15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $85.5B | $4.4B | 25.8% | 10.6% | $3.8B | $68.3B | $1.3B |
| 2024 | $82.7B | $4.8B | 25.0% | 11.1% | $7.3B | $59.8B | $312M |
| 2023 | $78.6B | $3.9B | 23.0% | 10.6% | $6.4B | $52.4B | $161M |
| 2022 | $89.9B | $4.8B | 19.6% | 8.6% | $5.7B | $48.3B | $257M |
| 2021 | $67.4B | $5.5B | 25.2% | 13.0% | $8.3B | $49.7B | $336M |
| 2020 | $39.0B | -$648M | 34.6% | 7.7% | $2.2B | $51.4B | $367M |
| 2019 | $54.2B | $3.5B | 26.6% | 13.3% | $2.1B | $51.1B | $291M |
| 2018 | $54.1B | $1.7B | 23.1% | 10.0% | $99M | $46.0B | — |
| 2017 | $40.5B | $954M | 23.6% | 6.7% | -$4.0B | $44.1B | — |
| 2016 | $31.8B | $995M | 25.5% | 5.8% | -$4.4B | $43.8B | — |
| 2015 | $36.1B | $1.2B | 0.0% | 6.3% | -$6.1B | $37.0B | — |
| 2014 | $52.6B | $633M | 13.9% | 4.5% | -$2.5B | $30.5B | — |
| 2013 | $48.3B | $196M | 12.0% | 3.2% | -$1.1B | $23.2B | — |
| 2012 | $17.0B | $304M | 22.8% | 8.0% | -$2.2B | $22.1B | — |
| 2011 | $8.2B | $310M | 36.9% | 15.1% | -$432M | $11.4B | — |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $27.8B | $1.3B | 23.8% | 10.7% | $1.5B | $69.3B | $951M |
| Dec '25 | $25.3B | $928M | 23.3% | 8.2% | -$225M | $68.3B | $1.3B |
| Sep '25 | $20.0B | $1.0B | 27.0% | 10.8% | $1.3B | $63.1B | $3.6B |
| Jun '25 | $19.2B | $1.2B | 27.5% | 12.0% | $1.1B | $60.8B | $242M |
| Mar '25 | $21.0B | $1.3B | 25.9% | 11.9% | $1.7B | $59.8B | $453M |
| Dec '24 | $19.5B | $1.1B | 27.6% | 11.7% | $1.1B | $59.8B | $312M |
| Sep '24 | $20.8B | $1.2B | 24.8% | 10.5% | $1.8B | $59.3B | $299M |
| Jun '24 | $20.7B | $1.3B | 24.7% | 11.1% | $1.5B | $57.6B | $650M |
| Mar '24 | $21.6B | $1.2B | 23.3% | 11.0% | $3.0B | $53.5B | $1.9B |
| Dec '23 | $20.5B | $1.3B | 23.1% | 10.5% | $592M | $52.4B | $161M |
| Sep '23 | $20.7B | $584M | 22.6% | 10.8% | $1.7B | $48.1B | $514M |
| Jun '23 | $18.3B | $911M | 23.1% | 10.0% | $1.7B | $48.1B | $330M |
| Mar '23 | $19.0B | $1.1B | 23.1% | 10.9% | $2.5B | $47.2B | $330M |
| Dec '22 | $20.5B | $1.2B | 21.6% | 8.8% | $450M | $48.3B | $257M |
| Sep '22 | $22.9B | $1.0B | 19.3% | 8.6% | $2.0B | $47.4B | $326M |
| Jun '22 | $25.9B | $1.3B | 17.1% | 8.1% | $1.6B | $48.6B | $353M |
| Mar '22 | $20.5B | $1.3B | 21.2% | 9.0% | $1.6B | $49.9B | $1.1B |
| Dec '21 | $18.7B | $921M | 20.9% | 9.1% | $963M | $49.7B | $336M |
| Sep '21 | $16.7B | $635M | 20.9% | 8.6% | $1.6B | $45.5B | $313M |
| Jun '21 | $15.1B | $626M | 23.8% | 10.6% | $1.3B | $46.3B | $282M |
How the market has priced ET against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Energy Transfer Lp's revenue has grown 17.0% per year. These are computed facts, not advice.
As of FY2025, Energy Transfer Lp reported $68.3B of total debt against $1.3B of cash; operating income covered interest expense 2.6×.
In FY2025, gross margin was 25.8%, operating margin 10.6%, and net margin 5.2%.
As of Jun '26, Energy Transfer Lp traded at a price-to-earnings ratio of about 14.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.