Enterprise Products Partners LP (EPD) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Enterprise Products Partners LP stock $24.66, price $36.62, that is 32.7% below the price, quality 54 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $14.82 – $39.36 · fair‑value band $12.98 – $48.88 · the $36.62 price screens above the $24.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products.
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It operates in four segments: NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services; and Petrochemical & Refined Products Services. The NGL Pipelines & Services segment offers natural gas processing and related NGL marketing activities.
This segment operates natural gas processing facilities located in Colorado, Louisiana, Mississippi, New Mexico, Texas, and Wyoming; NGL pipelines; NGL fractionation facilities; NGL and related product storage facilities; and NGL marine terminals.
The Crude Oil Pipelines & Services segment operates crude oil pipelines; and crude oil storage and marine terminals, which include a fleet of approximately 200 tractor-trailer tank trucks that are used to transport crude oil. It also engages in crude oil marketing activities.
The Natural Gas Pipelines & Services segment operates natural gas pipeline systems to gather, treat, and transport natural gas.
It leases underground salt dome natural gas storage facilities in Napoleonville, Louisiana; owns an underground salt dome storage cavern in Wharton County, Texas; and transports, stores, and markets natural gas.
The Petrochemical & Refined Products Services segment operates propylene fractionation facilities, including propylene fractionation units and propane dehydrogenation facilities, and related marketing activities; butane isomerization complex and related deisobutanizer operations; and octane enhancement, isobutane dehydrogenation, and high purity isobutylene production facilities.
It also operates refined products pipelines and terminals; and ethylene export terminals; and provides refined products marketing and marine transportation services. The company was founded in 1968 and is headquartered in Houston, Texas.
Stock analysis
Enterprise Products Partners LP (EPD) currently trades at $36.62, while our model-based Fair Value estimate is $24.66, 33% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $39.85 per share, and 5 of the 26 models we run sit above the $36.62 price.
Bear case: the Asset-Based group reads lowest at $6.16, and 21 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $12.98 (bear) to $48.88 (bull), the price of $36.62 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Enterprise Products Partners LP reported revenue of $52.6B in FY2025 versus $40.8B in FY2021, a compound +6.6%/yr. Reported net income was $5.8B in FY2025, compounding +5.8%/yr from FY2021.
Key figures
Market cap $80.0B Large · P/E ratio 12.1 · P/S ratio 1.24 · EPS (TTM) $3.03 · Dividend yield 1.5% · Net margin 10.2% · Return on equity 20.9% · Return on assets (EBIT) 9.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (medium confidence).
What moves the price
The share trades about 7% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −21% fair-value upside, at −33%, EPD screens richer than that median.
Fair Value models
Bear$12.98Fair Value $24.66Bull$48.88
Price $36.62 · Downside -32.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($2.11 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
BuyAj TeagueCO-CHIEF EXECUTIVE OFFICER, Director2,665 shares at $37.55$100,071Mar 20, 2026
BuyJohn R RutherfordDirector15,000 shares at $32.09$481,350Dec 29, 2025
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−6.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.1%
Start year 2020 (pandemic). Over 10 years: +6.9% a year
Revenue growth 27 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.5%
Dividend (yield on the price)1.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5.0% vs 7.8%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 13%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+16.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +13.8% a year for the price and +3.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Extensive pipeline network generates predictable fee-based cash flows, yet elevated total debt relative to equity stands out as the main weakness.
Main risk: US government licensing requirements or trade policy changes on ethane exports to China could disrupt volumes and margins at EPD's Gulf Coast export terminals.
Bull case: EPD could leverage its integrated network and export infrastructure to capture rising Permian and LNG-related volumes while adapting contracts to maintain stable fee-based cash flows.
Bear case: If export controls recur or NGL overcapacity intensifies, EPD might face sustained pressure on export and pipeline margins, limiting growth in distributable cash flow and distribution increases.
Enterprise Products Partners operates a vast network of midstream pipelines and facilities that generate predictable fee-based cash flows from energy transport and storage. These underpin a long streak of distribution growth plus ongoing unit repurchases. Higher long-term yields however can make the partnership's income profile less compelling relative to bonds. Does rising Permian and export volumes strengthen the cash flow base enough to offset rate pressure, or does the yield environment remain the dominant factor?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Midstream · 81 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−32.7% · Below median
Profitability
Return on equity (12 months)20.9% · Above median
Return on assets7.5% · Above median
Net margin (12 months)10.2% · Below median
Operating margin (12 months)10.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)49.3% · Above median
Dividend yield (12 months)1.5% · Below median
Balance sheet
Debt / equity1.10× · Above median
Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper
P/E (12 months)12.1× · Cheaper than median
P/B2.69× · Pricier than median
P/S (12 months)1.24× · Cheaper than median
Price / free cash flow (fiscal year)27.0× · Pricier than median
EV/EBITDA10.4× · Pricier than median
PEG1.35× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 6
FUTURE (revenue growth)100· sector 100
PAST (return on equity)83· sector 52
HEALTH (low debt)45· sector 55
DIVIDEND (yield)30· sector 78
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Enterprise Products Partners LP (EPD) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $24.66 versus a price of $36.62, about 33% lower (overvalued).
What is the fair value of EPD?
Our model-based fair value for Enterprise Products Partners LP is $24.66 (as of Nov 6, 2026), built from audited fundamentals. The current price: $36.62.
What is the quality score of EPD?
Enterprise Products Partners LP has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Enterprise Products Partners LP (EPD)?
Our model-based price target is the fair value of $24.66 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario $12.98, optimistic scenario $48.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Enterprise Products Partners LP stock forecast for 2026?
Our models put fair value at $24.66, about 33% lower versus a price of $36.62 (overvalued). Cautious scenario $12.98, optimistic scenario $48.88. The calculation is refreshed regularly with new filings.
What is the revenue of Enterprise Products Partners LP (EPD)?
Enterprise Products Partners LP reported trailing-twelve-month revenue of about $64.4B (latest available figure, as of Nov 6, 2026).
Does Enterprise Products Partners LP pay a dividend?
Enterprise Products Partners LP currently shows a dividend yield of 1.50% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Enterprise Products Partners LP (EPD)?
For today's price to be fair in a discounted-cash-flow model, Enterprise Products Partners LP would have to grow free cash flow by +16.5 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.1 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of EPD use?
Our models discount Enterprise Products Partners LP at 8.1 %: a base by market capitalisation (large), damped by beta 0.49, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Enterprise Products Partners LP that is +16.5 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Enterprise Products Partners LP (EPD) delivered so far?
Over the past 5 years revenue at Enterprise Products Partners LP grew +14.1 % a year. The price currently implies +16.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Enterprise Products Partners LP (EPD) growing?
The median revenue growth in the sector is +14.1 % a year. That is the yardstick for the growth priced into Enterprise Products Partners LP (+16.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Enterprise Products Partners LP (EPD)?
The free-cash-flow yield on the price is 3.71 %: that much free cash flow Enterprise Products Partners LP produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Enterprise Products Partners LP (EPD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Enterprise Products Partners LP it is $24.66 per share (as of Nov 6, 2026), against a price of $36.62. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Enterprise Products Partners LP stock overvalued or undervalued in 2026?
As of Nov 6, 2026, EPD trades above its calculated fair value: price $36.62, fair value $24.66, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EPD?
No. The price is what the market pays today ($36.62); the fair value is what the company's own numbers justify ($24.66). For Enterprise Products Partners LP the two are $11.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Enterprise Products Partners LP worth?
The market values Enterprise Products Partners LP at about $80.0B (market capitalisation, as of Nov 6, 2026). Per share that is $36.62; our models calculate a fair value of $24.66 per share.
What do the bullish and bearish scenarios say about EPD?
Our models span a range for Enterprise Products Partners LP: cautious scenario $12.98, base $24.66, optimistic $48.88 per share (as of Nov 6, 2026, price $36.62). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EPD?
Enterprise Products Partners LP trades at a price-to-earnings ratio of 12.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $24.66 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 5 of the years ex one-offs: 11.8. Other multiples: PEG 1.3, P/B 2.7, P/S 1.2, EV/EBITDA 10.4.
What is the PEG ratio of EPD?
The PEG ratio of Enterprise Products Partners LP is 1.35 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Enterprise Products Partners LP (EPD)?
Balance-sheet figures for Enterprise Products Partners LP (as of Nov 6, 2026): return on equity 20.9%, debt of 1.10 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is EPD from its 52-week high?
Enterprise Products Partners LP trades at $36.62, about 7% below its 52-week high of $39.36 and 25% above the low of $29.31 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $24.66 is for.
Which stocks are comparable to Enterprise Products Partners LP?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Kinder Morgan, Inc, Cheniere Energy, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Enterprise Products Partners LP stock attractive at the current price?
The data as of Nov 6, 2026: price $36.62, calculated fair value $24.66 (−33%), Quality Score 54/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EPD calculated?
We run Enterprise Products Partners LP through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $24.66, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Enterprise Products Partners LP itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Enterprise Products Partners LP (EPD)?
The closing price on Nov 5, 2026 was $36.62. Our model-based fair value is $24.66, about 33% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Enterprise Products Partners LP right now?
The model range is unusually wide ($12.98 to $48.88). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Enterprise Products Partners LP (EPD) come from?
Earnings per share at Enterprise Products Partners LP grew +8.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.6 %, EBIT margin +2.1 %, tax rate +0.0 %, residual (interest, one-offs) +1.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Enterprise Products Partners LP
How large is the market capitalisation of Enterprise Products Partners LP (EPD)?
The market capitalisation of Enterprise Products Partners LP is $80.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Enterprise Products Partners LP (EPD)?
The price-to-sales ratio of Enterprise Products Partners LP is 1.24 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Enterprise Products Partners LP (EPD)?
Earnings per share at Enterprise Products Partners LP are $3.03 (price ÷ EPS = P/E 12.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Enterprise Products Partners LP (EPD)?
The dividend yield of Enterprise Products Partners LP is 1.5% (payout 18.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Enterprise Products Partners LP (EPD)?
The net margin of Enterprise Products Partners LP is 10.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Enterprise Products Partners LP (EPD)?
The return on equity (ROE) of Enterprise Products Partners LP is 20.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Enterprise Products Partners LP (EPD)?
On an EBIT basis the return on assets of Enterprise Products Partners LP is 9.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Enterprise Products Partners LP (EPD)?
The operating margin of Enterprise Products Partners LP is 10.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Enterprise Products Partners LP (EPD)?
Revenue at Enterprise Products Partners LP is growing +49.3% versus a year earlier (3y avg −3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Enterprise Products Partners LP (EPD)?
Earnings per share at Enterprise Products Partners LP are growing +21.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Enterprise Products Partners LP (EPD) carry?
The net debt of Enterprise Products Partners LP is $33.7B (fiscal year 2025, ≈ 11.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026