Energy Transfer LP
ET TXSE· Natural Gas Transmission
Last close · Oct 27, 2026
$20.41
KIRA · Stoqly’s AI analyst, in plain words
- Energy Transfer LP had $85.5B of revenue in fiscal 2025, up 3.5% on the year before. Over five years, revenue changed +17.0% a year on average.
- Its operating margin was 10.6%, down 0.5 pts: of every 100 in sales, about 11 is left after running the business.
- Energy Transfer LP made $4.4B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 3.1% a year.
- Free cash flow was $3.8B in fiscal 2025, 4.5% of revenue.
- Energy Transfer LP owes $67.2B more than it holds in cash, about 4.6 years of operating profit.
Market cap
$70.7B
P/E
13.9x
Revenue
$85.5B
Net income
$4.4B
Free cash flow
$3.8B
Operating margin
10.6%
Energy Transfer LP in 30 seconds · fiscal 2025
Are sales growing?
+3.5%
Only a little. Sales grew 3.5% last year.
Does it make a profit?
5.2%
A little. It keeps 5.2% of every sale as profit.
Does profit turn into cash?
4.5%
Partly. 4.5% of sales ends up as free cash.
Is debt under control?
4.6x
Heavy. Repaying its debt would take 4.6 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
13.9x
One share costs 13.9 times its yearly profit per share.
What Energy Transfer LP does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 19, 2026
- Legal name
- Energy Transfer LP
- CIK
- 0001276187
Energy Transfer LP · ET
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $67.4B | $89.9B | $78.6B | $82.7B | $85.5B |
| Revenue growth | 73.1% | 33.3% | −12.6% | 5.2% | 3.5% |
| Gross margin | 25.2% | 19.6% | 23.0% | 25.0% | 25.8% |
| Operating margin | 13.0% | 8.6% | 10.6% | 11.1% | 10.6% |
| Net income | $5.5B | $4.8B | $3.9B | $4.8B | $4.4B |
| Net margin | 8.1% | 5.3% | 5.0% | 5.8% | 5.2% |
| Diluted EPS | $1.89 | $1.40 | $1.09 | $1.28 | $1.21 |
| Cash | |||||
| Cash from operations | $11.2B | $9.1B | $9.6B | $11.5B | $10.1B |
| Capital expenditure | $2.8B | $3.4B | $3.1B | $4.2B | $6.3B |
| Free cash flow | $8.3B | $5.7B | $6.4B | $7.3B | $3.8B |
| FCF margin | 12.4% | 6.3% | 8.2% | 8.9% | 4.5% |
| Share buybacks | $31.0M | $0.0M | $0.0M | — | — |
| Share count change | 1.6% | 13.0% | 2.6% | 7.7% | 0.8% |
| Debt and strength | |||||
| Cash and short-term investments | $336M | $257M | $161M | $312M | $1.3B |
| Debt incl. finance leases | $49.7B | $48.3B | $52.4B | $59.8B | $68.4B |
| Shareholders' equity | $39.3B | $40.7B | $43.9B | $46.0B | $49.0B |
| Net debt / EBITDA | 3.9x | 4.0x | 4.1x | 4.2x | 4.6x |
| Current ratio | 1.0x | 1.2x | 1.1x | 1.1x | 1.2x |
| Interest coverage | 3.9x | 3.4x | 3.2x | 2.9x | 2.6x |
| Returns and quality | |||||
| Return on capital | 9.6% | 6.9% | 6.8% | 6.8% | 6.1% |
| Return on equity | 15.5% | 11.9% | 9.3% | 10.7% | 9.3% |
| Return on tangible equity | 17.7% | 14.6% | 11.7% | 13.3% | 12.3% |
| Piotroski F-score | 6 | 6 | 4 | 6 | 5 |
Insiders bought, 12 months
$55.3M
2 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Energy Transfer LP · ET
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $20.41 a share, the company is worth $70.7B: 13.9 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001276187). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.