NGL Energy Partners LP (NGL) Financial Ratios
17 years of historical data (2009–2025) · Energy · Oil & Gas Midstream
EV/EBITDA
↓
8.57
+13% vs avg
5yr avg: 7.58
30Y Low6.2·High28.1
P/FCF
↑
39.34
↑+472% vs avg
5yr avg: 6.88
30Y Low1.3·High18.6
P/B Ratio
↑
3.11
↑+572% vs avg
5yr avg: 0.46
30Y Low0.1·High29.5
ROE
↑
4.6%
↓+145% vs avg
5yr avg: -10.2%
30Y Low-34%·High18%
Debt/EBITDA
↓
5.17
↓-21% vs avg
5yr avg: 6.57
30Y Low0.7·High22.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NGL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
NGL Energy Partners LP currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 39.3x P/FCF, 472% above the 5-year average of 6.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $599M | $761M | $380M | $288M | $263M | $331M | $1.7B | $1.3B | $2.5B | $788M |
| Enterprise Value | $5.1B | $3.7B | $3.7B | $3.3B | $3.8B | $3.7B | $3.6B | $3.9B | $4.0B | $5.5B | $3.7B |
| P/E Ratio → | -27.35 | — | — | — | — | — | — | 4.79 | — | 23.79 | — |
| P/S Ratio | 0.59 | 0.17 | 0.18 | 0.07 | 0.04 | 0.05 | 0.04 | 0.20 | 0.08 | 0.19 | 0.07 |
| P/B Ratio | 3.11 | 0.86 | 0.76 | 0.29 | 0.23 | 0.18 | 0.15 | 29.51 | 16.29 | 1.15 | 0.45 |
| P/FCF | 39.34 | 11.60 | 14.74 | 1.28 | 4.54 | 2.25 | — | — | 316.43 | — | — |
| P/OCF | 6.83 | 2.01 | 2.56 | 0.85 | 1.40 | 0.87 | 0.71 | 5.12 | 9.65 | — | 2.24 |
P/E links to full P/E history page with 30-year chart
NGL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
NGL Energy Partners LP's enterprise value stands at 8.6x EBITDA, 13% above its 5-year average of 7.6x. The Energy sector median is 8.0x, placing the stock at a 6% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.06 | 0.89 | 0.59 | 0.47 | 0.71 | 0.48 | 0.45 | 0.24 | 0.42 | 0.31 |
| EV / EBITDA | 8.57 | 6.16 | 8.31 | 6.23 | 9.64 | — | 13.29 | 11.40 | 20.15 | 11.36 | 28.09 |
| EV / EBIT | 15.52 | 11.22 | 37.50 | 12.41 | 52.43 | 41.02 | — | 44.72 | — | 18.59 | — |
| EV / FCF | — | 71.21 | 71.40 | 11.18 | 59.09 | 31.83 | — | — | 948.45 | — | — |
NGL Profitability
Margins and return-on-capital ratios measuring operating efficiency
NGL Energy Partners LP earns an operating margin of 9.5%, below the Energy sector average of 14.4%. Operating margins have expanded from 4.3% to 9.5% over the past 3 years, signaling improving operational efficiency. ROE of 4.6% is modest, trailing the sector median of 8.5%. ROIC of 6.4% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.4% | 20.4% | 16.9% | 12.6% | 6.5% | 14.0% | 9.4% | 5.7% | 1.7% | 3.7% | 5.7% |
| Operating Margin | 9.5% | 9.5% | 3.9% | 4.3% | 1.0% | -7.5% | -0.0% | 1.5% | -0.1% | 2.0% | -0.9% |
| Net Profit Margin | 1.1% | 1.1% | -3.5% | 0.9% | -2.3% | -12.2% | -5.2% | 4.1% | -0.4% | 1.1% | -1.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.6% | 4.6% | -12.4% | 4.0% | -13.4% | -33.9% | -34.1% | 513.7% | -6.2% | 7.0% | -8.2% |
| ROA | 0.8% | 0.8% | -2.7% | 0.9% | -3.1% | -10.3% | -6.4% | 6.0% | -1.1% | 2.3% | -3.3% |
| ROIC | 6.4% | 6.4% | 3.0% | 4.1% | 1.3% | -5.6% | -0.1% | 3.8% | -0.3% | 3.9% | -1.5% |
| ROCE | 8.3% | 8.3% | 3.9% | 5.3% | 1.7% | -7.3% | -0.1% | 2.6% | -0.3% | 5.0% | -2.0% |
NGL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
NGL Energy Partners LP carries a Debt/EBITDA ratio of 5.2x, which is highly leveraged (118% above the sector average of 2.4x). Net debt stands at $3.1B ($3.1B total debt minus $6M cash). Interest coverage of just 1.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.42 | 4.42 | 2.97 | 2.24 | 2.74 | 2.32 | 1.46 | 36.94 | 32.81 | 1.36 | 1.68 |
| Debt / EBITDA | 5.17 | 5.17 | 6.68 | 5.52 | 8.91 | — | 12.16 | 6.37 | 13.54 | 6.17 | 22.29 |
| Net Debt / Equity | — | 4.41 | 2.93 | 2.23 | 2.74 | 2.31 | 1.45 | 36.62 | 32.54 | 1.36 | 1.67 |
| Net Debt / EBITDA | 5.16 | 5.16 | 6.59 | 5.51 | 8.90 | — | 12.08 | 6.32 | 13.43 | 6.14 | 22.08 |
| Debt / FCF | — | 59.60 | 56.67 | 9.90 | 54.55 | 29.58 | — | — | 632.02 | — | — |
| Interest Coverage | 1.18 | 1.18 | 0.64 | 0.94 | 0.33 | -1.97 | -0.02 | 0.77 | -0.09 | 1.70 | -0.79 |
NGL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.30x means NGL Energy Partners LP can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.16x to 1.30x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.30 | 1.30 | 1.21 | 1.16 | 1.21 | 1.11 | 0.92 | 1.45 | 1.99 | 1.58 | 1.46 |
| Quick Ratio | 1.21 | 1.21 | 1.10 | 1.04 | 1.01 | 0.93 | 0.83 | 1.34 | 1.51 | 0.98 | 0.94 |
| Cash Ratio | 0.02 | 0.02 | 0.04 | 0.00 | 0.00 | 0.01 | 0.03 | 0.01 | 0.02 | 0.01 | 0.04 |
| Asset Turnover | — | 0.75 | 0.83 | 1.04 | 1.31 | 0.88 | 1.17 | 1.47 | 2.75 | 2.06 | 2.11 |
| Inventory Turnover | 39.50 | 39.50 | 32.38 | 34.80 | 29.56 | 28.36 | 98.65 | 60.20 | 30.15 | 22.34 | 30.09 |
| Days Sales Outstanding | — | 61.41 | 63.38 | 67.25 | 51.97 | 50.78 | 27.53 | 42.47 | 22.27 | 22.63 | 16.68 |
NGL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
NGL Energy Partners LP returns 14.2% to shareholders annually — split between a 14.1% dividend yield and 0.1% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 14.1% | 50.9% | 40.1% | — | — | 54.0% | 73.8% | 13.7% | 16.9% | 7.2% | 40.8% |
| Payout Ratio | — | — | — | — | — | — | — | 65.7% | — | 132.3% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 20.9% | — | 4.2% | — |
| FCF Yield | 2.5% | 8.6% | 6.8% | 78.3% | 22.0% | 44.5% | — | — | 0.3% | — | — |
| Buyback Yield | 0.1% | 0.4% | 0.3% | 0.0% | 0.0% | 0.1% | 80.5% | 0.0% | 1.2% | 0.0% | 2.2% |
| Total Shareholder Yield | 14.2% | 51.3% | 40.4% | 0.0% | 0.0% | 54.1% | 100.0% | 13.7% | 18.1% | 7.2% | 43.1% |
| Shares Outstanding | — | $132M | $132M | $131M | $130M | $129M | $127M | $123M | $121M | $112M | $105M |
Peer Comparison
Compare NGL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NGLYou | $2B | -27.4 | 8.6 | 39.3 | 20.4% | 9.5% | 4.6% | 6.4% | 5.2 |
 CAPL | $796M | 19.1 | 8.6 | 14.3 | — | — | — | 9.0% | 4.4 |
 GEL | $2B | -23.1 | 10.4 | 23.3 | 21.1% | 15.8% | -0.7% | 4.0% | 6.2 |
 MMLP | $95M | -6.6 | 6.4 | 6.8 | 12.4% | 6.5% | — | 8.0% | 5.4 |
 WES | $17B | 14.1 | 7.4 | 11.9 | 76.2% | 41.7% | 30.8% | 16.7% | 0.2 |
 HESM | $8B | 13.7 | 9.8 | 11.2 | 63.9% | 62.2% | 78.1% | 18.6% | 3.1 |
 USAC | $3B | 32.2 | 9.7 | 11.9 | 38.5% | 31.9% | — | 9.6% | 4.2 |
 ET | $70B | 15.1 | 9.5 | 18.2 | 21.8% | 11.4% | 10.2% | 6.3% | 4.9 |
 EPD | $83B | 14.5 | 12.3 | 28.1 | 13.6% | 13.1% | 19.3% | 8.3% | 3.7 |
 PAA | $16B | 30.9 | 10.7 | 8.5 | 3.4% | 2.4% | 5.8% | 4.2% | 3.6 |
 OXY | $59B | 36.9 | 7.1 | 14.3 | 33.8% | 17.2% | 6.7% | 4.7% | 2.1 |
| Energy Median | — | 17.1 | 8.0 | 13.8 | 33.2% | 14.4% | 8.5% | 6.3% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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Start ComparisonNGL — Frequently Asked Questions
Quick answers to the most common questions about buying NGL stock.
What is NGL Energy Partners LP's P/E ratio?
NGL Energy Partners LP's current P/E ratio is -27.4x. The historical average is 38.9x.
What is NGL Energy Partners LP's EV/EBITDA?
NGL Energy Partners LP's current EV/EBITDA is 8.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.5x.
What is NGL Energy Partners LP's ROE?
NGL Energy Partners LP's return on equity (ROE) is 4.6%. The historical average is -2.0%.
Is NGL stock overvalued?
Based on historical data, NGL Energy Partners LP is trading at a P/E of -27.4x. Compare with industry peers and growth rates for a complete picture.
What is NGL Energy Partners LP's dividend yield?
NGL Energy Partners LP's current dividend yield is 14.09%.
What are NGL Energy Partners LP's profit margins?
NGL Energy Partners LP has 20.4% gross margin and 9.5% operating margin.
How much debt does NGL Energy Partners LP have?
NGL Energy Partners LP's Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.