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Energy Transfer ET Net debt / EBITDA

Net debt / EBITDA at other companies

Williams Companies logo
Williams CompaniesWMB
4.8×+1.1×
Oneok logo
OneokOKE
4.3×-0.3×
Enterprise Products Partners logo
Enterprise Products PartnersEPD
4.5×+0.2×
Enbridge logo
EnbridgeENB
-0×-6.0×
EQT Corporation logo
EQT CorporationEQT
0.8×-1.7×
Cheniere Energy Partners logo
Cheniere Energy PartnersCQP
3.5×-0.2×

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 the most recent quarter.

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 net debt / EBITDA?
Energy Transfer (ET) reported net debt / EBITDA of 4.6× in Q1 2026.
How has Energy Transfer's net debt / EBITDA changed year-over-year?
Energy Transfer's net debt / EBITDA increased by 9.9% year-over-year, from 4.1× to 4.6×.
What is the long-term trend for Energy Transfer's net debt / EBITDA?
Over 4 years (2021 to 2025), Energy Transfer's net debt / EBITDA has grown at a 0.9% compound annual growth rate (CAGR), from 16.5× to 17.1×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.