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 (NGL) has reported Gross Margin for 17 consecutive years, with 22.88% the latest figure, recorded in Q1 2026.
- Gross Margin for Q1 2026 came in at 22.88%, down 406.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 30.86% (up 313.0% YoY), and the FY2026 annual result was 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.
- Over five years, Gross Margin peaked at 38.47% in Q2 2025 and troughed 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 surged 4491 bps.
- Year by year, 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.
- Per Business Quant, the three latest NGL Gross Margin figures stand at 22.88% (Q1 2026), 28.99% (Q4 2025), and 37.6% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 41.12% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 63.77% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | - |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 23.85% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 41.52% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 83.61% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 26.67% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 23.28% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 94.13% |
| 10 | NGL Energy Partners | 2.02 Bn | 2.02 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% |