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Side-by-side financial comparison of Energy Transfer LP (ET) and United Parcel Service (UPS). Click either name above to swap in a different company.
Energy Transfer LP is the larger business by last-quarter revenue ($25.3B vs $21.2B, roughly 1.2× United Parcel Service). Energy Transfer LP runs the higher net margin — 4.9% vs 4.1%, a 0.8% gap on every dollar of revenue. On growth, Energy Transfer LP posted the faster year-over-year revenue change (29.6% vs -1.6%). Over the past eight quarters, Energy Transfer LP's revenue compounded faster (10.4% CAGR vs -1.4%).
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.
United Parcel Service, Inc. (UPS) is an American multinational shipping & receiving and supply chain management company founded in 1907. Originally known as the American Messenger Company specializing in telegraphs, UPS has expanded to become a Fortune 500 company and one of the world's largest shipping couriers. UPS today is primarily known for its ground shipping services as well as the UPS Store, a retail chain which assists UPS shipments and provides tools for small businesses.
ET vs UPS — Head-to-Head
Income Statement — Q4 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $25.3B | $21.2B |
| Net Profit | $1.2B | $864.0M |
| Gross Margin | — | — |
| Operating Margin | 8.2% | 6.0% |
| Net Margin | 4.9% | 4.1% |
| Revenue YoY | 29.6% | -1.6% |
| Net Profit YoY | -14.4% | — |
| EPS (diluted) | $0.25 | $1.02 |
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 | $21.2B | ||
| Q4 25 | $25.3B | $24.5B | ||
| Q3 25 | $20.0B | $21.4B | ||
| Q2 25 | $19.2B | $21.2B | ||
| Q1 25 | $21.0B | $21.5B | ||
| Q4 24 | $19.5B | $25.3B | ||
| Q3 24 | $20.8B | $22.2B |
| Q4 26 | $1.2B | — | ||
| Q1 26 | $2.0B | $864.0M | ||
| Q4 25 | $928.0M | $1.8B | ||
| Q3 25 | $1.0B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.2B | $1.5B |
| 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% | 6.0% | ||
| Q4 25 | 8.2% | 10.5% | ||
| Q3 25 | 10.8% | 8.4% | ||
| Q2 25 | 12.0% | 8.6% | ||
| Q1 25 | 11.9% | 7.7% | ||
| Q4 24 | 11.7% | 11.6% | ||
| Q3 24 | 10.5% | 8.9% |
| Q4 26 | 4.9% | — | ||
| Q1 26 | 7.1% | 4.1% | ||
| Q4 25 | 3.7% | 7.3% | ||
| Q3 25 | 5.1% | 6.1% | ||
| Q2 25 | 6.0% | 6.0% | ||
| Q1 25 | 6.3% | 5.5% | ||
| Q4 24 | 5.5% | 6.8% | ||
| Q3 24 | 5.7% | 6.9% |
| Q4 26 | $0.25 | — | ||
| Q1 26 | $0.35 | $1.02 | ||
| Q4 25 | — | $2.10 | ||
| Q3 25 | — | $1.55 | ||
| Q2 25 | — | $1.51 | ||
| Q1 25 | — | $1.40 | ||
| Q4 24 | — | $2.00 | ||
| Q3 24 | — | $1.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $5.8B |
| Total DebtLower is stronger | $68.3B | $23.7B |
| Stockholders' EquityBook value | $49.0B | — |
| Total Assets | $141.3B | $71.8B |
| Debt / EquityLower = less leverage | 1.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 26 | — | — | ||
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.3B | $5.9B | ||
| Q3 25 | $3.6B | $6.8B | ||
| Q2 25 | $242.0M | $6.3B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | $312.0M | $6.3B | ||
| Q3 24 | — | $6.1B |
| Q4 26 | $68.3B | — | ||
| Q1 26 | $69.3B | $23.7B | ||
| Q4 25 | $68.3B | $23.5B | ||
| Q3 25 | $63.1B | $23.9B | ||
| Q2 25 | $60.8B | $23.8B | ||
| Q1 25 | $59.8B | $19.5B | ||
| Q4 24 | $59.8B | $19.4B | ||
| Q3 24 | $59.3B | $20.3B |
| Q4 26 | $49.0B | — | ||
| Q1 26 | $49.7B | — | ||
| Q4 25 | $49.0B | $16.2B | ||
| Q3 25 | $45.3B | $15.8B | ||
| Q2 25 | $45.5B | $15.8B | ||
| Q1 25 | $46.2B | $15.7B | ||
| Q4 24 | $46.0B | $16.7B | ||
| Q3 24 | $46.2B | $16.9B |
| Q4 26 | $141.3B | — | ||
| Q1 26 | $147.5B | $71.8B | ||
| Q4 25 | $141.3B | $73.1B | ||
| Q3 25 | $129.3B | $71.4B | ||
| Q2 25 | $125.0B | $70.9B | ||
| Q1 25 | $126.4B | $68.5B | ||
| Q4 24 | $125.4B | $70.1B | ||
| Q3 24 | $124.4B | $68.3B |
| Q4 26 | 1.39× | — | ||
| Q1 26 | 1.39× | — | ||
| Q4 25 | 1.39× | 1.45× | ||
| Q3 25 | 1.39× | 1.51× | ||
| Q2 25 | 1.33× | 1.51× | ||
| Q1 25 | 1.30× | 1.25× | ||
| Q4 24 | 1.30× | 1.16× | ||
| Q3 24 | 1.28× | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ET
Segment breakdown not available.
UPS
| U.S. Domestic Package | $14.1B | 67% |
| International Package | $4.5B | 21% |
| Supply Chain Solutions | $2.5B | 12% |
