当前价格
$19.67
内在价值
使用下方计算器估算
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.
ROIC (TTM)
7.2%
ROE (TTM)
14.1%
FCF Yield
5.68%
基于过去 12 个月的数据，ET 每股自由现金流为 N/A，投入资本回报率（ROIC）为 7.2%，这些是使用 DCF 方法进行股票估值的关键输入。P/FCF 比率为 N/A，FCF 收益率为 5.68%，是评估 ET 相对估值的重要参考指标。
ET 的内在价值取决于未来增长率、折现率（WACC）和终值假设。DCF 模型将预期自由现金流折现回现值——WACC 的小幅变化可能导致估算偏移 20% 以上，因此敏感性分析至关重要。
ET 是否被低估取决于 DCF 内在价值与当前市价 $19.67 的比较。正的安全边际（内在价值高于市价）暗示潜在低估，但置信度取决于增长率和折现率假设的可靠性。
对 Energy Transfer LP 进行 DCF 估值的步骤：(1) 以过去 12 个月每股自由现金流为基础，(2) 根据Oil & Gas Midstream行业趋势和公司基本面预测未来 5-10 年的 FCF 增长，(3) 选择反映 ET 风险的折现率（WACC），(4) 加上预测期之后的终值。
DCF（折现现金流）根据公司未来的现金产生能力估算其当前价值。对于 Energy Transfer LP，这意味着预测Oil & Gas Midstream在未来 5-10 年能产生多少自由现金流，再折现到今天的价值。ET 的 ROIC 为 7.2%，表明公司可能面临产生超过资本成本回报的挑战。
WACC（加权平均资本成本）是 DCF 模型中的折现率——反映投资者要求的最低回报。对于 ET，资本结构和股权风险溢价决定了 WACC。WACC 每提高 1%，内在价值通常下降 10-15%。
