Crude Oil Transportation & Services was Energy Transfer’s largest segment in fiscal 2025, bringing in $26.48B of $85.54B (31%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment In Etp | — | — | — | — | |||||||||||||
| Crude Oil Transportation & Services | $25.98B | $26.53B | $28.53B | $26.48B | |||||||||||||
| Investment In Sunoco Lp | $25.68B | $23.03B | $22.67B | $25.18B | |||||||||||||
| Ngl & Refined Products Transportation And Services | $21.41B | $18.41B | $20.98B | $21.18B | |||||||||||||
| Etp [Domain] | — | — | — | — | |||||||||||||
| Intrastate Transportation & Storage | $6.95B | $3.22B | $2.75B | $3.54B | |||||||||||||
| Midstream | $4.11B | $2.91B | $3.28B | $3.36B | |||||||||||||
| All Other | $2.86B | $1.33B | $1.28B | $2.45B | |||||||||||||
| Other Segments | — | — | — | — | |||||||||||||
| Interstate Transportation & Storage | $2.19B | $2.33B | $2.27B | $2.42B | |||||||||||||
| Investment In Regency | — | — | — | — | |||||||||||||
| Investment In Usac | $689.00M | $824.00M | $909.00M | $933.00M | |||||||||||||
| Regency [Domain] | — | — | — | — | |||||||||||||
| Investment In Lake Charles Lng | — | — | — | — | |||||||||||||
| Adjustments & Eliminations | — | — | — | — | |||||||||||||
| Intersegment Eliminations | — | — | — | — | |||||||||||||
| Total | $89.88B | $78.59B | $82.67B | $85.54B |
Energy Transfer brought in $85.54B from its eight segments in fiscal 2025, the year ended December 31, 2025. That was up 3.5% from $82.67B in fiscal 2024. Crude Oil Transportation & Services was the largest at $26.48B (31.0%), ahead of Investment In Sunoco Lp at $25.18B (29.4%) and Ngl & Refined Products Transportation And Services at $21.18B (24.8%). The other five segments brought in $12.70B combined.
Compared with fiscal 2024, All Other grew fastest, up 90.6% to $2.45B, while Crude Oil Transportation & Services fell the most, down 7.2% to $26.48B. From fiscal 2022 to 2025, combined revenue from these segments fell from $89.88B to $85.54B, a compound annual decline of 1.6%. Crude Oil Transportation & Services' share of the total rose from 28.9% to 31.0%.
Refined Product Sales was Energy Transfer’s largest product and service line in fiscal 2025, bringing in $24.21B of $85.54B (28%).
| Product and Service | FY 2009 | FY 2010 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Crude Sales | $23.47B | $23.49B | $25.37B | $23.49B | ||
| Refined Product Sales | $26.02B | $23.39B | $22.05B | $24.21B | ||
| Ngl Sales | $20.11B | $15.96B | $19.11B | $19.04B | ||
| Gathering, Transportation & Other Fees | $10.91B | $11.43B | $12.03B | $12.42B | ||
| Natural Gas Sales | $8.54B | $3.26B | $2.74B | $4.66B | ||
| Midstream | — | — | — | — | ||
| Intrastate Transportation & Storage | — | — | — | — | ||
| Retail Propane & Other Retail Propane Related | — | — | — | — | ||
| Other | $827.00M | $1.06B | $1.38B | $1.72B | ||
| Gathering & Processing | — | — | — | — | ||
| Interstate Transportation | — | — | — | — | ||
| Contract Compression | — | — | — | — | ||
| All Other | — | — | — | — | ||
| Contract Treating | — | — | — | — | ||
| Corporate & Others | — | — | — | — | ||
| Total | $89.88B | $78.59B | $82.67B | $85.54B |
Energy Transfer brought in $85.54B from its six product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 3.5% from $82.67B in fiscal 2024. Refined Product Sales was the largest at $24.21B (28.3%), ahead of Crude Sales at $23.49B (27.5%) and Ngl Sales at $19.04B (22.3%). The other three lines brought in $18.80B combined.
Compared with fiscal 2024, Natural Gas Sales grew fastest, up 70.1% to $4.66B, while Crude Sales fell the most, down 7.4% to $23.49B. From fiscal 2022 to 2025, combined revenue from these lines fell from $89.88B to $85.54B, a compound annual decline of 1.6%. Refined Product Sales' share of the total fell from 29.0% to 28.3%.
Other Segments was Energy Transfer’s largest revenue line in fiscal 2015, bringing in $15.22B of $42.12B (36%).
| Customer | FY 2011 | FY 2013 | FY 2014 | FY 2015 |
|---|---|---|---|---|
| Retail Marketing | $21.00B | — | — | |
| Investment In Sunoco Logistics | $16.48B | $17.92B | — | |
| External Customers | — | — | $12.42B | |
| Other Segments | $2.09B | $25.35B | $15.22B | |
| Wholesale | — | — | $10.20B | |
| Midstream | $3.22B | $4.77B | — | |
| Liquids Transportation & Services | $2.03B | $3.73B | — | |
| Intrastate Transportation & Storage | $2.24B | $2.65B | $1.91B | |
| Retail | — | — | $2.23B | |
| Gathering & Processing | — | — | — | |
| Interstate Transportation & Storage | $1.27B | $1.06B | — | |
| Ngl Transportation & Services | — | — | — | |
| Contract Services | — | — | — | |
| Intersegment | — | — | $147.00M | |
| Corporate & Other | — | — | — | |
| Natural Gas Transportation | — | — | — | |
| Total | $48.34B | $55.48B | $42.12B |
Energy Transfer brought in $42.12B from its six revenue lines in fiscal 2015, the year ended December 31, 2015. Energy Transfer regrouped these revenue lines after fiscal 2014, so the total does not compare directly with that year's $55.48B. Other Segments was the largest at $15.22B (36.1%), ahead of External Customers at $12.42B (29.5%) and Wholesale at $10.20B (24.2%). The other three revenue lines brought in $4.29B combined.
Compared with fiscal 2014, Intrastate Transportation & Storage fell 27.7% to $1.91B and Other Segments fell 40.0% to $15.22B.
Energy Transfer began breaking out External Customers in fiscal 2015, Wholesale in fiscal 2015, Retail in fiscal 2015 and Intersegment in fiscal 2015. Energy Transfer stopped reporting Retail Marketing ($21.00B in fiscal 2013), Investment In Sunoco Logistics ($17.92B in fiscal 2014), Midstream ($4.77B in fiscal 2014) and two others as separate revenue lines.
Energy Transfer (ET) reports its revenue by segment, by product and service and by customer. In fiscal 2025, Crude Oil Transportation & Services was its largest segment, bringing in $26.48B (31.0% of the total), followed by Investment In Sunoco Lp at $25.18B (29.4%).
Crude Oil Transportation & Services was Energy Transfer's largest segment in fiscal 2025, bringing in $26.48B, or 31.0% of the $85.54B total across its eight segments.
Refined Product Sales was Energy Transfer's largest product and service line in fiscal 2025, bringing in $24.21B, or 28.3% of the $85.54B total across its six product and service lines.
Other Segments was Energy Transfer's largest revenue line in fiscal 2015, bringing in $15.22B, or 36.1% of the $42.12B total across its six revenue lines.
Among Energy Transfer's segments that make up at least 2% of revenue, All Other grew fastest in fiscal 2025, up 90.6% from $1.28B to $2.45B.
Every figure comes from Energy Transfer's annual financial filings, as reported. Each line keeps the name Energy Transfer gives it, and years follow its fiscal calendar.
Energy Transfer's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.