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Energy Transfer ET Free cash flow margin

Free cash flow margin at other companies

Williams Companies logo
Williams CompaniesWMB
16%-13.4pp
Oneok logo
OneokOKE
6.4%-5.9pp
Enterprise Products Partners logo
Enterprise Products PartnersEPD
4.7%-1.9pp
Enbridge logo
EnbridgeENB
2.7%-5.9pp
EQT Corporation logo
EQT CorporationEQT
39.4%
Cheniere Energy Partners logo
Cheniere Energy PartnersCQP
25%-4.6pp

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%

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$64.52B+4.1%
Enterprise value$134.68B+10.2%
P/E14.8×+2.1×
P/S0.7×-0.1×

Profitability

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Gross margin25.2%-0.6pp
Operating margin10.3%-1.0pp
Net margin4.7%-1.2pp

Returns & leverage

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Current ratio1.2×0.0×

Where this comes from

Calculated from Energy Transfer’s reported figures.

Based on trailing twelve months.

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 free cash flow margin?
Energy Transfer (ET) reported free cash flow margin of 4.2% in Q1 2026.
How has Energy Transfer's free cash flow margin changed year-over-year?
Energy Transfer's free cash flow margin decreased by 43.6% year-over-year, from 7.4% to 4.2%.
What is the long-term trend for Energy Transfer's free cash flow margin?
Over 4 years (2021 to 2025), Energy Transfer's free cash flow margin has grown at a -17.6% compound annual growth rate (CAGR), from 55.7% to 25.7%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.