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Sunoco SUN Pipeline Systems — Operating expenses, excluding non-cash compensation

Similar metrics at other companies

Energy Transfer logo
ETInvestment in Sunoco LP — Total operating expenses, excluding non-cash compensation, amortization, accretion and other non-cash expenses
$381M+141%
Atmos Energy logo
ATOPipelineand Storage — Operating Expenses
$54.57M+17.8%
Energy Transfer logo
ETInterstate transportation and storage — Total operating expenses, excluding non-cash compensation, amortization, accretion and other non-cash expenses
$215M+13.8%
Energy Transfer logo
ETMidstream — Total operating expenses, excluding non-cash compensation, amortization, accretion and other non-cash expenses
$446M+5.9%
Atmos Energy logo
ATORegulated Pipeline — Operating Expenses
$68.21M+7.3%
Energy Transfer logo
ETCorporate Segment and Other Operating Segment — Operating expenses, excluding non-cash compensation, amortization, accretion and other non-cash expenses:
$8M+60.0%

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

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Cash & equivalents$718.0M+317%
Total debt$16.0B+91.4%
Total assets$30.3B+111%

Cash flow

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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

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Gross margin12.5%+2.3pp
Operating margin4.9%+1.4pp
Net margin3.1%-0.6pp
FCF margin2.7%

Returns & leverage

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Current ratio1.4×-0.2×

Where this comes from

Reported directly by Sunoco in its filing.

Tagged under the XBRL concept sun:OperatingExpensesExcludingNonCashCompensation.

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 — operating expenses, excluding non-cash compensation?
Sunoco (SUN) reported pipeline systems — operating expenses, excluding non-cash compensation of $49M in Q4 2025.
How has Sunoco's pipeline systems — operating expenses, excluding non-cash compensation changed year-over-year?
Sunoco's pipeline systems — operating expenses, excluding non-cash compensation increased by 44.1% year-over-year, from $34M to $49M.
What does pipeline systems — operating expenses, excluding non-cash compensation mean?
The cash operating costs incurred to run the pipeline systems, excluding non-cash expenses.
How do you interpret pipeline systems — operating expenses, excluding non-cash compensation?
A decrease relative to revenue indicates improved operational efficiency and better cost management.
How does pipeline systems — operating expenses, excluding non-cash compensation compare across companies?
Standard operating expense metric used across midstream energy peers to assess cash-flow margins.