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Side-by-side financial comparison of Energy Transfer LP (ET) and Cheniere Energy, Inc. (LNG). Click either name above to swap in a different company.
Energy Transfer LP is the larger business by last-quarter revenue ($25.3B vs $5.9B, roughly 4.3× Cheniere Energy, Inc.). Energy Transfer LP runs the higher net margin — 4.9% vs -58.1%, a 63.0% gap on every dollar of revenue. Over the past eight quarters, Cheniere Energy, Inc.'s revenue compounded faster (36.6% CAGR vs 10.4%).
Energy Transfer LP is an American company engaged in the pipeline transportation, storage, and terminaling for natural gas, crude oil, natural gas liquids (NGLs), refined products and liquid natural gas, as well as NGL fractionation. It is a publicly traded limited partnership organized under Delaware state laws and headquartered in Dallas, Texas. It was founded in 1996 by Ray Davis and Kelcy Warren, who remains Executive Chairman.
Cheniere Energy, Inc. is an American liquefied natural gas (LNG) company headquartered in Houston, Texas.
ET vs LNG — Head-to-Head
Income Statement — Q4 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $25.3B | $5.9B |
| Net Profit | $1.2B | $-3.4B |
| Gross Margin | — | — |
| Operating Margin | 8.2% | — |
| Net Margin | 4.9% | -58.1% |
| Revenue YoY | 29.6% | — |
| Net Profit YoY | -14.4% | -1092.1% |
| EPS (diluted) | $0.25 | $-16.65 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 26 | $25.3B | — | ||
| Q1 26 | $27.8B | $5.9B | ||
| Q4 25 | $25.3B | $5.4B | ||
| Q3 25 | $20.0B | $4.3B | ||
| Q2 25 | $19.2B | $4.5B | ||
| Q1 25 | $21.0B | $5.3B | ||
| Q4 24 | $19.5B | $4.5B | ||
| Q3 24 | $20.8B | $3.7B |
| Q4 26 | $1.2B | — | ||
| Q1 26 | $2.0B | $-3.4B | ||
| Q4 25 | $928.0M | $2.3B | ||
| Q3 25 | $1.0B | $1.0B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $1.3B | $353.0M | ||
| Q4 24 | $1.1B | $977.0M | ||
| Q3 24 | $1.2B | $893.0M |
| Q4 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 23.3% | — | ||
| Q3 25 | 27.0% | — | ||
| Q2 25 | 27.5% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 27.6% | — | ||
| Q3 24 | 24.8% | — |
| Q4 26 | 8.2% | — | ||
| Q1 26 | 10.7% | — | ||
| Q4 25 | 8.2% | 70.8% | ||
| Q3 25 | 10.8% | 42.3% | ||
| Q2 25 | 12.0% | 56.1% | ||
| Q1 25 | 11.9% | 18.2% | ||
| Q4 24 | 11.7% | 38.9% | ||
| Q3 24 | 10.5% | 44.7% |
| Q4 26 | 4.9% | — | ||
| Q1 26 | 7.1% | -58.1% | ||
| Q4 25 | 3.7% | 42.8% | ||
| Q3 25 | 5.1% | 24.4% | ||
| Q2 25 | 6.0% | 36.1% | ||
| Q1 25 | 6.3% | 6.7% | ||
| Q4 24 | 5.5% | 21.9% | ||
| Q3 24 | 5.7% | 24.2% |
| Q4 26 | $0.25 | — | ||
| Q1 26 | $0.35 | $-16.65 | ||
| Q4 25 | — | $10.51 | ||
| Q3 25 | — | $4.75 | ||
| Q2 25 | — | $7.30 | ||
| Q1 25 | — | $1.57 | ||
| Q4 24 | — | $4.30 | ||
| Q3 24 | — | $3.93 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.3B |
| Total DebtLower is stronger | $68.3B | — |
| Stockholders' EquityBook value | $49.0B | $8.7B |
| Total Assets | $141.3B | $46.8B |
| Debt / EquityLower = less leverage | 1.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 26 | — | — | ||
| Q1 26 | — | $1.3B | ||
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $3.6B | $1.1B | ||
| Q2 25 | $242.0M | $1.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $312.0M | $2.6B | ||
| Q3 24 | — | $2.7B |
| Q4 26 | $68.3B | — | ||
| Q1 26 | $69.3B | — | ||
| Q4 25 | $68.3B | $22.5B | ||
| Q3 25 | $63.1B | $22.0B | ||
| Q2 25 | $60.8B | $22.0B | ||
| Q1 25 | $59.8B | $22.5B | ||
| Q4 24 | $59.8B | $22.6B | ||
| Q3 24 | $59.3B | $22.5B |
| Q4 26 | $49.0B | — | ||
| Q1 26 | $49.7B | $8.7B | ||
| Q4 25 | $49.0B | $7.9B | ||
| Q3 25 | $45.3B | $6.7B | ||
| Q2 25 | $45.5B | $6.7B | ||
| Q1 25 | $46.2B | $5.6B | ||
| Q4 24 | $46.0B | $5.7B | ||
| Q3 24 | $46.2B | $5.1B |
| Q4 26 | $141.3B | — | ||
| Q1 26 | $147.5B | $46.8B | ||
| Q4 25 | $141.3B | $47.9B | ||
| Q3 25 | $129.3B | $45.1B | ||
| Q2 25 | $125.0B | $44.6B | ||
| Q1 25 | $126.4B | $43.5B | ||
| Q4 24 | $125.4B | $43.9B | ||
| Q3 24 | $124.4B | $43.1B |
| Q4 26 | 1.39× | — | ||
| Q1 26 | 1.39× | — | ||
| Q4 25 | 1.39× | 2.84× | ||
| Q3 25 | 1.39× | 3.25× | ||
| Q2 25 | 1.33× | 3.28× | ||
| Q1 25 | 1.30× | 4.03× | ||
| Q4 24 | 1.30× | 3.96× | ||
| Q3 24 | 1.28× | 4.42× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ET
Segment breakdown not available.
LNG
| LNG revenues | $5.7B | 97% |
| Other revenues | $112.0M | 2% |
| Regasification revenues | $34.0M | 1% |
