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NGL Energy Partners LP key statistics and ratios

In fiscal 2026, NGL Energy Partners LP had an operating margin of 3.0% and a current ratio of 1.05. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2012Mar 20122013Mar 20132014Mar 20142015Mar 20152016Mar 20162017Mar 20172018Mar 20182019Mar 20192020Mar 20202021Mar 20212022Mar 20222023Mar 20232024Mar 20242025Mar 20252026Mar 2026LTMJun 2026
Gross margin7.1%8.6%5.8%5.0%7.7%3.8%63.0%66.8%12.9%14.0%10.2%17.4%23.3%27.7%30.9%29.5%
Operating margin1.1%2.0%1.1%0.6%−0.9%1.6%1.1%0.5%−0.0%−7.5%1.0%4.3%3.9%9.5%3.0%4.0%
Net margin0.6%—0.5%0.2%−1.7%1.1%−0.4%1.5%−5.2%−12.2%−2.3%0.9%−3.5%1.1%−4.5%−3.8%
Free-cash-flow margin−8.4%−4.4%−3.2%−4.2%−3.7%−2.9%0.0%−0.5%−1.2%2.2%0.8%5.2%5.4%1.5%4.6%2.9%
Return on assets1.0%—1.5%0.7%−3.3%2.3%−1.1%6.0%−6.4%−10.3%−3.1%0.9%−2.7%0.8%−3.2%−3.2%
Asset turnover1.752.913.013.111.922.142.713.981.220.841.320.990.790.720.720.84
Current ratio1.371.161.321.471.461.581.991.450.921.111.211.161.211.301.051.14
Interest cover (operating income ÷ interest)2.0x2.6x1.8x1.0xn/m1.4x0.9x0.8xn/mn/m0.3x0.9x0.6x1.2x0.4x0.6x
Effective tax rate7.1%3.7%1.9%−7.8%—2.0%—————2.4%—−8.1%——
Capital spending as % of revenue15.3%7.4%4.0%5.8%6.7%2.7%0.8%1.9%7.3%3.6%1.8%2.6%3.7%7.1%7.0%8.7%
Free cash flow ÷ net income<−999%—−627.1%<−999%—−270.0%—−32.9%———578.8%—131.2%——
Dividends and buybacks ÷ free cash flow——————376.1%——0.2%0.1%0.0%0.0%4.1%32.9%38.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 4 checks passed · June 30, 2026
What it owns · $4.2bn
Short-term assets $738mLonger-term assets $3.4bn
What it owes, and who funded it · $645m
Short-term liabilities $645m
  • Short-term assets cover short-term liabilities $738m of assets due within a year against $645m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $5m of cash against $3.3bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $410m of operating cash flow against $3.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $143m against $259m of interest.

From NGL Energy Partners LP's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

9 /100

Weak moat

How hard NGL Energy Partners's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -1.7% of total assets over 10 years.

  • Pricing power 1 / 20

    Gross margin has been a median 23.1%, moving by 15.0 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 2.1%; its worst year was -7.7%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 1.1% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: NGL vs WESNGL vs PBANGL vs SOBO

More: Oil & Gas Storage & Transportation stocks compared, Energy sector, rankings of US companies

Figures from NGL Energy Partners LP's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to NGL Energy Partners LP.