NGL Energy Partners LP
Rank #306DeclineNGL · NYSE · Energy
NGL Energy Partners LP (NGL) — Rank #306 by gross profitability (GP/assets 0.23) · ROE — · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0001504461 · all metrics point-in-time as of the filing date.
About
NGL Energy Partners LP engages in the crude oil, condensate, natural gas liquids, crude oil and produced water businesses in the United States.
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It operates through three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from crude oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck washouts; and sells produced water for reuse and recycle, and brackish non-potable water. The Crude Oil Logistics segment purchases crude oil from producers and marketers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, and transportation services through pipelines and storage tanks. The Liquids Logistics segment offers natural gas liquids to commercial, retail, and industrial customers across the United States and Canada through its five terminals, third-party storage and terminal facilities, nine common carrier pipelines and a fleet of leased railcars. This segment also provides services for marine exports of butane through its facility located in Chesapeake, Virginia; and owns a propane pipeline in Michigan. NGL Energy Holdings LLC serves as the general partner of the company.
NGL Energy Partners LP was founded in 1940 and is headquartered in Tulsa, Oklahoma.
- Industry
- Oil & Gas Midstream
- Sector
- Energy
- State
- DE
- Filer Category
- Accelerated filer
- Fiscal Year End
- March 31
- Website
- nglenergypartners.com
Price History
Company Snapshot
P/E, P/B, and dividend yield matter most — book value provides a floor.
Market Cap
$2.14B
P/E (annual)
—
P/S (annual)
0.7
P/B
—
P/OCF (annual)
5.9
Shareholder Yield
—
Employees
449
Industry
Oil & Gas Midstream
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
0/1 passTerry Smith quality gate
Passes 0/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Asset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.23
Primary signal (Novy-Marx).
1st of 6 SIC 4922 peers
Return on equity
—
Gross margin
30.9%
2nd of 6 SIC 4922 peers
Revenue growth (YoY)
-9.0%
RPO growth (YoY)
48.6%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-17.8%
Revenue CAGR (5Y)
-9.6%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
-21.4%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
—
Current ratio
1.14×
4th of 6 SIC 4922 peers
Quick ratio
—
Net cash
-$3.26B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$144.68M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
2.02
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.4%
Stock-based comp intensity.
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.