Energy Transfer (ET) Net Margin (2009 - 2026)
Energy Transfer's (ET) quarterly Net Margin came in at 5.9% in Q2 2026, up 23.0% on a YoY basis from 4.8% in Q2 2025, and up 37.31% quarter-over-quarter from 4.3% in Q1 2026.
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Analysis
Energy Transfer (ET) Net Margin (2009 - 2026) Analysis & Trends
Energy Transfer (ET) has reported Net Margin for 18 consecutive years, with 5.9% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Net Margin rose 23.0% year-over-year to 5.9%; the trailing twelve-month figure through Jun 2026 stood at 5.92% (up 38.0% YoY), and the FY2025 full-year result was 4.88%, down 44.0% from the prior year.
- Net Margin advanced to 5.9% in Q2 2026 per ET's latest filing, from 4.3% in the prior quarter.
- Across five years, Net Margin topped out at 27.38% in Q4 2025 and bottomed at 2.25% in Q3 2023.
- Historically, Net Margin has averaged 6.25% across 5 years, with a median of 5.22% in 2023.
- The sharpest annual moves came in 2022 and 2025: Net Margin plunged 1366 bps in 2022, then surged 2222 bps in 2025.
- Over 5 years, Net Margin stood at 5.12% in 2022, then grew by 15 bps to 5.86% in 2023, then retreated by 12 bps to 5.16% in 2024, then surged by 431 bps to 27.38% in 2025, then tumbled by 78 bps to 5.9% in 2026.
- According to Business Quant data, Net Margin over the past three periods registered 5.9%, 4.3%, and 27.38% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 111.69 Bn | 112.81 Bn | 3.07 Bn | 19.97% |
| 2 | Enterprise Products Partners | 84.07 Bn | 83.21 Bn | - | 10.16% |
| 3 | Energy Transfer | 74.03 Bn | 73.00 Bn | 7.40 Bn | 5.90% |
| 4 | Tc Energy | 65.16 Bn | 64.62 Bn | 1.80 Bn | 24.94% |
| 5 | Targa Resources | 62.18 Bn | 62.19 Bn | 2.14 Bn | 17.22% |
| 6 | Mplx | 60.51 Bn | 59.48 Bn | 2.73 Bn | 32.82% |
| 7 | Oneok | 60.16 Bn | 60.09 Bn | 2.81 Bn | 8.03% |
| 8 | Enbridge | 54.38 Bn | 54.88 Bn | 5.23 Bn | 4.76% |
| 9 | Pembina Pipeline | 28.12 Bn | 27.76 Bn | 933.00 Mn | 23.70% |
| 10 | Gas Transporter Of The South | 21.92 Bn | -3,019.13 Bn | - | - |
Historic Data
Download Data
Historic 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% |