NYSE : NGL
NGL Energy Partners LP — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 16.65 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.08B
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Financial statements
NGL Energy Partners LP (NGL) reported revenue of 3.52B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 3.52B | 3.16B | 3.47B | 4.15B | 5.68B | 7.95B |
| Revenue | 3.52B | 3.16B | 3.47B | 4.15B | 5.68B | 7.95B |
| Cost of Revenue | 2.48B | 2.18B | 2.51B | 3.19B | 4.69B | 7.14B |
| Gross Profit | 1.04B | 974.00M | 962.11M | 967.87M | 989.61M | 808.60M |
| Selling, General & Admin | 375.64M | 363.69M | 353.28M | 421.23M | 376.07M | 349.08M |
| Operating Expenses | 625.78M | 618.53M | 608.01M | 687.34M | 649.18M | 637.80M |
| Operating Income | 414.45M | 355.47M | 354.10M | 280.53M | 340.43M | 170.80M |
| Interest Expense | -259.01M | -257.49M | -280.08M | -269.80M | -275.44M | -271.64M |
| Earnings From Equity Investments | 201.00K | 6.57M | 4.12M | 4.12M | 1.40M | |
| Other Non Operating Income (Expenses) | 5.54M | 526.00K | 4.26M | 2.78M | 30.41M | 2.25M |
| EBT Excluding Unusual Items | 160.98M | 98.71M | 84.85M | 17.63M | 99.52M | -97.18M |
| Impairment of Goodwill | -247.80M | -247.80M | -17.90M | -69.20M | ||
| Gain (Loss) on Sale of Investments | -8.00M | |||||
| Gain (Loss) on Sale of Assets | 2.58M | 16.60M | 5.80M | -10.70M | -33.10M | -62.10M |
| Asset Writedown | -23.72M | -27.32M | -14.45M | -39.94M | -54.98M | -29.95M |
| Legal Settlements | -3.40M | |||||
| Other Unusual Items | -22.66M | -21.16M | 6.71M | -57.96M | -4.29M | 6.11M |
| Pretax Income | -129.12M | -178.78M | 60.10M | -156.27M | 9.25M | -183.13M |
| Income Tax Expense | -393.00K | -276.00K | -4.88M | 1.46M | 219.00K | 971.00K |
| Earnings From Continuing Operations | -128.72M | -178.50M | 64.99M | -157.73M | 9.04M | -184.10M |
| Earnings From Discontinued Operations | -4.00K | 39.34M | -21.83M | 14.60M | 43.46M | |
| Net Income to Company | -128.73M | -139.16M | 43.16M | -143.12M | 52.49M | -184.10M |
| Minority Interest in Earnings | -3.76M | -3.13M | -3.79M | -631.00K | -1.11M | -655.00K |
| Net Income | -132.49M | -142.29M | 39.37M | -143.75M | 51.39M | -184.76M |
| Preferred Dividends & Other Adjustments | 218.52M | 263.26M | 118.27M | 139.36M | 124.62M | 103.87M |
| Net Income to Common | -351.01M | -405.56M | -78.90M | -283.12M | -73.23M | -288.63M |
| Shares Outstanding (Basic) | 125.28M | 127.02M | 132.20M | 132.15M | 131.01M | 129.84M |
| Shares Outstanding (Diluted) | 125.28M | 127.02M | 132.20M | 132.15M | 131.01M | 129.84M |
| EPS (Basic) | -2.80 | -3.19 | -0.60 | -2.14 | -0.56 | -2.22 |
| EPS (Diluted) | -2.80 | -3.19 | -0.60 | -2.14 | -0.56 | -2.22 |
| Free Cash Flow | 101.88M | 144.68M | 51.65M | 223.87M | 297.42M | 63.49M |
| Free Cash Flow Per Share | 0.81 | 1.14 | 0.39 | 1.69 | 2.27 | 0.49 |
| Gross Margin | 29.52% | 30.86% | 27.73% | 23.30% | 17.43% | 10.17% |
| Operating Margin | 11.76% | 11.26% | 10.21% | 6.75% | 5.99% | 2.15% |
| Profit Margin | -9.96% | -12.85% | -2.27% | -6.82% | -1.29% | -3.63% |
| Free Cash Flow Margin | 2.89% | 4.58% | 1.49% | 5.39% | 5.24% | 0.80% |
| EBITDA | 667.51M | 611.62M | 609.33M | 546.89M | 613.79M | 460.05M |
| EBITDA Margin | 18.94% | 19.38% | 17.56% | 13.17% | 10.81% | 5.79% |
| D&A For EBITDA | 253.06M | 256.15M | 255.24M | 266.36M | 273.37M | 289.25M |
| EBIT | 414.45M | 355.47M | 354.10M | 280.53M | 340.43M | 170.80M |
| EBIT Margin | 11.76% | 11.26% | 10.21% | 6.75% | 5.99% | 2.15% |
| Effective Tax Rate | 2.37% | |||||
| Revenue as Reported | 3.52B | 3.16B | 3.47B | 4.15B | 5.68B | 7.95B |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 5.07M | 8.51M | 5.65M | 38.91M | 5.43M | 3.82M |
| Cash & Short-Term Investments | 5.07M | 8.51M | 5.65M | 38.91M | 5.43M | 3.82M |
| Accounts Receivable | 638.73M | 661.47M | 580.20M | 718.52M | 1.05B | 1.13B |
| Other Receivables | 4.30M | 4.30M | 4.30M | |||
| Receivables | 638.73M | 664.77M | 583.20M | 725.52M | 1.05B | 1.14B |
| Inventory | 67.67M | 67.35M | 69.92M | 106.60M | 142.61M | 251.28M |
| Prepaid Expenses | 25.32M | 27.52M | 59.10M | 62.74M | 59.91M | 76.01M |
| Other Current Assets | 806.20K | 5.81M | 244.19M | 246.88M | 33.88M | 78.58M |
| Total Current Assets | 737.60M | 773.95M | 962.05M | 1.18B | 1.29B | 1.55B |
| Property, Plant & Equipment | 2.27B | 2.21B | 2.18B | 2.19B | 2.31B | 2.58B |
| Long-Term Investments | 20.30M | 21.09M | 21.90M | |||
| Goodwill | 351.51M | 351.51M | 599.35M | 617.23M | 712.36M | 744.44M |
| Other Intangible Assets | 781.77M | 791.47M | 834.25M | 914.85M | 1.04B | 1.12B |
| Long-Term Deferred Charges | 34.30M | 13.64M | 17.09M | 17.87M | 15.67M | 17.15M |
| Other Long-Term Assets | 8.86M | 39.90M | 16.89M | 73.54M | 49.38M | 42.66M |
| Total Assets | 4.18B | 4.18B | 4.61B | 5.02B | 5.46B | 6.07B |
| Accounts Payable | 450.46M | 495.18M | 462.08M | 638.80M | 927.66M | 1.08B |
| Accrued Expenses | 62.87M | 135.01M | 113.33M | 104.59M | 88.15M | 84.97M |
| Current Portion of Long-Term Debt | 11.50M | 11.46M | 8.80M | 7.00M | 2.38M | |
| Current Portion of Leases | 39.60M | 36.16M | 27.91M | 29.39M | 34.17M | 41.26M |
| Current Unearned Revenue | 18.39M | 15.20M | 10.35M | 17.31M | 14.70M | 7.93M |
| Other Current Liabilities | 61.89M | 46.47M | 116.75M | 180.26M | 45.46M | 55.75M |
| Total Current Liabilities | 644.72M | 739.48M | 739.23M | 977.35M | 1.11B | 1.28B |
| Long-Term Debt | 3.26B | 3.22B | 2.96B | 2.84B | 2.86B | 3.35B |
| Long-Term Leases | 86.53M | 86.67M | 85.24M | 70.57M | 58.45M | 72.78M |
| Long-Term Deferred Tax Liabilities | 28.10M | 28.50M | 29.90M | 38.00M | 40.70M | 43.50M |
| Other Long-Term Liabilities | 102.67M | 103.94M | 96.00M | 91.19M | 70.53M | 60.85M |
| Total Liabilities | 4.13B | 4.18B | 3.91B | 4.02B | 4.14B | 4.80B |
| Common Stock | -552.22M | -612.28M | -170.28M | 134.81M | 455.56M | 401.49M |
| Comprehensive Income & Other | 9.00K | -499.00K | -450.00K | -308.00K | ||
| Total Common Equity | -552.22M | -612.28M | -170.27M | 134.31M | 455.11M | 401.18M |
| Minority Interest | -32.07M | -32.09M | -31.82M | -34.60M | -36.04M | -35.08M |
| Shareholders' Equity | 53.89M | -6.18M | 697.37M | 999.17M | 1.32B | 1.27B |
| Total Liabilities & Equity | 4.18B | 4.18B | 4.61B | 5.02B | 5.46B | 6.07B |
| Total Debt | 3.40B | 3.36B | 3.08B | 2.95B | 2.95B | 3.47B |
| Net Cash (Debt) | -3.40B | -3.35B | -3.08B | -2.91B | -2.94B | -3.46B |
| Net Cash Per Share | -27.11 | -26.37 | -23.28 | -22.04 | -22.48 | -26.67 |
| Filing Date Shares Outstanding | 124.81M | 124.81M | 132.01M | 132.51M | 131.93M | 130.70M |
| Total Common Shares Outstanding | 124.81M | 123.81M | 132.01M | 132.51M | 131.93M | 130.70M |
| Working Capital | 92.89M | 34.47M | 222.82M | 203.31M | 182.31M | 269.14M |
| Book Value Per Share | -4.42 | -4.95 | -1.29 | 1.01 | 3.45 | 3.07 |
| Tangible Book Value | -1.69B | -1.76B | -1.60B | -1.40B | -1.30B | -1.46B |
| Tangible Book Value Per Share | -13.50 | -14.18 | -12.15 | -10.55 | -9.86 | -11.18 |
| Land | 64.61M | 64.61M | 64.73M | 70.27M | 89.47M | 100.04M |
| Buildings | 125.98M | 124.78M | 124.39M | 122.88M | 130.12M | 151.07M |
| Machinery | 56.05M | 55.50M | 64.95M | 125.37M | 128.52M | 280.57M |
| Construction In Progress | 111.36M | 42.56M | 30.35M | 43.01M | 33.67M | 55.69M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -132.49M | -142.29M | 39.37M | -143.75M | 51.39M | -184.76M |
| Depreciation & Amortization | 253.06M | 256.15M | 255.24M | 266.36M | 273.37M | 289.25M |
| Other Amortization | 12.62M | 12.58M | 12.01M | 15.70M | 16.74M | 16.96M |
| Loss (Gain) From Sale of Assets | 267.44M | 256.32M | 31.45M | 115.94M | 86.78M | 55.80M |
| Asset Writedown & Restructuring Costs | 38.45M | |||||
| Loss (Gain) on Equity Investments | -93.00K | 137.00K | 1.07M | 507.00K | 805.00K | |
| Stock-Based Compensation | 13.20M | 11.21M | 1.10M | 2.72M | -1.05M | |
| Provision & Write-off of Bad Debts | 518.00K | 503.00K | 2.50M | 466.00K | -623.00K | 929.00K |
| Other Operating Activities | 64.37M | 27.25M | 25.65M | 59.58M | -54.81M | 125.97M |
| Change in Accounts Receivable | -175.03M | -80.02M | 114.42M | 221.69M | 82.75M | -397.61M |
| Change in Inventory | -569.00K | -6.68M | 9.94M | 13.63M | 91.22M | -119.81M |
| Change in Accounts Payable | 135.57M | 30.58M | -145.99M | -233.70M | -153.31M | 405.42M |
| Change in Other Net Operating Assets | -28.63M | -15.18M | -87.86M | 43.75M | -41.03M | -24.52M |
| Operating Cash Flow | 409.79M | 365.95M | 297.46M | 376.16M | 445.19M | 205.85M |
| Capital Expenditures | -307.91M | -221.28M | -245.82M | -152.29M | -147.76M | -142.36M |
| Sale of Property, Plant & Equipment | 24.02M | 72.67M | 42.82M | 53.25M | 45.85M | 18.50M |
| Divestitures | 1.40M | 88.64M | 72.25M | 16.00M | 111.63M | 63.49M |
| Investment in Securities | 1.90M | 310.00K | -88.00K | 17.00K | ||
| Other Investing Activities | -28.74M | 43.48M | 6.05M | -1.02M | 54.56M | -152.06M |
| Investing Cash Flow | -311.23M | -16.48M | -122.81M | -83.76M | 64.19M | -212.41M |
| Long-Term Debt Issued | 2.03B | 2.02B | 4.55B | 2.01B | 1.81B | |
| Long-Term Debt Repaid | -1.77B | -1.91B | -4.57B | -2.51B | -1.79B | |
| Net Debt Issued (Repaid) | 387.52M | 257.61M | 113.63M | -24.21M | -500.59M | 21.44M |
| Repurchase of Common Stock | -362.07M | -470.15M | -2.13M | -84.00K | -99.00K | -90.00K |
| Preferred Dividends Paid | -100.70M | -113.49M | -305.29M | -178.30M | ||
| Dividends Paid | -100.70M | -113.49M | -305.29M | -178.30M | ||
| Other Financing Activities | -23.68M | -20.59M | -14.13M | -56.33M | -7.08M | -15.80M |
| Financing Cash Flow | -98.93M | -346.61M | -207.91M | -258.93M | -507.76M | 5.55M |
| Net Cash Flow | -370.00K | 2.86M | -33.26M | 33.48M | 1.61M | -1.01M |
| Free Cash Flow | 101.88M | 144.68M | 51.65M | 223.87M | 297.42M | 63.49M |
| Free Cash Flow Margin | 2.89% | 4.58% | 1.49% | 5.39% | 5.24% | 0.80% |
| Free Cash Flow Per Share | 0.81 | 1.14 | 0.39 | 1.69 | 2.27 | 0.49 |
| Levered Free Cash Flow | 80.33M | 300.20M | 14.59M | 147.83M | 283.59M | -67.72M |
| Unlevered Free Cash Flow | 229.59M | 448.55M | 177.63M | 300.75M | 439.00M | 85.09M |
| Cash Interest Paid | 246.45M | 244.21M | 298.98M | 247.28M | 265.41M | 254.81M |
| Cash Income Tax Paid | 3.35M | 2.48M | ||||
| Change in Working Capital | -68.66M | -71.30M | -109.49M | 45.37M | -20.37M | -136.52M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.05B | 1.53B | 599.34M | 763.27M | 380.83M | 288.56M |
| Enterprise Value | 5.45B | 5.37B | 4.67B | 4.41B | 4.55B | 4.68B |
| Last Close Price | 16.42 | 12.33 | 4.54 | 5.76 | 2.90 | 2.22 |
| Forward PE | 13.03 | 16.22 | 23.89 | 22.15 | 4.50 | 4.31 |
| PS Ratio | 0.58 | 0.48 | 0.17 | 0.18 | 0.07 | 0.04 |
| PB Ratio | 38.03 | -246.95 | 0.86 | 0.76 | 0.29 | 0.23 |
| P/FCF Ratio | 20.12 | 10.55 | 11.61 | 3.41 | 1.28 | 4.54 |
| P/OCF Ratio | 5.00 | 4.17 | 2.02 | 2.03 | 0.85 | 1.40 |
| PEG Ratio | 6.12 | 6.12 | 7.38 | 0.38 | 0.36 | |
| EV/Sales Ratio | 1.55 | 1.70 | 1.34 | 1.06 | 0.80 | 0.59 |
| EV/EBITDA Ratio | 8.16 | 8.78 | 7.66 | 8.07 | 7.42 | 10.18 |
| EV/EBIT Ratio | 13.14 | 15.10 | 13.18 | 15.73 | 13.37 | 27.43 |
| EV/FCF Ratio | 53.46 | 37.10 | 90.34 | 19.71 | 15.30 | 73.78 |
| Debt / Equity Ratio | 63.12 | -543.09 | 4.42 | 2.95 | 2.24 | 2.74 |
| Debt / EBITDA Ratio | 4.53 | 4.85 | 4.50 | 4.78 | 4.28 | 6.42 |
| Debt / FCF Ratio | 33.39 | 23.21 | 59.71 | 13.18 | 9.92 | 54.61 |
| Net Debt / Equity Ratio | 63.03 | -541.72 | 4.41 | 2.91 | 2.23 | 2.74 |
| Net Debt / EBITDA Ratio | 5.09 | 5.48 | 5.05 | 5.32 | 4.80 | 7.53 |
| Net Debt / FCF Ratio | 33.34 | 23.15 | 59.60 | 13.01 | 9.90 | 54.55 |
| Asset Turnover | 0.84 | 0.72 | 0.72 | 0.79 | 0.98 | 1.32 |
| Inventory Turnover | 33.30 | 31.79 | 28.41 | 25.57 | 23.81 | 34.85 |
| Quick Ratio | 1.00 | 0.91 | 0.79 | 0.78 | 0.95 | 0.89 |
| Current Ratio | 1.14 | 1.05 | 1.30 | 1.21 | 1.16 | 1.21 |
| Return on Equity (ROE) | -37.66% | -51.65% | 7.66% | -13.61% | 0.70% | -13.32% |
| Return on Assets (ROA) | 6.19% | 5.06% | 4.60% | 3.35% | 3.69% | 1.78% |
| Return on Invested Capital (ROIC) | 12.04% | 9.86% | 9.21% | 6.86% | 7.39% | 3.52% |
| Return on Capital Employed (ROCE) | 11.70% | 10.30% | 9.10% | 6.90% | 7.80% | 3.60% |
| Earnings Yield | -17.06% | -9.32% | 6.57% | -18.83% | 13.49% | -64.03% |
| FCF Yield | 4.97% | 9.48% | 8.62% | 29.33% | 78.10% | 22.00% |
| Payout Ratio | 775.48% | |||||
| Buyback Yield / Dilution | 5.10% | 3.92% | -0.04% | -0.87% | -0.90% | -0.67% |
| Total Shareholder Return | 5.10% | 3.92% | -0.04% | -0.87% | -0.90% | -0.67% |