Energy Transfer LP (ET) Operating Margin (2009 - 2026)
Energy Transfer (ET) recorded Operating Margin of 10.41% in Q2 2026, down 1.59 percentage points from 12.00% a year earlier and down 0.33 percentage points from the prior quarter.
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Analysis
Energy Transfer LP (ET) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Energy Transfer's Operating Margin came in at 10.04% as of Jun 30, 2026, down 1.45 percentage points year-over-year; for FY2025, it came in at 10.55%, down 0.50 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +2.90 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 11.05% in FY2024 (+0.50 pp), 10.56% in FY2023 (+1.95 pp), 8.61% in FY2022 (-4.43 pp) and 13.04% in FY2021 (+5.39 pp).
- Quarterly Operating Margin has ranged from 8.14% in Q2 2022 to 12.00% in Q2 2025 over the past five years.
- On a year-over-year basis, Operating Margin has declined for three consecutive quarters, with an average year-over-year change of -0.41 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 6.17 percentage points in Q3 2021, against a drop of 14.93 percentage points in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 10.74% (Q1 2026), 8.20% (Q4 2025) and 10.78% (Q3 2025).
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Historic Data
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Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.41% |
| Mar 31, 2026 | 10.74% |
| Dec 31, 2025 | 8.20% |
| Sep 30, 2025 | 10.78% |
| Jun 30, 2025 | 12.00% |
| Mar 31, 2025 | 11.85% |
| Dec 31, 2024 | 11.66% |
| Sep 30, 2024 | 10.50% |
| Jun 30, 2024 | 11.09% |
| Mar 31, 2024 | 11.00% |
| Dec 31, 2023 | 10.54% |
| Sep 30, 2023 | 10.77% |
| Jun 30, 2023 | 10.02% |
| Mar 31, 2023 | 10.86% |
| Dec 31, 2022 | 8.81% |
| Sep 30, 2022 | 8.60% |
| Jun 30, 2022 | 8.14% |
| Mar 31, 2022 | 9.01% |
| Dec 31, 2021 | 9.05% |
| Sep 30, 2021 | 8.62% |
API Access
Energy Transfer LP Operating Margin 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=operating-margin&ticker=ET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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=operating-margin&ticker=ET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();