What is Sunoco's pipeline systems — goodwill?

Sunoco (SUN) reported pipeline systems — goodwill of $38M in Q4 2025.

What does pipeline systems — goodwill mean?

Represents the intangible asset value recorded when the Pipeline Systems segment acquires another business for a price exceeding the fair market value of its net identifiable assets. This reflects the premium paid for synergies, brand reputation, and market positioning within the midstream energy infrastructure sector.

Sunoco (SUN) Pipeline Systems — Goodwill

Screener

Other segment segments

Fuel Distribution

$2.33B+87.5%

Refinery

$426M—

Terminals

$237M0.0%

Similar metrics at other companies

DTMPipeline — Goodwill

$361M+1.4%

FORMSystems — Goodwill

$38.04M+70.4%

ENBLiquids Pipelines — Goodwill

$8.64B-4.2%

DYBuilding Systems — Goodwill

$1.12B—

HPQPersonal Systems — Goodwill

$4.72B-0.5%

TRMBField Systems — Goodwill

$975M+0.7%

Other financials

Income statement

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Revenue$14.3B+165%

Gross profit$1.5B+157%

Operating income$583.0M+187%

Net income$283.0M+229%

EPS (diluted)$0.94+185%

Balance sheet

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Cash & equivalents$773.0M+566%

Total debt$15.4B+82.1%

Total assets$29.9B+107%

Cash flow

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Operating cash flow$1.1B+353%

CapEx$173.0M+8.1%

Free cash flow$928.0M+1,018%

Valuation

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Market cap$13.82B+91.7%

Enterprise value$28.49B+83.0%

P/E11.9×-4.6×

P/S0.4×0.0×

Profitability

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Gross margin11.9%+1.4pp

Operating margin4.8%+0.9pp

Net margin2.9%+0.9pp

FCF margin4.2%—

Returns & leverage

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Current ratio1.3×-0.2×

Where this comes from

Reported directly by Sunoco in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Sunoco’s 10-K, filed February 19, 2026.

Filed: Feb 19, 2026, 4:26 PM EST
Fiscal year: FY2025
Accession: 0001552275-26-000021

Line item	Segment / Fuel Distribution	Segment / Pipeline Systems	Segment / Terminals	Segment / Refinery	Consolidated
Balance at December 31, 2023	$1,362	—	$237	—	$1,599
West Texas Sale	(138)	—	—	—	(138)
NuStar Acquisition	16	—	—	—	16
Balance at December 31, 2024	1,240	—	237	—	1,477
Parkland Acquisition	1,070	38	—	420	1,528
Other	15	—	—	6	21
Balance at December 31, 2025	$2,325	$38	$237	$426	$3,026

Item 16. Form 10-K Summary

FAQ

What is Sunoco's pipeline systems — goodwill?: Sunoco (SUN) reported pipeline systems — goodwill of $38M in Q4 2025.
What does pipeline systems — goodwill mean?: Represents the intangible asset value recorded when the Pipeline Systems segment acquires another business for a price exceeding the fair market value of its net identifiable assets. This reflects the premium paid for synergies, brand reputation, and market positioning within the midstream energy infrastructure sector.