Oil & Gas Midstream
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GEL vs EPD vs ET vs PAA
Revenue, margins, valuation, and 5-year total return — side by side.
Oil & Gas Midstream
Oil & Gas Midstream
Oil & Gas Midstream
GEL vs EPD vs ET vs PAA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||||
|---|---|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $2.02B | $81.56B | $68.53B | $15.58B |
| Revenue (TTM) | $1.68B | $52.60B | $89.38B | $44.26B |
| Net Income (TTM) | $48M | $5.80B | $5.55B | $1.44B |
| Gross Margin | 16.8% | 13.6% | 22.9% | 3.3% |
| Operating Margin | 18.6% | 13.5% | 11.1% | 3.2% |
| Forward P/E | 20.9x | 13.1x | 12.3x | 13.8x |
| Total Debt | $3.05B | $34.93B | $71.61B | $7.93B |
| Cash & Equiv. | $6M | $1.25B | $1.27B | $348M |
GEL vs EPD vs ET vs PAA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Genesis Energy, L.P. (GEL) | 100 | 205.4 | +105.4% |
| Enterprise Products… (EPD) | 100 | 197.5 | +97.5% |
| Energy Transfer LP (ET) | 100 | 244.1 | +144.1% |
| Plains All American… (PAA) | 100 | 227.7 | +127.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: GEL vs EPD vs ET vs PAA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
GEL lags the leaders in this set but could rank higher in a more targeted comparison.
EPD carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 15 yrs, beta 0.06, yield 5.7%
- Lower volatility, beta 0.06, current ratio 1.04x
- 11.0% margin vs GEL's 2.9%
- Beta 0.06 vs GEL's 0.32, lower leverage
ET is the #2 pick in this set and the best alternative if long-term compounding and defensive is your priority.
- 142.6% 10Y total return vs PAA's 54.1%
- Beta 0.19, yield 6.5%, current ratio 1.22x
- Lower P/E (12.3x vs 13.1x)
- 6.5% yield, vs EPD's 5.7%
PAA is the clearest fit if your priority is growth exposure.
- Rev growth 2.8%, EPS growth -47.9%, 3Y rev CAGR 6.0%
- 2.8% revenue growth vs GEL's -45.0%
- +41.8% vs GEL's +19.5%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 2.8% revenue growth vs GEL's -45.0% | |
| Value | Lower P/E (12.3x vs 13.1x) | |
| Quality / Margins | 11.0% margin vs GEL's 2.9% | |
| Stability / Safety | Beta 0.06 vs GEL's 0.32, lower leverage | |
| Dividends | 6.5% yield, vs EPD's 5.7% | |
| Momentum (1Y) | +41.8% vs GEL's +19.5% | |
| Efficiency (ROA) | 7.5% ROA vs GEL's 1.0%, ROIC 8.3% vs 4.0% |
GEL vs EPD vs ET vs PAA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
GEL vs EPD vs ET vs PAA — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
PAA leads in 2 of 6 categories
EPD leads 1 • GEL leads 0 • ET leads 0 • 3 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
Evenly matched — GEL and ET each lead in 2 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ET is the larger business by revenue, generating $89.4B annually — 53.2x GEL's $1.7B. EPD is the more profitable business, keeping 11.0% of every revenue dollar as net income compared to GEL's 2.9%. On growth, ET holds the edge at +32.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||||
|---|---|---|---|---|
| RevenueTrailing 12 months | $1.7B | $52.6B | $89.4B | $44.3B |
| EBITDAEarnings before interest/tax | $550M | $9.7B | $15.5B | $2.4B |
| Net IncomeAfter-tax profit | $48M | $5.8B | $5.6B | $1.4B |
| Free Cash FlowCash after capex | $209M | $3.0B | $5.5B | $2.4B |
| Gross MarginGross profit ÷ Revenue | +16.8% | +13.6% | +22.9% | +3.3% |
| Operating MarginEBIT ÷ Revenue | +18.6% | +13.5% | +11.1% | +3.2% |
| Net MarginNet income ÷ Revenue | +2.9% | +11.0% | +6.2% | +3.2% |
| FCF MarginFCF ÷ Revenue | +12.5% | +5.6% | +6.2% | +5.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +12.1% | -2.9% | +32.1% | -19.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +103.9% | +2.7% | -2.8% | +14.0% |
Valuation Metrics
PAA leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
At 14.2x trailing earnings, EPD trades at a 53% valuation discount to PAA's 30.3x P/E. On an enterprise value basis, ET's 9.4x EV/EBITDA is more attractive than EPD's 12.1x.
| Metric | ||||
|---|---|---|---|---|
| Market CapShares × price | $2.0B | $81.6B | $68.5B | $15.6B |
| Enterprise ValueMkt cap + debt − cash | $5.1B | $115.2B | $138.9B | $23.2B |
| Trailing P/EPrice ÷ TTM EPS | -22.56x | 14.18x | 14.76x | 30.26x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.85x | 13.14x | 12.33x | 13.77x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.54x | — | — |
| EV / EBITDAEnterprise value multiple | 10.31x | 12.10x | 9.41x | 10.51x |
| Price / SalesMarket cap ÷ Revenue | 1.24x | 1.55x | 0.83x | 0.31x |
| Price / BookPrice ÷ Book value/share | 2.85x | 2.70x | 1.48x | 1.18x |
| Price / FCFMarket cap ÷ FCF | 22.83x | 27.51x | 17.82x | 8.33x |
Profitability & Efficiency
EPD leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
EPD delivers a 19.3% return on equity — every $100 of shareholder capital generates $19 in annual profit, vs $6 for GEL. PAA carries lower financial leverage with a 0.61x debt-to-equity ratio, signaling a more conservative balance sheet compared to GEL's 4.30x. On the Piotroski fundamental quality scale (0–9), EPD scores 6/9 vs PAA's 4/9, reflecting solid financial health.
| Metric | ||||
|---|---|---|---|---|
| ROE (TTM)Return on equity | +6.1% | +19.3% | +11.6% | +6.3% |
| ROA (TTM)Return on assets | +1.0% | +7.5% | +4.1% | +4.8% |
| ROICReturn on invested capital | +4.0% | +8.3% | +6.3% | +4.2% |
| ROCEReturn on capital employed | +5.0% | +10.9% | +7.9% | +5.4% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 | 5 | 4 |
| Debt / EquityFinancial leverage | 4.30x | 1.14x | 1.45x | 0.61x |
| Net DebtTotal debt minus cash | $3.0B | $33.7B | $70.3B | $7.6B |
| Cash & Equiv.Liquid assets | $6M | $1.2B | $1.3B | $348M |
| Total DebtShort + long-term debt | $3.0B | $34.9B | $71.6B | $7.9B |
| Interest CoverageEBIT ÷ Interest expense | 1.97x | 5.21x | 2.64x | 7.00x |
Total Returns (Dividends Reinvested)
PAA leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PAA five years ago would be worth $29,517 today (with dividends reinvested), compared to $20,572 for EPD. Over the past 12 months, PAA leads with a +41.8% total return vs GEL's +19.5%. The 3-year compound annual growth rate (CAGR) favors PAA at 27.5% vs EPD's 20.2% — a key indicator of consistent wealth creation.
| Metric | ||||
|---|---|---|---|---|
| YTD ReturnYear-to-date | +6.0% | +20.7% | +22.1% | +25.9% |
| 1-Year ReturnPast 12 months | +19.5% | +31.7% | +25.8% | +41.8% |
| 3-Year ReturnCumulative with dividends | +86.9% | +73.8% | +90.3% | +107.0% |
| 5-Year ReturnCumulative with dividends | +109.0% | +105.7% | +158.2% | +195.2% |
| 10-Year ReturnCumulative with dividends | -8.4% | +119.8% | +142.6% | +54.1% |
| CAGR (3Y)Annualised 3-year return | +23.2% | +20.2% | +23.9% | +27.5% |
Risk & Volatility
Evenly matched — EPD and ET each lead in 1 of 2 comparable metrics.
Risk & Volatility
EPD is the less volatile stock with a 0.06 beta — it tends to amplify market swings less than GEL's 0.32 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ET currently trades 96.4% from its 52-week high vs GEL's 88.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||||
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.32x | 0.06x | 0.19x | 0.11x |
| 52-Week HighHighest price in past year | $18.64 | $39.73 | $20.66 | $23.04 |
| 52-Week LowLowest price in past year | $13.21 | $29.90 | $16.18 | $15.69 |
| % of 52W HighCurrent price vs 52-week peak | +88.4% | +95.0% | +96.4% | +95.9% |
| RSI (14)Momentum oscillator 0–100 | 35.4 | 47.0 | 59.5 | 53.4 |
| Avg Volume (50D)Average daily shares traded | 246K | 4.1M | 14.8M | 3.4M |
Analyst Outlook
Evenly matched — EPD and ET each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: GEL as "Buy", EPD as "Buy", ET as "Buy", PAA as "Buy". Consensus price targets imply 21.4% upside for GEL (target: $20) vs -4.6% for ET (target: $19). For income investors, ET offers the higher dividend yield at 6.50% vs GEL's 4.01%.
| Metric | ||||
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $20.00 | $37.00 | $19.00 | $22.60 |
| # AnalystsCovering analysts | 16 | 45 | 32 | 42 |
| Dividend YieldAnnual dividend ÷ price | +4.0% | +5.7% | +6.5% | +5.7% |
| Dividend StreakConsecutive years of raises | 3 | 15 | 0 | 3 |
| Dividend / ShareAnnual DPS | $0.66 | $2.14 | $1.29 | $1.27 |
| Buyback YieldShare repurchases ÷ mkt cap | +13.0% | +0.4% | 0.0% | 0.0% |
PAA leads in 2 of 6 categories (Valuation Metrics, Total Returns). EPD leads in 1 (Profitability & Efficiency). 3 tied.
GEL vs EPD vs ET vs PAA: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is GEL or EPD or ET or PAA a better buy right now?
For growth investors, Plains All American Pipeline, L.
P. (PAA) is the stronger pick with 2. 8% revenue growth year-over-year, versus -45. 0% for Genesis Energy, L. P. (GEL). Enterprise Products Partners L. P. (EPD) offers the better valuation at 14. 2x trailing P/E (13. 1x forward), making it the more compelling value choice. Analysts rate Genesis Energy, L. P. (GEL) a "Buy" — based on 16 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — GEL or EPD or ET or PAA?
On trailing P/E, Enterprise Products Partners L.
P. (EPD) is the cheapest at 14. 2x versus Plains All American Pipeline, L. P. at 30. 3x. On forward P/E, Energy Transfer LP is actually cheaper at 12. 3x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — GEL or EPD or ET or PAA?
Over the past 5 years, Plains All American Pipeline, L.
P. (PAA) delivered a total return of +195. 2%, compared to +105. 7% for Enterprise Products Partners L. P. (EPD). Over 10 years, the gap is even starker: ET returned +142. 6% versus GEL's -8. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — GEL or EPD or ET or PAA?
By beta (market sensitivity over 5 years), Enterprise Products Partners L.
P. (EPD) is the lower-risk stock at 0. 06β versus Genesis Energy, L. P. 's 0. 32β — meaning GEL is approximately 409% more volatile than EPD relative to the S&P 500. On balance sheet safety, Plains All American Pipeline, L. P. (PAA) carries a lower debt/equity ratio of 61% versus 4% for Genesis Energy, L. P. — giving it more financial flexibility in a downturn.
05Which is growing faster — GEL or EPD or ET or PAA?
By revenue growth (latest reported year), Plains All American Pipeline, L.
P. (PAA) is pulling ahead at 2. 8% versus -45. 0% for Genesis Energy, L. P. (GEL). On earnings-per-share growth, the picture is similar: Genesis Energy, L. P. grew EPS 41. 1% year-over-year, compared to -47. 9% for Plains All American Pipeline, L. P.. Over a 3-year CAGR, PAA leads at 6. 0% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — GEL or EPD or ET or PAA?
Enterprise Products Partners L.
P. (EPD) is the more profitable company, earning 11. 1% net margin versus -0. 5% for Genesis Energy, L. P. — meaning it keeps 11. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GEL leads at 15. 8% versus 2. 4% for PAA. At the gross margin level — before operating expenses — ET leads at 21. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is GEL or EPD or ET or PAA more undervalued right now?
On forward earnings alone, Energy Transfer LP (ET) trades at 12.
3x forward P/E versus 20. 9x for Genesis Energy, L. P. — 8. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GEL: 21. 4% to $20. 00.
08Which pays a better dividend — GEL or EPD or ET or PAA?
All stocks in this comparison pay dividends.
Energy Transfer LP (ET) offers the highest yield at 6. 5%, versus 4. 0% for Genesis Energy, L. P. (GEL).
09Is GEL or EPD or ET or PAA better for a retirement portfolio?
For long-horizon retirement investors, Enterprise Products Partners L.
P. (EPD) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 06), 5. 7% yield, +119. 8% 10Y return). Both have compounded well over 10 years (EPD: +119. 8%, GEL: -8. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between GEL and EPD and ET and PAA?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: GEL is a small-cap income-oriented stock; EPD is a mid-cap deep-value stock; ET is a mid-cap deep-value stock; PAA is a mid-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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