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Energy Transfer LP

ET Energy Oil & Gas Midstream

Energy Transfer LP’s revenue for fiscal 2025 (year ended December 2025) was $85.5 billion, up 3.47% from fiscal 2024.

Revenue: +78.4%
EPS: +84.4%
Free cash flow: +146.2%
Total debt: +12.6%

Quarter to June 2026, against a year earlier

20.91 0.03 +0.14%

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Market cap: $71.9B
P/E: 14.2×
Fwd P/E: 12.0×
Dividend yield: 8.07%
F-score: 5/9
Altman Z: n/a
Beneish M: −2.48
Dividend safety: 66/100

Overview Business Profile Earnings & Analysis Segments Filings

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	20.18	21.12	11.01	9.43	0.00	4.31	8.24	12.73	15.19	13.52
Piotroski F-Score Full definition →	5	6	6	6	5	6	6	4	6	5
P/S ratio Full definition →	0.63	0.47	0.35	0.62	0.43	0.33	0.40	0.56	0.80	0.66
P/FCF ratio Full definition →	0.00	0.00	189.98	16.09	7.47	2.68	6.24	6.83	7.99	14.72
P/Operating CF Full definition →	(118.59)	18.77	8.51	16.13	8.74	12.94	26.81	33.86	25.68	29.83
Beneish M-Score Full definition →	(2.36)	(2.35)	(2.62)	(2.42)	(3.34)	(1.67)	(2.33)	(2.61)	(2.68)	(2.48)
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	66
P/B ratio Full definition →	0.90	0.65	0.61	0.99	0.53	0.68	1.04	1.17	1.58	1.24
Price to Tangible BV Full definition →	1.81	1.03	0.94	1.49	0.72	0.90	1.35	1.61	2.06	1.73
EV/Sales Full definition →	2.00	1.55	1.19	1.56	1.74	1.07	0.93	1.22	1.52	1.45
EV/EBITDA Full definition →	18.46	9.96	7.80	8.16	10.17	5.70	7.05	7.58	8.81	8.41
EV/Operating CF Full definition →	28.65	14.20	8.58	10.49	9.20	6.44	9.27	10.06	10.95	12.19
EV/FCF Full definition →	(17.40)	(15.66)	650.68	40.31	30.36	8.57	14.59	14.97	15.12	32.16
Quick Ratio Full definition →	0.58	0.64	0.50	0.73	0.74	0.75	0.86	0.83	0.84	0.85
Current Ratio Full definition →	0.95	1.35	0.73	0.97	1.07	0.97	1.17	1.10	1.12	1.22
Net Debt/EBITDA Full definition →	8.53	6.93	5.52	4.90	7.67	3.92	4.03	4.12	4.16	4.56
Debt/Assets Full definition →	55.82%	51.11%	52.16%	51.58%	54.06%	46.91%	45.68%	46.08%	47.66%	48.37%
Debt/Equity Full definition →	1.96	1.47	1.49	1.50	1.64	1.26	1.19	1.19	1.30	1.39
Asset Turnover Full definition →	0.42	0.49	0.62	0.58	0.40	0.67	0.85	0.72	0.69	0.64
Operating CF/Net income Full definition →	3.38	4.84	4.38	2.29	(11.38)	2.16	2.09	2.75	2.62	2.43
Capex/Depreciation Full definition →	(2.39)	(2.35)	(2.59)	(1.89)	(1.39)	(0.73)	(0.79)	(0.71)	(0.62)	(1.11)
Interest Coverage Full definition →	1.03	1.42	2.63	3.09	1.28	3.88	3.36	3.22	2.92	2.60
ROE Full definition →	4.29%	3.53%	5.67%	10.85%	(1.98%)	16.01%	12.75%	9.62%	11.03%	9.50%
ROA Full definition →	1.31%	1.11%	1.96%	3.75%	(0.67%)	5.15%	4.09%	3.16%	3.68%	3.13%
ROIC Full definition →	1.75%	2.31%	4.42%	5.32%	2.26%	6.19%	5.45%	5.39%	5.42%	4.86%
Return on Tangible Assets Full definition →	1.85%	1.43%	2.66%	4.75%	(0.86%)	6.37%	5.28%	4.01%	4.54%	3.96%
Average Days of Receivables Full definition →	42.85	42.27	28.30	35.97	37.38	41.90	35.04	42.80	45.63	48.86
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	2.06%	1.48%	1.30%	1.28%	1.83%	1.21%	1.13%	1.25%	1.42%	1.38%
Intangible Assets out of Total Assets Full definition →	0.14	0.13	0.12	0.11	0.09	0.08	0.08	0.09	0.08	0.09
Share Based Compensation of Revenue Full definition →	0.22%	0.24%	0.19%	0.21%	0.31%	0.16%	0.13%	0.17%	0.18%	0.17%
Graham Net Nets Full definition →	(2.47)	(2.38)	(2.69)	(1.71)	(3.45)	(2.49)	(1.47)	(1.31)	(0.98)	(1.31)
Graham Number Full definition →	21.33	22.75	24.19	19.88	0.00	22.87	18.86	17.05	18.99	19.11
Earnings Yield Full definition →	4.96%	4.74%	9.08%	10.60%	(4.69%)	23.21%	12.13%	7.85%	6.58%	7.40%
Free Cash Flow Yield Full definition →	(18.24%)	(20.99%)	0.53%	6.22%	13.39%	37.26%	16.03%	14.63%	12.52%	6.79%
Revenue per Share Full definition →	30.41	37.58	37.99	20.63	14.45	24.66	29.12	24.86	24.35	24.92
Operating CF per Share Full definition →	3.18	4.11	5.27	3.07	2.73	4.08	2.93	3.02	3.39	2.96
Capex per Share Full definition →	(7.43)	(7.83)	(5.20)	(2.27)	(1.90)	(1.02)	(1.07)	(0.99)	(0.94)	(1.84)
Free Cash Flow per Share Full definition →	(4.26)	(3.72)	0.07	0.80	0.83	3.07	1.86	2.03	2.45	1.12
Cash per Share Full definition →	0.45	0.31	0.29	0.11	0.14	0.12	0.08	0.05	0.09	0.37
Shareholders Equity per Share Full definition →	21.45	27.81	21.67	12.91	11.64	14.39	13.17	13.90	13.55	14.28
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	21.45	27.81	21.67	12.91	11.64	14.39	13.17	13.90	13.55	14.28
Free Cash Flow Full definition →	(4,449.00)	(4,015.00)	99.00	2,096.00	2,231.00	8,385.00	5,748.00	6,421.00	8,329.00	3,846.00
Working Capital Full definition →	(378.00)	2,786.00	(2,560.00)	(260.00)	394.00	(298.00)	1,713.00	1,156.00	1,546.00	3,278.00
Capital Expenditures Full definition →	(7,771.00)	(8,444.00)	(7,407.00)	(5,960.00)	(5,130.00)	(2,777.00)	(3,303.00)	(3,134.00)	(3,177.00)	(6,303.00)
Net Current Asset Value Full definition →	(49,595.00)	(45,583.00)	(50,646.00)	(57,571.00)	(57,439.00)	(56,081.00)	(52,903.00)	(57,326.00)	(65,161.00)	(74,043.00)
EV/EBIT Full definition →	34.37	23.11	11.92	11.73	22.73	8.17	10.84	11.59	13.78	13.70
Capex to Sales Full definition →	0.24	0.21	0.14	0.11	0.13	0.04	0.04	0.04	0.04	0.07
Price to Operating Income Full definition →	10.83	7.03	3.48	4.68	5.59	2.56	4.64	5.29	7.28	6.27
Other line items
Depreciation/Fixed assets Full definition →	0.06	0.06	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.06
Cash ROIC Full definition →	(6.65%)	(5.40%)	0.13%	2.46%	2.68%	9.38%	6.45%	6.65%	7.85%	3.24%
Accounts Receivable Turnover Full definition →	10.17	9.62	12.17	11.37	8.35	11.50	10.98	8.81	8.46	7.85
Accounts Payable Turnover Full definition →	8.11	7.50	10.06	10.34	7.30	10.42	10.47	8.87	8.26	7.12
Inventory Turnover Full definition →	12.84	15.19	22.49	24.81	15.58	26.86	32.28	24.52	22.34	16.20
Average Days of Payables Full definition →	54.60	55.59	31.16	38.05	40.61	49.50	35.22	40.30	49.03	54.67
Days of Inventory on Hand Full definition →	31.66	23.83	14.71	14.05	24.90	14.59	12.44	14.94	18.08	27.42
Average Receivables Full definition →	3,125.50	4,212.50	4,443.00	4,768.00	4,666.00	5,864.50	8,183.50	8,921.00	9,774.50	10,892.50
Average Payables Full definition →	2,923.00	4,130.00	4,134.00	3,850.50	3,492.50	4,835.00	6,901.50	6,826.50	7,504.50	8,917.50
Average Inventory Full definition →	1,845.50	2,038.50	1,849.50	1,604.50	1,635.50	1,876.50	2,237.50	2,469.50	2,774.00	3,920.00
Average Assets Full definition →	75,057.00	82,585.50	87,246.00	93,609.50	97,058.50	100,553.50	105,803.00	109,670.50	119,539.00	133,333.00
Average Common Equity Full definition →	22,924.50	25,890.50	30,190.00	32,394.00	32,663.00	32,341.00	33,951.00	36,044.00	39,822.50	43,909.50

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