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

Quarter to September 2026, against a year earlier

19.21 0.25 −1.28%

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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

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Energy Transfer LP (ET) Price to free cash flow

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As of 5 November 2026, Energy Transfer LP (ET) trades at a price to free cash flow of 9.9×. Over the past ten years it has ranged from 0.0× (December 2018) to 225× (February 2019); the current reading is higher than 74% of that period. That is above the Oil & Gas Midstream industry median of 8.5× and above the Energy sector median of 8.9×.

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<iframe src="https://stockrow.com/embed/ET/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="Energy Transfer LP price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/ET/metrics/price-to-free-cash-flow">Energy Transfer LP (ET) price to free cash flow — stockrow.com</a></p>

Period	Price to free cash flow	Change
FY2025	14.7×	84.32%
FY2024	8.0×	16.84%
FY2023	6.8×	9.52%
FY2022	6.2×	132.50%
FY2021	2.7×	(64.06%)
FY2020	7.5×	(53.58%)
FY2019	16.1×	(91.53%)
FY2018	190×	—
FY2017	0.0×	—
FY2016	0.0×	—

Period	Price to free cash flow	Change
Sep 2026	10.2×	(19.02%)
Jun 2026	12.6×	(31.45%)
Mar 2026	18.4×	24.80%
Dec 2025	14.7×	29.57%
43 more quarters	Free account

Against its own ten years

Low 0.0× High 225×

Ten-year median 6.2×

Current reading's percentile 74

Company	Price to free cash flow
WMB Williams Companies, Inc. (The) compare	n/m
ET Energy Transfer LP	9.9×
MPLX MPLX LP compare	14.0×
LNG Cheniere Energy, Inc. compare	15.3×
EPD Enterprise Products Partners L.P. compare	17.3×
OKE ONEOK, Inc. compare	21.6×
TRP TC Energy Corporation compare	22.3×
KMI Kinder Morgan, Inc. compare	25.5×
TRGP Targa Resources, Inc. compare	62.7×
Oil & Gas Midstream industry median	8.5×
Energy sector median	8.9×
Market median	14.1×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

Energy Transfer LP (ET) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

Annual newest first

Quarterly newest first

Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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