Enterprise Products Partners L.P. (EPD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.77	$0.79	+2.6%	—	$18.3B	—
Q1 26	$0.73	$0.73	0.0%	—	$14.4B	—
Q4 25	$0.69	$0.75	+8.7%	—	$13.8B	—
Q3 25	$0.65	$0.63	-3.1%	—	$12B	—
Q2 25	$0.64	$0.63	-1.6%	—	$11.4B	—
Q1 25	$0.71	$0.66	-7.0%	—	$15.4B	—
Q4 24	$0.71	$0.74	+4.2%	—	$14.2B	—
Q3 24	$0.65	$0.66	+1.5%	—	$13.8B	—
Q2 24	$0.67	$0.64	-4.5%	—	$13.5B	—
Q1 24	$0.67	$0.67	0.0%	—	$14.8B	—
Q4 23	$0.68	$0.72	+5.9%	—	$14.6B	—
Q3 23	$0.64	$0.61	-4.7%	—	$12B	—
Q2 23	$0.58	$0.57	-1.7%	—	$10.7B	—
Q1 23	$0.62	$0.64	+3.2%	—	$12.4B	—
Q4 22	$0.63	$0.65	+3.2%	—	$13.7B	—
Q3 22	$0.61	$0.63	+3.3%	—	$15.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.69	—	—	$52.6B	—
FY24	—	$2.72	—	—	$56.2B	—
FY23	—	$2.55	—	—	$49.7B	—
FY22	—	$2.53	—	—	$58.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$23B	$29.2B	$36.5B	$32.8B	$27.2B	$40.8B	$58.2B	$49.7B	$56.2B	$52.6B
YoY change	-14.8%	+27%	+24.9%	-10.3%	-17%	+50%	+42.6%	-14.6%	+13.1%	-6.44%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	23B	29.2B	36.5B	32.8B	27.2B	40.8B	58.2B	49.7B	56.2B	52.6B
Cost of revenue	19.6B	25.6B	31.4B	27.1B	22.4B	35.1B	51.5B	43B	49B	45.4B
Gross profit	3.4B	3.7B	5.1B	5.7B	4.8B	5.7B	6.7B	6.7B	7.2B	7.2B
Gross margin	14.7%	12.6%	14.1%	17.5%	17.8%	14%	11.5%	13.5%	12.8%	13.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	160.1M	181.1M	208.3M	211.7M	220M	209M	241M	231M	244M	251M
Operating expenses	160.1M	181.1M	208.3M	211.7M	220M	209M	241M	231M	244M	251M
Operating income	3.2B	3.5B	4.9B	5.5B	4.6B	5.5B	6.4B	6.5B	6.9B	6.9B
Operating margin	14%	12%	13.5%	16.8%	16.9%	13.5%	11.1%	13%	12.3%	13.1%
Non-operating income, net	340.3M	361.7M	463.3M	448.4M	427M	583M	487M	476M	410M	365M
Pretax income	2.6B	2.9B	4.3B	4.7B	3.8B	4.8B	5.7B	5.7B	6B	5.9B
Income tax	23.4M	25.7M	60.3M	45.6M	-124M	70M	82M	44M	65M	23M
Net income	2.6B	2.9B	4.2B	4.7B	3.9B	4.8B	5.6B	5.7B	6B	5.9B
Net margin	11.1%	9.77%	11.6%	14.3%	14.3%	11.7%	9.65%	11.4%	10.6%	11.2%
EBITDA	5.1B	5.6B	7.2B	7.8B	6.9B	8B	8.9B	9B	9.6B	9.6B
EPS	1.19	1.3	1.91	2.1	1.73	2.13	2.53	2.55	2.72	2.69
Diluted EPS	1.19	1.3	1.91	2.09	1.71	2.1	2.5	2.52	2.69	2.66

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	12B	14.6B	14.8B	13.5B	13.8B	14.2B	15.4B	11.4B	12B	13.8B	14.4B	18.3B
Cost of revenue	10.4B	12.8B	13B	11.8B	12B	12.3B	13.7B	9.6B	10.4B	11.8B	12.5B	16.1B
Gross profit	1.6B	1.9B	1.8B	1.7B	1.7B	1.9B	1.7B	1.8B	1.7B	2B	1.9B	2.2B
Gross margin	13.6%	12.8%	12.1%	12.8%	12.6%	13.6%	11.2%	15.6%	13.8%	14.5%	13.1%	12.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	59M	59M	66M	57M	61M	60M	60M	68M	61M	62M	64M	64M
Operating expenses	59M	59M	66M	57M	61M	60M	60M	68M	61M	62M	64M	64M
Operating income	1.6B	1.8B	1.7B	1.7B	1.7B	1.9B	1.7B	1.7B	1.6B	1.9B	1.8B	2.1B
Operating margin	13.1%	12.4%	11.7%	12.3%	12.2%	13.1%	10.8%	15%	13.3%	14.1%	12.6%	11.7%
Non-operating income, net	122M	115M	102M	101M	99M	108M	95M	93M	92M	85M	77M	108M
Pretax income	1.4B	1.6B	1.5B	1.4B	1.5B	1.6B	1.4B	1.5B	1.3B	1.7B	1.5B	1.9B
Income tax	22M	-1M	21M	15M	19M	10M	24M	16M	-13M	-4M	22M	12M
Net income	1.4B	1.6B	1.5B	1.4B	1.4B	1.6B	1.4B	1.5B	1.4B	1.7B	1.5B	1.9B
Net margin	11.3%	11%	10%	10.5%	10.4%	11.5%	9.12%	12.8%	11.3%	12%	10.4%	10.2%
EBITDA	2.2B	2.5B	2.4B	2.3B	2.3B	2.5B	2.3B	2.4B	2.3B	2.6B	2.5B	2.9B
EPS	0.61	0.72	0.66	0.65	0.65	0.75	0.64	0.66	0.62	0.76	0.68	0.85
Diluted EPS	0.6	0.72	0.66	0.64	0.65	0.74	0.64	0.66	0.61	0.75	0.68	0.84

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	57.3B	57.1B	53.8B	61.6B	42.8B	47.8B	52.4B	57.1B	67.9B	69.3B	79.1B
Enterprise value	80.9B	81.7B	79.6B	88.9B	71.9B	74.8B	80.9B	86B	99.6B	103.1B	114.2B
Shares outstanding	2.1B	2.2B	2.2B	2.2B	2.2B	2.2B	2.2B	2.2B	2.2B	2.2B	2.2B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.4	20	12.7	13.2	11	10.1	9.32	10.1	11.4	11.8	12.7
P/S	2.49	1.95	1.47	1.88	1.57	1.17	0.9	1.15	1.21	1.32	1.36
P/B	2.57	2.51	2.21	2.39	1.68	1.81	1.89	1.99	2.3	2.26	2.62
EV/EBITDA	15.8	14.7	11.1	11.3	10.4	9.38	9.08	9.51	10.4	10.7	11.1
EV/Sales	3.51	2.79	2.18	2.71	2.64	1.83	1.39	1.73	1.77	1.96	1.95
Earnings yield	4.46%	5%	7.88%	7.6%	9.09%	9.95%	10.7%	9.9%	8.79%	8.48%	7.86%
FCF yield	1.89%	2.74%	3.54%	3.23%	6.09%	13.2%	11.6%	7.53%	5.26%	4.28%	1.36%
PEG	—	—	—	—	—	—	—	—	—	—	0.44

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	14.7%	12.6%	14.1%	17.5%	17.8%	14%	11.5%	13.5%	12.8%	13.6%	12.1%
Operating margin	14%	12%	13.5%	16.8%	16.9%	13.5%	11.1%	13%	12.3%	13.1%	11.8%
Net margin	11.1%	9.77%	11.6%	14.3%	14.3%	11.7%	9.65%	11.4%	10.6%	11.2%	10.8%
ROE	11.5%	12.5%	17.4%	18.1%	15.3%	18%	20.3%	19.7%	20.2%	19.2%	20.9%
ROA	4.89%	5.25%	7.44%	7.59%	6.06%	7.04%	8.24%	7.97%	7.74%	7.54%	5.92%
ROIC	6.95%	7.33%	9.69%	10.3%	8.46%	10.2%	11.3%	11.1%	11.2%	10.7%	11.5%
Return on tangible assets	7.74%	8.03%	11.1%	10.8%	8.34%	9.45%	11.5%	10.8%	10.3%	10.1%	10.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.79	0.7	0.85	0.86	1.1	1.14	0.86	0.93	1	1.04	0.93
Quick ratio	0.58	0.53	0.63	0.63	0.73	0.91	0.66	0.68	0.74	0.74	0.66
Debt / equity	1.06	1.08	1.08	1.07	1.19	1.13	1.03	1.01	1.09	1.14	1.1
Debt / assets	0.45	0.45	0.46	0.45	0.47	0.44	0.42	0.41	0.42	0.45	0.42
Net debt / EBITDA	4.6	4.41	3.59	3.48	4.23	3.39	3.2	3.19	3.3	3.51	3.27
Interest coverage	3.62	3.93	4.92	4.81	3.92	4.76	5.58	5.47	5.44	5.19	5.24
Effective tax rate	0.91%	0.89%	1.4%	0.96%	0%	1.45%	1.44%	0.77%	1.08%	0.39%	0.27%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.9	13.6	16.7	15	12.5	18.7	26.8	22.9	26	24.3	27
EPS (basic)	1.19	1.3	1.91	2.1	1.73	2.13	2.53	2.55	2.72	2.69	2.69
EPS (diluted)	1.19	1.3	1.91	2.09	1.71	2.1	2.5	2.52	2.69	2.66	2.89
Book value per share	10.5	10.6	11.1	11.8	11.6	12.1	12.8	13.3	13.7	14.2	14
FCF per share	0.51	0.73	0.87	0.91	1.19	2.89	2.8	1.98	1.65	1.37	1.58
Cash per share	0.03	0	0.16	0.15	0.49	1.3	0.04	0.08	0.27	0.45	0.11
Capex per share	—	—	—	—	—	—	—	—	—	2.6	2.47

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	10.7%	9.24%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	65.5%	60.9%
Payout ratio	129.3%	125%	87.9%	81.9%	100.1%	82.6%	72.9%	76%	75.6%	79.6%	75.8%
Dividend yield	5.76%	6.25%	6.93%	6.23%	9.1%	8.22%	7.82%	7.53%	6.64%	6.75%	6.1%

Yield

6.1%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.56

ex-dividend Jul 31, 2026

Payout ratio

76%

of earnings

Dividend growth

13 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 31, 2026	$0.56
Apr 30, 2026	$0.55
Jan 30, 2026	$0.55

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$12B	$14.6B	$14.8B	$13.5B	$13.8B	$14.2B	$15.4B	$11.4B	$12B	$13.8B	$14.4B	$18.3B
YoY change	-22.4%	+7.12%	+18.6%	+26.6%	+14.8%	-2.88%	+4.45%	-15.7%	-12.7%	-2.87%	-6.69%	+60.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	63.1M	5.1M	344.8M	334.7M	1.1B	2.8B	76M	180M	583M	969M
Receivables	3.3B	4.4B	3.7B	4.9B	4.8B	7B	7B	7.8B	9.2B	6.5B
Inventory	1.8B	1.6B	1.5B	2.1B	3.3B	2.7B	2.6B	3.4B	4B	3.9B
Total current assets	6.5B	6.5B	6.1B	7.9B	9.9B	13.3B	10.6B	12.2B	15.1B	13.4B
Property, plant & equipment	33.3B	35.6B	38.7B	41.6B	41.9B	42.1B	44.4B	45.8B	49.1B	51.4B
Goodwill & intangibles	19.2B	18.9B	18.7B	18.4B	17.5B	17.2B	19.1B	18.8B	19.4B	19.7B
Total assets	52.2B	54.4B	57B	61.7B	64.1B	67.5B	68.1B	71B	77.2B	77.9B
Accounts payable	397.7M	801.7M	1.1B	1B	704.6M	632M	743M	1.2B	1.2B	1B
Short-term debt	2.6B	2.9B	1.5B	2B	1.3B	1.4B	1.7B	1.3B	1.1B	1.6B
Total current liabilities	8.3B	9.3B	7.2B	9.1B	9B	11.6B	12.3B	13.1B	15.2B	12.8B
Long-term debt	21.1B	21.7B	24.7B	25.6B	28.9B	28.5B	26.9B	27.8B	31.1B	33.1B
Total liabilities	29.9B	31.6B	32.7B	35.9B	38.7B	41.1B	40.4B	42.2B	47.6B	47.3B
Shareholders' equity	22.3B	22.8B	24.3B	25.8B	25.4B	26.4B	27.7B	28.8B	29.6B	30.6B
Total debt	23.7B	24.6B	26.2B	27.6B	30.2B	29.9B	28.6B	29.1B	32.3B	34.8B
Net debt	23.6B	24.6B	25.8B	27.3B	29.1B	27.1B	28.6B	28.9B	31.7B	33.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	171M	180M	283M	138M	1.4B	583M	220M	870M	206M	969M	191M	246M
Receivables	6.9B	7.8B	7.6B	8.6B	8.2B	9.2B	7.9B	7.6B	7.5B	6.5B	8.3B	9.4B
Inventory	3.3B	3.4B	3.3B	3.4B	3.3B	4B	3.2B	4B	4.2B	3.9B	5.2B	4.7B
Total current assets	11.4B	12.2B	12.1B	13.5B	14.4B	15.1B	12.8B	14.2B	13.2B	13.4B	15.7B	15.9B
Property, plant & equipment	45.3B	45.8B	46.4B	47.4B	48.1B	49.1B	49.7B	50.1B	51.1B	50.9B	51.3B	53B
Goodwill & intangibles	18.9B	18.8B	18.7B	18.6B	18.5B	19.4B	19.3B	19.2B	19.8B	19.7B	19.6B	19.5B
Total assets	69.8B	71B	71.4B	73.6B	75.1B	77.2B	75.4B	77.4B	77.8B	77.9B	80.6B	81.8B
Accounts payable	962M	1.2B	1.4B	1.1B	1.2B	1.2B	1.3B	1.3B	1.4B	1B	1.3B	1.3B
Short-term debt	1.5B	1.3B	1.1B	2B	1.1B	1.1B	2.5B	1.6B	2.5B	1.6B	2.7B	2.1B
Total current liabilities	12.5B	13.1B	13B	14.8B	13.4B	15.2B	14.9B	14.8B	15.1B	12.8B	17.2B	17.2B
Long-term debt	27.4B	27.8B	28.3B	28.3B	30.8B	31.1B	29.1B	31.1B	31.1B	33.1B	31.2B	31.9B
Total liabilities	41.6B	42.2B	42.9B	44.8B	45.9B	47.6B	45.6B	47.5B	47.7B	47.3B	50.2B	50.6B
Shareholders' equity	28.2B	28.8B	28.5B	28.8B	29.2B	29.6B	29.8B	30B	30.1B	30.6B	30.4B	31.1B
Total debt	28.9B	29.1B	29.4B	30.3B	31.9B	32.3B	31.6B	32.7B	33.6B	34.8B	33.9B	34B
Net debt	28.7B	28.9B	29.2B	30.2B	30.5B	31.7B	31.4B	31.9B	33.4B	33.8B	33.7B	33.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	2.6B	2.9B	4.2B	4.7B	3.9B	4.8B	5.6B	5.7B	6B	5.9B
Depreciation & amortization	1.6B	1.6B	1.8B	1.7B	1.8B	1.9B	2B	2.1B	2.2B	2.3B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-1.3B	-1.3B	944.3M	-2B	-2.4B	-891M	259M	-782M	-2.3B	2.5B
Operating cash flow	2.8B	3.2B	7B	4.7B	3.4B	6.1B	8.2B	7.3B	6.3B	8.6B
Capital expenditure	—	—	—	—	—	—	—	—	—	-5.6B
Investing cash flow	-1.1B	-233.6M	-108.4M	-107.1M	-21M	42M	-3.1B	27M	-966M	-5.6B
Dividends paid	-3.3B	-3.6B	-3.7B	-3.8B	-3.9B	-3.9B	-4.1B	-4.3B	-4.5B	-4.7B
Share repurchases	—	0	-30.8M	-81.1M	-186M	-214M	-250M	-188M	-219M	-300M
Financing cash flow	321.7M	-1.7B	-1.5B	-1.9B	-2B	-4.6B	-5.8B	-4.3B	-2.2B	-2.7B
Net change in cash	2.1B	1.3B	5.3B	2.6B	1.4B	1.6B	-694M	3.1B	3.2B	333M
Free cash flow	1.1B	1.6B	1.9B	2B	2.6B	6.3B	6.1B	4.3B	3.6B	3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.4B	1.6B	1.5B	1.4B	1.4B	1.6B	1.4B	1.5B	1.4B	1.7B	1.5B	1.9B
Depreciation & amortization	530M	536M	538M	544M	552M	560M	563M	571M	585M	603M	613M	630M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-1B	-473M	-138M	-1.3B	805M	-1.7B	1.7B	-313M	85M	956M	-3.9B	395M
Operating cash flow	949M	1.8B	2B	808M	2.9B	595M	3.8B	1.8B	1.7B	2.5B	1.5B	3.2B
Capital expenditure	—	—	—	—	—	—	—	—	-2B	-1.3B	-983M	-1.2B
Investing cash flow	-4M	30M	-6M	-3M	-3M	-954M	—	—	-2B	-1.3B	-392M	-1.2B
Dividends paid	-1.1B	-1.1B	-1.1B	-1.1B	-1.1B	-1.1B	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B
Share repurchases	0	-96M	-40M	-40M	-76M	-63M	-60M	-110M	-80M	-50M	-116M	-159M
Financing cash flow	-863M	-1.4B	-1B	-281M	319M	-1.2B	-1.7B	-145M	-467M	-424M	-1.9B	-2.1B
Net change in cash	82M	405M	975M	524M	3.2B	-1.6B	2.2B	1.7B	-685M	795M	-862M	-61M
Free cash flow	897M	1.4B	1.1B	310M	898M	1.3B	1.3B	762M	-220M	1.2B	486M	2B

Date	Ratio
Aug 22, 2014	2:1
May 16, 2002	2:1

Enterprise Products Partners L.P. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history