Energy Transfer
ET
20.48
-0.26
-1.25%
Energy Transfer
US · ET
#311 by market cap
Listed 1970
20.48
-0.26
-1.25%
Live - 5344 symbols - heartbeat 549s ago
· 2026-10-08 04:59
Pre-market
20.60
+0.59%
After-hours
20.49
+0.04%
Overnight
20.58
+0.49%
- Market cap
- 70.52B
- P/E (TTM)i
- 14.03
- P/Bi
- 2.00
- EPSi
- 1.21
- Div yieldi
- 6.52%
- 52W posi
- 80%
Reader sentiment
Are you bullish or bearish on ET?
Anonymous reader poll. Unscientific, not investment advice.
Revenue annual, last 8 years
Latest year +3.47% YoY
Margins
- Gross margin
- 19.13%
- Operating margin
- 10.89%
- Net margin
- 4.88%
Key ratios & quality
- Enterprise valuei
- 137.82B
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 54.09B | 54.21B | 38.95B | 67.42B | 89.88B | 78.59B | 82.67B | 85.54B |
| Gross profit | 9.63B | 11.27B | 9.79B | 13.21B | 13.48B | 13.66B | 15.53B | 16.36B |
| Selling & admin expenses | 702.00M | 694.00M | 711.00M | 818.00M | 1.02B | 985.00M | 1.18B | 1.18B |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 5.83B | 7.28B | 5.86B | 8.81B | 8.12B | 8.31B | 9.19B | 9.31B |
| Pretax profit | 3.69B | 5.02B | 377.00M | 6.87B | 6.07B | 5.60B | 7.11B | 6.06B |
| Tax | 4.00M | 195.00M | 237.00M | 184.00M | 204.00M | 303.00M | 541.00M | 350.00M |
| Net profit | 3.42B | 4.83B | 140.00M | 6.69B | 5.87B | 5.29B | 6.57B | 5.71B |
| Basic EPS | 1 | 1 | 0 | 2 | 1 | 1 | 1 | 1 |
| Diluted EPS | 1.19 | 1.33 | -0.24 | 1.89 | 1.40 | 1.09 | 1.28 | 1.21 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 21.02B | 19.24B | 19.95B | 25.32B | 27.77B | 34.33B |
| Gross profit | 4.08B | 3.91B | 3.95B | 4.41B | 5.04B | 5.82B |
| Selling & admin expenses | 288.00M | 257.00M | 268.00M | 367.00M | 361.00M | 421.00M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 2.50B | 2.31B | 2.15B | 2.35B | 2.98B | 3.57B |
| Pretax profit | 1.76B | 1.54B | 1.38B | 1.38B | 2.11B | 2.72B |
| Tax | 41.00M | 79.00M | 87.00M | 143.00M | 135.00M | 194.00M |
| Net profit | 1.72B | 1.46B | 1.29B | 1.24B | 1.98B | 2.53B |
| Basic EPS | 0 | 0 | 0 | 0 | 0 | 1 |
| Diluted EPS | 0.36 | 0.32 | 0.28 | 0.25 | 0.35 | 0.59 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 6.75B | 7.46B | 6.32B | 10.54B | 12.08B | 12.43B | 14.20B | 18.23B |
| Cash & ST investments | 419.00M | 291.00M | 367.00M | 336.00M | 257.00M | 161.00M | 312.00M | 1.27B |
| Inventory | 1.68B | 1.53B | 1.74B | 2.01B | 2.46B | 2.48B | 3.07B | 4.77B |
| Total assets | 88.25B | 98.97B | 95.14B | 105.96B | 105.64B | 113.70B | 125.38B | 141.29B |
| Total current liabilities | 9.31B | 7.72B | 5.92B | 10.84B | 10.37B | 11.28B | 12.66B | 14.96B |
| Short-term debt | 2.66B | 86.00M | 74.00M | 727.00M | 47.00M | 1.06B | 75.00M | 270.00M |
| Long-term debt | 43.37B | 51.03B | 51.42B | 49.02B | 48.26B | 51.38B | 59.75B | 68.31B |
| Total liabilities | 56,897,000,000.00 | 64,296,000,000.00 | 62,994,000,000.00 | 65,835,000,000.00 | 64,491,000,000.00 | 68,981,000,000.00 | 78,946,000,000.00 | 92,026,000,000.00 |
| Total equity | 31.35B | 34.68B | 32.15B | 40.13B | 41.15B | 44.72B | 46.43B | 49.26B |
| Retained earnings | -- | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 15.24B | 13.67B | 17.44B | 18.23B | 22.26B | 23.11B |
| Cash & ST investments | 453.00M | 242.00M | 3.57B | 1.27B | 951.00M | 1.02B |
| Inventory | 2.79B | 2.80B | 3.27B | 4.77B | 4.65B | 4.39B |
| Total assets | 126.43B | 125.02B | 129.33B | 141.29B | 147.48B | 148.17B |
| Total current liabilities | 13.57B | 11.85B | 12.41B | 14.96B | 19.04B | 19.86B |
| Short-term debt | 73.00M | 73.00M | 75.00M | 270.00M | 220.00M | 227.00M |
| Long-term debt | 59.78B | 60.75B | 63.10B | 68.31B | 69.32B | 68.39B |
| Total liabilities | 79,845,000,000.00 | 79,165,000,000.00 | 82,187,000,000.00 | 92,026,000,000.00 | 97,493,000,000.00 | 97,390,000,000.00 |
| Total equity | 46.58B | 45.86B | 47.14B | 49.26B | 49.99B | 50.78B |
| Retained earnings | -- | -- | -- | -- | -- | -- |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 7.51B | 8.06B | 7.36B | 11.16B | 9.05B | 9.56B | 11.51B | 10.15B |
| Depreciation & amortization | 2.86B | 3.15B | 3.68B | 3.82B | 4.16B | 4.39B | 5.17B | 5.68B |
| Free cash flow | 99.00M | 2.10B | 2.23B | 8.34B | 5.67B | 6.42B | 7.34B | 3.85B |
| Dividends paid | -1.68B | -3.05B | -2.80B | -1.90B | -3.05B | -4.25B | -4.62B | -4.73B |
| Stock buybacks / issuance | 1.38B | 755.00M | 1.58B | 858.00M | -- | -- | -- | -- |
| Ending cash balance | 419.00M | 291.00M | 367.00M | 336.00M | 257.00M | 161.00M | 312.00M | 1.27B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 2.92B | 2.76B | 2.57B | 1.90B | 3.38B | 4.27B |
| Depreciation & amortization | 1.37B | 1.38B | 1.44B | 1.49B | 1.58B | 1.58B |
| Free cash flow | 1.69B | 1.10B | 1.28B | -225.00M | 1.46B | 2.71B |
| Dividends paid | -1.13B | -1.22B | -1.15B | -1.22B | -1.17B | -1.24B |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- |
| Ending cash balance | 453.00M | 242.00M | 3.57B | 1.27B | 951.00M | 1.02B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 17.13 | 16.93 | -3.21 | 20.79 | 13.46 | 9.95 | 12.24 | 12.01 |
| ROA %i | 1.90 | 3.83 | -0.67 | 5.15 | 4.09 | 3.16 | 3.68 | 3.13 |
| ROIC %i | 3.03 | 8.30 | 1.45 | 9.67 | 8.00 | 6.87 | 7.85 | 7.44 |
| 5-year avg ROE %i | -- | -- | -- | -- | 13.06 | 11.51 | 10.65 | 13.69 |
| EBIT margin %i | 10.68 | 13.70 | 6.94 | 13.55 | 9.32 | 10.40 | 12.38 | 11.14 |
| FCF / sales %i | 0.18 | 3.77 | 5.73 | 12.37 | 6.31 | 8.17 | 8.88 | 4.50 |
| Current ratioi | 0.73 | 0.97 | 1.07 | 0.97 | 1.17 | 1.10 | 1.12 | 1.22 |
| Quick ratioi | 0.50 | 0.73 | 0.74 | 0.75 | 0.86 | 0.83 | 0.84 | 0.85 |
| Debt / assetsi | 52.16 | 52.55 | 55.00 | 47.72 | 46.48 | 46.81 | 48.30 | 49.61 |
| LT debt / equityi | 210.97 | 236.90 | 282.01 | 159.22 | 148.55 | 142.19 | 172.23 | 203.17 |
| Interest coveragei | -- | 3.19 | 1.16 | 4.03 | 3.63 | 3.17 | 3.27 | 2.74 |
| Revenue CAGR (3Y) %i | 14.43 | 19.47 | -1.31 | 7.62 | 18.35 | 26.36 | 7.04 | -1.64 |
| Net income CAGR (3Y) %i | 13.73 | 52.34 | -- | 46.24 | 10.57 | -- | -4.17 | -2.32 |
| FCF CAGR (3Y) %i | -- | -- | -- | 338.37 | 39.34 | 42.24 | -4.16 | -12.14 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 12.80 | 12.94 | 12.34 | 12.01 | 11.79 | 14.40 |
| ROA %i | 3.77 | 3.63 | 3.40 | 3.13 | 3.00 | 3.70 |
| ROIC %i | 8.11 | 8.04 | 7.73 | 7.44 | 7.42 | 8.38 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 12.54 | 12.05 | 12.08 | 11.14 | 10.86 | 10.50 |
| FCF / sales %i | 7.38 | 7.08 | 6.51 | 4.50 | 3.92 | 4.86 |
| Current ratioi | 1.12 | 1.15 | 1.41 | 1.22 | 1.17 | 1.16 |
| Quick ratioi | 0.88 | 0.87 | 1.10 | 0.85 | 0.88 | 0.91 |
| Debt / assetsi | 47.94 | 49.25 | 49.47 | 49.61 | 48.21 | 47.41 |
| LT debt / equityi | 171.40 | 176.84 | 184.27 | 203.17 | 205.69 | 198.17 |
| Interest coveragei | 3.21 | 2.94 | 2.86 | 2.74 | 2.77 | 3.06 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Diversified
- Investment in Sunoco LP is the largest reported line at 41.53% of revenue, across 9 reported segments.
- No single line clears half of revenue; Crude oil transportation and services is next at 32.19%, spreading the business across more than one real driver.
Revenue breakdown most recent period
Business
Investment in Sunoco LP41.53%
Crude oil transportation and services32.19%
Natural gas liquid (NGL) and refined products transportation and services22.48%
Midstream8.22%
Interstate transportation and storage1.77%
intrastate transportation and storage1.74%
All other1.65%
Investment in USA Compression (USAC)1.00%
Quote time 2026-10-08 04:59:12 · For reference only, not investment advice and not tailored to your situation.