Question 1

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

Accepted Answer

Energy Transfer LP (ET) P/S ratio is 0.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Energy Transfer LP specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

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

Accepted Answer

Energy Transfer LP's P/S ratio of 0.8× is above its own 5-year average of 0.6× and below the sector median of 2.2×. That places the current reading at the 89th 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/S ratio range?

Accepted Answer

In the available daily series, Energy Transfer LP (ET) P/S ratio has ranged from a low of 0.2× in 2016 to a high of 1.5× in 2012. The 5-year average is 0.6× and the 5-year median is 0.6×.

Question 7

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

Accepted Answer

Energy Transfer LP (ET) P/S ratio at the end of 2025 was 0.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$60.2B	$82.6B	0.7×	-0.1×	Dec 31, 2025
2024	$67.1B	$82.7B	0.8×	+0.2×	Dec 31, 2024
2023	$45.2B	$78.6B	0.6×	+0.2×	Dec 31, 2023
2022	$36.7B	$89.9B	0.4×	+0.1×	Dec 31, 2022
2021	$23.2B	$67.4B	0.3×	-0.1×	Dec 31, 2021
2020	$16.7B	$39B	0.4×	-0.2×	Dec 31, 2020
2019	$34B	$54.2B	0.6×	+0.1×	Dec 31, 2019
2018	$30.8B	$54.1B	0.6×	+0.1×	Dec 31, 2018
2017	$18.6B	$41.1B	0.5×	-0.1×	Dec 31, 2017
2016	$20.2B	$37.8B	0.5×	+0.2×	Dec 31, 2016
2015	$14.5B	$42.1B	0.3×	-0.2×	Dec 31, 2015
2014	$31.1B	$55.7B	0.6×	+0.1×	Dec 31, 2014
2013	$22.5B	$48.3B	0.5×	-0.3×	Dec 31, 2013
2012	$12.8B	$17.1B	0.7×	-0.3×	Dec 31, 2012
2011	$9.05B	$8.24B	1.1×	-0.2×	Dec 31, 2011
2010	$8.71B	$6.6B	1.3×	+0.1×	Dec 31, 2010
2009	$6.82B	$5.42B	1.3×	+0.9×	Dec 31, 2009
2008	$3.61B	$9.29B	0.4×	-0.8×	Dec 31, 2008
2007	$7.69B	$6.68B	1.2×	+0.5×	Nov 30, 2007
2006	$4.49B	$6.83B	0.7×	+0.2×	Nov 30, 2006
2005	$3.15B	$7.72B	0.4×	—	Nov 30, 2005


New Era Energy & Digital (NUAI)	84.8×
Texas Pacific Land (TPL)	39.0×
Williams Companies (WMB)	7.5×
Diamondback Energy (FANG)	3.7×
National Fuel Gas (NFG)	3.6×
Enphase Energy (ENPH)	3.5×
Targa Resources (TRGP)	3.3×
EOG Resources (EOG)	3.3×
ConocoPhillips (COP)	2.8×
Occidental Petroleum (OXY)	2.7×
Chevron (CVX)	2.2×
Baker Hughes (BKR)	2.2×
SLB (SLB)	2.1×
Enbridge (ENB)	2.1×
Devon Energy (DVN)	1.9×
Expand Energy (EXE)	1.9×
APA (APA)	1.7×
ONEOK (OKE)	1.6×
NACCO Industries (NC)	1.4×
Halliburton (HAL)	1.3×
Valero Energy (VLO)	0.6×
Phillips 66 (PSX)	0.5×
Marathon Petroleum (MPC)	0.5×

P/S Ratio for Energy Transfer LP (ET) 2005-2026

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

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

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

Energy Transfer LP P/S Ratio by Year

Energy Transfer LP P/S Ratio 2025: 0.7×

Energy Transfer LP P/S Ratio 2024: 0.8×

Energy Transfer LP P/S Ratio 2023: 0.6×

Energy Transfer LP P/S Ratio 2022: 0.4×

Energy Transfer LP P/S Ratio 2021: 0.3×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Energy Transfer LP (ET) Key Financials