Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). Energy Transfer LP's share price for the quarter that ended in Mar. 2026 was $19.3. Energy Transfer LP's Shares Outstanding (EOP) for the quarter that ended in Mar. 2026 was 3,441 Mil. Therefore, Energy Transfer LP's market cap for the quarter that ended in Mar. 2026 was $66,413 Mil.
Energy Transfer LP's quarterly market cap
declined
from Sep. 2025 ($58,917 Mil) to Dec. 2025 ($56,725 Mil) but then
increased
from Dec. 2025 ($56,725 Mil) to Mar. 2026 ($66,413 Mil).
Energy Transfer LP's annual market cap
increased
from Dec. 2023 ($46,472 Mil) to Dec. 2024 ($67,215 Mil) but then
declined
from Dec. 2024 ($67,215 Mil) to Dec. 2025 ($56,725 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. Energy Transfer LP's Enterprise Value for Today is $152,200 Mil.
Energy Transfer LP (NYSE:ET) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
Energy Transfer LP Market Cap Related Terms
Energy Transfer LP Market Cap Historical Data
* Premium members only.
The historical data trend for Energy Transfer LP's Market Cap 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 Market Cap, along with its competitors' market caps and Market Cap 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 Market Cap vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Energy Transfer LP's Market Cap distribution charts can be found below:
* The bar in red indicates where Energy Transfer LP's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
Energy Transfer LP's Market Cap for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Energy Transfer LP (ET) has a Market Cap of $66,518 Mil as of Jul. 05, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Energy Transfer LP and its competitors. According to the industry distribution chart, Energy Transfer LP ranks #27 out of 1043 companies in the Oil & Gas industry, placing it in the top 2.6%.
Is Energy Transfer LP's Market Cap too high?
Energy Transfer LP's current Market Cap is $66,518 Mil. The Oil & Gas industry median Market Cap is 213.65. Energy Transfer LP's value of $66,518 Mil is 31033.8% above this industry median. Based on the distribution chart, Energy Transfer LP ranks #27 out of 1043 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. 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 Market Cap compare to TRGP and KMI?
According to the Oil & Gas industry distribution chart, Energy Transfer LP ranks #27 out of 1043 companies for Market Cap. This places Energy Transfer LP in the top 3% of its industry — outperforming the majority of peers. The industry median Market Cap is 213.65. Energy Transfer LP's value of $66,518 Mil is 31033.8% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for an Oil & Gas company?
The median Market Cap among Oil & Gas companies is 213.65, based on 1,043 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Energy Transfer LP's current Market Cap of $66,518 Mil is 31033.8% above 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 Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Energy Transfer LP and its competitors. For the Oil & Gas industry, the median Market Cap is 213.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Energy Transfer LP's current Market Cap is $66,518 Mil. 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 $19.16, compared to a current price of $19.33 — trading 0.9% above its estimated fair value. The current Market Cap is $66,518 Mil and 31033.8% above the Oil & Gas industry median of 213.65. 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 Market Cap calculated?
Market Cap is calculated from a company's financial statements. For Energy Transfer LP (ET), the current Market Cap is $66,518 Mil as of Jul. 05, 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 overvalued.
The current stock price of $19.33 is trading 0.9% above its estimated GF Value™ of $19.16.
GuruFocus considers Energy Transfer LP to be Fairly Valued.
Key valuation signals for ET:
Market Cap: $66,518 Mil
GF Value™: $19.16 vs. price of $19.33 (0.9% above fair value)
Industry Position: 31033.8% above the Oil & Gas median (#27 of 1043)
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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