Ngl Energy Partners Lp Financials
This page shows Ngl Energy Partners Lp (NGL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Ngl Energy Partners Lp has an operating margin of 9.5%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 47/100, indicating healthy but not exceptional operating efficiency. This is up from 3.9% the prior year.
Ngl Energy Partners Lp's revenue declined 16.5% year-over-year, from $4.2B to $3.5B. This contraction results in a growth score of 0/100.
Ngl Energy Partners Lp's current ratio of 1.30 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.
While Ngl Energy Partners Lp generated $297.5M in operating cash flow, capex of $245.8M consumed most of it, leaving $51.6M in free cash flow. This results in a low score of 7/100, reflecting heavy capital investment rather than weak cash generation.
Ngl Energy Partners Lp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Ngl Energy Partners Lp generates $7.56 in operating cash flow ($297.5M OCF vs $39.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ngl Energy Partners Lp earns $1.2 in operating income for every $1 of interest expense ($329.4M vs $280.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Ngl Energy Partners Lp generated $3.5B in revenue in fiscal year 2025. This represents a decrease of 16.5% from the prior year.
Ngl Energy Partners Lp's EBITDA was $596.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 34.4% from the prior year.
Ngl Energy Partners Lp generated $51.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 76.9% from the prior year.
Ngl Energy Partners Lp reported $39.4M in net income in fiscal year 2025. This represents an increase of 127.4% from the prior year.
Ngl Energy Partners Lp held $5.6M in cash against $3.0B in long-term debt as of fiscal year 2025.
Ngl Energy Partners Lp's gross margin was 27.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.4 percentage points from the prior year.
Ngl Energy Partners Lp's operating margin was 9.5% in fiscal year 2025, reflecting core business profitability. This is up 5.6 percentage points from the prior year.
Ngl Energy Partners Lp's net profit margin was 1.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.6 percentage points from the prior year.
Ngl Energy Partners Lp spent $2.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 2431.0% from the prior year.
Ngl Energy Partners Lp invested $245.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 61.4% from the prior year.
NGL Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $909.8M+34.9% | $674.7M+8.4% | $622.2M-36.7% | $982.4M+29.9% | $756.5M-0.4% | $759.2M-36.5% | $1.2B+18.6% | $1.0B |
| Cost of Revenue | $646.1M+53.5% | $421.0M+10.0% | $382.8M-47.9% | $735.4M+40.6% | $522.9M-3.0% | $539.3M-42.2% | $933.1M+24.1% | $752.0M |
| Gross Profit | $263.7M+4.0% | $253.7M+6.0% | $239.3M-3.1% | $247.0M+5.8% | $233.6M+6.2% | $219.9M-16.1% | $262.1M+2.6% | $255.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $15.6M+6.0% | $14.7M+7.2% | $13.7M-8.6% | $15.0M+24.0% | $12.1M-19.0% | $15.0M-16.6% | $17.9M+2.5% | $17.5M |
| Operating Income | $109.7M+16.3% | $94.3M-3.3% | $97.5M+15.1% | $84.7M+3.9% | $81.5M-0.7% | $82.1M-19.4% | $101.8M+18.3% | $86.0M |
| Interest Expense | $63.8M-1.4% | $64.7M-1.3% | $65.5M+3.9% | $63.1M-18.3% | $77.2M+10.7% | $69.7M+21.9% | $57.2M-2.4% | $58.6M |
| Income Tax | -$119K-95.1% | -$61K+66.5% | -$182K+33.6% | -$274K-257.5% | $174K+103.6% | -$4.8M-3216.2% | $154K-55.0% | $342K |
| Net Income | $47.2M+61.1% | $29.3M-57.5% | $68.9M+410.3% | $13.5M+450.4% | $2.5M-74.7% | $9.7M-78.8% | $45.7M+63.0% | $28.0M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NGL Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.4B+1.9% | $4.3B+2.7% | $4.2B-13.6% | $4.8B-0.9% | $4.9B+1.0% | $4.8B-9.8% | $5.4B-4.7% | $5.6B |
| Current Assets | $721.4M+0.5% | $717.9M+22.6% | $585.6M-42.4% | $1.0B+1.2% | $1.0B+1.3% | $990.3M-26.1% | $1.3B-14.3% | $1.6B |
| Cash & Equivalents | $6.5M-25.2% | $8.7M+59.1% | $5.4M-4.3% | $5.7M+26.4% | $4.5M-14.7% | $5.3M+614.0% | $738K-72.5% | $2.7M |
| Inventory | $78.8M-33.2% | $118.0M+44.8% | $81.5M-39.2% | $134.1M-30.8% | $193.9M+22.2% | $158.7M-21.3% | $201.6M-19.6% | $250.6M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $599.3M0.0% | $599.3M0.0% | $599.3M-5.5% | $634.3M0.0% | $634.3M0.0% | $634.3M-10.4% | $707.6M0.0% | $707.6M |
| Total Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | $646.8M+13.4% | $570.3M+21.7% | $468.7M-44.6% | $846.5M+2.1% | $829.0M-4.1% | $864.6M-20.5% | $1.1B-16.8% | $1.3B |
| Long-Term Debt | $2.9B+0.7% | $2.9B+1.2% | $2.9B-6.8% | $3.1B-1.4% | $3.1B+3.4% | $3.0B+12.5% | $2.7B-3.5% | $2.8B |
| Total Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NGL Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $182.3M+350.6% | $40.5M+21.8% | $33.2M-78.4% | $153.8M+2189.3% | $6.7M+137.2% | -$18.1M-119.5% | $92.8M+22.2% | $76.0M |
| Capital Expenditures | $136.6M+341.4% | $30.9M+39.8% | $22.1M+1201.7% | $1.7M-98.1% | $89.6M+49.6% | $59.9M+51.9% | $39.5M-11.6% | $44.6M |
| Free Cash Flow | $45.7M+380.5% | $9.5M-14.1% | $11.1M-92.7% | $152.1M+283.5% | -$82.9M-6.3% | -$78.0M-246.1% | $53.4M+70.3% | $31.3M |
| Investing Cash Flow | -$132.0M-577.3% | -$19.5M-109.8% | $199.1M+395.2% | -$67.5M+13.3% | -$77.8M-375.8% | $28.2M+279.1% | $7.4M+113.5% | -$55.3M |
| Financing Cash Flow | -$52.5M-195.6% | -$17.7M+92.4% | -$232.6M-173.2% | -$85.1M-221.0% | $70.3M+260.6% | -$43.8M+57.2% | -$102.2M-296.7% | -$25.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $15.7M-25.0% | $21.0M+160.3% | $8.1M | $0-100.0% | $2.1M | $0-100.0% | $84K | N/A |
NGL Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.0%-8.6pp | 37.6%-0.9pp | 38.5%+13.3pp | 25.1%-5.7pp | 30.9%+1.9pp | 29.0%+7.0pp | 21.9%-3.4pp | 25.4% |
| Operating Margin | 12.0%-1.9pp | 14.0%-1.7pp | 15.7%+7.0pp | 8.6%-2.2pp | 10.8%-0.0pp | 10.8%+2.3pp | 8.5%-0.0pp | 8.5% |
| Net Margin | 5.2%+0.9pp | 4.3%-6.7pp | 11.1%+9.7pp | 1.4%+1.1pp | 0.3%-1.0pp | 1.3%-2.5pp | 3.8%+1.0pp | 2.8% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 1.1%+0.4pp | 0.7%-1.0pp | 1.7%+1.4pp | 0.3%+0.2pp | 0.1%-0.1pp | 0.2%-0.7pp | 0.9%+0.4pp | 0.5% |
| Current Ratio | 1.12-0.1 | 1.260.0 | 1.25+0.0 | 1.20-0.0 | 1.21+0.1 | 1.15-0.1 | 1.23+0.0 | 1.20 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | 5.0%+3.6pp | 1.4%-0.4pp | 1.8%-13.7pp | 15.5%+26.4pp | -11.0%-0.7pp | -10.3%-14.7pp | 4.5%+1.4pp | 3.1% |
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Frequently Asked Questions
What is Ngl Energy Partners Lp's annual revenue?
Ngl Energy Partners Lp (NGL) reported $3.5B in total revenue for fiscal year 2025. This represents a -16.5% 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 Ngl Energy Partners Lp's revenue growing?
Ngl Energy Partners Lp (NGL) revenue declined by 16.5% year-over-year, from $4.2B to $3.5B in fiscal year 2025.
Is Ngl Energy Partners Lp profitable?
Yes, Ngl Energy Partners Lp (NGL) reported a net income of $39.4M in fiscal year 2025, with a net profit margin of 1.1%.
What is Ngl Energy Partners Lp's EBITDA?
Ngl Energy Partners Lp (NGL) had EBITDA of $596.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ngl Energy Partners Lp have?
As of fiscal year 2025, Ngl Energy Partners Lp (NGL) had $5.6M in cash and equivalents against $3.0B in long-term debt.
What is Ngl Energy Partners Lp's gross margin?
Ngl Energy Partners Lp (NGL) had a gross margin of 27.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ngl Energy Partners Lp's operating margin?
Ngl Energy Partners Lp (NGL) had an operating margin of 9.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ngl Energy Partners Lp's net profit margin?
Ngl Energy Partners Lp (NGL) had a net profit margin of 1.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ngl Energy Partners Lp's free cash flow?
Ngl Energy Partners Lp (NGL) generated $51.6M in free cash flow during fiscal year 2025. This represents a -76.9% 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 Ngl Energy Partners Lp's operating cash flow?
Ngl Energy Partners Lp (NGL) generated $297.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ngl Energy Partners Lp's total assets?
Ngl Energy Partners Lp (NGL) had $4.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ngl Energy Partners Lp's capital expenditures?
Ngl Energy Partners Lp (NGL) invested $245.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Ngl Energy Partners Lp buy back shares?
Yes, Ngl Energy Partners Lp (NGL) spent $2.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
What is Ngl Energy Partners Lp's current ratio?
Ngl Energy Partners Lp (NGL) had a current ratio of 1.30 as of fiscal year 2025, which is considered adequate.
What is Ngl Energy Partners Lp's return on assets (ROA)?
Ngl Energy Partners Lp (NGL) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ngl Energy Partners Lp's Piotroski F-Score?
Ngl Energy Partners Lp (NGL) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ngl Energy Partners Lp's earnings high quality?
Ngl Energy Partners Lp (NGL) has an earnings quality ratio of 7.56x, 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 Ngl Energy Partners Lp cover its interest payments?
Ngl Energy Partners Lp (NGL) has an interest coverage ratio of 1.2x, meaning it can struggle to 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 Ngl Energy Partners Lp?
Ngl Energy Partners Lp (NGL) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.