Company / Operating Margin
Energy Transfer LP Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
10.5%
FY2025
5-year range
7.6% / 13.3%
FY2021-FY2025
Trend
-4.5%
vs FY2024
Sector context
#55 of 61
Utilities
What the data says
Among 61 Utilities companies, Energy Transfer LP is in the bottom 10% for operating margin. Operating Margin has fluctuated over the past 10 years, ranging from 5.8% in FY2016 to 13.3% in FY2021.
Based on SEC 10-K filings.
10.5% in FY2025 with a 5-year CAGR of +0.6%.
Remained stable around 10.5% over the past 2 years.
Utilities sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +2.9pp
- 5-Year Change
- +0.6pp
- 10-Year Change
- -
Sector benchmark
Bottom 10% in UtilitiesTop 90% of 61This company 10.5% Sector average 21.7%
▼
-51.3% below sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 4.5% year-over-year.
- Currently 11.1pp below the Utilities sector average.
- Peak operating margin was recorded in FY2021.
- Lowest operating margin in the period was in FY2016.
Company context
Key Data Points
- Altman Z-Score 1.04 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 10.5% | -4.5% |
| FY2024 | 11.1% | +4.6% |
| FY2023 | 10.6% | +38.0% |
| FY2022 | 7.6% | -42.4% |
| FY2021 | 13.3% | +33.0% |
| FY2020 | 10.0% | +48.9% |
| FY2019 | 6.7% | -32.8% |
| FY2018 | 10.0% | +48.9% |
| FY2017 | 6.7% | +15.3% |
| FY2016 | 5.8% | -44.8% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026