US · USD

ET

Energy Transfer LP

$20.10+1.67% ($0.33)Updated 10/1/26, 5:24 PM

Day's range: $19.59 – $20.13
Day's volume: $251.6M
52-week range: $15.15 – $21.73

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ET in numbers

Market cap: $69.2B

P/E: 13.09

Dividend yield (12m): 6.70%

Net debt/EBITDA: 3.99

The 12-month dividend yield of ET is 6.70%, below its 5-year average of 7.64%.

ET price history

10/02/202510/01/2026

Compare with

ET risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+23.84%	+77.40%	+206.32%
Volatility (annualized)	18.72%	20.24%	22.93%
Largest drawdown	-8.09%	-17.93%	-17.93%
Positive months	7/12	21/36	35/60

How much did investing in ET return?

Amount invested

$1,000.00 invested on 09/01/2021 would be worth $3,063.23 today.

Value today in ET: $3,063.23

Return over the period: +206.32%

Return per year: +25.10%

In the S&P 500: $1,776.31

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

ET fundamentals

Valuation

P/E
13.09
P/B
—
EV/EBITDA
8.10
EV/EBIT
12.67
EV/Revenue
1.27
P/EBIT
6.42
P/S
0.64
P/OCF
5.71
P/FCF
—
Earnings yield
7.89%
PEG ratio
—
Earnings per share
$1.54
Book value per share
—

Debt

Net debt
$67.4B
Net debt/EBITDA
3.99
Net debt/Equity
—
Debt/Equity
—
Current ratio
1.16
Quick ratio
0.94
Cash ratio
0.05

Efficiency

Gross margin
23.58%
EBITDA margin
15.71%
Operating margin
10.04%
Net margin
4.93%
Asset turnover
0.72

Profitability

ROE
—
ROA
3.57%
ROIC
—
Payout
87.63%

Growth

Revenue CAGR (5 years)
15.57%
Earnings CAGR (5 years)
7.02%
Revenue growth (year)
—
Earnings growth (year)
—
Revenue growth (quarter)
—
Earnings growth (quarter)
—

What is ET's fair price?

Two classic value formulas, with today's numbers. The current price is $20.10.

Graham's fair price: —; ET's earnings per share and book value per share are not available, so the formula cannot be computed.

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $17.70; 11.94% below the price

$1.06 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

ET's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	12.80	13.96	11.81	7.72	4.64	-25.77	9.81	19.78
EV/EBITDA	8.42	8.86	7.78	7.12	5.93	10.18	8.24	9.71
Dividend yield	7.98%	6.51%	8.96%	7.33%	7.44%	17.28%	9.51%	9.24%
Earnings per share	$1.29	$1.40	$1.17	$1.54	$1.77	-$0.24	$1.31	$0.67
Gross margin	25.77%	25.03%	22.96%	19.63%	25.25%	34.57%	26.58%	23.08%
EBITDA margin	17.20%	17.30%	16.14%	13.24%	18.70%	17.09%	19.09%	15.28%
Net margin	5.18%	5.82%	5.01%	5.29%	8.11%	-1.66%	6.49%	3.23%
Net debt/EBITDA	4.56	4.16	4.12	4.03	3.92	7.67	4.90	5.52

ET's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$85.5B	$82.7B	$78.6B	$89.9B	$67.4B	$39B
Cost of revenue	-$63.5B	-$62B	-$60.5B	-$72.2B	-$50.4B	-$25.5B
Gross profit	$22B	$20.7B	$18B	$17.6B	$17B	$13.5B
EBITDA	$14.7B	$14.3B	$12.7B	$11.9B	$12.6B	$6.7B
EBIT	$9B	$9.1B	$8.3B	$7.7B	$8.8B	$3B
Financial result	—	—	—	—	—	—
Income before tax	—	—	—	—	$6.9B	$377M
Income tax	-$350M	-$541M	-$303M	-$204M	-$184M	-$237M
Net income	$4.4B	$4.8B	$3.9B	$4.8B	$5.5B	-$648M

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does ET pay dividends?

Dividend yield per year

6.66%2017
9.24%2018
9.51%2019
17.28%2020
7.44%2021
7.33%2022
8.96%2023
6.51%2024
7.98%2025
5.04%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	08/06/2026	08/19/2026	$0.34
Dividend	05/07/2026	05/20/2026	$0.34
Dividend	02/05/2026	02/19/2026	$0.34
Dividend	11/06/2025	11/19/2025	$0.33
Dividend	08/07/2025	08/19/2025	$0.33
Dividend	05/08/2025	05/20/2025	$0.33
Dividend	02/06/2025	02/19/2025	$0.33
Dividend	11/07/2024	11/19/2024	$0.32
Dividend	08/08/2024	08/19/2024	$0.32
Dividend	05/09/2024	05/20/2024	$0.32
Dividend	02/05/2024	02/20/2024	$0.32
Dividend	10/26/2023	11/20/2023	$0.31

See all 40 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	08/10/2023	08/21/2023	$0.31
Dividend	05/04/2023	05/22/2023	$0.31
Dividend	02/03/2023	02/21/2023	$0.31
Dividend	11/02/2022	11/21/2022	$0.27
Dividend	08/04/2022	08/19/2022	$0.23
Dividend	05/05/2022	05/19/2022	$0.20
Dividend	02/04/2022	02/18/2022	$0.18
Dividend	11/03/2021	11/19/2021	$0.15
Dividend	08/04/2021	08/19/2021	$0.15
Dividend	05/07/2021	05/19/2021	$0.15
Dividend	02/04/2021	02/19/2021	$0.15
Dividend	11/04/2020	11/19/2020	$0.15
Dividend	08/05/2020	08/19/2020	$0.31
Dividend	05/05/2020	05/19/2020	$0.31
Dividend	02/05/2020	02/19/2020	$0.31
Dividend	11/01/2019	11/19/2019	$0.31
Dividend	08/02/2019	08/19/2019	$0.31
Dividend	05/03/2019	05/20/2019	$0.31
Dividend	02/06/2019	02/19/2019	$0.31
Dividend	11/06/2018	11/19/2018	$0.31
Dividend	08/02/2018	08/20/2018	$0.31
Dividend	05/03/2018	05/21/2018	$0.31
Dividend	02/06/2018	02/20/2018	$0.31
Dividend	11/03/2017	11/20/2017	$0.30
Dividend	08/02/2017	08/21/2017	$0.29
Dividend	05/05/2017	05/19/2017	$0.29
Dividend	02/02/2017	02/20/2017	$0.29
Dividend	11/02/2016	11/18/2016	$0.29

About Energy Transfer Lp

Sector: Transportation and utilities

Questions about ET

How much is ET today?

ET is at $20.10 (1.67% on the day), last traded on 10/01/2026.

How much did ET pay in dividends in 2025?

ET paid $1.32 per share in 2025, a dividend yield of 7.98%.

How much did ET return in 12 months?

ET returned 23.84% in 12 months, with annualized volatility of 18.72% and a largest drawdown of -8.09%.