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Arphra AIPlain-English read on Energy Transfer LP’s valuationEnterprise value
$134.68B
Market cap
$64.52B
Net debt
$70.34B
Total debt
$71.61B
Cash & ST inv.
$1.32B
Capital structure
· balance sheet · 2025-12-31Enterprise-value bridge
Equity 48%
Net debt 52%
Share of enterprise value funded by equity vs net debt.
Market capitalisation$64.52B
+ Total debt+$71.61B
− Cash & short-term investments−$1.32B
= Enterprise value$134.68B
Valuation
· key metrics · TTMEV multiples
EV / EBITDA9.2×
EV / Sales1.5×
EV / FCF36.9×
Net debt / EBITDA4.8×
Debt / Equity—