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Energy Transfer ET Midstream — Total revenues

Other segment segments

Investment in Sunoco LP
$10.69B+106%
Crude oil transportation and services
$7.76B+25.0%
NGL and refined products transportation and services
$6.67B-3.4%
Intrastate transportation and storage
$1.16B-10.7%
Interstate transportation and storage
$634M+2.1%
Investment In USAC
$331M+35.1%

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DINOMidstream — Sales and other revenues (Note 3)
$166M+6.4%
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PSXMidstream — Revenues And Other Income
$5.65B+0.1%

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$65.18B+6.4%
Enterprise value$135.33B+11.5%
P/E14.9×+2.4×
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:Revenues.

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 — total revenues?
Energy Transfer (ET) reported midstream — total revenues of $3.04B in Q1 2026.
How has Energy Transfer's midstream — total revenues changed year-over-year?
Energy Transfer's midstream — total revenues decreased by 16.7% year-over-year, from $3.66B to $3.04B.
What is the long-term trend for Energy Transfer's midstream — total revenues?
Over 4 years (2021 to 2025), Energy Transfer's midstream — total revenues has grown at a 2.5% compound annual growth rate (CAGR), from $11.32B to $12.5B.
What does midstream — total revenues mean?
This metric represents the total gross revenue generated by the midstream business segment, primarily from the gathering, processing, transportation, and storage of crude oil, natural gas, and natural gas liquids. It reflects the scale of operations and market demand for the company's midstream infrastructure services.