Skip to content
NGL Energy Partners logo

NGL Energy Partners

NGL

NGL Energy Partners LP is a Delaware master limited partnership that provides critical midstream infrastructure and services for the energy industry.

Market cap
$1.97B+252%
Revenue$3.2B-9.0%
Net income-$142.3M-461%
Free cash flow$144.7M+180%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 3 weeks)
Revenue estimate$346.1M
EPS estimate$0.11

Financials

Q4 2026

Income statement

See full
Revenue$949.5M-2.2%
Gross profit$217.3M-17.0%
Net income-$287.7M-2,196%

Balance sheet

See full
Cash & equivalents$8.5M+50.6%
Total debt$3.4B+8.9%
Total assets$4.2B-9.4%

Cash flow

See full
Operating cash flow$110.0M-29.0%
CapEx$31.6M-16.4%
Free cash flow$78.4M-33.1%

Valuation & ratios

Valuation

See full
Market cap$1.97B+252%
Enterprise value$5.32B+49.6%
P/S0.6×+0.5×

Profitability

See full
Gross margin30.9%+3.1pp
Net margin-4.5%-5.6pp
FCF margin4.6%+3.1pp

Returns & leverage

See full
Current ratio-0.3×

Segments

By product

See full
Crude oil sales$376.0M+119%
Disposal service fees$177.4M+3.2%
Propane$149.0M-57.2%
Butane sales$147.5M-8.4%
Other product sales$90.1M-12.5%

By segment

See full
Liquids Logistics$383.5M-36.7%
Crude Oil Logistics$346.9M+117%
Water Solutions$219.3M+6.9%

By geography

See full
Non-US$69.7M+96.3%

Competitors

Profile

NGL Energy Partners LP is a Delaware master limited partnership that provides critical midstream infrastructure and services for the energy industry. The company focuses on transporting, treating, and disposing of produced water for oil and gas producers, while also managing crude oil logistics and natural gas liquids supply chains. Its value proposition centers on providing stable, fee-based infrastructure solutions that minimize commodity price exposure through long-term contracts and acreage dedications.

Competitive position

NGL is the largest independent produced water transportation and disposal company in the United States, maintaining a dominant infrastructure footprint in the Delaware Basin.

GeographiesUnited States, Canada, Delaware Basin, DJ Basin, Eagle Ford Basin, Permian Basin
Customer segmentsUpstream E&P Companies, Refineries, Industrial Energy Consumers, Wholesale Energy Distributors
Business modelMaster Limited Partnership (MLP), Fee-based infrastructure, Logistics and Distribution
SuppliersCrude oil and natural gas producers, Refiners (for NGL supply), Railcar lessors, Pipeline manufacturers
CustomersRefineries, Petrochemical plants, Retail propane retailers, Industrial fuel users
Listed2011
Employees607.0
CEOH. Michael Krimbill
SectorEnergy
FilingsSEC EDGAR

Questions, answered.

What is NGL Energy Partners's market cap?
NGL Energy Partners (NGL) has a market capitalization of $2.0B and trades on NYSE.
What is NGL Energy Partners's revenue and profitability?
NGL Energy Partners generated $3.2B in trailing twelve-month revenue with a net loss of $142.3M, representing a net margin of -4.5%. Gross margin stands at 30.9%, with free cash flow of $144.7M. These figures are based on the Q1 2026 filing.
Who are NGL Energy Partners's competitors?
NGL Energy Partners's key competitors include Enterprise Products Partners L.P., Select Water Solutions, Energy Transfer LP, and others. These companies compete in similar markets and product categories.
Who does NGL Energy Partners partner with?
NGL Energy Partners's notable partners include Saddlehorn Pipeline Company, LLC, TC Energy, Shell, and others.
What subsidiaries does NGL Energy Partners have?
NGL Energy Partners's subsidiaries include NGL Water Solutions, LLC, NGL Crude Assets and Marketing, LLC, NGL Liquids, LLC, and others.
Where is NGL Energy Partners headquartered?
NGL Energy Partners is headquartered in United States of America and employs approximately 607 people. It has been publicly traded since 2011.