Energy Transfer (ET) Invested Capital (2009 - 2026)
Energy Transfer (ET) reported Invested Capital of $118.5 billion for Q3 2026, up 9.3% from $108.45 billion a year earlier but down 0.4% from the prior quarter.
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Analysis
Energy Transfer (ET) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Energy Transfer posted Invested Capital of $117.34 billion, up 10.9% from FY2024.
- Invested Capital has increased for three consecutive years, with a five-year compound annual growth rate of 7.2% (FY2020 to FY2025).
- By year, Invested Capital came in at $105.78 billion in FY2024 (+9.8%), $96.33 billion in FY2023 (+8.3%), $88.92 billion in FY2022 (-0.1%) and $89.05 billion in FY2021 (+7.5%).
- Five-year quarterly Invested Capital spans a low of $87.9 billion in Q1 2023 and a high of $119.07 billion in Q1 2026.
- Year over year, Invested Capital has now increased in each of the last 14 quarters, with growth averaging 8.6% over the last eight quarters.
- The high point for year-over-year Invested Capital in five years was Q3 2024 (growth of 18.9%); the low point was Q1 2023 (a decline of 2.1%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $118.93 billion (Q2 2026), $119.07 billion (Q1 2026) and $117.34 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 130.05 Bn |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 22.36 Bn |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 64.63 Bn |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 65.90 Bn |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | 61.79 Bn |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 118.50 Bn |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 23.81 Bn |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 35.90 Bn |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 41.30 Bn |
| 10 | Oneok | 56.58 Bn | 65.12 Bn | 2.84 Bn | 60.98 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 118.50 Bn |
| Jun 30, 2026 | 118.93 Bn |
| Mar 31, 2026 | 119.07 Bn |
| Dec 31, 2025 | 117.34 Bn |
| Sep 30, 2025 | 108.45 Bn |
| Jun 30, 2025 | 106.29 Bn |
| Mar 31, 2025 | 105.95 Bn |
| Dec 31, 2024 | 105.78 Bn |
| Sep 30, 2024 | 105.44 Bn |
| Jun 30, 2024 | 103.09 Bn |
| Mar 31, 2024 | 97.27 Bn |
| Dec 31, 2023 | 96.33 Bn |
| Sep 30, 2023 | 88.64 Bn |
| Jun 30, 2023 | 89.09 Bn |
| Mar 31, 2023 | 87.90 Bn |
| Dec 31, 2022 | 88.92 Bn |
| Sep 30, 2022 | 87.98 Bn |
| Jun 30, 2022 | 88.87 Bn |
| Mar 31, 2022 | 89.81 Bn |
| Dec 31, 2021 | 89.05 Bn |
API Access
Energy Transfer Invested Capital 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=invested-capital&ticker=ET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=ET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();