Energy Transfer L.P. Series I F ET-PI

Competitive advantage analysis · energy

Corporate Default
Overall moat score
43/100
Developing

Ranked against 67 peers in Oil & Gas Midstream

About Energy Transfer L.P. Series I F

Energy Transfer LP, together with its subsidiaries, provides energy-related services in the United States. It operates through Intrastate Transportation and Storage; Interstate Transportation and Storage; Midstream; Natural Gas Liquid (NGL) and Refined Products Transportation and Services; Crude Oil Transportation and Services; Investment in Sunoco LP; Investment in USA Compression Partners, LP (USAC); and All Other segments. The company owns and … Full ET-PI analysis →

Key strengths

  • ROIC Sustainably Above Peers ROIC at 61.7th percentile exceeds peers and WACC, demonstrating superior capital allocation.
  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.83), demonstrating pricing resilience across cycles.

Key risks

  • Scale Without Profitability Despite scale, profitability lags peers (score 0.17), suggesting limited competitive advantage.
  • Elevated Debt Risk Debt serviceability is weak (score 0.35), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
43
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

How ET-PI scores on the Corporate Default defenses

Pricing Power

Score 43 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 56 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 45 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 62 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 42 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 19 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding ET-PI's moat

What is Energy Transfer L.P. Series I F's moat score?

Energy Transfer L.P. Series I F (ET-PI) scores 43 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Capital Efficiency (62/100) and its weakest is Scale & Market Position (19/100).

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.

Why is Energy Transfer L.P. Series I F scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Energy Transfer L.P. Series I F?

The Corporate Default template measures 6 defenses, and ET-PI scores: Pricing Power (43), Cost Advantage (56), Customer Stickiness (45), Capital Efficiency (62), Resilience (42), Scale & Market Position (19). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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