NYSE : GEL
Genesis Energy, L.P. — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 14.62 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.79B
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Financial statements
Genesis Energy, L.P. (GEL) reported revenue of 1.83B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.83B | 1.63B | 1.66B | 1.72B | 2.79B | 2.13B |
| Cost of Revenue | 1.19B | 1.05B | 1.18B | 1.25B | 2.15B | 1.68B |
| Gross Profit | 643.08M | 576.60M | 477.97M | 468.80M | 637.82M | 446.63M |
| Selling, General & Admin | 86.38M | 86.34M | 58.33M | 64.55M | 66.60M | 61.19M |
| Operating Expenses | 328.41M | 318.41M | 265.01M | 263.67M | 362.80M | 370.93M |
| Operating Income | 314.66M | 258.19M | 212.96M | 205.13M | 275.01M | 75.70M |
| Interest Expense | -268.87M | -264.73M | -261.88M | -219.06M | -226.16M | -233.72M |
| Earnings From Equity Investments | 55.33M | 47.63M | 58.29M | 66.20M | 54.21M | 57.90M |
| Other Non Operating Income (Expenses) | -18.58M | -34.60M | ||||
| EBT Excluding Unusual Items | 101.12M | 41.09M | 9.38M | 52.26M | 84.48M | -134.74M |
| Gain (Loss) on Sale of Assets | 17.44M | 40.00M | ||||
| Asset Writedown | -43.00M | |||||
| Other Unusual Items | 14.88M | -9.78M | -15.37M | -4.63M | 7.82M | -1.63M |
| Pretax Income | 133.44M | 31.31M | -48.99M | 47.63M | 132.30M | -136.36M |
| Income Tax Expense | 638.00K | 806.00K | 1.77M | 456.00K | 3.17M | 1.67M |
| Earnings From Continuing Operations | 132.80M | 30.50M | -50.77M | 47.18M | 129.13M | -138.03M |
| Earnings From Discontinued Operations | -423.75M | 17.76M | 99.17M | |||
| Net Income to Company | 132.80M | -393.24M | -33.01M | 146.35M | 129.13M | -138.03M |
| Minority Interest in Earnings | -54.07M | -47.16M | -30.94M | -28.63M | -53.68M | -27.04M |
| Net Income | 78.73M | -440.40M | -63.95M | 117.72M | 75.46M | -165.07M |
| Preferred Dividends & Other Adjustments | 54.15M | 73.01M | 87.58M | 90.72M | 80.05M | 74.74M |
| Net Income to Common | 24.59M | -513.41M | -151.52M | 27.00M | -4.59M | -239.80M |
| Shares Outstanding (Basic) | 122.45M | 122.46M | 122.46M | 122.53M | 122.58M | 122.58M |
| Shares Outstanding (Diluted) | 122.45M | 122.46M | 122.46M | 122.53M | 122.58M | 122.58M |
| EPS (Basic) | 0.20 | -4.19 | -1.24 | 0.22 | -0.04 | -1.96 |
| EPS (Diluted) | 0.20 | -4.19 | -1.24 | 0.22 | -0.04 | -1.96 |
| Free Cash Flow | 339.64M | 65.94M | -195.21M | -98.89M | -89.80M | 36.56M |
| Free Cash Flow Per Share | 2.77 | 0.54 | -1.59 | -0.81 | -0.73 | 0.30 |
| Dividend Per Share | 0.72 | 0.68 | 0.63 | 0.60 | 0.60 | 0.60 |
| Gross Margin | 35.08% | 35.37% | 28.78% | 27.23% | 22.87% | 21.01% |
| Operating Margin | 17.16% | 15.84% | 12.82% | 11.92% | 9.86% | 3.56% |
| Profit Margin | 1.34% | -31.49% | -9.12% | 1.57% | -0.17% | -11.28% |
| Free Cash Flow Margin | 18.53% | 4.04% | -11.75% | -5.75% | -3.22% | 1.72% |
| EBITDA | 556.70M | 490.26M | 419.64M | 404.24M | 571.22M | 385.44M |
| EBITDA Margin | 30.37% | 30.07% | 25.27% | 23.48% | 20.48% | 18.13% |
| D&A For EBITDA | 242.04M | 232.07M | 206.69M | 199.12M | 296.20M | 309.75M |
| EBIT | 314.66M | 258.19M | 212.96M | 205.13M | 275.01M | 75.70M |
| EBIT Margin | 17.16% | 15.84% | 12.82% | 11.92% | 9.86% | 3.56% |
| Effective Tax Rate | 0.48% | 2.57% | 0.96% | 2.40% | ||
| Revenue as Reported | 1.83B | 1.63B | 1.66B | 1.72B | 2.79B | 2.13B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 39.26M | 6.44M | 7.35M | 9.23M | 7.93M | 19.99M |
| Cash & Short-Term Investments | 39.26M | 6.44M | 7.35M | 9.23M | 7.93M | 19.99M |
| Receivables | 1.19B | 615.69M | 484.68M | 760.41M | 721.57M | 413.90M |
| Inventory | 38.59M | 55.37M | 37.78M | 135.23M | 78.14M | 77.96M |
| Restricted Cash | 4.97M | 18.80M | 18.64M | 5.00M | ||
| Other Current Assets | 24.45M | 9.97M | 381.92M | 40.38M | 26.77M | 25.64M |
| Total Current Assets | 1.30B | 687.47M | 911.73M | 964.05M | 853.05M | 542.48M |
| Property, Plant & Equipment | 3.46B | 3.52B | 3.61B | 5.31B | 4.77B | 4.60B |
| Long-Term Investments | 219.54M | 218.63M | 240.37M | 263.83M | 284.49M | 294.05M |
| Goodwill | 301.96M | 301.96M | 301.96M | 301.96M | 301.96M | 301.96M |
| Other Intangible Assets | 70.97M | 75.61M | 85.29M | 141.54M | 127.32M | 127.06M |
| Long-Term Accounts Receivable | 4.81M | |||||
| Long-Term Deferred Charges | 7.90M | 54.05M | 53.61M | 38.24M | 32.21M | 38.26M |
| Other Long-Term Assets | 46.36M | 1.84B | ||||
| Total Assets | 5.41B | 4.86B | 7.04B | 7.02B | 6.37B | 5.91B |
| Accounts Payable | 1.10B | 490.71M | 388.25M | 588.92M | 427.96M | 264.32M |
| Accrued Expenses | 134.46M | 152.22M | 181.89M | 293.96M | 229.79M | 173.74M |
| Current Portion of Long-Term Debt | 11.60M | |||||
| Current Portion of Leases | 5.48M | 4.90M | 29.87M | 17.98M | 19.97M | |
| Current Unearned Revenue | 43.94M | 26.98M | 41.62M | 11.46M | 2.09M | 2.62M |
| Other Current Liabilities | 24.60M | 24.30M | 242.11M | 31.64M | 31.29M | 36.30M |
| Total Current Liabilities | 1.40B | 699.69M | 858.75M | 967.45M | 709.11M | 496.94M |
| Long-Term Debt | 3.10B | 3.05B | 3.73B | 3.75B | 3.46B | 2.98B |
| Long-Term Leases | 62.35M | 70.49M | 214.95M | 113.84M | 121.85M | |
| Long-Term Unearned Revenue | 138.23M | 78.95M | 82.16M | 112.73M | 64.48M | 19.03M |
| Long-Term Deferred Tax Liabilities | 17.13M | 17.41M | 16.57M | 17.51M | 16.65M | 14.30M |
| Other Long-Term Liabilities | 301.23M | 247.41M | 766.06M | 242.52M | 222.29M | 210.83M |
| Total Liabilities | 4.96B | 4.15B | 5.52B | 5.31B | 4.59B | 3.84B |
| Common Stock | -336.84M | -314.35M | 279.89M | 519.70M | 567.28M | 641.31M |
| Comprehensive Income & Other | 9.49M | 8.04M | 6.11M | -5.61M | ||
| Total Common Equity | -336.84M | -314.35M | 289.38M | 527.74M | 573.39M | 635.71M |
| Minority Interest | 464.52M | 469.91M | 412.82M | 369.45M | 310.16M | 554.31M |
| Shareholders' Equity | 452.83M | 708.08M | 1.52B | 1.71B | 1.78B | 2.06B |
| Total Liabilities & Equity | 5.41B | 4.86B | 7.04B | 7.02B | 6.37B | 5.91B |
| Total Debt | 3.20B | 3.11B | 3.80B | 4.01B | 3.60B | 3.12B |
| Net Cash (Debt) | -3.16B | -3.11B | -3.80B | -4.00B | -3.59B | -3.10B |
| Net Cash Per Share | -25.84 | -25.38 | -31.00 | -32.64 | -29.27 | -25.30 |
| Filing Date Shares Outstanding | 122.21M | 122.46M | 122.46M | 122.46M | 122.58M | 122.58M |
| Total Common Shares Outstanding | 122.21M | 122.46M | 122.46M | 122.46M | 122.58M | 122.58M |
| Working Capital | -99.64M | -12.23M | 52.98M | -3.40M | 143.94M | 45.55M |
| Book Value Per Share | -2.76 | -2.57 | 2.36 | 4.31 | 4.68 | 5.19 |
| Tangible Book Value | -709.77M | -691.91M | -97.87M | 84.24M | 144.11M | 206.68M |
| Tangible Book Value Per Share | -5.81 | -5.65 | -0.80 | 0.69 | 1.18 | 1.69 |
| Land | 88.90M | 88.63M | 88.55M | 293.73M | 231.65M | 227.54M |
| Machinery | 1.11B | 1.11B | 1.10B | 1.07B | 1.06B | 1.06B |
| Construction In Progress | 24.53M | 13.63M | 408.51M | 731.20M | 712.97M | 350.14M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 78.73M | -440.40M | -63.95M | 117.72M | 75.46M | -165.07M |
| Depreciation & Amortization | 242.04M | 232.07M | 206.69M | 199.12M | 296.20M | 309.75M |
| Other Amortization | 14.04M | 12.91M | 14.64M | 12.89M | 9.27M | 13.72M |
| Loss (Gain) From Sale of Assets | -17.44M | -40.00M | ||||
| Asset Writedown & Restructuring Costs | 43.00M | |||||
| Loss (Gain) on Equity Investments | -519.00K | -484.00K | -1.23M | 1.36M | -818.00K | |
| Stock-Based Compensation | 12.38M | 15.25M | 5.23M | 25.38M | 17.81M | 8.78M |
| Other Operating Activities | 68.88M | 71.61M | 48.78M | 82.00M | 62.10M | 141.55M |
| Change in Accounts Receivable | -689.59M | -120.92M | 17.51M | 159.43M | -261.85M | -75.17M |
| Change in Inventory | 20.85M | -23.02M | 38.82M | -37.57M | 2.09M | 20.37M |
| Change in Accounts Payable | 680.82M | 104.66M | 434.00K | -135.29M | 152.14M | 44.12M |
| Change in Other Net Operating Assets | 33.33M | -49.91M | -25.70M | 17.60M | 19.81M | 40.72M |
| Operating Cash Flow | 443.52M | 252.83M | 391.93M | 521.13M | 334.39M | 337.95M |
| Capital Expenditures | -103.88M | -186.89M | -587.14M | -620.02M | -424.19M | -301.39M |
| Sale of Property, Plant & Equipment | 9.25M | 1.04M | 11.80M | 478.00K | 40.33M | 604.00K |
| Investment in Securities | 8.66M | 21.50M | 23.18M | 21.56M | 9.35M | 26.67M |
| Other Investing Activities | 996.64M | 4.33M | ||||
| Investing Cash Flow | -85.97M | 832.29M | -552.16M | -593.65M | -374.52M | -274.12M |
| Long-Term Debt Issued | 866.60M | 2.71B | 2.28B | 1.38B | 1.04B | |
| Long-Term Debt Repaid | -1.57B | -2.35B | -1.97B | -887.34M | -1.45B | |
| Net Debt Issued (Repaid) | 97.97M | -698.97M | 354.18M | 310.70M | 492.16M | -416.18M |
| Repurchase of Common Stock | -3.65M | -1.04M | ||||
| Preferred Dividends Paid | -59.93M | -71.57M | -87.58M | -93.93M | -74.74M | -74.74M |
| Common Dividends Paid | -84.50M | -80.83M | -75.32M | -73.53M | -73.55M | -73.55M |
| Dividends Paid | -144.44M | -152.40M | -162.89M | -167.46M | -148.28M | -148.28M |
| Other Financing Activities | -46.06M | 5.63M | -29.54M | 6.80M | -302.18M | 405.51M |
| Financing Cash Flow | -317.76M | -1.11B | 161.74M | 73.99M | 41.70M | -65.86M |
| Net Cash Flow | 39.78M | -23.11M | 1.51M | 1.47M | 1.57M | -2.03M |
| Free Cash Flow | 339.64M | 65.94M | -195.21M | -98.89M | -89.80M | 36.56M |
| Free Cash Flow Margin | 18.53% | 4.04% | -11.75% | -5.75% | -3.22% | 1.72% |
| Free Cash Flow Per Share | 2.77 | 0.54 | -1.59 | -0.81 | -0.73 | 0.30 |
| Levered Free Cash Flow | 192.72M | 132.96M | -412.84M | -266.20M | -178.84M | 78.00M |
| Unlevered Free Cash Flow | 346.73M | 285.51M | -263.81M | -142.17M | -46.76M | 210.36M |
| Cash Interest Paid | 266.20M | 282.40M | 293.90M | 251.30M | 236.90M | 202.00M |
| Cash Income Tax Paid | 800.00K | 800.00K | 1.20M | 900.00K | 1.00M | 700.00K |
| Change in Working Capital | 45.40M | -89.19M | 31.06M | 4.17M | -87.82M | 30.04M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.79B | 1.91B | 1.24B | 1.42B | 1.25B | 1.31B |
| Enterprise Value | 4.96B | 6.01B | 6.46B | 6.21B | 5.82B | 5.79B |
| Last Close Price | 14.67 | 14.87 | 9.19 | 10.03 | 8.37 | 8.28 |
| PE Ratio | 73.07 | 52.53 | ||||
| Forward PE | 13.68 | 34.18 | 11.13 | 14.18 | 43.26 | |
| PS Ratio | 0.98 | 1.17 | 0.74 | 0.82 | 0.45 | 0.62 |
| PB Ratio | 3.96 | 2.70 | 0.82 | 0.83 | 0.70 | 0.64 |
| P/TBV Ratio | 16.83 | 8.68 | 6.35 | |||
| P/FCF Ratio | 5.28 | 28.97 | 35.91 | |||
| P/OCF Ratio | 4.04 | 7.56 | 3.16 | 2.72 | 3.74 | 3.88 |
| PEG Ratio | 5.70 | 5.70 | 1.86 | 1.18 | 8.65 | |
| EV/Sales Ratio | 2.70 | 3.69 | 3.89 | 3.61 | 2.09 | 2.72 |
| EV/EBITDA Ratio | 8.91 | 12.26 | 15.40 | 15.36 | 10.20 | 15.01 |
| EV/EBIT Ratio | 15.75 | 23.28 | 30.34 | 30.26 | 21.18 | 76.45 |
| EV/FCF Ratio | 14.60 | 91.14 | 158.30 | |||
| Debt / Equity Ratio | 7.08 | 4.40 | 2.51 | 2.34 | 2.02 | 1.51 |
| Debt / EBITDA Ratio | 5.59 | 6.14 | 8.74 | 9.55 | 6.15 | 7.73 |
| Debt / FCF Ratio | 9.43 | 47.24 | 85.39 | |||
| Net Debt / Equity Ratio | 6.99 | 4.39 | 2.50 | 2.34 | 2.02 | 1.50 |
| Net Debt / EBITDA Ratio | 5.68 | 6.34 | 9.04 | 9.89 | 6.28 | 8.05 |
| Net Debt / FCF Ratio | 9.32 | 47.14 | -19.45 | -40.45 | -39.96 | 84.84 |
| Asset Turnover | 0.36 | 0.27 | 0.24 | 0.26 | 0.46 | 0.36 |
| Inventory Turnover | 24.60 | 22.63 | 13.67 | 11.74 | 27.56 | 18.88 |
| Quick Ratio | 0.88 | 0.89 | 0.57 | 0.80 | 1.03 | 0.87 |
| Current Ratio | 0.93 | 0.98 | 1.06 | 1.00 | 1.20 | 1.09 |
| Return on Equity (ROE) | 22.70% | 2.74% | -3.15% | 2.71% | 6.73% | -7.14% |
| Return on Assets (ROA) | 3.84% | 2.71% | 1.89% | 1.92% | 2.80% | 0.80% |
| Return on Invested Capital (ROIC) | 8.55% | 5.51% | 3.86% | 3.67% | 5.10% | 1.44% |
| Return on Capital Employed (ROCE) | 7.80% | 6.20% | 3.40% | 3.40% | 4.90% | 1.40% |
| Earnings Yield | 1.37% | -23.05% | -5.17% | 8.30% | 6.03% | -12.57% |
| FCF Yield | 18.94% | 3.45% | -15.77% | -6.97% | -7.17% | 2.79% |
| Dividend Yield | 5.45% | 4.33% | 6.23% | 5.18% | 5.88% | 5.60% |
| Payout Ratio | 398.46% | 142.25% | 196.51% | |||
| Buyback Yield / Dilution | 0.01% | 0.06% | 0.04% | |||
| Total Shareholder Return | 5.46% | 4.33% | 6.29% | 5.22% | 5.88% | 5.60% |