NGL Energy Partners LP (NGL) 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 %
Q1 27	$0.11	$0.48	+336.4%	—	$990M	—
Q4 26	$0.18	-$3.44	-2011.1%	—	$949.5M	—
Q3 26	$0.16	$0.1	-37.5%	—	$909.8M	—
Q2 26	—	$0.02	—	—	$674.7M	—
Q1 26	-$0.11	$0.04	+136.4%	—	$622.2M	—
Q4 25	$0.01	-$0.12	-1300.0%	—	-$819.8M	—
Q3 25	$0.13	-$0.12	-192.3%	—	$1.5B	—
Q2 25	$0.08	-$0.21	-362.5%	—	$1.4B	—
Q1 25	$0.08	-$0.14	-275.0%	—	$1.4B	—
Q4 24	$0.19	-$2.05	-1178.9%	—	$1.6B	—
Q3 24	$0.03	$0.08	+166.7%	—	$1.9B	—
Q2 24	$0.02	-$0.05	-350.0%	—	$1.8B	—
Q1 24	$0.16	-$0.11	-168.8%	—	$1.6B	—
Q4 23	$0.15	-$0.51	-440.0%	—	$2B	—
Q3 23	$0.12	$0.19	+58.3%	—	$2.1B	—
Q2 23	$0.08	-$0.21	-362.5%	—	$2B	—

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 %
FY26	—	-$3.19	—	—	$3.2B	—
FY25	—	-$0.6	—	—	$3.5B	—
FY24	—	-$2.14	—	—	$7B	—
FY23	—	-$0.56	—	—	$8.7B

Total revenue

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

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$12.7B	$7B	$8.7B	$7.6B	$5.2B	$7.9B	$8.7B	$7B	$3.5B	$3.2B
YoY change	+8.22%	-45.3%	+25%	-12.7%	-31.1%	+52.1%	+9.4%	-20%	-50.1%	-9.02%

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	12.7B	7B	8.7B	7.6B	5.2B	7.9B	8.7B	7B	3.5B	3.2B
Cost of revenue	12.4B	6.5B	8.2B	6.9B	4.8B	7.4B	7.9B	6.2B	2.8B	2.4B
Gross profit	298.6M	482M	494.1M	714.3M	416M	519.9M	771.3M	723.3M	707.4M	719.2M
Gross margin	2.35%	6.93%	5.69%	9.42%	7.96%	6.54%	8.87%	10.4%	20.4%	22.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	105.8M	98M	107.4M	113.7M	70.5M	63.5M	71.8M	121.9M	55.6M	70.1M
Operating expenses	301.5M	311.8M	333.1M	455.9M	331.3M	342.6M	395.2M	429.7M	346.6M	368.1M
Operating income	-3M	170.2M	161M	258.5M	84.7M	177.3M	376.1M	293.5M	360.8M	351.1M
Operating margin	-0.02%	2.45%	1.85%	3.41%	1.62%	2.23%	4.32%	4.22%	10.4%	11.1%
Non-operating income, net	242.1M	7.8M	-79.2M	-257.5M	-526.7M	-88.8M	-47.8M	-163.8M	-21M	-271.1M
Pretax income	96.7M	-21.1M	-78.2M	-180.2M	-640.8M	-183.1M	52.8M	-140.7M	60.1M	-178.8M
Income tax	1.9M	1.4M	1.2M	345K	-3.4M	971K	271K	2.4M	-4.9M	-276K
Net income	143.9M	-69.6M	339.4M	-398.8M	-639.2M	-184.1M	52.5M	-143.1M	43.2M	-139.2M
Net margin	1.13%	-1%	3.91%	-5.26%	-12.2%	-2.32%	0.6%	-2.06%	1.24%	-4.41%
EBITDA	206.1M	404.1M	389.6M	527.4M	367.9M	470.2M	683.1M	567.5M	626.9M	607.9M
EPS	0.99	-1.08	2.01	-4.59	-5.68	-2.22	-0.56	-2.14	-0.6	-3.19
Diluted EPS	0.95	-1.08	2.01	-4.59	-5.68	-2.22	-0.56	-2.14	-0.6	-3.19

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	1.8B	1.9B	1.6B	1.4B	1.4B	1.5B	-819.8M	622.2M	674.7M	909.8M	949.5M	990M
Cost of revenue	1.6B	1.7B	1.5B	1.2B	1.2B	1.4B	-1B	449.4M	485M	708.4M	794.2M	746.3M
Gross profit	197.1M	198M	160.3M	151.8M	169.5M	172.8M	213.2M	172.8M	189.7M	201.5M	155.3M	243.7M
Gross margin	10.7%	10.6%	9.84%	10.9%	12.5%	11.2%	-26%	27.8%	28.1%	22.1%	16.4%	24.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	17.5M	17.9M	66.2M	15M	12.2M	15.1M	13.3M	13.7M	14.7M	15.6M	26M	17.6M
Operating expenses	94.9M	97M	140.8M	87.5M	90.3M	87.4M	81.3M	84.5M	88.8M	85.7M	109.1M	96.5M
Operating income	102.2M	101M	19.4M	64.3M	79.2M	85.4M	131.8M	88.3M	100.8M	115.8M	46.2M	147.2M
Operating margin	5.55%	5.4%	1.19%	4.63%	5.86%	5.52%	-16.1%	14.2%	14.9%	12.7%	4.86%	14.9%
Non-operating income, net	-15M	2.1M	-159.3M	11.5M	-4.1M	-386K	-28M	6.8M	-6.1M	-3.7M	-268M	1.1M
Pretax income	28.6M	45.9M	-235M	5.7M	3.7M	14.3M	36.5M	30.1M	29.8M	48.1M	-286.7M	79.7M
Income tax	342K	154K	1.8M	-4.8M	278K	-273K	-94K	-182K	-61K	-119K	86K	-299K
Net income	28.3M	45.8M	-236.7M	10.5M	3.4M	14.6M	14.7M	69.6M	29.8M	48.2M	-286.8M	80.1M
Net margin	1.54%	2.45%	-14.5%	0.76%	0.25%	0.94%	-1.8%	11.2%	4.42%	5.3%	-30.2%	8.09%
EBITDA	164.9M	163.8M	102.6M	124.2M	141.8M	151M	210.3M	148.4M	161.9M	188M	109.8M	209.1M
EPS	-0.05	0.08	—	-0.14	-0.21	-0.12	—	0.04	0.02	0.1	—	0.48
Diluted EPS	-0.05	0.08	—	-0.14	-0.21	-0.12	—	0.04	0.02	0.1	—	0.48

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	2.4B	—	1.7B	331.3M	263.1M	288.2M	379.9M	761.2M	600.2M	1.6B	1.8B
Enterprise value	5.4B	—	3.9B	3.6B	3.7B	3.8B	3.3B	3.7B	3.7B	4.9B	5.9B
Shares outstanding	108.1M	121M	123M	127.4M	129M	129.8M	131M	132.1M	132.2M	127M	127M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	17	—	5.09	—	—	—	7.24	—	13.9	—	-4.67
P/S	0.19	—	0.2	0.04	0.05	0.04	0.04	0.11	0.17	0.5	0.52
P/B	1.1	—	0.71	0.15	0.18	0.23	0.29	0.76	0.86	-232.3	34.9
EV/EBITDA	26.3	—	9.93	6.89	10.1	7.98	4.87	6.48	5.87	8.07	8.82
EV/Sales	0.43	—	0.45	0.48	0.71	0.47	0.38	0.53	1.06	1.56	1.67
Earnings yield	5.89%	—	19.7%	—	—	—	13.8%	—	7.19%	—	-21.4%
FCF yield	-15.1%	—	-6.86%	-27.7%	44.5%	22%	78.3%	29.4%	8.6%	9.24%	4.36%
PEG	—	—	—	—	—	—	—	—	—	—	-0

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	2.35%	6.93%	5.69%	9.42%	7.96%	6.54%	8.87%	10.4%	20.4%	22.8%	24.6%
Operating margin	-0.02%	2.45%	1.85%	3.41%	1.62%	2.23%	4.32%	4.22%	10.4%	11.1%	14.9%
Net margin	1.13%	-1%	3.91%	-5.26%	-12.2%	-2.32%	0.6%	-2.06%	1.24%	-4.41%	-3.76%
ROE	6.45%	-3.21%	14%	-17.5%	-42.6%	-14.5%	3.98%	-14.3%	6.19%	2.1K%	-37.7%
ROA	2.28%	-1.13%	5.75%	-6.14%	-10.7%	-3.03%	0.96%	-2.85%	0.94%	-3.33%	6.19%
ROIC	-0.06%	3.53%	3.52%	4.63%	1.71%	3.75%	8.77%	7.5%	9.56%	10.5%	11.9%
Return on tangible assets	13.2%	-3.63%	16.3%	-31%	-33.1%	-7.97%	2.74%	-7.65%	2.53%	-7.47%	-6.82%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.58	1.99	1.45	0.92	1.11	1.21	1.16	1.21	1.3	1.05	1.14
Quick ratio	0.98	1.51	1.34	0.83	0.93	1.01	1.04	1.07	1.21	0.96	1.04
Debt / equity	1.34	1.24	0.89	1.46	2.32	2.74	2.24	2.95	4.42	-497	63.1
Debt / assets	0.47	0.44	0.37	0.51	0.58	0.57	0.54	0.59	0.67	0.8	0.81
Net debt / EBITDA	14.5	6.58	5.5	6.27	9.42	7.37	4.31	5.13	4.91	5.5	5.07
Interest coverage	1.64	0.89	0.53	-0.06	-2.46	0.28	1.2	0.45	1.22	0.27	0.48
Effective tax rate	2%	0%	0%	0%	0%	0%	0.51%	0%	0%	0%	0%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	117.6	57.5	70.6	59.5	40.5	61.2	66.4	52.6	26.2	24.8	28.1
EPS (basic)	0.99	-1.08	2.01	-4.59	-5.68	-2.22	-0.56	-2.14	-0.6	-3.19	-3.19
EPS (diluted)	0.95	-1.08	2.01	-4.59	-5.68	-2.22	-0.56	-2.14	-0.6	-3.19	-3.28
Book value per share	20.6	17.9	19.7	17.8	11.6	9.75	10.1	7.56	5.27	-0.05	-4.42
FCF per share	-3.42	0.03	-0.96	-0.72	0.91	0.49	2.27	1.69	0.39	1.14	0.82
Cash per share	0.11	0.18	0.15	0.18	0.04	0.03	0.04	0.29	0.04	0.07	0.04
Capex per share	—	—	—	—	—	—	—	—	—	1.74	2.47

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	7.01%	8.74%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	60.5%	75.1%
Payout ratio	126.2%	-323.3%	69.7%	-61.3%	-22.2%	0%	0%	-124.6%	707.3%	-81.5%	0%
Dividend yield	7.43%	—	13.7%	73.8%	54%	0%	0%	23.4%	50.9%	7.25%	2.69%

Yield

2.69%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.10

ex-dividend Nov 5, 2020

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Nov 5, 2020	$0.10
Aug 5, 2020	$0.20
May 6, 2020	$0.20
Feb 6, 2020	$0.39
Nov 6, 2019	$0.39
Aug 6, 2019	$0.39
May 6, 2019	$0.39
Feb 5, 2019	$0.39

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$1.8B	$1.9B	$1.6B	$1.4B	$1.4B	$1.5B	-$819.8M	$622.2M	$674.7M	$909.8M	$949.5M	$990M
YoY change	-8.38%	-12.6%	-20.5%	-14.2%	-26.5%	-17.2%	-150.3%	-55.2%	-50.1%	-41.3%	+215.8%	+59.1%

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	12.3M	22.1M	18.6M	22.7M	4.8M	3.8M	5.4M	38.9M	5.6M	8.5M
Receivables	800.6M	1B	998.2M	579.8M	735.4M	1.1B	1B	815.6M	580.2M	661.5M
Inventory	561.4M	551.3M	136.1M	69.6M	158.5M	251.3M	142.6M	130.9M	69.9M	67.4M
Total current assets	1.5B	2.3B	1.8B	774.1M	1B	1.5B	1.3B	1.2B	962.1M	774M
Property, plant & equipment	937.7M	643.6M	790.8M	2.1B	1.9B	1.7B	1.5B	1.4B	1.4B	1.4B
Goodwill & intangibles	5.2B	4.2B	3.8B	5.2B	4B	3.8B	3.5B	3.1B	2.9B	2.3B
Total assets	6.3B	6.2B	5.9B	6.5B	5.9B	6.1B	5.5B	5B	4.6B	4.2B
Accounts payable	665.9M	854.1M	907.5M	532.8M	680M	1.1B	927.7M	707.6M	462.1M	495.2M
Short-term debt	29.6M	646K	648K	61.5M	49.3M	43.6M	34.2M	38.1M	36.7M	44.9M
Total current liabilities	938.6M	1.1B	1.3B	845.8M	910.8M	1.3B	1.1B	977.3M	739.2M	739.5M
Long-term debt	3B	2.7B	2.2B	3.3B	3.4B	3.4B	2.9B	2.9B	3B	3.3B
Total liabilities	4.1B	4B	3.5B	4.2B	4.4B	4.8B	4.1B	4B	3.9B	4.2B
Shareholders' equity	2.2B	2.2B	2.4B	2.3B	1.5B	1.3B	1.3B	999.2M	696.9M	-6.7M
Total debt	3B	2.7B	2.2B	3.3B	3.5B	3.5B	3B	3B	3.1B	3.4B
Net debt	3B	2.7B	2.1B	3.3B	3.5B	3.5B	2.9B	2.9B	3.1B	3.3B

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	2.7M	738K	38.9M	5.3M	4.5M	5.7M	5.6M	5.4M	8.7M	6.5M	8.5M	5.1M
Receivables	1.2B	1B	815.6M	753.9M	729.1M	786M	580.2M	470.1M	558.6M	598M	661.5M	638.7M
Inventory	250.6M	201.6M	130.9M	158.7M	193.9M	134.1M	69.9M	81.5M	118M	78.8M	67.4M	67.7M
Total current assets	1.6B	1.3B	1.2B	990.3M	1B	1B	962.1M	585.6M	717.9M	721.4M	774M	737.6M
Property, plant & equipment	1.5B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.5B	1.4B	1.5B
Goodwill & intangibles	3.4B	3.4B	3.1B	3.1B	3.1B	3.1B	2.9B	2.9B	2.8B	2.8B	2.3B	2.3B
Total assets	5.6B	5.4B	5B	4.8B	4.9B	4.8B	4.6B	4.2B	4.3B	4.4B	4.2B	4.2B
Accounts payable	1.1B	832M	707.6M	627.7M	594.6M	645.4M	462.1M	312.8M	391.3M	451.7M	495.2M	450.5M
Short-term debt	33.4M	32.8M	38.1M	35.9M	35.5M	38M	36.7M	38M	38.1M	42.3M	44.9M	47.7M
Total current liabilities	1.3B	1.1B	977.3M	864.6M	829M	846.5M	739.2M	468.7M	570.3M	646.8M	739.5M	644.7M
Long-term debt	2.8B	2.8B	2.9B	3.1B	3.2B	3.2B	3B	3B	3B	3B	3.3B	3.3B
Total liabilities	4.8B	4.5B	4B	4.6B	4.2B	4.1B	3.9B	3.6B	3.7B	3.8B	4.2B	4.1B
Shareholders' equity	815.2M	860.8M	999.2M	214M	736.4M	713.7M	696.9M	629.3M	610.7M	589.3M	-6.7M	53.3M
Total debt	2.9B	2.8B	3B	3.1B	3.2B	3.2B	3.1B	3B	3B	3.1B	3.4B	3.4B
Net debt	2.9B	2.8B	2.9B	3.1B	3.2B	3.2B	3.1B	3B	3B	3B	3.3B	3.4B

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	143.9M	-69.6M	339.4M	-398.8M	-639.2M	-184.1M	52.5M	-143.1M	43.2M	-139.2M
Depreciation & amortization	194.8M	220M	221.7M	276.8M	331.2M	306.2M	290.9M	282.7M	267.2M	268.7M
Stock-based compensation	53.1M	35.2M	41.4M	26.5M	6.7M	-1.1M	2.7M	1.1M	0	11.2M
Change in working capital	-257.4M	1.9M	-76.4M	39.7M	10.5M	-136.5M	-1.8M	51.2M	-109.5M	-71.3M
Operating cash flow	60M	234.6M	121M	199M	-283.6M	1.6M	349.3M	199.7M	224.6M	366M
Capital expenditure	—	—	—	—	—	—	—	—	—	-221.3M
Investing cash flow	70.6M	226.9M	49.6M	-1.2B	-34.7M	-70.4M	212M	68M	114.7M	-84.2M
Dividends paid	-181.6M	-225.1M	-236.6M	-244.4M	-142.1M	0	0	-178.3M	-305.3M	-113.5M
Share repurchases	0	-15.8M	-297K	-266.8M	-182K	-90K	-99K	-84K	-2.1M	-470.2M
Financing cash flow	-2.4B	-2.7B	-4.7B	-2.8B	-2.8B	117.6M	-485.8M	-258.9M	-201M	-346.6M
Net change in cash	-2.2B	-2.2B	-4.5B	-3.8B	-3.1B	48.7M	75.5M	8.7M	138.3M	-64.9M
Free cash flow	-370M	4.2M	-118.3M	-91.7M	117.2M	63.5M	297.4M	223.9M	51.6M	144.7M

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	28.3M	45.8M	-236.7M	10.5M	3.4M	14.6M	14.7M	69.6M	29.8M	48.2M	-286.8M	80.1M
Depreciation & amortization	65.6M	65.7M	82.4M	62.3M	62.2M	66.7M	76.5M	66.6M	64M	71.9M	66.3M	63.5M
Stock-based compensation	410K	214K	0	0	0	0	0	—	—	—	—	2M
Change in working capital	-55.6M	-9.1M	140.1M	-101M	-42.3M	87.1M	-8.5M	-64.5M	-64.2M	70.8M	-13.4M	-61.8M
Operating cash flow	46.1M	106.7M	-28.9M	-21.2M	24.5M	157.1M	98M	33.2M	40.5M	182.3M	110M	77M
Capital expenditure	—	—	—	—	—	—	—	-22.1M	-30.9M	-136.6M	-31.6M	-108.8M
Investing cash flow	18.8M	22.6M	6.7M	85.2M	1.8M	1.5M	26.5M	126.2M	-18.1M	-132M	-31.6M	-96.3M
Dividends paid	0	—	—	-218.1M	-27.5M	-30.8M	-28.9M	-31.5M	-26.2M	-26.2M	-29.6M	-18.8M
Share repurchases	—	-84K	0	—	-2.1M	0	0	-108.1M	-21M	-42.9M	-298.2M	0
Financing cash flow	478.2M	-649.2M	98.7M	125.2M	70.3M	-78.2M	-149.3M	-232.6M	-17.7M	-52.5M	-43.9M	15.1M
Net change in cash	543.1M	-519.9M	76.5M	189.2M	96.5M	80.4M	-24.8M	-73.1M	4.6M	-2.2M	34.6M	-4.1M
Free cash flow	31.3M	53.4M	119.8M	-78M	-82.9M	95.4M	117.2M	11.1M	9.5M	45.7M	78.4M	-31.7M

NGL Energy Partners LP 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