EPD financial statements

The full income statement, balance sheet, and cash-flow statement for Enterprise Products Partners L.P. (EPD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-03 2.17B2024-06 2.17B2024-09 2.17B2024-12 2.17B2025-03 2.17B2025-06 2.17B2025-09 2.16B2025-12 2.16B2026-03 2.16B-0.4% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	52.6B YoY-6.4%	56.2B YoY+13.1%	49.7B YoY-14.6%	58.2B YoY+42.6%	40.8B YoY+50.0%
Lease income	16.0M YoY+6.7%	15.0M YoY-6.3%	16.0M YoY+14.3%	14.0M YoY+16.7%	12.0M YoY+9.1%
Cost of revenue	38.6B YoY-9.4%	42.6B YoY+15.0%	37.0B YoY-19.2%	45.8B YoY+53.4%	29.9B YoY+78.7%
Selling, general & administrative	251M YoY+2.9%	244M YoY+5.6%	231M YoY-4.1%	241M YoY+15.3%	209M YoY-5.0%
General & administrative	251M YoY+2.9%	244M YoY+5.6%	231M YoY-4.1%	241M YoY+15.3%	209M YoY-5.0%
Amortization of intangibles	216M YoY+4.3%	207M YoY+3.0%	201M YoY+13.6%	177M YoY+17.2%	151M YoY+5.6%
Operating income	7.27B YoY-1.0%	7.34B YoY+5.9%	6.93B YoY+0.3%	6.91B YoY+13.2%	6.10B YoY+21.2%
Interest expense	1.40B YoY+3.6%	1.35B YoY+6.5%	1.27B YoY+2.0%	1.24B YoY-3.0%	1.28B YoY-0.3%
Other non-operating income	4.00M YoY+100.0%	2.00M YoY-85.7%	14.0M YoY-39.1%	23.0M	0.00 YoY-100.0%
Equity-method income	361M YoY-11.5%	408M YoY-11.7%	462M YoY-0.4%	464M YoY-20.4%	583M YoY+36.9%
Pre-tax income	5.90B YoY-2.3%	6.04B YoY+5.9%	5.70B YoY+0.1%	5.70B YoY+18.1%	4.83B YoY+28.3%
Income tax	23.0M YoY-64.6%	65.0M YoY+47.7%	44.0M YoY-46.3%	82.0M YoY+17.1%	70.0M YoY+156.5%
	5.81B YoY-1.5%	5.90B YoY+6.7%	5.53B YoY+0.8%	5.49B YoY+18.4%	4.63B YoY+22.8%
Net income to common	5.75B YoY-1.5%	5.84B YoY+6.6%	5.48B YoY+0.7%	5.44B YoY+18.4%	4.60B YoY+22.8%
	2.19B YoY-0.2%	2.19B YoY-0.1%	2.19B YoY-0.2%	2.20B YoY-0.2%	2.20B YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	13.4B YoY-11.7%	15.1B YoY+23.6%	12.2B YoY+15.6%	10.6B YoY-20.1%	13.3B YoY+33.9%
Cash & equivalents	969M YoY+66.2%	583M YoY+223.9%	180M YoY+136.8%	76.0M YoY-97.3%	2.82B YoY+166.1%
Accounts receivable	—	—	—	6.96B YoY-0.0%	6.97B YoY+45.1%
Inventory	3.88B YoY-1.8%	3.96B YoY+18.0%	3.35B YoY+31.2%	2.55B YoY-4.7%	2.68B YoY-18.8%
Prepaid expenses	1.30B YoY+130.0%	566M YoY+23.9%	457M YoY+16.0%	394M YoY-1.3%	399M YoY-2.9%
	77.9B YoY+1.0%	77.2B YoY+8.7%	71.0B YoY+4.2%	68.1B YoY+0.9%	67.5B YoY+5.3%
Property, plant & equipment	51.4B YoY+4.7%	49.1B YoY+7.1%	45.8B YoY+3.2%	44.4B YoY+5.5%	42.1B YoY+0.4%
Operating lease right-of-use	437M YoY+0.5%	435M YoY+19.5%	364M YoY-0.3%	365M YoY+5.6%	346M YoY+4.1%
Goodwill	5.71B YoY+0.0%	5.71B YoY+1.9%	5.61B YoY+0.0%	5.61B YoY+2.9%	5.45B YoY+0.0%
Intangible assets	4.16B YoY+3.8%	4.00B YoY+6.2%	3.77B YoY-4.9%	3.96B YoY+25.8%	3.15B YoY-4.8%
Other non-current assets	1.13B YoY+13.0%	997M YoY-18.4%	1.22B YoY+3.2%	1.18B YoY+3.9%	1.14B YoY+3.9%
	12.8B YoY-15.5%	15.2B YoY+15.6%	13.1B YoY+7.1%	12.3B YoY+5.5%	11.6B YoY+29.3%
Accounts payable	—	—	—	743M YoY+17.6%	632M YoY-10.3%
Deferred revenue	157M YoY-6.5%	168M	—	—	—
Short-term & current debt	1.63B YoY+41.3%	1.15B YoY-11.5%	1.30B YoY-25.5%	1.74B YoY+24.6%	1.40B YoY+5.7%
Current lease liability	94.0M YoY-10.5%	105M YoY+40.0%	75.0M YoY+25.0%	60.0M YoY+65.3%	36.3M YoY+30.6%
Other current liabilities	873M YoY+6.7%	818M YoY+21.2%	675M YoY-13.2%	778M YoY+24.3%	626M YoY+2.8%
Finance lease liability (current)	3.00M YoY+200.0%	1.00M	—	—	—
Long-term debt	32.8B YoY+6.6%	30.7B YoY+12.0%	27.4B YoY+3.4%	26.6B YoY-5.6%	28.1B YoY-1.4%
Deferred revenue (non-current)	261M YoY-8.1%	284M YoY-12.9%	326M YoY+1.9%	320M YoY+28.0%	250M YoY+26.1%
Non-current lease liability	377M YoY+3.0%	366M YoY+13.3%	323M YoY-5.3%	341M YoY+0.6%	339M YoY+5.7%
Operating lease liability (total)	471M YoY+0.0%	471M YoY+18.3%	398M YoY-0.7%	401M YoY+6.9%	375M YoY+7.6%
Finance lease liability (total)	16.0M YoY+300.0%	4.00M	—	—	—
Finance lease liability	13.0M YoY+333.3%	3.00M	—	—	—
Deferred tax liabilities	702M YoY+7.0%	656M YoY+7.4%	611M YoY+1.8%	600M YoY+15.8%	518M YoY+11.5%
Other non-current liabilities	984M YoY+3.6%	950M YoY-3.5%	984M YoY+4.6%	941M YoY+23.8%	760M YoY+10.7%
Accumulated other comprehensive income	336M YoY+42.4%	236M YoY-23.1%	307M YoY-15.9%	365M YoY+27.6%	286M YoY+273.3%
Total liabilities & equity	77.9B YoY+1.0%	77.2B YoY+8.7%	71.0B YoY+4.2%	68.1B YoY+0.9%	67.5B YoY+5.3%
	2.16B YoY-0.2%	2.17B YoY-0.1%	2.17B YoY-0.1%	2.17B YoY-0.3%	2.18B YoY-0.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	8.59B YoY+5.8%	8.12B YoY+7.2%	7.57B YoY-5.8%	8.04B YoY-5.6%	8.51B YoY+44.5%
Depreciation & amortization	2.30B YoY+5.6%	2.18B YoY+5.8%	2.06B YoY+5.4%	1.96B YoY+5.4%	1.86B YoY-10.4%
Intangible amortization	216M YoY+4.3%	207M YoY+3.0%	201M YoY+13.6%	177M YoY+17.2%	151M YoY+5.6%
Deferred income taxes	46.0M YoY+2.2%	45.0M YoY+275.0%	12.0M YoY-80.0%	60.0M YoY+50.0%	40.0M YoY+127.0%
Change in receivables	-2.75B YoY-289.1%	1.45B YoY+79.4%	810M YoY+850.0%	-108M YoY-104.5%	2.41B YoY+902.3%
Change in inventory	-122M YoY-120.4%	598M YoY-16.2%	714M YoY+645.0%	-131M YoY+84.9%	-867M YoY-161.1%
Other operating activities	0.00 YoY-100.0%	1.00M YoY+0.0%	1.00M	0.00 YoY+100.0%	-1.00M YoY-150.0%
	-5.49B YoY-1.1%	-5.43B YoY-69.9%	-3.20B YoY+35.5%	-4.95B YoY-132.0%	-2.13B YoY+31.6%
Capital expenditure	5.62B YoY+23.7%	4.54B YoY+39.1%	3.27B YoY+66.3%	1.96B YoY-11.7%	2.22B YoY-32.4%
Free cash flow	2.96B YoY-17.0%	3.57B YoY-17.0%	4.30B YoY-29.2%	6.08B YoY-3.4%	6.29B YoY+141.6%
Acquisitions	0.00 YoY-100.0%	949M	0.00 YoY-100.0%	3.20B	0.00
Other investing activities	25.0M YoY-19.4%	31.0M YoY+138.5%	13.0M YoY+160.0%	5.00M YoY-75.0%	20.0M YoY+11.1%
	-2.69B YoY-24.2%	-2.16B YoY+49.2%	-4.26B YoY+27.1%	-5.84B YoY-27.8%	-4.57B YoY-126.1%
Long-term debt issued	88.3B YoY+64.4%	53.7B YoY-40.2%	89.9B YoY-6.5%	96.1B YoY+761.5%	11.2B YoY+67.3%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	300M YoY+37.0%	219M YoY+16.5%	188M YoY-24.8%	250M YoY+16.8%	214M YoY+15.1%
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	-59.0M YoY+10.6%	-66.0M YoY-8.2%	-61.0M YoY-15.1%	-53.0M YoY-29.3%	-41.0M YoY-13.9%
Net change in cash	407M YoY-21.4%	518M YoY+354.4%	114M YoY+104.1%	-2.76B YoY-252.7%	1.81B YoY+141.6%
Interest paid	1.35B YoY+7.7%	1.25B YoY+2.2%	1.23B YoY-0.3%	1.23B YoY+0.1%	1.23B YoY+2.5%
Income taxes paid	12.0M YoY-40.0%	20.0M YoY-16.7%	24.0M	0.00 YoY-100.0%	18.0M YoY-28.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	69.3B YoY+2.0%	67.9B YoY+18.7%	57.2B YoY+9.1%	52.5B YoY+9.8%	47.8B YoY+11.8%
P/E	11.9× YoY+3.6%	11.5× YoY+8.3%	10.6× YoY+3.3%	10.3× YoY-0.1%	10.3× YoY-8.9%
P/S	1.3× YoY+9.1%	1.2× YoY+2.9%	1.2× YoY+25.1%	0.9× YoY-19.9%	1.2× YoY-25.5%
P/FCF	23.4× YoY+22.9%	19.0× YoY+63.3%	11.6× YoY+29.2%	9.0× YoY+18.7%	7.6× YoY-53.7%
	8.4% YoY-3.5%	8.7% YoY-7.7%	9.4% YoY-3.2%	9.7% YoY+0.1%	9.7% YoY+9.8%
	4.3% YoY-18.6%	5.3% YoY-38.8%	8.6% YoY-22.6%	11.1% YoY-15.7%	13.2% YoY+116.1%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: EPD's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EPD filings on SEC EDGAR → Not investment advice.