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.
- Symbol
- EPD
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Market cap
- $82.09B
- 52 week range
- 30.01 - 40.17
Valuation
- Share price
- $37.57 (close of 2026-09-23)
- P/E (TTM)
- 13.03x
- Price to free cash flow
- 23.73x
- Enterprise value
- $115.86B
Price performance
| Period | Change |
|---|
| 1 day | -2.34% |
| 5 days | -3.20% |
| 1 month | -1.16% |
| 3 months | +1.19% |
| 6 months | -1.42% |
| Year to date | +17.19% |
| 1 year | +19.42% |
| 3 years | +37.17% |
| 5 years | +71.55% |
| 10 years | +37.72% |
| All time | +598.33% |
Profitability and growth
- Return on equity
- 0.00%
- Return on invested capital
- 21.43%
- Return on assets
- 7.46%
- Return on capital employed
- 11.17%
- Gross margin
- 26.68%
- Net margin
- 11.05%
- EBITDA margin
- 17.78%
- 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)
- 4.21%
- Current ratio
- 0.93x
- Net debt to EBITDA
- 3.27x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $52.60B
- Cost of revenue
- $38.57B
- Gross profit
- $14.03B
- EBITDA
- $9.35B
- Net income
- $5.81B
- Earnings per share
- $2.66
- Shares outstanding
- 2.19B
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 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 end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 26.68% | 11.05% | 0.00% | 21.43% |
| 2024-12-31 | 24.26% | 10.49% | 0.00% | 22.96% |
| 2023-12-31 | 25.53% | 11.12% | 0.00% | 23.83% |
| 2022-12-31 | 21.23% | 9.43% | 0.00% | 23.90% |
| 2021-12-31 | 26.76% | 11.36% | 0.00% | 22.27% |
| 2020-12-31 | 38.52% | 13.88% | 0.00% | 17.27% |
| 2019-12-31 | 32.70% | 14.00% | 0.00% | 21.94% |
| 2018-12-31 | 26.67% | 11.42% | 0.00% | 20.70% |
| 2017-12-31 | 26.52% | 9.57% | 0.00% | 15.89% |
| 2016-12-31 | 31.76% | 10.92% | 0.00% | 15.05% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 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 end | Free cash flow | Stock-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
- 2026-07-31
- Paid in the last twelve months
- $2.21
| Payment date | Dividend per share |
|---|
| 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 |
| 2024-10-31 | $0.53 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-29
- Consensus EPS estimate
- $0.75
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-30 | Jun/2026 | $0.75 |
| 2026-04-28 | - | - |
| 2026-02-03 | - | - |
| 2025-10-30 | - | - |
| 2025-07-28 | - | - |
| 2025-04-29 | - | - |
| 2025-02-04 | - | - |
| 2025-01-30 | - | - |
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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