Energy Transfer LP (ET) — Cash Flow Reinvestment Rate
Latest as of December 2025:
1.12x
Energy Transfer LP (ET) has a Cash Flow Reinvestment Rate of 1.12x as of December 2025, reinvesting $2.12 Billion (capex $2.12 Billion ) from operating cash flow of $1.90 Billion. Check ET cash to earnings ratio to evaluate the quality of earnings relative to operating cash generation.
Reinvestment Rate
1.12x
(Capex + Investments) / Operating CF
Total Reinvested
$2.12 Billion
Capex + Investments
Operating Cash Flow
$1.90 Billion
USD
Capital Expenditures
$2.12 Billion
USD
Energy Transfer LP Cash Flow Reinvestment Rate (2004–2025)
Historical reinvestment intensity for Energy Transfer LP across 22 annual periods. Explore ET long-term asset investment ratio to see how much of total assets are deployed in long-term investments.
Annual Cash Flow Reinvestment Rate for Energy Transfer LP (2004–2025)
Year-by-year capital reinvestment analysis for Energy Transfer LP. For live market cap and broader valuation context, see ET market cap.
| Year | Reinvestment Rate | Total Reinvested (USD) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.62x | $6.30 Billion | $10.15 Billion | $6.30 Billion | ▼ -29.0% |
| 2024 | 0.88x | $10.07 Billion | $11.51 Billion | $4.16 Billion | ▲ +12.4% |
| 2023 | 0.78x | $7.44 Billion | $9.55 Billion | $3.13 Billion | ▲ +88.2% |
| 2022 | 0.41x | $3.75 Billion | $9.05 Billion | $3.38 Billion | ▲ +54.7% |
| 2021 | 0.27x | $2.98 Billion | $11.16 Billion | $2.82 Billion | ▼ -62.7% |
| 2020 | 0.72x | $5.28 Billion | $7.36 Billion | $5.13 Billion | ▼ -10.1% |
| 2019 | 0.80x | $6.38 Billion | $8.00 Billion | $5.96 Billion | ▼ -19.4% |
| 2018 | 0.99x | $7.43 Billion | $7.51 Billion | $7.41 Billion | ▼ -49.7% |
| 2017 | 1.97x | $8.71 Billion | $4.43 Billion | $8.44 Billion | ▼ -19.9% |
| 2016 | 2.46x | $8.16 Billion | $3.32 Billion | $8.09 Billion | ▼ -22.4% |
| 2015 | 3.17x | $9.43 Billion | $2.98 Billion | $9.39 Billion | ▲ +71.5% |
| 2014 | 1.85x | $5.86 Billion | $3.17 Billion | $5.38 Billion | ▲ +16.0% |
| 2013 | 1.59x | $3.85 Billion | $2.42 Billion | $3.50 Billion | ▼ -63.3% |
| 2012 | 4.34x | $4.68 Billion | $1.08 Billion | $3.27 Billion | ▲ +230.3% |
| 2011 | 1.31x | $1.81 Billion | $1.38 Billion | $1.81 Billion | ▼ -5.3% |
| 2010 | 1.39x | $1.51 Billion | $1.09 Billion | $1.51 Billion | ▲ +34.1% |
| 2009 | 1.03x | $748.62 Million | $723.46 Million | $748.62 Million | ▼ -42.4% |
| 2008 | 1.80x | $2.05 Billion | $1.14 Billion | $2.05 Billion | ▲ +23.6% |
| 2007 | 1.45x | $1.10 Billion | $754.50 Million | $1.10 Billion | ▼ -33.6% |
| 2006 | 2.19x | $680.16 Million | $310.78 Million | $680.16 Million | ▼ -57.5% |
| 2005 | 5.15x | $196.46 Million | $38.13 Million | $196.46 Million | ▲ +473.5% |
| 2004 | 0.90x | $109.69 Million | $122.10 Million | $109.69 Million | — |
Cash Flow Reinvestment Rate = (ABS(Capex) + ABS(Investments)) / Operating Cash Flow