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Enterprise Products Partners L.P.

EPD Energy Oil & Gas Midstream

Enterprise Products Partners L.P.’s revenue for fiscal 2025 (year ended December 2025) was $52.6 billion, down 6.44% from fiscal 2024.

Revenue
+60.8%
EPS
+27.3%
Free cash flow
+162.1%
Total debt
+1.51%

Quarter to June 2026, against a year earlier

38.15 0.90 −2.30%
Market cap
$84.3B
P/E
13.3×
Fwd P/E
12.6×
Dividend yield
5.80%
F-score
6/9
Altman Z
n/a
Beneish M
−2.97
Dividend safety
41/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Revenue by segment Fiscal 2025

  • Crude Oil Pipelines & Services
  • NGL Pipelines & Services
  • Petrochemical & Refined Products Services
  • Natural Gas Pipelines & Services

Every year since 2009 →

Insider Decisions last twelve months

Bought, $m 0.58
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — 1 — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 33.43%

Capital & Financial Ratios $m

Size
Market Cap 84,330.00
Revenue ttm 58,471.00
Net income ttm 6,368.00
Free cash flow ttm 4,126.00
Net debt Q 32,883.00
Valuation
P/E 13.29
Forward P/E 12.60
Price / sales 1.42
Forward P/S Powerpack
Price / FCF 20.07
Price / book 2.67
Financial health
Current ratio Q 0.93 (below 1: weak)
Debt / equity Q 1.07
Interest coverage Q 5.86
Growth
Revenue growth Q +60.78% (above 0%: growing)
Operating income growth Q +25.29% (above 0%: growing)
EPS, this year +14.53%
EPS, next year A +7.20%
Revenue, next year A +26.66% (at or above 10%: strong)
EPS, past 5 yrs +9.24%
EPS, next 5 yrs A +10.03%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.0×, against a ten-year median of 2.2×; over the ten years it ranged from 1.4× in 2023 to 3.6× in 2016.
P/E against its own 10 years 58.43%
10-year low 10-year high
P/S against its own 10 years 47.89%
10-year low 10-year high
P/B against its own 10 years 91.96%
10-year low 10-year high
EV/Sales against its own 10 years 39.22%
10-year low 10-year high
EV/FCF against its own 10 years 44.25%
10-year low 10-year high

Dividends raised every year since 2017

Yield
5.80%
Annual rate
2.22
Payout ratio
77.1%
Growth, 2017–26
+3.23%/yr
  1. 1.67 ’17
  2. 1.72 ’18 +3%
  3. 1.76 ’19 +2%
  4. 1.78 ’20 +1%
  5. 1.80 ’21 +1%
  6. 1.88 ’22 +4%
  7. 1.98 ’23 +5%
  8. 2.08 ’24 +5%
  9. 2.16 ’25 +4%
  10. 2.22 ’26 +3%
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 320 838 1,245 345
Receivables 7,772 9,240 6,495 9,403
Inventory 3,352 3,955 3,884 4,666
Other 347 534 434 659
12,248 15,133 13,360 15,905
2023 2024 2025 Q'26
Payables 1,394 1,425 1,238 1,483
ST’ Debt 1,300 1,150 1,625 2,023
Other 1,071 1,289 1,220 1,321
13,131 15,177 12,832 17,152

Compound Annual Growth %

10y 5y 3y
Sales 6.88% 14.10% (3.31%)
Cash Flow 7.93% 7.82% 2.21%
Earnings 8.60% 8.80% 1.89%
Book Value 4.08% 3.79% 3.34%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.74 Actual 0.75

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.70 0.75 Beat by 0.05
Q1 FY26 0.71 0.68 Miss by 0.03
Q2 FY26 0.75 0.84 Beat by 0.09
Q3 FY26 0.74 0.75 Beat by 0.01
Q4 FY26 0.79 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.68 0.84 — — —
’25 0.64 0.66 0.61 0.75 2.66
’24 0.66 0.64 0.65 0.74 2.69
’23 0.63 0.57 0.60 0.72 2.52
’22 0.59 0.64 0.62 0.65 2.50
’21 0.61 0.50 0.52 0.47 2.10
’20 0.61 0.47 0.48 0.15 1.71
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 14,386 18,269 — — —
’25 15,417 11,363 12,023 13,793 52,596
’24 14,760 13,483 13,775 14,201 56,219
’23 12,444 10,651 11,998 14,622 49,715
’22 13,008 16,060 15,468 13,650 58,186
’21 9,155 9,450 10,832 11,370 40,807
’20 7,483 5,751 6,922 7,045 27,200
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,469 3,181 — — —
’25 2,314 2,061 1,738 2,472 8,585
’24 2,111 1,574 2,072 2,358 8,115
’23 1,583 1,902 1,718 2,366 7,569
’22 2,145 2,119 1,050 2,725 8,039
’21 2,023 1,994 2,370 2,126 8,513
’20 2,012 1,182 1,098 1,599 5,891
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,082 2,026 — — —
’25 1,256 773 (214) 1,232 3,047
’24 1,066 314 903 1,302 3,585
’23 932 1,126 898 1,389 4,345
’22 1,807 1,740 584 2,066 6,197
’21 1,350 1,416 1,873 1,715 6,354
’20 933 289 406 988 2,616
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 23,022 29,242 36,534 32,789 27,200 40,807 58,186 49,715 56,219 52,596 58,471 +9.6% 66,618 67,737 71,763 +10.9%
Gross margin, % 14.68 12.60 14.06 17.47 17.75 14.04 11.49 13.47 12.76 13.61 13.25 (1.1) pt
EBT 2,576 2,881 4,299 4,733 3,762 4,825 5,697 5,701 6,035 5,899 6,385 +9.6%
EBT margin, % 11.19 9.85 11.77 14.43 13.83 11.82 9.79 11.47 10.73 11.22 10.92 0.0 pt
Net income 2,553 2,856 4,239 4,687 3,886 4,755 5,615 5,657 5,970 5,876 6,368 +9.7%
Per share, $
Per share, $ Revenue 11.06 13.63 16.79 14.98 12.44 18.69 26.72 22.89 25.92 24.28 27.03 +9.1%
Earnings 1.20 1.30 1.91 2.09 1.71 2.10 2.50 2.52 2.69 2.66 2.88 +9.2%
Cash flow 1.95 2.18 2.81 2.98 2.69 3.90 3.69 3.48 3.74 3.96 4.10 +8.2%
Capex (1.41) (1.43) (1.87) (2.06) (1.50) (0.99) (0.85) (1.48) (2.09) (2.56) (2.19) +6.8%
Free cash flow 0.54 0.75 0.95 0.92 1.20 2.91 2.85 2.00 1.65 1.41 1.91 +11.2%
Book value 10.70 10.62 11.16 11.80 11.61 12.11 12.72 13.24 13.64 14.11 14.36 +3.1%
Shares, m 2,081 2,145 2,177 2,189 2,186 2,183 2,178 2,172 2,169 2,166 2,164 +0.4%
Valuation, ×
Valuation, × P/E 22.43 20.68 12.87 13.54 11.46 10.46 9.69 10.57 11.66 12.05 13.29 13.5
P/S 2.43 1.97 1.46 1.88 1.57 1.17 0.91 1.16 1.21 1.32 1.42 1.5
P/B 2.52 2.53 2.20 2.39 1.69 1.81 1.91 2.01 2.30 2.27 2.67 2.2
EV/Sales 3.44 2.81 2.17 2.71 2.63 1.83 1.39 1.74 1.76 1.95 1.98 2.2
EV/FCF 70.22 51.20 38.41 44.22 27.34 11.73 13.05 19.86 27.64 33.67 28.04 33.7
Cash, $m
Cash, $m Operating cash flow 4,067 4,666 6,126 6,521 5,891 8,513 8,039 7,569 8,115 8,585 8,860 +8.7%
Capex (2,938) (3,062) (4,062) (4,511) (3,275) (2,159) (1,842) (3,224) (4,530) (5,538) (4,734) +7.3%
Free cash flow 1,129 1,605 2,064 2,009 2,616 6,354 6,197 4,345 3,585 3,047 4,126 +11.7%
Balance, $m
Balance, $m Working capital (1,722) (2,789) (1,107) (1,267) 921 1,645 (1,667) (883) (44) 528 (1,247) n/m
Net debt 23,280 24,498 25,768 27,215 28,708 26,570 28,089 28,428 31,058 33,150 32,883 +4.0%
Shareholders’ equity 22,266 22,772 24,292 25,828 25,377 26,439 27,702 28,759 29,589 30,570 31,064 +3.6%
Returns, %
Returns, % ROA 4.98 5.22 7.45 7.69 6.00 7.04 8.02 7.88 7.89 7.42 7.84 +2.4 pt
ROIC 4.91 5.19 6.75 7.16 5.82 7.20 7.74 7.57 7.56 7.13 7.68 +2.2 pt
ROE 11.75 12.36 17.64 18.21 14.74 17.89 20.10 19.41 20.02 19.13 20.48 +7.4 pt
People
People Employees — — — — 7,130 6,911 7,300 7,500 7,800 8,000 — +2.3%
Revenue/emp, $m 0.00 0.00 0.00 0.00 3.81 5.90 7.97 6.63 7.21 6.57 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Business profile

Updated

Enterprise Products Partners is a North American energy infrastructure business. It moves, processes, stores and exports natural gas, natural gas liquids, crude oil and other products for producers, marketers and industrial customers. Founded in 1968 and headquartered in Houston, its publicly traded partnership was formed in April 1998. Jim Teague and Randy Fowler are co-chief executives; Teague said Fowler would become sole CEO in January.

The partnership operates between energy production and consumption. Its natural gas facilities remove liquids and impurities from gas so it can enter pipelines and be used as fuel. Other facilities separate mixed natural gas liquids, or NGLs, into products such as ethane and propane. These products can be used for heating, fuel or as raw materials for petrochemicals.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Crude Oil Pipelines & Services 20,761 39.47%
NGL Pipelines & Services 17,316 32.92%
Petrochemical & Refined Products Services 10,352 19.68%
Natural Gas Pipelines & Services 4,167 7.92%
Gross margin 13.61%
Operating margin 13.81%
Pre-tax margin 11.22%

Revenue by segment since 2009

Enterprise Products Partners L.P. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WMB Williams Companies, Inc. (The) $91.6B 29.5× 29.8× +9.78% (above 0%: growing) +51.11% (above 0%: growing) −195.82% (below 0%: shrinking) 83.33% 38.72% Compare
EPD Enterprise Products Partners L.P. $84.3B 13.3× 12.6× +60.78% (above 0%: growing) +27.27% (above 0%: growing) +162.10% (above 0%: growing) 12.06% 12.31%
KMI Kinder Morgan, Inc. $75.7B 21.7× 22.0× +10.76% (above 0%: growing) +21.88% (above 0%: growing) −52.59% (below 0%: shrinking) 68.62% 30.06% Compare
ET Energy Transfer LP $71.9B 14.2× 12.0× +78.43% (above 0%: growing) +84.37% (above 0%: growing) +146.15% (above 0%: growing) 21.55% 10.41% Compare
TRP TC Energy Corporation $67.0B 26.8× 23.4× +5.59% (above 0%: growing) +18.28% (above 0%: growing) +24.24% (above 0%: growing) 70.23% 54.92% Compare
TRGP Targa Resources, Inc. $67.0B 30.1× 27.8× +4.23% (above 0%: growing) +22.92% (above 0%: growing) +1,002.09% (above 0%: growing) 48.15% 27.80% Compare
LNG Cheniere Energy, Inc. $65.9B 24.5× 27.5× +23.51% (above 0%: growing) +100.55% (above 0%: growing) +452.21% (above 0%: growing) 83.04% 74.84% Compare
MPLX MPLX LP $60.7B 12.9× 14.0× +10.29% (above 0%: growing) +2.91% (above 0%: growing) −38.89% (below 0%: shrinking) 56.91% 41.61% Compare
OKE ONEOK, Inc. $60.4B 16.7× 15.2× +52.77% (above 0%: growing) +14.18% (above 0%: growing) +85.57% (above 0%: growing) 23.30% 13.22% Compare
Median of peers $67.0B 23.1× 22.7× +10.53% +22.40% +54.91% 62.77% 34.39%

All 57 Oil & Gas Midstream stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 24.43%
Held by the ten largest 9.57%
Holder Shares Stake Change
ALPS ADVISORS INC 43.66m 2.02% +133.96k
Invesco 26.62m 1.23% −29.38k
Blackstone Inc. 23.76m 1.10% +2.66m
Morgan Stanley 22.25m 1.03% +829.68k
TORTOISE CAPITAL ADVISORS, L.L.C. 18.64m 0.86% +3.78m
Goldman Sachs 17.52m 0.81% −2.57m
Fayez Sarofim & Co 16.00m 0.74% −200.20k
Neuberger Berman 13.56m 0.63% −80.31k
KAYNE ANDERSON CAPITAL ADVISORS LP 12.87m 0.60% −162.17k
American Century 11.83m 0.55% +448.73k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 24 October 2022

Ownership

Directors and executive officers, together 32.60%
Randa Duncan Williams 32.30% of Common Units
Total for Randa Duncan Williams 32.30%
Through EPCO Holdings, Inc. 27.40%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Enterprise Products Partners L.P. (EPD) Latest News

31 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

30 Oct

Impact 4 · · MarketBeat
Impact 3 · · Zacks

29 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · Associated Press earnings
Impact 4 · · Business Wire earnings
Impact 3 · · Zacks
Impact 3 · · Zacks

27 Oct

Impact 4 · · The Motley Fool
Impact 3 · · Zacks

26 Oct

Impact 3 · · Zacks

25 Oct

Impact 4 · · 24/7 Wall St.

23 Oct

Impact 4 · · Simply Wall St.

22 Oct

Impact 4 · · The Motley Fool
Impact 4 · · 24/7 Wall St.

21 Oct

Impact 3 · · Zacks

20 Oct

Impact 3 · · Insider Monkey
Impact 3 · · The Motley Fool

19 Oct

Impact 4 · · TIKR

17 Oct

Impact 3 · · Simply Wall St.

16 Oct

Impact 3 · · Simply Wall St.

14 Oct

Impact 3 · · Zacks

12 Oct

Impact 3 · · TIKR

10 Oct

Impact 3 · · The Motley Fool

9 Oct

Impact 4 · · Insider Monkey
Impact 3 · · TheStreet
Impact 3 · · Insider Monkey

8 Oct

Impact 4 · · The Motley Fool
Impact 3 · · Simply Wall St.
stockrow.com/EPD · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com