Energy Transfer (ET) Net Margin (2009 - 2026)
Energy Transfer (ET) reported Net Margin of 4.3% for Q1 2026, down 167.0% on a YoY basis from 6.42% in Q1 2025, and down 84.3% quarter-over-quarter from 27.38% in Q4 2025.
Energy Transfer (ET) Net Margin (2009 - 2026) Analysis & Trends
Energy Transfer has reported Net Margin for 18 years, with the latest figure at 4.3% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin fell 167.0% year-over-year to 4.3%; the trailing twelve-month figure through Mar 2026 stood at 5.86% (up 31.0% YoY), and the FY2025 full-year result was 4.88%, down 44.0% from the prior year.
- Net Margin for Q1 2026 stood at 4.3%, down from 27.38% in the prior quarter.
- The five-year high for Net Margin was 27.38% in Q4 2025, with the low at 2.25% in Q3 2023.
- Historically, Net Margin has averaged 6.27% across 5 years, with a median of 5.16% in 2024.
- Annual changes were most pronounced in 2022 — Net Margin tumbled 1366 bps — and 2025, when it jumped 2222 bps.
- Energy Transfer's Net Margin stood at 5.12% in 2022, then advanced by 15 bps to 5.86% in 2023, then declined by 12 bps to 5.16% in 2024, then soared by 431 bps to 27.38% in 2025, then plunged by 84 bps to 4.3% in 2026.
- The last three Net Margin figures came in at 4.3% (Q1 2026), 27.38% (Q4 2025), and 4.81% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 88.15 Bn | 88.85 Bn | 6.70 Bn | 7.47% |
| 2 | Enterprise Products Partners | 81.41 Bn | 80.26 Bn | - | 10.39% |
| 3 | Kinder Morgan | 69.70 Bn | 70.78 Bn | 3.08 Bn | 20.73% |
| 4 | Energy Transfer | 66.51 Bn | 65.79 Bn | 6.62 Bn | 4.30% |
| 5 | Scorpio Tankers | 59.31 Bn | 58.33 Bn | - | - |
| 6 | Mplx | 57.21 Bn | 55.70 Bn | 2.54 Bn | 30.35% |
| 7 | Targa Resources | 56.78 Bn | 56.82 Bn | 1.70 Bn | 11.71% |
| 8 | Oneok | 55.57 Bn | 55.44 Bn | 2.57 Bn | 8.07% |
| 9 | Tc Energy | 50.90 Bn | 52.09 Bn | 2.95 Bn | 23.51% |
| 10 | Cheniere Energy | 49.81 Bn | 52.01 Bn | 5.86 Bn | -58.15% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.30% |
| Dec 31, 2025 | 27.38% |
| Sep 30, 2025 | 4.81% |
| Jun 30, 2025 | 5.67% |
| Mar 31, 2025 | 5.97% |
| Dec 31, 2024 | 5.16% |
| Sep 30, 2024 | 5.37% |
| Jun 30, 2024 | 5.70% |
| Mar 31, 2024 | 5.03% |
| Dec 31, 2023 | 5.86% |
| Sep 30, 2023 | 2.25% |
| Jun 30, 2023 | 4.35% |
| Mar 31, 2023 | 5.28% |
| Dec 31, 2022 | 5.12% |
| Sep 30, 2022 | 3.92% |
| Jun 30, 2022 | 4.70% |
| Mar 31, 2022 | 5.67% |
| Dec 31, 2021 | 4.40% |
| Sep 30, 2021 | 3.21% |
| Jun 30, 2021 | 3.57% |