EPD Enterprise Products Partners L.P. Common Stock
NYSE · Energy · View on SEC EDGAR ↗ close Oct 6, 2026 10-K/10-Q Aug 7, 2026
$37.26
· of 52w range
· above low
· to high
$30.0152w low
$40.1752w high
P/E
18.5
Revenue
$52.60B
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52W Range
$30–$40
Analyst Rating
HOLD
Price Target
$41
P/E
18.5
ROE
·
Net Profit Margin
10.8%
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EPD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$37.26
P/E
18.5
Revenue
$52.60B
52W Range
$30–$40
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Aug. 22, 2014 | 2-for-1 | Forward |
| May 16, 2002 | 2-for-1 | Forward |
About Enterprise Products Partners L.P. Common Stock Company overview from Wikipedia
Enterprise Products Partners L.P. (NYSE: EPD) is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. They acquired GulfTerra in September 2004. The company ranked No. 89 in the 2026 Fortune 500 list of the largest United States corporations by total revenue. Dan Duncan was the majority owner until his death in 2010, when his heirs, including his widow and children inherited his stake.
History
In 2005, Ralph S. Cunningham became CEO of Enterprise Products Partners.
On July 23, 2007, Cunningham replaced Michael A. Creel as president and CEO of the affiliated Enterprise GP Holdings LP (NYSE: EPE). Cunningham had earlier been named interim president and CEO, and resigned from the Enterprise Products CEO position effective July 31, 2007. Creel then became president and CEO of the company's general partner Enterprise Products Partners L.P.
Cunningham also became a director of both Enterprise GP Holdings and affiliated Duncan Energy Partners LP (NYSE: EPL).
Enterprise Products acquired Enterprise GP Holdings in 2010.
A. J. Teague was appointed CEO in 2016 and in 2020 W. Randall Fowler was appointed as joint CEO. A.J. Teague's retirement date is scheduled for January 4, 2027.
Incidents
On June 7, 2005, during replacement of an Enterprise Products pipeline pigging facility in Mirando City, Texas, HVL gases leaked past a stopple. The gases were ignited by a nearby air compressor, killing one of the repair crew.
On February 8, 2011, a series of explosions destroyed much of a Mont Belvieu facility owned and operated by Enterprise Products. The ensuing fire was controlled after two hours. One contractor at the plant was not accounted for, however no other injuries were reported.
On December 27, 2011, controllers for Enterprise Products received an alarm, for a leak on an LPG pipeline. The leak location was found in Loving County, Texas. Repair crew excavated the area, and found a full girth weld failure. During the pipeline repair, a flash fire involving residual pipeline product in the soil occurred the next day, injuring 3 employees, one of whom required in-patient hospitalization. The rupture was attributed to the complete circumferential separation of an acetylene girth weld dating to 1928, and the flash fire was attributed to operator error.
On January 26, 2015, a 20-inch Enterprise Products ATEX pipeline carrying ethane exploded and burned in Brooke County, West Virginia. Despite snow in the area, five acres of woodlands burned, and 1,283,000 gallons of ethane were consumed, or lost. The fireball melted siding on nearby homes and damaged power lines; it is believed that day's snowy weather lessened the damage. Reports suspect a girth weld failure from ductile tensile overload, with the pipeline being less than two years old. There were no injuries.
On December 1, 2015, personnel from Enterprise discovered a spill at their West Cushing Tank Farm, in Cushing, Oklahoma. Approximately 42,000 gallons of crude oil were released within the terminal. A tank line had failed from internal corrosion.
On November 29, 2016, an Enterprise Products pipeline exploded in Platte County, Missouri, burning about 210,000 gallons of an ethane propane mixture. There were no evacuations or injuries. The cause of the failure was stress corrosion cracking.
On January 30, 2017, a road crew punctured the Seaway S-1 crude oil pipeline in Texas, which is jointly joined by Enterprise Products Partners and the Canadian Enbridge Inc. through the joint venture Seaway Crude Pipeline Company. Two days later, it was unclear how much oil had spilled over the nearby Highway 121 northeast of Dallas. After the incident, supply concerns reportedly helped push "oil prices 2% higher in early trading to nearly $54 a barrel.
On December 6, 2017, an Enterprise Products pipeline exploded around 1:30 am near Loving, in southeast New Mexico. Eddy County officials asked residents within a 2-mile radius of the intersection of U.S. Highway 285 and State Road 31 to voluntarily evacuate.
On August 21, 2020, a dredging vessel hit a submerged Enterprise Products propane pipeline, in the harbor of Corpus Christi, Texas, causing an explosion and fire. Five of the crew were killed, and, six others were injured.
On December 5, 2024, private wells near Durango, Colorado were flooded with 12 feet of gasoline after 23,000 gallons leaked from a broken Enterprise Products pipeline. The spill is atop Florida Mesa, hundreds of feet above the Animas River. Detectors are now finding benzene seepage in intermittent springbeds running down the hillsides toward the river.
Assets
According to the company website and their regulatory fillings, it has the following assets:
Pipelines
51,000 miles (82,000 km) of pipelines, including:
NGL Pipelines & Services: 19,400 miles (31,200 km) of natural gas liquids pipelines
Onshore Natural Gas Pipelines & Services: 19,600 miles (31,500 km) of natural gas pipelines
Onshore Crude Oil Pipelines & Services: 4,600 miles (7,400 km) of onshore crude oil pipelines
Offshore Pipelines & Services: 2,300 miles (3,700 km) of Gulf of Mexico natural gas and crude oil pipelines
Propylene Pipelines: 985 miles (1,585 km) of propylene pipelines in Texas and Louisiana.
Storage (salt dome)
177 million barrels (28.1 million cubic metres) of NGL storage capacity
27×10^9 cu ft (760,000,000 m3) of natural gas storage capacity
Marine Terminals
NGL Import/Export Terminals on the Houston Ship Channel
Import: unload up to 8,100 Bbls/hr
Export: load up to 10,000 Bbls/hr
Fractionation
19 NGL and propylene fractionators
NGL: nine plants, with a net capacity of approximately 439 Mbpd
Propylene: two facilities, with a net capacity of approximately 87 Mbpd
Isomerization: three plants, with a net capacity of approximately 116 Mbpd
Natural gas processing
26 plants, with a net processing capacity of 6.3 Bcf/day
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorEnergy
industryEnergy
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$52.60B2016-12-31 → 2025-12-31
Free Cash Flow$2.96B2016-12-31 → 2025-12-31
Net margin10.8%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | EPD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 18.55Y avg ≈15.7 | ≈15.7 | 19.5 | Fair value |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | EPD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 13.4%5Y avg ≈13.5% | ≈13.5% | 34.4% | Weak | |
| EBITDA Margin | 13.8%5Y avg ≈13.5% | ≈13.5% | 42.8% | Weak | |
| Pretax Margin (TTM) | 10.9%5Y avg ≈11.0% | ≈11.0% | 26.0% | Weak | |
| Net Profit Margin (TTM) | 10.8%5Y avg ≈10.7% | ≈10.7% | 23.2% | Weak | |
| ROA | 7.5%5Y avg ≈7.7% | ≈7.7% | 7.8% | In line | |
| ROIC | 21.0%5Y avg ≈22.4% | ≈22.4% | 22.4% | In line |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | EPD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 0.95Y avg ≈1.0 | ≈1.0 | 0.9 | Strong liquidity | |
| Quick Ratio | 0.15Y avg ≈0.3 | ≈0.3 | 0.5 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | EPD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -6.4%5Y avg ≈16.9% | ≈16.9% | · | · | |
| Revenue CAGR 3Y | -3.3%5Y avg ≈10.1% | ≈10.1% | · | · | |
| Revenue CAGR 5Y | 14.1% | · | · | · | |
| Net Income YoY | -1.5%5Y avg ≈9.4% | ≈9.4% | · | · | |
| Net Income CAGR 3Y | 1.9%5Y avg ≈8.0% | ≈8.0% | · | · | |
| Net Income CAGR 5Y | 9.0% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | EPD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.75Y avg ≈0.7 | ≈0.7 | 0.5 | Top tier | |
| Inventory Turnover | 9.85Y avg ≈12.3 | ≈12.3 | 27.5 | Weak |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Annualized Payout≈$2.24
5Y Div CAGR≈3.9%
Growth Streak≈26
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jul 31, 2026 | $0.56 | USD | ≈5.8% |
| Apr 30, 2026 | $0.55 | USD | ≈5.7% |
| Jan 30, 2026 | $0.55 | USD | ≈6.6% |
| Oct 31, 2025 | $0.55 | USD | ≈7.0% |
| Jul 31, 2025 | $0.55 | USD | ≈6.9% |
| Apr 30, 2025 | $0.54 | USD | ≈7.1% |
| Jan 31, 2025 | $0.54 | USD | ≈6.4% |
| Oct 31, 2024 | $0.53 | USD | ≈7.3% |
| Jul 31, 2024 | $0.53 | USD | ≈7.1% |
| Apr 29, 2024 | $0.52 | USD | ≈7.1% |
| Jan 30, 2024 | $0.52 | USD | ≈7.4% |
| Oct 30, 2023 | $0.50 | USD | ≈7.5% |
| Jul 28, 2023 | $0.50 | USD | ≈7.4% |
| Apr 27, 2023 | $0.49 | USD | ≈7.3% |
| Jan 30, 2023 | $0.49 | USD | ≈7.4% |
| Oct 28, 2022 | $0.48 | USD | ≈7.6% |
| Jul 28, 2022 | $0.48 | USD | ≈7.0% |
| Apr 28, 2022 | $0.47 | USD | ≈6.9% |
| Jan 28, 2022 | $0.47 | USD | ≈7.7% |
| Oct 28, 2021 | $0.45 | USD | ≈7.8% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.57%
Next Report
Oct 28, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 27, 2026 | $0.84 | $0.74 | 13.2% |
| March 31, 2026 | $0.68 | $0.72 | -5.2% | |
| Dec. 31, 2025 | $0.75 | $0.70 | 7.3% | |
| Sept. 30, 2025 | $0.61 | $0.68 | -10.1% | |
| June 30, 2025 | $0.66 | $0.65 | 1.3% | |
| March 31, 2025 | $0.64 | $0.71 | -9.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $52.60B | $56.22B | $49.72B | $58.19B | $40.81B | $27.20B | $32.79B | $36.53B | $29.24B | $23.02B | $27.03B | $47.95B | |
| Cost of Revenue | $38.57B | $42.58B | $37.02B | $45.84B | $29.89B | $16.72B | $22.07B | $26.79B | $21.49B | $15.71B | $19.61B | $40.46B | |
| SG&A Expense | $251M | $244M | $231M | $241M | $209M | $220M | $212M | $208M | $181M | $160M | $193M | $214M | |
| Operating Expenses | $45.69B | $49.29B | $43.25B | $51.74B | $35.29B | $22.59B | $27.27B | $31.61B | $25.74B | $19.80B | $23.86B | $44.44B | |
| Operating Income | $7.27B | $7.34B | $6.93B | $6.91B | $6.10B | $5.04B | $6.08B | $5.41B | $3.93B | $3.58B | $3.54B | $3.78B | |
| Interest Expense | · | · | $1.27B | $1.24B | $1.28B | $1.29B | $1.24B | $1.10B | $985M | $983M | $962M | $921M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | $1M | |
| Other Non-op | $4M | $2M | $14M | $23M | $0 | $1M | $5M | $0 | $0 | $3M | $3M | $2M | |
| Pretax Income | $5.90B | $6.04B | $5.70B | $5.70B | $4.83B | $3.76B | $4.73B | $4.30B | $2.88B | $2.58B | $2.56B | $2.86B | |
| Income Tax | $23M | $65M | $44M | $82M | $70M | $-124M | $46M | $60M | $26M | $23M | $-2M | $23M | |
| Net Income | $5.81B | $5.90B | $5.53B | $5.49B | $4.63B | $3.77B | $4.59B | $4.17B | $2.80B | $2.51B | $2.52B | $2.79B | |
| Shares (Diluted) | 2,188,000,000 | 2,192,000,000 | 2,194,000,000 | 2,199,000,000 | 2,203,000,000 | 2,202,000,000 | 2,201,700,000 | 2,187,000,000 | 2,154,300,000 | 2,089,100,000 | 1,998,600,000 | 1,895,200,000 | |
| EBITDA | $7.27B | $7.34B | $6.93B | $6.91B | $6.10B | $7.11B | $8.03B | $7.20B | $5.57B | $5.13B | $5.06B | $5.14B |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $969M | $583M | $180M | $76M | $2.82B | $1.06B | $335M | $345M | $5M | $63M | $19M | $74M | |
| Receivables | · | · | · | $6.96B | $6.97B | $4.80B | $4.87B | $3.66B | $4.36B | $3.33B | $2.57B | $3.82B | |
| Inventory | $3.88B | $3.96B | $3.35B | $2.55B | $2.68B | $3.30B | $2.09B | $1.52B | $1.61B | $1.77B | $1.04B | $1.01B | |
| Prepaid Expense | $1.30B | $566M | $457M | $394M | $399M | $411M | $358M | $312M | $313M | $468M | $396M | $350M | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | $396M | $350M | |
| Current Assets | $13.36B | $15.13B | $12.25B | $10.60B | $13.27B | $9.91B | $7.86B | $6.06B | $6.51B | $6.53B | $4.30B | $5.49B | |
| PP&E (Net) | $51.36B | $49.06B | $45.80B | $44.40B | $42.09B | $41.91B | $41.60B | $38.74B | $35.62B | $33.29B | $32.03B | $29.88B | |
| PP&E (Gross) | $75.47B | $71.20B | $66.22B | $63.12B | $59.09B | $57.50B | $55.28B | $50.90B | $46.55B | $43.00B | $40.61B | $38.05B | |
| Accum. Depreciation | · | $22.33B | $20.46B | $18.80B | $17.08B | $15.58B | $13.68B | $12.16B | $10.92B | $9.71B | $8.58B | $8.17B | |
| Goodwill | $5.71B | $5.71B | $5.61B | $5.61B | $5.45B | $5.45B | $5.75B | $5.75B | $5.75B | $5.75B | $5.75B | $4.30B | |
| Intangibles | $4.16B | $4.00B | $3.77B | $3.96B | $3.15B | $3.31B | $3.45B | $3.61B | $3.69B | $3.86B | $4.04B | $4.30B | |
| Other Non-current Assets | $690M | $997M | $1.22B | $1.18B | $1.14B | $1.10B | $472M | $203M | $196M | $87M | $58M | $184M | |
| Total Assets | $77.90B | $77.17B | $70.98B | $68.11B | $67.53B | $64.11B | $61.73B | $56.97B | $54.42B | $52.19B | $48.80B | $47.20B | |
| Accounts Payable | · | · | · | $743M | $632M | $705M | $1.00B | $1.10B | $802M | $398M | $860M | $774M | |
| Current Liabilities | $12.83B | $15.18B | $13.13B | $12.27B | $11.62B | $8.99B | $9.13B | $7.17B | $9.30B | $8.25B | $7.17B | $7.87B | |
| Capital Leases | $377M | $366M | $323M | $341M | $339M | $321M | $172M | $0 | · | · | · | · | |
| Deferred Tax | $702M | $656M | $611M | $600M | $518M | $465M | $100M | $80M | $58M | $53M | $46M | $67M | |
| Other Non-current Liabilities | $607M | $950M | $984M | $941M | $760M | $687M | $1.03B | $752M | $578M | $504M | $412M | $411M | |
| Long-term Debt | $34.40B | $31.90B | $28.75B | $28.30B | $29.54B | $29.87B | $27.63B | $26.18B | $24.57B | $23.70B | $22.54B | $21.36B | |
| Total Debt | $34.40B | $31.90B | $28.75B | $28.30B | $29.54B | $29.87B | $27.63B | $26.18B | $24.57B | $23.70B | $22.69B | $21.36B | |
| Treasury Stock | · | · | · | · | · | · | $0 | · | · | · | · | · | |
| AOCI | $336M | $236M | $307M | $365M | $286M | $-165M | $71M | $51M | $-172M | $-280M | $-219M | $-242M | |
| Liabilities + Equity | $77.90B | $77.17B | $70.98B | $68.11B | $67.53B | $64.11B | $61.73B | $56.97B | $54.42B | $52.19B | $48.80B | $47.20B |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | $2.07B | $1.95B | $1.79B | $1.64B | $1.55B | $1.52B | $1.36B | |
| Deferred Tax | $46M | $45M | $12M | $60M | $40M | $-148M | $20M | $21M | $6M | $7M | $-21M | $6M | |
| Amort. of Intangibles | $216M | $207M | $201M | $177M | $151M | $143M | $175M | $170M | $167M | $171M | $174M | $111M | |
| Other Non-cash | · | · | · | · | · | $-575M | $-498M | $157M | $249M | $-186M | $-338M | $-100M | |
| Operating Cash Flow | $8.59B | $8.12B | $7.57B | $8.04B | $8.51B | $5.89B | $6.52B | $6.13B | $4.67B | $4.07B | $4.00B | $4.16B | |
| CapEx | $5.62B | $4.54B | $3.27B | $1.96B | $2.22B | $3.29B | $4.53B | $4.22B | $3.10B | $2.98B | $3.83B | $2.89B | |
| Investing Cash Flow | $-5.49B | $-5.43B | $-3.20B | $-4.95B | $-2.13B | $-3.12B | $-4.58B | $-4.28B | $-3.29B | $-4.01B | $-3.43B | · | |
| Stock Repurchased | $300M | $219M | $188M | $250M | $214M | $186M | $81M | $31M | $0 | $0 | · | · | |
| Net Stock Activity | $-300M | $-219M | $-188M | $-250M | $-214M | $-186M | $-81M | $-31M | · | · | · | · | |
| Financing Cash Flow | $-2.69B | $-2.16B | $-4.26B | $-5.84B | $-4.57B | $-2.02B | $-1.95B | $-1.50B | $-1.73B | $322M | $-616M | · | |
| Net Change in Cash | $407M | $518M | $114M | $-2.76B | $1.81B | $748M | $-100.0K | $340M | $-347M | $383M | $-40M | $18M | |
| Taxes Paid | $12M | $20M | $24M | $0 | $18M | $25M | $24M | · | · | · | · | · | |
| Free Cash Flow | $2.96B | $3.57B | $4.30B | $6.08B | $6.29B | $2.60B | $1.99B | $1.90B | $1.52B | $1.04B | $172M | $1.27B | |
| Levered FCF | · | · | $3.04B | $4.85B | $5.02B | $1.27B | $758M | $822M | $543M | $68M | $-791M | $356M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 13.8% | 13.1% | 13.9% | 11.9% | 15.0% | 18.5% | 18.5% | 14.8% | 13.4% | 15.6% | 13.1% | 7.9% | |
| Net Margin | 11.1% | 10.5% | 11.1% | 9.4% | 11.4% | 13.9% | 14.0% | 11.4% | 9.6% | 10.9% | 9.3% | 5.8% | |
| Pretax Margin | 11.2% | 10.7% | 11.5% | 9.8% | 11.8% | 13.8% | 14.4% | 11.8% | 9.8% | 11.2% | 9.5% | 6.0% | |
| EBITDA Margin | 13.8% | 13.1% | 13.9% | 11.9% | 15.0% | 26.1% | 24.5% | 19.7% | 19.1% | 22.3% | 18.7% | 10.7% | |
| ROA | 7.5% | 8.0% | 8.0% | 8.1% | 7.0% | 6.0% | 7.7% | 7.5% | 5.2% | 5.0% | 5.2% | 6.4% | |
| ROIC | 21.0% | 22.8% | 23.9% | 24.1% | 20.4% | 17.4% | 21.8% | 20.4% | 15.8% | 15.0% | 15.6% | 17.5% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | 0.9 | 0.9 | 1.1 | 1.1 | 0.9 | 0.8 | 0.7 | 0.8 | 0.6 | 0.7 | |
| Quick Ratio | 0.1 | 0.0 | 0.0 | 0.6 | 0.8 | 0.7 | 0.6 | 0.6 | 0.5 | 0.4 | 0.4 | 0.5 | |
| Interest Coverage | · | · | 5.5 | 5.6 | 4.8 | 3.9 | 4.9 | 4.9 | 4.0 | 3.6 | 3.7 | 4.1 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.8 | 0.7 | 0.9 | 0.6 | 0.4 | 0.6 | 0.7 | 0.5 | 0.5 | 0.6 | 1.1 | |
| Inventory Turnover | 9.8 | 11.7 | 12.5 | 17.5 | 10.0 | 6.2 | 12.2 | 17.1 | 12.7 | 11.2 | 19.1 | 38.4 | |
| Receivables Turnover | · | · | · | 8.4 | 6.9 | 5.6 | 7.7 | 9.1 | 7.6 | 7.8 | 8.5 | 10.3 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $24.04 | $25.65 | $22.66 | $26.46 | $18.52 | $12.35 | $14.89 | $16.71 | $13.57 | $11.02 | $13.52 | $25.30 | |
| Cash Flow / Share | $3.92 | $3.70 | $3.45 | $3.66 | $3.86 | $2.68 | $2.96 | $2.80 | $2.17 | $1.95 | $2.00 | $2.20 | |
| EPS (TTM) | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 | $1.73 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -6.4% | 13.1% | -14.6% | 42.6% | 50.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -3.3% | 11.3% | 22.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.5% | 6.7% | 0.77% | 18.4% | 22.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 1.9% | 8.4% | 13.6% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 9.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $52.60B | $56.22B | $49.72B | $58.19B | $40.81B | $27.20B | $32.79B | $36.53B | $29.24B | $23.02B | $27.03B | $47.95B | |
| Net Income TTM | $5.81B | $5.90B | $5.53B | $5.49B | $4.63B | $3.77B | $4.59B | $4.17B | $2.80B | $2.51B | $2.52B | $2.79B | |
| P/E | 18.5 | 18.1 | 15.2 | 13.9 | 12.7 | 11.3 | 16.3 | 14.2 | 15.3 | 15.6 | 14.8 | 20.9 | |
| Earnings Yield | 5.4% | 5.5% | 6.6% | 7.2% | 7.9% | 8.8% | 6.1% | 7.0% | 6.5% | 6.4% | 6.8% | 4.8% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.27B | $14.39B | $13.79B | $12.02B | $11.36B | $15.42B | $14.20B | $13.78B | $13.48B | $14.76B | $14.62B | $12.00B | $10.65B | $12.44B | $13.65B | $15.47B | |
| Cost of Revenue | $14.16B | $10.68B | $10.07B | $8.59B | $7.90B | $12.01B | $10.60B | $10.39B | $10.18B | $11.40B | $11.23B | $8.79B | $7.68B | $9.33B | $10.51B | $12.32B | |
| SG&A Expense | $64M | $64M | $62M | $61M | $68M | $60M | $60M | $61M | $57M | $66M | $59M | $59M | $56M | $57M | $62M | $55M | |
| Operating Expenses | $16.13B | $12.57B | $11.85B | $10.43B | $9.66B | $13.75B | $12.34B | $12.09B | $11.82B | $13.04B | $12.82B | $10.43B | $9.19B | $10.81B | $12.01B | $13.87B | |
| Operating Income | $2.25B | $1.90B | $2.02B | $1.69B | $1.79B | $1.76B | $1.97B | $1.78B | $1.76B | $1.82B | $1.92B | $1.70B | $1.58B | $1.73B | $1.76B | $1.71B | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $331M | · | $328M | $302M | $314M | · | $309M | |
| Other Non-op | $-1M | $1M | $0 | $2M | $1M | $1M | $2M | $0 | $0 | $0 | $302M | $0 | $14M | $-302M | $17M | $4M | |
| Pretax Income | $1.87B | $1.52B | $1.66B | $1.34B | $1.47B | $1.43B | $1.64B | $1.45B | $1.44B | $1.50B | $1.60B | $1.37B | $1.30B | $1.43B | $1.48B | $1.41B | |
| Income Tax | $12M | $22M | $-4M | $-13M | $16M | $24M | $10M | $19M | $15M | $21M | $-1M | $22M | $13M | $10M | $28M | $18M | |
| Net Income | $1.84B | $1.48B | $1.64B | $1.34B | $1.44B | $1.39B | $1.62B | $1.42B | $1.41B | $1.46B | $1.57B | $1.32B | $1.25B | $1.39B | $1.42B | $1.36B | |
| Shares (Diluted) | 2,185,000,000 | 2,187,000,000 | · | 2,186,000,000 | 2,190,000,000 | 2,191,000,000 | · | 2,192,000,000 | 2,194,000,000 | 2,193,000,000 | · | 2,194,000,000 | 2,196,000,000 | 2,195,000,000 | · | 2,199,000,000 | |
| EBITDA | $2.25B | $1.90B | · | $1.69B | $1.79B | $1.76B | · | $1.78B | $1.76B | $1.82B | · | $1.70B | · | $1.73B | · | $1.71B |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $246M | $191M | $969M | $206M | $870M | $220M | $583M | $1.43B | $138M | $283M | · | $171M | $183M | $76M | · | $167M | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | · | · | $6.63B | · | $6.70B | |
| Inventory | $4.67B | $5.23B | $3.88B | $4.16B | $3.97B | $3.23B | $3.96B | $3.32B | $3.36B | $3.26B | · | $3.35B | $2.50B | $2.19B | · | $3.17B | |
| Prepaid Expense | $832M | $713M | $1.30B | $677M | $844M | $606M | $566M | $565M | $543M | $531M | · | $436M | $463M | $384M | · | $435M | |
| Current Assets | $15.90B | $15.68B | $13.36B | $13.24B | $14.16B | $12.76B | $15.13B | $14.38B | $13.45B | $12.09B | · | $11.43B | $9.70B | $9.69B | · | $11.08B | |
| PP&E (Net) | $52.22B | $51.73B | $51.36B | $51.51B | $50.49B | $49.72B | $49.06B | $48.10B | $47.44B | $46.43B | · | $45.34B | $45.05B | $44.60B | · | $44.17B | |
| PP&E (Gross) | $77.39B | $76.33B | $75.47B | $75.12B | $73.64B | $72.36B | $71.20B | $69.77B | $68.63B | $67.25B | · | $65.28B | $64.66B | $63.76B | · | $62.46B | |
| Goodwill | $5.71B | $5.71B | $5.71B | $5.71B | $5.71B | $5.71B | $5.71B | $5.61B | $5.61B | $5.61B | $5.61B | $5.61B | $5.61B | $5.61B | $5.61B | $5.61B | |
| Intangibles | $4.05B | $4.10B | $4.16B | $4.21B | $3.90B | $3.95B | $4.00B | $3.62B | $3.67B | $3.72B | · | $3.82B | $3.87B | $3.92B | · | $4.01B | |
| Other Non-current Assets | $944M | $1.16B | $1.13B | $954M | $952M | $1.01B | $997M | $1.08B | $1.10B | $1.20B | · | $1.27B | $1.16B | $1.18B | · | $1.21B | |
| Total Assets | $81.76B | $80.56B | $77.90B | $77.82B | $77.44B | $75.41B | $77.17B | $75.06B | $73.56B | $71.37B | · | $69.80B | $67.73B | $67.33B | · | $68.44B | |
| Accounts Payable | · | · | · | · | · | · | · | · | · | · | · | · | · | $750M | · | $754M | |
| Current Liabilities | $17.15B | $17.22B | $12.83B | $15.05B | $14.76B | $14.87B | $15.18B | $13.40B | $14.81B | $13.03B | · | $12.47B | $10.71B | $10.41B | · | $12.90B | |
| Capital Leases | $701M | $363M | $377M | $315M | $329M | $348M | $366M | $350M | $366M | $333M | · | $338M | $335M | $338M | · | $344M | |
| Deferred Tax | $720M | $716M | $702M | $655M | $672M | $667M | $656M | $634M | $625M | $620M | · | $605M | $591M | $603M | · | $565M | |
| Other Non-current Liabilities | $872M | $1.03B | $984M | $903M | $934M | $915M | $950M | $1.06B | $992M | $912M | · | $1.01B | $915M | $965M | · | $938M | |
| Long-term Debt | $33.23B | $33.91B | $34.40B | $33.58B | $32.73B | $31.58B | $31.90B | $31.91B | $30.34B | $29.43B | · | $28.92B | $28.65B | $28.59B | · | $29.20B | |
| Total Debt | $33.23B | $33.91B | · | $33.58B | $32.73B | $31.58B | · | $31.91B | $30.34B | $29.43B | · | $28.92B | · | $28.59B | · | $29.20B | |
| AOCI | $174M | $-15M | $336M | $264M | $236M | $285M | $236M | $303M | $176M | $143M | · | $203M | $268M | $241M | $365M | $373M | |
| Liabilities + Equity | $81.76B | $80.56B | $77.90B | $77.82B | $77.44B | $75.41B | $77.17B | $75.06B | $73.56B | $71.37B | · | $69.80B | $67.73B | $67.33B | · | $68.44B |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Tax | $5M | $14M | $47M | $-17M | $5M | $11M | $22M | $9M | $5M | $9M | $7M | $13M | $-11M | $3M | $36M | $8M | |
| Amort. of Intangibles | $59M | $58M | $57M | $55M | $52M | $52M | $52M | $54M | $51M | $50M | $53M | $52M | $50M | $46M | $45M | $46M | |
| Operating Cash Flow | $3.18B | $1.47B | $2.47B | $1.74B | $2.06B | $2.31B | $2.36B | $2.07B | $1.57B | $2.11B | $2.37B | $1.72B | $1.90B | $1.58B | $2.73B | $1.05B | |
| CapEx | $1.16B | $983M | $1.30B | $1.96B | $1.30B | $1.06B | $1.06B | $1.17B | $1.26B | $1.05B | $1.01B | $821M | $780M | $653M | $761M | $472M | |
| Investing Cash Flow | $-1.15B | $-381M | $-1.24B | $-1.94B | $-1.27B | $-1.05B | $-2.00B | $-1.15B | $-1.24B | $-1.04B | $-977M | $-818M | $-765M | $-637M | $-645M | $-441M | |
| Stock Repurchased | $159M | $116M | $50M | $80M | $110M | $60M | $63M | $76M | $40M | $40M | $96M | $0 | $75M | $17M | $143M | $72M | |
| Net Stock Activity | · | $-116M | · | · | · | $-60M | · | · | · | $-40M | · | · | · | $-17M | · | · | |
| Financing Cash Flow | $-2.08B | $-1.94B | $-424M | $-467M | $-145M | $-1.65B | $-1.19B | $319M | $-281M | $-1.01B | $-1.38B | $-863M | $-1.14B | $-876M | $-2.13B | $-751M | |
| Net Change in Cash | $-49M | $-851M | $813M | $-664M | $642M | $-384M | $-835M | $1.24B | $50M | $64M | $6M | $37M | $1M | $70M | $-49M | $-142M | |
| Taxes Paid | $1M | $0 | $0 | $0 | $15M | $-3M | $1M | $0 | $20M | $-1M | $2M | $10M | $10M | $2M | $0 | $3M | |
| Free Cash Flow | · | $486M | · | · | · | $1.25B | · | · | · | $1.06B | · | · | · | $930M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $738M | · | · | · | $618M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.3% | 13.2% | · | 14.0% | 15.8% | 11.4% | · | 12.9% | 13.1% | 12.3% | · | 14.1% | · | 13.9% | · | 11.1% | |
| Net Margin | 10.1% | 10.3% | · | 11.1% | 12.6% | 9.0% | · | 10.3% | 10.4% | 9.9% | · | 11.0% | · | 11.2% | · | 8.8% | |
| Pretax Margin | 10.2% | 10.5% | · | 11.2% | 12.9% | 9.3% | · | 10.5% | 10.7% | 10.2% | · | 11.4% | · | 11.5% | · | 9.1% | |
| EBITDA Margin | 12.3% | 13.2% | · | 14.0% | 15.8% | 11.4% | · | 12.9% | 13.1% | 12.3% | · | 14.1% | · | 13.9% | · | 11.1% | |
| ROA | 2.3% | 1.9% | · | 1.8% | 1.9% | 1.9% | · | 2.0% | 2.0% | 2.1% | · | 1.9% | · | 2.0% | · | 2.0% | |
| ROIC | 6.7% | 5.5% | · | 5.1% | 5.4% | 5.5% | · | 5.5% | 5.8% | 6.1% | · | 5.8% | · | 6.0% | · | 5.8% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.9 | · | 0.9 | 1.0 | 0.9 | · | 1.1 | 0.9 | 0.9 | · | 0.9 | · | 0.9 | · | 0.9 | |
| Quick Ratio | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | · | 0.6 | · | 0.5 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 5.5 | · | 5.2 | · | 5.5 | · | 5.5 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | · | 0.2 | · | 0.2 | |
| Inventory Turnover | 3.3 | 2.5 | · | 2.3 | 2.2 | 3.7 | · | 3.1 | 3.5 | 4.2 | · | 2.7 | · | 3.9 | · | 3.9 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.6 | · | 2.4 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $8.36 | $6.58 | · | $5.50 | $5.19 | $7.04 | · | $6.28 | $6.15 | $6.73 | · | $5.47 | · | $5.67 | · | $7.03 | |
| Cash Flow / Share | · | $0.67 | · | · | · | $1.06 | · | · | · | $0.96 | · | · | · | $0.72 | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $58.47B | $51.56B | · | $53.00B | $54.76B | $56.88B | · | $56.64B | $54.86B | $52.03B | · | $48.74B | $52.21B | $57.62B | · | $55.91B | |
| Net Income TTM | $6.30B | $5.90B | · | $5.79B | $5.86B | $5.83B | · | $5.85B | $5.75B | $5.59B | · | $5.38B | $5.42B | $5.58B | · | $5.09B |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $52.60B | $56.22B | $49.72B | $58.19B | $40.81B |
| Operating Margin % | 13.8% | 13.1% | 13.9% | 11.9% | 15.0% |
| Net Income | $5.81B | $5.90B | $5.53B | $5.49B | $4.63B |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | 0.9 | 0.9 | 1.1 |
| Quick Ratio | 0.1 | 0.0 | 0.0 | 0.6 | 0.8 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $2.96B | $3.57B | $4.30B | $6.08B | $6.29B |
Institutional owners (13F) 1,691 filers · $20.2B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
1,691
Value held
$20.2B
New positions
87
Exited positions
98
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 87 (-130 vs prior Q) | 98 (+41 vs prior Q) | 557 (+18 vs prior Q) | 448 (-37 vs prior Q) | +50.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| ALPS ADVISORS INC | $1,604,759,859 | 43,655,056 | 7.95% | Shares |
| Invesco Ltd. | $978,436,324 | 26,616,875 | 4.85% | Shares |
| Blackstone Inc. | $873,430,135 | 23,760,341 | 4.33% | Shares |
| MORGAN STANLEY | $817,880,563 | 22,249,198 | 4.05% | Shares |
| TORTOISE CAPITAL ADVISORS, L.L.C. | $682,137,712 | 18,556,521 | 3.38% | Shares |
| GOLDMAN SACHS GROUP INC | $643,868,046 | 17,515,453 | 3.19% | Shares |
| Fayez Sarofim & Co | $588,122,566 | 15,998,982 | 2.91% | Shares |
| Energy Income Partners, LLC | $508,461,122 | 13,831,913 | 2.52% | Shares |
| NEUBERGER BERMAN GROUP LLC | $498,472,225 | 13,560,232 | 2.47% | Shares |
| KAYNE ANDERSON CAPITAL ADVISORS LP | $473,080,063 | 12,869,425 | 2.34% | Shares |
| AMERICAN CENTURY COMPANIES INC | $434,992,770 | 11,833,318 | 2.15% | Shares |
| UBS Group AG | $434,334,324 | 11,815,406 | 2.15% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $433,047,725 | 11,780,406 | 2.14% | Shares |
| BANK OF AMERICA CORP /DE/ | $416,552,810 | 11,331,687 | 2.06% | Shares |
| CIBC Bancorp USA Inc. | $311,255,416 | 8,467,839 | 1.54% | Shares |
| Ensign Peak Advisors, Inc | $301,062,966 | 8,189,961 | 1.49% | Shares |
| CIBC Private Wealth Group LLC | $290,091,771 | 9,276,999 | 1.44% | Shares |
| BlackRock, Inc. | $255,324,652 | 6,945,720 | 1.26% | Shares |
| BERKLEY W R CORP | $250,887,000 | 6,825,000 | 1.24% | Shares |
| RAYMOND JAMES FINANCIAL INC | $244,951,730 | 6,663,540 | 1.21% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $217,570,180 | 5,918,667 | 1.08% | Shares |
| FMR LLC | $212,689,610 | 5,785,898 | 1.05% | Shares |
| Clearbridge Investments, LLC | $202,470,220 | 5,507,895 | 1.00% | Shares |
| FAIRHOLME CAPITAL MANAGEMENT LLC | $200,555,208 | 5,455,800 | 0.99% | Shares |
| WELLS FARGO & COMPANY/MN | $181,532,305 | 4,938,312 | 0.90% | Shares |
| Hamlin Capital Management, LLC | $176,167,043 | 4,792,357 | 0.87% | Shares |
| JPMORGAN CHASE & CO | $162,724,614 | 4,438,751 | 0.81% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $158,509,120 | 4,312,000 | 0.78% | Call option |
| LPL Financial LLC | $156,666,568 | 4,261,876 | 0.78% | Shares |
| STIFEL FINANCIAL CORP | $148,449,116 | 4,038,337 | 0.74% | Shares |
| HighTower Advisors, LLC | $140,498,670 | 3,822,053 | 0.70% | Shares |
| Paralel Advisors LLC | $134,174,000 | 3,650,000 | 0.66% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $129,566,906 | 3,524,671 | 0.64% | Shares |
| REAVES W H & CO INC | $128,437,234 | 3,493,940 | 0.64% | Shares |
| ROYAL BANK OF CANADA | $121,115,000 | 3,294,713 | 0.60% | Shares |
| EAGLE GLOBAL ADVISORS LLC | $120,766,378 | 3,285,266 | 0.60% | Shares |
| MILLER HOWARD INVESTMENTS INC /NY | $118,069,104 | 3,211,891 | 0.58% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $114,762,442 | 3,121,938 | 0.57% | Shares |
| Arax Advisory Partners | $97,324,787 | 2,647,573 | 0.48% | Shares |
| Corient Private Wealth LP | $97,179,713 | 2,643,627 | 0.48% | Shares |
| Americana Partners, LLC | $89,145,099 | 2,425,057 | 0.44% | Shares |
| CITADEL ADVISORS LLC | $87,433,660 | 2,378,500 | 0.43% | Call option |
| Rockefeller Capital Management L.P. | $87,318,181 | 2,375,357 | 0.43% | Shares |
| U.S. Capital Wealth Advisors, LLC | $86,151,958 | 2,276,743 | 0.43% | Shares |
| ING GROEP NV | $82,562,960 | 2,246,000 | 0.41% | Shares |
| Chicago Partners Investment Group LLC | $80,436,336 | 2,073,101 | 0.40% | Shares |
| JANE STREET GROUP, LLC | $76,732,824 | 2,087,400 | 0.38% | Call option |
| Recurrent Investment Advisors LLC | $74,674,852 | 2,031,416 | 0.37% | Shares |
| First Eagle Investment Management, LLC | $71,977,403 | 1,958,036 | 0.36% | Shares |
| Brookfield Corp /ON/ | $70,965,308 | 1,930,503 | 0.35% | Shares |
Activists & 5%+ owners 19 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Dan Duncan LLC, EPCO Holdings, Inc., Enterprise Products Company (formerly EPCO, Inc.), Randa Duncan Williams, The Voting Trustees of the Dan Duncan LLC Voting Trust, The Voting Trustees of the Enterprise Products Company Voting Trust | Oct. 2, 2026 | 32.60% | Amendment | Passive investment | SEC |
| Randa Duncan Williams, The Voting Trustees of the Dan Duncan LLC Voting Trust, The Voting Trustees of the Enterprise Products Company Voting Trust, EPCO Holdings, Inc., Enterprise Products Company (formerly EPCO, Inc.), Dan Duncan LLC ×15 filings | April 1, 2025 | 32.40% | Amendment | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 14, 2023 | · | Initial filing | Passive investment | SEC |
| The Voting Trustees of the Dan Duncan LLC Voting Trust, Dan Duncan LLC, Enterprise Products Holdings LLC, Enterprise Products Partners L.P., Enterprise Products OLPGP, Inc., Enterprise Products Operating LLC ×3 filings | Nov. 17, 2014 | · | Initial filing | M&A / sale | SEC |
| Randa Duncan Williams (2), The Voting Trustees of the Dan Duncan LLC Voting Trust (2), The Estate of Dan L. Duncan, Deceased (2), Dan Duncan LLC, Enterprise Products Holdings LLC (formerly named EPE Holdings, LLC), Enterprise Products Partners L.P., Enterprise Products OLPGP, Inc., Enterprise Products Operating LLC, Enterprise ETE LLC | Jan. 3, 2012 | · | Initial filing | · | SEC |
| ; S.S. or IRS Identification Dan L. Duncan, ; S.S. or IRS Identification DFI Delaware General, LLC, ; S.S. or IRS Identification DFI Delaware Holdings L.P. (formerly Enterprise Products Delaware Holdings L.P.), ; S.S. or IRS Identification Duncan Family Interests, Inc. (formerly EPC Partners II, Inc.), ; S.S. or IRS Identification EPCO Holdings, Inc., ; S.S. or IRS Identification EPCO/Fantome, LLC, ; S.S. or IRS Identification EPCO, Inc. (formerly Enterprise Products Company), ; S.S. or IRS Identification Dan Duncan LLC, ; S.S. or IRS Identification DFI Holdings, LLC, ; S.S. or IRS Identification DFI GP Holdings L.P., ; S.S. or IRS Identification EPE Holdings, LLC, ; S.S. or IRS Identification Enterprise GP Holdings L.P., ; S.S. or IRS Identification DD Securities LLC ×12 filings | Nov. 5, 2009 | · | Initial filing | M&A / sale | SEC |
| Dan L. Duncan, Dan Duncan LLC 76 0516773, EPE Holdings, LLC 13 4297068, Enterprise GP Holdings L.P. 20 2133626, Enterprise Products GP, LLC 76 0568221, Enterprise Products Partners L.P. 76 0568219, Enterprise Products OLPGP, Inc. 83 0378402, Enterprise Products Operating L.P. 76 0568220 | Feb. 15, 2007 | · | Initial filing | Passive investment | SEC |
| Shell US Gas & Power LLC, Shell Oil Company, SWEPI LP, Shell Gas Pipeline Corp. #2, Shell Gas Gathering Corp. #2 | Jan. 22, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | July 25, 2005 | · | Initial filing | · | SEC |
| ; S.S. or IRS Identification Dan L. Duncan ###-##-####, ; S.S. or IRS Identification DFI Delaware Holdings L.P. (formerly Enterprise Products Delaware Holdings L.P.), ; S.S. or IRS Identification Duncan Familiy Interests, Inc. (formerly EPC Partners II, Inc.), ; S.S. or IRS Identification EPCO, Inc. (formerly Enterprise Products Company), ; S.S. or IRS Identification Dan Duncan LLC, ; S.S. or IRS Identification Enterprise GP Holdings L.P. ×26 filings | April 13, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 4, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 30, 2004 | · | Initial filing | · | SEC |
| Sept. 15, 2003 | · | Initial filing | · | SEC | |
| Sept. 15, 2003 | · | Initial filing | · | SEC | |
| Sept. 15, 2003 | · | Initial filing | · | SEC | |
| Sept. 15, 2003 | · | Initial filing | · | SEC | |
| Sept. 15, 2003 | · | Initial filing | · | SEC | |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 15, 2003 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 13, 2001 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 58 insiders · 31 officers · 26 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Aj Teague | CO-CHIEF EXECUTIVE OFFICER | March 20, 2026 P | 77,576 | 1 | 0 | $100,071 |
| Randall W Fowler | CO-CHIEF EXECUTIVE OFFICER | Feb. 16, 2026 M | 1,804,490 | 0 | 0 | $0 |
| Michael A Creel | Chief Executive Officer | Feb. 22, 2015 F | 1,576,074 | 0 | 0 | $0 |
| PHILLIPS ROBERT G | President and CEO | May 29, 2007 A | 152,070 | 0 | 0 | $0 |
| Os Andras | President and CEO | Sept. 30, 2004 J | 3,413,222 | 0 | 0 | $0 |
| Daniel Boss | EXECUTIVE VICE PRESIDENT & CFO | Feb. 16, 2026 M | 349,048 | 0 | 0 | $0 |
| Bryan F. Bulawa | SVP & Chief Financial Officer | Feb. 16, 2018 M | 163,787 | 0 | 0 | $0 |
| Graham W. Bacon | EXECUTIVE VICE PRESIDENT & COO | Feb. 16, 2026 M | 676,476 | 0 | 0 | $0 |
| Michael C. Hanley | EVP & Chief Commercial Officer | Feb. 16, 2026 M | 158,058 | 0 | 0 | $0 |
| Christian M. Nelly | EVP-FIN/SUSTAIN. AND TREASURER | Feb. 16, 2026 M | 320,278 | 0 | 0 | $0 |
| Harry Weitzel | EVP, GENERAL COUNSEL & SEC | Feb. 16, 2026 M | 315,348 | 0 | 0 | $0 |
| Brent B. Secrest | EVP & CHIEF COMMERCIAL OFFICER | Feb. 16, 2025 M | 390,354 | 0 | 0 | $0 |
| Michael W Hanson | VP & Principal Acctg Officer | Feb. 16, 2021 M | 142,892 | 0 | 0 | $0 |
| Robert D Sanders | EVP, Asset Optimization | Feb. 28, 2020 J | 45,786 | 0 | 0 | $0 |
| William Ordemann | Executive Vice President | Aug. 3, 2019 M | 997,563 | 0 | 0 | $0 |
| Gerald R. Cardillo | Group Senior Vice President | Feb. 22, 2016 J | 177,912 | 0 | 0 | $0 |
| Michael J Knesek | SVP, PAO, & Controller | Feb. 22, 2016 J | 247 | 0 | 0 | $0 |
| Craig W. Murray | Group SVP & General Counsel | Feb. 16, 2016 A | 64,827 | 0 | 0 | $0 |
| Michael Corwin Smith | Group Senior Vice President | Feb. 22, 2015 F | 154,671 | 0 | 0 | $0 |
| Stephanie C Hildebrandt | SVP, General Counsel & Sec | Nov. 3, 2014 F | 248,362 | 0 | 0 | $0 |
| Terrance L Hurlburt | Group Senior Vice President | Feb. 23, 2014 F | 196,771 | 0 | 0 | $0 |
| Thomas M. Zulim | Group Senior Vice President | Aug. 5, 2013 P | 550 | 0 | 0 | $0 |
| Lynn L Bourdon III | Group Senior Vice President | May 6, 2013 F | 297,734 | 0 | 0 | $0 |
| Mark A. Hurley | Senior Vice President | March 30, 2012 P | 56,012 | 0 | 0 | $0 |
| James M Collingsworth | Senior Vice President | Feb. 23, 2012 F | 281,197 | 0 | 0 | $0 |
| Christopher R. Skoog | Senior Vice President | Feb. 21, 2012 A | 139,692 | 0 | 0 | $0 |
| Dan L Duncan | Chairman | March 3, 2010 P | 1,923,322 | 0 | 0 | $0 |
| Bart H Heijermans | Senior Vice President | Aug. 4, 2005 A | 86,577 | 0 | 0 | $0 |
| Joel D Moxley | Sr. VP | Aug. 4, 2005 A | 32,048 | 0 | 0 | $0 |
| James A Cisarik | Sr. VP | Aug. 4, 2005 A | 7,500 | 0 | 0 | $0 |
| William D Ray | Executive Vice President | Aug. 7, 2003 M | 30,402 | 0 | 0 | $0 |
| Richard H Bachmann | Director | Feb. 16, 2026 M | 2,270,826 | 0 | 0 | $0 |
| Rebecca G. Followill | Director | Feb. 10, 2026 A | 13,448 | 0 | 0 | $0 |
| Murray E Brasseux | Director | Feb. 10, 2026 A | 41,445 | 0 | 0 | $0 |
| William C Montgomery | Director | Feb. 10, 2026 A | 139,480 | 0 | 0 | $0 |
| John R Rutherford | Director | Feb. 10, 2026 A | 176,146 | 1 | 0 | $481,350 |
| Carin Marcy Barth | Director | Feb. 10, 2026 A | 87,980 | 0 | 0 | $0 |
| James T Hackett | Director | Feb. 10, 2026 A | 266,155 | 0 | 0 | $0 |
| Richard S Snell | Director | Feb. 8, 2022 A | 90,396 | 0 | 0 | $0 |
| Randa Duncan Williams | Director | Feb. 11, 2019 A | 10,000 | 0 | 0 | $0 |
| Charles E Mcmahen | Director | Feb. 11, 2019 A | 110,974 | 0 | 0 | $0 |
| Thurmon Andress | Director | Dec. 22, 2015 P | 47,552 | 0 | 0 | $0 |
| William E Barnett | Director | Feb. 18, 2015 A | 46,610 | 0 | 0 | $0 |
| Ralph S Cunningham | Director | March 25, 2014 G | 128,769 | 0 | 0 | $0 |
| Larry Casey | Director | Feb. 19, 2014 A | 26,043 | 0 | 0 | $0 |
| Rex Ross | Director | Feb. 19, 2014 A | 13,128 | 0 | 0 | $0 |
| Charles M Rampacek | Director | Feb. 22, 2011 A | 13,640 | 0 | 0 | $0 |
| Philip C Jackson JR | Director | Aug. 2, 2006 A | 19,225 | 0 | 0 | $0 |
| Stephen L Baum | Director | Aug. 2, 2006 A | 1,000 | 0 | 0 | $0 |
| Matt W Ralls | Director | Aug. 4, 2005 A | 5,099 | 0 | 0 | $0 |
| Edwin E Smith | · | March 6, 2017 S | 420,654 | 0 | 0 | $0 |
| James F. Guion | · | May 6, 2009 A | 16,600 | 0 | 0 | $0 |
| LYTAL JAMES H | · | Jan. 15, 2009 D | 54,836 | 0 | 0 | $0 |
| Gil H Radtke | · | May 28, 2008 F | 66,818 | 0 | 0 | $0 |
| Richard A Hoover | · | Aug. 4, 2005 A | 26,292 | 0 | 0 | $0 |
| Charles E Crain | · | Aug. 4, 2005 A | 132,697 | 0 | 0 | $0 |
| SHELL US GAS & POWER LLC | · | April 1, 2005 S | 35,368,522 | 0 | 0 | $0 |
| Lee W Marshall SR | · | Feb. 11, 2005 A | 11,512 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 31 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| AMZA · ETFis Series Trust I | 11.63% | 1,441,905 NS | July 31, 2026 | N-PORT |
| EMLP · First Trust Exchange-Traded Fund IV | 8.77% | 9,518,445 NS | July 31, 2026 | N-PORT |
| NBET · Neuberger Berman ETF Trust | 7.70% | 95,795 NS | July 31, 2026 | N-PORT |
| USAI · Pacer Funds Trust | 7.30% | 254,780 NS | July 31, 2026 | N-PORT |
| EIPX · First Trust Exchange-Traded Fund IV | 7.15% | 1,058,077 NS | July 31, 2026 | N-PORT |
| FPWR · First Trust Exchange-Traded Fund IV | 4.70% | 36,553 NS | July 31, 2026 | N-PORT |
| TBG · EA Series Trust | 2.71% | 185,637 NS | July 31, 2026 | N-PORT |
| JOET · Virtus ETF Trust II | 0.78% | 49,708 NS | July 31, 2026 | N-PORT |
| VRP · Invesco Exchange-Traded Fund Trust … | 0.70% | 21,269,000 | Oct. 5, 2026 | Daily |
| CVY · Invesco Exchange-Traded Fund Trust | 0.68% | 21,994 | Oct. 5, 2026 | Daily |
| GYLD · ARROW ETF TRUST | 0.64% | 6,218 NS | July 31, 2026 | N-PORT |
| VLLU · Harbor ETF Trust | 0.53% | 646 NS | July 31, 2026 | N-PORT |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.36% | 16,361,000 | Oct. 5, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.31% | 9,330,000 | Oct. 5, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | 0.29% | 61,626 | Oct. 5, 2026 | Daily |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.27% | 8,279,000 | Oct. 5, 2026 | Daily |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.18% | 6,446,000 | Oct. 5, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | 0.18% | 117,463 NS | July 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.09% | 132 NS | July 31, 2026 | N-PORT |
| GTOS · Invesco Actively Managed Exchange-T… | 0.07% | 85,800 | Oct. 5, 2026 | Daily |
| GTO · Invesco Actively Managed Exchange-T… | 0.01% | 295,600 | Oct. 2, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCRB · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
EPD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 26 analysts
BUY
Median target
$41.00
+10.0%
6 23.1%
Strong Buy
9 34.6%
Buy
10 38.5%
Hold
1 3.8%
Sell
0 0.0%
Strong Sell
12-Month Price Target
21 analysts · 2026-10-05Mean target $41.38 +11.1%
← Below all targets
Current price $37.26
Low$38.00
Mean$41.38
High$46.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| EPD | · | 18.5 | -6.4% | 11.1% | · | · |
| WMB | · | 28.1 | 13.8% | 21.9% | 20.7% | · |
| KMI | $61.16B | 20.1 | 12.2% | 18.0% | 9.9% | · |
| TRGP | $39.61B | 21.7 | 4.0% | 11.3% | 68.0% | · |
| MPLX | · | · | 8.9% | 38.1% | · | · |
| LNG | $41.29B | 8.1 | 27.2% | 26.7% | 78.3% | · |
| OKE | $46.28B | 13.6 | 55.0% | 10.1% | 17.2% | · |
| CQP | · | -109.1 | 23.6% | 27.8% | · | · |
| WES | · | · | 6.6% | 30.7% | · | · |
| PAA | · | · | -9.5% | 3.2% | · | · |
| DTM | $12.17B | 27.8 | 26.7% | 35.5% | 9.4% | · |
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Source: SEC 10-Q filed Aug 7, 2026