NGL Energy Partners (NGL) Financials

$16.77 +0.09 (+0.51%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$16.82 +0.05 (+0.27%)

As of 04:05 AM Eastern

Annual Income Statements for NGL Energy Partners

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	83	-151	244	-71	360	-397	-1,372	-185	51	-144	39
Consolidated Net Income / (Loss)	50	-187	144	-70	339	-399	-639	-184	52	-143	43
Net Income / (Loss) Continuing Operations	50	-187	95	-22	-79	-181	-637	-184	9.04	-158	65
Total Pre-Tax Income	47	-187	97	-21	-78	-180	-641	-183	9.25	-156	60
Total Operating Income	107	-105	206	187	127	84	-391	83	244	162	329
Total Gross Profit	844	903	479	356	706	0.00	733	809	990	968	962
Total Revenue	16,802	11,742	12,707	2,489	8,689	0.00	5,227	7,948	5,679	4,153	3,469
Operating Revenue	16,800	11,742	12,706	2,489	8,689	-	5,227	7,948	5,679	4,153	3,469
Total Cost of Revenue	15,958	10,839	12,228	2,134	7,983	0.00	4,494	7,139	4,689	3,185	2,507
Operating Cost of Revenue	15,958	10,839	12,228	2,134	7,983	-	4,494	7,139	4,689	3,185	2,507
Total Operating Expenses	736	1,008	273	503	579	983	1,124	726	746	806	633
Selling, General & Admin Expense	514	541	295	291	338	447	325	349	376	421	353
Depreciation Expense	194	229	180	208	212	265	317	289	273	266	255
Other Special Charges / (Income)	29	238	-202	3.60	29	271	482	88	96	119	25
Total Other Income / (Expense), net	-61	-83	-109	-208	-205	-177	-250	-266	-235	-318	-269
Interest Expense	110	133	150	222	177	180	215	270	269	325	280
Interest & Investment Income	12	45	14	7.54	2.53	1.29	1.94	1.40	4.12	4.12	6.57
Other Income / (Expense), net	37	5.58	27	6.35	-30	1.68	-37	2.25	30	2.78	4.26
Income Tax Expense	-3.62	-0.37	1.93	1.35	1.23	0.35	-3.39	0.97	0.22	1.46	-4.89
Net Income / (Loss) Discontinued Operations	-	-	49	-47	419	-218	-1.77	-	43	15	-22
Net Income / (Loss) Attributable to Noncontrolling Interest	13	12	6.83	0.24	-21	-1.77	0.63	0.66	1.11	0.63	3.80
Basic Earnings per Share	-	-	$0.99	($1.08)	$2.01	($4.59)	($5.68)	($2.22)	($0.56)	($2.14)	($0.60)
Weighted Average Basic Shares Outstanding	86.36M	104.84M	108.09M	120.99M	123.02M	127.41M	128.98M	259.68M	131.01M	132.15M	132.20M
Diluted Earnings per Share	-	-	$0.95	($1.08)	$2.01	($4.59)	($5.68)	($2.22)	($0.56)	($2.14)	($0.60)
Weighted Average Diluted Shares Outstanding	86.36M	104.84M	111.85M	120.99M	123.02M	127.41M	128.98M	259.68M	131.01M	132.15M	132.20M
Weighted Average Basic & Diluted Shares Outstanding	86.36M	64.40M	108.09M	120.99M	123.02M	127.41M	0.00	0.00	0.00	132.15M	132.20M

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	19	28	46	-237	9.68	2.45	14	14	69	29	47
Consolidated Net Income / (Loss)	20	28	46	-237	10	3.39	15	15	70	30	48
Net Income / (Loss) Continuing Operations	20	28	46	-237	18	7.49	24	37	30	30	48
Total Pre-Tax Income	20	29	46	-235	13	7.67	23	36	30	30	48
Total Operating Income	72	86	102	-82	82	81	85	101	97	94	110
Total Gross Profit	237	263	264	227	220	234	247	277	239	254	264
Total Revenue	1,616	1,841	1,870	1,630	759	756	982	-820	622	675	910
Operating Revenue	1,616	1,841	1,870	1,630	759	756	982	-820	622	675	910
Total Cost of Revenue	1,379	1,578	1,606	1,403	539	523	735	-1,097	383	421	646
Operating Cost of Revenue	-	-	-	1,403	539	523	735	-	383	-	646
Total Operating Expenses	165	177	162	309	138	152	162	176	142	159	154
Selling, General & Admin Expense	97	95	97	138	86	89	89	85	85	89	86
Depreciation Expense	69	66	66	66	62	62	66	64	67	64	62
Other Special Charges / (Income)	-1.20	16	-0.79	104	-11	1.51	6.98	27	-9.20	6.59	6.15
Total Other Income / (Expense), net	-52	-57	-56	-153	-69	-74	-61	-65	-67	-65	-62
Interest Expense	53	59	57	157	70	77	63	70	64	65	64
Interest & Investment Income	0.09	0.85	0.84	2.34	0.30	1.52	1.38	3.37	0.20	0.00	0.00
Other Income / (Expense), net	0.31	0.31	0.52	1.66	0.16	1.83	0.49	1.79	-3.52	0.21	2.26
Income Tax Expense	0.14	0.34	0.15	1.77	-4.80	0.17	-0.27	-0.09	-0.18	-0.06	-0.12
Net Income / (Loss) Discontinued Operations	-	-	-	-	-7.13	-4.10	-9.17	-	39	0.01	-0.01
Net Income / (Loss) Attributable to Noncontrolling Interest	0.26	0.00	0.00	0.03	0.79	0.94	1.07	1.00	0.72	0.54	1.01
Basic Earnings per Share	($0.11)	($0.05)	$0.08	-	($0.14)	($0.21)	($0.12)	($0.13)	$0.04	$0.02	$0.10
Weighted Average Basic Shares Outstanding	263.85M	263.85M	264.44M	264.29M	132.51M	132.27M	132.01M	132.20M	131.75M	127.31M	125.16M
Diluted Earnings per Share	($0.11)	($0.05)	$0.08	-	($0.14)	($0.21)	($0.12)	($0.13)	$0.04	$0.02	$0.10
Weighted Average Diluted Shares Outstanding	263.85M	263.85M	265.00M	264.29M	132.51M	132.27M	132.01M	132.20M	131.75M	127.31M	125.16M
Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	0.00	132.20M	0.00	0.00	0.00

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Change in Cash & Equivalents	31	-13	-17	14	-3.52	4.13	-18	-1.01	1.61	33	-33
Net Cash From Operating Activities	262	351	-25	138	337	464	304	206	445	376	297
Net Cash From Continuing Operating Activities	262	351	-98	300	152	382	306	204	356	362	257
Net Income / (Loss) Continuing Operations	50	-187	95	-22	-79	-181	-637	-184	9.04	-158	65
Consolidated Net Income / (Loss)	50	-187	144	-70	339	-399	-639	-184	52	-143	43
Net Income / (Loss) Discontinued Operations	-	-	49	-47	419	-218	-1.77	-	43	15	-22
Depreciation Expense	210	249	195	220	222	277	331	306	290	282	267
Non-Cash Adjustments To Reconcile Net Income	-154	159	-130	-19	86	246	602	218	78	191	32
Changes in Operating Assets and Liabilities, net	155	130	-257	378	-76	40	10	-137	-20	45	-109
Net Cash From Discontinued Operating Activities	-	-	73	-162	186	82	-1.77	-	90	14	41
Net Cash From Investing Activities	-1,366	-445	-363	271	453	-1,439	-221	-212	64	-84	-123
Net Cash From Continuing Investing Activities	-1,366	-445	-264	167	-405	-1,738	-221	-212	66	-89	-129
Purchase of Property, Plant & Equipment	-228	-662	-345	-	-456	-556	-187	-142	-148	-152	-246
Acquisitions	-1,304	-246	-44	-	-301	-1,290	-0.06	-0.35	-0.09	-0.26	-0.11
Purchase of Investments	-	-	-37	-	-10	87	-80	-152	56	-6.19	-0.25
Sale of Property, Plant & Equipment	26	8.46	28	168	16	18	46	19	46	53	43
Divestitures	0.00	343	134	371	336	0.00	0.00	63	112	16	72
Sale and/or Maturity of Investments	199	106	-	51	1.44	0.44	0.00	0.37	0.00	0.57	2.00
Net Cash From Discontinued Investing Activities	-	-	-99	104	858	299	-	-	-1.45	5.16	6.29
Net Cash From Financing Activities	1,135	81	371	-394	-794	979	-100	5.56	-508	-259	-208
Net Cash From Continuing Financing Activities	1,135	81	375	-390	-794	979	-100	5.56	-508	-259	-208
Repayment of Debt	-3,298	-2,192	-2,834	-	-4,636	-3,091	-1,170	-1,806	-2,511	-4,624	-1,912
Repurchase of Common Equity	0.00	-18	0.00	-	-15	-1.64	-0.18	-0.09	-0.10	-0.08	-9.06
Payment of Dividends	-270	-358	-185	228	-237	-246	-146	-1.64	-1.99	-180	-311
Issuance of Debt	4,165	2,656	2,900	5,204	4,099	4,074	1,311	1,815	2,007	4,547	2,021
Issuance of Common Equity	551	12	288	37	0.17	-	-	-	0.00	0.00	2.98
Other Financing Activities, net	-13	-19	-28	3.41	-4.58	-114	-95	-1.23	-1.80	-1.59	0.54
Cash Interest Paid	91	117	118	193	171	155	169	255	265	247	299
Cash Income Taxes Paid	23	2.30	2.02	1.84	2.42	4.93	2.59	2.48	3.36	3.21	6.17

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	2.36	-5.11	-1.94	38	-34	-0.77	1.19	-0.03	-0.21	3.22	-2.18
Net Cash From Operating Activities	55	76	93	152	-18	6.72	154	155	33	40	182
Net Cash From Continuing Operating Activities	55	76	93	151	-48	7.35	154	114	17	41	182
Net Income / (Loss) Continuing Operations	20	28	46	-237	18	3.39	15	37	30	30	48
Consolidated Net Income / (Loss)	20	28	46	-237	10	3.39	15	15	70	30	48
Net Income / (Loss) Discontinued Operations	-	-	-	-	-7.13	-	-	-	39	0.01	-0.01
Depreciation Expense	73	70	70	70	65	65	70	67	70	67	66
Non-Cash Adjustments To Reconcile Net Income	-13	33	-14	178	-10	1.14	7.45	16	-18	8.12	-2.16
Changes in Operating Assets and Liabilities, net	-24	-56	-9.13	140	-121	-62	62	-8.49	-64	-64	71
Net Cash From Discontinued Operating Activities	-	-	-	-	30	-	-	-	16	-0.45	-0.03
Net Cash From Investing Activities	-1.44	-55	7.44	-34	28	-78	-67	-5.73	199	-19	-132
Net Cash From Continuing Investing Activities	-1.44	-55	7.44	-34	26	-78	-67	-12	131	-19	-132
Purchase of Property, Plant & Equipment	-36	-45	-39	-32	-60	-90	-58	-38	-22	-31	-137
Purchase of Investments	12	-29	23	-7.94	0.23	11	-11	-1.82	5.12	-1.27	4.51
Sale of Property, Plant & Equipment	21	2.78	23	6.71	16	2.68	1.49	23	61	11	0.06
Net Cash From Financing Activities	-51	-26	-102	-80	-44	70	-85	-149	-233	-18	-52
Net Cash From Continuing Financing Activities	-51	-26	-102	-80	-44	70	-85	-149	-233	-18	-52
Repayment of Debt	-578	-462	-548	-3,036	-222	-347	-1,017	-326	-300	-175	-234
Repurchase of Preferred Equity	-	-	-	-	0.00	-	-	-	-100	-	-27
Repurchase of Common Equity	-	-	-0.08	-	0.00	-	-6.93	-	-8.07	-21	-16
Payment of Dividends	-0.38	-0.57	-0.28	-179	-219	-28	-32	-31	-34	-28	-28
Issuance of Debt	528	437	446	3,136	395	448	970	207	208	206	253
Issuance of Common Equity	0.00	-	-	-	1.79	-	0.17	1.02	0.62	0.12	0.03
Other Financing Activities, net	-0.48	-0.43	-0.32	-0.36	-0.24	0.01	0.28	0.49	0.20	-0.23	-0.44
Cash Interest Paid	26	93	17	112	98	69	68	64	62	62	61
Cash Income Taxes Paid	1.35	0.70	0.89	0.31	1.52	4.00	0.79	-0.15	1.50	0.73	0.50

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Total Assets	6,656	5,560	6,320	6,151	5,902	6,499	5,947	6,070	5,456	5,020	4,609
Total Current Assets	1,647	1,028	1,484	2,251	1,813	774	1,008	1,546	1,292	1,181	962
Cash & Equivalents	41	28	12	22	19	23	4.83	3.82	5.43	39	5.65
Accounts Receivable	1,043	537	807	1,032	1,011	580	733	1,132	1,034	717	579
Inventories, net	442	368	561	551	136	70	158	251	143	107	70
Prepaid Expenses	121	96	103	129	66	102	109	159	98	71	64
Other Current Nonoperating Assets	-	-	-	518	581	-	-	-	0.00	245	243
Plant, Property, & Equipment, net	1,624	1,650	1,790	1,519	1,829	2,852	2,707	1,575	2,223	2,095	2,067
Total Noncurrent Assets	3,384	2,882	3,046	2,381	2,261	2,893	1,771	1,597	1,940	1,744	1,581
Goodwill	1,558	1,315	1,452	1,205	1,110	994	744	744	712	617	599
Intangible Assets	1,232	1,149	1,164	913	801	1,612	745	628	1,059	933	851
Other Noncurrent Operating Assets	113	176	240	245	114	244	203	160	148	148	130
Total Liabilities & Shareholders' Equity	6,656	5,560	6,320	6,151	5,902	6,499	5,947	6,070	5,456	5,020	4,609
Total Liabilities	3,962	3,866	4,087	3,982	3,475	4,226	4,448	4,805	4,138	4,021	3,912
Total Current Liabilities	1,120	706	939	1,129	1,251	846	911	1,277	1,110	977	739
Short-Term Debt	4.47	7.91	30	0.65	0.65	4.68	2.18	2.38	0.00	7.00	8.81
Accounts Payable	859	427	666	854	908	533	680	1,085	928	639	462
Accrued Expenses	-	-	-	-	-	-	-	141	134	173	135
Other Current Liabilities	202	214	207	224	116	308	217	49	49	47	38
Other Current Nonoperating Liabilities	-	-	-	43	227	-	-	-	0.00	112	95
Total Noncurrent Liabilities	2,842	3,160	3,148	2,853	2,224	3,380	3,537	3,528	3,027	3,044	3,173
Long-Term Debt	2,727	2,913	2,963	2,680	2,160	3,145	3,319	3,350	2,858	2,844	2,962
Other Noncurrent Operating Liabilities	115	247	185	174	64	235	115	177	170	200	211
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	0.00	67	83	150	0.00	-	551	551	551	552
Total Equity & Noncontrolling Interests	2,693	1,694	2,167	2,086	2,278	1,736	948	714	767	448	146
Total Preferred & Common Equity	2,146	1,656	2,140	2,003	2,016	1,357	1,445	697	751	430	125
Preferred Stock	-	-	0.00	203	-	43	914	0.00	348	348	348
Total Common Equity	2,146	1,656	2,140	1,800	2,016	1,314	531	697	403	81	-223
Common Stock	2,147	1,657	2,142	1,802	2,017	1,315	531	349	403	82	-223
Accumulated Other Comprehensive Income / (Loss)	-0.11	-0.16	-1.83	-1.82	-0.26	-0.39	-0.27	-0.31	-0.45	-0.50	0.01
Noncontrolling Interest	547	38	27	84	59	73	69	17	17	18	21

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

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2022	12/31/2022	6/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Total Assets	6,114	5,914	5,306	5,628	5,362	4,840	4,890	4,848	4,188	4,302	4,383
Total Current Assets	1,643	1,518	1,183	1,564	1,341	990	1,003	1,016	586	718	721
Cash & Equivalents	4.54	4.53	7.79	2.68	0.74	5.27	4.50	5.68	5.44	8.66	6.48
Accounts Receivable	1,140	1,140	892	1,158	1,000	752	728	784	470	558	598
Inventories, net	345	238	186	251	202	159	194	134	81	118	79
Prepaid Expenses	153	136	84	138	123	72	76	86	28	32	38
Other Current Nonoperating Assets	-	-	-	-	-	0.00	0.00	4.56	0.60	0.15	0.15
Plant, Property, & Equipment, net	1,488	1,400	1,276	1,258	2,137	2,125	2,166	2,137	2,036	2,034	2,103
Total Noncurrent Assets	1,513	1,465	1,352	1,516	1,885	1,724	1,721	1,696	1,566	1,550	1,558
Goodwill	744	744	712	708	708	634	634	634	599	599	599
Intangible Assets	548	516	438	610	1,000	929	916	905	839	825	820
Other Noncurrent Operating Assets	162	150	155	153	158	142	151	137	129	126	139
Total Liabilities & Shareholders' Equity	6,114	5,914	5,306	5,628	5,362	4,840	4,890	4,848	4,188	4,302	4,383
Total Liabilities	4,822	4,563	3,967	4,262	3,951	4,074	4,154	4,134	3,559	3,690	3,793
Total Current Liabilities	1,208	1,485	987	1,307	1,088	865	829	846	469	570	647
Short-Term Debt	2.48	304	-	-	-	7.85	7.87	8.77	8.84	8.88	8.92
Accounts Payable	994	953	774	1,081	832	628	595	645	313	391	452
Accrued Expenses	151	174	159	164	195	176	174	138	106	127	139
Other Current Liabilities	61	54	54	63	61	53	53	54	41	43	47
Other Current Nonoperating Liabilities	-	-	-	-	-	0.00	0.00	0.00	0.64	0.04	0.00
Total Noncurrent Liabilities	3,615	3,078	2,981	2,954	2,863	3,210	3,325	3,288	3,090	3,120	3,146
Long-Term Debt	3,448	2,921	2,804	2,782	2,684	3,018	3,122	3,079	2,871	2,904	2,924
Other Noncurrent Operating Liabilities	166	157	177	172	179	191	203	209	219	216	222
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	551	551	551	551	551	551	551	551	487	487	470
Total Equity & Noncontrolling Interests	741	800	787	815	861	214	185	163	142	124	119
Total Preferred & Common Equity	724	784	771	799	845	194	164	141	122	105	101
Preferred Stock	0.00	0.00	0.00	0.00	348	348	348	348	348	348	348
Total Common Equity	724	784	771	799	497	-154	-185	-207	-226	-244	-248
Common Stock	376	436	423	451	497	-154	-185	-207	-226	-244	-248
Accumulated Other Comprehensive Income / (Loss)	-0.44	-0.44	-0.43	-0.47	-0.46	-0.52	-0.10	0.01	0.00	0.00	0.00
Noncontrolling Interest	16	17	16	16	16	20	22	21	20	19	19

This table displays calculated financial ratios and metrics derived from NGL Energy Partners' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
DEI Shares Outstanding	89,723,169.00	107,063,269.00	110,059,407.00	121,083,664.00	248,067,446.00	128,348,906.00	129,168,035.00	-	-	-	132,012,766.00
DEI Adjusted Shares Outstanding	89,723,169.00	107,063,269.00	110,059,407.00	121,083,664.00	248,067,446.00	128,348,906.00	129,168,035.00	-	-	-	132,012,766.00
DEI Earnings Per Adjusted Shares Outstanding	0.93	-1.41	2.21	-0.59	1.45	-3.09	-10.62	-	-	-	0.30
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	73.23%	-30.12%	8.22%	-80.41%	249.07%	-100.00%	0.00%	52.05%	9.40%	-19.99%	-16.47%
EBITDA Growth	48.37%	-57.70%	184.56%	-3.20%	-23.13%	13.94%	-126.51%	507.58%	55.50%	-23.93%	34.49%
EBIT Growth	35.57%	-168.49%	334.82%	-16.71%	-50.28%	-11.26%	-599.91%	119.96%	272.71%	-43.27%	102.57%
NOPAT Growth	10.73%	-163.25%	375.61%	-35.02%	-32.35%	-33.89%	-566.39%	121.25%	394.89%	-56.79%	214.21%
Net Income Growth	2.94%	-472.76%	176.90%	-148.38%	587.60%	-217.50%	-60.29%	71.20%	128.51%	-372.66%	130.16%
EPS Growth	0.00%	0.00%	0.00%	-213.68%	286.11%	-328.36%	-23.75%	60.92%	74.77%	-282.14%	71.96%
Operating Cash Flow Growth	207.84%	33.96%	-107.12%	651.03%	144.44%	37.60%	-34.49%	-32.29%	116.27%	-15.50%	-20.92%
Free Cash Flow Firm Growth	-48.71%	125.71%	-197.28%	279.72%	-46.16%	-401.73%	154.28%	70.27%	-152.68%	182.66%	-23.89%
Invested Capital Growth	65.73%	-11.08%	15.11%	-13.77%	-8.18%	35.09%	-18.59%	-26.93%	29.36%	-10.01%	-3.20%
Revenue Q/Q Growth	-4.30%	-7.08%	10.50%	-83.93%	129.64%	-100.00%	234.38%	-7.89%	-5.28%	-5.68%	-41.39%
EBITDA Q/Q Growth	34.02%	-69.28%	80.65%	111.62%	-32.88%	-25.04%	28.16%	26.98%	-0.85%	-19.91%	43.17%
EBIT Q/Q Growth	106.82%	-141.34%	4,667.06%	5,905.80%	-62.89%	-62.57%	9.48%	4,593.93%	-2.52%	-38.11%	122.34%
NOPAT Q/Q Growth	142.91%	-135.60%	1,320.78%	6,743.09%	-68.22%	-74.15%	47.55%	-73.09%	0.09%	-56.62%	248.67%
Net Income Q/Q Growth	380.22%	-242.67%	260.58%	54.81%	-16.63%	-272.28%	2.92%	52.05%	-6.74%	-336.91%	120.72%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-21.48%	-101.32%	0.00%	0.00%	0.00%	0.00%	76.28%
Operating Cash Flow Q/Q Growth	156.48%	-25.80%	56.24%	45.50%	35.26%	-16.40%	-3.85%	41.66%	15.39%	-18.63%	0.95%
Free Cash Flow Firm Q/Q Growth	-11.65%	187.60%	-355.87%	286.29%	-25.06%	-61.36%	49.16%	118.65%	-143.01%	168.30%	20.62%
Invested Capital Q/Q Growth	9.28%	-16.62%	-0.29%	-10.20%	-11.83%	-3.48%	-4.06%	-24.07%	38.60%	-8.30%	-6.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	5.02%	7.69%	3.77%	14.29%	8.13%	0.00%	14.03%	10.17%	12.02%	14.23%	27.73%
EBITDA Margin	2.11%	1.28%	3.36%	16.62%	3.66%	0.00%	-1.84%	4.93%	7.00%	6.66%	17.32%
Operating Margin	0.64%	-0.89%	1.62%	7.53%	1.46%	0.00%	-7.48%	1.04%	3.33%	2.55%	9.49%
EBIT Margin	0.86%	-0.84%	1.83%	7.78%	1.11%	0.00%	-8.17%	1.07%	3.66%	2.59%	9.62%
Profit (Net Income) Margin	0.30%	-1.59%	1.13%	-2.80%	3.91%	0.00%	-12.23%	-2.32%	0.60%	-2.06%	1.24%
Tax Burden Percent	107.78%	99.80%	148.73%	329.51%	-433.89%	221.30%	99.75%	100.53%	99.49%	101.71%	71.81%
Interest Burden Percent	32.21%	189.30%	41.60%	-10.91%	-81.22%	-210.84%	149.98%	-214.70%	16.60%	-78.02%	18.02%
Effective Tax Rate	-7.78%	0.00%	2.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.51%	0.00%	-8.13%
Return on Invested Capital (ROIC)	2.94%	-1.58%	4.30%	2.80%	2.13%	0.00%	-5.61%	1.53%	7.84%	3.16%	9.97%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.65%	-6.23%	2.18%	-5.29%	15.62%	0.00%	-15.95%	-7.50%	-2.06%	-6.49%	-1.52%
Return on Net Nonoperating Assets (RNNOA)	-0.56%	-6.95%	3.03%	-5.96%	12.63%	0.00%	-42.02%	-18.17%	-3.78%	-15.51%	-4.88%
Return on Equity (ROE)	2.38%	-8.53%	7.33%	-3.16%	14.77%	-19.16%	-47.63%	-16.63%	4.06%	-12.35%	5.09%
Cash Return on Invested Capital (CROIC)	-46.53%	10.15%	-9.76%	17.59%	10.67%	-28.60%	14.89%	32.65%	-17.76%	13.70%	13.23%
Operating Return on Assets (OROA)	2.68%	-1.62%	3.91%	3.11%	1.60%	0.00%	-6.87%	1.42%	5.52%	3.44%	6.93%
Return on Assets (ROA)	0.93%	-3.06%	2.42%	-1.12%	5.63%	0.00%	-10.27%	-3.06%	0.91%	-2.73%	0.90%
Return on Common Equity (ROCE)	1.18%	-7.39%	7.08%	-2.83%	12.26%	-15.33%	-32.75%	-9.23%	1.73%	-2.58%	-0.43%
Return on Equity Simple (ROE_SIMPLE)	2.34%	-11.30%	6.72%	-3.48%	16.83%	-29.38%	-44.24%	-26.41%	6.99%	-33.30%	34.48%
Net Operating Profit after Tax (NOPAT)	116	-73	202	131	89	59	-274	58	288	124	356
NOPAT Margin	0.69%	-0.62%	1.59%	5.27%	1.02%	0.00%	-5.23%	0.73%	3.31%	1.79%	10.27%
Net Nonoperating Expense Percent (NNEP)	3.59%	4.66%	2.12%	8.10%	-13.48%	17.62%	10.34%	9.04%	9.90%	9.65%	11.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	11.43%
Cost of Revenue to Revenue	94.98%	92.31%	96.23%	85.71%	91.87%	0.00%	85.97%	89.83%	87.98%	85.77%	72.27%
SG&A Expenses to Revenue	3.06%	4.60%	2.32%	11.69%	3.90%	0.00%	6.22%	4.39%	4.43%	6.14%	10.18%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	4.38%	8.58%	2.15%	20.21%	6.67%	0.00%	21.50%	9.13%	8.69%	11.68%	18.24%
Earnings before Interest and Taxes (EBIT)	145	-99	233	194	96	85	-427	85	318	180	334
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	355	150	427	414	318	362	-96	392	609	463	601
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.48	0.25	0.67	0.50	0.67	0.22	0.50	0.83	1.89	18.68	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	12.83	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.06	0.03	0.11	0.36	0.16	0.00	0.05	0.07	0.09	0.22	0.17
Price to Earnings (P/E)	12.41	0.00	5.89	0.00	3.74	0.00	0.00	0.00	14.79	0.00	15.25
Dividend Yield	19.84%	64.95%	12.15%	29.86%	14.24%	67.58%	43.63%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.06%	0.00%	16.98%	0.00%	26.72%	0.00%	0.00%	0.00%	6.76%	0.00%	6.56%
Enterprise Value to Invested Capital (EV/IC)	0.77	0.71	0.86	0.90	0.93	0.65	1.06	1.40	1.09	1.41	1.28
Enterprise Value to Revenue (EV/Rev)	0.23	0.27	0.34	1.57	0.43	0.00	0.89	0.56	0.52	0.75	1.29
Enterprise Value to EBITDA (EV/EBITDA)	10.69	20.78	10.11	9.47	11.63	9.70	0.00	11.42	7.40	11.30	7.47
Enterprise Value to EBIT (EV/EBIT)	26.25	0.00	18.59	20.22	38.39	41.11	0.00	52.43	14.18	29.01	13.45
Enterprise Value to NOPAT (EV/NOPAT)	32.78	0.00	21.42	29.86	41.68	59.91	0.00	76.93	15.67	42.09	12.60
Enterprise Value to Operating Cash Flow (EV/OCF)	14.46	8.88	0.00	28.38	10.96	7.57	15.28	21.73	10.12	13.91	15.08
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	6.62	0.00	4.75	8.34	0.00	6.39	3.62	0.00	9.72	9.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.01	1.72	1.34	1.24	0.89	1.81	3.61	2.65	2.17	2.85	4.26
Long-Term Debt to Equity	1.01	1.72	1.33	1.24	0.89	1.81	3.61	2.65	2.17	2.85	4.25
Financial Leverage	0.86	1.11	1.39	1.13	0.81	1.25	2.63	2.42	1.84	2.39	3.21
Leverage Ratio	2.56	2.78	3.02	2.83	2.62	2.98	4.64	5.43	4.46	4.52	5.68
Compound Leverage Factor	0.82	5.27	1.26	-0.31	-2.13	-6.28	6.96	-11.66	0.74	-3.53	1.02
Debt to Total Capital	50.35%	63.29%	57.26%	55.28%	47.09%	64.47%	78.32%	72.60%	68.43%	74.05%	80.99%
Short-Term Debt to Total Capital	0.08%	0.17%	0.57%	0.01%	0.01%	0.10%	0.05%	0.05%	0.00%	0.18%	0.24%
Long-Term Debt to Total Capital	50.27%	63.12%	56.70%	55.26%	47.08%	64.37%	78.27%	72.55%	68.43%	73.87%	80.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	4.18%	0.00%	0.88%	20.90%	0.00%	8.34%	9.05%	9.50%
Noncontrolling Interests to Total Capital	10.08%	0.82%	1.79%	3.43%	4.55%	1.49%	1.59%	12.31%	13.59%	14.79%	15.60%
Common Equity to Total Capital	39.56%	35.89%	40.94%	37.12%	43.94%	26.91%	12.14%	15.09%	9.64%	2.12%	-6.08%
Debt to EBITDA	7.69	19.45	7.00	6.48	6.80	8.69	-35.65	8.56	4.69	6.16	4.94
Net Debt to EBITDA	6.25	17.80	6.54	6.38	6.73	8.57	-35.37	8.50	4.65	6.03	4.93
Long-Term Debt to EBITDA	7.68	19.40	6.93	6.48	6.79	8.68	-35.63	8.56	4.69	6.14	4.93
Debt to NOPAT	23.60	-39.89	14.83	20.44	24.36	53.70	-12.52	57.68	9.93	22.93	8.34
Net Debt to NOPAT	19.16	-36.51	13.84	20.14	24.14	52.92	-12.42	57.24	9.84	22.46	8.33
Long-Term Debt to NOPAT	23.56	-39.78	14.68	20.44	24.35	53.62	-12.51	57.64	9.93	22.88	8.32
Altman Z-Score	2.85	2.19	2.45	0.86	1.87	0.07	0.70	1.48	1.94	1.78	1.14
Noncontrolling Interest Sharing Ratio	50.28%	13.33%	3.35%	10.51%	16.97%	20.00%	31.24%	44.53%	57.45%	79.12%	108.35%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.47	1.46	1.58	1.99	1.45	0.92	1.11	1.21	1.16	1.21	1.30
Quick Ratio	0.97	0.80	0.87	0.93	0.82	0.71	0.81	0.89	0.94	0.87	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,832	471	-458	824	443	-1,338	726	1,237	-651	538	472
Operating Cash Flow to CapEx	130.08%	53.79%	-7.91%	0.00%	76.75%	86.24%	215.51%	166.19%	437.37%	379.78%	146.54%
Free Cash Flow to Firm to Interest Expense	-16.64	3.54	-3.06	3.70	2.50	-7.44	3.37	4.58	-2.42	1.66	1.69
Operating Cash Flow to Interest Expense	2.38	2.64	-0.17	0.62	1.90	2.58	1.41	0.76	1.65	1.16	1.06
Operating Cash Flow Less CapEx to Interest Expense	0.55	-2.27	-2.28	1.37	-0.58	-0.41	0.76	0.30	1.28	0.85	0.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.11	1.92	2.14	0.40	1.44	0.00	0.84	1.32	1.51	1.33	0.72
Accounts Receivable Turnover	17.43	14.87	18.91	2.71	8.51	0.00	7.96	8.52	8.03	7.53	5.35
Inventory Turnover	42.43	26.77	26.32	3.83	23.23	0.00	39.40	34.85	38.84	43.63	28.41
Fixed Asset Turnover	13.66	7.17	7.39	1.50	5.19	0.00	1.88	3.71	4.58	3.22	1.67
Accounts Payable Turnover	19.29	16.85	22.37	2.81	9.06	0.00	7.41	8.09	7.60	7.30	4.55
Days Sales Outstanding (DSO)	20.94	24.55	19.30	134.82	42.90	0.00	45.84	42.82	45.46	48.48	68.20
Days Inventory Outstanding (DIO)	8.60	13.64	13.87	95.18	15.72	0.00	9.26	10.47	9.40	8.37	12.85
Days Payable Outstanding (DPO)	18.93	21.66	16.32	130.02	40.27	0.00	49.25	45.12	48.01	50.02	80.14
Cash Conversion Cycle (CCC)	10.62	16.53	16.85	99.98	18.34	0.00	5.85	8.18	6.84	6.83	0.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,911	4,367	5,027	4,335	3,980	5,377	4,377	3,198	4,137	3,723	3,514
Invested Capital Turnover	4.27	2.53	2.71	0.53	2.09	0.00	1.07	2.10	2.37	1.77	0.97
Increase / (Decrease) in Invested Capital	1,948	-544	660	-692	-355	1,397	-1,000	-1,178	939	-414	-116
Enterprise Value (EV)	3,795	3,120	4,323	3,915	3,697	3,514	4,644	4,472	4,507	5,232	4,486
Market Capitalization	1,030	410	1,436	906	1,348	294	263	576	760	1,522	600
Book Value per Share	$23.92	$15.47	$19.44	$14.86	$16.26	$10.24	$4.11	$5.36	$3.07	$0.61	($1.69)
Tangible Book Value per Share	($7.18)	($7.55)	($4.32)	($2.63)	$0.85	($10.06)	($7.42)	($5.20)	($10.42)	($11.27)	($12.68)
Total Capital	5,425	4,615	5,227	4,849	4,588	4,885	4,373	4,618	4,176	3,850	3,668
Total Debt	2,732	2,921	2,993	2,680	2,161	3,150	3,425	3,353	2,858	2,851	2,971
Total Long-Term Debt	2,727	2,913	2,963	2,680	2,160	3,145	3,423	3,350	2,858	2,844	2,962
Net Debt	2,218	2,673	2,793	2,641	2,141	3,104	3,397	3,327	2,831	2,792	2,965
Capital Expenditures (CapEx)	202	653	317	-168	439	538	141	124	102	99	203
Debt-free, Cash-free Net Working Capital (DFCFNWC)	491	302	563	1,101	544	-90	94	268	177	170	226
Debt-free Net Working Capital (DFNWC)	532	330	575	1,123	562	-67	99	272	182	209	232
Net Working Capital (NWC)	528	322	546	1,122	562	-72	97	269	182	202	223
Net Nonoperating Expense (NNE)	66	114	58	201	-251	457	366	242	235	267	313
Net Nonoperating Obligations (NNO)	2,218	2,673	2,793	2,166	1,552	3,641	3,429	1,933	2,819	2,724	2,816
Total Depreciation and Amortization (D&A)	210	249	195	220	222	277	331	306	291	283	267
Debt-free, Cash-free Net Working Capital to Revenue	2.92%	2.57%	4.43%	44.22%	6.26%	0.00%	1.81%	3.37%	2.03%	2.44%	6.51%
Debt-free Net Working Capital to Revenue	3.17%	2.81%	4.53%	45.10%	6.47%	0.00%	1.90%	3.42%	2.10%	3.00%	6.68%
Net Working Capital to Revenue	3.14%	2.75%	4.29%	45.08%	6.46%	0.00%	1.86%	3.39%	2.10%	2.90%	6.42%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.29)	($2.35)	$0.00	$0.00	$2.01	($4.59)	($5.68)	($2.22)	($0.56)	($2.14)	($0.60)
Adjusted Weighted Average Basic Shares Outstanding	106.33M	104.17M	108.09M	120.99M	123.02M	127.41M	128.98M	129.84M	131.01M	264.29M	132.20M
Adjusted Diluted Earnings per Share	($0.29)	($2.35)	$0.00	$0.00	$2.01	($4.59)	($5.68)	($2.22)	($0.56)	($2.14)	($0.60)
Adjusted Weighted Average Diluted Shares Outstanding	106.33M	104.17M	111.85M	120.99M	123.02M	127.41M	128.98M	129.84M	131.01M	264.29M	132.20M
Adjusted Basic & Diluted Earnings per Share	($0.29)	($2.35)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($0.56)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	86.36M	104.84M	120.79M	121.57M	123.02M	127.41M	128.98M	129.84M	0.00	0.00	132.20M
Normalized Net Operating Profit after Tax (NOPAT)	95	93	3.68	134	109	248	64	120	384	207	248
Normalized NOPAT Margin	0.57%	0.80%	0.03%	5.37%	1.25%	0.00%	1.22%	1.50%	4.41%	2.98%	7.14%
Pre Tax Income Margin	0.28%	-1.60%	0.76%	-0.85%	-0.90%	0.00%	-12.26%	-2.30%	0.61%	-2.02%	1.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.31	-0.74	1.55	0.87	0.54	0.48	-1.98	0.32	1.18	0.55	1.19
NOPAT to Interest Expense	1.05	-0.55	1.35	0.59	0.50	0.33	-1.27	0.22	1.07	0.38	1.27
EBIT Less CapEx to Interest Expense	-0.52	-5.65	-0.56	1.62	-1.94	-2.52	-2.64	-0.14	0.80	0.25	0.47
NOPAT Less CapEx to Interest Expense	-0.78	-5.46	-0.77	1.34	-1.98	-2.67	-1.92	-0.24	0.69	0.08	0.55
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	537.41%	-191.20%	128.50%	327.78%	69.72%	-61.57%	-22.88%	-0.89%	3.80%	-125.68%	720.00%
Augmented Payout Ratio	537.41%	-200.65%	128.50%	327.78%	74.23%	-61.99%	-22.91%	-0.94%	3.99%	-125.74%	740.98%

This table displays calculated financial ratios and metrics derived from NGL Energy Partners' official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-35.29%	-8.38%	-12.60%	-20.46%	-14.16%	-26.53%	-17.15%	30.15%	-18.05%	-10.81%	-7.39%
EBITDA Growth	-8.40%	10.57%	-15.75%	-110.32%	-3.59%	-7.40%	-15.46%	728.67%	11.12%	9.05%	14.74%
EBIT Growth	-17.73%	25.58%	-21.77%	-364.48%	3.86%	-7.86%	-25.73%	206.95%	14.22%	13.36%	31.43%
NOPAT Growth	-18.66%	42.01%	-1.61%	-370.08%	93.33%	-15.49%	-24.16%	247.98%	-13.12%	18.59%	28.34%
Net Income Growth	-15.33%	684.17%	-22.41%	-613.00%	-46.46%	-88.01%	-68.15%	106.22%	564.86%	779.42%	230.63%
EPS Growth	-175.00%	76.19%	0.00%	0.00%	-27.27%	-320.00%	-250.00%	93.69%	128.57%	109.52%	183.33%
Operating Cash Flow Growth	2,116.85%	322.46%	-61.08%	-36.13%	-132.77%	-91.16%	65.65%	1.83%	283.85%	502.13%	18.52%
Free Cash Flow Firm Growth	291.76%	-34.69%	-173.18%	138.85%	-148.88%	-294.83%	137.65%	-50.38%	133.53%	143.46%	-2.89%
Invested Capital Growth	-44.55%	-12.92%	36.01%	-10.01%	46.00%	37.41%	-7.13%	-3.20%	-6.96%	-8.47%	-6.75%
Revenue Q/Q Growth	-21.12%	13.92%	1.56%	-12.85%	-14.87%	-2.49%	14.52%	-152.92%	175.89%	8.44%	34.85%
EBITDA Q/Q Growth	39.50%	7.28%	10.29%	-106.25%	1,403.15%	3.04%	0.69%	17.06%	-3.94%	-1.26%	9.75%
EBIT Q/Q Growth	137.31%	19.38%	18.49%	-178.79%	193.19%	5.90%	-4.48%	35.51%	-8.77%	0.56%	18.47%
NOPAT Q/Q Growth	235.37%	18.87%	19.35%	-156.77%	340.07%	-48.04%	7.10%	31.84%	-3.35%	-3.67%	16.39%
Net Income Q/Q Growth	158.92%	44.58%	61.81%	-617.27%	104.42%	-67.63%	329.81%	1.01%	373.06%	-57.18%	61.59%
EPS Q/Q Growth	0.00%	54.55%	260.00%	0.00%	0.00%	-50.00%	42.86%	-8.33%	130.77%	-50.00%	400.00%
Operating Cash Flow Q/Q Growth	-76.88%	37.88%	22.18%	63.96%	-111.86%	137.20%	2,189.25%	0.79%	-78.58%	21.83%	350.62%
Free Cash Flow Firm Q/Q Growth	333.62%	-76.69%	-294.80%	136.63%	-393.93%	7.11%	137.64%	-40.58%	65.30%	16.61%	-13.20%
Invested Capital Q/Q Growth	-37.66%	8.35%	45.28%	-8.30%	1.13%	1.98%	-1.81%	-6.81%	-0.29%	0.32%	0.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.65%	14.27%	14.10%	13.91%	15.43%	17.11%	15.44%	0.00%	38.47%	37.60%	28.99%
EBITDA Margin	9.01%	8.48%	9.21%	-0.66%	10.11%	10.69%	9.40%	0.00%	26.31%	23.96%	19.50%
Operating Margin	4.46%	4.67%	5.44%	-5.05%	5.40%	5.75%	4.87%	0.00%	15.66%	13.97%	12.05%
EBIT Margin	4.48%	4.69%	5.47%	-4.95%	5.41%	5.88%	4.91%	0.00%	15.10%	14.00%	12.30%
Profit (Net Income) Margin	1.21%	1.54%	2.45%	-14.53%	0.76%	0.25%	0.94%	0.00%	11.19%	4.42%	5.30%
Tax Burden Percent	99.29%	98.81%	99.66%	100.75%	184.45%	92.42%	101.91%	40.39%	231.51%	100.24%	100.24%
Interest Burden Percent	27.24%	33.16%	44.89%	291.51%	7.56%	4.61%	18.82%	35.40%	32.03%	31.50%	42.96%
Effective Tax Rate	0.71%	1.19%	0.34%	0.00%	-84.45%	7.58%	-1.91%	-0.26%	-0.61%	-0.21%	-0.25%
Return on Invested Capital (ROIC)	9.56%	11.76%	11.36%	-6.25%	21.13%	9.99%	7.51%	0.00%	14.45%	12.37%	10.54%
ROIC Less NNEP Spread (ROIC-NNEP)	7.31%	8.37%	8.76%	-12.72%	15.11%	6.97%	5.32%	0.00%	13.48%	10.22%	8.47%
Return on Net Nonoperating Assets (RNNOA)	12.81%	10.53%	13.57%	-30.42%	30.47%	15.02%	14.28%	0.00%	56.77%	45.56%	38.90%
Return on Equity (ROE)	22.37%	22.29%	24.93%	-36.67%	51.60%	25.01%	21.79%	0.00%	71.22%	57.93%	49.43%
Cash Return on Invested Capital (CROIC)	64.81%	23.46%	-22.38%	13.70%	-33.41%	-27.88%	10.00%	13.23%	16.72%	18.62%	17.51%
Operating Return on Assets (OROA)	6.06%	6.11%	7.16%	-6.57%	7.18%	6.98%	5.69%	0.00%	11.15%	9.90%	8.47%
Return on Assets (ROA)	1.64%	2.00%	3.20%	-19.29%	1.00%	0.30%	1.09%	0.00%	8.26%	3.13%	3.65%
Return on Common Equity (ROCE)	9.73%	12.77%	11.55%	-7.66%	15.12%	7.31%	2.97%	0.00%	-19.42%	-18.42%	-17.24%
Return on Equity Simple (ROE_SIMPLE)	6.35%	9.21%	7.15%	0.00%	-78.51%	-108.21%	-147.39%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	72	85	101	-58	138	72	77	101	98	94	110
NOPAT Margin	4.42%	4.62%	5.43%	-3.53%	9.97%	5.31%	4.97%	0.00%	15.76%	14.00%	12.08%
Net Nonoperating Expense Percent (NNEP)	2.26%	3.39%	2.60%	6.46%	6.02%	3.02%	2.19%	3.18%	0.97%	2.15%	2.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-	2.86%	-	-	-	2.37%	3.26%	3.24%	3.11%	3.60%
Cost of Revenue to Revenue	85.35%	85.73%	85.90%	86.09%	84.57%	82.89%	84.56%	0.00%	61.53%	62.40%	71.01%
SG&A Expenses to Revenue	6.00%	5.15%	5.19%	8.48%	6.31%	6.68%	5.83%	0.00%	13.58%	13.16%	9.42%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.19%	9.59%	8.66%	18.96%	10.03%	11.37%	10.56%	0.00%	22.81%	23.63%	16.94%
Earnings before Interest and Taxes (EBIT)	72	86	102	-81	75	80	76	103	94	94	112
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	146	156	172	-11	140	145	146	170	164	162	177
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.33	1.28	2.97	18.68	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.13	0.13	0.20	0.22	0.20	0.19	0.22	0.17	0.17	0.24	0.39
Price to Earnings (P/E)	21.46	14.11	24.81	0.00	0.00	0.00	0.00	15.25	5.71	6.09	7.87
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.66%	7.08%	4.03%	0.00%	0.00%	0.00%	0.00%	6.56%	17.53%	16.42%	12.71%
Enterprise Value to Invested Capital (EV/IC)	1.69	1.56	1.25	1.41	1.40	1.36	1.41	1.28	1.23	1.29	1.43
Enterprise Value to Revenue (EV/Rev)	0.56	0.57	0.69	0.75	0.78	0.84	0.90	1.29	1.29	1.39	1.58
Enterprise Value to EBITDA (EV/EBITDA)	7.34	7.12	8.74	11.30	11.49	11.69	12.63	7.47	6.95	7.17	7.68
Enterprise Value to EBIT (EV/EBIT)	14.45	13.59	17.34	29.01	28.73	29.58	35.33	13.45	12.43	12.69	13.09
Enterprise Value to NOPAT (EV/NOPAT)	16.14	15.01	17.64	42.09	41.65	43.28	51.90	12.60	12.41	12.59	13.08
Enterprise Value to Operating Cash Flow (EV/OCF)	8.78	7.15	10.94	13.91	17.37	22.32	17.99	15.08	12.31	11.83	12.21
Enterprise Value to Free Cash Flow (EV/FCFF)	1.86	6.17	0.00	9.72	0.00	0.00	13.53	9.49	7.06	6.61	7.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.10	2.04	1.90	2.85	3.96	4.25	4.33	4.26	4.57	4.77	4.97
Long-Term Debt to Equity	2.10	2.04	1.90	2.85	3.95	4.24	4.31	4.25	4.56	4.75	4.96
Financial Leverage	1.75	1.26	1.55	2.39	2.02	2.16	2.68	3.21	4.21	4.46	4.59
Leverage Ratio	4.40	4.42	4.08	4.52	4.82	5.00	4.80	5.68	6.47	6.82	7.08
Compound Leverage Factor	1.20	1.46	1.83	13.18	0.36	0.23	0.90	2.01	2.07	2.15	3.04
Debt to Total Capital	67.69%	67.07%	65.53%	74.05%	79.82%	80.95%	81.23%	80.99%	82.05%	82.66%	83.26%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.18%	0.21%	0.20%	0.23%	0.24%	0.25%	0.25%	0.25%
Long-Term Debt to Total Capital	67.69%	67.07%	65.53%	73.87%	79.61%	80.74%	81.00%	80.75%	81.80%	82.40%	83.01%
Preferred Equity to Total Capital	0.00%	0.00%	8.51%	9.05%	9.19%	9.01%	9.16%	9.50%	9.93%	9.89%	9.89%
Noncontrolling Interests to Total Capital	13.70%	13.67%	13.84%	14.79%	15.07%	14.82%	15.06%	15.60%	14.46%	14.38%	13.88%
Common Equity to Total Capital	18.61%	19.26%	12.12%	2.12%	-4.07%	-4.78%	-5.45%	-6.08%	-6.44%	-6.92%	-7.03%
Debt to EBITDA	4.71	4.56	4.64	6.16	6.61	7.01	7.36	4.94	4.67	4.62	4.49
Net Debt to EBITDA	4.66	4.52	4.61	6.03	6.56	6.96	7.30	4.93	4.66	4.60	4.48
Long-Term Debt to EBITDA	4.71	4.56	4.64	6.14	6.59	6.99	7.34	4.93	4.65	4.60	4.48
Debt to NOPAT	10.36	9.61	9.37	22.93	23.95	25.96	30.23	8.34	8.32	8.11	7.65
Net Debt to NOPAT	10.25	9.52	9.30	22.46	23.76	25.76	29.99	8.33	8.31	8.08	7.63
Long-Term Debt to NOPAT	10.36	9.61	9.37	22.88	23.89	25.90	30.15	8.32	8.30	8.08	7.62
Altman Z-Score	1.72	1.61	1.72	1.61	1.67	1.54	1.51	0.98	1.00	0.99	1.03
Noncontrolling Interest Sharing Ratio	56.49%	42.69%	53.67%	79.12%	70.70%	70.78%	86.38%	0.00%	127.27%	131.79%	134.87%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.20	1.20	1.23	1.21	1.15	1.21	1.20	1.30	1.25	1.26	1.12
Quick Ratio	0.91	0.89	0.92	0.87	0.88	0.88	0.93	0.79	1.01	0.99	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,144	500	-973	357	-1,048	-974	366	218	360	420	364
Operating Cash Flow to CapEx	375.67%	181.51%	551.80%	592.56%	-41.00%	7.73%	270.15%	1,027.93%	0.00%	207.14%	133.53%
Free Cash Flow to Firm to Interest Expense	40.67	8.53	-17.01	2.28	-15.03	-12.58	5.81	3.12	5.62	6.49	5.71
Operating Cash Flow to Interest Expense	1.05	1.30	1.62	0.97	-0.26	0.09	2.44	2.22	0.52	0.63	2.86
Operating Cash Flow Less CapEx to Interest Expense	0.77	0.58	1.33	0.81	-0.89	-1.04	1.54	2.00	1.13	0.32	0.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.35	1.30	1.31	1.33	1.33	1.19	1.16	0.72	0.74	0.71	0.69
Accounts Receivable Turnover	7.08	6.65	6.90	7.53	8.18	6.62	6.64	5.35	5.45	5.06	4.60
Inventory Turnover	27.82	22.14	28.82	43.63	33.46	23.86	29.84	28.41	19.57	14.42	20.29
Fixed Asset Turnover	4.19	5.57	4.17	3.22	3.96	3.65	2.77	1.67	1.60	1.55	1.50
Accounts Payable Turnover	7.04	6.35	7.10	7.30	8.22	6.33	6.78	4.55	5.00	4.56	3.94
Days Sales Outstanding (DSO)	51.53	54.86	52.93	48.48	44.61	55.14	55.00	68.20	66.95	72.20	79.36
Days Inventory Outstanding (DIO)	13.12	16.49	12.67	8.37	10.91	15.29	12.23	12.85	18.65	25.31	17.99
Days Payable Outstanding (DPO)	51.83	57.46	51.42	50.02	44.40	57.65	53.85	80.14	73.02	80.01	92.72
Cash Conversion Cycle (CCC)	12.82	13.88	14.18	6.83	11.12	12.79	13.39	0.91	12.58	17.50	4.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,579	2,795	4,060	3,723	3,766	3,840	3,771	3,514	3,504	3,515	3,516
Invested Capital Turnover	2.16	2.55	2.09	1.77	2.12	1.88	1.51	0.97	0.92	0.88	0.87
Increase / (Decrease) in Invested Capital	-2,073	-415	1,075	-414	1,186	1,045	-290	-116	-262	-325	-254
Enterprise Value (EV)	4,370	4,347	5,055	5,232	5,262	5,217	5,301	4,486	4,292	4,523	5,016
Market Capitalization	1,026	1,021	1,476	1,522	1,341	1,190	1,317	600	563	764	1,252
Book Value per Share	$5.84	$6.06	$3.76	$0.61	($1.17)	($1.39)	($1.57)	($1.69)	($1.71)	($1.91)	($1.97)
Tangible Book Value per Share	($2.88)	($3.93)	($9.18)	($11.27)	($12.96)	($13.09)	($13.23)	($12.68)	($12.60)	($13.04)	($13.26)
Total Capital	4,142	4,149	4,096	3,850	3,791	3,866	3,801	3,668	3,509	3,524	3,523
Total Debt	2,804	2,782	2,684	2,851	3,026	3,130	3,088	2,971	2,879	2,913	2,933
Total Long-Term Debt	2,804	2,782	2,684	2,844	3,018	3,122	3,079	2,962	2,871	2,904	2,924
Net Debt	2,776	2,759	2,664	2,792	3,002	3,105	3,063	2,965	2,874	2,904	2,927
Capital Expenditures (CapEx)	15	42	17	26	44	87	57	15	-39	20	137
Debt-free, Cash-free Net Working Capital (DFCFNWC)	188	253	252	170	128	178	173	226	120	148	77
Debt-free Net Working Capital (DFNWC)	196	256	253	209	134	182	178	232	126	157	84
Net Working Capital (NWC)	196	256	253	202	126	174	169	223	117	148	75
Net Nonoperating Expense (NNE)	52	57	56	179	128	68	62	87	28	65	62
Net Nonoperating Obligations (NNO)	1,241	1,428	2,648	2,724	3,000	3,103	3,057	2,816	2,874	2,904	2,926
Total Depreciation and Amortization (D&A)	73	70	70	70	65	65	70	67	70	67	66
Debt-free, Cash-free Net Working Capital to Revenue	2.41%	3.32%	3.41%	2.44%	1.91%	2.85%	2.91%	6.51%	3.61%	4.55%	2.43%
Debt-free Net Working Capital to Revenue	2.51%	3.35%	3.42%	3.00%	1.99%	2.92%	3.01%	6.68%	3.77%	4.82%	2.63%
Net Working Capital to Revenue	2.51%	3.35%	3.42%	2.90%	1.87%	2.80%	2.86%	6.42%	3.51%	4.54%	2.35%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.11)	($0.05)	$0.00	$0.00	($0.14)	($0.21)	($0.12)	($0.13)	$0.04	$0.02	$0.10
Adjusted Weighted Average Basic Shares Outstanding	263.85M	263.85M	132.22M	264.29M	265.03M	264.55M	264.03M	132.20M	131.75M	127.31M	125.16M
Adjusted Diluted Earnings per Share	($0.11)	($0.05)	$0.00	$0.00	($0.14)	($0.21)	($0.12)	($0.13)	$0.04	$0.02	$0.10
Adjusted Weighted Average Diluted Shares Outstanding	263.85M	263.85M	132.50M	264.29M	265.03M	264.55M	264.03M	132.20M	131.75M	127.31M	125.16M
Adjusted Basic & Diluted Earnings per Share	($0.11)	($0.05)	$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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	132.20M	0.00	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	70	101	101	15	45	73	58	90	62	71	81
Normalized NOPAT Margin	4.35%	5.49%	5.38%	0.95%	3.24%	5.41%	3.73%	0.00%	9.93%	10.46%	8.91%
Pre Tax Income Margin	1.22%	1.55%	2.46%	-14.42%	0.41%	0.27%	0.92%	0.00%	4.84%	4.41%	5.28%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.37	1.47	1.79	-0.51	1.08	1.03	1.21	1.47	1.47	1.46	1.75
NOPAT to Interest Expense	1.36	1.45	1.77	-0.37	1.98	0.93	1.22	1.45	1.53	1.46	1.72
EBIT Less CapEx to Interest Expense	1.09	0.76	1.49	-0.68	0.45	-0.10	0.30	1.26	2.08	1.16	-0.39
NOPAT Less CapEx to Interest Expense	1.08	0.74	1.48	-0.53	1.35	-0.20	0.32	1.24	2.14	1.16	-0.42
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	2.85%	2.30%	2.82%	-125.68%	-261.57%	-240.54%	-219.85%	720.00%	122.79%	96.88%	74.12%
Augmented Payout Ratio	2.85%	2.30%	3.05%	-125.74%	-261.57%	-241.79%	-224.20%	740.98%	139.52%	124.84%	101.72%

Financials Breakdown Chart

Key Financial Trends

Here are the top points from NGL Energy Partners’ Q3 2026 filings, focusing on quarterly cash flow, income, and balance sheet signals relative to the last four years. Bullets are grouped to highlight potential positive, neutral, and negative signals for retail investors.

Net income attributable to common shareholders in Q3 2026: $47,179,000.
Net cash from continuing operating activities in Q3 2026: $182,315,000.
Net income from continuing operations in Q3 2026: $48,194,000.
Diluted earnings per share in Q3 2026: $0.10 per share.
Debt issuances in 2026 Q2 and Q3 added liquidity: $206,000,000 (Q2) and $253,000,000 (Q3), totaling $459,000,000.
Depreciation expense in Q3 2026: $65,500,000 (non-cash, adds back to cash flow).
Q3 2026 operating revenue: $909,816,000, down from $982,414,000 in Q3 2025 (year-over-year decline).
End-of-quarter cash & equivalents in Q3 2026: $6,476,000 (very modest cash balance).
Capital expenditures in Q3 2026: $136,570,000 (purchase of PP&E, cash outflow).
Net change in cash & equivalents for Q3 2026: −$2,183,000 (slight cash decrease for the quarter).

05/14/26 05:12 AM ETAI Generated. May Contain Errors.

NGL Energy Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NGL Energy Partners' financial year ends in March. Their financial year 2025 ended on March 31, 2025.

NGL Energy Partners' net income appears to be on an upward trend, with a most recent value of $43.16 million in 2025, falling from $50.19 million in 2015. The previous period was -$143.12 million in 2024. View NGL Energy Partners' forecast to see where analysts expect NGL Energy Partners to go next.

NGL Energy Partners' total operating income in 2025 was $329.36 million, based on the following breakdown:

Total Gross Profit: $962.11 million
Total Operating Expenses: $632.75 million

Over the last 10 years, NGL Energy Partners' total revenue changed from $16.80 billion in 2015 to $3.47 billion in 2025, a change of -79.4%.

NGL Energy Partners' total liabilities were at $3.91 billion at the end of 2025, a 2.7% decrease from 2024, and a 1.3% decrease since 2015.

In the past 10 years, NGL Energy Partners' cash and equivalents has ranged from $3.82 million in 2022 to $41.30 million in 2015, and is currently $5.65 million as of their latest financial filing in 2025.

Over the last 10 years, NGL Energy Partners' book value per share changed from 23.92 in 2015 to -1.69 in 2025, a change of -107.1%.

Related Companies

Financial statements for NYSE:NGL last updated on 4/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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NGL Energy Partners (NGL) Financials

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NGL Energy Partners (NGL) Financials

Annual Income Statements for NGL Energy Partners

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Quarterly Cash Flow Statements for NGL Energy Partners

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Quarterly Balance Sheets for NGL Energy Partners

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Quarterly Metrics And Ratios for NGL Energy Partners

Financials Breakdown Chart

Key Financial Trends

NGL Energy Partners Financials - Frequently Asked Questions

When does NGL Energy Partners' fiscal year end?

How has NGL Energy Partners' net income changed over the last 10 years?

What is NGL Energy Partners' operating income?

How has NGL Energy Partners' revenue changed over the last 10 years?

How much debt does NGL Energy Partners have?

How much cash does NGL Energy Partners have?

How has NGL Energy Partners' book value per share changed over the last 10 years?

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