What is Energy Transfer LP's backlog?

Energy Transfer LP reported $37.6B of remaining performance obligations at 30 Sep 2026, up 10% from a year earlier and up 9% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 1.09.

How fast does Energy Transfer LP's backlog turn into revenue?

Over the last twelve months Energy Transfer LP recognised revenue equal to about 366% of the backlog it started each quarter with.

Energy Transfer LP (ET) backlog: remaining performance obligations

How much revenue Energy Transfer LP already has under contract, how fast it converts, and who it is with.

Data as of 7 Nov 2026.

Open the interactive Backlog view Energy Transfer LP competitor analysis

Energy Transfer LP reported $37.6B of remaining performance obligations at 30 Sep 2026, up 10% from a year earlier and up 9% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 1.09.
Net new backlog added in the latest quarter: $3.25B.
Over the last twelve months it turned about 366% of its opening backlog into revenue (12-month conversion).
The company reports 6% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 2.0% of the backlog.
Twelve-month book-to-bill: 1.03, i.e. 1.03 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -46 points — revenue is catching up with orders.
By backlog size it ranks 26th among US filers the cockpit tracks.

Energy Transfer LP backlog history

Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).

Amounts in USD. Source: SEC XBRL filings.
Quarter end	Backlog (RPO)	TTM revenue	Coverage	Customer prepayments
30 Sep 2026	$37.6B	$125B	0.3 yrs	$748M
30 Jun 2026	$34.3B	$107B	0.3 yrs	$737M
31 Mar 2026	$33.8B	$92.3B	0.4 yrs	$739M
31 Dec 2025	$33.6B	$85.5B	0.4 yrs	$745M
30 Sep 2025	$34.2B	$79.8B	0.4 yrs	$643M
30 Jun 2025	$35.6B	$80.6B	0.4 yrs	$621M
31 Mar 2025	$36.8B	$82.1B	0.4 yrs	$674M
31 Dec 2024	$37.7B	$82.7B	0.5 yrs	$759M
30 Sep 2024	$38.5B	$83.7B	0.5 yrs	$719M
30 Jun 2024	$38.3B	$83.6B	0.5 yrs	$788M
31 Mar 2024	$38.1B	$81.2B	0.5 yrs	$743M
31 Dec 2023	$39.1B	$78.6B	0.5 yrs	$749M

Questions

What is Energy Transfer LP's backlog?: Energy Transfer LP reported $37.6B of remaining performance obligations at 30 Sep 2026, up 10% from a year earlier and up 9% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 1.09.
How fast does Energy Transfer LP's backlog turn into revenue?: Over the last twelve months Energy Transfer LP recognised revenue equal to about 366% of the backlog it started each quarter with.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.