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Side-by-side financial comparison of Energy Transfer LP (ET) and NATIONAL GRID PLC (NGG). Click either name above to swap in a different company.

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.

National Grid plc is a British multinational electricity and gas utility company headquartered in London, England. Its principal activities are in the United Kingdom, where it owns and operates electricity and natural gas transmission networks, and in the Northeastern United States, where as well as operating transmission networks, the company produces and supplies electricity and gas, providing both to customers in New York and Massachusetts.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ET
ET
NGG
NGG
Q4 25
$25.3B
Q3 25
$20.0B
Q2 25
$19.2B
Q1 25
$21.0B
Q4 24
$19.5B
Q3 24
$20.8B
Q2 24
$20.7B
Q1 24
$21.6B
Net Profit
ET
ET
NGG
NGG
Q4 25
$928.0M
Q3 25
$1.0B
Q2 25
$1.2B
Q1 25
$1.3B
Q4 24
$1.1B
Q3 24
$1.2B
Q2 24
$1.3B
Q1 24
$1.2B
Gross Margin
ET
ET
NGG
NGG
Q4 25
23.3%
Q3 25
27.0%
Q2 25
27.5%
Q1 25
25.9%
Q4 24
27.6%
Q3 24
24.8%
Q2 24
24.7%
Q1 24
23.3%
Operating Margin
ET
ET
NGG
NGG
Q4 25
8.2%
Q3 25
10.8%
Q2 25
12.0%
Q1 25
11.9%
Q4 24
11.7%
Q3 24
10.5%
Q2 24
11.1%
Q1 24
11.0%
Net Margin
ET
ET
NGG
NGG
Q4 25
3.7%
Q3 25
5.1%
Q2 25
6.0%
Q1 25
6.3%
Q4 24
5.5%
Q3 24
5.7%
Q2 24
6.3%
Q1 24
5.7%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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