NGL Energy Partners (NGL) Operating Margin (2010 - 2026)
NGL Energy Partners (NGL) reported Operating Margin of 21.76% for Q1 2026, down 3011.0% on a YoY basis from 0.75% in Q1 2025, and down 280.56% quarter-over-quarter from 12.05% in Q4 2025.
NGL Energy Partners (NGL) Operating Margin (2010 - 2026) Analysis & Trends
NGL Energy Partners has reported Operating Margin for 17 years, with the latest figure at 21.76% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin fell 3011.0% year-over-year to 21.76%; the trailing twelve-month figure through Mar 2026 stood at 3.0% (down 649.0% YoY), and the FY2026 full-year result was 3.0%, down 649.0% from the prior year.
- Operating Margin for Q1 2026 stood at 21.76%, down from 12.05% in the prior quarter.
- The five-year high for Operating Margin was 15.66% in Q2 2025, with the low at 21.76% in Q1 2026.
- Historically, Operating Margin has averaged 5.22% across 5 years, with a median of 8.35% in 2025.
- Annual changes were most pronounced in 2025 — Operating Margin soared 1778 bps — and 2026, when it sank 3011 bps.
- NGL Energy Partners' Operating Margin stood at 4.8% in 2022, then jumped by 77 bps to 8.52% in 2023, then gained by 1 bps to 8.62% in 2024, then jumped by 40 bps to 12.05% in 2025, then plunged by 281 bps to 21.76% in 2026.
- The last three Operating Margin figures came in at 21.76% (Q1 2026), 12.05% (Q4 2025), and 13.97% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 88.33 Bn | 89.03 Bn | 6.70 Bn | 14.43% |
| 2 | Enterprise Products Partners | 80.83 Bn | 79.68 Bn | - | 13.17% |
| 3 | Kinder Morgan | 69.66 Bn | 70.75 Bn | 3.08 Bn | 29.91% |
| 4 | Energy Transfer | 65.60 Bn | 64.88 Bn | 6.62 Bn | 10.74% |
| 5 | Scorpio Tankers | 59.17 Bn | 58.19 Bn | - | - |
| 6 | Mplx | 57.43 Bn | 55.92 Bn | 2.54 Bn | 39.96% |
| 7 | Targa Resources | 56.68 Bn | 56.71 Bn | 1.70 Bn | 20.68% |
| 8 | Oneok | 55.34 Bn | 55.21 Bn | 2.57 Bn | 14.85% |
| 9 | Tc Energy | 50.79 Bn | 51.99 Bn | 2.95 Bn | 68.07% |
| 10 | NGL Energy Partners | 2.00 Bn | 1.99 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% |