Question 1

What is Energy Transfer LP's P/E ratio?

Accepted Answer

Energy Transfer LP (ET) P/E ratio is 13.9× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Energy Transfer LP?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Energy Transfer LP specifically, the relevant sector benchmark is the current sector median of 17.9×.

Question 5

Is Energy Transfer LP's P/E ratio high or low?

Accepted Answer

Energy Transfer LP's P/E ratio of 13.9× is above its own 5-year average of 10.4× and below the sector median of 17.9×. That places the current reading at the 92th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Energy Transfer LP's historical P/E ratio range?

Accepted Answer

In the available daily series, Energy Transfer LP (ET) P/E ratio has ranged from a low of 4.3× in 2021 to a high of 114.4× in 2013. The 5-year average is 10.4× and the 5-year median is 11.2×.

Question 7

What was Energy Transfer LP's P/E ratio in 2025?

Accepted Answer

Energy Transfer LP (ET) P/E ratio at the end of 2025 was 12.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Energy Transfer LP's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$60.19B	$4.90B	12.3×	-1.7×	Dec 31, 2025
2024	$67.11B	$4.81B	13.9×	+2.4×	Dec 31, 2024
2023	$45.24B	$3.94B	11.5×	+3.8×	Dec 31, 2023
2022	$36.68B	$4.76B	7.7×	+3.4×	Dec 31, 2022
2021	$23.25B	$5.36B	4.3×	—	Dec 31, 2021
2020	$16.68B	−$648.00M	—	—	Dec 31, 2020
2019	$33.95B	$3.55B	9.6×	-8.5×	Dec 31, 2019
2018	$30.81B	$1.71B	18.1×	-1.7×	Dec 31, 2018
2017	$18.63B	$942.00M	19.8×	-0.6×	Dec 31, 2017
2016	$20.22B	$994.00M	20.3×	+8.1×	Dec 31, 2016
2015	$14.46B	$1.19B	12.2×	-37.1×	Dec 31, 2015
2014	$31.08B	$630.00M	49.3×	-65.1×	Dec 31, 2014
2013	$22.54B	$197.00M	114.4×	+72.1×	Dec 31, 2013
2012	$12.84B	$303.69M	42.3×	+13.0×	Dec 31, 2012
2011	$9.05B	$308.85M	29.3×	-16.0×	Dec 31, 2011
2010	$8.71B	$192.11M	45.4×	+29.9×	Dec 31, 2010
2009	$6.82B	$441.57M	15.4×	+5.8×	Dec 31, 2009
2008	$3.61B	$374.67M	9.6×	-17.7×	Dec 31, 2008
2007	$7.69B	$281.52M	27.3×	-18.2×	Nov 30, 2007
2006	$4.49B	$98.58M	45.6×	+27.2×	Nov 30, 2006
2005	$3.15B	$171.98M	18.3×	—	Nov 30, 2005


Chevron (CVX)	37.2×
Enphase Energy (ENPH)	36.8×
Williams Companies (WMB)	31.4×
Exxon Mobil (XOM)	28.0×
Targa Resources (TRGP)	25.4×
SLB (SLB)	23.3×
Kinder Morgan (KMI)	22.5×
ConocoPhillips (COP)	22.1×
Enbridge (ENB)	21.6×
Halliburton (HAL)	21.2×
Baker Hughes (BKR)	19.4×
NACCO Industries (NC)	18.1×
Phillips 66 (PSX)	17.8×
Valero Energy (VLO)	17.5×
ONEOK (OKE)	16.1×
Marathon Petroleum (MPC)	15.6×
EOG Resources (EOG)	14.0×
Devon Energy (DVN)	13.8×
Occidental Petroleum (OXY)	13.5×
National Fuel Gas (NFG)	13.0×
First Solar (FSLR)	12.7×
EQT (EQT)	11.9×
APA (APA)	9.8×
Expand Energy (EXE)	8.2×
Sunrun (RUN)	5.6×

P/E Ratio for Energy Transfer LP (ET)

P/E Ratio daily chart for Energy Transfer LP (ET)

Historical P/E Ratio for Energy Transfer LP (ET) from 2005 to 2025

About P/E Ratio at Energy Transfer LP (ET)

Energy Transfer LP P/E Ratio by Year

Energy Transfer LP P/E Ratio 2025: 12.3×

Energy Transfer LP P/E Ratio 2024: 13.9×

Energy Transfer LP P/E Ratio 2023: 11.5×

Energy Transfer LP P/E Ratio 2022: 7.7×

Energy Transfer LP P/E Ratio 2021: 4.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Energy Transfer LP (ET) Key Financials

P/E Ratio daily chart for Energy Transfer LP (ET)

Historical P/E Ratio for Energy Transfer LP (ET) from 2005 to 2025

About P/E Ratio at Energy Transfer LP (ET)

Energy Transfer LP P/E Ratio by Year

Energy Transfer LP P/E Ratio 2025: 12.3×

Energy Transfer LP P/E Ratio 2024: 13.9×

Energy Transfer LP P/E Ratio 2023: 11.5×

Energy Transfer LP P/E Ratio 2022: 7.7×

Energy Transfer LP P/E Ratio 2021: 4.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Energy Transfer LP's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Energy Transfer LP?

+Is Energy Transfer LP's P/E ratio high or low?

+What is Energy Transfer LP's historical P/E ratio range?

+What was Energy Transfer LP's P/E ratio in 2025?

+Why does Energy Transfer LP's P/E ratio change over time?

Energy Transfer LP (ET) Key Financials