TTM
11.1%
YoY change
+0.37pp
Trough year (2013)
3.2%
Peak year (2009)
20.5%
Latest annual
11.4%
Operating Margin history chart for Energy Transfer LP (ET) from 2004 to 2025
Latest: 11.4%
Operating Margin change chart for Energy Transfer LP (ET) from 2004 to 2025
Latest: +0.37pp
Operating Margin history table for Energy Transfer LP (ET) from 2004 to 2025
| 2025 | 11.4% | +0.37pp | ||
| 2024 | 11.1% | +0.50pp | ||
| 2023 | 10.6% | +1.95pp | ||
| 2022 | 8.6% | -4.43pp | ||
| 2021 | 13.0% | +5.39pp | ||
| 2020 | 7.7% | -5.64pp | ||
| 2019 | 13.3% | +3.30pp | ||
| 2018 | 10.0% | +3.29pp | ||
| 2017 | 6.7% | +1.76pp | ||
| 2016 | 4.9% | -0.49pp | ||
| 2015 | 5.4% | +0.99pp | ||
| 2014 | 4.4% | +1.23pp | ||
| 2013 | 3.2% | -4.81pp | ||
| 2012 | 8.0% | -6.97pp | ||
| 2011 | 15.0% | -0.73pp | ||
| 2010 | 15.7% | -4.78pp | ||
| 2009 | 20.5% | +8.67pp | ||
| 2008 | 11.8% | -0.09pp | ||
| 2007 | 11.9% | +4.59pp | ||
| 2006 | 7.3% | +2.49pp | ||
| 2005 | 4.8% | -0.74pp | ||
| 2004 | 5.6% | — |
- 202511.4%+0.37pp
- 202411.1%+0.50pp
- 202310.6%+1.95pp
- 20228.6%-4.43pp
- 202113.0%+5.39pp
- 20207.7%-5.64pp
- 201913.3%+3.30pp
- 201810.0%+3.29pp
- 20176.7%+1.76pp
- 20164.9%-0.49pp
- 20155.4%+0.99pp
- 20144.4%+1.23pp
- 20133.2%-4.81pp
- 20128.0%-6.97pp
- 201115.0%-0.73pp
- 201015.7%-4.78pp
- 200920.5%+8.67pp
- 200811.8%-0.09pp
- 200711.9%+4.59pp
- 20067.3%+2.49pp
- 20054.8%-0.74pp
- 20045.6%—
Operating Margin values are taken from Energy Transfer LP's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Energy Transfer LP (ET)
According to Energy Transfer LP's latest reported financial statements, the company's latest reported operating margin is 11.1%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Energy Transfer LP (ET) reported operating margin of 11.42% – expanded 0.4 percentage points year-over-year.
The record annual operating margin stands at 20.50%, reached in 2009; the historical low of 3.21% was recorded in 2013.
Energy Transfer LP Operating Margin by Year
Energy Transfer LP Operating Margin 2025: 11.4%
Energy Transfer LP operating margin in 2025 was 11.42%, expanded 0.4 percentage points from 2024.
Energy Transfer LP Operating Margin 2024: 11.1%
2024's operating margin for Energy Transfer LP came in at 11.05%, expanded 0.5 percentage points from 2023.
Energy Transfer LP Operating Margin 2023: 10.6%
Energy Transfer LP posted operating margin of 10.56% in 2023, expanded 1.9 percentage points from 2022.
Energy Transfer LP Operating Margin 2022: 8.6%
In 2022, Energy Transfer LP reported operating margin of 8.61%, contracted 4.4 percentage points from 2021.
Energy Transfer LP Operating Margin 2021: 13.0%
Energy Transfer LP operating margin in 2021 was 13.04%.
See more financial history for Energy Transfer LP (ET).
Sector peers by Operating Margin
Energy peers of Energy Transfer LP (ET), ranked by their latest operating margin
| 38.8% | |
| 18.3% | |
| 15.8% | |
| 14.4% | |
| 9.0% | |
| 8.4% | |
| 5.0% | |
| 4.6% |
- 18.3%
- 15.8%
- 14.4%
- 8.4%
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