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ET (Energy Transfer LP) Stock Financials & Earnings | Market Cap Arena
ET
Energy Transfer LP
Mkt Cap
$64B
Energy
·
Oil & Gas Midstream
·
🇺🇸 United States
·
NYSE
Revenue (TTM)
$82.6B
Net Income (TTM)
$4.9B
EPS (TTM)
$1.35
Free Cash Flow (TTM)
$3.8B
Gross Margin
21.8%
Op. Margin
11.4%
Net Margin
5.9%
FCF Margin
4.7%
P/S Ratio (TTM)
0.8x
P/E Ratio (TTM)
13.1x
YoY Rev Growth
-0.1%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$19.0B
$3.4B
$2.1B
Q2 23
$18.3B
$3.1B
$1.8B
Q3 23
$20.7B
$3.6B
$2.2B
Q4 23
$20.5B
$3.7B
$2.2B
Q1 24
$21.6B
$3.9B
$2.4B
Q2 24
$20.7B
$3.9B
$2.3B
Q3 24
$20.8B
$3.8B
$2.2B
Q4 24
$19.5B
$4.1B
$2.3B
Q1 25
$21.0B
$4.2B
$2.5B
Q2 25
$19.2B
$2.7B
$2.4B
Q3 25
$20.0B
$5.4B
$2.2B
Q4 25
$22.4B
$5.8B
$2.4B
marketcaparena.com
Revenue Breakdown
ET
Energy Transfer LP
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
0.7x
13.9x
Q2 23
0.8x
15.3x
Q3 23
0.8x
17.0x
Q4 23
0.8x
16.3x
Q1 24
0.8x
15.8x
Q2 24
0.8x
14.4x
Q3 24
0.8x
12.7x
Q4 24
0.8x
13.3x
Q1 25
0.8x
13.1x
Q2 25
0.8x
13.7x
Q3 25
0.8x
14.2x
Q4 25
0.8x
13.1x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$3.4B
$2.5B
Q2 23
$2.5B
$1.7B
Q3 23
$2.4B
$1.7B
Q4 23
$1.3B
$592M
Q1 24
$3.8B
$3.0B
Q2 24
$2.3B
$1.5B
Q3 24
$2.9B
$1.8B
Q4 24
$2.6B
$1.1B
Q1 25
$2.9B
$1.7B
Q2 25
$2.8B
$1.1B
Q3 25
$2.6B
$1.3B
Q4 25
$1.9B
-$225M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$853M
Q2 23
$876M
Q3 23
$701M
Q4 23
$704M
Q1 24
$795M
Q2 24
$811M
Q3 24
$1.1B
Q4 24
$1.5B
Q1 25
$1.2B
Q2 25
$1.7B
Q3 25
$1.3B
Q4 25
$2.1B
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
-7.3%
-9.2%
Q2 23
-29.4%
-30.8%
Q3 23
-9.6%
-11.7%
Q4 23
+0.2%
-1.8%
Q1 24
+13.9%
+13.7%
Q2 24
+13.1%
+11.8%
Q3 24
+0.2%
+0.5%
Q4 24
-4.8%
-6.0%
Q1 25
-2.8%
-3.7%
Q2 25
-7.2%
-8.8%
Q3 25
-3.9%
-4.2%
Q4 25
+14.7%
+16.1%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$37M
0.2%
Q2 23
$27M
0.1%
Q3 23
$35M
0.2%
Q4 23
$31M
0.2%
Q1 24
$46M
0.2%
Q2 24
$30M
0.1%
Q3 24
$37M
0.2%
Q4 24
$38M
0.2%
Q1 25
$37M
0.2%
Q2 25
$33M
0.2%
Q3 25
$40M
0.2%
Q4 25
$38M
0.2%
marketcaparena.com
OpEx Breakdown
G&A
SG&A
Quarter
G&A
SG&A
Q1 23
—
$238M
Q2 23
—
$228M
Q3 23
—
$234M
Q4 23
—
$409M
Q1 24
—
$260M
Q2 24
—
$332M
Q3 24
—
$297M
Q4 24
—
$448M
Q1 25
—
$288M
Q2 25
—
$257M
Q3 25
—
$268M
Q4 25
$205M
—
marketcaparena.com
Revenue Segments
NGL sales
Natural Gas, Midstream
Natural gas sales
Oil and Gas
Oil and Gas, Refining and Marketing
Product and Service, Other
Crude sales
Gathering, transportation and other fees
Refined Products
Refined product sales
Quarter
NGL sales
Natural Gas, Midstream
Natural gas sales
Oil and Gas
Oil and Gas, Refining and Marketing
Product and Service, Other
Crude sales
Gathering, transportation and other fees
Refined Products
Refined product sales
Q1 23
$4.2B
$2.8B
$899M
$5.5B
$5.5B
$227M
—
—
—
—
Q2 23
$3.5B
—
$685M
—
—
$268M
$5.2B
$2.8B
$5.8B
—
Q3 23
$3.8B
—
$878M
—
—
$287M
$6.6B
$2.8B
$6.4B
—
Q1 24
$5.3B
—
$855M
—
—
$265M
$6.8B
$2.9B
$5.5B
—
Q2 24
$4.4B
—
$460M
—
—
$327M
$6.6B
$3.0B
$6.0B
—
Q3 24
$4.7B
—
$505M
—
—
$413M
$6.5B
$3.1B
$5.6B
—
Q1 25
$5.6B
—
$1.6B
—
—
$380M
$5.4B
$3.0B
—
$5.0B
Q2 25
$4.5B
—
$1.1B
—
—
$405M
$5.0B
$3.1B
—
$5.2B
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$330M
$6M
$336M
Q2 23
$330M
$15M
$345M
Q3 23
$514M
$14M
$528M
Q4 23
$161M
$66M
$227M
Q1 24
$1.9B
$27M
$2.0B
Q2 24
$650M
$28M
$678M
Q3 24
$299M
$26M
$325M
Q4 24
$312M
$9M
$321M
Q1 25
$453M
$6M
$459M
Q2 25
$242M
$12M
$254M
Q3 25
$3.6B
$20M
$3.6B
Q4 25
$1.3B
$52M
$1.3B
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
3.12B
+0.4%
Q2 23
3.15B
+1.1%
Q3 23
3.17B
+0.6%
Q4 23
3.30B
+4.0%
Q1 24
3.39B
+2.9%
Q2 24
3.39B
+0.1%
Q3 24
3.44B
+1.4%
Q4 24
3.45B
+0.3%
Q1 25
3.45B
+0.1%
Q2 25
3.45B
+0.0%
Q3 25
3.64B
+5.4%
Q4 25
3.65B
+0.3%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$2M
28K
FY 15
$1M
30K
FY 16
$1M
31K
FY 17
$1M
29K
FY 18
$5M
12K
FY 19
$4M
13K
FY 20
$3M
11K
FY 21
$5M
13K
FY 22
$7M
13K
FY 23
$6M
14K
FY 24
$5M
16K
FY 25
$5M
16K
marketcaparena.com