Enterprise Products Partners LP (EPD) financial statements
Enterprise Products Partners LP reported revenue of $52.6B in fiscal 2025, up 9.6% a year over 9 years.
Net income was $5.8B and the operating margin 13.8%, against 15.6% in 2016.
Free cash flow was $3.0B, and the company returned $300M in net buybacks.
The diluted share count rose 5% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Enterprise Products Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.0B | $29.2B | $36.5B | $32.8B | $27.2B | $40.8B | $58.2B | $49.7B | $56.2B | $52.6B |
| Cost of revenue | $15.7B | $21.5B | $26.8B | $22.1B | $16.7B | $29.9B | $45.8B | $37.0B | $42.6B | $38.6B |
| Selling, general and admin | $160M | $181M | $208M | $212M | $220M | $209M | $241M | $231M | $244M | $251M |
| Operating income | $3.6B | $3.9B | $5.4B | $6.1B | $5.0B | $6.1B | $6.9B | $6.9B | $7.3B | $7.3B |
| Interest expense | $983M | $985M | $1.1B | $1.2B | $1.3B | $1.3B | $1.2B | $1.3B | $1.4B | $1.4B |
| Pre-tax income | $2.6B | $2.9B | $4.3B | $4.7B | $3.8B | $4.8B | $5.7B | $5.7B | $6.0B | $5.9B |
| Income tax | $23M | $26M | $60M | $46M | -$124M | $70M | $82M | $44M | $65M | $23M |
| Net income | $2.5B | $2.8B | $4.2B | $4.6B | $3.8B | $4.6B | $5.5B | $5.5B | $5.9B | $5.8B |
| Diluted shares | 2.09B | 2.15B | 2.19B | 2.20B | 2.20B | 2.20B | 2.20B | 2.19B | 2.19B | 2.19B |
| Operating margin | 15.6% | 13.4% | 14.8% | 18.5% | 18.5% | 15.0% | 11.9% | 13.9% | 13.1% | 13.8% |
| Net margin | 10.9% | 9.6% | 11.4% | 14.0% | 13.9% | 11.4% | 9.4% | 11.1% | 10.5% | 11.0% |
Balance sheet
Fiscal years, from Enterprise Products Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $63M | $5M | $345M | $335M | $1.1B | $2.8B | $76M | $180M | $583M | $969M |
| Receivables | $3.3B | $4.4B | $3.7B | $4.9B | $4.8B | $7.0B | $7.0B | — | — | — |
| Inventory | $1.8B | $1.6B | $1.5B | $2.1B | $3.3B | $2.7B | $2.6B | $3.4B | $4.0B | $3.9B |
| Total current assets | $6.5B | $6.5B | $6.1B | $7.9B | $9.9B | $13.3B | $10.6B | $12.2B | $15.1B | $13.4B |
| Property, plant and equipment | $33.3B | $35.6B | $38.7B | $41.6B | $41.9B | $42.1B | $44.4B | $45.8B | $49.1B | $51.4B |
| Goodwill | $5.7B | $5.7B | $5.7B | $5.7B | $5.4B | $5.4B | $5.6B | $5.6B | $5.7B | $5.7B |
| Total assets | $52.2B | $54.4B | $57.0B | $61.7B | $64.1B | $67.5B | $68.1B | $71.0B | $77.2B | $77.9B |
| Total current liabilities | $8.3B | $9.3B | $7.2B | $9.1B | $9.0B | $11.6B | $12.3B | $13.1B | $15.2B | $12.8B |
| Long-term debt | $21.1B | $21.7B | $24.7B | $25.6B | $28.5B | $28.1B | $26.6B | $27.4B | $30.7B | $32.8B |
| Net debt | $23.6B | $24.6B | $25.8B | $27.3B | $28.8B | $26.7B | $28.2B | $28.6B | $31.3B | $33.4B |
Cash flow
Fiscal years, from Enterprise Products Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.1B | $4.7B | $6.1B | $6.5B | $5.9B | $8.5B | $8.0B | $7.6B | $8.1B | $8.6B |
| Capital spending | $3.0B | $3.1B | $4.2B | $4.5B | $3.3B | $2.2B | $2.0B | $3.3B | $4.5B | $5.6B |
| Free cash flow | $1.1B | $1.6B | $1.9B | $2.0B | $2.6B | $6.3B | $6.1B | $4.3B | $3.6B | $3.0B |
| Stock-based compensation | $89M | $100M | $106M | $144M | $159M | $152M | $157M | $172M | $188M | $197M |
| Share buybacks (net) | $0 | $0 | -$31M | -$81M | -$186M | -$214M | -$250M | -$188M | -$219M | -$300M |
| Net borrowing | $1.1B | $856M | $1.6B | $1.5B | $2.3B | -$333M | -$1.3B | $452M | $3.2B | $2.5B |
| Free cash flow margin | 4.7% | 5.4% | 5.2% | 6.1% | 9.6% | 15.4% | 10.4% | 8.7% | 6.4% | 5.6% |
Questions
What was Enterprise Products Partners LP's revenue in 2025?
$52.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Enterprise Products Partners LP generate?
$3.0B in fiscal 2025 (operating cash flow minus capital spending).
From Enterprise Products Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.