Energy Transfer (ET) Net Margin (2009 - 2026)
Energy Transfer (ET) posted Net Margin of 4.3% for Q1 2026, down 84.3% on a QoQ basis from 27.38% in Q4 2025, and down 167.0% year-over-year from 6.42% in Q1 2025.
Energy Transfer (ET) Net Margin (2009 - 2026) Analysis & Trends
Energy Transfer (ET) has reported Net Margin for 18 consecutive years, with 4.3% the latest figure, recorded in Q1 2026.
- Net Margin for Q1 2026 came in at 4.3%, down 167.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 5.86% (up 31.0% YoY), and the FY2025 annual result was 4.88%, down 44.0% from the prior year.
- Net Margin was 4.3% for Q1 2026 at Energy Transfer, down from 27.38% in the prior quarter.
- Over five years, Net Margin peaked at 27.38% in Q4 2025 and troughed at 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 slumped 1366 bps — and 2025, when it surged 2222 bps.
- Year by year, 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 plunged by 84 bps to 4.3% in 2026.
- Per Business Quant, the three latest ET Net Margin figures stand at 4.3% (Q1 2026), 27.38% (Q4 2025), and 4.81% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 7.47% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 20.73% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 10.39% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 4.30% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 11.71% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 30.35% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 8.07% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 5.08% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 10.61% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | -0.83% |
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% |