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Energy Transfer ET Operating margin

Operating margin at other companies

Williams Companies logo
Williams CompaniesWMB
34.3%-0.2pp
Oneok logo
OneokOKE
16.9%-3.7pp
Enterprise Products Partners logo
Enterprise Products PartnersEPD
14.4%+1.6pp
Enbridge logo
EnbridgeENB
15.2%-2.2pp
EQT Corporation logo
EQT CorporationEQT
46.6%+28.7pp
Cheniere Energy Partners logo
Cheniere Energy PartnersCQP
28.5%-5.9pp

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
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 operating margin?
Energy Transfer (ET) reported operating margin of 10.3% in Q1 2026.
How has Energy Transfer's operating margin changed year-over-year?
Energy Transfer's operating margin decreased by 8.5% year-over-year, from 11.3% to 10.3%.
What is the long-term trend for Energy Transfer's operating margin?
Over 4 years (2021 to 2025), Energy Transfer's operating margin has grown at a -5.8% compound annual growth rate (CAGR), from 57.1% to 44.9%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.