Energy Transfer (ET) Gross Margin (2009 - 2026)
Energy Transfer's (ET) quarterly Gross Margin came in at 21.55% in Q2 2026, down 598.0% on a YoY basis from 4.33% in Q2 2025, and down 9.64% quarter-over-quarter from 23.85% in Q1 2026.
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Energy Transfer (ET) Gross Margin (2009 - 2026) Analysis & Trends
Energy Transfer (ET) has reported Gross Margin for 18 consecutive years, with 21.55% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin fell 598.0% year-over-year to 21.55%; the trailing twelve-month figure through Jun 2026 stood at 3.71% (down 2271.0% YoY), and the FY2025 full-year result was 25.77%, up 73.0% from the prior year.
- Gross Margin slipped to 21.55% in Q2 2026 per ET's latest filing, from 23.85% 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.
- Historically, Gross Margin has averaged 6.4% across 5 years, with a median of 23.11% in 2023.
- The sharpest annual moves came in 2023 and 2025: Gross Margin soared 600 bps in 2023, then plunged 54004 bps in 2025.
- Over 5 years, 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 soared by 104 bps to 21.55% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 21.55%, 23.85%, and 512.49% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 111.69 Bn | 112.81 Bn | 3.07 Bn | 68.62% |
| 2 | Enterprise Products Partners | 84.07 Bn | 83.21 Bn | - | - |
| 3 | Energy Transfer | 74.03 Bn | 73.00 Bn | 7.40 Bn | 21.55% |
| 4 | Tc Energy | 65.16 Bn | 64.62 Bn | 1.80 Bn | 62.88% |
| 5 | Targa Resources | 62.18 Bn | 62.19 Bn | 2.14 Bn | 48.15% |
| 6 | Mplx | 60.51 Bn | 59.48 Bn | 2.73 Bn | 82.28% |
| 7 | Oneok | 60.16 Bn | 60.09 Bn | 2.81 Bn | 23.30% |
| 8 | Enbridge | 54.38 Bn | 54.88 Bn | 5.23 Bn | 24.69% |
| 9 | Pembina Pipeline | 28.12 Bn | 27.76 Bn | 933.00 Mn | 43.36% |
| 10 | Gas Transporter Of The South | 21.92 Bn | -3,019.13 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.55% |
| 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% |