Energy Transfer LP (ET) Balance Sheet: Assets & Liabilities

Energy Transfer LP (ET) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Energy Transfer LP reported total assets of $141.29B and total liabilities of $92.03B. Shareholders' equity was $34.37B, down 26.0% from $46.43B a year earlier. Total debt stood at $68.33B against $1.27B in cash and short-term investments, a net debt position of $67.06B. That puts debt-to-equity at 1.99, compared with 1.29 a year earlier.

Energy Transfer LP Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Energy Transfer LP (ET) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	1.27	0.31	0.16	0.26	0.34	0.37	0.29	0.42	0.34
Short-Term Investments	0.05	0.01	0.07	0.01	0.01	0.01	0.02	0.11	0.02
Cash & Short-Term Investments	1.27	0.31	0.16	0.26	0.34	0.38	0.31	0.53	0.36
Accounts Receivable	11.28	10.19	9.05	8.47	7.65	3.95	5.20	4.19	4.56
Inventory	4.77	3.07	2.48	2.46	2.01	1.74	1.53	1.82	2.02
Other Current Assets	0.47	0.49	0.31	0.74	0.22	0.26	0.44	0.21	3.77
Total Current Assets	18.23	14.20	12.43	12.08	10.54	6.32	7.46	6.75	10.68
Non-Current Assets
Property, Plant & Equipment (Net)	103.98	96.02	86.18	81.13	82.45	75.97	75.16	66.96	61.09
Long-Term Investments	3.59	3.27	3.10	2.89	2.95	3.06	3.64	2.82	2.90
Goodwill	5.45	3.90	4.02	2.57	2.53	2.39	5.17	4.89	4.77
Intangible Assets	7.44	5.97	6.24	5.42	5.86	5.75	6.15	6.00	6.12
Other Non-Current Assets	2.24	2.02	1.44	1.56	1.33	1.66	1.57	1.01	0.89
Total Non-Current Assets	123.05	111.18	101.27	93.56	95.43	88.83	91.51	81.50	75.56
Total Assets	141.29	125.38	113.70	105.64	105.96	95.14	98.97	88.25	86.25
Current Liabilities
Accounts Payable	9.47	8.33	6.66	6.97	6.83	2.84	4.15	3.55	4.72
Short-Term Debt	0.03	0.01	1.01	0.00	0.68	0.08	0.09	2.66	0.41
Current Portion of Long-Term Debt	0.03	0.01	1.01	0.00	0.68	-	-	-	-
Accrued Liabilities	2.48	4.24	1.49	3.33	1.32	-	-	-	-
Deferred Revenue	0.71	0.68	0.55	0.49	0.35	0.00	0.00	0.00	0.00
Other Current Liabilities	1.05	0.02	0.68	0.02	1.07	2.57	3.22	2.85	2.48
Total Current Liabilities	14.96	12.66	11.28	10.37	10.84	5.92	7.72	9.31	7.90
Non-Current Liabilities
Long-Term Debt	68.31	59.75	51.38	48.26	49.02	52.26	51.93	43.37	43.67
Deferred Tax Liabilities	5.31	4.19	3.93	3.70	3.65	3.43	3.21	2.93	3.32
Other Non-Current Liabilities	1.94	5.81	1.61	5.07	1.32	1.39	1.44	1.29	1.36
Total Non-Current Liabilities	77.07	66.29	57.70	54.12	55.00	57.07	56.57	47.59	48.35
Total Liabilities	92.03	78.95	68.98	64.49	65.84	62.99	64.30	56.90	56.25
Stockholders' Equity
Common Stock	30.93	31.20	30.20	26.96	25.23	18.53	21.94	20.61	0.00
Retained Earnings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accumulated Other Comprehensive Income	0.08	0.07	0.03	0.02	0.02	0.01	-0.01	-0.04	0.00
Additional Paid-in Capital	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.64
Minority Interest	14.89	11.32	8.04	8.13	8.83	13.61	12.75	10.79	31.19
Shares Outstanding	3.44	3.43	3.37	3.09	3.08	-	-	-	-
Total Stockholders' Equity	34.37	46.43	36.68	41.15	31.30	18.54	21.92	20.56	-1.19
Total Liabilities & Equity	141.29	125.38	113.70	105.64	105.96	95.14	98.97	88.25	86.25

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Energy Transfer LP Balance Sheet

How much debt does Energy Transfer LP have?

Energy Transfer LP had total debt of $68.33B as of Dec 31, 2025, against $1.27B in cash and short-term investments. Its debt-to-equity ratio was 1.99. Total debt was $59.76B a year earlier.

What are Energy Transfer LP's total assets?

Energy Transfer LP reported total assets of $141.29B as of Dec 31, 2025, up 12.7% from $125.38B a year earlier. Total liabilities were $92.03B.

What is Energy Transfer LP's shareholders' equity?

Energy Transfer LP's shareholders' equity was $34.37B as of Dec 31, 2025, or about $9.99 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition