What is NGL Energy Partners's price / book?

NGL Energy Partners (NGL) reported price / book of 10.5× in Q4 2025.

How has NGL Energy Partners's price / book changed year-over-year?

NGL Energy Partners's price / book increased by 159.7% year-over-year, from 4.1× to 10.5×.

What is the long-term trend for NGL Energy Partners's price / book?

Over 4 years (2021 to 2025), NGL Energy Partners's price / book has grown at a 95.9% compound annual growth rate (CAGR), from 0.3× to 4.1×.

What does price / book mean?

Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.

NGL Energy Partners NGL Price / book

Price / book at other companies

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2.7×+0.2×

Select Water SolutionsWTTR

1.9×+0.5×

Delek US HoldingsDK

8.9×+6.8×

OneokOKE

2.5×-0.4×

TRG

Targa ResourcesTRGP

17.2×-0.6×

MTD

Matador ResourcesMTDR

1.4×+0.2×

Other financials

Income statement

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Revenue$949.5M-2.2%

Gross profit$217.3M-17.0%

Operating income$109.7M+29.5%

Net income-$287.7M-2,196%

EPS (diluted)-$0.54—

Balance sheet

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Cash & equivalents$8.5M+50.6%

Total debt$3.4B+8.9%

Total equity$119.5M-26.5%

Total assets$4.2B-9.4%

Cash flow

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Operating cash flow$110.0M-29.0%

CapEx$31.6M-16.4%

Free cash flow$78.4M-33.1%

Valuation

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Market cap$2.05B+155%

Enterprise value$5.4B+32.6%

P/S0.7×+0.4×

Profitability

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Gross margin30.9%+3.1pp

Operating margin12%—

Net margin-4.5%-5.6pp

FCF margin4.6%+3.1pp

Returns & leverage

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Return on equity112.8%+89.0pp

Debt / equity25.6×+5.9×

Current ratio1×-0.3×

Where this comes from

Calculated from NGL Energy Partners’s reported figures.

market cap/total stockholders equity=10.5×

Based on the most recent quarter.

The official record: NGL Energy Partners’s 10-Q, filed February 3, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NGL Energy Partners's price / book?: NGL Energy Partners (NGL) reported price / book of 10.5× in Q4 2025.
How has NGL Energy Partners's price / book changed year-over-year?: NGL Energy Partners's price / book increased by 159.7% year-over-year, from 4.1× to 10.5×.
What is the long-term trend for NGL Energy Partners's price / book?: Over 4 years (2021 to 2025), NGL Energy Partners's price / book has grown at a 95.9% compound annual growth rate (CAGR), from 0.3× to 4.1×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.