NGL Energy Partners (NGL) Operating Margin (2010 - 2026)
NGL Energy Partners (NGL) posted Operating Margin of 21.76% for Q1 2026, down 280.56% on a QoQ basis from 12.05% in Q4 2025, and down 3011.0% year-over-year from 0.75% in Q1 2025.
NGL Energy Partners (NGL) Operating Margin (2010 - 2026) Analysis & Trends
NGL Energy Partners' Operating Margin history runs 17 years deep, the most recent figure standing at 21.76% for Q1 2026.
- Quarterly Operating Margin fell 3011.0% year-over-year to 21.76% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 3.0% (down 649.0% YoY) and the FY2026 annual result came in at 3.0%, down 649.0% from the prior year.
- Operating Margin was 21.76% for Q1 2026 at NGL Energy Partners, down from 12.05% in the prior quarter.
- Across five years, Operating Margin topped out at 15.66% in Q2 2025 and bottomed at 21.76% in Q1 2026.
- A 5-year average of 5.22% and a median of 8.35% in 2025 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2025 — Operating Margin soared 1778 bps — and 2026, when it plunged 3011 bps.
- NGL Energy Partners' Operating Margin stood at 4.8% in 2022, then soared by 77 bps to 8.52% in 2023, then climbed by 1 bps to 8.62% in 2024, then soared by 40 bps to 12.05% in 2025, then slumped by 281 bps to 21.76% in 2026.
- Business Quant data shows NGL's Operating Margin at 21.76% in Q1 2026, 12.05% in Q4 2025, and 13.97% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 90.00% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 103.91% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 30.06% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 14.43% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | 13.17% |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 31.60% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 10.74% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 20.68% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 14.85% |
| 10 | NGL Energy Partners | 2.13 Bn | 2.12 Bn | 217.25 Mn | -21.76% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -21.76% |
| Dec 31, 2025 | 12.05% |
| Sep 30, 2025 | 13.97% |
| Jun 30, 2025 | 15.66% |
| Mar 31, 2025 | 8.35% |
| Dec 31, 2024 | 8.62% |
| Sep 30, 2024 | 10.77% |
| Jun 30, 2024 | 10.81% |
| Mar 31, 2024 | -9.42% |
| Dec 31, 2023 | 8.52% |
| Sep 30, 2023 | 8.54% |
| Jun 30, 2023 | 7.90% |
| Mar 31, 2023 | 1.52% |
| Dec 31, 2022 | 4.80% |
| Sep 30, 2022 | 3.42% |
| Jun 30, 2022 | 3.49% |
| Mar 31, 2022 | 1.52% |
| Dec 31, 2021 | 2.26% |
| Sep 30, 2021 | 3.70% |
| Jun 30, 2021 | -4.66% |