Enterprise Products Partners L.p.

Utilities
Natural Gas Distribution
www.enterpriseproducts.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $70.57B
PE 12
Debt $33.37B
Cash $1.67B
EV $102.27B
FCF $3.63B

Earnings

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Sales & Net Margins

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Earnings	$5.79B
EBIT	$7.29B
ROE	20%
ROA	10%
FCF	$3.63B
Equity	$28.35B
Growth Stability	98%
PE	12.19
PEG	1.52
PB	2.49
P/FCF	19.46
P/S	1.25
Price/Cash	0.02
Debt/Equity	1.18
Debt/FCF	9.2
Net Margins	10%
Gross Margins	24%
Op. Margins	13%
Earnings CAGR	11%
Sales Growth YoY	15%
Sales Growth QoQ	2%
Sales CAGR	11%
FCF CAGR	30%
Equity CAGR	4%
Earnings Stability	0.82
Earnings Growth YoY	7%
Earnings Growth QoQ	1%

Earnings CAGR 5Y	8%
Sales CAGR 5Y	18%
FCF CAGR 5Y	15%
Equity CAGR 5Y	3%
Earnings CAGR 3Y	6%
Sales CAGR 3Y	6%
FCF CAGR 3Y	-21%
Equity CAGR 3Y	4%
Market Cap	$70.57B
Revenue	$56.64B
Assets	$75.06B
Total Debt	$33.37B
Cash	$1.67B
Shares Outstanding	2.17B
EV	102.27B
Earnings Score	92%
Moat Score	92%
Safety Score	76%
Final Score	87%
Working Capital	981M
Current Ratio	1.07
Gross Profit	$13.44B
Shares Growth 3y	-0%
Equity Growth QoQ	1%
Equity Growth YoY	4%

Assets & ROA

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Stockholders Equity & ROE

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Enterprise Products Partners is a master limited partnership that transports and processes natural gas, natural gas liquids, crude oil, refined products and petrochemicals. It is one of the largest midstream companies, with operations servicing most producing regions in the Lower 48 states. Enterprise is particularly dominant in the NGL market and is one of the few MLPs that provide midstream services across the full hydrocarbon value chain.

SEC Filings

Direct access to Enterprise Products Partners L.p. (EPD) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Enterprise Products Partners L.p. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Enterprise Products Partners L.p. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 11%

Stability 82%

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Enterprise Products Partners L.p. Discounted Cash Flow

Fully customizable DCF calculator online for Enterprise Products Partners L.p..

Years

Calculation mode

= $287B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$3.6B	$4.7B	$6.1B	$7.9B	$10B	$13B	$17B	$22B	$29B	$38B	$49B	$486B
DCF		$4.3B	$5B	$5.9B	$7B	$8.2B	$9.7B	$11B	$14B	$16B	$19B	$188B
Value	$287B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	6%	9%	11%	10%	11%	14%	14%	11%	9%	11%	10%
ROA	-	7%	7%	7%	9%	10%	8%	9%	10%	10%	10%
ROE	-	12%	11%	12%	17%	18%	15%	18%	20%	20%	20%

Good Net Margins (10.08%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	143.29	25.42	18.2	14.67	15.01	12.09	4.96	4.99	7.05	9.2
Debt over Equity	1.31	1.21	1.2	1.23	1.17	1.21	1.29	1.23	1.14	1.1	1.18
Growth Stability	-	-	-	100%	100%	100%	98%	100%	100%	100%	98%

Bad Debt/FCF ratio (9.2)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.18)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (98%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-44%	-15%	27%	25%	-10%	-17%	50%	43%	-15%	18%
Earnings YoY growth	-	-10%	-0%	11%	48%	10%	-18%	23%	18%	1%	8%
Equity YoY growth	-	12%	9%	2%	6%	4%	-2%	4%	5%	4%	3%
FCF YoY growth	-	-86%	507%	46%	25%	5%	31%	142%	-3%	-29%	15%