# NGL Energy Partners LP: overview

NGL · NYSE · CIK 1504461 · [Utilities](/sectors/utilities.md) · fiscal year ends Mar 31

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

Latest reported revenue: [$990.0m](/filings/0001504461-26-000016.md) for Q1 FY2027, three months to 2026-06-30, from the 10-Q filed Aug 4, 2026 (XBRL us-gaap:Revenues, accession 0001504461-26-000016).

## Last eight quarters

| Line item | Unit | Q2 FY2025 (2024-09-30) | Q3 FY2025 (2024-12-31) | Q4 FY2025 (2025-03-31) | Q1 FY2026 (2025-06-30) | Q2 FY2026 (2025-09-30) | Q3 FY2026 (2025-12-31) | Q4 FY2026 (2026-03-31) | Q1 FY2027 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [756](/filings/0001504461-25-000021.md) | [982](/filings/0001504461-26-000003.md) | [971](/filings/0001504461-25-000014.md) | [622](/filings/0001504461-26-000016.md) | [675](/filings/0001504461-25-000021.md) | [910](/filings/0001504461-26-000003.md) | [950 d](/filings/0001504461-26-000012.md) | [990](/filings/0001504461-26-000016.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [10.8%](/filings/0001504461-25-000021.md) | [8.6%](/filings/0001504461-26-000003.md) | [8.4% d](/filings/0001504461-26-000012.md) | [15.7%](/filings/0001504461-26-000016.md) | [14.0%](/filings/0001504461-25-000021.md) | [12.1%](/filings/0001504461-26-000003.md) | [(21.8%) d](/filings/0001504461-26-000012.md) | [14.7%](/filings/0001504461-26-000016.md) |
| Net margin | % | [0.3%](/filings/0001504461-25-000021.md) | [1.4%](/filings/0001504461-26-000003.md) | [1.4%](/filings/0001504461-25-000014.md) | [11.1%](/filings/0001504461-26-000016.md) | [4.3%](/filings/0001504461-25-000021.md) | [5.2%](/filings/0001504461-26-000003.md) | [(30.3%) d](/filings/0001504461-26-000012.md) | [8.0%](/filings/0001504461-26-000016.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | [(141) d](/filings/0001504461-25-000021.md) | [152 d](/filings/0001504461-26-000003.md) | [117 d](/filings/0001504461-26-000012.md) | [11.1](/filings/0001504461-26-000016.md) | [9.5 d](/filings/0001504461-25-000021.md) | [45.7 d](/filings/0001504461-26-000003.md) | [78.4 d](/filings/0001504461-26-000012.md) | [(31.7)](/filings/0001504461-26-000016.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: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2022 (2022-03-31) | FY2023 (2023-03-31) | FY2024 (2024-03-31) | FY2025 (2025-03-31) | FY2026 (2026-03-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [7,948](/filings/0001504461-24-000013.md) | [5,679](/filings/0001504461-25-000014.md) | [4,153](/filings/0001504461-26-000012.md) | [3,469](/filings/0001504461-26-000012.md) | [3,156](/filings/0001504461-26-000012.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [1.0%](/filings/0001504461-24-000013.md) | [4.3%](/filings/0001504461-25-000014.md) | [3.9%](/filings/0001504461-26-000012.md) | [9.5%](/filings/0001504461-26-000012.md) | [3.0%](/filings/0001504461-26-000012.md) |
| Net margin | % | [(2.3%)](/filings/0001504461-24-000013.md) | [0.9%](/filings/0001504461-25-000014.md) | [(3.5%)](/filings/0001504461-26-000012.md) | [1.1%](/filings/0001504461-26-000012.md) | [(4.5%)](/filings/0001504461-26-000012.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | [63.5](/filings/0001504461-24-000013.md) | [297](/filings/0001504461-25-000014.md) | [224](/filings/0001504461-26-000012.md) | [51.6](/filings/0001504461-26-000012.md) | [145](/filings/0001504461-26-000012.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/ngl/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 |
| --- | --- | ---: | ---: | --- | --- |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $311.7m | 19,567,103 |  | Reduced −7,472 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $162.2m | 10,180,003 |  | Added +386,178 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $136.1m | 8,540,825 |  | Added +419,670 |
| [BANK OF AMERICA CORP /DE/](/funds/70858.md) | 2026-06-30 | $127.0m | 7,970,709 |  | Reduced −304,327 |
| [TPG GP A, LLC](/funds/1903793.md) | 2026-06-30 | $92.1m | 5,784,322 |  | Reduced −150,171 |
| [ING GROEP NV](/funds/1039765.md) | 2026-06-30 | $86.4m | 5,421,803 |  | Added +110,000 |
| [CITIGROUP INC](/funds/831001.md) | 2026-06-30 | $68.6m | 4,304,817 |  | Added +1,267,528 |
| [JPMORGAN CHASE & CO](/funds/19617.md) | 2026-06-30 | $45.3m | 2,833,024 |  | Reduced −269,685 |
| [NOMURA HOLDINGS INC](/funds/1163653.md) | 2026-06-30 | $39.8m | 2,500,760 |  | Added +296,504 |
| [MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.](/funds/1705339.md) | 2026-06-30 | $22.3m | 1,400,528 |  | Added +1,400,428 |

## Recent filings

[All 902 filings](/companies/ngl/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-04 | 16:31 ET | [10-Q](/filings/0001504461-26-000016.md) | Quarterly report, period 2026-06-30 | 0001504461-26-000016 |
| 2026-05-28 | 16:25 ET | [10-K](/filings/0001504461-26-000012.md) | Annual report, period 2026-03-31 | 0001504461-26-000012 |
| 2026-03-12 | 16:54 ET | [8-K](/filings/0001104659-26-027132.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-027132 |
| 2026-02-09 | 16:10 ET | [8-K](/filings/0001504461-26-000005.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001504461-26-000005 |
| 2026-02-03 | 16:23 ET | [10-Q](/filings/0001504461-26-000003.md) | Quarterly report, period 2025-12-31 | 0001504461-26-000003 |
| 2025-12-29 | 10:35 ET | [DEF 14A](/filings/0001504461-25-000025.md) | Proxy statement, period 2025-12-29 | 0001504461-25-000025 |
| 2025-11-04 | 16:21 ET | [10-Q](/filings/0001504461-25-000021.md) | Quarterly report, period 2025-09-30 | 0001504461-25-000021 |
| 2025-08-07 | 16:25 ET | [10-Q](/filings/0001504461-25-000018.md) | Quarterly report, period 2025-06-30 | 0001504461-25-000018 |
| 2025-05-29 | 16:25 ET | [10-K](/filings/0001504461-25-000014.md) | Annual report, period 2025-03-31 | 0001504461-25-000014 |
| 2025-02-10 | 16:21 ET | [10-Q](/filings/0001504461-25-000004.md) | Quarterly report, period 2024-12-31 | 0001504461-25-000004 |

## Latest annual report

[Form 10-K for the fiscal year ended Mar 31, 2026](/filings/0001504461-26-000012.md), filed May 28, 2026.

## Forecast league

Q2 FY2027, 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/01e631a7-8893-4c4a-b14d-bc0064bb43e0)

## About the filer

- CIK: 1504461
- Tickers: NGL, NGL-PC, NGL-PB
- Exchange: NYSE
- SIC code: 4922 Natural Gas Transmission
- State of incorporation: DE
- Filer category: Accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:41 ET. No prices; not investment advice.