Sunday 11 October 2026
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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. In the quarter to June 2026, revenue grew 60.8%, EPS grew 27.3%, free cash flow grew 162.1% and total debt rose 1.51%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.
36.08
0.67
−1.82%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 19.00 | 23.59 | 23.10 | 24.23 | 10.27 | 19.28 | 22.01 | 24.03 | 26.12 | 27.77 |
Analyst estimates 2026–2028 Powerpack |
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| High | 30.11 | 30.25 | 30.05 | 30.87 | 29.22 | 25.69 | 28.65 | 27.95 | 34.63 | 34.53 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | 7,130 | 6,911 | 7,300 | 7,500 | 7,800 | 8,000 | ||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 3.81 | 5.90 | 7.97 | 6.63 | 7.21 | 6.57 | |||||
| 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 | ||||
| Gross margin, % | 14.68 | 12.60 | 14.06 | 17.47 | 17.75 | 14.04 | 11.49 | 13.47 | 12.76 | 13.61 | |||||
| EBT | 2,576 | 2,881 | 4,299 | 4,733 | 3,762 | 4,825 | 5,697 | 5,701 | 6,035 | 5,899 | |||||
| EBT margin, % | 11.19 | 9.85 | 11.77 | 14.43 | 13.83 | 11.82 | 9.79 | 11.47 | 10.73 | 11.22 | |||||
| Net income | 2,553 | 2,856 | 4,239 | 4,687 | 3,886 | 4,755 | 5,615 | 5,657 | 5,970 | 5,876 | |||||
| Depreciation | 1,552 | 1,644 | 1,792 | 1,949 | 2,368 | 2,140 | 2,298 | 2,343 | 2,473 | 2,623 | |||||
| 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 | ||||
| Earnings | 1.20 | 1.30 | 1.91 | 2.09 | 1.71 | 2.10 | 2.50 | 2.52 | 2.69 | 2.66 | |||||
| Cash flow | 1.95 | 2.18 | 2.81 | 2.98 | 2.69 | 3.90 | 3.69 | 3.48 | 3.74 | 3.96 | |||||
| Capex | (1.41) | (1.43) | (1.87) | (2.06) | (1.50) | (0.99) | (0.85) | (1.48) | (2.09) | (2.56) | |||||
| Free cash flow | 0.54 | 0.75 | 0.95 | 0.92 | 1.20 | 2.91 | 2.85 | 2.00 | 1.65 | 1.41 | |||||
| Book value | 10.70 | 10.62 | 11.16 | 11.80 | 11.61 | 12.11 | 12.72 | 13.24 | 13.64 | 14.11 | |||||
| Shares, m | 2,081 | 2,145 | 2,177 | 2,189 | 2,186 | 2,183 | 2,178 | 2,172 | 2,169 | 2,166 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 22.43 | 20.68 | 12.87 | 13.54 | 11.46 | 10.46 | 9.69 | 10.57 | 11.66 | 12.05 | ||||
| P/S | 2.43 | 1.97 | 1.46 | 1.88 | 1.57 | 1.17 | 0.91 | 1.16 | 1.21 | 1.32 | |||||
| P/B | 2.52 | 2.53 | 2.20 | 2.39 | 1.69 | 1.81 | 1.91 | 2.01 | 2.30 | 2.27 | |||||
| EV/Sales | 3.44 | 2.81 | 2.17 | 2.71 | 2.63 | 1.83 | 1.39 | 1.74 | 1.76 | 1.95 | |||||
| EV/FCF | 70.22 | 51.20 | 38.41 | 44.22 | 27.34 | 11.73 | 13.05 | 19.86 | 27.64 | 33.67 | |||||
| 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 | ||||
| Capex | (2,938) | (3,062) | (4,062) | (4,511) | (3,275) | (2,159) | (1,842) | (3,224) | (4,530) | (5,538) | |||||
| Free cash flow | 1,129 | 1,605 | 2,064 | 2,009 | 2,616 | 6,354 | 6,197 | 4,345 | 3,585 | 3,047 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | (1,722) | (2,789) | (1,107) | (1,267) | 921 | 1,645 | (1,667) | (883) | (44) | 528 | ||||
| Total debt | 23,698 | 24,569 | 26,178 | 27,625 | 29,866 | 29,535 | 28,295 | 28,748 | 31,896 | 34,395 | |||||
| Net debt | 23,280 | 24,498 | 25,768 | 27,215 | 28,708 | 26,570 | 28,089 | 28,428 | 31,058 | 33,150 | |||||
| Shareholders’ equity | 22,266 | 22,772 | 24,292 | 25,828 | 25,377 | 26,439 | 27,702 | 28,759 | 29,589 | 30,570 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 4.98 | 5.22 | 7.45 | 7.69 | 6.00 | 7.04 | 8.02 | 7.88 | 7.89 | 7.42 | ||||
| ROIC | 4.91 | 5.19 | 6.75 | 7.16 | 5.82 | 7.20 | 7.74 | 7.57 | 7.56 | 7.13 | |||||
| ROE | 11.75 | 12.36 | 17.64 | 18.21 | 14.74 | 17.89 | 20.10 | 19.41 | 20.02 | 19.13 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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) | $88.5B | 28.9× | 30.7× | +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. | $79.4B | 12.5× | 13.0× | +60.78% (above 0%: growing) | +27.27% (above 0%: growing) | +162.10% (above 0%: growing) | 12.06% | 12.31% | |
| KMI Kinder Morgan, Inc. | $71.8B | 20.8× | 21.4× | +10.76% (above 0%: growing) | +21.88% (above 0%: growing) | −52.59% (below 0%: shrinking) | 68.62% | 30.06% | Compare |
| ET Energy Transfer LP | $71.0B | 13.9× | 13.1× | +78.43% (above 0%: growing) | +84.37% (above 0%: growing) | +146.15% (above 0%: growing) | 21.55% | 10.41% | Compare |
| TRP TC Energy Corporation | $62.5B | 24.9× | 24.9× | +5.59% (above 0%: growing) | +18.28% (above 0%: growing) | +24.24% (above 0%: growing) | 70.23% | 54.92% | Compare |
| TRGP Targa Resources, Inc. | $61.9B | 27.3× | 24.7× | +4.23% (above 0%: growing) | +22.92% (above 0%: growing) | +1,002.09% (above 0%: growing) | 48.15% | 27.80% | Compare |
| MPLX MPLX LP | $58.1B | 12.1× | 13.1× | +10.29% (above 0%: growing) | +2.91% (above 0%: growing) | −38.89% (below 0%: shrinking) | 56.91% | 41.61% | Compare |
| LNG Cheniere Energy, Inc. | $57.4B | 20.6× | — (loss-making) | +23.51% (above 0%: growing) | +100.55% (above 0%: growing) | +452.21% (above 0%: growing) | 83.04% | 74.84% | Compare |
| OKE ONEOK, Inc. | $56.9B | 15.5× | 15.5× | +52.77% (above 0%: growing) | +14.18% (above 0%: growing) | +85.57% (above 0%: growing) | 23.30% | 13.22% | Compare |
| Median of peers | $62.2B | 20.7× | 21.4× | +10.53% | +22.40% | +54.91% | 62.77% | 34.39% |
Enterprise Products Partners L.P. (EPD) key facts
- Concern: Enterprise Products Partners L.P.’s revenue for fiscal 2025 (year ended December 2025) was $52.6 billion, down 6.44% from fiscal 2024.
- Concern: Net income was $5.9 billion, or $2.66 per share (basic), a net margin of 10.9%.
- Enterprise Products Partners L.P. (EPD) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
- As of October 9, 2026, EPD traded at $36.08, a market capitalization of $79.4 billion.
- At that price the stock trades at 12.5× trailing-twelve-month earnings and 1.3× sales; its P/E is higher than 48% of its own readings over the past ten years.
- Enterprise Products Partners L.P. pays an annual dividend of $2.21 per share, a yield of 6.11%, with a payout ratio of 76.6%.
- Return on equity was 19.1% and debt-to-equity 1.07.
- Its Piotroski F-score is 6 out of 9 for fiscal 2025.
Enterprise Products Partners L.P. (EPD) Latest News
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