Energy Transfer (ET) Operating Margin: History & Chart

Energy Transfer LP(ET)

Oil & Gas Midstream · Dallas, TX

$20.49+0.09 (+0.44%)

Delayed quote: Sep 23, 2026, 4:00 PM EDT

About Energy Transfer LP

Energy Transfer LP functions as a comprehensive provider of energy infrastructure and associated services. The company operates extensive natural gas networks, including approximately 11,600 miles of intrastate transportation pipelines and an additional 19,830 miles dedicated to interstate transport. Its natural gas storage capabilities encompass three facilities in Texas and another two spanning Texas and Oklahoma. Energy Transfer supplies natural gas to a diverse range of customers, such as electric utilities, independent power producers, local distribution companies, other marketing firms, and various industrial end-users. Beyond transportation, the firm manages substantial infrastructure for gathering, processing, treating, and conditioning natural gas and natural gas liquids (NGLs) across a broad geographic area that includes Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana. This infrastructure also covers natural gas gathering systems in Ohio, and integrated natural gas gathering, oil pipeline, and oil stabilization facilities situated in South Texas. Additionally, the company provides water transport and supply services to natural gas producers in Pennsylvania. In the NGL sector, Energy Transfer possesses approximately 5,215 miles of NGL pipelines, along with facilities for NGL and propane fractionation. Its NGL storage solutions include facilities with a working capacity of around 50 million barrels (MMBbls), supplemented by additional storage assets and terminals totaling about 17 MMBbls. The company is actively involved in the transportation, terminalling, acquisition, and marketing of crude oil, as well as the distribution of refined petroleum products like gasoline, middle distillates, and motor fuels. Complementing these primary operations, Energy Transfer offers specialized services such as natural gas compression, removal of carbon dioxide and hydrogen sulfide, natural gas cooling, dehydration, and British thermal unit (BTU) management. Furthermore, its operations extend to managing coal and other natural resource properties, selling standing timber, leasing coal-related infrastructure, collecting oil and gas royalties, and generating electrical power. Established in 1996 and headquartered in Dallas, Texas, the company officially adopted its current name, Energy Transfer LP, in October 2018, having previously been known as Energy Transfer Equity, L.P.

Dallas, TX

22,311 employees

energytransfer.com

Energy / Oil & Gas Midstream

Sector: Energy
Industry: Oil & Gas Midstream
CEO: Marshall S. McCrea

View full financials

ET Operating Margin Metrics

OPERATING MARGIN

10.60%

OPERATING MARGIN AVG TTM

11.02%

OPERATING MARGIN AVG 3Y

10.83%

OPERATING MARGIN AVG 5Y

10.30%

OPERATING MARGIN AVG 10Y

10.36%

OPERATING MARGIN AVG 15Y

9.15%

OPERATING MARGIN AVG 20Y

10.14%

CURRENT VS TTM AVG

-3.85%

CURRENT VS 3Y AVG

-2.11%

CURRENT VS 5Y AVG

+2.95%

CURRENT VS 10Y AVG

+2.31%

CURRENT VS 15Y AVG

+15.80%

CURRENT VS 20Y AVG

+4.52%

SECTOR MEDIAN · ENERGY

18.52%

median of 50 covered companies

CURRENT VS SECTOR MEDIAN

-42.75%

vs the sector median at left

NAME	MARKET CAP	OPERATING MARGIN	TTM	3Y	5Y
Energy Transfer LP (ET)	$70.51B	10.60%	11.02%	10.83%	10.30%
Kinder Morgan, Inc. (KMI)vs ›	$69.85B	29.04%	28.73%	26.70%	27.54%
EOG Resources, Inc. (EOG)vs ›	$75.55B	39.07%	34.86%	36.23%	28.41%
Slb N.V. (SLB)vs ›	$76.98B	13.40%	16.36%	16.02%	13.86%
TC Energy Corporation (TRP)vs ›	$62.67B	46.09%	43.13%	42.95%	43.43%
Eni S.p.A. (E)vs ›	$79.44B	4.94%	8.46%	10.75%	10.27%
Suncor Energy Inc. (SU)vs ›	$80.27B	27.54%	32.16%	34.03%	30.70%
Targa Resources Corp. (TRGP)vs ›	$60.75B	23.13%	18.91%	15.82%	14.84%
Enterprise Products Partners L.P. (EPD)vs ›	$81.28B	12.97%	13.09%	13.00%	14.24%
MPLX Lp (MPLX)vs ›	$59.68B	42.91%	44.40%	45.59%	37.76%

NAME

MARKET CAP

OPERATING MARGIN

TTM

Energy Transfer LP (ET)

$70.51B

10.60%

11.02%

10.83%

10.30%

Kinder Morgan, Inc. (KMI)vs ›

$69.85B

29.04%

28.73%

26.70%

27.54%

EOG Resources, Inc. (EOG)vs ›

$75.55B

39.07%

34.86%

36.23%

28.41%

Slb N.V. (SLB)vs ›

$76.98B

13.40%

16.36%

16.02%

13.86%

TC Energy Corporation (TRP)vs ›

$62.67B

46.09%

43.13%

42.95%

43.43%

Eni S.p.A. (E)vs ›

$79.44B

4.94%

8.46%

10.75%

10.27%

Suncor Energy Inc. (SU)vs ›

$80.27B

27.54%

32.16%

34.03%

30.70%

Targa Resources Corp. (TRGP)vs ›

$60.75B

23.13%

18.91%

15.82%

14.84%

Enterprise Products Partners L.P. (EPD)vs ›

$81.28B

12.97%

13.09%

13.00%

14.24%

MPLX Lp (MPLX)vs ›

$59.68B

42.91%

44.40%

45.59%

37.76%

Operating Margin FAQ

What is the operating margin for Energy Transfer LP (ET)?

The operating margin for ET stock is 10.60%.

Is Energy Transfer LP's operating margin high or low?

The operating margin of 10.60% is in line with its 5-year average of 10.30%, around the middle of its 5-year range (8.14%–12.62%).

What is the TTM average operating margin for Energy Transfer LP (ET)?

The TTM average operating margin for ET stock is 11.02%.

What is the 3Y average operating margin for Energy Transfer LP (ET)?

The 3Y average operating margin for ET stock is 10.83%.

What is the 5Y average operating margin for Energy Transfer LP (ET)?

The 5Y average operating margin for ET stock is 10.30%.

What is the 10Y average operating margin for Energy Transfer LP (ET)?

The 10Y average operating margin for ET stock is 10.36%.

What is the 15Y average operating margin for Energy Transfer LP (ET)?

The 15Y average operating margin for ET stock is 9.15%.

What is the 20Y average operating margin for Energy Transfer LP (ET)?

The 20Y average operating margin for ET stock is 10.14%.

DATE	OPERATING MARGIN
2026-06-30	10.41%
2026-03-31	10.74%
2025-12-31	10.58%
2025-09-30	10.78%
2025-06-30	12.62%
2025-03-31	11.85%
2024-12-31	11.66%
2024-09-30	10.50%
2024-06-30	11.09%
2024-03-31	11.00%
2023-12-31	10.54%
2023-09-30	10.77%
2023-06-30	10.02%
2023-03-31	10.86%
2022-12-31	8.81%
2022-09-30	8.60%
2022-06-30	8.14%
2022-03-31	9.01%
2021-12-31	9.05%
2021-09-30	8.62%
2021-06-30	10.58%
2021-03-31	23.94%
2020-12-31	13.34%
2020-09-30	2.45%
2020-06-30	18.21%
2020-03-31	0.52%
2019-12-31	12.40%
2019-09-30	13.75%
2019-06-30	13.11%
2019-03-31	14.21%
2018-12-31	10.45%
2018-09-30	11.73%
2018-06-30	7.98%
2018-03-31	9.26%
2017-12-31	2.49%
2017-09-30	9.83%
2017-06-30	8.32%
2017-03-31	6.73%
2016-12-31	-6.72%
2016-09-30	6.68%
2016-06-30	8.62%
2016-03-31	8.79%
2015-12-31	2.47%
2015-09-30	6.12%
2015-06-30	7.73%
2015-03-31	5.94%
2014-12-31	1.22%
2014-09-30	5.48%
2014-06-30	5.47%
2014-03-31	5.43%
2013-12-31	-1.21%
2013-09-30	4.24%
2013-06-30	5.34%
2013-03-31	4.75%
2012-12-31	3.82%
2012-09-30	16.54%
2012-06-30	19.16%
2012-03-31	10.81%
2011-12-31	15.61%
2011-09-30	12.87%
2011-06-30	13.19%
2011-03-31	18.31%
2010-12-31	17.82%
2010-09-30	12.73%
2010-06-30	13.11%
2010-03-31	18.11%
2009-12-31	24.29%
2009-09-30	15.36%
2009-06-30	18.67%
2009-03-31	21.85%
2008-12-31	14.08%
2008-09-30	11.62%
2008-06-30	8.36%
2008-03-31	13.94%
2007-11-30	13.35%
2007-08-31	10.28%
2007-05-31	10.92%
2007-02-28	10.92%
2006-11-30	7.42%
2006-08-31	4.36%
2006-05-31	8.12%
2006-02-28	9.11%
2005-11-30	6.95%
2005-08-31	3.44%
2005-05-31	3.71%
2005-02-28	8.14%

DATE

OPERATING MARGIN

2026-06-30

10.41%

2026-03-31

10.74%

2025-12-31

10.58%

2025-09-30

10.78%

2025-06-30

12.62%

2025-03-31

11.85%

2024-12-31

11.66%

2024-09-30

10.50%

2024-06-30

11.09%

2024-03-31

11.00%

2023-12-31

10.54%

2023-09-30

10.77%

2023-06-30

10.02%

2023-03-31

10.86%

2022-12-31

8.81%

2022-09-30

8.60%

2022-06-30

8.14%

2022-03-31

9.01%

2021-12-31

9.05%

2021-09-30

8.62%

2021-06-30

10.58%

2021-03-31

23.94%

2020-12-31

13.34%

2020-09-30

2.45%

2020-06-30

18.21%

2020-03-31

0.52%

2019-12-31

12.40%

2019-09-30

13.75%

2019-06-30

13.11%

2019-03-31

14.21%

2018-12-31

10.45%

2018-09-30

11.73%

2018-06-30

7.98%

2018-03-31

9.26%

2017-12-31

2.49%

2017-09-30

9.83%

2017-06-30

8.32%

2017-03-31

6.73%

2016-12-31

-6.72%

2016-09-30

6.68%

2016-06-30

8.62%

2016-03-31

8.79%

2015-12-31

2.47%

2015-09-30

6.12%

2015-06-30

7.73%

2015-03-31

5.94%

2014-12-31

1.22%

2014-09-30

5.48%

2014-06-30

5.47%

2014-03-31

5.43%

2013-12-31

-1.21%

2013-09-30

4.24%

2013-06-30

5.34%

2013-03-31

4.75%

2012-12-31

3.82%

2012-09-30

16.54%

2012-06-30

19.16%

2012-03-31

10.81%

2011-12-31

15.61%

2011-09-30

12.87%

2011-06-30

13.19%

2011-03-31

18.31%

2010-12-31

17.82%

2010-09-30

12.73%

2010-06-30

13.11%

2010-03-31

18.11%

2009-12-31

24.29%

2009-09-30

15.36%

2009-06-30

18.67%

2009-03-31

21.85%

2008-12-31

14.08%

2008-09-30

11.62%

2008-06-30

8.36%

2008-03-31

13.94%

2007-11-30

13.35%

2007-08-31

10.28%

2007-05-31

10.92%

2007-02-28

10.92%

2006-11-30

7.42%

2006-08-31

4.36%

2006-05-31

8.12%

2006-02-28

9.11%

2005-11-30

6.95%

2005-08-31

3.44%

2005-05-31

3.71%

2005-02-28

8.14%

Operating Margin: 10.60%

ET Operating Margin

ET Average Operating Margin Chart

ET Current vs Average Operating Margin Chart

ET Operating Margin Metrics

ET Competitors' Operating Margin

Operating Efficiency

Operating Margin Formula & Definition

Operating Margin FAQ

ET Operating Margin History

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