Operating Income for Energy Transfer LP (ET)
According to Energy Transfer LP's latest reported financial statements, the company's current operating income (TTM) is $9.44B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
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TTM (last 4 quarters)
$9.44B
YoY change
+3.3%
5Y CAGR
+25.9%
Peak year (2025)
$9.44B
Cumulative operating income
$77.52B
Operating Income history chart for Energy Transfer LP (ET) from 2004 to 2025
Operating Income history table for Energy Transfer LP (ET) from 2004 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $9.44B | +3.3% | ||
| 2024 | $9.14B | +10.2% | ||
| 2023 | $8.29B | +7.2% | ||
| 2022 | $7.74B | -12.0% | ||
| 2021 | $8.79B | +195.0% | ||
| 2020 | $2.98B | -58.6% | ||
| 2019 | $7.20B | +33.3% | ||
| 2018 | $5.40B | +99.2% | ||
| 2017 | $2.71B | +46.6% | ||
| 2016 | $1.85B | -19.1% | ||
| 2015 | $2.29B | -7.4% | ||
| 2014 | $2.47B | +59.3% | ||
| 2013 | $1.55B | +14.0% | ||
| 2012 | $1.36B | +10.1% | ||
| 2011 | $1.23B | +19.1% | ||
| 2010 | $1.04B | -6.6% | ||
| 2009 | $1.11B | +1.0% | ||
| 2008 | $1.10B | +35.8% | ||
| 2007 | $809.34M | +40.6% | ||
| 2006 | $575.54M | +93.2% | ||
| 2005 | $297.92M | +127.8% | ||
| 2004 | $130.81M | — |
Operating Income values are taken from Energy Transfer LP's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, Energy Transfer LP (ET) operating income totalled $9.44B – edged up 3.3% year-over-year.
Over 2020–2025 (5 years), Energy Transfer LP operating income expanded at a +25.9% compound annual rate, sustaining 3 straight years of year-over-year growth.
Across the available history, operating income reached its high of $9.44B in 2025 and its low of $130.81M in 2004.
Energy Transfer LP (ET) sits 5th of 8 Energy peers we track on this metric, against a peer median of $9.44B.
Energy Transfer LP Operating Income by Year
Energy Transfer LP Operating Income 2025: $9.44B
Energy Transfer LP operating income in 2025 was $9.44B, edged up 3.3% from 2024. This figure represents the highest annual value in the available history.
Energy Transfer LP Operating Income 2024: $9.14B
Energy Transfer LP operating income in 2024 was $9.14B, grew 10.2% from 2023.
Energy Transfer LP Operating Income 2023: $8.29B
Energy Transfer LP operating income in 2023 was $8.29B, grew 7.2% from 2022.
Energy Transfer LP Operating Income 2022: $7.74B
Energy Transfer LP operating income in 2022 was $7.74B, declined 12.0% below 2021.
Energy Transfer LP Operating Income 2021: $8.79B
Energy Transfer LP operating income in 2021 was $8.79B.
See more financial history for Energy Transfer LP (ET).
Sector peers — Operating Income
Companies in the same sector as Energy Transfer LP, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Exxon Mobil Corporation (XOM) | $33.94B | Energy |
| Chevron Corporation (CVX) | $16.67B | Energy |
| ConocoPhillips (COP) | $11.49B | Energy |
| Enbridge Inc. (ENB) | $10.96B | Energy |
| EOG Resources, Inc. (EOG) | $7.93B | Energy |
| SLB N.V. (SLB) | $5.46B | Energy |
| The Williams Companies, Inc. (WMB) | $4.40B | Energy |
| Valero Energy Corporation (VLO) | $4.31B | Energy |
Frequently asked questions
What is Energy Transfer LP's operating income?
- Latest reported operating income for Energy Transfer LP (ET) is $9.44B (period ending December 31, 2025).
How has Energy Transfer LP operating income changed year-over-year?
- Energy Transfer LP (ET) operating income changed +3.3% year-over-year on the latest annual filing.
What is the long-term growth rate of Energy Transfer LP operating income?
- Energy Transfer LP (ET) operating income compound annual growth rate is +25.9% over the most recent 5 years available.
When did Energy Transfer LP operating income hit its highest annual value?
- Energy Transfer LP operating income reached its highest annual value of $9.44B in 2025.
What was Energy Transfer LP operating income in 2024?
- Energy Transfer LP (ET) operating income in 2024 was $9.14B.
What was Energy Transfer LP operating income in 2025?
- Energy Transfer LP (ET) operating income in 2025 was $9.44B.
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