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 (ET) has reported Gross Margin for 18 consecutive years, with 23.85% the latest figure, recorded in Q1 2026.
- Gross Margin for Q1 2026 came in at 23.85%, down 208.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 1.52% (down 2421.0% YoY), and the FY2025 annual result was 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.
- Over five years, Gross Margin peaked at 27.55% in Q4 2024 and troughed 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 soared 600 bps — and 2025, when it slumped 54004 bps.
- Year by year, 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 tumbled by 1960 bps to 512.49% in 2025, then jumped by 105 bps to 23.85% in 2026.
- Per Business Quant, the three latest ET Gross Margin figures stand at 23.85% (Q1 2026), 512.49% (Q4 2025), and 27.02% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 41.12% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 63.77% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | - |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 23.85% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 41.52% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 83.61% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 26.67% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 23.28% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 94.13% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | 7.83% |
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% |