OakChart

Enterprise Products Partners L P

EPDEnergy·Oil & Gas Midstream·USA·Large·NYSE·Nov 13 • 7:00 AM ET

37.50+0.10 (0.27%)
2026-11-13 13:04 CET
Market cap
$80.87B
Revenue, TTM
64,145.00 USD m
Net income, TTM
6,527.00 USD m
Free cash flow, TTM
4,875.00 USD m
EPS diluted, TTM
3.01
Price / earnings
12.46
Compare

Price

EPD against its 20, 50 and 200-day averages
Terms2050200BeatEarnings
Patternshover a marker to name it
RS 23Sales 15,624Price15,62416,13534.0036.0038.0040.005.6M11.1MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26EPDclose 37.5020-day 37.2350-day 37.30200-day 37.5037.5052w high 40.1752-week range, not 6 months

6.6% under the 52-week high of 40.17 on 19 May 2026. 52-week low 31.35 on 19 Nov 2025. Last 15 sessions, 7.8% high to low

Volume 0.00× normal · the line is the 50-bar volume average

Setup. RS line 23
CANSLIM 2 of 6 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); Performance: Year +50%; Institutional Ownership: Over 50%
VCP 4 of 6 — fails: 200-Day Simple Moving Average: Price above SMA200; 50-Day Simple Moving Average: SMA50 above SMA200
Minervini 1 of 4 — fails: 200-Day Simple Moving Average: Price above SMA200; 50-Day Simple Moving Average: SMA50 above SMA200; Performance: Year +50%
Zanger 2 of 5 — fails: Performance: Week +10%; Relative Volume: Over 1.5; 200-Day Simple Moving Average: Price above SMA200
Leaders 3 of 5 — fails: 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%
Breakout 1 of 4 — fails: 52-Week High/Low: New High; Relative Volume: Over 2; 200-Day Simple Moving Average: Price above SMA200
Growth 1 of 4 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); EPS Growth Next Year: High (>25%)
Quality 2 of 5 — fails: Net Profit Margin: High (>20%); Debt/Equity: Low (<0.1); Current Ratio: Over 1
Value 2 of 4 — fails: P/B: Under 2; Debt/Equity: Low (<0.1)
Income 3 of 4 — fails: Payout Ratio: Low (<20%)
Small Cap 1 of 4 — fails: Float: Under 100M; 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%
Accumulation 1 of 4 — fails: Institutional Ownership: Over 30%; Institutional Transactions: Over +10%; 200-Day Simple Moving Average: Price above SMA200
Relative Strength 1 of 3 — fails: Performance: Year +100%; 200-Day Simple Moving Average: Price above SMA200

Profile

EPD
52-week range, 70% of the way up
31.3540.17

Enterprise Products Partners LP is a holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines and Services, Crude Oil Pipelines and Services, Natural Gas Pipelines and Services, and Petrochemical and Refined Products Services. The NGL Pipelines and Services segment manages a natural gas processing facility and a related gathering system. The Crude Oil Pipelines and Services segment owns a crude oil pipeline system. The Natural Gas Pipelines and Services segment stores and transports natural gas. The Petrochemical and Refined Products Services segment offers propylene fractionation, butane isomerization complex, octane enhancement, and refined products. The company was founded by Dan L. Duncan in April 1998 and is headquartered in Houston, TX.

Employees8000
IPOJul 28, 1998
Beta0.46
ATR, 14d0.69
Rel volume0.00
Short float1.19%
Inst own24.96%

Snapshot

6 groups

Valuation

Index-
Market Cap$80.87B
Enterprise Value115.10B
Income6.53B
Sales64.14B
Book / share14.09
Cash / share0.49
Dividend Est.2.24 (5.98%)
Dividend TTM2.22 (5.92%)
Dividend Ex-DateOct 30, 2026
Dividend Gr. 3/5Y4.74% 3.95%
Payout82.12%
Employees8000
IPOJul 28, 1998

Ratios

Price / earnings12.46
Forward price / earnings11.77
Price / earnings / growth1.34
Price / sales1.26
Price / book2.66
Price / cash76.29
Price / free cash flow16.59
Value / cash profit11.02
Value / sales1.79
Quick Ratio0.67
Current Ratio0.93
Debt / equity1.13
Long-term debt / equity1.06
Options and shortYes / Yes

Earnings

Earnings / share3.01
Earnings next year3.19
Earnings next quarter0.78
Earnings this year14.44%
Earnings next year4.68%
Earnings growth, 5 years8.77%
Past earnings growth2.06% 9.13%
Past sales growth-3.51% 14.32%
Earnings vs last year13.83%
Sales vs last year22.14%
Earnings vs last quarter21.65%
Sales vs last quarter49.43%
EarningsOct 29 BMO
Surprise0.60% 19.85%

Ownership

Insiders own-
Insider trades-
Institutions own24.96%
Institution trades0.89%
Return on assets8.08%
Return on equity21.92%
Return on capital10.45%
Gross Margin12.21%
Operating margin11.82%
Profit Margin10.18%
20-day average0.74%
50-day average0.54%
200-day average-0.01%

Technical

Shares out2.16B
Shares floating1.44B
Short / float1.19%
Short ratio5.05
Short interest17.07M
52-week high40.17 -6.6%
52-week low31.35 +19.6%
Volatility1.73% 1.94%
Average range0.69
Strength index53.40
Market sensitivity0.46
Relative volume0.00
Avg Volume3.38M
Volume17

Performance

Perf Week1.27%
Perf Month5.43%
Perf Quarter-2.87%
Perf Half Y-4.41%
Perf YTD16.97%
Perf Year18.07%
Perf 3Y44.29%
Perf 5Y60.88%
Perf 10Y48.46%
Recommendation2.36
Target Price41.80
Prev Close37.40
Price37.50
Change %0.27%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Sep 22, 2026InitiatedMeliusHold$42+12.0%
Sep 22, 2026InitiatedCapitalOneEqual Weight$42+12.0%
Sep 10, 2026ResumedStifelHold$40+6.7%
Mar 25, 2026UpgradeWells FargoEqual Weight → Overweight$42+12.0%
Mar 24, 2026InitiatedTruistHold$36-4.0%
Feb 04, 2026ReiteratedTD CowenHold$33 → $34-9.3%
Jan 14, 2026DowngradeWolfe ResearchPeer Perform → Underperform$31-17.3%
Jan 12, 2026InitiatedJefferiesHold$33-12.0%
Jan 05, 2026DowngradeRaymond JamesStrong Buy → Outperform$36-4.0%
Dec 18, 2025DowngradeMorgan StanleyEqual-Weight → Underweight$34-9.3%

Peers

Mkt cap
TickerCompanyMkt cap
ETEnergy Transfer LP66.85B
OKEOneok Inc56.02B
TRGPTarga Resources Corp63.57B
WMBWilliams Cos Inc86.81B
KMIKinder Morgan Inc71.69B
MPLXMPLX LP57.29B
ENBEnbridge Inc106.76B
PAAPlains All American Pipeline LP17.21B
TRPTC Energy Corp67.24B
WESWestern Midstream Partners LP17.26B

Insider trading

2 filings
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
TEAGUE AJCO-CHIEF EXECUTIVE OFFICERMar 20 '26Buy37.552,665100,06977,576Mar 23 04:42 PM
Rutherford John RDirectorDec 29 '25Buy32.0915,000481,334173,586Dec 29 04:06 PM

Held by

AUM
TickerCompanyAUM
EIPXFT Energy Income Partners Strategy ETFAUM: 578.03M
TPYPTortoise North American Pipeline ETFAUM: 887.87M
ESNEssential 40 Stock ETFAUM: 387.27M
USAIPacer American Energy Infrastructure ETFAUM: 124.50M
TBGTBG Dividend Focus ETFAUM: 338.13M
TOLZProShares DJ Brookfield Global Infrastructure ETFAUM: 173.80M
NBETNeuberger Energy Transition & Infrastructure ETFAUM: 55.93M
MBOXFreedom Day Dividend ETFAUM: 157.87M
BLCViShares Large Cap Value Active ETFAUM: 363.48M

News

latest 14 of 200

Quarterly earnings

2026Q3 EPS 0.750 beat 0.746, from 0.610 a year earlier. Sales 17,948 beat 14,975, from 12,023 a year earlier
EPS
0.84002024Q4 EPS 0.740 against 0.70124Q42025Q1 EPS 0.640 against 0.70525Q12025Q2 EPS 0.660 against 0.64525Q22025Q3 EPS 0.610 against 0.67125Q32025Q4 EPS 0.750 against 0.69025Q42026Q1 EPS 0.680 against 0.71426Q12026Q2 EPS 0.840 against 0.74826Q22026Q3 EPS 0.750 against 0.74626Q3
Sales, USD millions
18,26902024Q4 sales 14,201 against 14,12624Q42025Q1 sales 15,417 against 14,00025Q12025Q2 sales 11,363 against 14,17625Q22025Q3 sales 12,023 against 11,79925Q32025Q4 sales 13,793 against 12,36425Q42026Q1 sales 14,386 against 13,61626Q12026Q2 sales 18,269 against 13,68826Q22026Q3 sales 17,948 against 14,97526Q3

The outline behind the bar is the estimate. The filled bar is the print. Green beat it, red missed it.

PeriodReportedEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mSurpriseYear-ago quarterAnalystsNext session
2026Q3ended 2026-09-302026-10-29 08:300.7500.7460.75017,94814,975EPS +0.6% · sales +19.9%vs 2025Q3, year-ago quarter · EPS +23.0% · sales +49.3%16 EPS · 8 salesOpen +1.23% vs SPY -0.46%. Close +2.60% vs SPY -0.38%
2026Q2ended 2026-06-302026-07-30 08:300.8400.7480.84218,26913,688EPS +12.2% · sales +33.5%vs 2025Q2, year-ago quarter · EPS +27.3% · sales +60.8%14 EPS · 5 salesOpen +1.42% vs SPY +0.90%. Close -1.42% vs SPY +1.68%
2026Q1ended 2026-03-312026-04-28 08:300.6800.7140.67814,38613,616EPS -4.8% · sales +5.7%vs 2025Q1, year-ago quarter · EPS +6.3% · sales -6.7%15 EPS · 5 salesOpen +0.73% vs SPY -0.47%. Close +0.65% vs SPY -0.49%
2025Q4ended 2025-12-312026-02-03 08:300.7500.6900.74513,79312,364EPS +8.8% · sales +11.6%vs 2024Q4, year-ago quarter · EPS +1.4% · sales -2.9%14 EPS · 6 salesOpen +2.72% vs SPY +0.12%. Close +4.62% vs SPY -0.85%
2025Q3ended 2025-09-302025-10-30 08:300.6100.6710.61212,02311,799EPS -9.1% · sales +1.9%vs 2024Q3, year-ago quarter · EPS -6.2% · sales -12.7%13 EPS · 6 salesOpen -0.64% vs SPY -0.51%. Close +1.48% vs SPY -1.10%
2025Q2ended 2025-06-302025-07-28 08:300.6600.6450.65511,36314,176EPS +2.4% · sales -19.8%vs 2024Q2, year-ago quarter · EPS +3.1% · sales -15.7%13 EPS · 6 salesOpen +0.79% vs SPY +0.06%. Close -1.27% vs SPY -0.03%
2025Q1ended 2025-03-312025-04-29 08:300.6400.7050.63615,41714,000EPS -9.2% · sales +10.1%vs 2024Q1, year-ago quarter · EPS -3.0% · sales +4.5%12 EPS · 5 salesOpen -1.02% vs SPY -0.35%. Close -1.85% vs SPY +0.63%
2024Q4ended 2024-12-312025-02-04 08:300.7400.7010.73914,20114,126EPS +5.6% · sales +0.5%vs 2023Q4, year-ago quarter · EPS +2.8% · sales -2.9%12 EPS · 5 salesOpen -3.29% vs SPY +0.01%. Close -0.42% vs SPY +0.67%
2024Q3ended 2024-09-302024-10-29 08:300.6500.6650.64613,77513,872EPS -2.2% · sales -0.7%vs 2023Q3, year-ago quarter · EPS +8.3% · sales +14.8%12 EPS · 5 salesOpen +0.55% vs SPY -0.17%. Close -0.14% vs SPY +0.16%
2024Q2ended 2024-06-302024-07-30 08:300.6400.6610.64013,48314,230EPS -3.1% · sales -5.3%vs 2023Q2, year-ago quarter · EPS +12.3% · sales +26.6%13 EPS · 6 salesOpen +0.44% vs SPY +0.28%. Close -0.47% vs SPY -0.51%
2024Q1ended 2024-03-312024-04-30 08:300.6600.6690.66414,76013,816EPS -1.3% · sales +6.8%vs 2023Q1, year-ago quarter · EPS +3.1% · sales +18.6%11 EPS · 5 salesOpen +0.03% vs SPY -0.29%. Close -1.78% vs SPY -1.58%
2023Q4ended 2023-12-312024-02-01 08:300.7200.6780.71514,62212,431EPS +6.2% · sales +17.6%vs 2022Q4, year-ago quarter · EPS +10.4% · sales +7.1%13 EPS · 5 salesOpen +0.26% vs SPY +0.36%. Close +0.15% vs SPY +1.31%
2023Q3ended 2023-09-302023-10-31 08:300.6000.6400.60111,99811,081EPS -6.2% · sales +8.3%vs 2022Q3, year-ago quarter · EPS -5.2% · sales -22.4%15 EPS · 5 sales-
2023Q2ended 2023-06-302023-08-01 08:300.5700.5810.57110,65112,339EPS -1.9% · sales -13.7%vs 2022Q2, year-ago quarter · EPS -10.9% · sales -33.7%14 EPS · 4 sales-
2023Q1ended 2023-03-312023-05-02 08:300.6400.6150.63312,44414,086EPS +4.1% · sales -11.7%vs 2022Q1, year-ago quarter · EPS +6.7% · sales -4.3%13 EPS · 3 sales-
2022Q4ended 2022-12-312023-02-01 08:300.6520.6220.64713,65015,444EPS +4.9% · sales -11.6%vs 2021Q4, year-ago quarter · EPS +38.8% · sales +20.1%14 EPS · 7 sales-

Annual earnings

2025FY EPS 2.660 beat 2.611, from 2.690 a year earlier. Sales 52,596 beat 51,600, from 56,219 a year earlier
EPS
2.69002018FY EPS 1.930 against 1.85620182019FY EPS 2.090 against 2.13020192020FY EPS 1.710 against 2.07220202021FY EPS 2.206 against 2.19520212022FY EPS 2.524 against 2.48720222023FY EPS 2.520 against 2.49820232024FY EPS 2.690 against 2.67020242025FY EPS 2.660 against 2.6112025
Sales, USD millions
58,60602018FY sales 36,534 against 37,25020182019FY sales 32,789 against 33,38620192020FY sales 27,200 against 28,33020202021FY sales 40,807 against 40,10720212022FY sales 58,186 against 58,60620222023FY sales 49,715 against 48,26320232024FY sales 56,219 against 56,26620242025FY sales 52,596 against 51,6002025

Reported years only. The outline behind the bar is the estimate. A later year with no print stays in the table.

earnings feed, not the snapshot. Not the statement ratio.

PeriodEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mP/E, earnings feed
2030FYestimate-3.666--75,75310.23
2029FYestimate-3.444--70,37410.89
2028FYestimate-3.423--72,94810.96
2027FYestimate-3.187--68,08511.77
2026FYestimate-3.044--65,19712.32
2025FY2.6602.6112.66052,59651,60012.05
2024FY2.6902.6702.66556,21956,26611.66
2023FY2.5202.4982.49749,71548,26310.46
2022FY2.5242.4872.47458,18658,6069.56
2021FY2.2062.1952.08740,80740,1079.96
2020FY1.7102.0721.70027,20028,33011.46
2019FY2.0902.1302.07332,78933,38613.47
2018FY1.9301.8561.90736,53437,25012.74
2017FY1.3201.3031.29829,24227,66120.08
2016FY1.2001.2131.20023,02222,46622.53
2015FY1.3101.2911.26027,02829,32128.63
2014FY1.4501.4971.47047,95151,12925.86
2013FY1.4101.3821.41047,72746,59526.60
2012FY1.3551.3171.35542,52544,16727.68
2011FY1.1901.0561.19044,31343,76531.51
2010FY0.8800.9280.57533,73932,96442.61

Quarterly results

2026Q3 revenue 17,921, from 11,993 a year earlier. Operating margin 10.4%, from 13.3% a year earlier
Revenue, USD millions
18,38402024Q4 revenue 13,84424Q42025Q1 revenue 15,45225Q12025Q2 revenue 11,22825Q22025Q3 revenue 11,99325Q32025Q4 revenue 13,40625Q42026Q1 revenue 14,43426Q12026Q2 revenue 18,38426Q22026Q3 revenue 17,92126Q3
Operating margin
14.102024Q4 operating margin 11.1%24Q42025Q1 operating margin 11.2%25Q12025Q2 operating margin 14.1%25Q22025Q3 operating margin 13.3%25Q32025Q4 operating margin 11.5%25Q42026Q1 operating margin 13.1%26Q12026Q2 operating margin 12.4%26Q22026Q3 operating margin 10.4%26Q3

From the quarterly statement. Not an estimate.

Estimate revisions

Latest snapshot of each period and type. 2026FY E 3.04 per share.
PeriodTypeScaleDateMeanvs prior date
2026FYEper share2026-11-113.040.0%
2026FYRper share2026-11-113.040.0%
2026Q4Eper share2026-11-100.78+0.4%
2026Q4Rper share2026-11-100.78+0.4%
2026FYSUSD millions2026-11-0665,197+0.3%
2026Q4SUSD millions2026-11-0615,624-1.5%
2026Q3Eper share2026-10-260.750.0%
2026Q3Rper share2026-10-260.750.0%
2026Q3SUSD millions2026-10-2614,9750.0%
2026Q2Eper share2026-07-280.75+0.3%
2026Q2Rper share2026-07-280.75+0.3%
2026Q2SUSD millions2026-07-2313,688+0.9%
2026Q1Eper share2026-04-240.71+0.0%
2026Q1Rper share2026-04-210.73+0.6%
2026Q1SUSD millions2026-04-2113,616+0.3%
2025FYEper share2026-02-032.610.0%
2025Q4Eper share2026-02-030.690.0%
2025FYRper share2026-02-032.610.0%
2025Q4Rper share2026-02-030.700.0%
2025FYSUSD millions2026-02-0351,6000.0%
2025Q4SUSD millions2026-02-0312,3640.0%
2025Q3Eper share2025-10-270.670.0%
2025Q3Rper share2025-10-230.67-0.3%
2025Q3SUSD millions2025-10-2311,799-0.3%
2025Q2Eper share2025-07-160.64-0.3%
2025Q2Rper share2025-07-160.65+1.0%
2025Q2SUSD millions2025-07-1614,176-2.2%
2025Q1Eper share2025-04-210.710.0%
2025Q1Rper share2025-04-210.73-0.7%
2025Q1SUSD millions2025-04-2114,000-0.3%
2024FYEper share2025-01-312.670.0%
2024Q4Eper share2025-01-310.70+0.2%
2024FYSUSD millions2025-01-3156,266+0.0%
2024Q4SUSD millions2025-01-3114,126+0.4%
2024FYRper share2025-01-282.660.0%
2024Q4Rper share2025-01-270.71-1.1%
2024Q3Eper share2024-10-250.660.0%
2024Q3Rper share2024-10-180.66-0.4%
2024Q3SUSD millions2024-10-1813,872-0.2%
2024Q2Eper share2024-07-260.66+0.5%
2024Q2Rper share2024-07-250.65-0.6%
2024Q2SUSD millions2024-07-2514,230-0.2%
2024Q1Eper share2024-04-260.67-0.1%
2024Q1SUSD millions2024-04-1913,816-0.2%
2024Q1Rper share2024-04-160.670.0%
2023FYEper share2024-01-302.500.0%
2023FYRper share2024-01-302.520.0%
2023FYSUSD millions2024-01-3048,2630.0%

Estimate history

Annual
Metric201720182019202020212022202320242025TTMMRQ
EPS per share1.2981.9072.0731.72.0872.4742.4972.6652.633.0094-
Sales USD millions29,36736,86232,52626,67141,56757,96849,40355,68452,07964,145-
Shares million shares2,1612,1852,1892,1822,1762,1712,1682,1662,162-2,157
Quarterly
MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
EPS per share0.6460.7390.6360.6550.6120.7450.6780.8420.745
Sales USD millions13,69113,84415,45211,22811,99313,40614,43418,38417,921
Shares million shares2,1682,1662,1692,1662,1632,1622,1642,1592,157

Income statement, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Total Revenue64,145.0052,079.00-6.5%55,684.00+12.7%49,403.00-14.8%57,968.00+39.5%41,566.80+55.9%26,671.00-18.0%32,525.50-11.8%36,862.40
Cost of Goods Sold Incl. D&A56,315.0045,366.00-7.2%48,911.00+13.8%42,979.00-16.5%51,501.00+47.9%34,818.30+61.3%21,585.20-20.1%27,012.70-14.2%31,487.00
Gross Profit7,830.006,713.00-0.9%6,773.00+5.4%6,424.00-0.7%6,467.00-4.2%6,748.50+32.7%5,085.80-7.7%5,512.80+2.6%5,375.40
Selling, General and Administrative Excl. Other250.00251.00+2.9%244.00+5.6%231.00-4.1%241.00+11.4%216.30+98.1%109.20-1.4%110.70+6.8%103.70
Other Operating Expense0.000.000.000.000.000.000.000.000.00
Operating Income7,580.006,462.00-1.0%6,529.00+5.4%6,193.00-0.5%6,226.00-4.7%6,532.20+31.3%4,976.60-7.9%5,402.10+2.5%5,271.70
Interest Expense1,534.001,408.00+3.7%1,358.00+6.6%1,274.00+4.0%1,225.00-1.6%1,244.70-0.3%1,248.10+12.4%1,110.80+4.9%1,058.60
Unusual Expense-228.00-237.00-225.00-174.00-8800.0%2.00-98.0%98.60-84.8%647.00+162.2%246.80-52.4%519.00
Net Income Before Taxes6,697.005,899.00-2.3%6,035.00+5.9%5,701.00+0.1%5,697.00+18.1%4,825.30+28.3%3,761.40-20.5%4,732.70+10.1%4,298.80
Income Taxes47.0023.00-64.6%65.00+47.7%44.00-46.3%82.00+17.1%70.00-124.30-372.6%45.60-24.4%60.30
Consolidated Net Income6,587.005,821.00-1.6%5,914.00+5.5%5,607.00+0.7%5,569.00+18.0%4,718.30+22.4%3,853.70-17.3%4,659.40+10.5%4,217.00
Net Income From Continuing Operations6,531.005,759.00-1.5%5,845.00+6.6%5,482.00+0.7%5,444.00+18.3%4,600.70+22.9%3,743.60-18.0%4,563.60+9.9%4,150.90
Net Income6,527.005,755.00-1.5%5,841.00+6.6%5,479.00+0.7%5,441.00+18.4%4,597.10+22.8%3,742.70-18.0%4,563.60+9.9%4,150.90
EPS (Recurring) per share2.942.55-1.5%2.59+6.1%2.44-1.2%2.47+16.5%2.12+11.0%1.91-11.2%2.15+3.9%2.07
EPS (Basic, Before Extraordinaries) per share3.022.66-1.1%2.69+6.7%2.52+0.8%2.50+18.5%2.11+23.4%1.71-18.2%2.09+9.4%1.91
EPS (Diluted) per share3.012.63-1.1%2.66+6.4%2.50+1.2%2.47+18.2%2.09+22.9%1.70-17.9%2.07+8.4%1.91
EBITDA10,444.009,194.00+1.1%9,097.00+9.1%8,337.00+0.9%8,259.00-2.2%8,447.20+19.2%7,087.50-4.1%7,394.20+4.7%7,063.30
Non-Operating Income (Expense)423.00608.00-4.9%639.00+5.1%608.00-12.9%698.00-363.60-153.5%679.90-1.2%688.20+13.8%604.70
Other After Tax Adjustments-63.00-55.00-56.00-50.00-46.00-37.00-32.00-27.70-21.50
Stock Option Compensation Expense170.64155.63+4.8%148.52+9.3%135.88-13.5%157.00+3.1%152.30+31.1%116.14+10.6%105.05+25.3%83.82
Price To Earnings Ratio ratio statement ratio, not the snapshot12.4312.4311.7610.7510.4310.4611.4513.5712.93
Price To Sales Ratio ratio1.211.351.231.170.911.161.621.911.45
Gross Margin %12.2112.8912.1613.0011.1616.2419.0716.9514.58
Operating Margin %11.8212.4111.7312.5410.7415.7118.6616.6114.30
Net Margin %10.1811.0510.4911.099.3911.0614.0314.0311.26
Shares Outstanding million shares2,156.602,161.76-0.2%2,165.70-0.1%2,168.25-0.1%2,170.81-0.3%2,176.38-0.3%2,182.31-0.3%2,189.23+0.2%2,184.87
Market Capitalization80,656.8480,656.84+18.7%67,975.00+18.8%57,229.04+9.1%52,474.75+9.5%47,919.57+12.1%42,762.62-30.6%61,647.03+14.9%53,671.61

Income statement, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Total Revenue17,921.00+49.4%18,384.00+63.7%14,434.00-6.6%13,406.00-3.2%11,993.00-12.4%11,228.00-16.4%15,452.00+5.0%13,844.00-3.2%
Cost of Goods Sold Incl. D&A15,990.00+54.7%16,047.00+67.6%12,481.00-8.7%11,797.00-3.7%10,338.00-13.8%9,577.00-18.4%13,668.00+5.7%12,245.00-3.6%
Gross Profit1,931.00+16.7%2,337.00+41.6%1,953.00+9.5%1,609.00+0.6%1,655.00-2.6%1,651.00-2.2%1,784.00-0.2%1,599.00-0.3%
Selling, General and Administrative Excl. Other60.00-1.6%64.00-5.9%64.00+6.7%62.00+3.3%61.000.0%68.00+19.3%60.00-9.1%60.00+1.7%
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income1,871.00+17.4%2,273.00+43.6%1,889.00+9.6%1,547.00+0.5%1,594.00-2.7%1,583.00-3.0%1,724.00+0.2%1,539.00-0.4%
Interest Expense384.00+7.9%386.00+15.6%387.00+13.5%377.00+8.6%356.00+3.2%334.00+0.3%341.00+2.4%347.00+6.1%
Unusual Expense-48.00-265.5%-49.00110.00+233.3%-241.0029.00-17.1%-54.00-775.0%33.00+1000.0%-269.00
Net Income Before Taxes1,655.00+23.2%1,868.00+27.1%1,518.00+6.2%1,656.00+0.8%1,343.00-7.4%1,470.00+2.3%1,430.00-4.9%1,643.00+2.6%
Income Taxes17.0012.00-25.0%22.00-8.3%-4.00-140.0%-13.00-168.4%16.00+6.7%24.00+14.3%10.00
Consolidated Net Income1,623.00+20.8%1,839.00+27.7%1,481.00+6.3%1,644.00+0.7%1,344.00-5.2%1,440.00+2.2%1,393.00-5.2%1,633.00+1.9%
Net Income From Continuing Operations1,610.00+21.3%1,824.00+28.3%1,468.00+6.3%1,629.00+0.6%1,327.00-5.5%1,422.00+2.1%1,381.00-4.3%1,620.00+3.3%
Net Income1,609.00+21.3%1,823.00+28.3%1,467.00+6.3%1,628.00+0.6%1,326.00-5.5%1,421.00+2.1%1,380.00-4.3%1,619.00+3.3%
EPS (Recurring) per share0.73+17.7%0.83+29.7%0.71+9.2%0.67+3.1%0.62-6.1%0.640.0%0.65-1.5%0.65-1.5%
EPS (Basic, Before Extraordinaries) per share0.75+23.0%0.84+27.3%0.68+6.3%0.750.0%0.61-6.2%0.66+3.1%0.64-3.0%0.75+4.2%
EPS (Diluted) per share0.74+21.3%0.84+27.3%0.68+6.3%0.75+1.4%0.61-6.2%0.66+3.1%0.64-3.0%0.74+2.8%
EBITDA2,598.00+14.8%2,993.00+34.0%2,595.00+9.2%2,258.00+2.9%2,263.00-0.3%2,233.00-0.9%2,377.00+1.3%2,194.00+4.8%
Non-Operating Income (Expense)120.00-10.4%-68.00-140.7%126.00+57.5%245.00+34.6%134.00-30.2%167.00+14.4%80.00-32.8%182.00-10.3%
Other After Tax Adjustments-15.00-17.00-15.00-16.00-12.00-14.00-13.000.00
Stock Option Compensation Expense45.82+16.0%44.24+12.0%42.66+10.2%37.92+11.6%39.50+13.6%39.50+11.1%38.71-12.5%33.970.0%
Price To Earnings Ratio ratio statement ratio, not the snapshot12.4313.6714.2912.1311.6811.6512.6911.76
Price To Sales Ratio ratio1.211.381.621.351.301.251.331.23
Gross Margin %10.7812.7113.5312.0013.8014.7011.5511.55
Operating Margin %10.4412.3613.0911.5413.2914.1011.1611.12
Net Margin %8.989.9210.1612.1411.0612.668.9311.69
Shares Outstanding million shares2,156.60-0.3%2,159.48-0.3%2,163.52-0.2%2,161.76-0.2%2,163.13-0.2%2,165.56-0.2%2,168.90-0.1%2,165.70-0.1%
Market Capitalization80,656.84+19.1%79,531.00+18.2%81,801.00+10.6%69,356.04+2.0%67,707.37+7.2%67,257.59+6.9%73,937.00+16.9%67,975.00+18.8%

Balance sheet, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/20182017FY12/31/2017
Cash & Short Term Investments1,679.00+22.4%1,372.00+105.7%667.00-1.2%675.00-78.9%3,201.20+130.9%1,386.70+158.1%537.20-4.8%564.50+152.3%223.70
Short Term Receivables6,501.00-29.7%9,249.00+18.8%7,783.00+11.5%6,981.00-0.3%7,002.80+45.1%4,827.00-1.4%4,893.70+33.1%3,675.90-15.7%4,360.20
Inventories3,884.00-1.8%3,955.00+18.0%3,352.00+31.2%2,554.00-4.7%2,681.00-18.8%3,303.50+58.0%2,091.40+37.4%1,522.10-5.4%1,609.80
Other Current Assets1,296.00+132.7%557.00+24.9%446.00+14.9%388.00+0.9%384.40-2.0%392.20+15.1%340.60+14.2%298.20-4.6%312.70
Total Current Assets13,360.00-11.7%15,133.00+23.6%12,248.00+15.6%10,598.00-20.1%13,269.40+33.9%9,909.40+26.0%7,862.90+29.7%6,060.70-6.9%6,506.40
Net Property, Plant & Equipment51,796.00+4.6%49,497.00+7.2%46,168.00+3.1%44,766.00+5.5%42,433.30+0.4%42,244.80+1.0%41,813.60+7.9%38,737.60+8.8%35,620.40
Total Investments and Advances2,211.00-3.9%2,300.00-5.5%2,433.00+1.6%2,395.00-1.5%2,430.40-8.6%2,658.20+2.2%2,600.80-0.8%2,622.60-1.7%2,667.70
Intangible Assets9,871.00+1.6%9,717.00+3.6%9,378.00-2.0%9,573.00+11.3%8,599.50-1.8%8,758.00-4.7%9,194.20-1.7%9,353.60-0.9%9,435.50
Deferred Tax Assets76.00+26.7%60.00+20.0%50.00+1150.0%4.00+37.9%2.90+20.8%2.40---
Other Assets664.00+27.4%521.00-31.0%755.00-2.7%776.00-2.1%793.00+47.9%536.30+104.9%261.70+34.0%195.30+3.8%188.10
Total Assets77,978.00+1.0%77,228.00+8.7%71,032.00+4.3%68,112.00+0.9%67,528.50+5.3%64,109.10+3.8%61,733.20+8.4%56,969.80+4.7%54,418.10
Short Term Debt Incl. Current Port. of LT Debt1,722.00+37.1%1,256.00-8.7%1,375.00-23.8%1,804.00+25.6%1,436.10+6.2%1,352.80-33.1%2,022.30+34.8%1,500.10-47.5%2,855.00
Accounts Payable1,238.00-13.1%1,425.00+2.2%1,394.00+43.0%975.00+22.1%798.60-6.5%854.10-26.8%1,166.80-6.1%1,243.00+33.8%929.00
Other Current Liabilities9,872.00-21.0%12,496.00+20.6%10,362.00+9.2%9,486.00+1.0%9,389.80+38.5%6,781.10+14.1%5,940.60+34.3%4,424.40-19.7%5,511.10
Total Current Liabilities12,832.00-15.5%15,177.00+15.6%13,131.00+7.1%12,265.00+5.5%11,624.50+29.3%8,988.00-1.6%9,129.70+27.4%7,167.50-22.9%9,295.10
Long Term Debt33,204.00+6.5%31,165.00+12.0%27,820.00+3.3%26,941.00-5.5%28,523.40-1.2%28,861.50+11.8%25,814.80+4.6%24,678.10+13.7%21,713.70
Provision for Risks Charges285.00+10.0%259.00+17.2%221.00+3.3%214.00+34.6%159.00+15.6%137.60+8.4%126.90+1.5%125.00+46.0%85.60
Deferred Tax Liabilities778.00+8.7%716.00+8.3%661.00+9.4%604.00+16.0%520.90+11.5%467.10+365.2%100.40+24.9%80.40+37.4%58.50
Other Liabilities309.00-4.0%322.00-26.8%440.00+14.0%386.00+47.2%262.20+14.9%228.20-68.9%733.90+17.1%626.60+27.2%492.80
Total Liabilities47,408.00-0.5%47,639.00+12.7%42,273.00+4.6%40,410.00-1.7%41,090.00+6.2%38,682.40+7.7%35,905.70+9.9%32,677.60+3.3%31,645.70
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.00-100.0%49.300.000.000.00
Common Equity29,739.00+3.5%28,732.00+3.8%27,673.00+3.9%26,623.00+5.1%25,328.90+4.2%24,304.10-1.9%24,764.00+3.8%23,853.50+5.8%22,547.20
Total Shareholders Equity29,739.00+3.5%28,732.00+3.8%27,673.00+3.9%26,623.00+5.1%25,328.90+4.0%24,353.40-1.7%24,764.00+3.8%23,853.50+5.8%22,547.20
Accumulated Minority Interest831.00-3.0%857.00-21.1%1,086.00+0.6%1,079.00-2.8%1,109.60+3.4%1,073.30+0.9%1,063.50+142.4%438.70+94.8%225.20
Total Equity30,570.00+3.3%29,589.00+2.9%28,759.00+3.8%27,702.00+4.8%26,438.50+4.0%25,426.70-1.6%25,827.50+6.3%24,292.20+6.7%22,772.40
Total Liabilities & Stockholders Equity77,978.00+1.0%77,228.00+8.7%71,032.00+4.3%68,112.00+0.9%67,528.50+5.3%64,109.10+3.8%61,733.20+8.4%56,969.80+4.7%54,418.10
Book Value Per Share per share13.76+3.7%13.27+4.0%12.76+4.1%12.26+5.3%11.64+4.5%11.14-1.5%11.31+3.6%10.92+4.7%10.43
Tangible Book Value Per Share per share9.19+4.7%8.78+4.0%8.44+7.5%7.85+2.1%7.69+8.0%7.12+0.1%7.11+7.1%6.64+9.4%6.07
Full-Time Employees people8,000+2.6%7,800+4.0%7,500+2.7%7,300+5.6%6,911-3.1%7,130-2.3%7,300+4.3%7,0000.0%7,000
Price to Book Ratio ratio2.652.402.111.991.891.762.492.252.56
Return on Assets %7.427.887.888.036.995.957.697.455.22
Return on Equity %19.7020.7320.1920.9618.5215.2418.7717.8912.48
Return on Invested Capital %9.159.769.8810.168.547.039.028.556.29
Quick Ratio ratio0.740.740.680.660.910.730.630.630.53
Current Ratio ratio1.041.000.930.861.141.100.860.850.70

Cash flow, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Net Income6,650.005,876.00-1.6%5,970.00+5.5%5,657.00+0.7%5,615.00+18.1%4,755.30+22.4%3,885.70-17.1%4,687.10+10.6%4,238.50
Depreciation2,900.002,732.00+6.4%2,568.00+19.8%2,144.00+5.5%2,033.00+6.2%1,915.00-9.3%2,110.90+6.0%1,992.10+11.2%1,791.60
Other Funds (Non Cash)136.00129.00+13.2%114.00-67.6%352.00-27.1%483.000.0%483.00-51.6%997.20+191.6%342.00+214.9%108.60
Funds from Operations9,763.008,783.00+1.0%8,697.00+6.5%8,165.00-0.3%8,191.00+13.9%7,193.10+5.1%6,846.20-2.8%7,041.20+14.3%6,160.10
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-388.00-124.00-505.00-554.00-54.00-104.0%1,365.70-767.20-457.40-2923.5%16.20
Cash from Operating Activities9,375.008,659.00+5.7%8,192.00+7.6%7,611.00-6.5%8,137.00-4.9%8,558.80+40.8%6,079.00-7.7%6,583.80+6.6%6,176.30
Capital Expenditures-4,500.00-5,620.00-4,544.00-3,266.00-1,964.00-2,223.20-3,287.90-4,531.70-4,223.20
Net Assets From Acquisitions0.000.00-1,349.000.00-3,204.000.000.000.00-150.60
Sale of Fixed Assets and Businesses661.0082.00+485.7%14.00-66.7%42.00-65.6%122.00+89.7%64.30+402.3%12.80-37.9%20.60-87.2%161.20
Purchase or Sale of Investments-1.00-2.000.00-2.00-1.00-2.10-15.60-111.60-113.60
Purchase of Investments-1.00-2.000.00-2.00-1.00-2.10-15.60-111.60-113.60
Sale Or Maturity of Investments0.000.000.000.00-0.000.000.000.00
Other Uses-34.00-25.00-31.00-13.00-5.00-19.90-17.50-16.10-5.40
Other Sources0.000.000.000.000.000.000.000.000.00
Cash from Investing Activities-3,874.00-5,565.00-5,910.00-3,239.00-5,052.00-2,180.90-3,308.20-4,638.80-4,331.60
Cash Dividends Paid-4,767.00-4,678.00-4,512.00-4,301.00-4,095.00-3,930.40-3,891.00-3,839.80-3,726.90
Change in Capital Stock-437.00-300.00-219.00-188.00-250.00-213.90-154.80-14172.7%1.10-99.8%507.60
Repurchase of Common Pref Stock-437.00-300.00-219.00-188.00-250.00-213.90-186.30-81.10-30.80
Sale of Common Pref Stock0.000.000.000.000.000.00-100.0%31.50-61.7%82.20-84.7%538.40
Proceedsfrom Stock Options0.000.000.000.000.000.00-100.0%31.50-61.7%82.20-84.7%538.40
Issuance or Reduction of Debt, Net-159.002,468.00-21.0%3,125.00+618.4%435.00-1,256.00-348.90-115.7%2,219.20+55.4%1,428.50-9.7%1,582.50
Change in Long Term Debt-159.002,468.00-21.0%3,125.00+618.4%435.00-1,256.00-348.90-115.7%2,219.20+55.4%1,428.50-9.7%1,582.50
Issuance of Long Term Debt92,364.0088,239.00+64.4%53,671.00-40.3%89,882.00-6.5%96,139.00+762.8%11,142.90+68.2%6,625.80-88.6%58,145.00-26.9%79,539.60
Reduction of Long Term Debt-92,523.00-85,771.00-50,546.00-89,447.00-97,395.00-11,491.80-4,406.60-56,716.50-77,957.10
Net Financing Active Other Cash Flow-231.00-177.00-158.00-204.00-243.00-78.10-196.10-142.2%465.10+252.6%131.90
Other Financing Activities Uses-232.00-196.00-248.00-269.00-250.00-225.70-227.00-167.70-128.30
Cash from Financing Activities-5,594.00-2,687.00-1,764.00-4,258.00-5,844.00-4,571.30-2,022.70-1,945.10-1,504.90
Net Change in Cash-93.00407.00-21.4%518.00+354.4%114.00-2,759.00-252.7%1,806.60+141.5%748.10-0.10-100.0%339.80
Free Cash Flow4,875.003,039.00-16.7%3,648.00-16.0%4,345.00-29.6%6,173.00-2.6%6,335.60+127.0%2,791.10+36.0%2,052.10+5.1%1,953.10
Preferred Dividends (Cash Flow)-------0.000.00
Price to Free Cash Flow ratio719.12--1,313.9125.5220.12---
Deferred Taxes & Investment Tax Credit-46.00+2.2%45.00+275.0%12.00-80.0%60.00+50.8%39.80-147.60-838.0%20.00-6.5%21.40

Balance sheet, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Cash & Short Term Investments1,060.00+19.9%1,004.00-43.8%1,385.00+29.6%1,679.00+22.4%884.00-61.5%1,785.00+98.6%1,069.00+51.2%1,372.00+105.7%
Short Term Receivables10,624.00+41.2%9,410.00+24.3%8,354.00+6.2%6,501.00-29.7%7,523.00-8.4%7,570.00-12.6%7,864.00+3.4%9,249.00+18.8%
Inventories4,907.00+18.0%4,666.00+17.6%5,234.00+61.9%3,884.00-1.8%4,160.00+25.3%3,969.00+18.3%3,233.00-0.7%3,955.00+18.0%
Other Current Assets890.00+32.8%825.00-1.3%704.00+17.9%1,296.00+132.7%670.00+20.3%836.00+55.7%597.00+14.1%557.00+24.9%
Total Current Assets17,481.00+32.1%15,905.00+12.3%15,677.00+22.8%13,360.00-11.7%13,237.00-8.0%14,160.00+5.3%12,763.00+5.5%15,133.00+23.6%
Net Property, Plant & Equipment53,325.00+2.8%52,981.00+4.1%52,148.00+4.0%51,796.00+4.6%51,886.00+7.0%50,890.00+6.3%50,132.00+7.1%49,497.00+7.2%
Total Investments and Advances2,181.00-2.0%2,213.00-1.7%2,232.00-3.6%2,211.00-3.9%2,225.00-8.4%2,251.00-5.8%2,315.00-25.0%2,300.00-5.5%
Intangible Assets9,700.00-2.2%9,763.00+1.5%9,815.00+1.6%9,871.00+1.6%9,919.00+7.5%9,614.00+3.6%9,665.00+3.6%9,717.00+3.6%
Deferred Tax Assets76.00+11.8%77.00+8.5%79.00+27.4%76.00+26.7%68.00+17.2%71.00+26.8%62.00+19.2%60.00+20.0%
Other Assets972.00+75.1%896.00+70.0%687.00+29.4%664.00+27.4%555.00+8.4%527.00-8.7%531.00+865.5%521.00-31.0%
Total Assets83,735.00+7.5%81,835.00+5.6%80,638.00+6.9%77,978.00+1.0%77,890.00+3.7%77,513.00+5.3%75,468.00+5.7%77,228.00+8.7%
Short Term Debt Incl. Current Port. of LT Debt2,345.00-8.4%2,133.00+23.7%2,803.00+9.5%1,722.00+37.1%2,561.00+105.9%1,725.00-19.5%2,559.00+107.7%1,256.00-8.7%
Accounts Payable1,428.00-6.1%1,483.00+2.0%1,405.00-1.4%1,238.00-13.1%1,520.00+13.4%1,454.00+15.8%1,425.00-2.0%1,425.00+2.2%
Other Current Liabilities15,013.00+36.9%13,536.00+16.9%13,014.00+19.5%9,872.00-21.0%10,969.00+1.4%11,578.00+1.5%10,888.00+5.3%12,496.00+20.6%
Total Current Liabilities18,786.00+24.8%17,152.00+16.2%17,222.00+15.8%12,832.00-15.5%15,050.00+12.3%14,757.00-0.4%14,872.00+14.1%15,177.00+15.6%
Long Term Debt32,131.00+2.0%32,121.00+2.0%31,621.00+7.1%33,204.00+6.5%31,493.00+1.1%31,504.00+9.8%29,536.00+3.0%31,165.00+12.0%
Provision for Risks Charges360.00+30.9%356.00+31.9%289.00+9.9%285.00+10.0%275.00+7.8%270.00+7.6%263.00+17.4%259.00+17.2%
Deferred Tax Liabilities807.00+11.6%797.00+7.3%795.00+9.1%778.00+8.7%723.00+4.5%743.00+9.1%729.00+8.5%716.00+8.3%
Other Liabilities465.00+55.5%345.00+7.8%364.00+24.2%309.00-4.0%299.00-34.3%320.00-14.7%293.00-17.5%322.00-26.8%
Total Liabilities52,549.00+9.8%50,771.00+6.7%50,291.00+10.1%47,408.00-0.5%47,840.00+4.1%47,594.00+6.2%45,693.00+6.4%47,639.00+12.7%
Non-Equity Reserves0.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.00
Common Equity30,379.00+4.0%30,248.00+4.1%29,526.00+2.1%29,739.00+3.5%29,209.00+3.0%29,066.00+3.8%28,915.00+4.5%28,732.00+3.8%
Total Shareholders Equity30,379.00+4.0%30,248.00+4.1%29,526.00+2.1%29,739.00+3.5%29,209.00+3.0%29,066.00+3.8%28,915.00+4.5%28,732.00+3.8%
Accumulated Minority Interest807.00-4.0%816.00-4.3%821.00-4.5%831.00-3.0%841.00+4.0%853.00+5.6%860.00+7.5%857.00-21.1%
Total Equity31,186.00+3.8%31,064.00+3.8%30,347.00+1.9%30,570.00+3.3%30,050.00+3.1%29,919.00+3.9%29,775.00+4.6%29,589.00+2.9%
Total Liabilities & Stockholders Equity83,735.00+7.5%81,835.00+5.6%80,638.00+6.9%77,978.00+1.0%77,890.00+3.7%77,513.00+5.3%75,468.00+5.7%77,228.00+8.7%
Book Value Per Share per share14.09+4.4%14.01+4.4%13.65+2.4%13.76+3.7%13.50+3.2%13.42+4.0%13.33+4.5%13.27+4.0%
Tangible Book Value Per Share per share9.59+7.5%9.49+5.7%9.11+2.6%9.19+4.7%8.92+1.1%8.98+4.2%8.88+5.1%8.78+4.0%
Full-Time Employees people---8,000+2.6%---7,800+4.0%
Price to Book Ratio ratio2.652.692.752.372.332.332.572.40
Return on Assets %8.087.847.497.427.527.717.897.91
Return on Equity %21.9221.0720.0119.7019.9820.4320.4920.78
Return on Invested Capital %2.582.922.402.592.192.352.362.70
Quick Ratio ratio0.670.660.610.740.600.690.640.74
Current Ratio ratio0.930.930.911.040.880.960.861.00

Cash flow, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Net Income1,638.00+20.8%1,856.00+27.6%1,496.00+6.4%1,660.00+1.7%1,356.00-5.3%1,454.00+2.3%1,406.00-5.2%1,633.00+1.9%
Depreciation722.00+7.9%714.00+9.0%704.00+8.6%760.00+9.0%669.00+6.5%655.00+5.6%648.00+4.0%697.00+74.7%
Other Funds (Non Cash)79.00+8.2%-48.00-382.4%127.00+108.2%-22.0073.00+14.1%17.00-59.5%61.00+29.8%-39.00-118.5%
Funds from Operations2,450.00+17.7%2,527.00+18.6%2,341.00+10.1%2,445.00+5.7%2,081.00-2.4%2,131.00+2.0%2,126.00-1.7%2,313.00+4.2%
Extraordinary Item0.000.000.000.000.000.000.000.00
Changes in Working Capital-238.00666.00-861.00-524.1%45.00-22.4%-322.00-50.00203.0058.00-61.8%
Cash from Operating Activities2,212.00+25.8%3,193.00+53.4%1,480.00-36.5%2,490.00+5.0%1,759.00-16.1%2,081.00+30.2%2,329.00+9.5%2,371.000.0%
Capital Expenditures-1,058.00-1,158.00-983.00-1,301.00-1,958.00-1,299.00-1,062.00-1,059.00
Net Assets From Acquisitions0.000.000.000.000.000.000.00-949.00
Sale of Fixed Assets and Businesses1.00-83.3%3.00-72.7%596.00+14800.0%61.00+1933.3%6.00+20.0%11.00+175.0%4.00+100.0%3.00-91.4%
Purchase or Sale of Investments0.000.000.00-1.000.00-1.000.000.00
Purchase of Investments0.000.000.00-1.000.00-1.000.000.00
Sale Or Maturity of Investments0.000.000.000.000.000.000.000.00
Other Uses-6.00-11.00-5.00-12.00-4.00-5.00-4.00-8.00
Other Sources0.000.000.000.000.000.000.000.00
Cash from Investing Activities-1,063.00-1,166.00-392.00-1,253.00-1,956.00-1,294.00-1,062.00-2,013.00
Cash Dividends Paid-1,209.00-1,190.00-1,189.00-1,179.00-1,180.00-1,160.00-1,159.00-1,138.00
Change in Capital Stock-112.00-159.00-116.00-50.00-80.00-110.00-60.00-63.00
Repurchase of Common Pref Stock-112.00-159.00-116.00-50.00-80.00-110.00-60.00-63.00
Sale of Common Pref Stock0.000.000.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.000.000.00
Issuance or Reduction of Debt, Net208.00-75.1%-690.00-159.9%-489.00812.00836.00-46.5%1,152.00+28.1%-332.00-149.0%-16.00
Change in Long Term Debt208.00-75.1%-690.00-159.9%-489.00812.00836.00-46.5%1,152.00+28.1%-332.00-149.0%-16.00
Issuance of Long Term Debt20,913.00-2.6%31,732.00+4.2%22,485.00+17.8%17,234.00+1268.9%21,465.00+51.7%30,449.00+27.1%19,091.00+33.4%1,259.00-96.1%
Reduction of Long Term Debt-20,705.00-32,422.00-22,974.00-16,422.00-20,629.00-29,297.00-19,423.00-1,275.00
Net Financing Active Other Cash Flow-42.00-37.00-145.00-7.00-129.2%-43.00-27.00-100.0024.00
Other Financing Activities Uses-42.00-38.00-145.00-7.00-43.00-42.00-104.00-33.00
Cash from Financing Activities-1,155.00-2,076.00-1,939.00-424.00-467.00-246.4%-145.00-1,651.00-1,193.00
Net Change in Cash-6.00-49.00-107.6%-851.00813.00-664.00-153.6%642.00+1184.0%-384.00-700.0%-835.00-14016.7%
Free Cash Flow1,154.002,035.00+160.2%497.00-60.8%1,189.00-9.4%-199.00-121.6%782.00+134.1%1,267.00+17.4%1,312.00-3.5%
Price to Free Cash Flow ratio719.12-------

Revenue breakdown

USD millions, so a column adds up to the income statement. Share is of the latest year in that split. The change is versus the older year shown, not TTM.

Product
Name20242025vs 20242025 share
Fractionation and Isomerization371.00354.00-4.6%0.7%
Midstream Services: Transportation4,139.004,549.00+9.9%8.6%
Natural Gas Processing and Fractionation1,349.001,261.00-6.5%2.4%
Sales of Crude Oil20,389.0019,560.00-4.1%37.2%
Sales of NGLs and Related Products17,397.0014,415.00-17.1%27.4%
Sales of Natural Gas1,458.002,355.00+61.5%4.5%
Sales of Petrochemical and Refined Products10,013.009,010.00-10.0%17.1%
Storage and Terminals1,103.001,092.00-1.0%2.1%
Total56,219.0052,596.00-6.4%100.0%
Region
Name20242025vs 20242025 share
United States56,219.0052,596.00-6.4%100.0%
Total56,219.0052,596.00-6.4%100.0%
Segment
Name20242025vs 20242025 share
NGL Pipelines and Services20,276.0017,316.00-14.6%32.9%
Onshore Crude Oil Pipelines and Services21,580.0020,761.00-3.8%39.5%
Onshore Natural Gas Pipelines and Services3,004.004,167.00+38.7%7.9%
Petrochemical and Refined Products Services11,359.0010,352.00-8.9%19.7%
Total56,219.0052,596.00-6.4%100.0%

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-301.19%17.1M1436.9M3.25M
2026-10-151.29%18.6M1436.9M3.20M
2026-09-301.21%17.4M1436.9M2.99M
2026-09-151.25%17.9M1436.9M2.94M
2026-08-311.60%23.0M1438.2M2.91M
2026-08-141.35%19.5M1438.2M3.20M
2026-07-311.19%17.2M1442.0M3.40M
2026-07-151.22%17.5M1441.6M3.73M
2026-06-301.35%19.5M1441.7M4.13M
2026-06-151.14%16.5M1441.7M4.22M
2026-05-291.20%17.3M1441.1M4.56M
2026-05-151.34%19.3M1441.1M4.48M
2026-04-301.14%16.4M1443.5M4.91M
2026-04-151.17%16.9M1442.4M4.80M
2026-03-311.30%18.8M1442.9M4.70M
2026-03-131.21%17.4M1442.9M4.47M
2026-02-271.48%21.4M1442.9M4.29M
2026-02-131.50%21.6M1443.9M4.32M
2026-01-301.64%23.7M1446.0M3.93M
2026-01-151.73%25.0M1446.0M3.83M

Option chain

expiry 2026-11-13
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call25.0012.2012.8012.766.38422.003.000.995-0.0490.000
call26.0011.2511.8011.595.94821.002.000.981-0.1850.001
call27.0010.2010.8510.665.6466.002.000.979-0.1820.001
call28.009.309.909.645.3223.005.000.977-0.1780.001
call29.008.059.008.715.0764.002.000.975-0.1740.001
call30.007.258.007.404.5883.000.000.972-0.1690.001
call31.006.207.006.374.1072.000.000.968-0.1640.001
call32.004.505.805.643.1462.003.000.963-0.1570.001
call33.004.304.754.652.6273.0014.000.957-0.1500.002
call33.503.804.354.112.6352.0013.000.953-0.1450.002
call34.003.303.853.642.4074.0016.000.940-0.1630.002
call34.502.813.353.122.1763.0015.000.921-0.1900.003
call35.002.202.772.671.7895.0014.000.901-0.2000.003
call35.501.702.242.251.5021.004.000.875-0.2080.004
call36.001.321.981.901.66422.002.000.804-0.2780.005
call36.500.751.310.761.10814.000.000.772-0.2240.005
call37.000.360.830.750.86110933.000.644-0.2530.007
call37.500.090.270.200.4461977780.453-0.1880.007
call38.000.000.180.010.5759601080.277-0.1980.006
call38.500.000.050.050.50970.001.000.152-0.1500.004
call39.000.000.090.010.53253.001.000.094-0.1180.003
call39.500.000.090.040.66319.001.000.061-0.0960.002
call40.000.000.010.040.61663.000.000.104-0.1450.004
call40.500.000.060.080.8001.000.000.026-0.0550.001
call41.000.000.240.020.9031.000.000.019-0.0450.001
call41.500.000.240.001.0080.000.000.016-0.0430.001
call42.000.000.240.001.1010.000.000.015-0.0440.001
call42.500.000.240.001.1970.000.000.014-0.0450.001
call43.000.000.240.001.2940.000.000.013-0.0450.001
call44.000.000.240.001.4750.000.000.011-0.0470.001
call45.000.002.130.001.6450.000.000.010-0.0480.000
call46.000.002.130.001.8120.000.000.009-0.0490.000
call47.000.002.130.001.9740.000.000.009-0.0500.000
call48.000.000.010.001.4820.000.000.008-0.0240.001
put25.000.000.010.013.1161.001.00-0.005-0.0430.000
put26.000.000.240.063.8311.001.00-0.019-0.1890.001
put27.000.000.240.003.4770.000.00-0.021-0.1850.001
put28.000.000.240.003.1390.000.00-0.023-0.1810.001
put29.000.000.240.032.8161.000.00-0.025-0.1770.001
put30.000.000.240.022.4884.000.00-0.028-0.1720.001
put31.000.000.240.022.1785.000.00-0.032-0.1670.001
put32.000.000.240.081.8669.000.00-0.036-0.1600.001
put33.000.000.240.081.5522.000.00-0.043-0.1520.002
put33.500.000.240.041.3983.000.00-0.047-0.1480.002
put34.000.000.240.071.2449.000.00-0.060-0.1660.002
put34.500.000.200.061.0951.000.00-0.078-0.1890.003
put35.000.000.250.010.93375.000.00-0.098-0.2030.003
put35.500.000.220.050.78026.000.00-0.121-0.2050.004
put36.000.000.140.030.6172640.00-0.191-0.2750.005
put36.500.000.750.030.4471836.00-0.228-0.2270.005
put37.000.010.160.240.4522450.00-0.356-0.2550.007
put37.500.050.370.100.44426.0022.00-0.547-0.1900.007
put38.000.200.750.460.52238.0011.00-0.723-0.2000.006
put38.500.521.281.320.7845.003.00-0.840-0.1580.004
put39.001.081.781.360.9412.001.00-0.911-0.1140.003
put39.501.532.240.001.0150.000.00-0.939-0.0970.002
put40.002.042.730.001.1930.000.00-0.965-0.0650.001
put40.502.533.250.001.3500.000.00-0.975-0.0550.001
put41.003.003.750.001.4950.000.00-0.982-0.0460.001
put41.503.504.250.001.6340.000.00-0.984-0.0440.001
put42.004.054.754.381.7700.001.00-0.985-0.0450.001
put42.504.505.255.521.9010.000.00-0.986-0.0460.001
put43.005.005.855.302.4010.001.00-0.987-0.0470.001
put44.006.006.757.082.3470.000.00-0.989-0.0480.001
put45.007.007.750.002.5870.000.00-0.990-0.0490.000
put46.008.008.858.363.1770.001.00-0.990-0.0500.000
put47.009.009.759.293.0360.001.00-0.991-0.0510.000
put48.0010.0010.750.003.1580.000.00-0.992-0.0520.000

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-128-KCurrent report2026-11-05SEC
2026-11-09424B5SEC
2026-11-05FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-11-05424B3SEC
2026-11-0410-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-10-298-KCurrent report2026-10-29SEC
2026-10-02SCHEDULE 13D/ASEC
2026-09-23SDSpecialized Disclosure ReportSEC
2026-09-01EFFECTEffectiveness filing by commission orderSEC
2026-08-21S-3Registration statement for specified transactions by certain issuers including face-amount certificate companiesSEC
2026-08-0710-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-07-308-KCurrent report2026-07-30SEC
2026-07-018-KCurrent report2026-07-01SEC
2026-05-0710-QQuarterly report pursuant to Section 13 or 15(d)2026-03-31SEC
2026-04-288-KCurrent report2026-04-28SEC
2026-03-278-KCurrent report2026-03-27SEC
2026-03-234Statement of changes in beneficial ownership of securities2026-03-20SEC
2026-02-2710-KAnnual report pursuant to Section 13 or 15(d)2025-12-31SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-184Statement of changes in beneficial ownership of securities2026-02-16SEC
2026-02-104Statement of changes in beneficial ownership of securities2026-02-10SEC
2026-02-104Statement of changes in beneficial ownership of securities2026-02-10SEC
2026-02-104Statement of changes in beneficial ownership of securities2026-02-10SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-080000
2026-070000
2026-060000
2026-050000
2026-040000
2026-03100.07K100
2026-020000
2026-010000
2025-12481.33K100
2025-110000

Institutional holders

Manager% owned
ALPS ADVISORS INC2.16%
Invesco Ltd.1.23%
Blackstone Inc.1.10%
MORGAN STANLEY1.03%
TORTOISE CAPITAL ADVISORS, L.L.C.0.86%
GOLDMAN SACHS GROUP INC0.81%
Energy Income Partners, LLC0.64%
FAYEZ SAROFIM & CO0.63%
Neuberger Berman Group LLC0.63%
KAYNE ANDERSON CAPITAL ADVISORS LP0.59%

Funds

Fund% owned
Alerian MLP ETF2.02%
Bond Fund1.94%
Invesco SteelPath MLP Income Fund0.84%
PIMCO Dynamic Income Strategy Fund0.68%
Baird Core Plus Bond Fund0.67%
Blackstone Alternative Multi-Strategy Fund0.53%
KAYNE ANDERSON ENERGY INFRASTRUCTURE FUND, INC0.47%
Diversified Bond Fund0.45%
First Trust North American Energy Infrastructure Fund0.44%
Global X MLP ETF0.38%

OakChart. EPD. Cached 15 minutes. Terms