What is Sunoco's pipeline systems — goodwill?

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

What does pipeline systems — goodwill mean?

The total value of intangible assets recorded for the Pipeline Systems segment following business acquisitions.

How do you interpret pipeline systems — goodwill?

An increase suggests recent acquisitions at a premium, while a decrease may indicate impairment charges or write-downs.

How does pipeline systems — goodwill compare across companies?

Common in energy midstream companies that grow through inorganic expansion and asset consolidation.

Sunoco SUN Pipeline Systems — Goodwill

Other segment segments

Fuel Distribution

$2.33B+87.5%

Refinery

$426M—

Terminals

$237M0.0%

Similar metrics at other companies

MTZ

MTZPipeline Infrastructure — Goodwill

$642.6M+2.1%

ATORegulated Pipeline — Goodwill

$132.58M0.0%

ATOPipelineand Storage — Goodwill

$144.42M+0.9%

MTZ

MTZPipeline Infrastructure — Goodwill, net

$526.4M+1.4%

DTMPipeline — Goodwill

$361M+1.4%

MLIPiping Systems — Goodwill, Gross

$173.04M-7.0%

Other financials

Income statement

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Revenue$10.7B+106%

Gross profit$1.7B+159%

Operating income$866.0M+193%

Net income$644.0M+211%

EPS (diluted)$2.85+136%

Balance sheet

See full

Cash & equivalents$718.0M+317%

Total debt$16.0B+91.4%

Total assets$30.3B+111%

Cash flow

See full

Operating cash flow$454.0M+191%

CapEx$199.0M+97.0%

Free cash flow$255.0M+364%

Valuation

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Market cap$11.96B+54.8%

Enterprise value$27.2B+71.0%

P/E12.4×+3.2×

P/S0.4×0.0×

Profitability

See full

Gross margin12.5%+2.3pp

Operating margin4.9%+1.4pp

Net margin3.1%-0.6pp

FCF margin2.7%—

Returns & leverage

See full

Current ratio1.4×-0.2×

Where this comes from

Reported directly by Sunoco in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

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

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Questions, answered.

What is Sunoco's pipeline systems — goodwill?: Sunoco (SUN) reported pipeline systems — goodwill of $38M in Q4 2025.
What does pipeline systems — goodwill mean?: The total value of intangible assets recorded for the Pipeline Systems segment following business acquisitions.
How do you interpret pipeline systems — goodwill?: An increase suggests recent acquisitions at a premium, while a decrease may indicate impairment charges or write-downs.
How does pipeline systems — goodwill compare across companies?: Common in energy midstream companies that grow through inorganic expansion and asset consolidation.