NGL Energy Partners LP (NGL) Balance Sheet
NGL balance sheet, FY2026
March 31, 2026 · U.S. dollars$4.18B assets = $4.18B liabilities + −$6.2M equity
Liabilities exceed assets: shareholders’ equity is negative (−$6.2M).
Both columns are drawn to the same scale: what NGL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NGL financial health
Descriptive bands, not a rating. Fiscal FY2026.
NGL balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.32BFY2017 | $4.18BFY2026 | −4.5%/yr | |
| Total liabilities | $4.09BFY2017 | $4.18BFY2026 | +0.2%/yr | |
| Shareholders’ equity | $2.17BFY2017 | $25.9MFY2026 | −38.8%/yr | |
| Cash & short-term investments | $12.3MFY2017 | $8.5MFY2026 | −4.0%/yr | |
| Total debt | $2.99BFY2017 | $3.36BFY2026 | +1.3%/yr | |
| Net cash (debt) | −$2.98BFY2017 | −$3.35BFY2026 | −$368.1M | |
| Working capital | $545.6MFY2017 | $34.5MFY2026 | −$511.1M | |
| Book value per share | $19.37FY2017 | $0.20FY2026 | −39.7%/yr | |
| Current ratio | 1.58FY2017 | 1.05FY2026 | −0.53 | |
| Debt / equity | 1.38FY2017 | 129.59FY2026 | +128.21 | |
| Shares outstanding | 111.9MFY2017 | 127.0MFY2026 | +1.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NGL assets
NGL liabilities and equity
NGL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NGL balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $8.5M | $13.5M | $38.9M | $5.4M | $3.8M | $4.8M | $22.7M | $18.6M | $22.1M | $12.3M |
| Cash & equivalents | $8.5M | $5.6M | $38.9M | $5.4M | $3.8M | $4.8M | $22.7M | $18.6M | $22.1M | $12.3M |
| Short-term investments | — | $7.9M | — | — | — | $22.7M | — | $0 | $0 | $0 |
| Receivables | $670.0M | $583.7M | $721.2M | $1.05B | $1.13B | $727.1M | $572.0M | $1.01B | $1.03B | $807.3M |
| Inventory | $67.4M | $69.9M | $106.6M | $142.6M | $251.3M | $158.5M | $69.6M | $136.1M | $551.3M | $561.4M |
| Other current assets | $28.1M | $294.9M | $313.9M | $98.1M | $159.5M | $117.4M | $109.8M | $646.9M | $646.3M | $103.2M |
| Total current assets | $774.0M | $962.1M | $1.18B | $1.29B | $1.55B | $1.01B | $774.1M | $1.81B | $2.25B | $1.48B |
| Property, plant & equipment (net) | $2.21B | $2.18B | $2.19B | $2.31B | $2.58B | $2.86B | $3.03B | $1.83B | $1.52B | $1.79B |
| Goodwill & intangible assets | $1.16B | $1.43B | $1.53B | $1.76B | $1.86B | $2.00B | $2.60B | $1.91B | $2.12B | $2.62B |
| Long-term investments | $0 | $0 | $20.3M | $21.1M | $21.9M | $22.7M | $23.2M | $1.1M | $17.2M | $187.4M |
| Other non-current assets | $39.9M | $37.1M | $96.2M | $73.6M | $62.9M | $59.9M | $72.2M | $348.4M | $246.2M | $242.8M |
| Total assets | $4.18B | $4.61B | $5.02B | $5.46B | $6.07B | $5.95B | $6.50B | $5.90B | $6.15B | $6.32B |
| Liabilities | ||||||||||
| Accounts payable | $495.2M | $462.1M | $638.8M | $927.7M | $1.08B | $680.0M | $532.8M | $907.5M | $854.1M | $665.9M |
| Short-term debt | $44.9M | $36.7M | $36.4M | $34.2M | $43.6M | $49.3M | $61.5M | $648,000 | $646,000 | $29.6M |
| Deferred revenue | $15.2M | $10.3M | $17.3M | $14.7M | $7.9M | $11.2M | $19.5M | $8.5M | $8.4M | $35.9M |
| Total current liabilities | $739.5M | $739.2M | $977.3M | $1.11B | $1.28B | $910.8M | $845.8M | $1.25B | $1.13B | $938.6M |
| Long-term debt | $3.22B | $2.96B | $2.84B | $2.86B | $3.35B | $3.32B | $3.14B | $2.16B | $2.68B | $2.96B |
| Lease obligations | $115.6M | $113.2M | $101.7M | $92.6M | $114.0M | $150.7M | $177.8M | — | — | — |
| Other long-term liabilities | $219.1M | $211.0M | $199.7M | $169.6M | $177.1M | $218.3M | $235.1M | $63.6M | $170.6M | $187.6M |
| Total liabilities | $4.18B | $3.91B | $4.02B | $4.14B | $4.80B | $4.45B | $4.23B | $3.47B | $3.98B | $4.09B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | −$612.3M | −$170.3M | $134.8M | $455.6M | $401.5M | $582.8M | $1.37B | $2.07B | $1.85B | $2.19B |
| Retained earnings (deficit) | — | — | −$1.03B | −$1.36B | −$1.30B | −$1.48B | −$2.25B | −$2.42B | −$2.14B | −$2.26B |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | — | $9,000 | −$499,000 | −$450,000 | −$307,999 | −$265,999 | −$384,999 | −$255,000 | −$1.8M | −$1.8M |
| Minority interest | $20.7M | $20.7M | $18.2M | $16.5M | $17.4M | $69.5M | $73.0M | $0 | $0 | $0 |
| Total shareholders' equity | $25.9M | $676.7M | $1.03B | $1.35B | $1.30B | $1.48B | $2.25B | −$255,000 | $2.17B | $2.17B |
| Key figures | ||||||||||
| Total debt | $3.36B | $3.08B | $2.97B | $2.95B | $3.47B | $3.47B | $3.33B | $2.16B | $2.68B | $2.99B |
| Net cash (debt) | −$3.35B | −$3.07B | −$2.93B | −$2.94B | −$3.46B | −$3.47B | −$3.30B | −$2.14B | −$2.66B | −$2.98B |
| Working capital | $34.5M | $222.8M | $203.3M | $182.3M | $269.1M | $97.0M | −$71.7M | $561.5M | $1.12B | $545.6M |
| Tangible book value | −$1.13B | −$756.9M | −$498.3M | −$400.8M | −$562.0M | −$515.9M | −$345.6M | −$1.91B | $50.9M | −$448.9M |
| Book value per share | $0.20 | $5.13 | $7.82 | $10.34 | $10.02 | $11.49 | $17.67 | −$0.00 | $17.92 | $19.37 |
| Shares outstanding | 127.0M | 132.0M | 132.1M | 131.0M | 129.8M | 129.0M | 127.4M | 123.0M | 121.0M | 111.9M |
| Current ratio | 1.05 | 1.30 | 1.21 | 1.16 | 1.21 | 1.11 | 0.92 | 1.45 | 1.99 | 1.58 |
| Quick ratio | 0.92 | 0.81 | 0.78 | 0.95 | 0.89 | 0.80 | 0.70 | 0.82 | 0.93 | 0.87 |
| Debt / equity | 129.59 | 4.56 | 2.87 | 2.18 | 2.67 | 2.34 | 1.48 | — | 1.24 | 1.38 |
| Equity / assets | 0.6% | 14.7% | 20.6% | 24.8% | 21.4% | 24.9% | 34.6% | −0.0% | 35.3% | 34.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $5.1M | $8.5M | $6.5M | $8.7M | $5.4M | $13.5M | $5.7M | $4.5M | $5.3M | $38.9M | $738,000 | $2.7M |
| Cash & equivalents | $5.1M | $8.5M | $6.5M | $8.7M | $5.4M | $5.6M | $5.7M | $4.5M | $5.3M | $38.9M | $738,000 | $2.7M |
| Short-term investments | — | — | — | — | — | $7.9M | — | — | — | — | — | — |
| Receivables | $638.7M | $670.0M | $597.6M | $558.6M | $470.1M | $583.7M | $786.0M | $729.1M | $753.9M | $721.2M | $1.01B | $1.17B |
| Inventory | $67.7M | $67.4M | $78.8M | $118.0M | $81.5M | $69.9M | $134.1M | $193.9M | $158.7M | $106.6M | $201.6M | $250.6M |
| Other current assets | $26.1M | $28.1M | $38.5M | $32.6M | $28.5M | $294.9M | $90.1M | $76.0M | $72.4M | $313.9M | $123.3M | $137.6M |
| Total current assets | $737.6M | $774.0M | $721.4M | $717.9M | $585.6M | $962.1M | $1.02B | $1.00B | $990.3M | $1.18B | $1.34B | $1.56B |
| Property, plant & equipment (net) | $2.27B | $2.21B | $2.22B | $2.14B | $2.15B | $2.18B | $2.25B | $2.26B | $2.22B | $2.19B | $2.24B | $2.26B |
| Goodwill & intangible assets | $1.15B | $1.16B | $1.42B | $1.42B | $1.42B | $1.43B | $1.52B | $1.55B | $1.56B | $1.53B | $1.69B | $1.71B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $19.3M | $20.1M | $19.2M | $20.3M | $19.5M | $20.9M |
| Other non-current assets | $30.8M | $39.9M | $19.6M | $15.5M | $31.9M | $37.1M | $42.5M | $52.9M | $50.2M | $96.2M | $69.0M | $71.6M |
| Total assets | $4.18B | $4.18B | $4.38B | $4.30B | $4.19B | $4.61B | $4.85B | $4.89B | $4.84B | $5.02B | $5.36B | $5.63B |
| Liabilities | ||||||||||||
| Accounts payable | $450.5M | $495.2M | $451.7M | $391.3M | $312.8M | $462.1M | $645.4M | $594.6M | $627.7M | $638.8M | $832.0M | $1.08B |
| Short-term debt | $47.7M | $44.9M | $44.9M | $38.1M | $39.7M | $64.7M | $38.0M | $35.5M | $35.9M | $36.4M | $32.8M | $33.4M |
| Deferred revenue | $17.4M | $15.2M | $13.7M | $14.2M | $11.5M | $10.3M | $24.9M | $25.2M | $25.4M | $17.3M | $27.7M | $29.2M |
| Total current liabilities | $644.7M | $739.5M | $646.8M | $570.3M | $468.7M | $739.2M | $846.5M | $829.0M | $864.6M | $977.3M | $1.09B | $1.31B |
| Long-term debt | $3.26B | $3.22B | $2.93B | $2.91B | $2.87B | $2.96B | $3.08B | $3.12B | $3.02B | $2.84B | $2.68B | $2.78B |
| Lease obligations | $117.6M | $115.6M | $121.9M | $114.2M | $117.6M | $113.2M | $116.2M | $101.8M | $95.3M | $101.7M | $103.7M | $97.4M |
| Other long-term liabilities | $217.3M | $219.1M | $216.7M | $212.6M | $215.0M | $211.0M | $208.9M | $202.7M | $191.3M | $199.8M | $178.6M | $171.9M |
| Total liabilities | $4.13B | $4.18B | $3.79B | $3.69B | $3.56B | $3.91B | $4.13B | $4.15B | $4.07B | $4.02B | $3.95B | $4.26B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | −$552.2M | −$612.3M | −$194.7M | −$190.9M | −$173.0M | −$170.3M | −$154.1M | −$131.7M | −$101.1M | $134.8M | $549.6M | $503.8M |
| Retained earnings (deficit) | — | — | — | — | — | — | — | — | $101.1M | −$1.03B | −$1.45B | −$1.40B |
| Accumulated other comprehensive income | — | — | — | — | — | $9,000 | $10,000 | −$99,000 | −$523,000 | −$499,000 | −$456,999 | −$473,000 |
| Minority interest | $20.6M | $20.7M | $18.7M | $19.3M | $20.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $32.7M | $25.9M | $623.5M | $644.3M | $662.2M | $676.7M | $745.3M | $714.9M | $797.8M | $1.03B | $1.45B | $1.40B |
| Key figures | ||||||||||||
| Total debt | $3.39B | $3.36B | $3.15B | $3.03B | $3.00B | $3.11B | $3.20B | $3.23B | $3.12B | $2.95B | $2.79B | $2.88B |
| Net cash (debt) | −$3.39B | −$3.35B | −$3.14B | −$3.02B | −$2.99B | −$3.10B | −$3.20B | −$3.23B | −$3.12B | −$2.91B | −$2.79B | −$2.88B |
| Working capital | $92.9M | $34.5M | $74.6M | $147.6M | $116.8M | $222.8M | $169.4M | $174.5M | $125.7M | $203.3M | $252.6M | $256.1M |
| Tangible book value | −$1.11B | −$1.13B | −$795.8M | −$779.5M | −$759.4M | −$756.9M | −$775.9M | −$835.2M | −$765.1M | −$498.3M | −$245.8M | −$307.7M |
| Book value per share | $0.26 | $0.20 | $4.98 | $5.06 | $5.02 | $5.13 | $5.65 | $5.40 | $6.02 | $7.80 | $10.93 | $10.63 |
| Shares outstanding | 128.1M | 127.0M | 125.2M | 127.3M | 132.0M | 132.0M | 132.0M | 132.3M | 132.5M | 132.5M | 132.5M | 131.9M |
| Current ratio | 1.14 | 1.05 | 1.12 | 1.26 | 1.25 | 1.30 | 1.20 | 1.21 | 1.15 | 1.21 | 1.23 | 1.20 |
| Quick ratio | 1.00 | 0.92 | 0.93 | 0.99 | 1.01 | 0.81 | 0.94 | 0.88 | 0.88 | 0.78 | 0.93 | 0.90 |
| Debt / equity | 103.75 | 129.59 | 5.05 | 4.70 | 4.53 | 4.60 | 4.30 | 4.52 | 3.91 | 2.85 | 1.92 | 2.05 |
| Equity / assets | 0.8% | 0.6% | 14.2% | 15.0% | 15.8% | 14.7% | 15.4% | 14.6% | 16.5% | 20.6% | 27.0% | 24.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 28, 2026); data from EODHD.
NGL financial position
At the end of fiscal 2026 (March 31, 2026), NGL Energy Partners had total assets of $4.2 billion (down 9.4% from a year earlier), total liabilities of $4.2 billion and shareholders' equity of $25.9 million. It held $8.5 million in cash and short-term investments against $3.4 billion of debt, net debt of $3.3 billion. Its current ratio was 1.05. In the latest quarter (ended June 30, 2026) total assets were $4.2 billion and equity $32.7 million.
Related: NGL income statement, NGL cash flow statement, NGL key metrics. See the NGL stock overview for the latest quote and news.
NGL balance sheet FAQ
What are NGL Energy Partners's total assets?
NGL Energy Partners reported total assets of $4.2 billion at the end of fiscal 2026 (March 31, 2026), compared with $4.6 billion a year earlier.
How much debt does NGL Energy Partners have?
NGL Energy Partners had $3.4 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 129.59.
How much cash does NGL Energy Partners have?
NGL Energy Partners held $8.5 million in cash and short-term investments at the end of fiscal 2026; with $3.4 billion of debt that is net debt of $3.3 billion.
What is NGL Energy Partners's book value?
NGL Energy Partners's shareholders' equity (book value) was $25.9 million at the end of fiscal 2026, or $0.20 per share.
What is NGL Energy Partners's current ratio?
NGL Energy Partners had current assets of $774.0 million and current liabilities of $739.5 million, a current ratio of 1.05 (it can cover its short-term obligations).
How much goodwill does NGL Energy Partners have?
NGL Energy Partners carried $1.2 billion of goodwill and intangible assets, 27.7% of total assets, at the end of fiscal 2026.