GENESIS ENERGY LP GEL

Energy SIC 4610 - Pipe Lines (No Natural Gas) NAICS Transportation and Warehousing › Pipeline Transportation › Other Pipeline Transportation derived NYSE

We are a growth-oriented master limited partnership ("MLP") formed in Delaware in 1996 focused on the midstream segment of the crude oil and natural gas industry. Our common units are traded on the New York Stock Exchange ("NYSE"), under the ticker symbol "GEL." We provide an integrated suite of services (including transportation, storage, sulfur removal, blending, terminaling and processing) to crude oil and natural gas producers, refiners, and industrial and commercial enterprises. Our operations are primarily located in the Gulf of America and in the Gulf Coast region of the United States. We have a diverse portfolio of assets, including pipelines, offshore hub and junction platforms, refinery-related plants, storage tanks, terminals, railcars, rail unloading facilities, barges and other vessels, and trucks. Prior to February 28, 2025, our business also included the trona and trona-based exploring, mining, processing, producing, marketing, logistics and selling business based in Wyoming (the "Alkali Business").

Last close 14.08 2026-10-23
Market cap $1.72B estimated share count
52-week range 13.55 - 18.64

Valuation FY2025 figures against the last close

P/S1.1x
P/E—
P/FCF26.1x
EV/EBITDA9.4x
Dividend yield—
Diluted EPS-4.19

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Onshore Transportation and Services
  • Offshore Pipeline Transportation
  • Marine Transportation
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Onshore Transportation and Services, FY2025: 779M (47.8%) 48% Onshore Transportation and Services Offshore Pipeline Transportation, FY2025: 531.9M (32.6%) 33% Offshore Pipeline Transportation Marine Transportation, FY2025: 319.5M (19.6%) 20% Marine Transportation FY2024 Onshore Transportation and Services, FY2024: 934.3M (56.3%) 56% Offshore Pipeline Transportation, FY2024: 404.9M (24.4%) 24% Marine Transportation, FY2024: 321.6M (19.4%) 19% FY2023 Onshore Transportation and Services, FY2023: 1B (58.8%) 59% Offshore Pipeline Transportation, FY2023: 382.2M (22.2%) 22% Marine Transportation, FY2023: 327.5M (19.0%) 19%
Segment FY2025FY2024FY2023
Onshore Transportation and Services $779.0M $934.3M $1.01B
Offshore Pipeline Transportation $531.9M $404.9M $382.2M
Marine Transportation $319.5M $321.6M $327.5M

As the company reported it, from the “Business Segment Information (Schedule of Revenues by Segment) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.63B$1.66B$1.72B$2.79B$2.13B$1.82B$2.48B$2.91B$2.03B$1.71B
SG&A $86.3M$58.3M$64.6M$66.6M$61.2M$56.9M$52.7M$66.9M$66.4M$45.6M
Total operating expenses $1.37B$1.49B$1.52B$2.47B$2.05B$2.07B$2.21B$2.74B$1.81B$1.51B
Operating income $258.2M$170.0M$205.1M$315.0M$75.7M-$246.0M$272.7M$170.2M$220.6M$206.4M
Interest expense $264.7M$261.9M$219.1M$226.2M$233.7M$209.8M$219.4M$229.2M$176.8M$139.9M
Pre-tax income $31.3M-$49.0M$47.6M$78.6M-$163.4M-$399.0M$100.7M-$10.3M$78.1M$114.4M
Income tax $806.0K$1.8M$456.0K$3.2M$1.7M$1.3M$655.0K$1.5M$4.0M$3.3M
Net income -$440.4M-$63.9M$117.7M$75.5M-$165.1M-$416.7M$96.0M-$6.1M$82.6M$113.2M
EPS, basic -4.19-1.240.22-0.04-1.96-4.010.18———
EPS, diluted -4.19-1.240.22-0.04-1.96-4.010.18———
Shares, diluted (wtd. avg.) 122.5M122.5M122.5M122.6M122.6M122.6M122.6M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $6.4M$7.4M$6.2M$2.1M$25.0M$27.0M$56.4M$10.3M$9.0M$7.0M
Receivables $608.2M$479.5M$759.5M$721.6M$400.3M$392.5M$417.0M$323.5M$495.4M$224.7M
Inventory $55.4M$37.8M$135.2M$78.1M$78.0M$99.9M$65.1M$73.5M$88.7M$98.6M
Total current assets $687.5M$911.7M$964.0M$853.0M$542.5M$580.2M$593.1M$443.3M$636.0M$359.6M
Property, plant and equipment $3.47B$3.54B$4.53B$4.10B$3.91B$3.85B$4.29B$4.42B$4.87B$4.21B
Goodwill $302.0M$302.0M$302.0M$302.0M$302.0M$302.0M$302.0M$302.0M$325.0M$325.0M
Other intangibles $75.6M$85.3M$141.5M$127.3M$127.1M$128.7M$138.9M$162.6M$182.4M$204.9M
Total assets $4.86B$7.04B$7.02B$6.37B$5.91B$5.93B$6.60B$6.48B$7.14B$5.70B
Accounts payable $490.7M$388.2M$588.9M$428.0M$264.3M$198.4M$218.7M$127.3M$270.9M$119.8M
Total current liabilities $699.7M$858.8M$967.4M$709.1M$496.9M$383.4M$415.5M$332.8M$456.3M$260.8M
Long-term debt $3.05B$3.73B$3.76B$3.46B$2.98B$3.39B$3.43B$3.43B$3.70B$3.09B
Total liabilities $4.15B$5.52B$5.31B$4.59B$3.93B$4.18B$4.25B$4.04B$4.42B$3.58B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $252.8M$391.9M$521.1M$334.4M$338.0M$296.7M$382.3M$390.0M$323.6M$282.8M
Depreciation and amortisation $250.9M$313.2M$280.2M$296.2M$309.7M$295.3M$319.8M$313.2M$252.5M$222.2M
Stock-based compensation $15.3M$5.2M$25.4M$17.8M$8.8M-$3.7M$8.5M$3.9M-$5.8M$6.6M
Capital expenditure $186.9M$587.1M$620.0M$424.2M$301.4M$144.1M$163.2M$195.4M$250.6M$463.1M
Investing cash flow $832.3M-$552.2M-$593.6M-$374.5M-$274.1M-$103.8M-$140.8M$140.7M-$1.46B-$434.7M
Financing cash flow -$1.11B$161.7M$74.0M$41.7M-$65.9M-$222.4M-$195.4M-$529.5M$1.14B$148.1M
Buybacks $0$0$1.0M$0$0—————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001022321-26-000008.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 1.7B Net income, FY2016: 113.2M Revenue, FY2017: 2B Net income, FY2017: 82.6M Revenue, FY2018: 2.9B Net income, FY2018: -6.1M Revenue, FY2019: 2.5B Net income, FY2019: 96M Revenue, FY2020: 1.8B Net income, FY2020: -416.7M Revenue, FY2021: 2.1B Net income, FY2021: -165.1M Revenue, FY2022: 2.8B Net income, FY2022: 75.5M Revenue, FY2023: 1.7B Net income, FY2023: 117.7M Revenue, FY2024: 1.7B Net income, FY2024: -63.9M Revenue, FY2025: 1.6B Net income, FY2025: -440.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.71B $2.03B $2.91B $2.48B $1.82B $2.13B $2.79B $1.72B $1.66B $1.63B
Gross profit — — — — — — — — — —
Net income $113.2M $82.6M -$6.1M $96.0M -$416.7M -$165.1M $75.5M $117.7M -$63.9M -$440.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Material agreement signed Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed Item 1.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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