Enterprise Products Partners L.P. (EPD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 1, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EPD SEC filings page.
Enterprise Products Partners L.P. (EPD) reported $58.5B in revenue over the twelve months to Jun 30, 2026, up 6.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Enterprise Products’ capital-heavy model keeps earnings steady, but rising reinvestment increasingly absorbs the cash generated by operations.
Operating cash conversion remains favorable: FY2025 operating cash flow was$8.6B versus net income of$5.8B , so accounting profit becomes cash before reinvestment. Yet capital intensity is rising: capex reached$5.6B while free cash flow fell to$3.0B ; compared with earlier periods, this makes capital deployment—not weak operating conversion—the main limiter on cash retained after investment.
FY2025 revenue declined, yet gross margin recovered to
The asset base expanded to
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Enterprise Products Partners L.P.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Enterprise Products Partners L.P. has an operating margin of 13.8%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is up from 13.1% the prior year.
Enterprise Products Partners L.P.'s revenue declined 6.4% year-over-year, from $56.2B to $52.6B. This contraction results in a growth score of 51/100.
Enterprise Products Partners L.P.'s current ratio of 1.04 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.
Enterprise Products Partners L.P. has a free cash flow margin of 5.6%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.
Enterprise Products Partners L.P. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Enterprise Products Partners L.P. generates $1.48 in operating cash flow ($8.6B OCF vs $5.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Enterprise Products Partners L.P. earns $5.19 in operating income for every $1 of interest expense ($7.3B vs $1.4B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Enterprise Products Partners L.P. generated $18.3B in revenue in Q2 2026. This represents an increase of 60.8% from the same quarter a year earlier. Against the prior quarter it is up 27.0%.
Enterprise Products Partners L.P.'s EBITDA was $2.9B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.7% from the same quarter a year earlier. Against the prior quarter it is up 14.6%.
Enterprise Products Partners L.P. reported $1.8B in net income in Q2 2026. This represents an increase of 28.2% from the same quarter a year earlier. Against the prior quarter it is up 24.2%.
Not reported for Q2 2026.
Cash & Balance Sheet
Enterprise Products Partners L.P. generated $2.0B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 165.5% from the same quarter a year earlier. Against the prior quarter it is up 316.3%.
Enterprise Products Partners L.P. held $246.0M in cash against $31.2B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Enterprise Products Partners L.P.'s gross margin was 22.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 8.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.3 percentage points.
Enterprise Products Partners L.P.'s operating margin was 12.3% in Q2 2026, reflecting core business profitability. This is down 3.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
Enterprise Products Partners L.P.'s net profit margin was 10.1% in Q2 2026, showing the share of revenue converted to profit. This is down 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Not reported for Q2 2026.
Capital Allocation
Enterprise Products Partners L.P. spent $159.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 44.5% from the same quarter a year earlier. Against the prior quarter it is up 37.1%.
Enterprise Products Partners L.P. invested $1.2B in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 10.9% from the same quarter a year earlier. Against the prior quarter it is up 17.8%.
Not reported for Q2 2026.
EPD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $18.3B+60.8% | $14.4B-6.7% | $13.8B-2.9% | $12.0B-12.7% | $11.4B-15.7% | $15.4B+4.5% | $14.2B-2.9% | $13.8B+14.8% |
| Cost of Revenue | $14.2B+79.3% | $10.7B-11.1% | $10.1B-5.0% | $8.6B-17.3% | $7.9B-22.4% | $12.0B+5.3% | $10.6B-5.5% | $10.4B+18.2% |
| Gross Profit | $4.1B+18.6% | $3.7B+8.7% | $3.7B+3.4% | $3.4B+1.3% | $3.5B+5.0% | $3.4B+1.7% | $3.6B+5.9% | $3.4B+5.5% |
| SG&A Expenses | $64.0M-5.9% | $64.0M+6.7% | $62.0M+3.3% | $61.0M0.0% | $68.0M+19.3% | $60.0M-9.1% | $60.0M+1.7% | $61.0M+3.4% |
| Operating Income | $2.2B+25.3% | $1.9B+7.6% | $2.0B+2.7% | $1.7B-5.3% | $1.8B+1.7% | $1.8B-3.3% | $2.0B+2.6% | $1.8B+5.0% |
| EBITDA | $2.9B+21.7% | $2.5B+8.1% | $2.6B+3.8% | $2.3B-2.6% | $2.4B+2.3% | $2.3B-1.6% | $2.5B+2.9% | $2.3B+4.8% |
| Interest Expense | $384.0M+15.7% | $385.0M+13.2% | $375.0M+8.4% | $354.0M+3.2% | $332.0M0.0% | $340.0M+2.7% | $346.0M+6.5% | $343.0M+4.6% |
| Income Tax | $12.0M-25.0% | $22.0M-8.3% | -$4.0M-140.0% | -$13.0M-168.4% | $16.0M+6.7% | $24.0M+14.3% | $10.0M+1100.0% | $19.0M-13.6% |
| Net Income | $1.8B+28.2% | $1.5B+6.4% | $1.6B+1.5% | $1.3B-5.6% | $1.4B+2.1% | $1.4B-4.3% | $1.6B+3.3% | $1.4B+7.5% |
| Diluted Shares (Avg) | 2.19B-0.2% | 2.19B-0.2% | N/A | 2.19B-0.3% | 2.19B-0.2% | 2.19B-0.1% | N/A | 2.19B-0.1% |
Not reported in any period shown, so not listed: R&D Expenses, EPS (Basic), EPS (Diluted).
EPD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $81.8B+5.6% | $80.6B+6.8% | $77.9B+1.0% | $77.8B+3.7% | $77.4B+5.3% | $75.4B+5.7% | $77.2B+8.7% | $75.1B+7.5% |
| Current Assets | $15.9B+12.3% | $15.7B+22.8% | $13.4B-11.7% | $13.2B-8.0% | $14.2B+5.3% | $12.8B+5.5% | $15.1B+23.6% | $14.4B+25.8% |
| Cash & Equivalents | $246.0M-71.7% | $191.0M-13.2% | $969.0M+66.2% | $206.0M-85.6% | $870.0M+530.4% | $220.0M-22.3% | $583.0M+223.9% | $1.4B+738.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $4.7B+17.6% | $5.2B+61.9% | $3.9B-1.8% | $4.2B+25.3% | $4.0B+18.3% | $3.2B-0.7% | $4.0B+18.0% | $3.3B-0.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $5.7B0.0% | $5.7B0.0% | $5.7B0.0% | $5.7B+1.9% | $5.7B+1.9% | $5.7B+1.9% | $5.7B+1.9% | $5.6B0.0% |
| Current Liabilities | $17.2B+16.2% | $17.2B+15.8% | $12.8B-15.5% | $15.1B+12.3% | $14.8B-0.4% | $14.9B+14.1% | $15.2B+15.6% | $13.4B+7.4% |
| Long-Term Debt | $31.2B+0.3% | $31.2B+7.1% | $32.8B+6.6% | $31.1B+1.2% | $31.1B+10.0% | $29.1B+3.0% | $30.7B+12.0% | $30.8B+12.1% |
Not reported in any period shown, so not listed: Accounts Receivable, Total Liabilities, Non-Current Liabilities, Total Equity, Retained Earnings.
EPD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.2B+54.3% | $1.5B-36.5% | $2.5B+4.8% | $1.7B-16.1% | $2.1B+30.9% | $2.3B+9.6% | $2.4B-0.3% | $2.1B+20.6% |
| Depreciation & Amortization | $623.0M+10.3% | $612.0M+9.7% | $599.0M+7.9% | $583.0M+6.2% | $565.0M+4.2% | $558.0M+4.3% | $555.0M+3.9% | $549.0M+4.0% |
| Stock-Based Compensation | N/A | $54.0M+10.2% | N/A | $50.0M+13.6% | $50.0M+11.1% | $49.0M-12.5% | N/A | $44.0M+2.3% |
| Capital Expenditures | $1.2B-10.9% | $983.0M-7.4% | $1.3B+22.9% | $2.0B+66.8% | $1.3B+2.8% | $1.1B+1.4% | $1.1B+4.6% | $1.2B+43.0% |
| Free Cash Flow | $2.0B+165.5% | $486.0M-61.2% | $1.2B-9.9% | -$220.0M-124.5% | $762.0M+145.8% | $1.3B+17.7% | $1.3B-4.1% | $898.0M+0.1% |
| Investing Cash Flow | -$1.2B+9.4% | -$381.0M+63.6% | -$1.2B+38.3% | -$1.9B-68.0% | -$1.3B-2.5% | -$1.0B-0.9% | -$2.0B-104.7% | -$1.2B-40.8% |
| Financing Cash Flow | -$2.1B-1331.7% | -$1.9B-17.4% | -$424.0M+64.5% | -$467.0M-246.4% | -$145.0M+48.4% | -$1.7B-63.6% | -$1.2B+13.7% | $319.0M+137.0% |
| Share Buybacks | $159.0M+44.5% | $116.0M+93.3% | $50.0M-20.6% | $80.0M+5.3% | $110.0M+175.0% | $60.0M+50.0% | $63.0M-34.4% | $76.0M |
Not reported in any period shown, so not listed: Dividends Paid.
EPD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.5%-8.0pp | 25.8%+3.6pp | 27.0%+1.6pp | 28.5%+3.9pp | 30.5%+6.0pp | 22.1%-0.6pp | 25.3%+2.1pp | 24.6%-2.2pp |
| Operating Margin | 12.3%-3.5pp | 13.2%+1.8pp | 14.7%+0.8pp | 14.0%+1.1pp | 15.8%+2.7pp | 11.4%-0.9pp | 13.9%+0.7pp | 12.9%-1.2pp |
| Net Margin | 10.1%-2.6pp | 10.3%+1.3pp | 11.9%+0.5pp | 11.1%+0.8pp | 12.6%+2.2pp | 9.0%-0.8pp | 11.4%+0.7pp | 10.3%-0.7pp |
| Return on Assets | 2.3%+0.4pp | 1.8%0.0pp | 2.1%0.0pp | 1.7%-0.2pp | 1.8%-0.1pp | 1.8%-0.2pp | 2.1%-0.1pp | 1.9%0.0pp |
| Current Ratio | 0.930.0x | 0.91+0.1x | 1.040.0x | 0.88-0.2x | 0.96+0.1x | 0.86-0.1x | 1.00+0.1x | 1.07+0.2x |
| Asset Turnover | 0.22+0.1x | 0.180.0x | 0.180.0x | 0.150.0x | 0.150.0x | 0.200.0x | 0.180.0x | 0.180.0x |
| FCF Margin | 11.1%+4.4pp | 3.4%-4.7pp | 8.5%-0.7pp | -1.8%-8.3pp | 6.7%+4.4pp | 8.1%+0.9pp | 9.2%-0.1pp | 6.5%-1.0pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. EPD | FY2025 | $52.6B | $5.8B | 11.1% | $76.9B | 52/100 |
| Williams Companies Inc. WMB | FY2025 | $11.9B | $2.6B | 21.9% | $83.1B | 52/100 |
| Kinder Morgan, Inc. KMI | FY2025 | $16.9B | $3.1B | 18.0% | $67.1B | 51/100 |
| Energy Transfer LP ET | FY2025 | $85.5B | $4.4B | 5.2% | $68.1B | 49/100 |
| Oneok, Inc. OKE | FY2025 | $33.6B | $3.4B | 10.1% | $53.8B | 57/100 |
Where Enterprise Products Partners L.P. Ranks
Frequently Asked Questions
What is Enterprise Products Partners L.P.'s annual revenue?
Enterprise Products Partners L.P. (EPD) reported $52.6B in total revenue for fiscal year 2025. This represents a -6.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Enterprise Products Partners L.P.'s revenue growing?
Enterprise Products Partners L.P. (EPD) revenue declined by 6.4% year-over-year, from $56.2B to $52.6B in fiscal year 2025.
Is Enterprise Products Partners L.P. profitable?
Yes, Enterprise Products Partners L.P. (EPD) reported a net income of $5.8B in fiscal year 2025, with a net profit margin of 11.1%.
What is Enterprise Products Partners L.P.'s EBITDA?
Enterprise Products Partners L.P. (EPD) had EBITDA of $9.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Enterprise Products Partners L.P. have?
As of fiscal year 2025, Enterprise Products Partners L.P. (EPD) had $969.0M in cash and equivalents against $32.8B in long-term debt.
What is Enterprise Products Partners L.P.'s gross margin?
Enterprise Products Partners L.P. (EPD) had a gross margin of 26.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Enterprise Products Partners L.P.'s operating margin?
Enterprise Products Partners L.P. (EPD) had an operating margin of 13.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Enterprise Products Partners L.P.'s net profit margin?
Enterprise Products Partners L.P. (EPD) had a net profit margin of 11.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Enterprise Products Partners L.P.'s free cash flow?
Enterprise Products Partners L.P. (EPD) generated $3.0B in free cash flow during fiscal year 2025. This represents a -17.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Enterprise Products Partners L.P.'s operating cash flow?
Enterprise Products Partners L.P. (EPD) generated $8.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Enterprise Products Partners L.P.'s total assets?
Enterprise Products Partners L.P. (EPD) had $77.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Enterprise Products Partners L.P.'s capital expenditures?
Enterprise Products Partners L.P. (EPD) invested $5.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Enterprise Products Partners L.P.'s current ratio?
Enterprise Products Partners L.P. (EPD) had a current ratio of 1.04 as of fiscal year 2025, which is considered adequate.
What is Enterprise Products Partners L.P.'s return on assets (ROA)?
Enterprise Products Partners L.P. (EPD) had a return on assets of 7.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Enterprise Products Partners L.P.'s P/E ratio?
Enterprise Products Partners L.P. (EPD) trades at 12.2x earnings, its market capitalization divided by net income of $6.3B net income, trailing 12 months to June 30, 2026. The market capitalization is $76.9B as of Oct 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Enterprise Products Partners L.P.'s price-to-sales ratio?
Enterprise Products Partners L.P. (EPD) trades at 1.3x sales, its market capitalization divided by revenue of $58.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $76.9B as of Oct 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Enterprise Products Partners L.P.'s Piotroski F-Score?
Enterprise Products Partners L.P. (EPD) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Enterprise Products Partners L.P.'s earnings high quality?
Enterprise Products Partners L.P. (EPD) has an earnings quality ratio of 1.48x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Enterprise Products Partners L.P. cover its interest payments?
Enterprise Products Partners L.P. (EPD) has an interest coverage ratio of 5.19x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Enterprise Products Partners L.P.?
Enterprise Products Partners L.P. (EPD) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.