Energy Transfer ET Midstream — Investments in unconsolidated affiliates

Other segment segments

Interstate transportation and storage

$2.39B+1.5%

NGL and refined products transportation and services

$379M+0.3%

Investment in Sunoco LP

$345M—

Crude oil transportation and services

$189M-1.0%

Intrastate transportation and storage

$152M+1.3%

All other

$61M—

Similar metrics at other companies

PSXMidstream — Investments In and Advances to Affiliates

$2.1B-7.3%

MTD

MTDRMidstream — Capital expenditures attributable to non-controlling interest

$5.2M-83.1%

OXYMidstream and marketing — Investments in unconsolidated entities

$2.2B-11.9%

MPCMidstream — Capital Expenditures And Investments

$892M+131%

PSXMidstream — Capital Expenditures and Investments

$343M+58.8%

MPCMidstream — Equity Method Investments

$5.54B+4.6%

Other financials

Income statement

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Revenue$27.8B+32.1%

Gross profit$6.6B+21.5%

Operating income$3.0B+19.8%

Net income$1.3B-5.2%

EPS (diluted)$0.35-2.8%

Balance sheet

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Cash & equivalents$951.0M+110%

Total debt$71.1B+17.3%

Total assets$147.48B+16.7%

Cash flow

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Operating cash flow$3.4B+15.8%

CapEx$1.9B+56.5%

Free cash flow$1.5B-13.6%

Valuation

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Market cap$66B+7.7%

Enterprise value$136.16B+12.1%

P/E15.1×+2.6×

P/S0.7×0.0×

Profitability

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Gross margin25.2%-0.6pp

Operating margin10.3%-1.0pp

Net margin4.7%-1.2pp

FCF margin4.2%-3.2pp

Returns & leverage

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Current ratio1.2×0.0×

Where this comes from

Reported directly by Energy Transfer in its filing.

Tagged under the XBRL concept us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures.

The official record: Energy Transfer’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Energy Transfer's midstream — investments in unconsolidated affiliates?: Energy Transfer (ET) reported midstream — investments in unconsolidated affiliates of $132M in Q1 2026.
How has Energy Transfer's midstream — investments in unconsolidated affiliates changed year-over-year?: Energy Transfer's midstream — investments in unconsolidated affiliates increased by 1.5% year-over-year, from $130M to $132M.
What does midstream — investments in unconsolidated affiliates mean?: This metric tracks the total capital invested by the midstream segment into joint ventures and partnerships that are not consolidated. It reflects the company's strategy of utilizing partnerships to share risk and capital requirements for large-scale projects.