What is Energy Transfer's deferred taxes?

Energy Transfer (ET) reported deferred taxes of $5.31B in Q4 2025.

What does deferred taxes mean?

This represents the net amount of income taxes that will be payable in future periods due to temporary differences between the carrying amount of assets and liabilities for financial reporting and their tax bases. It reflects the long-term tax impact of accounting choices and depreciation schedules. Investors use this to understand future tax obligations and the impact of tax timing on cash flow.

Energy Transfer ET Deferred Taxes

Deferred Taxes at other companies

OneokOKE

$6.53B+16.8%

Enterprise Products PartnersEPD

$716M+7.3%

TRG

Targa ResourcesTRGP

$1.48B+64.0%

Kinetik HoldingsKNTK

$22.22M+24.5%

OGE EnergyOGE

——

Kinder MorganKMI

——

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%

EPS (diluted)$0.35-2.8%

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$65.79B+6.6%

Enterprise value$135.95B+10.5%

P/E15.1×+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

FCF margin4.2%-3.2pp

Returns & leverage

See full

Current ratio1.2×0.0×

Where this comes from

Reported directly by Energy Transfer in its filing.

Tagged under the XBRL concept us-gaap:DeferredIncomeTaxLiabilitiesNet.

The official record: Energy Transfer’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Energy Transfer's deferred taxes?: Energy Transfer (ET) reported deferred taxes of $5.31B in Q4 2025.
What does deferred taxes mean?: This represents the net amount of income taxes that will be payable in future periods due to temporary differences between the carrying amount of assets and liabilities for financial reporting and their tax bases. It reflects the long-term tax impact of accounting choices and depreciation schedules. Investors use this to understand future tax obligations and the impact of tax timing on cash flow.