# Energy Transfer LP: overview

ET · TXSE · CIK 1276187 · [Utilities](/sectors/utilities.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/et.md) · [Financials](/companies/et/financials.md) · [Filings](/companies/et/filings.md) · [Insiders](/companies/et/insiders.md)

Latest reported revenue: [$34.33bn](/filings/0001276187-26-000038.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:Revenues, accession 0001276187-26-000038).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [20.8](/filings/0001276187-25-000119.md) | [19.5 d](/filings/0001276187-26-000013.md) | [21.0](/filings/0001276187-26-000026.md) | [19.2](/filings/0001276187-26-000038.md) | [20.0](/filings/0001276187-25-000119.md) | [25.3 d](/filings/0001276187-26-000013.md) | [27.8](/filings/0001276187-26-000026.md) | [34.3](/filings/0001276187-26-000038.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [10.5%](/filings/0001276187-25-000119.md) | [11.7% d](/filings/0001276187-26-000013.md) | [11.9%](/filings/0001276187-26-000026.md) | [12.0%](/filings/0001276187-26-000038.md) | [10.8%](/filings/0001276187-25-000119.md) | [8.2% d](/filings/0001276187-26-000013.md) | [10.7%](/filings/0001276187-26-000026.md) | [10.4%](/filings/0001276187-26-000038.md) |
| Net margin | % | [5.7%](/filings/0001276187-25-000119.md) | [5.5% d](/filings/0001276187-26-000013.md) | [6.3%](/filings/0001276187-26-000026.md) | [6.0%](/filings/0001276187-26-000038.md) | [5.1%](/filings/0001276187-25-000119.md) | [3.7% d](/filings/0001276187-26-000013.md) | [4.5%](/filings/0001276187-26-000026.md) | [6.1%](/filings/0001276187-26-000038.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $bn | [1.8 d](/filings/0001276187-25-000119.md) | [1.1 d](/filings/0001276187-26-000013.md) | [1.7](/filings/0001276187-26-000026.md) | [1.1 d](/filings/0001276187-26-000038.md) | [1.3 d](/filings/0001276187-25-000119.md) | [(0.2) d](/filings/0001276187-26-000013.md) | [1.5](/filings/0001276187-26-000026.md) | [2.7 d](/filings/0001276187-26-000038.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [67.4](/filings/0001276187-24-000024.md) | [89.9](/filings/0001276187-25-000018.md) | [78.6](/filings/0001276187-26-000013.md) | [82.7](/filings/0001276187-26-000013.md) | [85.5](/filings/0001276187-26-000013.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [13.0%](/filings/0001276187-24-000024.md) | [8.6%](/filings/0001276187-25-000018.md) | [10.6%](/filings/0001276187-26-000013.md) | [11.1%](/filings/0001276187-26-000013.md) | [10.6%](/filings/0001276187-26-000013.md) |
| Net margin | % | [8.1%](/filings/0001276187-24-000024.md) | [5.3%](/filings/0001276187-25-000018.md) | [5.0%](/filings/0001276187-26-000013.md) | [5.8%](/filings/0001276187-26-000013.md) | [5.2%](/filings/0001276187-26-000013.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $bn | [8.3](/filings/0001276187-24-000024.md) | [5.7](/filings/0001276187-25-000018.md) | [6.4](/filings/0001276187-26-000013.md) | [7.3](/filings/0001276187-26-000013.md) | [3.8](/filings/0001276187-26-000013.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/et/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [ALPS ADVISORS INC](/funds/1376113.md) | 2026-06-30 | $1.66bn | 86,904,208 |  | Added +946,629 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $1.64bn | 85,614,431 |  | Reduced −1,615,983 |
| [JPMORGAN CHASE & CO](/funds/19617.md) | 2026-06-30 | $1.55bn | 81,080,493 |  | Added +8,869,502 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $1.20bn | 62,819,419 |  | Added +2,399,772 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $1.05bn | 54,927,735 |  | Reduced −1,163,743 |
| [TORTOISE CAPITAL ADVISORS, L.L.C.](/funds/1280965.md) | 2026-06-30 | $726.5m | 37,997,055 |  | Reduced −1,465,823 |
| [Blackstone Inc.](/funds/1393818.md) | 2026-06-30 | $684.2m | 35,782,842 |  | Added +4,662,097 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $584.1m | 30,548,239 |  | Reduced −424,779 |
| [BANK OF AMERICA CORP /DE/](/funds/70858.md) | 2026-06-30 | $538.0m | 28,139,938 |  | Reduced −2,816,420 |
| [Energy Income Partners, LLC](/funds/1388814.md) | 2026-06-30 | $490.5m | 25,654,536 |  | Added +447,081 |

## Recent filings

[All 1,120 filings](/companies/et/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-10 | 20:15 ET | [8-K](/filings/0001276187-26-000044.md) | 3.01 Delisting notice; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001276187-26-000044 |
| 2026-08-06 | 20:46 ET | [10-Q](/filings/0001276187-26-000038.md) | Quarterly report, period 2026-06-30 | 0001276187-26-000038 |
| 2026-08-04 | 11:43 ET | [8-K](/filings/0001276187-26-000033.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001276187-26-000033 |
| 2026-07-21 | 22:02 ET | [8-K](/filings/0001193125-26-309155.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001193125-26-309155 |
| 2026-07-08 | 14:47 ET | [8-K](/filings/0001193125-26-298149.md) | 1.01 Entry into a material agreement; 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-298149 |
| 2026-06-03 | 20:31 ET | [8-K](/filings/0001276187-26-000030.md) | 5.02 Departure or appointment of officers or directors | 0001276187-26-000030 |
| 2026-05-07 | 20:27 ET | [10-Q](/filings/0001276187-26-000026.md) | Quarterly report, period 2026-03-31 | 0001276187-26-000026 |
| 2026-05-05 | 11:36 ET | [8-K](/filings/0001276187-26-000021.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001276187-26-000021 |
| 2026-02-19 | 21:40 ET | [10-K](/filings/0001276187-26-000013.md) | Annual report, period 2025-12-31 | 0001276187-26-000013 |
| 2026-02-17 | 12:41 ET | [8-K](/filings/0001276187-26-000004.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001276187-26-000004 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001276187-26-000013.md), filed Feb 19, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/081df87d-df07-4fb8-929e-126a07100143)

## About the filer

- CIK: 1276187
- Tickers: ET, ET-PI
- Exchange: TXSE
- SIC code: 4922 Natural Gas Transmission
- State of incorporation: OK
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:35 ET. No prices; not investment advice.