What are Energy Transfer's profit margins?

Energy Transfer (ET) runs a 25.2% gross margin and a 10.3% operating margin, with a 4.7% net margin.

Where do Energy Transfer's ratios come from?

Every ratio is computed from Energy Transfer's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Energy Transfer ET Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	104.3%+6.2pp	104.9%+9.5pp	104.2%+10.8pp	101.2%+9.2pp	98.2%+8.0pp
Operating margin	43.9%0.0pp	44.9%+1.6pp	45.4%+2.6pp	44.6%+2.5pp	44%+3.2pp
Net margin	21.5%-1.6pp	22.8%+0.6pp	23.4%+2.0pp	23.7%+3.6pp	23.2%+3.2pp
EBITDA margin	70.7%+2.5pp	71.7%+4.9pp	71.8%+6.2pp	70%+5.5pp	68.2%+5.6pp
Free cash flow margin	22.5%-9.9pp	25.7%-7.8pp	29.8%-3.0pp	31.5%-1.2pp	32.4%-0.4pp
Returns
Return on assets	14%-2.4pp	14.8%-1.2pp	15.5%0.0pp	16.3%+1.5pp	16.4%+1.7pp
Efficiency
Asset turnover	2.6×-0.2×	2.6×-0.3×	2.7×-0.3×	2.7×-0.2×	2.8×-0.1×
Inventory turnover	76.8×-20.8×	82.4×-20.1×	88.5×-16.1×	93.3×-10.3×	97.6×-8.0×
Liquidity
Current ratio	4.9×+0.5×	4.9×+0.4×	4.8×+0.3×	4.5×0.0×	4.5×+0.3×
Quick ratio	3.9×+0.3×	3.9×+0.2×	3.9×+0.2×	3.6×-0.1×	3.6×+0.2×
Cash ratio	0.4×+0.3×	0.4×+0.2×	0.4×+0.1×	0.1×-0.2×	0.1×-0.1×
Leverage
Debt-to-assets	2×0.0×	2×0.0×	2×0.0×	1.9×+0.1×	1.9×+0.1×
Net debt / EBITDA	17.5×+0.7×	17.1×+0.4×	16.6×0.0×	16.8×+0.5×	16.8×+0.6×
Interest coverage	10.8×-1.3×	11×-1.3×	11.3×-1.3×	11.6×-1.2×	12×-0.7×
Valuation
Market capitalization	$242.63B+1.3%	$240.02B+5.6%	$250.47B+21.9%	$245.67B+25.6%	$239.6B+32.5%
Enterprise value	$503.45B+5.4%	$490.83B+7.3%	$492.67B+15.0%	$487.23B+19.7%	$477.6B+24.6%
Price / earnings	53.6×+3.8×	51.4×+1.9×	52.6×+5.5×	50.4×+2.3×	49.9×+4.4×
Price / sales	2.9×0.0×	2.9×+0.2×	3.1×+0.6×	3×+0.6×	2.9×+0.6×
EV / EBITDA	33.8×0.0×	33.4×+0.4×	33.8×+1.9×	33.9×+2.5×	33.7×+3.1×
EV / sales	6×+0.2×	6×+0.5×	6.1×+0.8×	5.9×+0.9×	5.8×+1.0×
Free cash flow yield	31.2%-14.1pp	34.9%-14.3pp	38.6%-13.8pp	42.4%-11.6pp	45.3%-12.9pp
Earnings yield	30%-2.4pp	31.1%-1.5pp	30.5%-3.7pp	32%-1.2pp	32.4%-3.2pp

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Questions, answered.

What are Energy Transfer's profit margins?: Energy Transfer (ET) runs a 25.2% gross margin and a 10.3% operating margin, with a 4.7% net margin.
Where do Energy Transfer's ratios come from?: Every ratio is computed from Energy Transfer's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.