Energy Transfer LP (ET.PI) stock analysis

P/E against its history

Not enough price and earnings history to compare.

P/E against the industry

Needs positive earnings and enough profitable companies in the industry.

EV/EBITDA against its history

Needs positive EBITDA and price history.

P/S below the industry

Energy Transfer LP's price-to-sales of 0.67 is below the Gas Production and Distribution median of 3.01 (book value is negative, so we use sales).

Trading below fair value

The share price of $20.88 is below our fair value estimate of $36.53.

Margin of safety over 20%

The price is 42.8% below fair value, more than the 20% cushion we look for.

Revenue growing under 10% a year

Revenue grew -1.6% a year over the last three fiscal years, short of the 10% we look for.

EPS growth over 3 years

Needs positive EPS three years ago and today.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing faster than the industry

Revenue grew 33.3% over the last twelve months; the Gas Production and Distribution median is 12.0%.

Guidance raised

Energy Transfer LP raised its full year of 2026 Adjusted EBITDA outlook on Aug 4, 2026.

Gross margin slipping

Gross margin was 23.6% over the last twelve months, against 26.4% a year earlier.

Return on equity

Needs positive equity and five years of results.

Return on invested capital

Needs operating income and invested capital.

Return on equity against the industry

Needs positive equity.

Earnings over 5 years

Needs positive net income five years ago and in the latest year.

Net margin below its 5-year average

Net margin was 4.9% over the last twelve months, against a 5-year average of 5.9%.

Net margin below the industry

Energy Transfer LP's net margin of 4.9% is below the Gas Production and Distribution median of 13.3%.

Debt level

Needs debt and equity figures.

Debt trend

Needs a balance sheet from five years ago with positive equity.

Debt not well covered by cash flow

Operating cash flow over the last twelve months equals 17.7% of total debt; we look for at least 20%.

Interest not well covered

Operating income covers interest expense 2.9 times; we look for at least 5.

Short-term assets cover short-term debts

Current assets are 1.16 times current liabilities.

Bankruptcy risk (Altman Z)

Needs market value, working capital and retained earnings.

Pays a dividend

Energy Transfer LP paid dividends worth 6.4% of the share price over the last twelve months.

Yield above Treasuries

The 6.4% yield is above the 4.4% on a 1-year Treasury.

Yield in the top quarter

The top quarter of US dividend payers yield 4.0% or more; Energy Transfer LP yields 6.4%.

Dividend stability

Fewer than five years of dividend history.

Earnings cover

Needs dividends paid and net income.

Cash-flow cover

Needs dividends paid and free cash flow.