Energy Transfer LP (ET) — Capital Reinvestment Ratio
Energy Transfer LP (ET) has a Capital Reinvestment Ratio of 1.12x as of December 2025, meaning it reinvests 1% of its operating cash flow ($1.90 Billion) in capital expenditures ($2.12 Billion). Check Energy Transfer LP tangible book value ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Energy Transfer LP Capital Reinvestment Ratio (2004–2025)
This chart tracks Energy Transfer LP's Capital Reinvestment Ratio across 22 annual periods. For the full cash flow conversion analysis, see ET cash generation efficiency.
Annual Capital Reinvestment Ratio for Energy Transfer LP (2004–2025)
Year-by-year Capital Reinvestment Ratio for Energy Transfer LP from 2004 to 2025. See cash generation quality of Energy Transfer LP to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.62x | $10.15 Billion | $6.30 Billion | ▲ +71.6% |
| 2024 | 0.36x | $11.51 Billion | $4.16 Billion | ▲ +10.3% |
| 2023 | 0.33x | $9.55 Billion | $3.13 Billion | ▼ -12.2% |
| 2022 | 0.37x | $9.05 Billion | $3.38 Billion | ▲ +47.8% |
| 2021 | 0.25x | $11.16 Billion | $2.82 Billion | ▼ -63.7% |
| 2020 | 0.70x | $7.36 Billion | $5.13 Billion | ▼ -6.4% |
| 2019 | 0.74x | $8.00 Billion | $5.96 Billion | ▼ -24.5% |
| 2018 | 0.99x | $7.51 Billion | $7.41 Billion | ▼ -48.2% |
| 2017 | 1.91x | $4.43 Billion | $8.44 Billion | ▼ -21.7% |
| 2016 | 2.44x | $3.32 Billion | $8.09 Billion | ▼ -22.7% |
| 2015 | 3.15x | $2.98 Billion | $9.39 Billion | ▲ +85.9% |
| 2014 | 1.69x | $3.17 Billion | $5.38 Billion | ▲ +17.0% |
| 2013 | 1.45x | $2.42 Billion | $3.50 Billion | ▼ -52.2% |
| 2012 | 3.03x | $1.08 Billion | $3.27 Billion | ▲ +131.0% |
| 2011 | 1.31x | $1.38 Billion | $1.81 Billion | ▼ -5.3% |
| 2010 | 1.39x | $1.09 Billion | $1.51 Billion | ▲ +34.1% |
| 2009 | 1.03x | $723.46 Million | $748.62 Million | ▼ -42.4% |
| 2008 | 1.80x | $1.14 Billion | $2.05 Billion | ▲ +23.6% |
| 2007 | 1.45x | $754.50 Million | $1.10 Billion | ▼ -33.6% |
| 2006 | 2.19x | $310.78 Million | $680.16 Million | ▼ -57.5% |
| 2005 | 5.15x | $38.13 Million | $196.46 Million | ▲ +473.5% |
| 2004 | 0.90x | $122.10 Million | $109.69 Million | — |