Last Price$19.0(1.3%)
Market Cap$65.6B
DCF value
$80.5
Undervalued (DCF value)
323.2%
Discount Rate
6.3%
Long-Term Growth Rate
1.5%
Stock quality
6/10
Good
ET DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Dec'20 Actual | Dec'21 Actual | Dec'22 Actual | Dec'23 Actual | Dec'24 Actual | Dec'25 Estimate | Dec'26 Estimate | Dec'27 Estimate | Dec'28 Estimate | Dec'29 Estimate | Dec'30 Estimate | Dec'31 Estimate | Dec'32 Estimate | Dec'33 Estimate | Dec'34 Estimate | Dec'35 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 38,954.0 (28.1%) | 67,417.0 73.1% | 89,876.0 33.3% | 78,586.0 (12.6%) | 82,671.0 5.2% | 89,380.6 8.1% | 91,844.5 2.8% | 98,599.2 7.4% | 105,129.1 6.6% | 111,322.1 5.9% | 117,065.2 5.2% | 122,248.0 4.4% | 126,765.6 3.7% | 130,522.4 3.0% | 133,435.4 2.2% | 135,437.0 1.5% |
% margin | 2,313.0 5.9% | 5,319.0 7.9% | 4,307.0 4.8% | 8,295.0 10.6% | 9,138.0 11.1% | 10,925.3 12.2% | 11,226.5 12.2% | 12,052.2 12.2% | 12,850.3 12.2% | 13,607.3 12.2% | 14,309.3 12.2% | 14,942.9 12.2% | 15,495.1 12.2% | 15,954.3 12.2% | 16,310.3 12.2% | 16,555.0 12.2% |
NOPAT % effective tax rate | 858.9 2.2% | 5,176.6 7.7% | 4,162.3 4.6% | 7,845.9 10.0% | 8,442.3 10.2% | 10,093.6 11.3% | 10,371.8 11.3% | 11,134.6 11.3% | 11,872.0 11.3% | 12,571.4 11.3% | 13,219.9 11.3% | 13,805.2 11.3% | 14,315.4 11.3% | 14,739.6 11.3% | 15,068.6 11.3% | 15,294.6 11.3% |
% of revenue | 3,678.0 9.4% | 3,817.0 5.7% | 4,164.0 4.6% | 4,385.0 5.6% | 5,165.0 6.2% | 4,904.2 5.5% | 5,039.4 5.5% | 5,410.0 5.5% | 5,768.3 5.5% | 6,108.1 5.5% | 6,423.2 5.5% | 6,707.6 5.5% | 6,955.4 5.5% | 7,161.6 5.5% | 7,321.4 5.5% | 7,431.2 5.5% |
% of revenue | (5,130.0) (13.2%) | (2,822.0) (4.2%) | (3,381.0) (3.8%) | (3,134.0) (4.0%) | (4,164.0) (5.0%) | (3,809.6) (4.3%) | (3,914.6) (4.3%) | (4,202.5) (4.3%) | (4,480.8) (4.3%) | (4,744.8) (4.3%) | (4,989.6) (4.3%) | (5,210.5) (4.3%) | (5,403.0) (4.3%) | (5,563.2) (4.3%) | (5,687.3) (4.3%) | (5,772.6) (4.3%) |
% of revenue | 47.0 0.1% | 515.0 0.8% | (1,502.0) (1.7%) | (451.0) (0.6%) | 0.0 0.0% | (668.9) (0.7%) | (687.3) (0.7%) | (737.9) (0.7%) | (786.7) (0.7%) | (833.1) (0.7%) | (876.1) (0.7%) | (914.9) (0.7%) | (948.7) (0.7%) | (976.8) (0.7%) | (998.6) (0.7%) | (1,013.6) (0.7%) |
Free Cash Flow to Firm (FCFF) % of revenue | (546.1) (1.4%) | 6,686.6 9.9% | 3,443.3 3.8% | 8,645.9 11.0% | 9,443.3 11.4% | 10,519.3 11.8% | 10,809.2 11.8% | 11,604.2 11.8% | 12,372.7 11.8% | 13,101.6 11.8% | 13,777.5 11.8% | 14,387.4 11.8% | 14,919.1 11.8% | 15,361.3 11.8% | 15,704.1 11.8% | 15,939.7 11.8% |
% of FCFF used in calculation | 83.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | 9.50 | ||||||
Discount factor | 0.97 | 0.91 | 0.86 | 0.81 | 0.76 | 0.71 | 0.67 | 0.63 | 0.59 | 0.56 | ||||||
Discounted FCFF (DFCFF) | 8,468.3 | 9,857.7 | 9,952.2 | 9,979.1 | 9,937.3 | 9,827.4 | 9,651.0 | 9,411.4 | 9,113.0 | 8,761.3 |
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ET DCF Value
DCF Value Calculation
as of Mar 03, 2025
Sum of DFCFF
% share of EV
95.0B
34.1%
Terminal Value (TV)
329.6B
Discounted TV
% share of EV
183.9B
65.9%
278.9B
Total Debt
1,602.0M
277.6B
Shares outstanding
3,446.9M
FX rate
1.0
80.5
323.2% undervalued
Equity Value Bridge
ET DCF Financials
Revenue
$82.7B -> $133.4B
4.9% CAGR
Operating Income
$9,138.0M -> $16.3B
6.0% CAGR
FCFF
$9,443.3M -> $15.7B
5.2% CAGR
ET DCF sensitivity
DCF value
Long-term Terminal growth rate
0.5%
1.0%
1.5%
2.0%
2.5%
WACC
5.0%
$94.0
$97.0
$97.0
$97.0
$97.0
5.5%
$84.0
$90.0
$95.0
$95.0
$95.0
6.3%
$71.0
$76.0
$81.0
$87.0
$91.0
6.5%
$69.0
$73.0
$78.0
$83.0
$91.0
7.0%
$64.0
$67.0
$71.0
$75.0
$80.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
0.5%
1.0%
1.5%
2.0%
2.5%
WACC
5.0%
394.0%
410.0%
410.0%
410.0%
410.0%
5.5%
341.0%
373.0%
399.0%
399.0%
399.0%
6.3%
273.0%
299.0%
326.0%
357.0%
378.0%
6.5%
263.0%
284.0%
310.0%
336.0%
378.0%
7.0%
236.0%
252.0%
273.0%
294.0%
320.0%
Explore more intrinsic value tools hub for ET
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Earnings growth model
Discount rate
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Intrinsic Value
Reverse DCF
FAQ
What is Energy Transfer LP DCF (discounted cash flow) valuation?
As of Mar 03, 2025, Energy Transfer LP's Discounted Cash Flow (DCF) valuation estimates its share price at $80.5. This suggests it may be undervalued by 323.2% compared to its current price of around $19.0, using a WACC of 6.3% and growth rates of 1.5%.
What is Energy Transfer LP WACC?
As of Mar 03, 2025, Energy Transfer LP's Weighted Average Cost of Capital (WACC) is approximately 6.3%.
What is Energy Transfer LP Enterprise Value?
As of Mar 03, 2025, Energy Transfer LP's Enterprise Value (EV) is approximately $278.9B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.