NGL Energy Partners (NGL) Gross Margin (2010 - 2026)
NGL Energy Partners (NGL) posted Gross Margin of 22.88% for Q1 2026, down 21.07% on a QoQ basis from 28.99% in Q4 2025, and down 406.0% year-over-year from 7.48% in Q1 2025.
NGL Energy Partners (NGL) Gross Margin (2010 - 2026) Analysis & Trends
NGL Energy Partners' Gross Margin history runs 17 years deep, the most recent figure standing at 22.88% for Q1 2026.
- Quarterly Gross Margin fell 406.0% year-over-year to 22.88% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 30.86% (up 313.0% YoY) and the FY2026 annual result came in at 30.86%, up 313.0% from the prior year.
- Gross Margin was 22.88% for Q1 2026 at NGL Energy Partners, down from 28.99% in the prior quarter.
- Across five years, Gross Margin topped out at 38.47% in Q2 2025 and bottomed at 23.06% in Q1 2023.
- A 5-year average of 20.77% and a median of 24.49% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin tumbled 3075 bps — and 2024, when it jumped 4491 bps.
- NGL Energy Partners' Gross Margin stood at 13.04% in 2022, then soared by 68 bps to 21.93% in 2023, then rose by 15 bps to 25.14% in 2024, then advanced by 15 bps to 28.99% in 2025, then fell by 21 bps to 22.88% in 2026.
- Business Quant data shows NGL's Gross Margin at 22.88% in Q1 2026, 28.99% in Q4 2025, and 37.6% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 89.73% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 76.80% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 68.62% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 41.12% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | - |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 97.17% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 23.85% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 41.52% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 93.41% |
| 10 | NGL Energy Partners | 2.13 Bn | 2.12 Bn | 217.25 Mn | 22.88% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 22.88% |
| Dec 31, 2025 | 28.99% |
| Sep 30, 2025 | 37.60% |
| Jun 30, 2025 | 38.47% |
| Mar 31, 2025 | 26.94% |
| Dec 31, 2024 | 25.14% |
| Sep 30, 2024 | 30.87% |
| Jun 30, 2024 | 28.97% |
| Mar 31, 2024 | 21.85% |
| Dec 31, 2023 | 21.93% |
| Sep 30, 2023 | 25.36% |
| Jun 30, 2023 | 24.49% |
| Mar 31, 2023 | -23.06% |
| Dec 31, 2022 | 13.04% |
| Sep 30, 2022 | 12.21% |
| Jun 30, 2022 | 9.71% |
| Mar 31, 2022 | 7.68% |
| Dec 31, 2021 | 10.20% |
| Sep 30, 2021 | 13.03% |
| Jun 30, 2021 | 11.01% |