Plains All American Pipeline
PAA
24.09
+0.03
+0.12%
Plains All American Pipeline
US · PAA
#1049 by market cap
Listed 1970
24.09
+0.03
+0.12%
Live - 5344 symbols - heartbeat 166s ago
· 2026-10-08 08:18
Pre-market
24.22
+0.54%
After-hours
23.91
-0.76%
- Market cap
- 17.00B
- P/E (TTM)i
- 6.67
- P/Bi
- 1.53
- EPSi
- 1.66
- Div yieldi
- 6.62%
- 52W posi
- 81%
Reader sentiment
Are you bullish or bearish on PAA?
Anonymous reader poll. Unscientific, not investment advice.
Revenue annual, last 8 years
Latest year -9.46% YoY
Margins
- Gross margin
- 3.89%
- Operating margin
- 3.12%
- Net margin
- 2.64%
Key ratios & quality
- Enterprise valuei
- 27.93B
- PEG ratioi
- 0.65
PEG uses trailing P/E against the 3-year net income growth rate (10.31%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG."
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 34.06B | 33.67B | 23.29B | 42.08B | 57.34B | 47.34B | 48.89B | 44.26B |
| Gross profit | 2.48B | 2.31B | 1.13B | 1.74B | 1.89B | 1.41B | 1.36B | 1.72B |
| Selling & admin expenses | 316.00M | 297.00M | 271.00M | 292.00M | 325.00M | 299.00M | 328.00M | 342.00M |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 2.16B | 2.02B | 859.00M | 1.44B | 1.56B | 1.11B | 1.03B | 1.38B |
| Pretax profit | 2.41B | 2.25B | -2.60B | 721.00M | 1.42B | 1.37B | 969.00M | 1.40B |
| Tax | 198.00M | 66.00M | -19.00M | 73.00M | 189.00M | 61.00M | 87.00M | 15.00M |
| Net profit | 2.22B | 2.18B | -2.58B | 648.00M | 1.23B | 1.50B | 1.11B | 1.77B |
| Basic EPS | 3 | 3 | -4 | 1 | 1 | 1 | 1 | 2 |
| Diluted EPS | 2.71 | 2.65 | -3.83 | 0.55 | 1.19 | 1.40 | 0.73 | 1.66 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 11.48B | 10.64B | 11.58B | 10.56B | 12.47B | 17.69B |
| Gross profit | 428.00M | 363.00M | 475.00M | 455.00M | 433.00M | 567.00M |
| Selling & admin expenses | 85.00M | 82.00M | 83.00M | 91.00M | 81.00M | 110.00M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 343.00M | 281.00M | 392.00M | 364.00M | 352.00M | 457.00M |
| Pretax profit | 389.00M | 231.00M | 459.00M | 323.00M | 335.00M | 376.00M |
| Tax | 9.00M | 4.00M | 6.00M | -2.00M | 1.00M | 100.00M |
| Net profit | 516.00M | 297.00M | 529.00M | 427.00M | 231.00M | 1.93B |
| Basic EPS | 0 | 0 | 1 | 0 | 0 | 3 |
| Diluted EPS | 0.49 | 0.21 | 0.55 | 0.41 | 0.14 | 2.51 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 3.53B | 4.61B | 3.67B | 6.14B | 5.36B | 4.91B | 4.80B | 4.73B |
| Cash & ST investments | 66.00M | 45.00M | 22.00M | 449.00M | 401.00M | 450.00M | 348.00M | 328.00M |
| Inventory | 640.00M | 604.00M | 647.00M | 783.00M | 729.00M | 548.00M | 261.00M | 211.00M |
| Total assets | 25.51B | 28.68B | 24.50B | 28.61B | 27.89B | 27.36B | 26.56B | 30.17B |
| Total current liabilities | 3.46B | 5.02B | 4.25B | 6.23B | 5.89B | 5.00B | 4.95B | 4.93B |
| Short-term debt | 66.00M | 598.00M | 909.00M | 899.00M | 1.16B | 446.00M | 407.00M | 563.00M |
| Long-term debt | 9.14B | 9.14B | 9.31B | 8.40B | 7.29B | 7.31B | 7.21B | 10.70B |
| Total liabilities | 13,509,000,000.00 | 15,482,000,000.00 | 14,759,000,000.00 | 15,799,000,000.00 | 14,567,000,000.00 | 13,623,000,000.00 | 13,466,000,000.00 | 17,089,000,000.00 |
| Total equity | 12.00B | 13.20B | 9.74B | 12.81B | 13.33B | 13.73B | 13.10B | 13.08B |
| Retained earnings | -- | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 4.74B | 4.69B | 5.58B | 4.73B | 6.16B | 6.54B |
| Cash & ST investments | 427.00M | 459.00M | 1.18B | 328.00M | 171.00M | 1.06B |
| Inventory | 335.00M | 151.00M | 184.00M | 211.00M | 380.00M | 84.00M |
| Total assets | 27.06B | 27.16B | 28.10B | 30.17B | 31.64B | 29.22B |
| Total current liabilities | 4.69B | 4.68B | 5.37B | 4.93B | 6.54B | 5.86B |
| Short-term debt | 478.00M | 475.00M | 1.01B | 563.00M | 420.00M | 9.00M |
| Long-term debt | 8.20B | 8.20B | 8.44B | 10.70B | 10.96B | 8.43B |
| Total liabilities | 14,199,000,000.00 | 14,206,000,000.00 | 15,112,000,000.00 | 17,089,000,000.00 | 18,816,000,000.00 | 14,927,000,000.00 |
| Total equity | 12.86B | 12.95B | 12.99B | 13.08B | 12.82B | 14.29B |
| Retained earnings | -- | -- | -- | -- | -- | -- |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.61B | 2.50B | 1.51B | 2.00B | 2.41B | 2.73B | 2.49B | 2.94B |
| Depreciation & amortization | 520.00M | 601.00M | 653.00M | 774.00M | 965.00M | 909.00M | 901.00M | 953.00M |
| Free cash flow | 974.00M | 1.32B | 776.00M | 1.66B | 1.95B | 2.32B | 2.04B | 2.29B |
| Dividends paid | -1.03B | -1.20B | -853.00M | -715.00M | -782.00M | -989.00M | -1.15B | -1.30B |
| Stock buybacks / issuance | 0 | 0 | -50.00M | -178.00M | -74.00M | 0 | 0 | -8.00M |
| Ending cash balance | 66.00M | 82.00M | 60.00M | 453.00M | 401.00M | 450.00M | 348.00M | 328.00M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 639.00M | 694.00M | 817.00M | 786.00M | 418.00M | 955.00M |
| Depreciation & amortization | 232.00M | 234.00M | 230.00M | 257.00M | 243.00M | 243.00M |
| Free cash flow | 499.00M | 524.00M | 632.00M | 638.00M | 288.00M | 817.00M |
| Dividends paid | -331.00M | -321.00M | -321.00M | -322.00M | -348.00M | -346.00M |
| Stock buybacks / issuance | -- | -- | 0 | 0 | -- | -- |
| Ending cash balance | 427.00M | 459.00M | 1.18B | 328.00M | 171.00M | 1.06B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 17.50 | 15.70 | -24.63 | 4.02 | 8.30 | 9.53 | 5.08 | 11.90 |
| ROA %i | 7.90 | 7.26 | -10.49 | 1.48 | 2.94 | 3.53 | 1.91 | 4.12 |
| ROIC %i | 11.43 | 10.73 | -10.88 | 3.89 | 6.14 | 7.14 | 4.57 | 8.25 |
| 5-year avg ROE %i | 8.36 | 9.27 | 3.58 | 3.91 | 4.18 | 2.58 | 0.46 | 7.77 |
| EBIT margin %i | 8.35 | 7.93 | -9.29 | 2.72 | 3.18 | 4.12 | 3.42 | 4.42 |
| FCF / sales %i | 2.86 | 3.93 | 3.33 | 3.95 | 3.41 | 4.45 | 3.74 | 5.18 |
| Current ratioi | 1.02 | 0.92 | 0.86 | 0.98 | 0.91 | 0.98 | 0.97 | 0.96 |
| Quick ratioi | 0.73 | 0.73 | 0.61 | 0.83 | 0.73 | 0.84 | 0.81 | 0.80 |
| Debt / assetsi | 36.10 | 35.47 | 43.30 | 33.68 | 31.39 | 29.34 | 29.40 | 37.99 |
| LT debt / equityi | 76.18 | 73.30 | 101.11 | 87.62 | 75.52 | 72.72 | 75.44 | 110.80 |
| Interest coveragei | 6.60 | 6.28 | -4.96 | 2.70 | 4.50 | 5.20 | 3.98 | 3.53 |
| Revenue CAGR (3Y) %i | 13.73 | 18.60 | -3.88 | 7.31 | 19.42 | 26.67 | 5.13 | -8.27 |
| Net income CAGR (3Y) %i | 34.88 | 44.07 | -- | -35.56 | -21.83 | -- | 9.19 | 10.31 |
| FCF CAGR (3Y) %i | -- | -- | -19.27 | 19.45 | 13.86 | 44.04 | 7.15 | 5.50 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 6.55 | 6.26 | 8.54 | 11.90 | 9.63 | 24.50 |
| ROA %i | 2.40 | 2.29 | 3.09 | 4.12 | 3.16 | 9.03 |
| ROIC %i | 5.26 | 5.25 | 6.47 | 8.25 | 7.07 | 15.77 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 3.88 | 3.52 | 4.17 | 4.42 | 4.29 | 4.02 |
| FCF / sales %i | 4.11 | 4.30 | 4.49 | 5.18 | 4.60 | 4.54 |
| Current ratioi | 1.01 | 1.00 | 1.04 | 0.96 | 0.94 | 1.12 |
| Quick ratioi | 0.91 | 0.86 | 0.90 | 0.80 | 0.76 | 1.08 |
| Debt / assetsi | 33.20 | 32.66 | 34.29 | 37.99 | 36.60 | 29.55 |
| LT debt / equityi | 88.30 | 86.48 | 88.36 | 110.80 | 116.22 | 77.86 |
| Interest coveragei | 4.21 | 3.47 | 3.86 | 3.53 | 3.27 | 3.43 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Crude Oil is the largest reported line at 100.38% of revenue, across 3 reported segments.
- The next-largest line, Natural gas liquids (NGL), is a distant second at 0.12% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Crude Oil100.38%
Natural gas liquids (NGL)0.12%
Quote time 2026-10-08 08:18:34 · For reference only, not investment advice and not tailored to your situation.