Energy Transfer LP (ET.PI) stock
ET.PITXSENatural Gas TransmissionFiscal year ends December 31Also trades as ET
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026Score 9/3043% below fair value
$10.66−0.22 (-2.02%)
Close on Oct 19, 2026Market cap $36.71BP/E –Yield –
Energy Transfer LP operating margin
Operating margin is operating income as a percentage of revenue.
Energy Transfer LP's operating margin for the twelve months ending Jun 30, 2026 was 10.0%. For fiscal 2025 it was 10.6%, against 11.1% the year before. The highest annual figure on record is 20.5% in fiscal 2009.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 10.6% | −0.5 |
| FY2024 | Dec 31, 2024 | 11.1% | +0.5 |
| FY2023 | Dec 31, 2023 | 10.6% | +1.9 |
| FY2022 | Dec 31, 2022 | 8.6% | −4.4 |
| FY2021 | Dec 31, 2021 | 13.0% | +5.4 |
| FY2020 | Dec 31, 2020 | 7.7% | −5.6 |
| FY2019 | Dec 31, 2019 | 13.3% | +3.3 |
| FY2018 | Dec 31, 2018 | 10.0% | +3.3 |
| FY2017 | Dec 31, 2017 | 6.7% | +0.9 |
| FY2016 | Dec 31, 2016 | 5.8% | −0.5 |
| FY2015 | Dec 31, 2015 | 6.3% | +1.9 |
| FY2014 | Dec 31, 2014 | 4.4% | +1.2 |
| FY2013 | Dec 31, 2013 | 3.2% | −4.8 |
| FY2012 | Dec 31, 2012 | 8.0% | −7.1 |
| FY2011 | Dec 31, 2011 | 15.1% | −0.8 |
| FY2010 | Dec 31, 2010 | 15.9% | −4.6 |
| FY2009 | Dec 31, 2009 | 20.5% | +8.7 |
| FY2008 | Dec 31, 2008 | 11.8% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q2 FY2026 | Jun 30, 2026 | 10.4% | −1.6 |
| Q1 FY2026 | Mar 31, 2026 | 10.7% | −1.1 |
| Q4 FY2025 | Dec 31, 2025 | 8.2% | −3.5 |
| Q3 FY2025 | Sep 30, 2025 | 10.8% | +0.3 |
| Q2 FY2025 | Jun 30, 2025 | 12.0% | +0.9 |
| Q1 FY2025 | Mar 31, 2025 | 11.9% | +0.8 |
| Q4 FY2024 | Dec 31, 2024 | 11.7% | +1.1 |
| Q3 FY2024 | Sep 30, 2024 | 10.5% | −0.3 |
| Q2 FY2024 | Jun 30, 2024 | 11.1% | +1.1 |
| Q1 FY2024 | Mar 31, 2024 | 11.0% | +0.1 |
| Q4 FY2023 | Dec 31, 2023 | 10.5% | +1.7 |
| Q3 FY2023 | Sep 30, 2023 | 10.8% | +2.2 |
| Q2 FY2023 | Jun 30, 2023 | 10.0% | +1.9 |
| Q1 FY2023 | Mar 31, 2023 | 10.9% | +1.8 |
| Q4 FY2022 | Dec 31, 2022 | 8.8% | −0.2 |
| Q3 FY2022 | Sep 30, 2022 | 8.6% | −0.0 |
| Q2 FY2022 | Jun 30, 2022 | 8.1% | −2.4 |
| Q1 FY2022 | Mar 31, 2022 | 9.0% | −14.9 |
| Q4 FY2021 | Dec 31, 2021 | 9.1% | −4.3 |
| Q3 FY2021 | Sep 30, 2021 | 8.6% | +6.2 |
| Q2 FY2021 | Jun 30, 2021 | 10.6% | −7.6 |
| Q1 FY2021 | Mar 31, 2021 | 23.9% | +23.4 |
| Q4 FY2020 | Dec 31, 2020 | 13.3% | +1.5 |
| Q3 FY2020 | Sep 30, 2020 | 2.5% | −11.1 |
| Q2 FY2020 | Jun 30, 2020 | 18.2% | +5.1 |
| Q1 FY2020 | Mar 31, 2020 | 0.5% | −14.2 |
| Q4 FY2019 | Dec 31, 2019 | 11.9% | +1.4 |
| Q3 FY2019 | Sep 30, 2019 | 13.6% | +1.8 |
| Q2 FY2019 | Jun 30, 2019 | 13.1% | +5.1 |
| Q1 FY2019 | Mar 31, 2019 | 14.7% | +5.4 |
| Q4 FY2018 | Dec 31, 2018 | 10.5% | +7.9 |
| Q3 FY2018 | Sep 30, 2018 | 11.7% | +2.4 |
| Q2 FY2018 | Jun 30, 2018 | 8.0% | +0.1 |
| Q1 FY2018 | Mar 31, 2018 | 9.3% | +1.4 |
| Q4 FY2017 | Dec 31, 2017 | 2.5% | −7.9 |
| Q3 FY2017 | Sep 30, 2017 | 9.3% | −2.4 |
| Q2 FY2017 | Jun 30, 2017 | 7.9% | – |
| Q1 FY2017 | Mar 31, 2017 | 7.8% | – |
| Q4 FY2016 | Dec 31, 2016 | 10.5% | – |
| Q3 FY2016 | Sep 30, 2016 | 11.7% | – |