Energy Transfer (ET) Net Margin (2009 - 2026)
Energy Transfer's (ET) quarterly Net Margin came in at 4.3% in Q1 2026, down 167.0% YoY from 6.42% in Q1 2025, and down 84.3% on a QoQ basis from 27.38% in Q4 2025.
Energy Transfer (ET) Net Margin (2009 - 2026) Analysis & Trends
Energy Transfer (ET) has 18 years of Net Margin data on file, last reported at 4.3% in Q1 2026.
- Quarterly Net Margin fell 167.0% year-over-year to 4.3% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 5.86% (up 31.0% YoY) and the FY2025 annual result came in at 4.88%, down 44.0% from the prior year.
- Net Margin slipped to 4.3% in Q1 2026, from 27.38% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 27.38% in Q4 2025 to a low of 2.25% in Q3 2023.
- A 5-year average of 6.27% and a median of 5.16% in 2024 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2022 — Net Margin tumbled 1366 bps — and 2025, when it jumped 2222 bps.
- Tracing ET's Net Margin over 5 years: 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.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 19.97% |
| 2 | Enbridge | 110.90 Bn | 109.41 Bn | 5.23 Bn | 4.76% |
| 3 | Enterprise Products Partners | 83.47 Bn | 82.57 Bn | - | 10.16% |
| 4 | Energy Transfer | 72.69 Bn | 71.66 Bn | 7.40 Bn | 5.90% |
| 5 | Tc Energy | 65.95 Bn | 58.39 Bn | 1.24 Bn | 55.36% |
| 6 | Oneok | 60.15 Bn | 59.99 Bn | 2.81 Bn | 8.03% |
| 7 | Mplx | 59.97 Bn | 58.94 Bn | 2.73 Bn | 32.82% |
| 8 | Targa Resources | 59.51 Bn | 59.37 Bn | 2.14 Bn | 17.22% |
| 9 | Cheniere Energy | 56.09 Bn | 54.84 Bn | 5.29 Bn | 63.54% |
| 10 | Venture Global | 34.41 Bn | 31.19 Bn | 2.92 Bn | 29.42% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 5.90% |
| 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% |