An apparatus and method to determine fractions of various phases in a multiphase fluid. The apparatus includes main body including an interior configured receive a multiphase fluid and an exterior. The apparatus senses fluid pressure of multiphase fluid received in the interior and senses a fluid temperature of the multiphase fluid. The apparatus transmits an ultrasonic wave into the fluid and detects the transmitted wave to determine its velocity and attenuation. The apparatus may adjust the determined velocity and attenuation based on the temperature and pressure of the fluid to compensate for a difference between the sensed temperature and pressure and a standard temperature and pressure. The apparatus determines a gas fraction, water fraction, and a non-water fluid fraction of the multiphase fluid based on the sensed fluid pressure, the sensed fluid temperature, and the velocity and attenuation of the ultrasonic wave in the multiphase fluid.