Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services; and Petrochemical & Refined Products Services. The NGL Pipelines & Services segment offers natural gas processing and related NGL marketing activities. This segment operates natural gas processing facilities located in Colorado, Louisiana, Mississippi, New Mexico, Texas, and Wyoming; NGL pipelines; NGL fractionation facilities; NGL and related product storage facilities; and NGL marine terminals. The Crude Oil Pipelines & Services segment operates crude oil pipelines; and crude oil storage and marine terminals, which include a fleet of approximately 200 tractor-trailer tank trucks that are used to transport crude oil. It also engages in crude oil marketing activities. The Natural Gas Pipelines & Services segment operates natural gas pipeline systems to gather, treat, and transport natural gas. It leases underground salt dome natural gas storage facilities in Napoleonville, Louisiana; owns an underground salt dome storage cavern in Wharton County, Texas; and transports, stores, and markets natural gas. The Petrochemical & Refined Products Services segment operates propylene fractionation facilities, including propylene fractionation units and propane dehydrogenation facilities, and related marketing activities; butane isomerization complex and related deisobutanizer operations; and octane enhancement, isobutane dehydrogenation, and high purity isobutylene production facilities. It also operates refined products pipelines and terminals; and ethylene export terminals; and provides refined products marketing and marine transportation services. The company was founded in 1968 and is headquartered in Houston, Texas.

Ticker
EPD
Exchange
NYSE
Sector
Energy
Industry
Oil & Gas Midstream
Market cap
$80.76B
52-week range
$30.62 - $40.17

Valuation

Share price
$37.03 (close of Nov 6, 2026)
P/E (TTM)
12.28x
Price to free cash flow
16.80x
Enterprise value
$114.74B

Price performance

PeriodChange
1 day+1.12%
5 days-2.94%
1 month-0.62%
3 months-2.68%
6 months-1.41%
Year to date+15.50%
1 year+19.57%
3 years+40.21%
5 years+63.99%
10 years+50.96%
All time+588.93%

Short interest

As of
Oct 15, 2026
Short % of float
2.51%
Shares short
18.59M
Days to cover
4.88
Change since prior report
+6.78%
Source
FINRA consolidated short interest

Profitability and growth

Return on invested capital
20.83%
Return on assets
7.46%
Return on capital employed
11.17%
Gross margin
26.68%
Net margin
11.05%
EBITDA margin
18.19%
Revenue growth
-6.44%
Net income growth
-1.48%
Free cash flow growth
-16.97%

Cash flow and balance sheet

Free cash flow yield (TTM)
5.95%
Current ratio
0.93x
Net debt to EBITDA
3.17x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$52.60B
Cost of revenue
$38.57B
Gross profit
$14.03B
EBITDA
$9.57B
Net income
$5.81B
Earnings per share
$2.66
Interest expense
$1.40B
Shares outstanding
2.19B

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$52.60B$14.03B$5.81B$2.66
2024-12-31$56.22B$13.64B$5.90B$2.69
2023-12-31$49.72B$12.69B$5.53B$2.52
2022-12-31$58.19B$12.35B$5.49B$2.50
2021-12-31$40.81B$10.92B$4.63B$2.10
2020-12-31$27.20B$10.48B$3.77B$1.71
2019-12-31$32.79B$10.72B$4.59B$2.09
2018-12-31$36.53B$9.74B$4.17B$1.91
2017-12-31$29.24B$7.75B$2.80B$1.30
2016-12-31$23.02B$7.31B$2.51B$1.20

Margins and returns by year

Period endGross marginNet marginReturn on capital
2025-12-3126.68%11.05%20.83%
2024-12-3124.26%10.49%22.54%
2023-12-3125.53%11.12%23.68%
2022-12-3121.23%9.43%23.83%
2021-12-3126.76%11.36%20.17%
2020-12-3138.52%13.88%16.66%
2019-12-3132.70%14.00%21.67%
2018-12-3126.67%11.42%20.43%
2017-12-3126.52%9.57%15.89%
2016-12-3131.76%10.92%15.01%

Cash and debt by year

Period endCashDebt
2025-12-31$969.00M$32.77B
2024-12-31$583.00M$30.75B
2023-12-31$180.00M$27.45B
2022-12-31$76.00M$26.55B
2021-12-31$2.82B$28.14B
2020-12-31$1.06B$28.54B
2019-12-31$334.70M$25.64B
2018-12-31$344.80M$24.68B
2017-12-31$5.10M$21.71B
2016-12-31$63.10M$21.12B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$2.96B$197.00M
2024-12-31$3.57B$188.00M
2023-12-31$4.30B$172.00M
2022-12-31$6.08B$157.00M
2021-12-31$6.29B$152.00M
2020-12-31$2.60B$159.00M
2019-12-31$1.99B$143.90M
2018-12-31$1.90B$106.10M
2017-12-31$1.56B$99.70M
2016-12-31$1.08B$89.20M

Dividend history

Most recent payment
Oct 30, 2026
Paid in the last twelve months
$2.22
Payment dateDividend per share
2026-10-30$0.56
2026-07-31$0.56
2026-04-30$0.55
2026-01-30$0.55
2025-10-31$0.55
2025-07-31$0.55
2025-04-30$0.54
2025-01-31$0.54

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-29Sep 2026$0.74
2026-07-30Jun 2026$0.75
2026-04-28Mar 2026$0.71
2026-02-03Dec 2025$0.70
2025-10-30Sep 2025$0.67
2025-07-28Jun 2025$0.65
2025-04-29Mar 2025$0.69
2025-02-04Dec 2024$0.69

Filings and sources

Company website
enterpriseproducts.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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