Energy Transfer (ET) Cost of Revenue (2011 - 2026)
Energy Transfer's Cost of Revenue came in at $26.94 billion for Q2 2026, up 93.1% from $13.95 billion a year earlier and up 27.4% from the prior quarter.
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Analysis
Energy Transfer (ET) Cost of Revenue (2011 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Energy Transfer reported Cost of Revenue of $82.06 billion, up 38.4% year-over-year; for FY2025, it came in at $63.5 billion, up 2.5% from FY2024.
- Cost of Revenue carries a five-year compound annual growth rate of 20.0% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $61.98 billion in FY2024 (+2.4%), $60.54 billion in FY2023 (-16.2%), $72.23 billion in FY2022 (+43.3%) and $50.4 billion in FY2021 (+97.7%).
- The Q2 2026 figure represents the highest quarterly Cost of Revenue since Q1 2019.
- Year-over-year, Cost of Revenue has increased for three consecutive quarters, with growth averaging 16.2% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in Q4 2021 (growth of 120.1%), and the weakest in Q2 2023 (a decline of 34.5%).
- Business Quant data shows ET's Cost of Revenue at $21.15 billion (Q1 2026), $19.42 billion (Q4 2025) and $14.56 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 100.40 Bn | 97.94 Bn | 4.84 Bn | 16.35 Bn |
| 2 | Williams Companies | 86.28 Bn | 85.00 Bn | 2.54 Bn | 515.00 Mn |
| 3 | Enterprise Products Partners | 78.15 Bn | 76.58 Bn | - | - |
| 4 | Energy Transfer | 70.55 Bn | 63.99 Bn | 7.40 Bn | 26.94 Bn |
| 5 | Kinder Morgan | 69.13 Bn | 70.08 Bn | 3.07 Bn | 1.41 Bn |
| 6 | Tc Energy | 61.50 Bn | 64.57 Bn | 2.81 Bn | 52.77 Mn |
| 7 | Targa Resources | 60.39 Bn | 60.01 Bn | 2.14 Bn | 2.30 Bn |
| 8 | Mplx | 57.19 Bn | 50.75 Bn | 2.91 Bn | 405.00 Mn |
| 9 | Cheniere Energy | 55.74 Bn | 55.87 Bn | 5.29 Bn | 439.00 Mn |
| 10 | Oneok | 55.40 Bn | 53.89 Bn | 2.81 Bn | 9.24 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 26.94 Bn |
| Mar 31, 2026 | 21.15 Bn |
| Dec 31, 2025 | 19.42 Bn |
| Sep 30, 2025 | 14.56 Bn |
| Jun 30, 2025 | 13.95 Bn |
| Mar 31, 2025 | 15.57 Bn |
| Dec 31, 2024 | 14.16 Bn |
| Sep 30, 2024 | 15.61 Bn |
| Jun 30, 2024 | 15.61 Bn |
| Mar 31, 2024 | 16.60 Bn |
| Dec 31, 2023 | 15.78 Bn |
| Sep 30, 2023 | 16.06 Bn |
| Jun 30, 2023 | 14.09 Bn |
| Mar 31, 2023 | 14.61 Bn |
| Dec 31, 2022 | 16.06 Bn |
| Sep 30, 2022 | 18.52 Bn |
| Jun 30, 2022 | 21.52 Bn |
| Mar 31, 2022 | 16.14 Bn |
| Dec 31, 2021 | 14.75 Bn |
| Sep 30, 2021 | 13.19 Bn |
API Access
Energy Transfer Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "ET", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();