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
+85.9%
EPS
+17.9%
Free cash flow
+215.5%
Total debt
+9.11%

Quarter to September 2026, against a year earlier

18.95 0.10 +0.53%
Market cap
$66.1B
P/E
12.6×
Fwd P/E
12.0×
Dividend yield
8.78%
F-score
5/9
Altman Z
n/a
Beneish M
−2.48
Dividend safety
66/100

Energy Transfer LP (ET) Free cash flow

Alert me on Free cash flow

Energy Transfer LP's free cash flow for fiscal 2025 was $3.8B, down 53.8% from $8.3B in fiscal 2024. Over the twelve months to 30 September 2026 it was $13.6B. Over the past ten years it has ranged from −$6.1B (fiscal 2015) to $8.4B (fiscal 2021); the current reading is higher than 64% of that period. Energy Transfer LP ranks 1st of 56 Oil & Gas Midstream companies by free cash flow.

Free cash flow, annual

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Annual newest first

Period Free cash flow Change
FY2025 $3.8B (53.82%)
FY2024 $8.3B 29.71%
FY2023 $6.4B 11.71%
FY2022 $5.7B (31.45%)
FY2021 $8.4B 275.84%
FY2020 $2.2B 6.44%
FY2019 $2.1B 2,017.17%
FY2018 $99.0M —
FY2017 −$4.0B —
FY2016 −$4.4B —

Quarterly newest first

Period Free cash flow Change
Sep 2026 $4.0B 48.14%
Jun 2026 $2.7B 85.70%
Mar 2026 $1.5B —
Dec 2025 −$225.0M —
43 more quarters

Against its own ten years

Low −$6.1B High $8.4B
Ten-year median $2.2B
Current reading's percentile 64

Free cash flow against peers

What Free cash flow is

Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.

Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)

The full definition of Free cash flow →

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