NGL Energy Partners LP (NGL) Key Metrics
NGL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.88B
- Enterprise value
- $5.38B
- P/E (TTM)
- — 10-yr median 11.3
- Forward P/E
- 46.1
- PEG ratio
- 8.06
- Price / sales
- 0.6 10-yr median 0.1
- Price / book
- 60.8 10-yr median 0.6
- EV / EBITDA
- 13.9 10-yr median 10.3
- Dividend yield
- —
- Beta
- 0.84
NGL key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsNGL valuation Price multiples at each fiscal year-end price.
Price / sales+187.2%
0.5
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / book+6,725.7%
60.5
FY2026 · hover or tap a bar for each year
FY2017FY2026
EV / EBITDA+131.6%
14.3
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / free cash flow−6.7%
10.8
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow yield+0.6 pts
9.2%
FY2026 · hover or tap a bar for each year
FY2017FY2026
NGL returns How much profit the business earns on the capital it uses.
Return on equity−55.9 pts
−51.3%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on invested capital0.0 pts
8.5%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on assets−4.9 pts
−4.1%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow margin+3.1 pts
4.6%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Asset turnover−0.3%
0.72
FY2026 · hover or tap a bar for each year
FY2017FY2026
NGL per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−5.4%
$24.85
FY2026 · hover or tap a bar for each year
FY2017FY2026
Earnings per share
−$1.42
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow per share+191.1%
$1.14
FY2026 · hover or tap a bar for each year
FY2017FY2026
Book value per share−96.0%
$0.20
FY2026 · hover or tap a bar for each year
FY2017FY2026
Dividends per share−61.4%
$0.89
FY2026 · hover or tap a bar for each year
FY2017FY2026
Shares outstanding−3.8%
127.0M
FY2026 · hover or tap a bar for each year
FY2017FY2026
NGL financial health Debt, liquidity and how easily interest is covered.
Debt / equity+2,743.7%
129.59
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt+$278.6M
$3.35B
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt / EBITDA+4.57
9.73
FY2026 · hover or tap a bar for each year
FY2017FY2026
Current ratio−19.6%
1.05
FY2026 · hover or tap a bar for each year
FY2017FY2026
Interest coverage+28.6%
1.5
FY2026 · hover or tap a bar for each year
FY2017FY2026
Debt / assets+20.2%
0.80
FY2026 · hover or tap a bar for each year
FY2017FY2026
NGL efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+4 days
72 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Days of inventory−1 days
10 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Days payables outstanding0 days
73 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Cash conversion cycle+3 days
10 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Capex / revenue−0.1 pts
7.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Dividends + buybacks / FCF−191.8 pts
403.4%
FY2026 · hover or tap a bar for each year
FY2017FY2026
NGL valuation history
Fiscal year-endToday10-year median
NGL returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NGL debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NGL cash returned to shareholders
DividendsBuybacksFree cash flow
NGL price vs earnings per share
Share price at year-endEPS (right axis)
NGL key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.57B | $599.3M | $761.2M | $379.9M | $288.2M | $263.1M | $331.3M | $1.73B | $1.33B | $2.53B |
| Enterprise value | $4.92B | $3.67B | $3.69B | $3.32B | $3.75B | $3.73B | $3.64B | $3.87B | $3.99B | $5.51B |
| P/E ratio | — | 15.2 | — | 7.4 | — | — | — | 4.8 | — | 18.4 |
| Price / sales | 0.5 | 0.2 | 0.2 | 0.1 | 0.0 | 0.1 | 0.0 | 0.2 | 0.1 | 0.2 |
| Price / book | 60.5 | 0.9 | 0.7 | 0.3 | 0.2 | 0.2 | 0.1 | — | 0.6 | 1.2 |
| Price / free cash flow | 10.8 | 11.6 | 14.7 | 1.3 | 4.5 | 2.2 | — | — | 316.4 | — |
| Price / operating cash flow | 4.3 | 2.0 | 2.6 | 0.9 | 1.4 | 0.9 | 0.7 | 5.1 | 9.6 | — |
| EV / sales | 1.6 | 1.1 | 0.9 | 0.6 | 0.5 | 0.7 | 0.5 | 0.4 | 0.2 | 0.4 |
| EV / EBITDA | 14.3 | 6.2 | 10.1 | 6.0 | 9.9 | 9.1 | 13.6 | 12.6 | 20.6 | 10.5 |
| EV / free cash flow | 34.0 | 71.1 | 71.4 | 11.2 | 59.1 | 31.8 | — | — | 949.1 | — |
| Earnings yield | −11.5% | 6.6% | −18.9% | 13.5% | −64.1% | −243.2% | −119.8% | 20.9% | −5.3% | 5.4% |
| Free cash flow yield | 9.2% | 8.6% | 6.8% | 78.3% | 22.0% | 44.5% | −27.7% | −6.9% | 0.3% | −15.5% |
| Dividend yield | 7.2% | 50.9% | 40.1% | 0.0% | 0.6% | 54.0% | 73.8% | 13.7% | 16.9% | 7.2% |
| Shareholder yield (dividends + buybacks) | 37.3% | 51.3% | 40.4% | 0.0% | 0.6% | 54.1% | 154.3% | 13.7% | 18.1% | 7.2% |
| Share price at fiscal year-end | $12.33 | $4.54 | $5.76 | $2.90 | $2.22 | $2.04 | $2.60 | $14.03 | $11.00 | $22.60 |
| Per share | ||||||||||
| Revenue per share | $24.85 | $26.28 | $31.43 | $43.35 | $61.21 | $40.53 | $59.52 | $70.63 | $139.74 | $116.43 |
| Earnings per share | −$1.42 | $0.30 | −$1.09 | $0.39 | −$1.42 | −$4.96 | −$3.12 | $2.93 | −$0.59 | $1.23 |
| Operating cash flow per share | $2.88 | $2.25 | $2.25 | $3.40 | $1.59 | $2.36 | $3.64 | $2.74 | $1.14 | −$0.24 |
| Free cash flow per share | $1.14 | $0.39 | $0.39 | $2.27 | $0.49 | $0.91 | −$0.72 | −$0.96 | $0.03 | −$3.49 |
| Cash per share | $0.07 | $0.10 | $0.29 | $0.04 | $0.03 | $0.04 | $0.18 | $0.15 | $0.18 | $0.11 |
| Book value per share | $0.20 | $5.13 | $7.82 | $10.34 | $10.02 | $11.49 | $17.67 | −$0.00 | $17.92 | $19.37 |
| Tangible book value per share | −$8.90 | −$5.73 | −$3.77 | −$3.06 | −$4.33 | −$4.00 | −$2.71 | −$15.54 | $0.42 | −$4.01 |
| Dividends per share | $0.89 | $2.31 | $2.31 | $0.00 | $0.01 | $1.10 | $1.92 | $1.92 | $1.86 | $1.62 |
| Capex per share | $1.74 | $1.86 | $1.86 | $1.13 | $1.10 | $1.45 | $4.36 | $3.70 | $1.11 | $3.25 |
| Debt per share | $26.43 | $23.36 | $22.44 | $22.52 | $26.70 | $26.92 | $26.11 | $17.56 | $22.18 | $26.76 |
| Shares outstanding | 127.0M | 132.0M | 132.1M | 131.0M | 129.8M | 129.0M | 127.4M | 123.0M | 121.0M | 111.9M |
| Change in shares outstanding | −3.8% | −0.1% | +0.9% | +0.9% | +0.7% | +1.2% | +3.6% | +1.7% | +8.2% | +6.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −51.3% | 4.6% | −12.0% | 3.9% | −13.3% | −34.3% | −35.3% | — | −3.3% | 7.1% |
| Return on invested capital (ROIC) | 8.5% | 8.5% | 3.1% | 5.3% | 1.4% | −5.9% | −0.1% | 2.9% | −0.3% | 5.2% |
| Return on assets (ROA) | −4.1% | 0.8% | −2.7% | 0.9% | −3.1% | −10.3% | −6.4% | 6.0% | −1.1% | 2.3% |
| Return on tangible assets | −6.0% | 1.2% | −4.1% | 1.4% | −4.4% | −16.2% | −10.2% | 9.0% | −1.8% | 3.7% |
| Free cash flow margin | 4.6% | 1.5% | 1.2% | 5.2% | 0.8% | 2.2% | −1.2% | −1.4% | 0.0% | −3.0% |
| Income quality (OCF / net income) | — | 7.56 | — | 8.66 | — | — | — | 0.94 | — | −0.20 |
| Financial health | ||||||||||
| Total debt | $3.36B | $3.08B | $2.97B | $2.95B | $3.47B | $3.47B | $3.33B | $2.16B | $2.68B | $2.99B |
| Cash & short-term investments | $8.5M | $13.5M | $38.9M | $5.4M | $3.8M | $4.8M | $22.7M | $18.6M | $22.1M | $12.3M |
| Net debt | $3.35B | $3.07B | $2.93B | $2.94B | $3.46B | $3.47B | $3.30B | $2.14B | $2.66B | $2.98B |
| Debt / equity | 129.59 | 4.56 | 2.87 | 2.18 | 2.67 | 2.34 | 1.48 | — | 1.24 | 1.38 |
| Debt / assets | 0.80 | 0.67 | 0.59 | 0.54 | 0.57 | 0.58 | 0.51 | 0.37 | 0.44 | 0.47 |
| Net debt / EBITDA | 9.73 | 5.16 | 8.03 | 5.28 | 9.17 | 8.49 | 12.38 | 6.95 | 13.71 | 5.66 |
| Current ratio | 1.05 | 1.30 | 1.21 | 1.16 | 1.21 | 1.11 | 0.92 | 1.45 | 1.99 | 1.58 |
| Quick ratio | 0.96 | 1.21 | 1.10 | 1.04 | 1.01 | 0.93 | 0.83 | 1.34 | 1.51 | 0.98 |
| Interest coverage | 1.5 | 1.2 | 0.6 | 0.9 | 0.3 | -2.0 | -0.0 | 0.8 | -0.1 | 1.7 |
| Working capital | $34.5M | $222.8M | $203.3M | $182.3M | $269.1M | $97.0M | −$71.7M | $561.5M | $1.12B | $545.6M |
| Invested capital | $3.37B | $3.75B | $3.96B | $4.30B | $4.76B | $4.95B | $5.56B | $2.14B | $4.83B | $5.15B |
| Tangible asset value | −$1.16B | −$736.2M | −$532.9M | −$436.8M | −$597.1M | −$498.6M | −$324.0M | $516.3M | $50.9M | −$385.0M |
| Net current asset value | −$3.41B | −$2.95B | −$2.84B | −$2.85B | −$3.26B | −$3.44B | −$3.45B | −$1.66B | −$1.73B | −$2.61B |
| Graham number | — | $5.86 | — | $9.55 | — | — | — | — | — | $23.11 |
| Graham net-net per share | −$28.63 | −$25.95 | −$25.64 | −$25.01 | −$29.47 | −$29.61 | −$29.35 | −$21.38 | −$24.06 | −$28.53 |
| Capital allocation | ||||||||||
| Dividends paid | $113.5M | $305.3M | $305.3M | $0 | $1.6M | $142.1M | $244.4M | $236.6M | $225.1M | $181.3M |
| Share buybacks (net) | $470.2M | $2.1M | $2.1M | $99,000 | $90,000 | $182,000 | $266.8M | $297,000 | $15.8M | $0 |
| Dividend payout ratio | — | 775.5% | — | 0.0% | — | — | — | 65.7% | — | 132.3% |
| Dividends + buybacks / free cash flow | 403.4% | 595.2% | 595.2% | 0.0% | 2.7% | 121.4% | — | — | — | — |
| Capex / revenue | 7.0% | 7.1% | 5.9% | 2.6% | 1.8% | 3.6% | 7.3% | 5.2% | 0.8% | 2.8% |
| Capex / operating cash flow | 60.5% | 82.6% | 82.6% | 33.2% | 69.2% | 61.4% | 119.8% | 135.1% | 97.0% | — |
| Capex / depreciation | 0.82 | 0.92 | 0.92 | 0.51 | 0.46 | 0.56 | 2.01 | 2.06 | 0.61 | 1.58 |
| Stock-based compensation / revenue | 0.4% | 0.0% | 0.0% | 0.0% | −0.0% | 0.1% | 0.3% | 0.5% | 0.2% | 0.4% |
| SG&A / revenue | 11.5% | 1.6% | 10.3% | 1.3% | 0.8% | 6.2% | 1.5% | 1.2% | 0.6% | 0.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 72.5 | 68.6 | 77.7 | 70.0 | 42.7 | 45.4 | 38.1 | 42.9 | 19.8 | 18.8 |
| Days of inventory on hand | 10.4 | 11.7 | 13.2 | 14.5 | 10.1 | 9.3 | 5.5 | 15.3 | 12.2 | 13.5 |
| Days payables outstanding | 72.5 | 72.7 | 82.8 | 74.0 | 43.4 | 49.3 | 38.3 | 39.2 | 16.7 | 15.9 |
| Cash conversion cycle (days) | 10.4 | 7.6 | 8.0 | 10.5 | 9.4 | 5.4 | 5.3 | 19.0 | 15.4 | 16.4 |
| Receivables turnover | 5.04 | 5.32 | 4.70 | 5.21 | 8.55 | 8.05 | 9.58 | 8.51 | 18.39 | 19.38 |
| Payables turnover | 5.03 | 5.02 | 4.41 | 4.93 | 8.42 | 7.41 | 9.54 | 9.30 | 21.87 | 22.95 |
| Inventory turnover | 35.10 | 31.29 | 27.70 | 25.20 | 36.26 | 39.40 | 66.77 | 23.84 | 29.88 | 27.00 |
| Asset turnover | 0.72 | 0.72 | 0.79 | 0.99 | 1.32 | 0.84 | 1.22 | 1.44 | 2.71 | 2.19 |
| Average receivables | $626.8M | $652.5M | $883.8M | $1.09B | $929.4M | $649.6M | $791.5M | $1.02B | $919.4M | $672.0M |
| Average payables | $478.6M | $550.4M | $783.2M | $1.01B | $882.4M | $606.4M | $720.1M | $880.8M | $760.0M | $546.7M |
| Average inventory | $68.6M | $88.3M | $124.6M | $196.9M | $204.9M | $114.1M | $102.9M | $343.7M | $556.4M | $464.6M |
| Intangibles / total assets | 27.7% | 31.1% | 30.5% | 32.2% | 30.7% | 33.6% | 40.0% | 32.4% | 34.4% | 41.4% |
Computed from NGL's annual financial statements (latest annual report filed May 28, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NGL valuation and financial ratios
NGL Energy Partners earned a return on equity of −51.3% and a return on invested capital of 8.5% in fiscal 2026. It ended the year with $3.4 billion of debt and $8.5 million in cash and short-term investments, net debt of $3.3 billion. It returned $583.6 million to shareholders: $113.5 million in dividends and $470.2 million in share buybacks, 403% of free cash flow. The share count rose 13.6% from 111.9M to 127.0M over 9 years.
See the NGL income statement, the NGL chart for price history, or the NGL stock overview for the latest quote and news.
NGL key metrics FAQ
What is NGL Energy Partners's EV/EBITDA?
NGL Energy Partners's enterprise value was 14.3 times EBITDA at the end of fiscal 2026 (enterprise value $4.9 billion, EBITDA $344.1 million); the current EV/EBITDA is 13.9.
What is NGL Energy Partners's return on equity?
NGL Energy Partners's return on equity (ROE) was −51.3% in fiscal 2026: net income of -$180.2 million on average shareholders' equity of $351.3 million.
What is NGL Energy Partners's ROIC?
NGL Energy Partners's return on invested capital was 8.5% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does NGL Energy Partners have?
NGL Energy Partners had total debt of $3.4 billion at the end of fiscal 2026, a debt-to-equity ratio of 129.59 and $3.3 billion of net debt (9.73 times EBITDA).
What is NGL Energy Partners's dividend yield?
NGL Energy Partners paid $113.5 million in dividends in fiscal 2026 ($0.89 per share), a payout ratio of —.
Does NGL Energy Partners buy back its shares?
Yes. NGL Energy Partners spent $470.2 million on net share repurchases in fiscal 2026 Shares outstanding changed −3.8% over the year, to 127.0M..
What is NGL Energy Partners's free cash flow yield?
NGL Energy Partners generated $144.7 million of free cash flow in fiscal 2026, a free cash flow yield of 9.2% on its market value at year-end ($1.6 billion).
What is NGL Energy Partners's current ratio?
NGL Energy Partners's current ratio was 1.05 at the end of fiscal 2026: current assets were 1.05 times current liabilities.