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Energy Transfer ET All Other — Equity in earnings of unconsolidated affiliates

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Other financials

Income statement

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Revenue$34.3B+78.4%
Gross profit$7.4B+39.7%
Operating income$3.6B+54.8%
Net income$2.1B+79.5%
EPS (diluted)$0.59+84.4%

Balance sheet

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Cash & equivalents$1.0B+321%
Total debt$70.2B+14.1%
Total assets$148.17B+18.5%

Cash flow

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Operating cash flow$4.3B+54.6%
CapEx$1.6B-5.7%
Free cash flow$2.7B+145%

Valuation

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Market cap$69.31B+17.7%
Enterprise value$138.53B+15.2%
P/E13.1×+0.7×
P/S0.7×-0.1×

Profitability

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Gross margin23.6%-2.8pp
Operating margin10%-1.4pp
Net margin4.9%-1.0pp
FCF margin5.1%-2.0pp

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:IncomeLossFromEquityMethodInvestments.

The source filing: Energy Transfer’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 4:40 PM EST
Fiscal year
FY2025
Accession
0001276187-26-000013

| Equity in earnings of unconsolidated affiliates (1) : | | | | | Intrastate transportation and storage | $18 | $16 | $17 | | Interstate transportation and storage | 280 | 241 | 260 | | Midstream | 15 | 13 | 15 | | NGL and refined products transportation and services | 77 | 83 | 76 | | Crude oil transportation and services | 23 | 21 | 11 | | Investment in Sunoco LP | 2 | — | — | | All other | 4 | 5 | 4 | | Total equity in earnings of unconsolidated affiliates | $419 | $379 | $383 |

ITEM 16. FORM 10-K SUMMARY

FAQ

What is Energy Transfer's all other — equity in earnings of unconsolidated affiliates?
Energy Transfer (ET) reported all other — equity in earnings of unconsolidated affiliates of $1M in Q4 2025.
How has Energy Transfer's all other — equity in earnings of unconsolidated affiliates changed year-over-year?
Energy Transfer's all other — equity in earnings of unconsolidated affiliates decreased by 20.0% year-over-year, from $1.25M to $1M.
What is the long-term trend for Energy Transfer's all other — equity in earnings of unconsolidated affiliates?
Over 4 years (2021 to 2025), Energy Transfer's all other — equity in earnings of unconsolidated affiliates has grown at a 41.4% compound annual growth rate (CAGR), from $1M to $4M.
What does all other — equity in earnings of unconsolidated affiliates mean?
This represents the company's proportionate share of the net income or loss from business entities in the 'Other Segments' category where the company holds a significant influence but not a controlling interest. It reflects the financial performance of joint ventures or partnerships that are not consolidated into the company's primary financial statements. This metric is used to evaluate the success of strategic partnerships and minority investments.

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