Energy Transfer (ET) Gross Margin (2009 - 2026)
Energy Transfer (ET) posted Gross Margin of 23.85% for Q1 2026, up 104.65% on a QoQ basis from 512.49% in Q4 2025, and down 208.0% year-over-year from 22.08% in Q1 2025.
Energy Transfer (ET) Gross Margin (2009 - 2026) Analysis & Trends
Energy Transfer's Gross Margin history runs 18 years deep, the most recent figure standing at 23.85% for Q1 2026.
- Quarterly Gross Margin fell 208.0% year-over-year to 23.85% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 1.52% (down 2421.0% YoY) and the FY2025 annual result came in at 25.77%, up 73.0% from the prior year.
- Gross Margin was 23.85% for Q1 2026 at Energy Transfer, up from 512.49% in the prior quarter.
- Across five years, Gross Margin topped out at 27.55% in Q4 2024 and bottomed at 512.49% in Q4 2025.
- A 5-year average of 8.04% and a median of 23.14% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin surged 600 bps — and 2025, when it slumped 54004 bps.
- Energy Transfer's Gross Margin stood at 21.65% in 2022, then climbed by 7 bps to 23.14% in 2023, then advanced by 19 bps to 27.55% in 2024, then sank by 1960 bps to 512.49% in 2025, then jumped by 105 bps to 23.85% in 2026.
- Business Quant data shows ET's Gross Margin at 23.85% in Q1 2026, 512.49% in Q4 2025, and 27.02% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 89.73% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 76.80% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 68.62% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 41.12% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | - |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 97.17% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 23.85% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 41.52% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 93.41% |
| 10 | Mplx | 58.39 Bn | 56.89 Bn | 1.95 Bn | 82.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.85% |
| Dec 31, 2025 | -512.49% |
| Sep 30, 2025 | 27.02% |
| Jun 30, 2025 | 27.52% |
| Mar 31, 2025 | 25.92% |
| Dec 31, 2024 | 27.55% |
| Sep 30, 2024 | 24.84% |
| Jun 30, 2024 | 24.70% |
| Mar 31, 2024 | 23.27% |
| Dec 31, 2023 | 23.14% |
| Sep 30, 2023 | 22.57% |
| Jun 30, 2023 | 23.08% |
| Mar 31, 2023 | 23.09% |
| Dec 31, 2022 | 21.65% |
| Sep 30, 2022 | 19.28% |
| Jun 30, 2022 | 17.07% |
| Mar 31, 2022 | 21.24% |
| Dec 31, 2021 | 20.92% |
| Sep 30, 2021 | 20.86% |
| Jun 30, 2021 | 23.81% |