Product was NGL Energy Partners’s largest product and service line in fiscal 2026, bringing in $2.40B of $3.16B (76%).
| Product and Service | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Refined Products Sales | — | — | — | — | ||||||||
| Non-Topic 606 Revenues | — | — | — | — | ||||||||
| Product | $5.01B | $3.47B | $2.74B | $2.40B | ||||||||
| Crude Oil Sales | — | — | — | — | ||||||||
| Propane Sales | — | — | — | — | ||||||||
| Propane | — | — | — | — | ||||||||
| Service | $670.02M | $685.38M | $726.23M | $759.97M | ||||||||
| Other Product Sales | — | — | — | — | ||||||||
| Other Products Or Services | — | — | — | — | ||||||||
| Butane Sales | — | — | — | — | ||||||||
| Renewables Sales | — | — | — | — | ||||||||
| Service Fees | — | — | — | — | ||||||||
| Distillate Sales | — | — | — | — | ||||||||
| Distillate | — | — | — | — | ||||||||
| Crude Oil Transportation & Other | — | — | — | — | ||||||||
| Recovered Crude Oil | — | — | — | — | ||||||||
| Other Revenues | — | — | — | — | ||||||||
| Recovered Hydrocarbons | — | — | — | — | ||||||||
| Water Transportation | — | — | — | — | ||||||||
| Freshwater Revenues | — | — | — | — | ||||||||
| Consolidating Adjustments | — | — | — | — | ||||||||
| Elimination Of Intersegment Sales | — | — | — | — | ||||||||
| Intersegment Elimination | — | — | — | — | ||||||||
| Total | $5.68B | $4.15B | $3.47B | $3.16B |
NGL Energy Partners brought in $3.16B from its two product and service lines in fiscal 2026, the year ended March 31, 2026. That was down 9.0% from $3.47B in fiscal 2025. Product was the largest at $2.40B (75.9%), ahead of Service at $759.97M (24.1%).
Compared with fiscal 2025, Service grew 4.6% to $759.97M, while Product fell 12.6% to $2.40B. From fiscal 2023 to 2026, combined revenue from these lines fell from $5.68B to $3.16B, a compound annual decline of 17.8%. Product's share of the total fell from 88.2% to 75.9%.
Liquids Logistics was NGL Energy Partners’s largest segment in fiscal 2026, bringing in $1.26B of $3.16B (40%).
| Segment | 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 | FY 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Refined Products & Renewables | — | — | — | — | |||||||||||
| Liquids & Refined Products | — | — | — | — | |||||||||||
| Liquids Logistics | $2.52B | $1.77B | $1.83B | $1.26B | |||||||||||
| Crude Oil Logistics | $2.47B | $1.66B | $879.90M | $1.05B | |||||||||||
| Liquids | — | — | — | — | |||||||||||
| Natural Gas Liquids Logistics | — | — | — | — | |||||||||||
| Retail Propane | — | — | — | — | |||||||||||
| Water Solutions | $697.04M | $730.82M | $755.69M | $838.91M | |||||||||||
| Retail Propane & Distillate Operations | — | — | — | — | |||||||||||
| Consolidating Adjustments | — | — | — | — | |||||||||||
| Corporate & Other | -$8.59M | -$547.00K | -$15.00K | $418.00K | |||||||||||
| Corporate, Non-Segment | — | — | — | — | |||||||||||
| Elimination Of Intersegment Sales | — | — | — | — | |||||||||||
| Intersegment Elimination | — | — | — | — | |||||||||||
| Total | $5.68B | $4.15B | $3.47B | $3.16B |
NGL Energy Partners brought in $3.16B from its four segments in fiscal 2026, the year ended March 31, 2026. That was down 9.0% from $3.47B in fiscal 2025. Liquids Logistics was the largest at $1.26B (40.0%), ahead of Crude Oil Logistics at $1.05B (33.4%) and Water Solutions at $838.91M (26.6%). The remaining segment, Corporate & Other, brought in $418.00K.
Compared with fiscal 2025, Crude Oil Logistics grew fastest, up 19.9% to $1.05B, while Liquids Logistics fell the most, down 31.2% to $1.26B. From fiscal 2023 to 2026, combined revenue from these segments fell from $5.68B to $3.16B, a compound annual decline of 17.8%. Liquids Logistics' share of the total fell from 44.3% to 40.0%.
Guarantor Subsidiaries was NGL Energy Partners’s largest revenue line in fiscal 2019, bringing in $23.99B of $24.02B (100%).
| Consolidated Entities | FY 2016 | FY 2017 | FY 2018 | FY 2019 |
|---|---|---|---|---|
| Guarantor Subsidiaries | $11.59B | $12.69B | $6.94B | $23.99B |
| Non-Guarantor Subsidiaries | $182.18M | $19.64M | $19.95M | $27.54M |
| Total | $11.78B | $12.71B | $6.96B | $24.02B |
NGL Energy Partners brought in $24.02B from its two revenue lines in fiscal 2019, the year ended March 31, 2019. That was up 245.4% from $6.96B in fiscal 2018. Guarantor Subsidiaries was the largest at $23.99B (99.9%), ahead of Non-Guarantor Subsidiaries at $27.54M (0.1%).
From fiscal 2016 to 2019, combined revenue from these revenue lines grew from $11.78B to $24.02B, a compound annual growth rate of 26.8%. Guarantor Subsidiaries' share of the total rose from 98.5% to 99.9%.
NGL Energy Partners (NGL-PB) reports its revenue by product and service, by segment and by consolidated entities. In fiscal 2026, Product was its largest product and service line, bringing in $2.40B (75.9% of the total), followed by Service at $759.97M (24.1%).
Product was NGL Energy Partners' largest product and service line in fiscal 2026, bringing in $2.40B, or 75.9% of the $3.16B total across its two product and service lines.
Liquids Logistics was NGL Energy Partners' largest segment in fiscal 2026, bringing in $1.26B, or 40.0% of the $3.16B total across its four segments.
Guarantor Subsidiaries was NGL Energy Partners' largest revenue line in fiscal 2019, bringing in $23.99B, or 99.9% of the $24.02B total across its two revenue lines.
Service grew faster than Product in fiscal 2026, up 4.6% from $726.23M to $759.97M. Product fell 12.6% to $2.40B.
Every figure comes from NGL Energy Partners' annual financial filings, as reported. Each line keeps the name NGL Energy Partners gives it, and years follow its fiscal calendar.
NGL Energy Partners' revenue by product and service goes back to fiscal 2012, with figures through fiscal 2026. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.