NGL-PC · NYSE · Energy
NGL Energy Partners LP (NGL-PC) — Rank #296 by gross profitability (GP/assets 0.23) · ROE — · Piotroski F-Score N/A.
As-of 2026-10-30 · 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
Company Snapshot
P/E, P/B, and dividend yield matter most — book value provides a floor.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
449
Industry
Oil & Gas Midstream
Exchange
NYSE
8/10
Flags passed
NGL-PC fails 2 critical flags
Passes 8 of 10 quality flags
- FAILRevenue declining YoY
Revenue contracted year over year
- FAILOperating margin declining
Operating margin lower than prior year
- PASSGross margin holding
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
Strengths Revenue growth accelerating · RPO outpacing revenue
No data Dilution · Valuation — not counted as a pass.
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
0/1 passAsset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.
Profitability
Does it make money well?
Warning: Operating margin declining, Revenue declining YoY · GP/assets 0.23
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%
Cash Flow Health
Is the cash real?
No warning flags · FCF 202% above net income
Free cash flow
$144.68M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
201.7%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.4%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net debt $3.26B
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.
Piotroski F-Score
N/A
Only 8/9 components determinable.
Valuation
Is the price reasonable?
No data
Capital allocation quality
Composite score
1.3 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports