Energy Transfer LPET -1.46%84 Gross Margin % is 18.14% as of Mar. 2026, which is 3% below its 10-year median of 18.65. GuruFocus rates ET with a GF Score™ of 84/100 and a GF Value™ of $19.05 (Fairly Valued). The stock has 10 warning signs investors should review. Among 867 Oil & Gas companies, Energy Transfer LP ranks worse than 60.67% on this metric.
Energy Transfer LP gross margin has been in long-term decline. The average rate of decline per year is -3.8%.
The historical rank and industry rank for Energy Transfer LP's Gross Margin % or its related term are showing as below:
ET'
s Gross Margin % Range Over the Past 10 Years
Min: 15 Med: 18.65 Max: 25.13
Current: 18.76
During the past 13 years, the highestGross Margin % of Energy Transfer LP was 25.13%. The lowest was 15.00%. And the median was 18.65%.
ET's Gross Margin % is ranked worse than 60.67% of 867
companies
in the Oil & Gas industry
Industry Median: 25.7
vs ET: 18.76
Energy Transfer LP had a gross margin of 18.14% for the quarter that ended in Mar. 2026 => No sustainable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Energy Transfer LP was -3.80% per year.
Energy Transfer LP (NYSE:ET) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Energy Transfer LP had a gross margin of 18.14% for the quarter that ended in Mar. 2026 => No sustainable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Energy Transfer LP Gross Margin % Related Terms
Energy Transfer LP Gross Margin % Historical Data
* Premium members only.
The historical data trend for Energy Transfer LP's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Midstream subindustry, Energy Transfer LP's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Energy Transfer LP Gross Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Energy Transfer LP's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Energy Transfer LP's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Energy Transfer LP (ET) has a Gross Margin % of 18.14% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Energy Transfer LP and its competitors. This is near median its historical median of 18.65. Over the past decade, Energy Transfer LP's Gross Margin % has ranged from 15.00 to 25.13. According to the industry distribution chart, Energy Transfer LP ranks #526 out of 867 companies in the Oil & Gas industry, placing it in the top 60.7%.
Is Energy Transfer LP's Gross Margin % too high?
Energy Transfer LP's current Gross Margin % of 18.14% is near median its 10-year median of 18.65. Over the past 10 years, this metric has ranged from a low of 15.00 to a high of 25.13. The Oil & Gas industry median Gross Margin % is 25.70. Energy Transfer LP's value of 18.14% is 29.4% below this industry median. Based on the distribution chart, Energy Transfer LP ranks #526 out of 867 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Energy Transfer LP has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Energy Transfer LP's Gross Margin % compare to KMI and MPLX?
According to the Oil & Gas industry distribution chart, Energy Transfer LP ranks #526 out of 867 companies for Gross Margin %. This places Energy Transfer LP in the lower half of its industry. The industry median Gross Margin % is 25.70. Energy Transfer LP's value of 18.14% is 29.4% below this benchmark. Historically, Energy Transfer LP's own Gross Margin % has ranged from 15.00 to 25.13 over the past decade. While the company's 10-year median is 18.65 vs. the industry median of 25.70, Energy Transfer LP has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Oil & Gas company?
The median Gross Margin % among Oil & Gas companies is 25.70, based on 867 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Energy Transfer LP's current Gross Margin % of 18.14% is 29.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Energy Transfer LP and its competitors. For the Oil & Gas industry, the median Gross Margin % is 25.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Energy Transfer LP's current Gross Margin % is 18.14%, which is near median its own 10-year median of 18.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Energy Transfer LP stock overvalued right now?
Based on GuruFocus' analysis, Energy Transfer LP (ET) is currently considered Fairly Valued. The stock's GF Value™ is $19.05, compared to a current price of $18.94 — trading 0.6% below its estimated fair value. The current Gross Margin % is 18.14%, which is near median its 10-year median of 18.65 and 29.4% below the Oil & Gas industry median of 25.70. Energy Transfer LP's overall GF Score™ is 84/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Energy Transfer LP (ET), the current Gross Margin % is 18.14% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Energy Transfer LP (ET) Overvalued in 2026?
Based on GuruFocus' analysis, Energy Transfer LP stock appears to be undervalued.
The current stock price of $18.94 is trading 0.6% below its estimated GF Value™ of $19.05.
GuruFocus considers Energy Transfer LP to be Fairly Valued.
Key valuation signals for ET:
Gross Margin %: 18.14% (near median its 10-year median of 18.65)
GF Value™: $19.05 vs. price of $18.94 (0.6% below fair value)
Industry Position: 29.4% below the Oil & Gas median (#526 of 867)
No single metric tells the full story. See the ET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Energy Transfer is a diversified midstream firm operating from wellhead to consuming demand. It handles natural gas, natural gas liquids, crude oil, and refined products. Commodities are moved through its network of field-level gathering and processing to refineries and demand centers. Operations are concentrated in Texas and the midcontinent United States. It also controls Sunoco and USA Compression through its general partner relationship.
84GF Score
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