EPD on NYSE

Enterprise Products

Logo: Enterprise Products Partners L.P., Public domain, via Wikimedia Commons5

American fuel company

Enterprise Products Partners L.P. (NYSE: EPD) is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. They acquired GulfTerra in September 2004.3 From Wikipedia, CC BY-SA 4.0

$35.57 down 0.22 (0.61%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

1968Founded1

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  • TickerEPD on NYSE1
  • Industrypetroleum industry1
  • HeadquartersHouston1
  • Websiteenterpriseproducts.com
  • Incorporated inDE6
  • Business address1100 Louisiana 10Th Floor, Houston, Tx 770026
  • Filer categoryLarge accelerated filer6

Enterprise Products Partners L.P. (NYSE: EPD) is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. They acquired GulfTerra in September 2004. The company ranked No. 89 in the 2026 Fortune 500 list of the largest United States corporations by total revenue. Dan Duncan was the majority owner until his death in 2010, when his heirs, including his widow and children inherited his stake.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

13.8%Operating margin8
11.0%Net margin8
-6.4%Revenue growth, 20258

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

NGL Pipelines and Services brought in 70% of the revenue Enterprise Products broke down this way in fiscal 2025.

  1. NGL Pipelines and Services$84.4B870%up 22% from 2024
  2. Onshore Crude Oil Pipelines and Services$20.8B817%down 4% from 2024
  3. Petrochemical and Refined Products Services$10.4B89%down 9% from 2024
  4. Onshore Natural Gas Pipelines and Services$5.1B84%up 40% from 2024
Business segments by year
Business segments202320242025
NGL Pipelines and Services$63.1B$69.1B$84.4B
Onshore Crude Oil Pipelines and Services$19.3B$21.6B$20.8B
Petrochemical and Refined Products Services$9.0B$11.4B$10.4B
Onshore Natural Gas Pipelines and Services$4.3B$3.7B$5.1B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue73¢$38.6B
  • Other costs16¢$8.2B
  • Income tax0¢$23.0M
  • Profit11¢$5.8B

Out of $52.6B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks3¢$300.0M
  • Kept or used elsewhere97¢$8.3B

Out of $8.6B of cash from operations.8

Financial statements

Revenue91011128$52.6B in 2025+60% since 2019
0$20.0B$40.0B$60.0B2019: $32.8B$32.8B20192020: $27.2B$27.2B2020−17%2021: $40.8B$40.8B2021+50%2022: $58.2B$58.2B2022+43%2023: $49.7B$49.7B2023−15%2024: $56.2B$56.2B2024+13%2025: $52.6B$52.6B2025−6%
Operating income91011128$7.3B in 2025+20% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $6.1B$6.1B20192020: $5.0B$5.0B2020−17%2021: $6.1B$6.1B2021+21%2022: $6.9B$6.9B2022+13%2023: $6.9B$6.9B2023+0%2024: $7.3B$7.3B2024+6%2025: $7.3B$7.3B2025−1%
Net income91011128$5.8B in 2025+27% since 2019
0$2.0B$4.0B$6.0B2019: $4.6B$4.6B20192020: $3.8B$3.8B2020−18%2021: $4.6B$4.6B2021+23%2022: $5.5B$5.5B2022+18%2023: $5.5B$5.5B2023+1%2024: $5.9B$5.9B2024+7%2025: $5.8B$5.8B2025−1%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Revenues$52.6B$56.2B$49.7B
Total operating costs and expenses$45.4B$49.0B$43.0B
Total general and administrative costs$251.0M$244.0M$231.0M
Total costs and expenses$45.7B$49.3B$43.2B
Equity in income of unconsolidated affiliates$361.0M$408.0M$462.0M
Operating income$7.3B$7.3B$6.9B
Interest expense-$1.4B-$1.4B-$1.3B
Interest income$30.0M$47.0M$27.0M
Other, net$4.0M$2.0M$14.0M
Total other expense, net-$1.4B-$1.3B-$1.2B
Income before income taxes$5.9B$6.0B$5.7B
Provision for income taxes (see Note 16)-$23.0M-$65.0M-$44.0M
Net income$5.9B$6.0B$5.7B
Net income attributable to noncontrolling interests (see Note 8)-$62.0M-$69.0M-$125.0M
Net income attributable to preferred units (see Note 8)-$4.0M-$4.0M-$3.0M
Net income attributable to common unitholders$5.8B$5.9B$5.5B
Basic earnings per common unit (in dollars per unit)$3$3$3
Diluted earnings per common unit (in dollars per unit)$3$3$3

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The story

Founded by Dan Duncan in 1968.1

In 2005, Ralph S. Cunningham became CEO of Enterprise Products Partners.

On July 23, 2007, Cunningham replaced Michael A. Creel as president and CEO of the affiliated Enterprise GP Holdings LP (NYSE: EPE). Cunningham had earlier been named interim president and CEO, and resigned from the Enterprise Products CEO position effective July 31, 2007. Creel then became president and CEO of the company's general partner Enterprise Products Partners L.P.

Cunningham also became a director of both Enterprise GP Holdings and affiliated Duncan Energy Partners LP (NYSE: EPL).

Enterprise Products acquired Enterprise GP Holdings in 2010.

A. J. Teague was appointed CEO in 2016 and in 2020 W. Randall Fowler was appointed as joint CEO. A.J. Teague's retirement date is scheduled for January 4, 2027.

From Wikipedia’s article on Enterprise Products, shared under CC BY-SA 4.0.7

Leadership

Who has led Enterprise Products, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (14)

Former names

  • ENTERPRISE PRODUCTS PARTNERS L PJul 21, 1998 to Jul 9, 20196
  • ENTERPRISES PRODUCTS PARTNERS L PMay 13, 1998 to May 13, 19986

Timeline

  1. 1968Founded Founded1

Recent filings

  1. Oct 2, 2026SCHEDULE 13D/A
  2. Sep 23, 2026SD
  3. Sep 1, 2026EFFECT
  4. Aug 21, 2026S-3
  5. Aug 7, 202610-Q
  6. Jul 30, 20268-K
  7. Jul 1, 20268-K
  8. May 7, 202610-Q
  9. Apr 28, 20268-K
  10. Mar 27, 20268-K
  11. Mar 23, 20264
  12. Feb 27, 202610-K
  13. Feb 18, 20264
  14. Feb 18, 20264
  15. Feb 18, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2