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Energy Transfer ET Gross margin

Gross margin at other companies

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OneokOKE
29.6%-6.0pp
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EQT CorporationEQT
84.9%+16.1pp
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Cheniere Energy PartnersCQP
45.4%-8.7pp
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Atmos EnergyATO
75.1%+15.5pp
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Cheniere EnergyLNG
41.7%-14.8pp
CNP
CenterPoint EnergyCNP
100%0.0pp

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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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 gross margin?
Energy Transfer (ET) reported gross margin of 25.2% in Q1 2026.
How has Energy Transfer's gross margin changed year-over-year?
Energy Transfer's gross margin decreased by 2.2% year-over-year, from 25.7% to 25.2%.
What is the long-term trend for Energy Transfer's gross margin?
Over 4 years (2021 to 2025), Energy Transfer's gross margin has grown at a -3.6% compound annual growth rate (CAGR), from 121.5% to 104.9%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.