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Energy Transfer LP USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Oil

Geography: United States

COMM_ET

Price chart

19.07 USDDay 1.65%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
19.07 USD · 1.65%
Market cap
65.8 bn USD

Growth

Δ revenue y/y
32.1%
Δ EBITDA y/y
18.4%

Multiples

P/E (LTM)
15.1x
3y avg: 13.0x
P/B (FY)
1.3x
P/E (ann.)
13.1x
EV/EBITDA (LTM)
8.7x
3y avg: 8.4x
EV/EBITDA (ann.)
7.4x

Cash return

Dividend yield
7.0%
FCF yield (LTM)
8.4%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)
+19.0%
↓ details

Liquidity

Daily turnover (listing)
157.6 mln USD

Shares: yahoo_fundamentals_timeseries/ET

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 2 / Warn: 13 / Err: 0 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1⚠Warn 1
2023-06-30 Q2⚠Warn 2
2023-09-30 Q3⚠Warn 1
2023-12-31 FY⚠Warn 1
2023-12-31 Q4✓OK
2024-03-31 Q1⚠Warn 1
2024-06-30 Q2⚠Warn 3
2024-09-30 Q3⚠Warn 1
2024-12-31 FY⚠Warn 1
2024-12-31 Q4✓OK
2025-03-31 Q1⚠Warn 1
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY⚠Warn 1
2026-03-31 Q1⚠Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK27.8
y/y 32.1%
3.0
y/y 19.8%
1.6
y/y 15.8%
4.6
y/y 18.4%
1.3
y/y -5.2%
3.4-1.9147.5
y/y 16.7%
49.7
y/y 7.7%
10.2%68.6Link
2025-12-31Q4 2025 (3M)OK25.3
y/y 29.6%
2.1
y/y -8.9%
1.5
y/y 8.5%
3.6
y/y -2.4%
0.9
y/y -13.8%
1.9-2.1141.3
y/y 12.7%
49.0
y/y 6.5%
9.4%67.3Link
2025-09-30Q3 2025 (3M)OK20.0
y/y -3.9%
2.2
y/y -1.4%
1.4
y/y 8.8%
3.6
y/y 2.5%
1.0
y/y -13.9%
2.6-1.3129.3
y/y 3.9%
45.3
y/y -1.8%
3.0%59.6Link
2025-06-30Q2 2025 (3M)OK19.2
y/y -7.2%
2.3
y/y 0.5%
1.4
y/y 14.1%
3.7
y/y 5.2%
1.2
y/y -11.5%
2.8-1.7125.0
y/y 3.0%
45.5
y/y 0.1%
10.1%60.6Link
2025-03-31Q1 2025 (3M)OK21.0
y/y -2.8%
2.5
y/y 4.7%
1.4
y/y 9.0%
3.9
y/y 6.2%
1.3
y/y 6.7%
2.9-1.2126.4
y/y 9.2%
46.2
y/y 5.4%
11.5%59.4Link
2024-12-31Q4 2024 (3M)OK19.5
y/y -4.8%
2.3
y/y 5.3%
1.4
y/y 18.7%
3.7
y/y 9.9%
1.1
y/y -18.8%
2.6-1.5125.4
y/y 10.3%
46.0
y/y 4.7%
10.4%59.5Link
2024-09-30Q3 2024 (3M)OK20.8
y/y 0.2%
2.2
y/y -2.3%
1.3
y/y 19.6%
3.5
y/y 4.9%
1.2
y/y 102.6%
2.9-1.1124.4
y/y 15.7%
46.2
y/y 13.9%
3.4%59.0Link
2024-06-30Q2 2024 (3M)OK20.7
y/y 13.1%
2.3
y/y 25.2%
1.2
y/y 14.3%
3.5
y/y 21.2%
1.3
y/y 44.2%
2.3-0.8121.3
y/y 15.4%
45.5
y/y 11.0%
11.8%57.0Link
2024-03-31Q1 2024 (3M)OK21.6
y/y 13.9%
2.4
y/y 15.4%
1.3
y/y 18.4%
3.6
y/y 16.4%
1.2
y/y 11.4%
3.8-0.8115.8
y/y 10.8%
43.8
y/y 7.7%
11.3%51.6Link
2023-12-31Q4 2023 (3M)OK20.5
y/y —
2.2
y/y —
1.2
y/y —
3.3
y/y —
1.3
y/y —
1.3-0.7113.7
y/y —
43.9
y/y —
9.3%52.3Link
2023-09-30Q3 2023 (3M)OK20.7
y/y —
2.2
y/y —
1.1
y/y —
3.3
y/y —
0.6
y/y —
2.4-0.7107.6
y/y —
40.6
y/y —
1.9%47.6Link
2023-06-30Q2 2023 (3M)OK18.3
y/y —
1.8
y/y —
1.1
y/y —
2.9
y/y —
0.9
y/y —
2.5-0.9105.1
y/y —
41.0
y/y —
8.9%47.8Link
2023-03-31Q1 2023 (3M)OK19.0
y/y —
2.1
y/y —
1.1
y/y —
3.1
y/y —
1.1
y/y —
3.4-0.9104.5
y/y —
40.7
y/y —
—46.9Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-10%0%10%20%30%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-3 000-2 000-1 00001 0002 0003 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

020 00040 00060 00080 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Liquified Natural Gas

Current 14spot vs LTM +27%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +19.0%

Main driver: Liquified Natural Gas +27% vs LTM; revenue ×1.15 vs costs ×1.04; EBITDA 15 417→22 071; at 6.3× EV/EBITDA → +19%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Liquified Natural Gas (rev)+29%14.0411.0912.39+27%+12%
Brent (rev)+23%92.6069.0980.25+34%+16%
Henry Hub Gas (rev)+14%3.153.533.09-11%-12%
Propane (Texas, USD/gallon) (rev)+7%0.800.690.76+15%+10%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue92 287
LTM EBITDA15 417
LTM cash costs (revenue − EBITDA)76 870
2 · Revenue projection
Revenue multiplier — spot×1.150 (+15%)
= Spot revenue106 139
Revenue multiplier — 3y price×1.061 (+6%)
= 3-year-price revenue97 893
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs79 945
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs79 945
4 · EBITDA projection (revenue − costs)
= Spot EBITDA26 194
= 3-year-price EBITDA17 948
Conservative EBITDA = min(spot, avg)22 071
5 · Valuation → target market cap
Historical EV/projected-EBITDA (3-yr average)6.3x
Target EV = EV/EBITDA × conservative EBITDA138 483
Net debt68 586
Target market cap = EV − net debt69 897
Current market cap58 748

Upside = target market cap ÷ current − 1 = +19.0%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q218 32014 933+22.7%2 896-4 895—
2023 Q320 73915 448+34.2%3 340-2 495—
2023 Q420 53218 124+13.3%3 261831+292.6%
2024 Q121 62917 425+24.1%3 634519+599.6%
2024 Q220 72919 376+7.0%3 5111 927+82.2%
2024 Q320 77220 488+1.4%3 5052 579+35.9%
2024 Q419 54121 856-10.6%3 5703 980-10.3%
2025 Q121 02022 535-6.7%3 8584 995-22.8%
2025 Q219 24220 138-4.4%3 6932 811+31.4%
2025 Q319 95419 109+4.4%3 5912 208+62.6%
2025 Q425 32018 874+34.2%3 5672 204+61.8%
2026 Q127 77121 794+27.4%4 5663 645+25.3%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 7.2x · target 3-yr avg 6.3x · LTM avg 8.0x

EV/EBITDA (LTM)EV/EBITDA (projected)target avg (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-080.338 USDEx-dividend: 0.338 USD per sharePaidYahoo Finance (ex-div)
2026-02-060.335 USDEx-dividend: 0.335 USD per sharePaidYahoo Finance (ex-div)
2025-11-070.333 USDEx-dividend: 0.333 USD per sharePaidYahoo Finance (ex-div)
2025-08-080.33 USDEx-dividend: 0.33 USD per sharePaidYahoo Finance (ex-div)
2025-05-090.328 USDEx-dividend: 0.328 USD per sharePaidYahoo Finance (ex-div)
2025-02-070.325 USDEx-dividend: 0.325 USD per sharePaidYahoo Finance (ex-div)
2024-11-080.323 USDEx-dividend: 0.323 USD per sharePaidYahoo Finance (ex-div)
2024-08-090.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2024-05-100.318 USDEx-dividend: 0.318 USD per sharePaidYahoo Finance (ex-div)
2024-02-060.315 USDEx-dividend: 0.315 USD per sharePaidYahoo Finance (ex-div)
2023-10-270.313 USDEx-dividend: 0.313 USD per sharePaidYahoo Finance (ex-div)
2023-08-110.31 USDEx-dividend: 0.31 USD per sharePaidYahoo Finance (ex-div)
2023-05-050.308 USDEx-dividend: 0.308 USD per sharePaidYahoo Finance (ex-div)
2023-02-060.305 USDEx-dividend: 0.305 USD per sharePaidYahoo Finance (ex-div)
2022-11-030.265 USDEx-dividend: 0.265 USD per sharePaidYahoo Finance (ex-div)
2022-08-050.23 USDEx-dividend: 0.23 USD per sharePaidYahoo Finance (ex-div)
2022-05-060.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2022-02-070.175 USDEx-dividend: 0.175 USD per sharePaidYahoo Finance (ex-div)
2021-11-040.153 USDEx-dividend: 0.153 USD per sharePaidYahoo Finance (ex-div)
2021-08-050.153 USDEx-dividend: 0.153 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)