Enterprise Products Partners L.P
enterpriseproducts.comHow Do They Make Money?
Sources
-
10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by reportable segment ↗
Revenue, FY2025
$52.6B
Sources
-
10-K for FY2025, filed Feb 27, 2026
$52.6B ↗
| Segment | Share | Revenue |
|---|---|---|
|
NGL Pipelines & Services
|
33%
FY2022: 42%
|
NGL Pipelines & Services, FY2025
$17.3B Sources
|
|
Crude Oil Pipelines & Services
|
39%
FY2022: 32%
|
Crude Oil Pipelines & Services, FY2025
$20.8B Sources
|
|
Natural Gas Pipelines & Services
|
7.9%
FY2022: 11%
|
Natural Gas Pipelines & Services, FY2025
$4.2B Sources
|
|
Petrochemical & Refined Products Services
|
20%
FY2022: 16%
|
Petrochemical & Refined Products Services, FY2025
$10.4B Sources
|
Do Revenues Turn Into Profits?
Yes. It kept 11 cents of every revenue dollar as net income in FY2025 and turned 6 cents into free cash flow.
Operating income, FY2025
Sources
10-K for FY2025, filed Feb 27, 2026
$7.3BView ↗
▼ −1%
vs FY2024 ($7.3B, 13%)
Net income, FY2025
Sources
10-K for FY2025, filed Feb 27, 2026
$5.8BView ↗
▼ −1%
vs FY2024 ($5.9B, 10%)
Free cash flow, FY2025
Sources
10-K for FY2025, filed Feb 27, 2026
$3BView ↗
▼ −17%
vs FY2024 ($3.6B, 6%)
How Are They Changing?
Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Crude Oil Pipelines & Services share of revenue
vs 42.1% in Q2 FY2025
Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Growing. Revenue grew 29% in 4 years, from $40.8B in FY2021 to $52.6B in FY2025, about 7% a year.
Revenue over time
NGL Pipelines & Services
Crude Oil Pipelines & Services
Natural Gas Pipelines & Services
Petrochemical & Refined Products Services
$100B$50B$0
$16.3B
$24.3B
$18.6B
$17.6B
$19.3B
$20.3B
$21.6B
$17.3B
$20.8B
100%50%0%
40%
27%
23%
42%
32%
16%
35%
39%
18%
36%
38%
20%
33%
39%
20%
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