Income StatementBalance SheetCash FlowSegments
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Energy Transfer Cash Flow Statement

Operating, investing, and financing cash movements

Energy Transfer generated $10.6B in operating cash flow over the trailing twelve months. After $7.0B in capital expenditures, free cash flow was $3.8B. Free cash flow decreased 0.4% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$10.6BNet Cash From Investing (TTM)-$9.7BNet Cash From Financing (TTM)-$4.0BCapital Expenditures (TTM)$7.0BDepreciation And Amortization Cf (TTM)$5.9BNet Change In Cash (TTM)$3.3B
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$69.1B
P/E Ratio15.83

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Share of Profits (Losses) of Related Party$94.0M$92.0M$105.0M$116.0M$106.0M$110.0M
Other non-cash income (expense)-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Other working capital changes-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Deferred income taxes$111.0M-$16.0M$23.0M$61.0M$110.0M$93.0M
Depreciation and amortization$1.4B$1.4B$1.4B$1.4B$1.5B$1.6B
Equity in income of investees$94.0M$92.0M$105.0M$116.0M$106.0M$110.0M
Distributions from equity method investments$93.0M$77.0M$88.0M$71.0M$146.0M$39.0M
Impairment charges$2.0M$4.0M$3.0M$1.0M$277.0M$0.0
Other Non-Cash Income (Expense)-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Loss on extinguishment of debt-$1.0M-$2.0M-$17.0M-$12.0M-$3.0M-$7.0M
Other Non-cash Income (Expense)-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Income (Loss) from Equity Method Investments$94.0M$92.0M$105.0M$116.0M$106.0M$110.0M
Other Non-cash Income (Expense)-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Income (Loss) from Equity Method Investments$94.0M$92.0M$105.0M$116.0M$106.0M$110.0M
Income (Loss) from Equity Method Investments$94.0M$92.0M$105.0M$116.0M$106.0M$110.0M
Net cash from operating activities$2.6B$2.9B$2.8B$2.6B$1.9B$3.4B
Net income$1.4B$1.7B$1.5B$1.3B$1.2B$2.0B
Other non-cash income (expense)-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Asset write-downs$2.0M$4.0M$3.0M$1.0M$277.0M$0.0
Distributions On Unvested Unit Awards$19.0M$13.0M$13.0M$13.0M$13.0M$13.0M
Distributions of earnings from equity method investees$93.0M$77.0M$88.0M$71.0M$146.0M$39.0M
Equity in earnings (losses) of equity method investees$94.0M$92.0M$105.0M$116.0M$106.0M$110.0M
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital$386.0M$122.0M$175.0M$186.0M$1.5B-$216.0M
Inventory valuation adjustments$21.5M$39.0M$39.0M$39.0M$39.0M—
Charges (credits) associated with last-in, first-out inventory method—-$61.0M$40.0M-$10.0M—-$444.0M
Other Noncash Income (Expense)-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Other Non-cash Income and Expense-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Other Non-Cash Adjustments-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Other Non-Cash Income and Expense-$24.0M-$14.0M-$9.0M—-$20.0M$11.0M
Income (Loss) from Equity Method Investments$94.0M$92.0M$105.0M$116.0M$106.0M$110.0M
Stock-based compensation$38.0M$37.0M$33.0M$40.0M$38.0M$42.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired—$0.0$0.0$0.0$0.0—
Capital expenditures$1.5B$1.2B$1.7B$1.3B$2.1B$1.9B
Payments for Advance to Affiliate—$1.0M$3.0M$1.0M—$22.0M
Payment for (Proceeds from) Other Investing Activity—-$3.0M-$7.0M-$9.0M—-$35.0M
Contributions in aid of construction$16.0M$16.0M$10.0M$1.0M$73.0M$19.0M
Investments in unconsolidated affiliates$51.5M$2.5M$2.5M$2.5M$2.5M—
Net cash from investing activities-$1.5B-$1.2B-$1.7B-$1.5B-$3.9B-$2.5B
Other investing activities—-$3.0M-$7.0M-$9.0M—-$35.0M
Dividend Received from Consumer Healthcare JV$15.0M$20.0M$36.0M$21.0M—$39.0M
Net Payments for or Proceeds from Investments$51.5M$2.5M$2.5M$2.5M$2.5M—
Distributions from DIRECTV in Excess of Earnings$15.0M$20.0M$36.0M$21.0M—$39.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from contributions from affiliates$1.0M$2.0M$3.0M$22.0M$0.0$1.0M
Contributions from noncontrolling interests$1.0M$2.0M$3.0M$22.0M$0.0$1.0M
Proceeds from issuance of debt$7.6B$10.6B$5.6B$10.7B$6.0B$12.2B
Repayments of debt$7.1B$10.5B$4.6B$8.3B-$23.5B$11.6B
Distributions to noncontrolling interests$401.0M$455.0M$479.0M$376.0M$424.0M$545.0M
Dividends paid on preferred stock$16.0M$13.0M$21.0M$11.0M$11.0M$7.0M
Distribution Made to Limited Partner, Cash Distributions Paid$1.2B$1.1B$1.2B$1.2B$1.2B$1.2B
Payments Of Debt Issuance Costs$5.0M$51.0M$2.0M$58.0M$8.0M$48.0M
Payments of Ordinary Dividends, Preferred Stock and Preference Stock$16.0M$13.0M$21.0M$11.0M$11.0M$7.0M
Proceeds From Payments To Minority Shareholders$500.0K$0.0$0.0$0.0$0.0$2.0M
Net cash from financing activities-$1.1B-$1.6B-$1.3B—-$254.0M-$1.2B
Payment of debt issuance costs$5.0M$51.0M$2.0M$58.0M$8.0M$48.0M
Net Proceeds from (Repayments of) Other Long-Term Debt$7.4B$7.0B$7.0B$7.0B$7.0B—

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$1.1B$1.7B$1.1B$1.3B$0.0$1.5B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$13.0M$141.0M-$211.0M$3.3B—-$321.0M