Energy Transfer LP (ET) P/E Ratio History
Historical price-to-earnings valuation from 2006 to 2025
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ET Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Energy Transfer LP (ET) trades at a price-to-earnings ratio of 14.7x, with a stock price of $19.87 and trailing twelve-month earnings per share of $1.34.
The current P/E is 37% above its 5-year average of 10.7x. Over the past five years, ET's P/E has ranged from a low of 4.3x to a high of 15.3x, placing the current valuation at the 95th percentile of its historical range.
Compared to the Energy sector median P/E of 16.9x, ET is roughly in line with its sector peers. The sector includes 174 companies with P/E ratios ranging from 3.2x to 190.3x.
Relative to the broader market, ET trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ET DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ET P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $81B | 14.1 | 1.53 | -1% | |
| $16B | 30.4 | - | -48% | |
| $17B | 13.8 | 0.67 | -25% | |
| $57B | 11.5Lowest | - | +14% | |
| $70B | 23.1 | 0.24Best | +17% | |
| $54B | 15.8 | 0.51 | +5% | |
| $90B | 34.5 | 0.52 | +18% | |
| $68B | 27.2 | - | -26% | |
| $118B | 16.8 | 1.00 | +38% | |
| $11B | 24.0 | - | +206%Best |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
ET Historical P/E Data (2006–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $16.49 | $1.35 | 12.2x | -54% |
| FY2025 Q3 | $17.16 | $1.24 | 13.8x | -48% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $18.13 | $1.29 | 14.1x | -47% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $18.59 | $1.32 | 14.1x | -47% |
| FY2024 Q4 | $19.59 | $1.28 | 15.3x | -42% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $16.05 | $1.36 | 11.8x | -55% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $16.22 | $1.19 | 13.6x | -48% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $15.73 | $1.09 | 14.4x | -45% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $13.80 | $1.09 | 12.7x | -52% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $14.03 | $1.06 | 13.2x | -50% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $12.70 | $1.20 | 10.6x | -60% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $12.47 | $1.34 | 9.3x | -65% |
Average P/E for displayed period: 26.5x
Full ET Stock Analysis
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Start ComparisonET — Frequently Asked Questions
Quick answers to the most common questions about buying ET stock.
Is ET stock overvalued or undervalued?
ET trades at 14.7x P/E, above its 5-year average of 10.7x. The 95th percentile ranking indicates a premium to historical valuation.
How does ET's valuation compare to peers?
Energy Transfer LP P/E of 14.7x compares to sector median of 16.9x. The discount suggests lower growth expectations or higher risk.
What is ET's PEG ratio?
ET PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2006-2025.