; refined products marketing and wholesale power trading; carbon dioxide and hydrogen sulfide removal services; and water gathering and transportation for natural gas producers, primarily across major U.S. producing basins in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, Montana, North Dakota, Wyoming, Louisiana, and South Texas. It holds controlling interests in Sunoco LP (fuel distribution and marketing), a 46% non-economic general partner interest in USA Compression Partners LP (compression services), and 100% of Lake Charles LNG (import terminal and regasification facility near Lake Charles, Louisiana); key pipeline ownership includes 100% of Trunkline, Transwestern, Panhandle Eastern, Sea Robin, Revolution, and Mariner East pipelines, 50% of Florida Gas Transmission, 32.6% of Rover, 60% of Bayou Bridge, and 36.4% of Dakota Access and Energy Transfer Crude Oil pipelines. Recent developments include the July 2024 acquisition of WTG Midstream following earlier deals for Lotus Midstream (May 2023) and Crestwood Equity Partners (November 2023, valued at $7.1 billion); a joint venture with Sunoco LP to combine crude oil and produced water gathering assets in the Permian Basin; completion of organic growth projects such as the Badger processing plant relocation, Nederland Flexport NGL expansion, first of eight 10-megawatt natural gas power plants, and September 2025 expansion of Price River Terminal in Utah to double export capacity; a December 2024 20-year LNG sale and purchase agreement for 2.0 million tonnes per annum; long-term natural gas supply agreements including with Chevron for Lake Charles LNG and Oracle for AI data centers; and $4.6 billion in growth capital expenditures for 2025 targeting projects like Mustang Draw II processing plant, Hugh Brinson Pipeline Phase II, Bethel storage expansion, Desert Southwest expansion, and potential final investment decision on Lake Charles LNG export facility.

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