MARKETS / NYSE / Utilities / Natural gas / NGL

NYSE · NATURAL GAS TRANSMISSION · MID CAP

NGL Energy Partners LP NGL

15 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$3.2B

▼ 9.0% YoY

Net income

$-142.3M

▼ 461.4% YoY

Free cash flow

$144.7M

▲ 180.1% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

NGL Energy Partners LP transports, treats, recycles and disposes of produced and flowback water; purchases crude oil from producers and marketers and transports it to refineries or for resale; and conducts supply operations for natural gas liquids to commercial, retail and industrial customers across the United States and Canada. At March 31, 2026, it had 449 employees in 14 states and Canada. Its Water Solutions segment operates a system in the Northern Delaware Basin with approximately 840 miles of large diameter produced water pipelines connected to 59 active saltwater disposal facilities and 141 active disposal wells. Its Crude Oil Logistics segment includes the Grand Mesa Pipeline, a 550-mile pipeline that transports crude oil from its origin in Weld County, Colorado to its terminal in Cushing, Oklahoma. Its Liquids Logistics operations are conducted through five owned terminals, third-party storage and terminal facilities, access to nine common carrier pipelines and a fleet of leased railcars. NGL Energy Partners LP was originally formed in September 2010 as a Delaware master limited partnership.

Written from the business description in NGL Energy Partners LP's annual report to the U.S. Securities and Exchange Commission, filed 28 May 2026. Every sentence was checked against that document before publication.

Growth

USD 3.2B

Revenue, FY2025 · full 15-year series below

Revenue $B Net income $B

FY2025 · Revenue 3.2 · Net income -0.1

10B20B

201120142017202020232025

Compound annual growth

Revenue

−17.8%

−9.6%

−12.3%

Returned to shareholders

+683.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −9.6% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−4 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating 3.0% · Net -4.4%

5%-5%-10%

201120182025

ROE

Not available in our data for this period.

Three returns, three denominators.

Return on equityNot available in our data for this period.

Return on assets-3.2%

Return on capital employed2.6%

Gross margin30.9%

Operating margin3.0%

Net margin-4.4%

EBITDAUSD 363.5M

Return on equity has no reading this year — return on capital employed, just below, still does: 3%.

Cash & shareholders

USD 47.6M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 144.7

150M300M-150M-300M

201120182025

Net buybacks $M Dividends $M

FY2025 · Dividends · · Net buybacks 47.6

20M40M

2022202320242025

Dividends paid·

Net buybacksUSD 47.6M

Share of profit-33.5%

Consecutive raises·

USD 47.6M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 4.2B

CashUSD 8.5M

Gross debtUSD 3.2B

Net debtUSD 3.2B

Current ratio1.05×

Not available: we don't have the shareholders' equity figure for this period.

The 15-year record

15 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative—not applicable◌not available in our data

NGL, 15-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue $B	3.2	3.5	4.2	5.7	7.9	5.2	7.6	8.7	7.0	12.7	11.7	16.8	9.7	4.4	1.3
Operating income $B	0.1	0.3	0.2	0.2	0.1	−0.4	−0.0	0.1	0.2	0.2	−0.1	0.1	0.1	0.1	0.0
EBITDA $B	0.4	0.6	0.4	0.5	0.4	−0.1	0.3	0.3	0.4	0.4	0.1	0.3	0.2	0.2	0.0
Income tax $B	−0.0	−0.0	0.0	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	−0.0	−0.0	0.0	0.0	0.0
Net income $B	−0.1	0.0	−0.1	0.1	−0.2	−0.6	−0.4	0.4	−0.1	0.1	−0.2	0.0	0.0	◌	0.0
Free cash flow $B	0.1	0.1	0.2	0.3	0.1	0.1	−0.1	−0.1	0.0	−0.4	−0.3	0.0	−0.3	−0.2	−0.1
EPS, diluted $	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	0.32
Dividend / sh $	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
Payout % — not applicable: no dividend	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE % — not available in our data	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Other companies filing in the same sector

ET · EPD · OKE · DUK · NRG · SO

Provenance

Company facts, as filed

How we verify · 0 failures in 46 reconciliationsAUDITED

Reconciled in 15 of the 15 fiscal years we could check. Eight checks were skipped: the balance sheet is not tagged before 2011. Four checks were skipped: EPS is not tagged before 2011. Four checks were skipped: revenue is not tagged before 2011.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityNatural Gas Transmission

Listed onNYSE

Incorporated inDelaware

Fiscal year endsMarch 31

Data on record since2011