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Financials · NGL

NGL ENERGY PARTNERS LP (NGL) financials

For the twelve months ended Sep 30, 2026, NGL ENERGY PARTNERS LP reported $3.84B of revenue and -$206.02M of net income.

Revenue, TTM
$3.84B
Revenue growth, YoY
+18.0%
Net income, TTM
-$206.02M
Net margin
-5.4%
Free cash flow, TTM
$68.99M
Cash
$7.56M
Total debt
$3.35B
P/S
0.51
Market cap
$1.95B
Annual revenue$3.16B
FY2017FY2026
Annual net income-$142.29M
FY2017FY2026
Annual free cash flow$144.68M
FY2017FY2026

NGL revenue and earnings growth

NGL revenueQ2 2027$986.55M

Quarter YoY
+46.2%
QoQ
-0.3%
FY YoY
-9.0%
5Y CAGR
-9.6%
10Y CAGR
-12.3%

NGL revenue was $986.55M in fiscal Q2 2027 (ended Sep 30, 2026), up 46.2% from a year earlier and down 0.3% from the prior quarter. For the full fiscal 2026 it was $3.16B, down 9.0% from fiscal 2025. Compound annual growth was -9.6% over 5 years and -12.3% over 10 years. It rose in 3 of the last 10 fiscal years.

NGL net incomeQ2 2027-$44.25M

NGL net income was -$44.25M in fiscal Q2 2027 (ended Sep 30, 2026), compared with $29.28M a year earlier. For the full fiscal 2026 it was -$142.29M, compared with $39.37M in fiscal 2025.

NGL free cash flowQ2 2027-$23.37M

FY YoY
+180.1%
5Y CAGR
+4.3%

NGL free cash flow was -$23.37M in fiscal Q2 2027 (ended Sep 30, 2026), compared with $9.51M a year earlier. For the full fiscal 2026 it was $144.68M, up 180.1% from fiscal 2025. Compound annual growth was +4.3% over 5 years. It rose in 2 of the last 5 fiscal years.

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Income statement

Income statement
Line item
FY2026
Mar 31, 2026
FY2025
Mar 31, 2025
FY2024
Mar 31, 2024
FY2023
Mar 31, 2023
FY2022
Mar 31, 2022
FY2021
Mar 31, 2021
FY2020
Mar 31, 2020
FY2019
Mar 31, 2019
FY2018
Mar 31, 2018
FY2017
Mar 31, 2017
Revenue$3.16B$3.47B$4.15B$5.68B$7.95B$5.23B$7.58B$8.69B$6.95B$12.71B
Cost of revenue$2.18B$2.51B$3.19B$4.69B$7.14B$4.49B$6.60B$7.98B$6.26B$12.23B
Gross profit$974.00M$962.11M$967.87M$989.61M$808.60M$733.20M$979.62M$706.10M$690.39M$478.80M
Selling, general and admin$70.11M$55.59M$121.63M$71.48M$63.55M$70.47M$113.66M$107.41M$97.98M$105.81M
Operating income$94.73M$329.36M$161.91M$243.99M$83.04M-$390.75M-$3.33M$126.73M$187.34M$205.93M
Interest expense$257.49M$280.08M$269.80M$275.44M$271.64M$198.80M$181.18M$164.72M$199.15M$149.99M
Pre-tax income-$178.78M$60.10M-$156.27M$9.25M-$183.13M-$640.81M-$180.20M-$78.22M-$21.12M$96.73M
Income tax-$276.0K-$4.88M$1.46M$219.0K$971.0K-$3.39M$345.0K$1.23M$1.35M$1.93M
Net income-$142.29M$39.37M-$143.75M$51.39M-$184.76M-$639.82M-$397.01M$360.05M-$70.88M$137.04M

Balance sheet

Balance sheet
Line item
FY2026
Mar 31, 2026
FY2025
Mar 31, 2025
FY2024
Mar 31, 2024
FY2023
Mar 31, 2023
FY2022
Mar 31, 2022
FY2021
Mar 31, 2021
FY2020
Mar 31, 2020
FY2019
Mar 31, 2019
FY2018
Mar 31, 2018
FY2017
Mar 31, 2017
Cash and equivalents$8.51M$5.65M$38.91M$5.43M$3.82M$4.83M$22.70M$18.57M$22.09M$7.83M
Short-term investments-$7.90M--------
Receivables---$1.03B$1.12B$725.94M$566.83M$998.20M$1.03B$800.61M
Inventory$67.35M$69.92M$106.60M$142.61M$251.28M$158.47M$69.63M$136.13M$551.30M$561.43M
Current assets$773.95M$962.05M$1.18B$1.29B$1.55B$1.01B$774.09M$1.81B$2.25B$1.48B
Goodwill$351.51M$599.35M$617.23M$712.36M$744.44M$744.44M$993.59M$1.11B$1.17B$1.32B
Total assets$4.18B$4.61B$5.02B$5.46B$6.07B$5.95B$6.50B$5.90B$6.15B$6.32B
Current liabilities$739.48M$739.23M$977.35M$1.11B$1.28B$910.80M$845.82M$1.25B$1.13B$938.60M
Short-term debt$11.46M$8.80M$7.00M$0$2.38M$2.18M----
Long-term debt$3.22B$2.96B$2.84B$2.86B$3.35B$3.32B$3.14B$2.16B$2.68B$2.96B
Total debt$3.23B$2.97B$2.85B$2.86B$3.35B$3.32B$3.14B$2.16B$2.68B$2.96B

Cash flow

Cash flow
Line item
FY2026
Mar 31, 2026
FY2025
Mar 31, 2025
FY2024
Mar 31, 2024
FY2023
Mar 31, 2023
FY2022
Mar 31, 2022
FY2021
Mar 31, 2021
FY2020
Mar 31, 2020
FY2019
Mar 31, 2019
FY2018
Mar 31, 2018
FY2017
Mar 31, 2017
Operating cash flow$365.95M$297.46M$376.16M$445.19M$205.85M$303.99M$464.06M$337.25M$137.97M-$25.04M
Capital expenditures$221.28M$245.82M$152.29M$147.76M$142.36M$186.80M$555.71M$455.59M$133.76M$344.94M
Free cash flow$144.68M$51.65M$223.87M$297.42M$63.49M$117.19M-$91.66M-$118.34M$4.21M-$369.97M
Investing cash flow-$16.48M-$122.81M-$83.76M$64.19M-$212.41M-$221.49M-$1.44B$453.47M$270.58M-$363.13M
Financing cash flow-$346.61M-$207.91M-$258.93M-$507.76M$5.55M-$100.38M$978.83M-$794.25M-$394.28M$371.45M
Share repurchases$47.65M$2.13M$84.0K$99.0K------
Stock-based compensation$11.21M$0$1.10M$2.72M-$1.05M$6.73M$26.51M$41.37M$35.24M$53.10M
Depreciation and amortization$268.73M$267.25M$282.06M$290.11M$306.21M$331.20M$276.85M$221.67M$219.98M$194.83M

Key ratios

Key ratios
Line item
FY2026
Mar 31, 2026
FY2025
Mar 31, 2025
FY2024
Mar 31, 2024
FY2023
Mar 31, 2023
FY2022
Mar 31, 2022
FY2021
Mar 31, 2021
FY2020
Mar 31, 2020
FY2019
Mar 31, 2019
FY2018
Mar 31, 2018
FY2017
Mar 31, 2017
Revenue growth, YoY-9.0%-16.5%-26.9%-28.5%52.1%-31.1%-12.7%25.0%-45.3%8.2%
Gross margin30.9%27.7%23.3%17.4%10.2%14.0%12.9%8.1%9.9%3.8%
Operating margin3.0%9.5%3.9%4.3%1.0%-7.5%-0.0%1.5%2.7%1.6%
Net margin-4.5%1.1%-3.5%0.9%-2.3%-12.2%-5.2%4.1%-1.0%1.1%
Free cash flow margin4.6%1.5%5.4%5.2%0.8%2.2%-1.2%-1.4%0.1%-2.9%
Return on assets-3.4%0.9%-2.9%0.9%-3.0%-10.8%-6.1%6.1%-1.2%2.2%
Current ratio1.051.301.211.161.211.110.921.451.991.58

Source: XBRL data NGL ENERGY PARTNERS LP files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NGL peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
NGL$3.84B+18.0%-$206.02M-5.4%$1.95B
WMB$15.43B+10.1%$3.07B19.9%$168.77B
ENBC$89.93B+40.0%C$6.73B7.5%$103.53B
NGG£17.69B-3.8%£3.24B18.3%$88.47B
EPD$64.40B+21.5%$6.59B10.2%$79.15B
KMI$18.34B+11.7%$3.60B19.6%$68.09B
TRPC$15.24B+10.7%C$3.52B23.1%$62.83B
TRGP$18.19B+4.7%$2.45B13.5%$58.71B
MPLX$13.21B+3.1%$4.34B32.9%$57.54B

NGL FAQ

8 questions
  • What is NGL revenue?
    NGL ENERGY PARTNERS LP (NGL) reported $3.84B of revenue for the twelve months ended Sep 30, 2026. That is up 18.0% from the year before. Revenue for fiscal 2026 was $3.16B.
  • Is NGL profitable?
    No. NGL ENERGY PARTNERS LP reported a net loss of $206.02M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does NGL have?
    NGL ENERGY PARTNERS LP reported $7.56M in cash and cash equivalents and $3.35B of debt on its most recent balance sheet in SEC filings.
  • How fast is NGL revenue growing?
    NGL ENERGY PARTNERS LP's revenue changed -9.0% in fiscal 2026, to $3.16B. Its compound annual growth rate was -9.6% over 5 years and -12.3% over 10 years.
  • What is NGL gross margin?
    NGL ENERGY PARTNERS LP's gross profit was $1.05B on $3.84B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 27.2%.
  • What is NGL free cash flow?
    NGL ENERGY PARTNERS LP generated $68.99M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $463.92M less capital expenditures.
  • When did NGL last report financial results?
    The latest statements here come from NGL ENERGY PARTNERS LP's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this NGL financial data come from?
    Quantisnow builds these statements from the structured XBRL data NGL ENERGY PARTNERS LP files with the SEC. It is provided for information only and is not investment advice.