Energy Transfer LP (ET)
Energy Transfer LP functions as a comprehensive provider of energy infrastructure and associated services. The company operates extensive natural gas networks, including approximately 11,600 miles of intrastate transportation pipelines and an additional 19,830 miles dedicated to interstate transport. Its natural gas storage capabilities encompass three facilities in Texas and another two spanning Texas and Oklahoma. Energy Transfer supplies natural gas to a diverse range of customers, such as electric utilities, independent power producers, local distribution companies, other marketing firms, and various industrial end-users. Beyond transportation, the firm manages substantial infrastructure for gathering, processing, treating, and conditioning natural gas and natural gas liquids (NGLs) across a broad geographic area that includes Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana. This infrastructure also covers natural gas gathering systems in Ohio, and integrated natural gas gathering, oil pipeline, and oil stabilization facilities situated in South Texas. Additionally, the company provides water transport and supply services to natural gas producers in Pennsylvania. In the NGL sector, Energy Transfer possesses approximately 5,215 miles of NGL pipelines, along with facilities for NGL and propane fractionation. Its NGL storage solutions include facilities with a working capacity of around 50 million barrels (MMBbls), supplemented by additional storage assets and terminals totaling about 17 MMBbls. The company is actively involved in the transportation, terminalling, acquisition, and marketing of crude oil, as well as the distribution of refined petroleum products like gasoline, middle distillates, and motor fuels. Complementing these primary operations, Energy Transfer offers specialized services such as natural gas compression, removal of carbon dioxide and hydrogen sulfide, natural gas cooling, dehydration, and British thermal unit (BTU) management. Furthermore, its operations extend to managing coal and other natural resource properties, selling standing timber, leasing coal-related infrastructure, collecting oil and gas royalties, and generating electrical power. Established in 1996 and headquartered in Dallas, Texas, the company officially adopted its current name, Energy Transfer LP, in October 2018, having previously been known as Energy Transfer Equity, L.P.
Sector: Natural Gas Transmission
Industry: Oil & Gas Midstream
Energy Transfer LP
TXSE:ETEnergy · Oil & Gas Midstream
+2.05%$20.45
AH Close$20.39-0.29%vs close
AH Close$20.39-0.29%vs close
Mkt Cap$70.42B
Float3.39B
O/S3.44B
Inst Own31.6%
SI0.8%
Div Yield6.58%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$82.63B
Net Income$4.9B
Total Assets$141.74B
Free Cash Flow$3.85B
Debt & Equity
Debt 65%
Equity 31%
Preferred 3%
Total Debt$71.61B
Total Equity$34.37B
Preferred Stock$3.36B
Shares Outstanding
Short Interest
Split History2 splits
- 2:1Forward splitJul 27, 20151 share → 2
- 2:1Forward splitJan 27, 20141 share → 2
Balance Sheet Details
Assets$141.74B
Liabilities$92.48B
Accounts Receivable$11.45B
Accounts Payable$9.51B
Inventory$4.99B
PP&E (Net)$103.98B
Goodwill$5.45B
Intangible Assets$7.44B
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-08-31 | 2006-08-31 | 2005-08-31 | 2004-08-31 |
| Revenue | $82.63B | $82.67B | $78.59B | $89.88B | $67.42B | $38.95B | $54.21B | $54.09B | $40.52B | $37.5B | $42.13B | $55.69B | $48.34B | $16.96B | $8.24B | $6.6B | $5.42B | $9.29B | $6.79B | $7.86B | $6.17B | $2.35B |
| YoY Growth | -0.1% | 5.2% | -12.6% | 33.3% | 73.1% | -28.1% | 0.2% | 33.5% | 8.0% | -11.0% | -24.4% | 15.2% | 184.9% | 105.9% | 24.9% | 21.8% | -41.7% | 36.8% | -13.6% | 27.4% | 162.8% | - |
| Cost of Revenue | $64.62B | $66.98B | $64.78B | $76.57B | $53.97B | $28.7B | $43.09B | $44.69B | $33.61B | $25.89B | $30.72B | $50.38B | $44.12B | $14.15B | $6.1B | $4.11B | $3.12B | $7.72B | $5.08B | $6.99B | $5.7B | $1.98B |
| Gross Profit | $18.01B | $15.69B | $13.8B | $13.31B | $13.45B | $10.25B | $11.12B | $9.39B | $6.91B | $5.9B | $5.38B | $5.31B | $4.21B | $2.81B | $2.14B | $2.49B | $2.3B | $1.57B | $1.71B | $867.79M | $467.73M | $365.53M |
| Gross Margin | 21.8% | 19.0% | 17.6% | 14.8% | 19.9% | 26.3% | 20.5% | 17.4% | 17.1% | 15.7% | 12.8% | 9.5% | 8.7% | 16.6% | 26.0% | 37.7% | 42.4% | 16.9% | 25.2% | 11.0% | 7.6% | 15.6% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $1.02B | $1.34B | $1.11B | $1.02B | $818M | $711M | $694M | $702M | $599M | $791M | $803M | $744M | $660M | $517M | $292.16M | $234.32M | $178.92M | $200.18M | $713.11M | $162.62M | $64.06M | $31.11M |
| Other | $7.55B | $5.22B | $4.4B | $4.55B | $3.84B | $6.56B | $3.22B | $3.29B | $3.59B | $3.26B | $2.29B | $2.09B | $2B | $0 | $611.81M | $1.22B | $1.01B | $274.37M | $191.38M | $129.64M | $105.75M | $203.62M |
| Total Operating Expenses | $8.57B | $6.55B | $5.51B | $5.57B | $4.66B | $7.27B | $3.92B | $3.99B | $4.19B | $4.05B | $3.09B | $2.84B | $2.66B | $340M | $903.97M | $1.45B | $1.18B | $474.55M | $904.5M | $292.25M | $169.81M | $234.73M |
| Operating Income (EBIT) | $9.44B | $9.14B | $8.29B | $7.74B | $8.79B | $2.98B | $7.2B | $5.4B | $2.71B | $1.85B | $2.29B | $2.47B | $1.55B | $1.36B | $1.23B | $1.04B | $1.11B | $1.1B | $809.34M | $575.54M | $297.92M | $130.81M |
| Operating Margin | 11.4% | 11.1% | 10.6% | 8.6% | 13.0% | 7.7% | 13.3% | 10.0% | 6.7% | 4.9% | 5.4% | 4.4% | 3.2% | 8.0% | 15.0% | 15.7% | 20.5% | 11.8% | 11.9% | 7.3% | 4.8% | 5.6% |
| Interest Expense | $3.32B | $3.13B | $2.58B | $2.31B | $2.27B | $2.33B | $2.33B | $2.06B | $1.92B | $1.8B | $1.62B | $1.37B | $1.22B | $1.08B | $739.81M | $624.89M | $468.42M | $357.54M | $316.42M | $150.65M | $141.12M | $41.22M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$3.15B | -$2.03B | -$2.7B | -$1.67B | -$1.92B | -$2.6B | -$2.18B | -$1.77B | -$2.01B | -$1.65B | -$1.39B | -$1.05B | -$1.18B | $77M | -$689.69M | -$685.17M | -$403.3M | -$415.34M | -$245.98M | -$141.63M | -$79.89M | $353.91M |
| Income Before Tax (EBT) | $6.29B | $7.11B | $5.6B | $6.07B | $6.87B | $377M | $5.02B | $3.63B | $710M | -$176M | $993M | $1.42B | $375M | $1.44B | $545.13M | $351.56M | $707.1M | $683.56M | $563.36M | $433.91M | $104.85M | $449.55M |
| Income Tax Expense | $222M | $541M | $303M | $204M | $184M | $237M | $195M | $4M | -$1.83B | -$217M | -$100M | $357M | $93M | $54M | $16.88M | $13.74M | $9.23M | $3.81M | $11.39M | $23.02M | $4.4M | $2.79M |
| Net Income | $4.9B | $4.81B | $3.94B | $4.76B | $5.47B | -$648M | $3.52B | $1.69B | $954M | $995M | $1.19B | $633M | $196M | $304M | $309.81M | $192.76M | $442.47M | $375.04M | $319.36M | $107.14M | $146.75M | $450.22M |
| Net Income Margin | 5.9% | 5.8% | 5.0% | 5.3% | 8.1% | -1.7% | 6.5% | 3.1% | 2.4% | 2.7% | 2.8% | 1.1% | 0.4% | 1.8% | 3.8% | 2.9% | 8.2% | 4.0% | 4.7% | 1.4% | 2.4% | 19.2% |
| Supplementary Data | ||||||||||||||||||||||
| EPS | 1.36 | 1.29 | 1.10 | 1.40 | 1.89 | -0.24 | 1.34 | 1.19 | 0.85 | 0.94 | 1.11 | 0.58 | 0.18 | 0.28 | 0.35 | 0.22 | 0.50 | 0.42 | 0.39 | 0.20 | 0.33 | 1.06 |
| Diluted EPS | 1.35 | 1.28 | 1.09 | 1.40 | 1.89 | -0.24 | 1.33 | 1.16 | 0.80 | 0.92 | 1.11 | 0.57 | 0.18 | 0.28 | 0.35 | 0.22 | 0.50 | 0.42 | 0.39 | 0.20 | 0.27 | 0.85 |
| Weighted Average OS | 3.65B | 3.40B | 3.16B | 3.09B | 2.73B | 2.70B | 2.63B | 1.42B | 1.08B | 1.05B | 1.06B | 1.09B | 1.12B | 1.07B | 891.80M | 891.76M | 891.59M | 891.32M | 818.31M | 535.28M | 447.76M | 422.83M |
| EBITDA | $15.29B | $15.4B | $12.56B | $12.29B | $12.63B | $9.54B | $10.5B | $8.69B | $6.31B | $5.11B | $4.59B | $4.56B | $3.55B | $3.39B | $1.87B | $1.39B | $1.5B | $1.18B | $1.01B | $709.13M | $409.62M | -$205.83M |
| EBITDA Margin | 18.5% | 18.6% | 16.0% | 13.7% | 18.7% | 24.5% | 19.4% | 16.1% | 15.6% | 13.6% | 10.9% | 8.2% | 7.4% | 20.0% | 22.7% | 21.1% | 27.7% | 12.7% | 14.8% | 9.0% | 6.6% | -8.8% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-08-31 | 2006-08-31 | 2005-08-31 | 2004-08-31 |
| Assets | ||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||
| Cash and Cash Equivalents | $1.27B | $312M | $161M | $257M | $336M | $367M | $291M | $419M | $336M | $467M | $606M | $847M | $590M | $372M | $126.34M | $86.26M | $68.31M | $92.02M | $77.35M | $26.2M | $33.46M | $82.85M |
| Short-Term Investments | $52M | $9M | $66M | $10M | $10M | $9M | $23M | $111M | $24M | $21M | $46M | $81M | $39M | $25M | $17.03M | $18.39M | $18.43M | $11.34M | $3M | $2.82M | $3.45M | $2.46M |
| Cash and Short-Term Investments | $1.32B | $321M | $227M | $267M | $346M | $376M | $314M | $530M | $360M | $488M | $652M | $928M | $629M | $397M | $143.37M | $104.65M | $86.74M | $103.36M | $59.56M | $29.02M | $548.55M | $85.32M |
| Accounts Receivable | $11.45B | $10.33B | $9.21B | $8.56B | $7.71B | $3.95B | $5.2B | $4.19B | $4.56B | $3.6B | $2.85B | $3.41B | $3.72B | $3.13B | $802.2M | $710.61M | $641.55M | $651.61M | $877.42M | $699.37M | $949.98M | $260.02M |
| Inventory | $4.99B | $3.07B | $2.68B | $2.46B | $2.01B | $1.74B | $1.53B | $1.82B | $2.02B | $2.06B | $1.71B | $1.47B | $1.86B | $1.52B | $394.19M | $418.58M | $469.65M | $272.35M | $192.28M | $387.14M | $302.89M | $53.26M |
| Other Current Assets | $472M | $159M | $308M | $412M | $257M | $119M | $264M | $209M | $3.54B | $400M | $203M | $207M | $263M | $575M | $115.67M | $57.17M | $70.02M | $83.66M | $42.27M | $144.66M | $138.96M | $75.55M |
| Total Current Assets | $18.23B | $14.2B | $12.43B | $12.08B | $10.54B | $6.32B | $7.46B | $6.75B | $10.68B | $6.9B | $5.41B | $6.14B | $6.54B | $5.6B | $1.46B | $1.29B | $1.27B | $1.18B | $1.05B | $1.3B | $1.47B | $481.87M |
| Long-Term Assets | ||||||||||||||||||||||
| Property, Plant & Equipment Net | $103.98B | $96.02B | $86.18B | $81.13B | $82.44B | $75.97B | $75.16B | $66.96B | $61.09B | $53.58B | $48.68B | $40.29B | $30.68B | $28.28B | $14.56B | $11.85B | $9.06B | $8.7B | $5.97B | $3.75B | $2.89B | $1.92B |
| Goodwill | $5.45B | $3.9B | $4.02B | $2.57B | $2.53B | $2.39B | $5.17B | $4.88B | $4.77B | $5.67B | $7.47B | $7.87B | $5.89B | $6.43B | $2.04B | $1.6B | $775.09M | $773.28M | $748.02M | $634M | $0 | $348.76M |
| Intangible Assets | $7.44B | $5.97B | $6.24B | $5.42B | $5.86B | $5.75B | $6.15B | $6B | $6.12B | $5.51B | $5.43B | $5.58B | $2.26B | $2.29B | $1.07B | $1.26B | $389.68M | $402.98M | $356.65M | $185.74M | $472.05M | $0 |
| Long-Term Investments | $3.8B | $3.27B | $3.22B | $2.89B | $2.95B | $3.06B | $3.64B | $2.82B | $2.9B | $3.23B | $3.65B | $3.85B | $4.41B | $4.78B | $1.52B | $1.37B | $663.3M | $10.11M | $1.5B | $663.25M | $0 | $8.01M |
| Deferred Tax Assets | $454M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $26.01M | $0 | $0 | $0 | -$1.5B | -$663.25M | $0 | $0 |
| Other Long-Term Assets | $2.38B | $2.02B | $1.73B | $1.56B | $1.65B | $1.66B | $1.57B | $1.01B | $886M | $4.23B | $730M | $742M | $544M | $1.52B | $248.91M | $13.97M | $0 | $0 | $56.72M | $53.06M | $92.14M | $111.28M |
| Total Long-Term Assets | $123.51B | $111.18B | $101.27B | $93.56B | $95.43B | $88.83B | $91.51B | $81.5B | $75.56B | $72.03B | $65.78B | $58.14B | $43.79B | $43.31B | $19.44B | $16.09B | $10.89B | $9.89B | $7.13B | $4.62B | $3.45B | $2.38B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $141.74B | $125.38B | $113.7B | $105.64B | $105.96B | $95.14B | $98.97B | $88.25B | $86.25B | $78.92B | $71.19B | $64.28B | $50.33B | $48.9B | $20.9B | $17.38B | $12.16B | $11.07B | $8.18B | $5.92B | $4.92B | $2.87B |
| Liabilities | ||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||
| Accounts Payable | $9.51B | $8.32B | $6.68B | $6.97B | $6.83B | $2.84B | $4.15B | $3.55B | $4.72B | $3.54B | $2.3B | $3.37B | $3.85B | $3.12B | $545M | $448.91M | $397.69M | $416.43M | $721.13M | $603.85M | $819.22M | $237.14M |
| Short-Term Debt | $270M | $8M | $1B | $48M | $677M | $20M | $20M | $2.65B | $413M | $1.19B | $131M | $1.01B | $637M | $0 | $424.16M | $35.3M | $40.92M | $45.23M | $47.06M | $40.61M | $39.38M | $31.23M |
| Current Income Tax Payable | $0 | $737M | $646M | $519M | $384M | $446M | $263M | $256M | $288M | $201M | $76M | $290M | $215M | $249M | $94.11M | $0 | $0 | $14.3M | $252K | $0 | $0 | $2.25M |
| Current Unearned Revenue | $366M | $0 | $0 | $268M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $100.53M | $583.69M | $385.98M | $498.15M | $253.42M | $205.86M | $151.97M | $88.77M |
| Other Current Liabilities | $4.32B | $2.4B | $1.84B | $2.71B | $2.03B | $1.86B | $2.43B | $1.99B | $1.65B | $1.54B | $1.66B | $1.4B | $1.27B | $2.72B | $758.98M | $495.52M | $403.2M | $611.98M | $121.63M | $170.48M | $371.85M | $118.32M |
| Total Current Liabilities | $14.96B | $12.66B | $11.28B | $10.37B | $10.84B | $5.92B | $7.72B | $9.31B | $7.9B | $7.28B | $4.91B | $6.68B | $6.5B | $5.84B | $1.84B | $1.08B | $889.75M | $1.21B | $932.82M | $1.02B | $1.26B | $404.92M |
| Long-Term Liabilities | ||||||||||||||||||||||
| Long-Term Debt | $69.74B | $59.7B | $51.36B | $48.25B | $49.01B | $51.41B | $51B | $43.37B | $43.67B | $42.86B | $36.84B | $29.48B | $22.56B | $21.44B | $10.95B | $9.35B | $7.75B | $7.19B | $5.87B | $3.21B | $2.28B | $1.07B |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $5.76B | $4.19B | $3.93B | $3.7B | $3.65B | $3.43B | $3.21B | $2.93B | $3.31B | $5.11B | $4.59B | $4.41B | $3.87B | $3.57B | $217M | $0 | $204.37M | $194.87M | $199.93M | $207.88M | $215.12M | $216.73M |
| Other Long-Term Liabilities | $426M | $1.62B | $1.61B | $1.36B | $1.52B | $1.39B | $1.44B | $1.29B | $1.36B | $1.23B | $1.24B | $1.38B | $1.12B | $1.7B | $504M | $703.86M | $95.14M | $136.44M | $12.99M | $4.95M | $45.81M | $845K |
| Total Long-Term Liabilities | $77.53B | $66.29B | $57.7B | $54.12B | $55B | $57.07B | $56.57B | $47.59B | $48.35B | $49.17B | $42.63B | $35.23B | $27.52B | $26.71B | $11.67B | $10.05B | $8.05B | $7.52B | $5.41B | $3.42B | $2.54B | $1.29B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $92.48B | $78.95B | $68.98B | $64.49B | $65.83B | $62.99B | $64.3B | $56.9B | $56.24B | $56.45B | $47.54B | $41.92B | $34.02B | $32.48B | $13.51B | $11.13B | $8.94B | $8.73B | $6.35B | $4.44B | $3.79B | $1.69B |
| Stockholders' Equity | ||||||||||||||||||||||
| Preferred Stock | $3.36B | $3.85B | $6.46B | $6.05B | $6.05B | $0 | $0 | $0 | $450M | $180M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $30.93B | $31.2B | $30.2B | $26.96B | $25.23B | $18.53B | $21.93B | $20.61B | $0 | $0 | $0 | $670M | $1.07B | $2.13B | $0 | $0 | $0 | $0 | -$4.44M | $0 | $772K | $0 |
| Retained Earnings | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Comprehensive Income & Other | $82M | $73M | $28M | $16M | $23M | $6M | -$11M | -$42M | $0 | $0 | $0 | -$5M | $9M | $0 | $678K | $4.8M | -$53.63M | -$67.83M | -$11.23M | $45.75M | -$88.91M | $11K |
| Other Stockholders' Equity | $3.44B | $3.92B | $6.49B | $6.07B | $6.07B | $6M | -$11M | -$42M | -$1.19B | -$1.69B | -$930M | -$5M | $9M | -$12M | $124.31M | $438.27M | $73.48M | $38.28M | -$42.7M | $45.75M | -$88.91M | -$368.31M |
| Total Equity | $34.37B | $35.12B | $36.68B | $33.03B | $31.3B | $18.54B | $21.92B | $20.56B | -$1.19B | -$1.69B | -$930M | $665M | $1.08B | $2.11B | $124.31M | $438.27M | $73.48M | $38.28M | -$47.13M | $45.75M | -$88.14M | -$368.31M |
| Minority Interest | $14.89B | $11.31B | $8.03B | $8.13B | $8.82B | $13.61B | $12.75B | $10.79B | $31.19B | $24.17B | $24.58B | $21.7B | $15.23B | $14.31B | $7.34B | $6.13B | $3.22B | $2.42B | $1.88B | $1.44B | $1.21B | $803.22M |
| Total Liabilities and Equity | $126.85B | $114.07B | $105.67B | $97.52B | $97.14B | $81.53B | $86.22B | $77.46B | $55.05B | $54.76B | $46.61B | $42.58B | $35.1B | $34.59B | $13.63B | $11.57B | $9.01B | $8.77B | $6.3B | $4.49B | $3.7B | $1.33B |
| Supplementary Data | ||||||||||||||||||||||
| Total Debt | $71.61B | $60.56B | $53.22B | $49.11B | $50.57B | $52.33B | $52.02B | $46.03B | $44.08B | $44.05B | $36.97B | $30.48B | $23.2B | $22.38B | $11.37B | $9.38B | $7.79B | $7.24B | $5.25B | $3.25B | $2.33B | $1.1B |
| Net Debt | $70.34B | $60.25B | $53.06B | $48.85B | $50.23B | $51.96B | $51.73B | $45.61B | $43.75B | $43.59B | $36.36B | $29.64B | $22.61B | $22.01B | $11.24B | $9.3B | $7.72B | $7.14B | $5.17B | $3.22B | $2.3B | $1.02B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-08-31 | 2006-08-31 | 2005-08-31 | 2004-08-31 |
| Operating Activities | ||||||||||||||||||||||
| Net Income | $5.71B | $6.57B | $5.29B | $5.87B | $6.69B | $140M | $4.83B | $3.42B | $2.37B | $0 | $1.06B | $1.12B | $315M | $1.27B | $528M | $337M | $697.87M | $679.75M | $319.36M | $107.14M | $146.75M | $450.22M |
| Depreciation & Amortization | $5.68B | $5.17B | $4.38B | $4.16B | $3.82B | $3.68B | $3.15B | $2.86B | $2.55B | $2.22B | $1.95B | $1.72B | $1.31B | $871M | $586M | $406M | $325.02M | $274.37M | $198.07M | $133.59M | $111.7M | $58.49M |
| Deferred Income Tax | $178M | $276M | $203M | $187M | $141M | $210M | $217M | -$7M | -$1.87B | -$201M | $242M | -$50M | $43M | $51M | -$13.16M | $13.91M | $8.42M | -$8.18M | -$6.94M | -$6.72M | -$1.61M | -$5.41M |
| Stock-Based Compensation | $148M | $151M | $130M | $115M | $111M | $121M | $113M | $105M | $99M | $70M | $91M | $82M | $61M | $47M | $42M | $31M | $25.83M | $25.55M | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||
| Accounts Receivable | -$46M | -$760M | -$176M | -$840M | -$3.32B | $873M | -$542M | $703M | -$924M | -$1.08B | $851M | $630M | -$500M | $272M | -$17M | $67M | $24.18M | $215.98M | $45.56M | $203.95M | -$263.56M | -$101.97M |
| Inventory | -$717M | -$735M | $35M | -$361M | -$19M | -$271M | -$19M | $237M | $58M | -$480M | -$212M | $51M | -$254M | -$258M | $51M | $15M | -$101.59M | $96.14M | $196.17M | -$83.45M | -$116.89M | $35.46M |
| Accounts Payable | -$346M | $1.28B | -$539M | $31M | $3.8B | -$960M | $114M | -$968M | $534M | $1.11B | -$670M | -$845M | $401M | -$897M | $27M | -$77M | -$11.84M | -$309.72M | $0 | $0 | $0 | $0 |
| Other Working Capital | -$867M | $19M | $229M | -$332M | $52M | $405M | $56M | $262M | $140M | $279M | -$841M | -$67M | $204M | $332M | $97M | $255M | -$259.39M | $129.17M | $6.36M | -$220.88M | $220.66M | $76.91M |
| Total Working Capital Change | -$1.98B | -$196M | -$451M | -$1.5B | $515M | $47M | -$391M | $234M | -$192M | -$179M | -$872M | -$231M | -$149M | -$551M | $158M | $260M | -$348.64M | $131.57M | $248.1M | -$100.38M | -$159.78M | $10.39M |
| Other Non-Cash Items | $409M | -$455M | -$6M | $219M | -$109M | $3.17B | $145M | $895M | $1.47B | $1.39B | $506M | $526M | $836M | -$614M | $77.16M | $40.09M | $14.95M | $40.64M | -$4.1M | $177.15M | -$58.92M | -$391.59M |
| Net Cash from Operating | $10.15B | $11.51B | $9.55B | $9.05B | $11.16B | $7.36B | $8.06B | $7.51B | $4.43B | $3.32B | $2.98B | $3.17B | $2.42B | $1.08B | $1.38B | $1.09B | $723.46M | $1.14B | $754.5M | $310.78M | $38.13M | $122.1M |
| Investing Activities | ||||||||||||||||||||||
| Capital Expenditures | -$6.3B | -$4.16B | -$3.13B | -$3.38B | -$2.82B | -$5.13B | -$5.96B | -$7.41B | -$8.44B | -$8.09B | -$9.39B | -$5.38B | -$3.5B | -$3.27B | -$1.81B | -$1.51B | -$748.62M | -$2.05B | -$1.1B | -$680.16M | -$196.46M | -$109.69M |
| Acquisitions | -$2.26B | -$2.83B | -$1.33B | -$839M | -$209M | -$38M | -$299M | $6M | $2.63B | -$1.64B | -$945M | -$1.81B | $946M | -$1.37B | -$2.12B | -$437.84M | $30.37M | -$84.78M | -$90.69M | -$586.18M | -$1.13B | -$622.93M |
| Purchases of Investments | $0 | -$84M | $0 | $0 | -$4M | -$38M | -$523M | -$26M | -$268M | -$68M | -$45M | -$334M | -$3M | -$37M | $0 | $0 | $0 | $19.42M | -$993.87M | -$4.65M | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $4M | $38M | $0 | $7.41B | $3.48B | -$7.87B | $9.39B | $5.38B | $3.5B | $3.27B | $0 | $0 | $0 | $54.53M | $0 | $6.94M | $0 | $0 |
| Other Investing Activities | $191M | $1.17B | $135M | $198M | $256M | $270M | $98M | -$7.05B | -$3B | $8.2B | -$9.1B | -$4.65B | -$3.29B | -$2.79B | $58.65M | $117.84M | -$627.5M | $50.05M | $23.14M | $19.65M | $194.55M | $786K |
| Net Cash from Investing | -$8.37B | -$5.9B | -$4.33B | -$4.02B | -$2.77B | -$4.9B | -$6.68B | -$7.08B | -$5.61B | -$9.47B | -$10.09B | -$6.79B | -$2.35B | -$4.2B | -$3.87B | -$1.83B | -$1.35B | -$2.02B | -$2.16B | -$1.24B | -$1.13B | -$731.83M |
| Financing Activities | ||||||||||||||||||||||
| Debt Repaid | -$4.82B | -$4.74B | -$714M | $843M | $6.05B | -$307M | -$2.48B | -$53M | -$85M | -$6.97B | -$6.63B | -$4.49B | -$983M | -$4.02B | -$2B | -$311M | -$522.02M | -$1.29B | -$680.53M | -$928.75M | -$1.22B | -$383.9M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $889M | $1.58B | $780M | $1.4B | $3.8B | $2.56B | $3.89B | $3.06B | $1.76B | $1.1B | $1.9B | $1.55B | $936.34M | $373.06M | $372.43M | $473.98M | $507.72M | $528.13M |
| Common Stock Repurchases | $0 | -$3.47B | $0 | $0 | -$31M | $0 | -$25M | -$24M | -$53M | $0 | -$1.06B | -$1B | -$340M | $0 | $0 | $0 | $0 | $0 | $0 | -$369.44M | $0 | $0 |
| Dividends Paid | -$4.72B | -$4.62B | -$4.25B | -$3.05B | -$1.9B | -$2.8B | -$3.05B | -$1.68B | -$1.01B | -$1.02B | -$1.09B | -$819M | -$731M | -$666M | -$526M | -$483M | -$469.2M | -$434.52M | -$87.17M | -$101.26M | -$666.75M | -$263.77M |
| Other Financing Activities | -$1.88B | -$2.1B | -$1.79B | -$1.22B | -$438M | -$1.47B | -$1.66B | -$1.28B | -$1.87B | -$29M | -$1.58B | -$2.85B | -$106M | -$1.1B | -$785.18M | -$2.06M | -$390.57M | $0 | $488.95M | -$5.67M | -$28.89M | $0 |
| Net Cash from Financing | -$816M | -$5.45B | -$5.33B | -$5.11B | -$8.42B | -$2.39B | -$1.6B | -$3.08B | $953M | $5.93B | $6.79B | $3.88B | $146M | $3.36B | $2.54B | $761.05M | $598.59M | $1.23B | $1.45B | $926.37M | $1.03B | $637.51M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.73B | $93M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $960M | $151M | -$96M | -$79M | -$31M | $76M | -$128M | $83M | -$131M | -$123M | -$241M | $257M | $218M | $246M | $40.08M | $17.95M | -$23.71M | $35.47M | $51.15M | -$7.25M | -$49.39M | $27.78M |
| Supplementary Data | ||||||||||||||||||||||
| Operating Cash Flow | $10.15B | $11.51B | $9.55B | $9.05B | $11.16B | $7.36B | $8.15B | $7.51B | $4.43B | $3.42B | $3.07B | $3.17B | $2.42B | $1.08B | $1.38B | $1.09B | $723.46M | $823.76M | $754.5M | $310.78M | $56.45M | $122.1M |
| Capital Expenditure | -$6.3B | -$4.16B | -$3.13B | -$3.38B | -$2.82B | -$5.13B | -$5.96B | -$7.41B | -$8.44B | -$8.09B | -$9.39B | -$5.38B | -$3.5B | -$3.27B | -$1.81B | -$1.51B | -$748.62M | -$2.05B | -$1.1B | -$680.16M | -$196.46M | -$109.69M |
| Free Cash Flow | $3.85B | $7.34B | $6.42B | $5.67B | $8.34B | $2.23B | $2.19B | $99M | -$4.01B | -$4.67B | -$6.32B | -$2.21B | -$1.09B | -$2.19B | -$433.54M | -$423.1M | -$25.16M | -$1.23B | -$342.17M | -$369.38M | -$140.01M | $12.41M |
| Cash at Beginning | $312M | $161M | $257M | $336M | $367M | $291M | $419M | $336M | $467M | $606M | $847M | $590M | $372M | $126M | $86.26M | $68.31M | $92.02M | $56.56M | $26.2M | $33.46M | $82.85M | $55.07M |
| Cash at End | $1.27B | $312M | $161M | $257M | $336M | $367M | $291M | $419M | $336M | $483M | $606M | $847M | $590M | $372M | $126.34M | $86.26M | $68.31M | $92.02M | $77.35M | $26.2M | $33.46M | $82.85M |