ENERGY TRANSFER LP (ET) Fundamental Analysis & Valuation

NYSE:ET • US29273V1008

Current stock price

19.61 USD
+0.02 (+0.1%)
Last:

This ET fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. ET Profitability Analysis

1.1 Basic Checks

  • ET had positive earnings in the past year.
  • In the past year ET had a positive cash flow from operations.
  • ET had positive earnings in each of the past 5 years.
  • In the past 5 years ET always reported a positive cash flow from operatings.
ET Yearly Net Income VS EBIT VS OCF VS FCFET Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 2.95%, ET is in line with its industry, outperforming 48.33% of the companies in the same industry.
  • With a decent Return On Equity value of 12.14%, ET is doing good in the industry, outperforming 68.42% of the companies in the same industry.
  • ET has a Return On Invested Capital of 5.82%. This is comparable to the rest of the industry: ET outperforms 51.67% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ET is significantly below the industry average of 23.14%.
Industry RankSector Rank
ROA 2.95%
ROE 12.14%
ROIC 5.82%
ROA(3y)3.17%
ROA(5y)3.7%
ROE(3y)11.37%
ROE(5y)12.75%
ROIC(3y)6.22%
ROIC(5y)6.55%
ET Yearly ROA, ROE, ROICET Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -20 -40 -60

1.3 Margins

  • ET has a Profit Margin (4.88%) which is comparable to the rest of the industry.
  • ET's Profit Margin has been stable in the last couple of years.
  • ET has a Operating Margin (10.89%) which is in line with its industry peers.
  • ET's Operating Margin has declined in the last couple of years.
  • ET has a Gross Margin of 25.77%. This is in the lower half of the industry: ET underperforms 61.72% of its industry peers.
  • ET's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 10.89%
PM (TTM) 4.88%
GM 25.77%
OM growth 3Y6.4%
OM growth 5Y-6.26%
PM growth 3Y0.42%
PM growth 5YN/A
GM growth 3Y9.48%
GM growth 5Y-5.73%
ET Yearly Profit, Operating, Gross MarginsET Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30

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1

2. ET Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ET is destroying value.
  • ET has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, ET has more shares outstanding
  • ET has a worse debt/assets ratio than last year.
ET Yearly Shares OutstandingET Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B
ET Yearly Total Debt VS Total AssetsET Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B

2.2 Solvency

  • The Debt to FCF ratio of ET is 17.77, which is on the high side as it means it would take ET, 17.77 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 17.77, ET is in line with its industry, outperforming 47.85% of the companies in the same industry.
  • A Debt/Equity ratio of 1.99 is on the high side and indicates that ET has dependencies on debt financing.
  • ET's Debt to Equity ratio of 1.99 is on the low side compared to the rest of the industry. ET is outperformed by 77.51% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.99
Debt/FCF 17.77
Altman-Z N/A
ROIC/WACC0.89
WACC6.54%
ET Yearly LT Debt VS Equity VS FCFET Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B 40B 60B

2.3 Liquidity

  • ET has a Current Ratio of 1.22. This is a normal value and indicates that ET is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of ET (1.22) is comparable to the rest of the industry.
  • A Quick Ratio of 0.90 indicates that ET may have some problems paying its short term obligations.
  • ET has a Quick ratio (0.90) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.22
Quick Ratio 0.9
ET Yearly Current Assets VS Current LiabilitesET Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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5

3. ET Growth Analysis

3.1 Past

  • ET shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.04%, which is quite good.
  • ET shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -4.52% yearly.
  • Looking at the last year, ET shows a small growth in Revenue. The Revenue has grown by 3.47% in the last year.
  • ET shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.04% yearly.
EPS 1Y (TTM)8.04%
EPS 3Y-4.52%
EPS 5YN/A
EPS Q2Q%-13.79%
Revenue 1Y (TTM)3.47%
Revenue growth 3Y-1.64%
Revenue growth 5Y17.04%
Sales Q2Q%29.57%

3.2 Future

  • ET is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.07% yearly.
  • Based on estimates for the next years, ET will show a small growth in Revenue. The Revenue will grow by 5.83% on average per year.
EPS Next Y34.92%
EPS Next 2Y19.88%
EPS Next 3Y14.3%
EPS Next 5Y15.07%
Revenue Next Year20.7%
Revenue Next 2Y12.25%
Revenue Next 3Y9.73%
Revenue Next 5Y5.83%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
ET Yearly Revenue VS EstimatesET Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 20B 40B 60B 80B 100B
ET Yearly EPS VS EstimatesET Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1 1.5 2

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6

4. ET Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 16.21, ET is valued correctly.
  • ET's Price/Earnings ratio is a bit cheaper when compared to the industry. ET is cheaper than 65.07% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 24.75. ET is valued slightly cheaper when compared to this.
  • With a Price/Forward Earnings ratio of 12.01, ET is valued correctly.
  • ET's Price/Forward Earnings ratio is rather cheap when compared to the industry. ET is cheaper than 82.30% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of ET to the average of the S&P500 Index (22.10), we can say ET is valued slightly cheaper.
Industry RankSector Rank
PE 16.21
Fwd PE 12.01
ET Price Earnings VS Forward Price EarningsET Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • ET's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, ET is valued a bit cheaper than the industry average as 63.16% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 17.54
EV/EBITDA 8.97
ET Per share dataET EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as ET's earnings are expected to grow with 14.30% in the coming years.
PEG (NY)0.46
PEG (5Y)N/A
EPS Next 2Y19.88%
EPS Next 3Y14.3%

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7

5. ET Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 6.89%, ET is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 3.20, ET pays a better dividend. On top of this ET pays more dividend than 84.69% of the companies listed in the same industry.
  • ET's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 6.89%

5.2 History

  • The dividend of ET has a limited annual growth rate of 5.40%.
  • ET has been paying a dividend for at least 10 years, so it has a reliable track record.
  • ET has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)5.4%
Div Incr Years3
Div Non Decr Years3
ET Yearly Dividends per shareET Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 113.23% of the earnings are spent on dividend by ET. This is not a sustainable payout ratio.
  • The dividend of ET is growing, but earnings are growing more, so the dividend growth is sustainable.
DP113.23%
EPS Next 2Y19.88%
EPS Next 3Y14.3%
ET Yearly Income VS Free CF VS DividendET Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B -4B 6B 8B
ET Dividend Payout.ET Dividend Payout, showing the Payout Ratio.ET Dividend Payout.PayoutRetained Earnings

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ET Fundamentals: All Metrics, Ratios and Statistics

ENERGY TRANSFER LP

NYSE:ET (3/31/2026, 10:31:06 AM)

19.61

+0.02 (+0.1%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-17
Earnings (Next)05-04
Inst Owners28.9%
Inst Owner ChangeN/A
Ins Owners9.33%
Ins Owner Change0.83%
Market Cap67.46B
Revenue(TTM)85.54B
Net Income(TTM)4.17B
Analysts84.83
Price Target22.59 (15.2%)
Short Float %1.02%
Short Ratio1.98
Dividend
Industry RankSector Rank
Dividend Yield 6.89%
Yearly Dividend1.38
Dividend Growth(5Y)5.4%
DP113.23%
Div Incr Years3
Div Non Decr Years3
Ex-Date02-06
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-26.95%
Min EPS beat(2)-34.09%
Max EPS beat(2)-19.81%
EPS beat(4)0
Avg EPS beat(4)-16.17%
Min EPS beat(4)-34.09%
Max EPS beat(4)-2.43%
EPS beat(8)0
Avg EPS beat(8)-20.78%
EPS beat(12)1
Avg EPS beat(12)-17.55%
EPS beat(16)3
Avg EPS beat(16)-14.46%
Revenue beat(2)1
Avg Revenue beat(2)-3.84%
Min Revenue beat(2)-9.7%
Max Revenue beat(2)2.03%
Revenue beat(4)1
Avg Revenue beat(4)-6.97%
Min Revenue beat(4)-14.95%
Max Revenue beat(4)2.03%
Revenue beat(8)1
Avg Revenue beat(8)-7.5%
Revenue beat(12)1
Avg Revenue beat(12)-7.92%
Revenue beat(16)3
Avg Revenue beat(16)-5.58%
PT rev (1m)0.81%
PT rev (3m)0.82%
EPS NQ rev (1m)1.47%
EPS NQ rev (3m)0.82%
EPS NY rev (1m)2.07%
EPS NY rev (3m)0.81%
Revenue NQ rev (1m)6.17%
Revenue NQ rev (3m)6.45%
Revenue NY rev (1m)7.93%
Revenue NY rev (3m)7.38%
Valuation
Industry RankSector Rank
PE 16.21
Fwd PE 12.01
P/S 0.79
P/FCF 17.54
P/OCF 6.65
P/B 1.96
P/tB 3.14
EV/EBITDA 8.97
EPS(TTM)1.21
EY6.17%
EPS(NY)1.63
Fwd EY8.32%
FCF(TTM)1.12
FCFY5.7%
OCF(TTM)2.95
OCFY15.04%
SpS24.86
BVpS9.99
TBVpS6.24
PEG (NY)0.46
PEG (5Y)N/A
Graham Number16.49
Profitability
Industry RankSector Rank
ROA 2.95%
ROE 12.14%
ROCE 7.37%
ROIC 5.82%
ROICexc 5.88%
ROICexgc 6.56%
OM 10.89%
PM (TTM) 4.88%
GM 25.77%
FCFM 4.5%
ROA(3y)3.17%
ROA(5y)3.7%
ROE(3y)11.37%
ROE(5y)12.75%
ROIC(3y)6.22%
ROIC(5y)6.55%
ROICexc(3y)6.25%
ROICexc(5y)6.57%
ROICexgc(3y)6.92%
ROICexgc(5y)7.24%
ROCE(3y)7.88%
ROCE(5y)8.29%
ROICexgc growth 3Y-3.83%
ROICexgc growth 5Y2.72%
ROICexc growth 3Y-4.5%
ROICexc growth 5Y2.46%
OM growth 3Y6.4%
OM growth 5Y-6.26%
PM growth 3Y0.42%
PM growth 5YN/A
GM growth 3Y9.48%
GM growth 5Y-5.73%
F-Score5
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 1.99
Debt/FCF 17.77
Debt/EBITDA 4.56
Cap/Depr 110.93%
Cap/Sales 7.37%
Interest Coverage 2.97
Cash Conversion 67.69%
Profit Quality 92.16%
Current Ratio 1.22
Quick Ratio 0.9
Altman-Z N/A
F-Score5
WACC6.54%
ROIC/WACC0.89
Cap/Depr(3y)87.67%
Cap/Depr(5y)83.63%
Cap/Sales(3y)5.46%
Cap/Sales(5y)4.87%
Profit Quality(3y)148.12%
Profit Quality(5y)147.27%
High Growth Momentum
Growth
EPS 1Y (TTM)8.04%
EPS 3Y-4.52%
EPS 5YN/A
EPS Q2Q%-13.79%
EPS Next Y34.92%
EPS Next 2Y19.88%
EPS Next 3Y14.3%
EPS Next 5Y15.07%
Revenue 1Y (TTM)3.47%
Revenue growth 3Y-1.64%
Revenue growth 5Y17.04%
Sales Q2Q%29.57%
Revenue Next Year20.7%
Revenue Next 2Y12.25%
Revenue Next 3Y9.73%
Revenue Next 5Y5.83%
EBIT growth 1Y1.33%
EBIT growth 3Y4.65%
EBIT growth 5Y9.71%
EBIT Next Year87.69%
EBIT Next 3Y26.68%
EBIT Next 5Y17.84%
FCF growth 1Y-47.62%
FCF growth 3Y-12.14%
FCF growth 5Y11.51%
OCF growth 1Y-11.79%
OCF growth 3Y3.89%
OCF growth 5Y6.63%

ENERGY TRANSFER LP / ET Fundamental Analysis FAQ

What is the ChartMill fundamental rating of ENERGY TRANSFER LP (ET) stock?

ChartMill assigns a fundamental rating of 4 / 10 to ET.


Can you provide the valuation status for ENERGY TRANSFER LP?

ChartMill assigns a valuation rating of 6 / 10 to ENERGY TRANSFER LP (ET). This can be considered as Fairly Valued.


What is the profitability of ET stock?

ENERGY TRANSFER LP (ET) has a profitability rating of 4 / 10.


Can you provide the financial health for ET stock?

The financial health rating of ENERGY TRANSFER LP (ET) is 1 / 10.


Is the dividend of ENERGY TRANSFER LP sustainable?

The dividend rating of ENERGY TRANSFER LP (ET) is 7 / 10 and the dividend payout ratio is 113.23%.