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Energy Transfer LP vs Enterprise Products Partners L.P.: ET and EPD compared
Energy Transfer LP is the larger company: $37.1B of revenue in its latest quarter (Q3 2026) against $17.9B for Enterprise Products Partners L.P. (Q3 2026). Energy Transfer LP is growing faster (+86% against +49% a year earlier). Enterprise Products Partners L.P. is more profitable, with an operating margin of 11.1% against 7.5%.
Where the money goes: ET and EPD
Energy Transfer LP (ET) · Q3 2026
Energy Transfer LP, Q3 2026: revenue $37.1B (+86% year over year), operating margin 7.5%, net earnings $1.2B, operating cash flow $4.0B. The chart follows the revenue to costs, profit and cash.
Enterprise Products Partners L.P. (EPD) · Q3 2026
Enterprise Products Partners L.P., Q3 2026: revenue $17.9B (+49% year over year), operating margin 11.1%, net earnings $1.6B, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
| Energy Transfer LP (ET) | Enterprise Products Partners L.P. (EPD) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $37.1B | $17.9B |
| Revenue growth, Y/Y | +86% | +49% |
| Operating margin | 7.5% | 11.1% |
| Net earnings | $1.2B | $1.6B |
| Net margin | 3.3% | 9.0% |
| Operating cash flow | $4.0B | $2.2B |
| Free cash flow | $2.1B | $1.1B |
| Market value | $66.1B | $79.9B |
| P/E | 12.5× | 12.1× |
| Analysts’ mean target | $24.87 | $41.76 |
Where the revenue comes from
Energy Transfer LP
- Refined product sales: $17.6B (47%)
- Crude sales: $8.6B (23%)
- NGL sales: $5.7B (15%)
- Gathering, transportation and other fees: $3.4B (9%)
Enterprise Products Partners L.P.
- Crude Oil Pipelines & Services: $6.6B (37%)
- NGL Pipelines & Services: $5.9B (33%)
- Petrochemical & Refined Products Services: $4.2B (23%)
- Natural Gas Pipelines & Services: $1.2B (7%)
Questions
Which is bigger, Energy Transfer LP or Enterprise Products Partners L.P.?
Energy Transfer LP is the larger company: $37.1B of revenue in its latest quarter (Q3 2026) against $17.9B for Enterprise Products Partners L.P. (Q3 2026).
Is Energy Transfer LP or Enterprise Products Partners L.P. growing faster?
Energy Transfer LP is growing faster (+86% against +49% a year earlier).
Which is more profitable, Energy Transfer LP or Enterprise Products Partners L.P.?
Enterprise Products Partners L.P. is more profitable, with an operating margin of 11.1% against 7.5%.
More: Energy Transfer LP earnings · how Energy Transfer LP makes money · Enterprise Products Partners L.P. earnings · how Enterprise Products Partners L.P. makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.