NGL Energy Partners (NGL) Gross Margin (2010 - 2026)
NGL Energy Partners' Gross Margin came in at 26.21% for fiscal Q2 2027 (quarter ended Sep 30, 2026), down 11.39 percentage points from 37.60% a year earlier and down 4.66 percentage points from the prior quarter.
NGL Energy Partners (NGL) Gross Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, NGL Energy Partners reported Gross Margin of 27.25%, down 3.57 percentage points year-over-year; for FY2026 (ended Mar 31, 2026), it came in at 30.86%, up 3.13 percentage points from FY2025.
- Gross Margin has increased in each of the last four fiscal years, with a five-year change of +16.83 percentage points (FY2021 to FY2026).
- Going back by fiscal year, Gross Margin was 27.73% in FY2025 (+4.43 pp), 23.30% in FY2024 (+5.88 pp), 17.43% in FY2023 (+7.25 pp) and 10.17% in FY2022 (-3.85 pp).
- The five-year range for quarterly Gross Margin is 7.68% (fiscal Q4 2022) to 38.47% (fiscal Q1 2026).
- Year-over-year, Gross Margin has declined for three consecutive quarters, with an average year-over-year change of +0.67 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in fiscal Q1 2024 (a gain of 14.78 percentage points), and the weakest in fiscal Q2 2027 (a drop of 11.39 percentage points).
- Business Quant data shows NGL's Gross Margin at 30.87% (Q1 2027), 22.88% (Q4 2026) and 28.99% (Q3 2026) in the three fiscal quarters before Q2 2027.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 28.91% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 80.39% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 0.08% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 65.44% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 17.71% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 36.08% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 48.05% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 88.60% |
| 10 | NGL Energy Partners | 75.44 Mn | 48.44 Mn | 258.58 Mn | 26.21% |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 26.21% |
| Jun 30, 2026 | 30.87% |
| 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% |
| 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% |
NGL Energy Partners Gross 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=gross-margin&ticker=NGL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "NGL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=NGL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();