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ET FINANCIAL STATEMENTS

Energy Transfer LP — balance sheet, income statement and cash flow trends

ETEnergy Transfer LP

🇺🇸 USA · US · Energy · Oil & Gas Midstream

Value itDuel
PriceFinancialsPeers

Income Statement

Quarterly progression — trailing-twelve-month values
RevenueNet Income
050 B202120222023202420252026

Profit Funnel

Q1 2026 · TTM
Revenue89.4 B $Gross Profit20.5 B $ · 23%Operating Income9.9 B $ · 11%Pre-tax Income6.6 B $ · 7%Net Income4.8 B $ · 5%

Percentages are relative to revenue.

Key Figures

YoY change
Revenue89.4 B $+8.9%
Gross Profit20.5 B $+28.4%
Operating Income9.9 B $+7.4%
EBITDA14.7 B $-5.7%
Net Income4.8 B $-1.3%

Peer Comparison· Oil & Gas Midstream

CompanyRev. GrowthGross MarginEBITDA MarginNet Margin
ET8.9%22.9%16.4%5.4%
Industry median9.4%40.8%44.7%17.6%

Balance Sheet

Quarterly period-end values
Total AssetsTotal LiabilitiesEquity
050 B100 B150 B202120222023202420252026

Capital Structure

Q1 2026
Total Assets147.5 B
  • Equity34.5 B $26%
  • Current Liabilities19 B $14%
  • Long-term Liabilities78.5 B $59%

Key Figures

YoY change
Total Assets147.5 B $+16.7%
Total Liabilities97.5 B $+22.1%
Total Equity34.5 B $-2.4%
Cash & ST Investments971 M $+111.5%
Total Debt71.1 B $+17.3%
Net Debt70.2 B $+16.6%

Peer Comparison· Oil & Gas Midstream

CompanyCurrent RatioDebt/EquityNetDebt/EBITDAEquity/Assets
ET1.17206.3%4.7823.4%
Industry median1.26102.3%3.3433.4%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values
Operating Cash FlowCapital ExpendituresFree Cash Flow
05 B10 B202120222023202420252026

Cash Flow Bridge

Q1 2026 · TTM
05 B10 B10.6 B $Operating-9.7 B $Investing-406 M $Financing498 M $Net Change

Key Figures

YoY change
Operating Cash Flow10.6 B $-0.0%
Capital Expenditures7 B $+52.3%
Free Cash Flow3.7 B $-39.7%
Dividends Paid-4.8 B $-202.9%

Peer Comparison· Oil & Gas Midstream

CompanyCF MarginFCF MarginCapEx RatioCF/Net Income
ET11.9%4.1%7.8%220.4%
Industry median36.3%9.5%17.1%182.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. This content is for informational purposes only and is not investment advice.