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Discontinued — last reported Q2 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

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$951.0M+110%
Total debt$70.0B+13.7%
Total assets$148.17B+18.5%

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$70.06B+14.8%
P/E13.3×+0.4×
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 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.

The source filing: Energy Transfer’s 8-K, filed August 4, 2026. Open the filing →

Filed
Aug 4, 2026, 7:43 AM EDT
Accession
0001276187-26-000033

FAQ

What is Energy Transfer's net debt?
Energy Transfer (ET) reported net debt of $70.01B in Q2 2026.
How has Energy Transfer's net debt changed year-over-year?
Energy Transfer's net debt increased by 14.2% year-over-year, from $61.33B to $70.01B.
What is the long-term trend for Energy Transfer's net debt?
Over 5 years (2020 to 2025), Energy Transfer's net debt has grown at a 5.8% compound annual growth rate (CAGR), from $51.97B to $68.93B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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