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Pipe lines (no natural gas) company · DE · FY ends Dec · Revenue $27.62B · 6.13% margin · $1.40B FCF
Operating margin is thin at 3.45%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 6.0% YoY. The question is whether this is cyclical or a structural shift.
Insufficient data to identify specific risks. Treat any missing metrics as a data gap, not a clean bill of health.
Profitability & Returns
Revenue (TTM)
$27.62B
▼ -6.0% YoY
Net Income (TTM)
$1.23B
▲ +227.1% YoY
Op. Margin
6.13%
▲ +2.5pp YoY
ROIC
10.78%
▲ +4.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.40B
▲ +35.3% YoY
Op. Cash Flow (TTM)
$1.86B
▲ +18.5% YoY
Net Debt
$2.11B
Cash & Equiv.
$1.15B
5Y CAGR: +19.2%
5Y CAGR: +35.9%
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