Energy Transfer LP (ET) Financial Statements
Industry: Natural Gas Transmission
In fiscal 2025, Energy Transfer reported revenue of $85.54B, up 3.5% from $82.67B the year before. Net income was $4.43B (a 5.2% net margin). Gross margin was 25.8% and operating margin was 10.6%. Operating activities generated $10.15B of cash, leaving $3.85B of free cash flow. At fiscal year end, Energy Transfer held $141.29B in total assets against $92.28B in total liabilities, including $1.27B of cash and equivalents.
Open the full interactive Energy Transfer financials → Quarterly statements, key ratios, valuation history and price charts.
Energy Transfer Key Stats
| Share Price | $20.48 |
|---|---|
| Revenue YoY Growth | +3.5% |
| 52-Week Range | $15.30 – $21.49 |
Energy Transfer Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $38.95B | $67.42B | $89.88B | $78.59B | $82.67B | $85.54B |
| Cost of Goods Sold | $25.49B | $50.40B | $72.23B | $60.54B | $61.98B | $63.49B |
| Gross Profit | $13.47B | $17.02B | $17.64B | $18.05B | $20.70B | $22.04B |
| Operating Income | $2.98B | $8.79B | $7.74B | $8.29B | $9.14B | $9.03B |
| Pre-Tax Income | $377.0M | $6.87B | $4.96B | $4.24B | $5.36B | $4.78B |
| Income Tax | $237.0M | $184.0M | $204.0M | $303.0M | $541.0M | $350.0M |
| Net Income | -$648.0M | $5.47B | $4.76B | $3.94B | $4.81B | $4.43B |
Energy Transfer Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $19.95B | $25.32B | $27.77B | $34.33B |
| Net Income | $1.02B | $928.0M | $1.25B | $2.09B |
Energy Transfer Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $367.0M | $336.0M | $257.0M | $161.0M | $312.0M | $1.27B |
| Current Assets | $6.32B | $10.54B | $12.08B | $12.43B | $14.20B | $18.23B |
| Total Assets | $95.14B | $105.96B | $105.64B | $113.70B | $125.38B | $141.29B |
| Current Liabilities | $5.92B | $10.84B | $10.37B | $11.28B | $12.66B | $14.96B |
| Total Long-Term Debt | $51.44B | $49.70B | $48.26B | $52.39B | $59.76B | $68.33B |
| Total Liabilities | $63.76B | $66.62B | $64.98B | $69.76B | $79.36B | $92.28B |
| Shareholders' Equity | $31.39B | $39.34B | $40.66B | $43.94B | $46.02B | $49.01B |
Energy Transfer Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $7.36B | $11.16B | $9.05B | $9.55B | $11.51B | $10.15B |
| Cash From Investing | -$4.90B | -$2.77B | -$4.02B | -$4.33B | -$5.90B | -$8.37B |
| Cash From Financing | -$2.39B | -$8.42B | -$5.11B | -$5.33B | -$5.45B | -$816.0M |
| Free Cash Flow | $2.23B | $8.34B | $5.67B | $6.42B | $7.34B | $3.85B |
Figures from Energy Transfer's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Energy Transfer financials page for every line item.
Energy Transfer Company Profile
| Ticker | ET |
|---|---|
| Exchange | NYSE |
| Industry | Natural Gas Transmission |
| Headquarters | Dallas, Texas |
| Incorporated in | Oklahoma |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001276187 |
Frequently Asked Questions
What was Energy Transfer's revenue in fiscal 2025?
Energy Transfer (ET) reported revenue of $85.54B for fiscal 2025.
What is Energy Transfer's annual revenue history?
Energy Transfer's annual revenue by fiscal year: 2020: $38.95B; 2021: $67.42B; 2022: $89.88B; 2023: $78.59B; 2024: $82.67B; 2025: $85.54B.
What was Energy Transfer's net income in fiscal 2025?
Energy Transfer reported net income of $4.43B for fiscal 2025.
How much free cash flow did Energy Transfer generate in fiscal 2025?
Energy Transfer generated $3.85B of free cash flow in fiscal 2025.
What was Energy Transfer's revenue last quarter?
In its most recent reported quarter (2026 Q2), Energy Transfer reported revenue of $34.33B.
How much debt does Energy Transfer have?
Energy Transfer reported $68.33B of long-term debt, including the current portion, at the end of fiscal 2025.
When does Energy Transfer's fiscal year end?
Energy Transfer's fiscal year end, as registered with the SEC, is December 31.
Where is Energy Transfer headquartered?
Energy Transfer lists its business address in Dallas, Texas in its SEC filings.