Energy Transfer (ET) Financials

$17.70 -0.06 (-0.31%)

As of 10:56 AM Eastern

Annual Income Statements for Energy Transfer

This table shows Energy Transfer's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	4,398	3,472	4,334	5,179	-648	3,518	1,749	954	995	1,189
Consolidated Net Income / (Loss)	6,565	5,294	5,868	6,687	140	4,825	3,420	2,366	0.00	1,061
Net Income / (Loss) Continuing Operations	6,565	5,294	5,868	6,402	140	59,038	3,685	2,543	462	1,023
Total Pre-Tax Income	7,106	5,597	6,072	6,871	377	59,233	3,689	710	204	900
Total Operating Income	9,138	8,295	7,738	8,792	2,980	7,203	5,403	2,721	1,851	2,287
Total Gross Profit	20,696	18,045	17,644	17,022	13,467	68,625	12,484	9,557	8,099	7,428
Total Revenue	82,671	78,586	89,876	67,417	38,954	108,426	54,087	40,523	31,792	36,096
Operating Revenue	82,671	78,586	89,876	67,417	38,954	108,426	54,087	40,523	31,792	31,505
Total Cost of Revenue	61,975	60,541	72,232	50,395	25,487	39,801	41,603	30,966	23,693	28,668
Operating Cost of Revenue	61,975	60,541	72,232	50,395	25,487	39,801	41,603	30,966	23,693	28,668
Total Operating Expenses	10,972	10,377	9,906	8,230	10,487	7,209	7,081	6,836	6,248	5,141
Selling, General & Admin Expense	6,341	5,353	5,356	4,392	3,929	3,988	3,791	3,243	2,992	2,851
Depreciation Expense	5,165	4,385	4,164	3,817	3,678	3,147	2,859	2,554	2,216	1,951
Impairment Charge	52	12	386	21	2,880	74	431	1,039	1,040	339
Other Special Charges / (Income)	-586	627	0.00	0.00	-	-	-	-	-	-
Total Other Income / (Expense), net	-2,618	-2,071	-1,666	-2,206	-2,603	-2,183	-1,714	-2,011	-1,647	-1,387
Interest Expense	3,137	2,576	2,306	2,590	2,402	2,349	2,167	2,011	1,804	1,665
Interest & Investment Income	379	383	257	246	-10	302	344	-169	-38	276
Other Income / (Expense), net	140	122	383	138	-191	-136	109	169	195	2.00
Income Tax Expense	541	303	204	184	237	195	4.00	-1,833	-258	-123
Preferred Stock Dividends Declared	54	0.00	0.00	-	-	0.00	-	-	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	1,751	1,359	1,112	1,217	788	1,307	1,671	1,412	-995	-128
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	362	463	422	-	-	-	-	-	-	-
Basic Earnings per Share	$1.29	$1.10	$1.40	$1.89	-	-	$1.20	$0.85	$0.94	$1.11
Weighted Average Basic Shares Outstanding	3.43B	3.37B	3.09B	3.08B	2.70B	2.69B	1.21	1.15B	1.08B	1.06B
Diluted Earnings per Share	$1.28	$1.09	$1.40	$1.89	-	-	$2.39	$0.83	$0.92	$1.11
Weighted Average Diluted Shares Outstanding	3.43B	3.37B	3.09B	3.08B	2.70B	2.69B	1.46B	1.15B	1.08B	1.06B
Weighted Average Basic & Diluted Shares Outstanding	3.43B	3.37B	3.09B	3.08B	2.70B	2.69B	1.46B	1.15B	1.08B	1.06B
Cash Dividends to Common per Share	$1.29	$1.25	$1.00	$0.63	$0.92	$1.22	$1.22	$1.17	$1.14	-

This table shows Energy Transfer's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	1,010	1,115	1,182	1,091	1,204	466	797	1,005	4,907	1,006
Consolidated Net Income / (Loss)	1,447	1,434	1,992	1,692	1,567	1,047	1,233	1,447	1,437	1,322
Net Income / (Loss) Continuing Operations	1,447	1,434	1,992	1,692	1,567	1,047	1,233	1,447	5,625	1,322
Total Pre-Tax Income	1,583	1,523	2,219	1,781	1,614	1,124	1,341	1,518	5,670	1,404
Total Operating Income	2,279	2,181	2,298	2,380	2,165	2,233	1,835	2,062	1,806	1,973
Total Gross Profit	5,384	5,160	5,120	5,032	4,752	4,680	4,228	4,385	8,791	4,423
Total Revenue	19,541	20,772	20,729	21,629	20,532	20,739	18,320	18,995	40,992	22,939
Operating Revenue	19,541	20,772	20,729	21,629	20,532	20,739	18,320	18,995	-	22,939
Total Cost of Revenue	14,157	15,612	15,609	16,597	15,780	16,059	14,092	14,610	32,201	18,516
Operating Cost of Revenue	14,157	15,612	15,609	16,597	15,780	16,059	14,092	14,610	-	18,516
Total Operating Expenses	3,117	2,979	2,224	2,652	2,589	3,072	2,393	2,323	2,932	2,450
Selling, General & Admin Expense	1,729	1,655	1,559	1,398	1,429	1,339	1,322	1,263	1,572	1,334
Depreciation Expense	1,374	1,324	1,213	1,254	1,158	1,107	1,061	1,059	1,060	1,030
Impairment Charge	2.00	0.00	50	0.00	-	1.00	10	1.00	-	86
Total Other Income / (Expense), net	-684	-658	-677	-599	-549	-484	-494	-544	-189	-569
Interest Expense	808	828	768	733	684	632	641	619	592	577
Interest & Investment Income	94	102	85	98	97	103	95	88	71	68
Other Income / (Expense), net	30	68	6.00	36	38	45	52	-13	-	-60
Income Tax Expense	136	89	227	89	47	77	108	71	45	82
Preferred Stock Dividends Declared	-129	0.00	33	150	-109	0.00	0.00	109	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	370	251	678	452	240	463	322	334	295	316
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	196	68	99	-1.00	232	118	114	-1.00	-	-
Basic Earnings per Share	$0.29	$0.33	$0.35	$0.32	$0.38	$0.15	$0.25	$0.32	$0.33	$0.29
Weighted Average Basic Shares Outstanding	3.43B	3.42B	3.42B	3.37B	3.37B	3.15B	3.14B	3.10B	3.09B	3.09B
Diluted Earnings per Share	$0.29	$0.32	$0.35	$0.32	$0.37	$0.15	$0.25	$0.32	$0.35	$0.29
Weighted Average Diluted Shares Outstanding	3.43B	3.42B	3.42B	3.37B	3.37B	3.15B	3.14B	3.10B	3.09B	3.09B
Weighted Average Basic & Diluted Shares Outstanding	3.43B	3.42B	3.42B	3.37B	3.37B	3.15B	3.14B	3.10B	3.09B	3.09B

This table details how cash moves in and out of Energy Transfer's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	151	-96	-79	-31	76	-128	83	-131	-118	-254
Net Cash From Operating Activities	11,506	9,555	9,051	11,162	7,361	8,056	7,506	4,429	3,322	2,979
Net Cash From Continuing Operating Activities	11,506	9,555	9,051	11,162	7,361	8,056	7,506	4,429	3,322	2,979
Net Income / (Loss) Continuing Operations	6,565	5,294	5,868	6,687	140	4,825	3,685	2,543	462	1,023
Consolidated Net Income / (Loss)	6,565	5,294	5,868	6,687	140	4,825	3,420	2,366	0.00	1,061
Depreciation Expense	5,165	4,385	4,164	3,817	3,678	3,147	2,859	2,554	2,216	1,951
Non-Cash Adjustments To Reconcile Net Income	-304	124	334	2.00	3,286	258	735	1,395	1,000	659
Changes in Operating Assets and Liabilities, net	80	-248	-1,315	656	257	-174	227	-2,063	-356	-633
Net Cash From Investing Activities	-5,904	-4,325	-4,022	-2,775	-4,898	-6,934	-7,075	-5,046	-8,982	-9,735
Net Cash From Continuing Investing Activities	-5,904	-4,325	-4,022	-2,775	-4,898	-6,934	-7,075	-5,606	-6,846	-9,735
Purchase of Property, Plant & Equipment	-4,164	-3,134	-3,381	-2,822	-5,130	-5,960	-7,407	-8,444	-7,771	-9,073
Acquisitions	-2,732	-1,329	-1,141	-205	0.00	-794	-429	-583	-1,398	-906
Purchase of Investments	-206	-6.00	0.00	-4.00	-38	-	-	-	-	-
Divestitures	1,038	38	380	45	19	54	548	3,526	35	14
Sale and/or Maturity of Investments	75	63	62	167	187	-425	69	135	135	-
Other Investing Activities, net	85	43	58	44	64	191	144	-240	17	230
Net Cash From Financing Activities	-5,451	-5,326	-5,108	-8,418	-2,387	-1,250	-3,082	953	5,927	6,785
Net Cash From Continuing Financing Activities	-5,451	-5,326	-5,108	-8,418	-2,387	-1,250	-3,082	953	5,927	6,785
Repayment of Debt	-30,305	-31,461	-29,708	-27,332	-24,192	-20,232	-29,285	-31,654	-19,131	-19,911
Repurchase of Preferred Equity	-3,466	0.00	0.00	-	-	-	-	-53	0.00	-
Payment of Dividends	-6,468	-5,998	-4,643	-3,208	-4,280	-4,356	-4,176	-2,757	-3,552	-2,584
Issuance of Debt	34,150	32,130	28,838	21,264	24,505	22,583	29,001	31,614	26,051	26,455
Issuance of Common Equity	638	3.00	405	-	-	-	-	568	0.00	0.00

This table details how cash moves in and out of Energy Transfer's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	13	-351	-1,296	1,785	-353	184	-	73	-69	-27
Net Cash From Operating Activities	2,590	2,874	2,270	3,772	1,296	2,373	2,536	3,350	1,338	2,989
Net Cash From Continuing Operating Activities	2,590	2,874	2,270	3,772	1,296	2,373	2,536	3,350	1,338	2,989
Net Income / (Loss) Continuing Operations	1,447	1,434	1,992	1,692	1,567	1,047	1,233	1,447	1,437	1,322
Consolidated Net Income / (Loss)	1,447	1,434	1,992	1,692	1,567	1,047	1,233	1,447	1,437	1,322
Depreciation Expense	1,374	1,324	1,213	1,254	1,158	1,107	1,061	1,059	1,060	1,030
Non-Cash Adjustments To Reconcile Net Income	44	236	-470	-114	188	-129	75	-10	102	67
Changes in Operating Assets and Liabilities, net	-275	-120	-465	940	-1,617	348	167	854	-1,261	570
Net Cash From Investing Activities	-1,469	-3,284	45	-1,196	-964	-670	-1,888	-803	-945	-1,123
Net Cash From Continuing Investing Activities	-1,469	-3,284	45	-1,196	-964	-670	-1,888	-803	-945	-1,123
Purchase of Property, Plant & Equipment	-1,472	-1,086	-811	-795	-704	-701	-876	-853	-888	-1,035
Acquisitions	-46	-2,198	-39	-449	-288	-	-1,041	0.00	-79	-473
Divestitures	21	-	-	-	38	-	-	-	78	-
Sale and/or Maturity of Investments	15	-18	55	23	18	18	-3.00	30	-4.00	20
Other Investing Activities, net	227	13	-178	23	9.00	5.00	13	16	8.00	15
Net Cash From Financing Activities	-1,108	59	-3,611	-791	-685	-1,519	-648	-2,474	-462	-1,893
Net Cash From Continuing Financing Activities	-1,108	59	-3,611	-791	-685	-1,519	-648	-2,474	-462	-1,893
Repayment of Debt	-7,069	-4,764	-11,406	-7,066	-8,356	-7,549	-6,951	-8,605	-8,590	-8,290
Payment of Dividends	-1,607	-1,575	-1,715	-1,571	-1,547	-1,470	-1,527	-1,454	-1,311	-1,212
Issuance of Debt	7,567	6,398	12,044	8,141	9,218	7,500	7,830	7,582	9,438	7,602
Issuance of Common Equity	1.00	-	-	637	-	-	-	3.00	1.00	7.00

This table presents Energy Transfer's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	125,380	113,698	105,643	105,963	95,144	98,973	88,246	86,246	78,925	71,189
Total Current Assets	14,202	12,433	12,081	10,537	6,317	7,464	6,750	10,683	6,899	5,410
Cash & Equivalents	312	161	257	336	367	291	419	336	467	606
Short-Term Investments	9.00	66	10	10	9.00	23	111	24	21	46
Accounts Receivable	10,278	9,148	8,559	7,708	3,954	5,197	4,120	4,557	3,604	2,519
Inventories, net	3,070	2,478	2,461	2,014	1,739	1,532	1,677	2,022	2,055	1,636
Current Deferred & Refundable Income Taxes	56	67	68	32	35	146	73	136	128	-
Other Current Assets	477	513	726	437	213	275	350	295	447	603
Plant, Property, & Equipment, net	95,212	85,351	80,311	81,607	75,107	74,193	66,963	61,088	53,578	48,683
Plant, Property & Equipment, gross	129,242	114,932	105,996	103,991	94,115	89,790	79,776	71,177	61,562	54,979
Accumulated Depreciation	34,030	29,581	25,685	22,384	19,008	15,597	12,813	10,089	7,984	6,296
Total Noncurrent Assets	15,966	15,914	13,251	13,819	13,720	17,316	14,533	14,475	18,448	17,096
Long-Term Investments	3,266	3,097	2,893	2,947	3,060	3,460	2,642	2,705	3,040	3,462
Goodwill	3,903	4,019	2,566	2,533	2,391	5,167	4,885	4,768	5,670	7,473
Intangible Assets	5,971	6,239	5,415	5,856	5,746	6,154	6,000	6,116	5,512	5,431
Other Noncurrent Operating Assets	2,826	2,559	2,377	2,483	2,523	2,535	1,006	886	815	730
Total Liabilities & Shareholders' Equity	125,380	113,698	105,643	105,963	95,144	98,973	88,246	86,246	78,925	71,189
Total Liabilities	78,946	68,981	64,491	65,835	62,994	65,035	56,897	56,266	56,461	47,558
Total Current Liabilities	12,656	11,277	10,368	10,835	5,923	7,724	9,310	7,897	7,277	4,910
Short-Term Debt	8.00	1,008	2.00	680	21	26	2,655	413	1,194	131
Accounts Payable	8,325	6,684	6,952	6,834	2,836	4,149	3,552	4,716	3,544	2,302
Other Current Liabilities	4,323	3,585	3,397	3,321	3,066	3,549	3,103	2,693	2,539	2,477
Total Noncurrent Liabilities	66,290	57,704	54,123	55,000	57,071	57,311	47,587	48,369	49,184	42,648
Long-Term Debt	59,752	51,380	48,260	49,022	51,417	51,028	43,373	43,671	42,858	36,837
Noncurrent Deferred & Payable Income Tax Liabilities	4,190	3,931	3,701	3,648	3,428	3,208	2,926	3,315	5,112	4,590
Other Noncurrent Operating Liabilities	2,348	2,393	2,162	2,330	2,226	3,075	1,288	1,383	1,166	1,221
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	417	778	493	783	762	-	499	-	33	33
Total Equity & Noncontrolling Interests	46,017	43,939	40,659	39,345	31,388	33,938	30,850	29,980	22,431	23,598
Total Preferred & Common Equity	35,118	36,682	33,025	31,300	18,529	21,920	20,559	-1,196	-1,694	-932
Total Common Equity	35,118	36,682	33,025	31,300	18,529	21,920	20,559	-1,196	-1,694	-932
Common Stock	35,045	36,654	33,009	31,277	18,523	21,931	20,601	-1,196	-1,694	-932
Accumulated Other Comprehensive Income / (Loss)	73	28	16	23	6.00	-11	-42	0.00	-	-
Noncontrolling Interest	10,899	7,257	7,634	8,045	12,859	12,018	10,291	31,176	24,125	24,530

This table presents Energy Transfer's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	124,429	121,339	115,789	107,571	105,132	104,521	105,735
Total Current Assets	13,336	13,406	15,018	13,423	10,598	11,370	12,159
Cash & Equivalents	299	650	1,946	514	330	330	326
Accounts Receivable	9,976	9,647	9,762	9,713	7,383	8,377	8,679
Inventories, net	2,502	2,624	2,267	2,590	2,271	2,047	2,490
Current Deferred & Refundable Income Taxes	58	33	58	84	82	64	65
Other Current Assets	501	452	474	522	532	552	599
Plant, Property, & Equipment, net	95,012	91,888	85,172	80,873	81,149	80,004	80,261
Plant, Property & Equipment, gross	127,804	123,481	115,631	109,411	108,718	106,643	105,040
Accumulated Depreciation	32,792	31,593	30,459	28,538	27,569	26,639	24,779
Total Noncurrent Assets	16,081	16,045	15,599	13,275	13,385	13,147	13,315
Long-Term Investments	3,268	3,236	3,093	2,993	3,007	2,861	2,869
Goodwill	3,910	3,910	3,887	2,564	2,564	2,566	2,553
Intangible Assets	6,102	6,202	6,111	5,204	5,301	5,322	5,505
Other Noncurrent Operating Assets	2,801	2,697	2,508	2,514	2,513	2,398	2,388
Total Liabilities & Shareholders' Equity	124,429	121,339	115,789	107,571	105,132	104,521	105,735
Total Liabilities	77,831	75,450	71,323	66,512	63,675	63,358	64,674
Total Current Liabilities	12,371	11,709	12,719	12,755	13,013	10,162	11,243
Short-Term Debt	263	257	1,181	1,006	3,459	2.00	2.00
Accounts Payable	7,327	7,467	7,535	7,997	6,179	6,943	7,523
Other Current Liabilities	4,726	3,974	3,844	3,745	3,375	3,217	3,718
Total Noncurrent Liabilities	65,460	63,741	58,604	53,757	50,662	53,196	53,431
Long-Term Debt	58,995	57,359	52,295	47,075	44,672	47,229	47,413
Noncurrent Deferred & Payable Income Tax Liabilities	4,110	4,001	4,009	3,891	3,839	3,759	3,661
Other Noncurrent Operating Liabilities	2,355	2,381	2,300	2,791	2,151	2,208	2,357
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	418	417	673	498	495	494	493
Total Equity & Noncontrolling Interests	46,180	45,472	43,793	40,561	40,962	40,669	40,568
Total Preferred & Common Equity	35,240	34,312	35,933	33,124	33,551	33,148	32,831
Total Common Equity	35,240	34,312	35,933	33,124	33,551	33,148	32,831
Common Stock	35,198	34,264	35,892	33,095	33,527	33,135	32,799
Accumulated Other Comprehensive Income / (Loss)	42	48	41	29	24	13	32
Noncontrolling Interest	10,940	11,160	7,860	7,437	7,411	7,521	7,737

This table displays calculated financial ratios and metrics derived from Energy Transfer's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.20%	-12.56%	33.31%	73.07%	-64.07%	100.47%	33.47%	27.46%	-11.92%	-35.19%
EBITDA Growth	12.82%	4.21%	-3.62%	97.11%	-36.68%	22.02%	53.77%	27.73%	1.02%	6.14%
EBIT Growth	10.23%	3.64%	-9.06%	220.19%	-60.53%	28.21%	90.73%	41.25%	-10.62%	-0.56%
NOPAT Growth	7.60%	4.92%	-12.60%	673.21%	-84.59%	33.02%	-44.62%	132.49%	61.26%	40.69%
Net Income Growth	24.01%	-9.78%	-12.25%	4,676.43%	-97.10%	41.08%	44.55%	0.00%	-100.00%	-5.61%
EPS Growth	17.43%	-22.14%	-25.93%	0.00%	0.00%	0.00%	187.95%	-9.78%	-17.12%	94.74%
Operating Cash Flow Growth	20.42%	5.57%	-18.91%	51.64%	-8.63%	7.33%	69.47%	33.32%	11.51%	-6.17%
Free Cash Flow Firm Growth	-214.22%	-95.66%	256.61%	-0.05%	1,206.55%	115.88%	-173.06%	16.58%	121.79%	51.08%
Invested Capital Growth	9.41%	8.71%	-0.31%	7.97%	-1.31%	9.45%	9.51%	13.98%	5.25%	17.08%
Revenue Q/Q Growth	-1.18%	-20.66%	33.07%	14.67%	-59.78%	100.54%	4.08%	6.50%	20.79%	-21.65%
EBITDA Q/Q Growth	2.28%	4.74%	4.96%	2.48%	-3.29%	4.96%	14.94%	8.68%	2.18%	-1.63%
EBIT Q/Q Growth	1.16%	6.06%	6.56%	3.37%	-11.96%	6.46%	22.57%	15.05%	-5.06%	-0.99%
NOPAT Q/Q Growth	-0.12%	2.05%	5.38%	6.24%	-66.41%	7.25%	-28.66%	275.25%	-2.70%	21.06%
Net Income Q/Q Growth	-1.80%	2.52%	3.64%	6.33%	-77.35%	9.14%	-7.09%	495.97%	-100.00%	13.23%
EPS Q/Q Growth	-5.88%	1.87%	0.00%	0.00%	0.00%	0.00%	106.03%	-5.68%	-8.91%	16.84%
Operating Cash Flow Q/Q Growth	12.67%	-0.44%	-4.24%	-1.47%	-2.44%	-1.48%	18.88%	-1.82%	8.78%	5.86%
Free Cash Flow Firm Q/Q Growth	95.35%	-95.42%	1,318.08%	-78.06%	2,234.94%	-94.88%	3.30%	355.46%	165.66%	-8.98%
Invested Capital Q/Q Growth	0.26%	9.51%	1.16%	11.59%	0.96%	6.60%	2.01%	5.72%	-2.45%	3.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	25.03%	22.96%	19.63%	25.25%	34.57%	63.29%	23.08%	23.58%	25.48%	20.58%
EBITDA Margin	17.47%	16.29%	13.67%	18.91%	16.60%	9.42%	15.48%	13.43%	13.41%	11.69%
Operating Margin	11.05%	10.56%	8.61%	13.04%	7.65%	6.64%	9.99%	6.71%	5.82%	6.34%
EBIT Margin	11.22%	10.71%	9.04%	13.25%	7.16%	6.52%	10.19%	7.13%	6.44%	6.34%
Profit (Net Income) Margin	7.94%	6.74%	6.53%	9.92%	0.36%	4.45%	6.32%	5.84%	0.00%	2.94%
Tax Burden Percent	92.39%	94.59%	96.64%	97.32%	37.14%	8.15%	92.71%	333.24%	0.00%	117.89%
Interest Burden Percent	76.59%	66.50%	74.77%	76.94%	13.52%	838.16%	66.93%	24.57%	9.97%	39.32%
Effective Tax Rate	7.61%	5.41%	3.36%	2.68%	62.86%	0.33%	0.11%	-258.17%	-126.47%	-13.67%
Return on Invested Capital (ROIC)	8.60%	8.72%	8.65%	10.27%	1.37%	9.24%	7.60%	15.32%	7.23%	4.96%
ROIC Less NNEP Spread (ROIC-NNEP)	5.03%	3.30%	5.14%	6.31%	-0.66%	4.01%	2.70%	-4.42%	-4.77%	-0.27%
Return on Net Nonoperating Assets (RNNOA)	5.81%	3.62%	5.78%	8.24%	-0.95%	5.54%	3.55%	-6.30%	-7.23%	-0.35%
Return on Equity (ROE)	14.40%	12.33%	14.44%	18.50%	0.42%	14.78%	11.15%	9.02%	0.00%	4.62%
Cash Return on Invested Capital (CROIC)	-0.39%	0.37%	8.96%	2.61%	2.69%	0.21%	-1.47%	2.25%	2.12%	-10.77%
Operating Return on Assets (OROA)	7.76%	7.67%	7.68%	8.88%	2.87%	7.55%	6.32%	3.50%	2.73%	3.38%
Return on Assets (ROA)	5.49%	4.83%	5.55%	6.65%	0.14%	5.15%	3.92%	2.86%	0.00%	1.57%
Return on Common Equity (ROCE)	11.35%	10.01%	11.43%	12.76%	0.26%	9.62%	3.52%	-0.50%	0.00%	-0.03%
Return on Equity Simple (ROE_SIMPLE)	18.69%	14.43%	17.77%	21.36%	0.76%	22.01%	16.64%	-197.83%	0.00%	-113.84%
Net Operating Profit after Tax (NOPAT)	8,442	7,846	7,478	8,557	1,107	7,179	5,397	9,746	4,192	2,600
NOPAT Margin	10.21%	9.98%	8.32%	12.69%	2.84%	6.62%	9.98%	24.05%	13.19%	7.20%
Net Nonoperating Expense Percent (NNEP)	3.57%	5.42%	3.52%	3.96%	2.03%	5.22%	4.90%	19.74%	12.00%	5.24%
Return On Investment Capital (ROIC_SIMPLE)	7.98%	8.15%	8.41%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	74.97%	77.04%	80.37%	74.75%	65.43%	36.71%	76.92%	76.42%	74.53%	79.42%
SG&A Expenses to Revenue	7.67%	6.81%	5.96%	6.51%	10.09%	3.68%	7.01%	8.00%	9.41%	7.90%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.27%	13.20%	11.02%	12.21%	26.92%	6.65%	13.09%	16.87%	19.65%	14.24%
Earnings before Interest and Taxes (EBIT)	9,278	8,417	8,121	8,930	2,789	7,067	5,512	2,890	2,046	2,289
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14,443	12,802	12,285	12,747	6,467	10,214	8,371	5,444	4,262	4,219
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.88	1.15	0.92	0.67	0.69	1.06	0.58	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	2.62	1.60	1.21	0.91	1.23	2.18	1.23	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.80	0.54	0.34	0.31	0.33	0.21	0.22	0.28	0.35	0.20
Price to Earnings (P/E)	15.04	12.15	7.00	4.03	0.00	6.58	6.79	11.92	11.23	5.99
Dividend Yield	6.61%	9.86%	8.88%	9.00%	22.52%	14.18%	15.01%	11.64%	11.00%	11.74%
Earnings Yield	6.65%	8.23%	14.29%	24.79%	0.00%	15.20%	14.72%	8.39%	8.90%	16.70%
Enterprise Value to Invested Capital (EV/IC)	1.30	1.06	0.97	0.88	0.93	1.02	0.88	1.23	1.28	1.14
Enterprise Value to Revenue (EV/Rev)	1.62	1.26	0.93	1.13	1.91	0.76	1.21	2.06	2.39	1.79
Enterprise Value to EBITDA (EV/EBITDA)	9.25	7.76	6.80	5.97	11.51	8.07	7.83	15.35	17.80	15.30
Enterprise Value to EBIT (EV/EBIT)	14.40	11.80	10.29	8.53	26.69	11.67	11.89	28.92	37.08	28.19
Enterprise Value to NOPAT (EV/NOPAT)	15.83	12.66	11.17	8.90	67.26	11.48	12.14	8.57	18.10	24.83
Enterprise Value to Operating Cash Flow (EV/OCF)	11.61	10.39	9.23	6.82	10.11	10.23	8.73	18.87	22.84	21.66
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	295.56	10.79	35.06	34.26	495.82	0.00	58.32	61.73	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	1.17	1.17	1.24	1.60	1.50	1.47	1.47	1.96	1.56
Long-Term Debt to Equity	1.29	1.15	1.17	1.22	1.60	1.50	1.38	1.46	1.91	1.56
Financial Leverage	1.15	1.10	1.13	1.31	1.44	1.38	1.31	1.43	1.52	1.28
Leverage Ratio	2.62	2.55	2.60	2.78	2.94	2.87	2.85	3.15	3.26	2.95
Compound Leverage Factor	2.01	1.70	1.95	2.14	0.40	24.04	1.90	0.77	0.32	1.16
Debt to Total Capital	56.27%	53.95%	53.98%	55.33%	61.54%	60.07%	59.49%	59.52%	66.23%	61.00%
Short-Term Debt to Total Capital	0.01%	1.04%	0.00%	0.76%	0.03%	0.03%	3.43%	0.56%	1.80%	0.22%
Long-Term Debt to Total Capital	56.27%	52.91%	53.97%	54.57%	61.51%	60.04%	56.05%	58.96%	64.43%	60.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	10.66%	8.27%	9.09%	9.83%	16.30%	14.14%	13.94%	42.09%	36.32%	40.53%
Common Equity to Total Capital	33.07%	37.78%	36.93%	34.84%	22.17%	25.79%	26.57%	-1.61%	-2.55%	-1.54%
Debt to EBITDA	4.14	4.09	3.93	3.90	7.95	5.00	5.50	8.10	10.34	8.76
Net Debt to EBITDA	3.89	3.83	3.67	3.64	7.42	4.63	5.12	7.53	9.51	7.79
Long-Term Debt to EBITDA	4.14	4.01	3.93	3.85	7.95	5.00	5.18	8.02	10.06	8.73
Debt to NOPAT	7.08	6.68	6.45	5.81	46.48	7.11	8.53	4.52	10.51	14.22
Net Debt to NOPAT	6.65	6.25	6.03	5.42	43.38	6.59	7.94	4.21	9.67	12.64
Long-Term Debt to NOPAT	7.08	6.55	6.45	5.73	46.46	7.11	8.04	4.48	10.22	14.17
Altman Z-Score	1.42	1.31	1.41	1.10	0.63	1.54	0.91	0.74	0.60	0.71
Noncontrolling Interest Sharing Ratio	21.23%	18.82%	20.86%	31.06%	38.80%	34.94%	68.43%	105.51%	105.70%	100.58%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	1.10	1.17	0.97	1.07	0.97	0.73	1.35	0.95	1.10
Quick Ratio	0.84	0.83	0.85	0.74	0.73	0.71	0.50	0.62	0.56	0.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-384	336	7,744	2,172	2,173	166	-1,047	1,433	1,229	-5,640
Operating Cash Flow to CapEx	276.32%	304.88%	267.70%	395.54%	143.49%	135.17%	101.34%	52.45%	42.75%	32.83%
Free Cash Flow to Firm to Interest Expense	-0.12	0.13	3.36	0.84	0.90	0.07	-0.48	0.71	0.68	-3.39
Operating Cash Flow to Interest Expense	3.67	3.71	3.93	4.31	3.06	3.43	3.46	2.20	1.84	1.79
Operating Cash Flow Less CapEx to Interest Expense	2.34	2.49	2.46	3.22	0.93	0.89	0.05	-2.00	-2.47	-3.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.72	0.85	0.67	0.40	1.16	0.62	0.49	0.42	0.53
Accounts Receivable Turnover	8.51	8.88	11.05	11.56	8.51	23.27	12.47	9.93	10.38	12.17
Inventory Turnover	22.34	24.52	32.28	26.86	15.58	24.81	22.49	15.19	12.84	18.48
Fixed Asset Turnover	0.92	0.95	1.11	0.86	0.52	1.54	0.84	0.71	0.62	0.81
Accounts Payable Turnover	8.26	8.88	10.48	10.42	7.30	10.34	10.06	7.50	8.11	10.11
Days Sales Outstanding (DSO)	42.88	41.12	33.03	31.57	42.87	15.68	29.28	36.75	35.15	29.99
Days Inventory Outstanding (DIO)	16.34	14.89	11.31	13.59	23.42	14.71	16.23	24.03	28.43	19.75
Days Payable Outstanding (DPO)	44.20	41.11	34.83	35.02	50.02	35.31	36.27	48.68	45.03	36.10
Cash Conversion Cycle (CCC)	15.02	14.90	9.51	10.14	16.28	-4.92	9.24	12.10	18.55	13.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	102,607	93,781	86,271	86,537	80,152	81,218	74,205	67,761	59,448	56,485
Invested Capital Turnover	0.84	0.87	1.04	0.81	0.48	1.40	0.76	0.64	0.55	0.69
Increase / (Decrease) in Invested Capital	8,826	7,510	-266	6,385	-1,066	7,013	6,444	8,313	2,963	8,240
Enterprise Value (EV)	133,634	99,291	83,548	76,128	74,433	82,448	65,525	83,567	75,861	64,536
Market Capitalization	66,145	42,192	30,319	20,891	12,810	23,150	11,879	11,372	11,179	7,119
Book Value per Share	$10.26	$11.66	$10.69	$11.57	$6.87	$8.34	$7.86	($1.11)	($1.62)	($0.89)
Tangible Book Value per Share	$7.37	$8.40	$8.11	$8.47	$3.85	$4.03	$3.70	($11.19)	($12.30)	($13.24)
Total Capital	106,194	97,105	89,414	89,830	83,588	84,992	77,377	74,064	66,516	60,599
Total Debt	59,760	52,388	48,262	49,702	51,438	51,054	46,028	44,084	44,052	36,968
Total Long-Term Debt	59,752	51,380	48,260	49,022	51,417	51,028	43,373	43,671	42,858	36,837
Net Debt	56,173	49,064	45,102	46,409	48,002	47,280	42,856	41,019	40,524	32,854
Capital Expenditures (CapEx)	4,164	3,134	3,381	2,822	5,130	5,960	7,407	8,444	7,771	9,073
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,233	1,937	1,448	36	39	-548	-435	2,839	328	-21
Debt-free Net Working Capital (DFNWC)	1,554	2,164	1,715	382	415	-234	95	3,199	816	631
Net Working Capital (NWC)	1,546	1,156	1,713	-298	394	-260	-2,560	2,786	-378	500
Net Nonoperating Expense (NNE)	1,877	2,552	1,610	1,870	967	2,354	1,977	7,380	4,192	1,539
Net Nonoperating Obligations (NNO)	56,173	49,064	45,119	46,409	48,002	47,280	42,856	37,781	36,984	32,854
Total Depreciation and Amortization (D&A)	5,165	4,385	4,164	3,817	3,678	3,147	2,859	2,554	2,216	1,930
Debt-free, Cash-free Net Working Capital to Revenue	1.49%	2.46%	1.61%	0.05%	0.10%	-0.51%	-0.80%	7.01%	1.03%	-0.06%
Debt-free Net Working Capital to Revenue	1.88%	2.75%	1.91%	0.57%	1.07%	-0.22%	0.18%	7.89%	2.57%	1.75%
Net Working Capital to Revenue	1.87%	1.47%	1.91%	-0.44%	1.01%	-0.24%	-4.73%	6.88%	-1.19%	1.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.29	$1.10	$0.00	$0.00	($0.24)	$1.37	$1.16	$0.85	$0.94	$1.11
Adjusted Weighted Average Basic Shares Outstanding	3.43B	3.37B	3.09B	3.08B	0.00	2.69B	2.62B	1.08B	1.08B	1.04B
Adjusted Diluted Earnings per Share	$1.28	$1.09	$0.00	$0.00	($0.48)	$1.36	$1.15	$0.83	$0.92	$1.11
Adjusted Weighted Average Diluted Shares Outstanding	3.43B	3.37B	3.09B	3.08B	2.70B	2.69B	2.62B	1.08B	1.08B	1.04B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.43B	3.37B	3.09B	3.08B	2.70B	2.69B	2.62B	1.08B	1.08B	1.04B
Normalized Net Operating Profit after Tax (NOPAT)	7,949	8,450	7,851	8,577	4,102	7,253	5,828	2,632	2,024	1,838
Normalized NOPAT Margin	9.62%	10.75%	8.74%	12.72%	10.53%	6.69%	10.77%	6.50%	6.37%	5.09%
Pre Tax Income Margin	8.60%	7.12%	6.76%	10.19%	0.97%	54.63%	6.82%	1.75%	0.64%	2.49%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.96	3.27	3.52	3.45	1.16	3.01	2.54	1.44	1.13	1.37
NOPAT to Interest Expense	2.69	3.05	3.24	3.30	0.46	3.06	2.49	4.85	2.32	1.56
EBIT Less CapEx to Interest Expense	1.63	2.05	2.06	2.36	-0.97	0.47	-0.87	-2.76	-3.17	-4.07
NOPAT Less CapEx to Interest Expense	1.36	1.83	1.78	2.21	-1.68	0.52	-0.93	0.65	-1.98	-3.89
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	98.52%	113.30%	79.12%	47.97%	3,057.14%	90.28%	122.11%	116.53%	0.00%	243.54%
Augmented Payout Ratio	98.52%	113.30%	79.12%	48.44%	3,057.14%	90.80%	122.81%	116.53%	0.00%	343.83%

This table displays calculated financial ratios and metrics derived from Energy Transfer's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.83%	0.16%	13.15%	13.87%	-49.91%	-9.59%	-29.39%	0.00%	119.71%	37.66%
EBITDA Growth	9.58%	5.55%	19.30%	18.08%	17.27%	15.02%	-9.85%	8.14%	6.54%	21.91%
EBIT Growth	4.81%	-1.27%	22.10%	17.91%	21.98%	19.08%	-15.15%	11.00%	5.61%	30.05%
NOPAT Growth	-0.89%	-1.27%	22.27%	15.03%	17.32%	11.96%	-15.92%	52.11%	1.77%	40.26%
Net Income Growth	-7.66%	36.96%	61.56%	16.93%	9.05%	-20.80%	-23.98%	-2.69%	16.73%	45.76%
EPS Growth	-21.62%	113.33%	40.00%	0.00%	5.71%	-48.28%	-35.90%	-13.51%	25.00%	45.00%
Operating Cash Flow Growth	99.85%	21.11%	-10.49%	12.60%	-3.14%	-20.61%	7.73%	41.35%	-23.06%	32.08%
Free Cash Flow Firm Growth	-24.68%	-951.26%	-1,355.65%	-313.60%	-362.82%	129.30%	117.32%	141.77%	144.50%	-285.39%
Invested Capital Growth	9.41%	19.50%	15.51%	8.62%	8.71%	0.42%	0.92%	-0.49%	-0.31%	9.97%
Revenue Q/Q Growth	-5.93%	0.21%	-4.16%	5.34%	-1.00%	13.20%	-3.55%	-53.66%	78.70%	-11.59%
EBITDA Q/Q Growth	3.08%	1.59%	-4.17%	-8.82%	-0.71%	14.82%	-5.15%	8.44%	-2.62%	-10.00%
EBIT Q/Q Growth	2.67%	-2.39%	-4.64%	-15.73%	-3.29%	20.72%	-7.91%	13.46%	-5.59%	-13.98%
NOPAT Q/Q Growth	1.44%	-0.45%	-8.76%	7.51%	1.05%	23.28%	-14.16%	9.71%	-3.56%	-7.42%
Net Income Q/Q Growth	0.91%	-28.01%	17.73%	7.98%	49.67%	-15.09%	-14.79%	0.70%	8.70%	-18.50%
EPS Q/Q Growth	-9.38%	-8.57%	9.38%	-13.51%	146.67%	-40.00%	-21.88%	-8.57%	20.69%	-25.64%
Operating Cash Flow Q/Q Growth	-9.88%	26.61%	-39.82%	191.05%	-45.39%	-6.43%	-24.30%	150.37%	-55.24%	26.98%
Free Cash Flow Firm Q/Q Growth	53.98%	-29.47%	-122.45%	6.28%	-414.23%	90.97%	-62.16%	15.74%	135.03%	-12.87%
Invested Capital Q/Q Growth	0.26%	2.72%	7.65%	-1.33%	9.51%	-0.71%	1.23%	-1.24%	1.16%	-0.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.55%	24.84%	24.70%	23.27%	23.14%	22.57%	23.08%	23.09%	21.45%	19.28%
EBITDA Margin	18.85%	17.20%	16.97%	16.97%	16.37%	16.32%	16.09%	16.36%	6.99%	12.83%
Operating Margin	11.66%	10.50%	11.09%	11.00%	10.54%	10.77%	10.02%	10.86%	4.41%	8.60%
EBIT Margin	11.82%	10.83%	11.11%	11.17%	10.73%	10.98%	10.30%	10.79%	4.41%	8.34%
Profit (Net Income) Margin	7.40%	6.90%	9.61%	7.82%	7.63%	5.05%	6.73%	7.62%	3.51%	5.76%
Tax Burden Percent	91.41%	94.16%	89.77%	95.00%	97.09%	93.15%	91.95%	95.32%	25.34%	94.16%
Interest Burden Percent	68.56%	67.72%	96.31%	73.72%	73.26%	49.34%	71.07%	74.08%	313.95%	73.39%
Effective Tax Rate	8.59%	5.84%	10.23%	5.00%	2.91%	6.85%	8.05%	4.68%	0.79%	5.84%
Return on Invested Capital (ROIC)	8.98%	8.80%	8.95%	9.55%	8.94%	11.62%	10.86%	13.19%	4.55%	6.72%
ROIC Less NNEP Spread (ROIC-NNEP)	7.77%	7.56%	8.81%	8.32%	7.80%	9.30%	9.84%	12.02%	3.77%	5.48%
Return on Net Nonoperating Assets (RNNOA)	8.97%	8.66%	9.94%	8.95%	8.56%	10.05%	10.59%	13.03%	4.25%	6.20%
Return on Equity (ROE)	17.94%	17.46%	18.89%	18.50%	17.49%	21.68%	21.45%	26.22%	8.79%	12.92%
Cash Return on Invested Capital (CROIC)	-0.39%	-8.78%	-5.27%	0.89%	0.37%	8.58%	7.75%	9.54%	8.96%	-0.78%
Operating Return on Assets (OROA)	8.17%	7.81%	8.21%	8.24%	7.69%	10.20%	9.75%	10.99%	3.74%	5.56%
Return on Assets (ROA)	5.12%	4.98%	7.10%	5.77%	5.47%	4.69%	6.37%	7.76%	2.98%	3.85%
Return on Common Equity (ROCE)	14.13%	13.62%	14.68%	14.93%	14.20%	17.41%	17.15%	20.83%	6.96%	10.18%
Return on Equity Simple (ROE_SIMPLE)	0.00%	18.97%	18.36%	15.41%	0.00%	15.59%	16.21%	17.58%	0.00%	17.25%
Net Operating Profit after Tax (NOPAT)	2,083	2,054	2,063	2,261	2,102	2,080	1,687	1,966	1,792	1,858
NOPAT Margin	10.66%	9.89%	9.95%	10.45%	10.24%	10.03%	9.21%	10.35%	4.37%	8.10%
Net Nonoperating Expense Percent (NNEP)	1.21%	1.24%	0.14%	1.24%	1.14%	2.33%	1.02%	1.17%	0.78%	1.24%
Return On Investment Capital (ROIC_SIMPLE)	1.97%	-	-	-	2.18%	-	-	-	2.01%	-
Cost of Revenue to Revenue	72.45%	75.16%	75.30%	76.73%	76.86%	77.43%	76.92%	76.92%	78.55%	80.72%
SG&A Expenses to Revenue	8.85%	7.97%	7.52%	6.46%	6.96%	6.46%	7.22%	6.65%	3.83%	5.82%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.95%	14.34%	10.73%	12.26%	12.61%	14.81%	13.06%	12.23%	7.15%	10.68%
Earnings before Interest and Taxes (EBIT)	2,309	2,249	2,304	2,416	2,203	2,278	1,887	2,049	1,806	1,913
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,683	3,573	3,517	3,670	3,361	3,385	2,948	3,108	2,866	2,943
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.88	1.56	1.62	1.48	1.15	1.22	1.09	1.06	0.92	0.90
Price to Tangible Book Value (P/TBV)	2.62	2.18	2.29	2.04	1.60	1.60	1.42	1.39	1.21	1.20
Price to Revenue (P/Rev)	0.80	0.66	0.66	0.65	0.54	0.41	0.36	0.32	0.34	0.44
Price to Earnings (P/E)	15.04	11.98	14.09	14.91	12.15	5.65	4.73	4.27	7.00	84.45
Dividend Yield	6.61%	7.88%	7.74%	7.91%	9.86%	9.22%	9.54%	8.81%	8.88%	7.89%
Earnings Yield	6.65%	8.35%	7.10%	6.71%	8.23%	17.70%	21.12%	23.45%	14.29%	1.18%
Enterprise Value to Invested Capital (EV/IC)	1.30	1.19	1.21	1.19	1.06	1.09	1.03	1.02	0.97	0.96
Enterprise Value to Revenue (EV/Rev)	1.62	1.46	1.44	1.35	1.26	0.94	0.88	0.80	0.93	1.22
Enterprise Value to EBITDA (EV/EBITDA)	9.25	8.64	8.67	8.23	7.76	7.61	7.51	7.18	6.80	7.01
Enterprise Value to EBIT (EV/EBIT)	14.40	13.30	13.13	12.52	11.80	11.72	11.62	10.96	10.29	10.77
Enterprise Value to NOPAT (EV/NOPAT)	15.83	14.43	14.24	13.51	12.66	12.10	11.99	11.27	11.17	11.57
Enterprise Value to Operating Cash Flow (EV/OCF)	11.61	11.95	12.44	11.02	10.39	9.69	8.73	8.69	9.23	8.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	138.65	295.56	12.69	13.41	10.70	10.79	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	1.27	1.26	1.20	1.17	1.17	1.16	1.15	1.17	1.15
Long-Term Debt to Equity	1.29	1.27	1.25	1.18	1.15	1.15	1.08	1.15	1.17	1.15
Financial Leverage	1.15	1.14	1.13	1.08	1.10	1.08	1.08	1.08	1.13	1.13
Leverage Ratio	2.62	2.65	2.59	2.57	2.55	2.60	2.59	2.61	2.60	2.65
Compound Leverage Factor	1.80	1.79	2.50	1.90	1.87	1.28	1.84	1.93	8.17	1.94
Debt to Total Capital	56.27%	55.98%	55.66%	54.60%	53.95%	53.94%	53.72%	53.43%	53.98%	53.59%
Short-Term Debt to Total Capital	0.01%	0.25%	0.25%	1.21%	1.04%	1.13%	3.86%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	56.27%	55.73%	55.42%	53.39%	52.91%	52.81%	49.86%	53.43%	53.97%	53.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	10.66%	10.73%	11.19%	8.71%	8.27%	8.90%	8.82%	9.07%	9.09%	9.30%
Common Equity to Total Capital	33.07%	33.29%	33.15%	36.69%	37.78%	37.16%	37.45%	37.50%	36.93%	37.11%
Debt to EBITDA	4.14	4.20	4.14	4.00	4.09	3.93	4.05	3.89	3.93	4.05
Net Debt to EBITDA	3.89	3.94	3.86	3.62	3.83	3.65	3.77	3.63	3.67	3.78
Long-Term Debt to EBITDA	4.14	4.18	4.12	3.91	4.01	3.85	3.76	3.89	3.93	4.05
Debt to NOPAT	7.08	7.01	6.79	6.57	6.68	6.25	6.47	6.11	6.45	6.68
Net Debt to NOPAT	6.65	6.59	6.33	5.95	6.25	5.80	6.02	5.69	6.03	6.23
Long-Term Debt to NOPAT	7.08	6.98	6.76	6.42	6.55	6.12	6.00	6.11	6.45	6.68
Altman Z-Score	1.24	1.17	1.21	1.24	1.13	1.36	1.34	1.45	1.21	0.98
Noncontrolling Interest Sharing Ratio	21.23%	22.01%	22.31%	19.33%	18.82%	19.68%	20.04%	20.54%	20.86%	21.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	1.08	1.14	1.18	1.10	1.05	0.81	1.12	1.17	1.08
Quick Ratio	0.84	0.83	0.88	0.92	0.83	0.80	0.59	0.86	0.85	0.80
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-6,743	-14,650	-11,316	-5,087	-5,408	1,721	901	2,382	2,058	-5,874
Operating Cash Flow to CapEx	175.95%	265.86%	280.25%	475.66%	184.09%	342.42%	295.92%	394.58%	150.68%	302.84%
Free Cash Flow to Firm to Interest Expense	-8.35	-17.69	-14.73	-6.94	-7.91	2.72	1.41	3.85	3.48	-10.18
Operating Cash Flow to Interest Expense	3.21	3.47	2.96	5.15	1.89	3.75	3.96	5.41	2.26	5.18
Operating Cash Flow Less CapEx to Interest Expense	1.38	2.17	1.90	4.06	0.87	2.66	2.62	4.04	0.76	3.47
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.72	0.74	0.74	0.72	0.93	0.95	1.02	0.85	0.67
Accounts Receivable Turnover	8.51	8.50	9.82	8.96	8.88	10.77	11.46	11.83	11.05	8.90
Inventory Turnover	22.34	24.98	26.17	28.99	24.52	30.30	35.40	43.12	32.28	25.48
Fixed Asset Turnover	0.92	0.95	0.97	0.98	0.95	1.23	1.26	1.36	1.11	0.87
Accounts Payable Turnover	8.26	8.30	9.39	8.64	8.88	9.92	10.52	11.14	10.48	8.28
Days Sales Outstanding (DSO)	42.88	42.95	37.16	40.76	41.12	33.89	31.85	30.86	33.03	41.01
Days Inventory Outstanding (DIO)	16.34	14.61	13.95	12.59	14.89	12.05	10.31	8.46	11.31	14.33
Days Payable Outstanding (DPO)	44.20	43.97	38.89	42.26	41.11	36.80	34.68	32.78	34.83	44.07
Cash Conversion Cycle (CCC)	15.02	13.59	12.23	11.09	14.90	9.13	7.48	6.55	9.51	11.27
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	102,607	102,344	99,630	92,551	93,781	85,640	86,251	85,203	86,271	85,281
Invested Capital Turnover	0.84	0.89	0.90	0.91	0.87	1.16	1.18	1.27	1.04	0.83
Increase / (Decrease) in Invested Capital	8,826	16,704	13,379	7,348	7,510	359	786	-416	-266	7,732
Enterprise Value (EV)	133,634	122,003	120,816	109,980	99,291	93,030	89,208	87,198	83,548	82,090
Market Capitalization	66,145	54,954	55,509	53,010	42,192	40,521	36,508	35,143	30,319	29,640
Book Value per Share	$10.26	$10.30	$10.18	$10.66	$11.66	$10.54	$10.83	$10.71	$10.69	$10.64
Tangible Book Value per Share	$7.37	$7.37	$7.18	$7.70	$8.40	$8.07	$8.29	$8.16	$8.11	$8.03
Total Capital	106,194	105,856	103,505	97,942	97,105	89,140	89,588	88,394	89,414	88,476
Total Debt	59,760	59,258	57,616	53,476	52,388	48,081	48,131	47,231	48,262	47,415
Total Long-Term Debt	59,752	58,995	57,359	52,295	51,380	47,075	44,672	47,229	48,260	47,413
Net Debt	56,173	55,691	53,730	48,437	49,064	44,574	44,794	44,040	45,102	44,220
Capital Expenditures (CapEx)	1,472	1,081	810	793	704	693	857	849	888	987
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,233	929	1,304	1,534	1,937	1,160	714	880	1,448	592
Debt-free Net Working Capital (DFNWC)	1,554	1,228	1,954	3,480	2,164	1,674	1,044	1,210	1,715	918
Net Working Capital (NWC)	1,546	965	1,697	2,299	1,156	668	-2,415	1,208	1,713	916
Net Nonoperating Expense (NNE)	636	620	71	569	535	1,033	454	519	355	536
Net Nonoperating Obligations (NNO)	56,173	55,746	53,741	48,085	49,064	44,581	44,794	44,040	45,119	44,220
Total Depreciation and Amortization (D&A)	1,374	1,324	1,213	1,254	1,158	1,107	1,061	1,059	1,060	1,030
Debt-free, Cash-free Net Working Capital to Revenue	1.49%	1.11%	1.56%	1.89%	2.46%	1.17%	0.71%	0.81%	1.61%	0.88%
Debt-free Net Working Capital to Revenue	1.88%	1.47%	2.34%	4.28%	2.75%	1.69%	1.03%	1.11%	1.91%	1.36%
Net Working Capital to Revenue	1.87%	1.15%	2.03%	2.83%	1.47%	0.67%	-2.39%	1.11%	1.91%	1.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.29	$0.33	$0.35	$0.32	$0.38	$0.15	$0.25	$0.32	$0.33	$0.29
Adjusted Weighted Average Basic Shares Outstanding	3.43B	3.42B	3.42B	3.37B	3.37B	3.15B	3.14B	3.10B	3.09B	3.09B
Adjusted Diluted Earnings per Share	$0.29	$0.32	$0.35	$0.32	$0.37	$0.15	$0.25	$0.32	$0.35	$0.29
Adjusted Weighted Average Diluted Shares Outstanding	3.43B	3.42B	3.42B	3.37B	3.37B	3.15B	3.14B	3.10B	3.09B	3.09B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.43B	3.42B	3.42B	3.37B	3.37B	3.15B	3.14B	3.10B	3.09B	3.09B
Normalized Net Operating Profit after Tax (NOPAT)	2,085	2,054	1,571	2,261	2,102	2,663	1,696	1,967	1,792	1,939
Normalized NOPAT Margin	10.67%	9.89%	7.58%	10.45%	10.24%	12.84%	9.26%	10.35%	4.37%	8.45%
Pre Tax Income Margin	8.10%	7.33%	10.70%	8.23%	7.86%	5.42%	7.32%	7.99%	13.83%	6.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.86	2.72	3.00	3.30	3.22	3.60	2.94	3.31	3.05	3.32
NOPAT to Interest Expense	2.58	2.48	2.69	3.08	3.07	3.29	2.63	3.18	3.03	3.22
EBIT Less CapEx to Interest Expense	1.04	1.41	1.95	2.21	2.19	2.51	1.61	1.94	1.55	1.60
NOPAT Less CapEx to Interest Expense	0.76	1.17	1.63	2.00	2.04	2.19	1.30	1.80	1.53	1.51
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	98.52%	95.81%	100.03%	110.34%	113.30%	103.74%	93.75%	81.76%	79.12%	70.13%
Augmented Payout Ratio	98.52%	95.81%	100.03%	110.34%	113.30%	103.74%	93.75%	81.76%	79.12%	70.13%

Frequently Asked Questions About Energy Transfer's Financials

When does Energy Transfer's fiscal year end?

According to the most recent income statement we have on file, Energy Transfer's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Energy Transfer's net income changed over the last 9 years?

Energy Transfer's net income appears to be on an upward trend, with a most recent value of $6.57 billion in 2024, rising from $1.06 billion in 2015. The previous period was $5.29 billion in 2023. View Energy Transfer's forecast to see where analysts expect Energy Transfer to go next.

What is Energy Transfer's operating income?

Energy Transfer's total operating income in 2024 was $9.14 billion, based on the following breakdown:

Total Gross Profit: $20.70 billion
Total Operating Expenses: $10.97 billion

How has Energy Transfer revenue changed over the last 9 years?

Over the last 9 years, Energy Transfer's total revenue changed from $36.10 billion in 2015 to $82.67 billion in 2024, a change of 129.0%.

How much debt does Energy Transfer have?

Energy Transfer's total liabilities were at $78.95 billion at the end of 2024, a 14.4% increase from 2023, and a 66.0% increase since 2015.

How much cash does Energy Transfer have?

In the past 9 years, Energy Transfer's cash and equivalents has ranged from $161 million in 2023 to $606 million in 2015, and is currently $312 million as of their latest financial filing in 2024.

How has Energy Transfer's book value per share changed over the last 9 years?

Over the last 9 years, Energy Transfer's book value per share changed from -0.89 in 2015 to 10.26 in 2024, a change of -1,249.7%.

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This page (NYSE:ET) was last updated on 5/29/2025 by MarketBeat.com Staff

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Energy Transfer (ET) Financials

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Energy Transfer (ET) Financials

Annual Income Statements for Energy Transfer

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