NGL Energy Partners LP (NGL) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
NGL Revenue Growth
Revenue Breakdown (FY 2025)
NGL's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
NGL Revenue Analysis (2014–2025)
As of May 6, 2026, NGL Energy Partners LP (NGL) generated trailing twelve-month (TTM) revenue of $3.03 billion, reflecting significant decline in growth of -41.3% year-over-year. The most recent quarter (Q3 2026) recorded $909.8 million in revenue, up 34.9% sequentially.
Looking at the longer-term picture, NGL's 5-year compound annual growth rate (CAGR) stands at -14.5%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $16.91 billion in 2018.
Revenue diversification analysis shows NGL's business is primarily driven by Liquids Logistics Segment (53%), Crude Oil Logistics Segment (25%), and Water Solutions Segment (22%). With over half of revenue concentrated in Liquids Logistics Segment, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including GEL (-29.3% YoY), MMLP (-1.1% YoY), and WES (+6.6% YoY), NGL has underperformed the peer group in terms of revenue growth. Compare NGL vs GEL →
NGL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NGLCurrent | $3.0B | -41.3% | -14.5% | 9.5% | |
 GEL | $1.6B | -29.3% | -2.2% | 15.8% | |
 MMLP | $716M | -1.1% | +1.3% | 6.5% | |
 WES | $3.8B | +6.6% | +6.7% | 41.7% | |
 HESM | $1.6B | +8.6% | +8.2% | 62.2% |
NGL Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.47B | -16.5% | $707.4M | 20.4% | $329.4M | 9.5% |
| 2024 | $4.15B | -26.9% | $701.8M | 16.9% | $161.9M | 3.9% |
| 2023 | $5.68B | -28.5% | $716.5M | 12.6% | $244.0M | 4.3% |
| 2022 | $7.95B | +52.1% | $519.9M | 6.5% | $83.0M | 1.0% |
| 2021 | $5.23B | -31.1% | $733.2M | 14.0% | $-390,753,000 | -7.5% |
| 2020 | $7.58B | -12.7% | $714.3M | 9.4% | $-3,332,000 | -0.0% |
| 2019 | $8.69B | -48.6% | $494.1M | 5.7% | $126.7M | 1.5% |
| 2018 | $16.91B | +29.8% | $285.6M | 1.7% | $-17,174,000 | -0.1% |
| 2017 | $13.02B | +10.9% | $477.1M | 3.7% | $255.1M | 2.0% |
| 2016 | $11.74B | -30.1% | $674.1M | 5.7% | $-104,603,000 | -0.9% |
See NGL's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs NGL Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare NGL vs XOM
Side-by-side business, growth, and profitability comparison vs Exxon Mobil Corporation.
Start ComparisonNGL — Frequently Asked Questions
Quick answers to the most common questions about buying NGL stock.
Is NGL's revenue growth accelerating or slowing?
NGL revenue declined -41.3% year-over-year, contrasting with the 5-year CAGR of -14.5%. TTM revenue fell to $3.0B. This reverses the prior growth trend.
What is NGL's long-term revenue growth rate?
NGL Energy Partners LP's 5-year revenue CAGR of -14.5% reflects the variable expansion pattern. Current YoY growth of -41.3% is below this long-term average.
How is NGL's revenue distributed by segment?
NGL reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.