Plains All American Pipeline, L.P.(PAA)Earnings, Financials & Key Ratios

PAA•NASDAQ

$22.58

$15.93B mkt cap·30.9× P/E·Price updated May 6, 2026

SectorEnergy IndustryMidstream Oil & Gas Sub-IndustryCrude Oil Pipelines and Terminals

AboutPlains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars. This segment provides terminalling, storage, and other facilities-related services, as well as merchant activities. As of December 31, 2021, this segment owned and leased 18,300 miles of active crude oil transportation pipelines and gathering systems, as well as an additional 110 miles of pipelines that supports crude oil storage and terminalling facilities; 74 million barrels of commercial crude oil storage capacity; 38 million barrels of active, above-ground tank capacity; four marine facilities; a condensate processing facility; seven crude oil rail terminals and 2,100 crude oil railcars; and 640 trucks and 1,275 trailers. The Natural Gas Liquids segment engages in the natural gas processing, NGL fractionation, storage, transportation, and terminalling activities. As of December 31, 2021, this segment owned and operated four natural gas processing plants; nine fractionation plants; 28 million barrels of NGL storage capacity; approximately 1,620 miles of active NGL transportation pipelines, as well as an additional 55 miles of pipeline that supports NGL storage facilities; 16 NGL rail terminals and approximately 3,900 NGL rail cars; and approximately 220 trailers. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.Show more

Revenue$50.07B+2.8%
EBITDA$2.2B-13.8%
Net Income$772M-37.2%
EPS (Diluted)0.73-47.9%
Gross Margin3.43%-39.3%
EBITDA Margin4.4%-16.2%
Operating Margin2.35%-24.1%
Net Margin1.54%-38.9%
ROE5.76%-36.7%
ROIC4.21%-20.0%
Debt/Equity0.61+3.7%
Interest Coverage2.74-30.0%

Analysis→Technical→

PAA Key Insights

Plains All American Pipeline, L.P. (PAA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 5.6%
✓Trading near 52-week high
✓Trading at only 1.2x book value
✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

✗Profits declining 18.7% over 5 years
✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

PAA Price & Volume

Plains All American Pipeline, L.P. (PAA) stock price & volume — 10-year historical chart

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PAA Growth Metrics

Plains All American Pipeline, L.P. (PAA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.43%

5 Years8.26%

3 Years5.97%

TTM-11.29%

Profit CAGR

10 Years-5.67%

5 Years-18.68%

3 Years9.19%

TTM86.01%

EPS CAGR

10 Years-11.15%

5 Years-22.73%

3 Years9.9%

TTM138.71%

Return on Capital

10 Years4.83%

5 Years2.23%

3 Years6%

Last Year5.36%

PAA Recent Earnings

Plains All American Pipeline, L.P. (PAA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 9/12 qtrs (75%)●Beat Revenue 2/12 qtrs (17%)

Q1 2026Latest

Feb 6, 2026

EPS

$0.40

Est $0.47

-14.9%

Revenue

$10.6B

Est $12.9B

-17.8%

Q4 2025

Nov 5, 2025

EPS

$0.39

Est $0.35

+9.9%

Revenue

$11.6B

Est $12.5B

-7.5%

Q3 2025

Aug 8, 2025

EPS

$0.36

Est $0.32

+11.0%

Revenue

$10.6B

Est $13.4B

-20.7%

Q2 2025

May 9, 2025

EPS

$0.39

Est $0.44

-10.5%

Revenue

$12.0B

Est $14.1B

-15.0%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Feb 6, 2026	$0.40vs $0.47-14.9%	$10.6Bvs $12.9B-17.8%
Q4 2025	Nov 5, 2025	$0.39vs $0.35+9.9%	$11.6Bvs $12.5B-7.5%
Q3 2025	Aug 8, 2025	$0.36vs $0.32+11.0%	$10.6Bvs $13.4B-20.7%
Q2 2025	May 9, 2025	$0.39vs $0.44-10.5%	$12.0Bvs $14.1B-15.0%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
EPDEnterprise Products Partners L.P.Direct Competitor	83.23B	38.50	14.47	-6.44%	11.03%	19.29%	3.56%	1.14
ETEnergy Transfer LPDirect Competitor	70.15B	20.39	15.10	-0.05%	5.93%	10.38%	5.48%	1.45
MPLXMPLX LpDirect Competitor	56.51B	55.66	11.55	8.37%	37.54%	32.81%	7.26%	1.80
WESWestern Midstream Partners, LPDirect Competitor	17.45B	42.77	14.07	6.61%	30.73%	27.43%	8.39%	0.10
PAGPPlains GP Holdings, L.P.Direct Competitor	4.79B	24.21	46.56	2.79%	1.22%	2.35%	38.49%	0.55
KMIKinder Morgan, Inc.Product Competitor	71.84B	32.29	23.57	12.45%	18.92%	10.27%	4.48%	1.00
OKEONEOK, Inc.Product Competitor	56.72B	90.02	16.61	55.42%	10.04%	15.86%	4.31%	1.45
TRGPTarga Resources Corp.Product Competitor	55.8B	259.72	30.48	3.06%	9.44%	58.24%	7.02%	5.45

Compare PAA vs Peers

Plains All American Pipeline, L.P. (PAA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EPD

Most directly comparable listed peer for PAA.

Scale Benchmark

vs CVX

Larger-name benchmark to compare PAA against a more recognizable public peer.

Peer Set

Compare Top 5

vs EPD, ET, MPLX, WES

PAA Income Statement

Plains All American Pipeline, L.P. (PAA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	20.18B	26.22B	34.05B	33.67B	23.29B	42.08B	57.34B	48.71B	50.07B	44.26B
Revenue Growth %	-12.83%	29.93%	29.87%	-1.13%	-30.83%	80.67%	36.28%	-15.05%	2.79%	-11.29%
Cost of Goods Sold	18.91B	24.79B	31.58B	31.36B	22.16B	40.34B	55.46B	45.96B	48.35B	32.77B
COGS % of Revenue	93.69%	94.55%	92.72%	93.13%	95.15%	95.88%	96.71%	94.34%	96.57%	-
Gross Profit	1.27B▲ 0%	1.43B▲ 12.3%	2.48B▲ 73.5%	2.31B▼ 6.7%	1.13B▼ 51.1%	1.74B▲ 53.5%	1.89B▲ 8.7%	2.76B▲ 46.1%	1.72B▼ 37.6%	1.46B▲ 0%
Gross Margin %	6.31%	5.45%	7.28%	6.87%	4.85%	4.12%	3.29%	5.66%	3.43%	3.29%
Gross Profit Growth %	-17.34%	12.25%	73.48%	-6.7%	-51.15%	53.54%	8.7%	46.13%	-37.63%	-
Operating Expenses	279M	276M	316M	325M	3.5B	884M	594M	1.25B	541M	342M
OpEx % of Revenue	1.38%	1.05%	0.93%	0.97%	15.05%	2.1%	1.04%	2.56%	1.08%	-
Selling, General & Admin	279M	276M	316M	297M	271M	292M	325M	350M	381M	357M
SG&A % of Revenue	1.38%	1.05%	0.93%	0.88%	1.16%	0.69%	0.57%	0.72%	0.76%	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	28M	3.23B	592M	269M	896M	160M	0
Operating Income	994M▲ 0%	1.15B▲ 16.0%	2.28B▲ 97.5%	1.99B▼ 12.7%	-2.38B▼ 219.5%	851M▲ 135.8%	1.29B▲ 51.8%	1.51B▲ 16.9%	1.18B▼ 22.0%	1.43B▲ 0%
Operating Margin %	4.93%	4.4%	6.69%	5.9%	-10.2%	2.02%	2.25%	3.1%	2.35%	3.24%
Operating Income Growth %	-21.24%	16%	97.48%	-12.69%	-219.47%	135.83%	51.82%	16.87%	-21.99%	-
EBITDA	1.49B	1.78B	2.8B	2.59B	-1.72B	1.63B	2.26B	2.56B	2.2B	2.39B
EBITDA Margin %	7.37%	6.77%	8.21%	7.69%	-7.39%	3.86%	3.94%	5.25%	4.4%	5.39%
EBITDA Growth %	-12.16%	19.35%	57.49%	-7.44%	-166.51%	194.37%	38.89%	13.34%	-13.84%	13.61%
D&A (Non-Cash Add-back)	494M	623M	520M	601M	653M	774M	965M	1.05B	1.03B	953M
EBIT	1.22B	1.38B	2.85B	2.67B	-2.16B	1.15B	1.82B	2.01B	1.71B	1.65B
Net Interest Income	-467M	-510M	-431M	-425M	-436M	-425M	-405M	-386M	-360M	-324M
Interest Income	0	0	0	0	0	0	0	0	70M	71M
Interest Expense	467M	510M	431M	425M	436M	425M	405M	386M	430M	236M
Other Income/Expense	-239M	-251M	137M	258M	-224M	-130M	125M	113M	102M	-33M
Pretax Income	755M▲ 0%	902M▲ 19.5%	2.41B▲ 167.6%	2.25B▼ 7.0%	-2.6B▼ 215.7%	721M▲ 127.7%	1.42B▲ 96.5%	1.62B▲ 14.5%	1.28B▼ 21.1%	1.4B▲ 0%
Pretax Margin %	3.74%	3.44%	7.09%	6.67%	-11.16%	1.71%	2.47%	3.33%	2.56%	3.17%
Income Tax	25M	44M	198M	66M	-19M	73M	189M	121M	167M	70M
Effective Tax Rate %	3.31%	4.88%	8.2%	2.94%	0.73%	10.12%	13.34%	7.46%	13.05%	5%
Net Income	726M▲ 0%	856M▲ 17.9%	2.22B▲ 158.9%	2.17B▼ 2.0%	-2.59B▼ 219.3%	593M▲ 122.9%	1.04B▲ 74.9%	1.23B▲ 18.6%	772M▼ 37.2%	1.44B▲ 0%
Net Margin %	3.6%	3.26%	6.51%	6.45%	-11.12%	1.41%	1.81%	2.53%	1.54%	3.24%
Net Income Growth %	-19.6%	17.91%	158.88%	-2.03%	-219.3%	122.9%	74.87%	18.61%	-37.24%	86.01%
Net Income (Continuing)	730M	858M	2.22B	2.18B	-2.58B	648M	1.23B	1.5B	1.11B	1.2B
Discontinued Operations	0	0	0	0	0	0	0	0	0	2M
Minority Interest	57M	0	0	133M	145M	2.84B	3.27B	3.31B	3.28B	9.84B
EPS (Diluted)	0.43▲ 0%	0.95▲ 120.9%	2.77▲ 191.6%	2.65▼ 4.3%	-3.83▼ 244.5%	0.55▲ 114.4%	1.19▲ 116.4%	1.40▲ 17.6%	0.73▼ 47.9%	2.03▲ 0%
EPS Growth %	-44.16%	120.93%	191.58%	-4.33%	-244.53%	114.36%	116.36%	17.65%	-47.86%	138.71%
EPS (Basic)	0.43	0.96	2.77	2.71	-3.83	0.55	1.19	1.40	0.73	-
Diluted Shares Outstanding	466M	718M	799M	800M	728M	716M	701M	699M	702M	706M
Basic Shares Outstanding	464M	717M	799M	727M	728M	716M	701M	699M	702M	706M
Dividend Payout Ratio	146.28%	161.92%	39.31%	46.25%	-	87.18%	56.32%	60.81%	115.41%	-

PAA Balance Sheet

Plains All American Pipeline, L.P. (PAA) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	4.27B	4B	3.53B	4.61B	3.67B	6.14B	5.36B	4.91B	4.8B	4.95B
Cash & Short-Term Investments	47M	37M	66M	45M	22M	449M	401M	450M	348M	4.73B
Cash Only	47M	37M	66M	45M	22M	449M	401M	450M	348M	4.73B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.28B	3.03B	2.45B	3.61B	2.55B	4.71B	3.91B	3.76B	3.9B	0
Days Sales Outstanding	41.22	42.16	26.3	39.18	40.01	40.81	24.87	28.17	28.44	22.69
Inventory	1.34B	713M	640M	604M	647M	783M	729M	548M	439M	214M
Days Inventory Outstanding	25.92	10.5	7.4	7.03	10.66	7.08	4.8	4.35	3.31	2.46
Other Current Assets	603M	221M	373M	349M	443M	200M	318M	155M	114M	0
Total Non-Current Assets	19.94B	21.35B	21.98B	24.07B	20.83B	22.47B	22.54B	22.44B	21.76B	18.81B
Property, Plant & Equipment	13.87B	14.09B	14.79B	15.82B	14.99B	15.3B	15.6B	16.09B	15.76B	17.06B
Fixed Asset Turnover	1.45x	1.86x	2.30x	2.13x	1.55x	2.75x	3.68x	3.03x	3.18x	2.85x
Goodwill	2.34B	2.57B	2.52B	2.54B	0	0	0	0	0	0
Intangible Assets	242M	844M	772M	707M	805M	1.96B	2.15B	1.88B	1.68B	1.75B
Long-Term Investments	2.34B	2.76B	2.7B	3.68B	3.76B	3.81B	3.08B	2.82B	2.81B	8.33B
Other Non-Current Assets	1.14B	1.1B	1.2B	1.31B	1.27B	1.41B	1.71B	1.65B	1.52B	9.03B
Total Assets	24.21B▲ 0%	25.35B▲ 4.7%	25.51B▲ 0.6%	28.68B▲ 12.4%	24.5B▼ 14.6%	28.61B▲ 16.8%	27.89B▼ 2.5%	27.36B▼ 1.9%	26.56B▼ 2.9%	30.17B▲ 0%
Asset Turnover	0.83x	1.03x	1.33x	1.17x	0.95x	1.47x	2.06x	1.78x	1.89x	1.57x
Asset Growth %	8.62%	4.71%	0.63%	12.41%	-14.58%	16.79%	-2.51%	-1.93%	-2.9%	14.89%
Total Current Liabilities	4.66B	4.53B	3.46B	5.02B	4.25B	6.23B	5.89B	5B	4.95B	202M
Accounts Payable	2.59B	3.32B	2.7B	3.69B	2.44B	4.81B	4.04B	3.84B	3.88B	0
Days Payables Outstanding	49.96	48.92	31.26	42.91	40.14	43.52	26.62	30.53	29.3	29.72
Short-Term Debt	1.72B	737M	66M	486M	831M	822M	1.16B	446M	408M	202M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	361M	471M	686M	733M	907M	523M	617M	713M	661M	0
Current Ratio	0.92x	0.88x	1.02x	0.92x	0.86x	0.98x	0.91x	0.98x	0.97x	0.97x
Quick Ratio	0.63x	0.73x	0.84x	0.80x	0.71x	0.86x	0.79x	0.87x	0.88x	0.88x
Cash Conversion Cycle	17.18	3.74	2.44	3.3	10.53	4.38	3.05	2	2.45	-4.57
Total Non-Current Liabilities	10.73B	9.86B	10.05B	10.46B	10.51B	9.57B	8.68B	8.62B	8.52B	16.89B
Long-Term Debt	10.12B	9.18B	9.14B	9.14B	9.31B	8.4B	7.29B	7.3B	7.21B	0
Capital Lease Obligations	0	0	0	436M	387M	339M	308M	274M	313M	679M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	606M	679M	910M	891M	807M	830M	1.08B	1.04B	990M	20.14B
Total Liabilities	15.39B	14.39B	13.51B	15.48B	14.76B	15.8B	14.57B	13.62B	13.47B	17.09B
Total Debt	11.84B	9.92B	9.21B	10.17B	10.61B	9.64B	8.82B	8.03B	7.93B	202M
Net Debt	11.79B	9.88B	9.14B	10.13B	10.59B	9.19B	8.42B	7.58B	7.59B	-4.53B
Debt / Equity	1.34x	0.91x	0.77x	0.77x	1.09x	0.75x	0.66x	0.58x	0.61x	0.61x
Debt / EBITDA	7.96x	5.59x	3.29x	3.93x	-	5.93x	3.91x	3.14x	3.60x	0.08x
Net Debt / EBITDA	7.92x	5.56x	3.27x	3.91x	-	5.65x	3.73x	2.96x	3.44x	3.44x
Interest Coverage	2.13x	2.26x	5.28x	4.68x	-5.45x	2.00x	3.19x	3.91x	2.74x	7.00x
Total Equity	8.82B▲ 0%	10.96B▲ 24.3%	12B▲ 9.5%	13.2B▲ 9.9%	9.74B▼ 26.2%	12.81B▲ 31.5%	13.32B▲ 4.0%	13.73B▲ 3.1%	13.1B▼ 4.6%	22.92B▲ 0%
Equity Growth %	11.05%	24.3%	9.53%	9.94%	-26.2%	31.55%	4.02%	3.05%	-4.63%	60.58%
Book Value per Share	18.92	15.26	15.02	16.49	13.38	17.89	19.01	19.65	18.66	32.46
Total Shareholders' Equity	8.76B	10.96B	12B	13.06B	9.59B	9.97B	10.06B	10.42B	9.81B	13.08B
Common Stock	7.25B	8.66B	9.71B	10.77B	7.3B	7.68B	7.76B	8.13B	7.51B	0
Retained Earnings	0	0	0	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	57M	0	0	133M	145M	2.84B	3.27B	3.31B	3.28B	9.84B

PAA Cash Flow Statement

Plains All American Pipeline, L.P. (PAA) cash flow — operating, investing & free cash flow history

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	726M	2.5B	2.61B	2.5B	1.51B	2B	2.41B	2.73B	2.49B	2.49B
Operating CF Margin %	3.6%	9.53%	7.66%	7.44%	6.5%	4.74%	4.2%	5.6%	4.97%	-
Operating CF Growth %	-45.98%	244.21%	4.36%	-3.99%	-39.54%	31.84%	20.64%	13.25%	-8.69%	85%
Net Income	730M	858M	2.22B	2.18B	-2.58B	648M	1.23B	1.5B	1.11B	1.44B
Depreciation & Amortization	494M	626M	520M	601M	653M	774M	965M	1.05B	1.03B	696M
Stock-Based Compensation	60M	41M	79M	34M	15M	23M	40M	50M	50M	0
Deferred Taxes	-60M	16M	132M	-46M	-70M	23M	105M	-24M	-28M	6M
Other Non-Cash Items	-12M	17M	-206M	-253M	3.65B	755M	261M	-43M	255M	1.15B
Working Capital Changes	-486M	941M	-133M	-12M	-158M	-227M	-191M	194M	74M	18M
Change in Receivables	-524M	-511M	309M	-1.16B	1.43B	-2.18B	649M	213M	94M	0
Change in Inventory	-463M	605M	-75M	-5M	-304M	-18M	-10M	223M	70M	0
Change in Payables	501M	847M	-367M	1.15B	0	1.97B	-830M	-242M	-90M	0
Cash from Investing	-1.27B	-1.57B	-813M	-1.76B	-1.09B	386M	-526M	-702M	-1.5B	-3.77B
Capital Expenditures	-1.33B	-1.02B	-1.63B	-1.18B	-738M	-336M	-455M	-559M	-619M	-495M
CapEx % of Revenue	6.61%	3.91%	4.8%	3.51%	3.17%	0.8%	0.79%	1.15%	1.24%	-
Acquisitions	-583M	-1.68B	-458M	-574M	-771M	-126M	-163M	-458M	-252M	-865M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	644M	1.13B	1.28B	-10M	416M	848M	92M	315M	-633M	-2.41B
Cash from Financing	563M	-943M	-1.76B	-720M	-435M	-1.98B	-1.93B	-1.98B	-1.08B	500M
Debt Issued (Net)	-633M	-2B	-701M	416M	427M	-912M	-750M	-667M	489M	2.18B
Equity Issued (Net)	1000K	1000K	0	0	-1000K	-1000K	-1000K	0	0	-1000K
Dividends Paid	-1.06B	-1.39B	-1.03B	-1.2B	-853M	-715M	-782M	-989M	-1.15B	-973M
Share Repurchases	0	0	0	0	-50M	-178M	-74M	0	0	341M
Other Financing	-156M	788M	-24M	66M	41M	-179M	-325M	-320M	-421M	-377M
Net Change in Cash	20M▲ 0%	-10M▼ 150.0%	29M▲ 390.0%	16M▼ 44.8%	-22M▼ 237.5%	393M▲ 1886.4%	-52M▼ 113.2%	49M▲ 194.2%	-102M▼ 308.2%	832M▲ 0%
Free Cash Flow	-608M▲ 0%	1.48B▲ 342.6%	974M▼ 34.0%	1.32B▲ 35.8%	776M▼ 41.3%	1.66B▲ 113.9%	1.95B▲ 17.7%	2.17B▲ 11.0%	1.87B▼ 13.7%	2.44B▲ 0%
FCF Margin %	-3.01%	5.62%	2.86%	3.93%	3.33%	3.95%	3.41%	4.45%	3.74%	5.51%
FCF Growth %	17.28%	342.6%	-33.97%	35.83%	-41.35%	113.92%	17.65%	11.01%	-13.7%	26.16%
FCF per Share	-1.30	2.05	1.22	1.65	1.07	2.32	2.79	3.10	2.67	2.67
FCF Conversion (FCF/Net Income)	1.00x	2.92x	1.18x	1.15x	-0.58x	3.37x	2.32x	2.22x	3.23x	1.70x
Interest Paid	450M	486M	400M	397M	428M	401M	393M	377M	381M	382M
Taxes Paid	98M	50M	21M	136M	111M	76M	112M	69M	269M	80M

PAA Key Ratios

Plains All American Pipeline, L.P. (PAA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	TTM
Return on Equity (ROE)	8.67%	8.66%	19.3%	17.23%	-22.59%	5.26%	7.94%	9.09%	5.76%	6.27%
Return on Invested Capital (ROIC)	3.74%	4.17%	8.13%	6.71%	-8.16%	3.02%	4.43%	5.26%	4.21%	4.21%
Gross Margin	6.31%	5.45%	7.28%	6.87%	4.85%	4.12%	3.29%	5.66%	3.43%	3.29%
Net Margin	3.6%	3.26%	6.51%	6.45%	-11.12%	1.41%	1.81%	2.53%	1.54%	3.24%
Debt / Equity	1.34x	0.91x	0.77x	0.77x	1.09x	0.75x	0.66x	0.58x	0.61x	0.61x
Interest Coverage	2.13x	2.26x	5.28x	4.68x	-5.45x	2.00x	3.19x	3.91x	2.74x	7.00x
FCF Conversion	1.00x	2.92x	1.18x	1.15x	-0.58x	3.37x	2.32x	2.22x	3.23x	1.70x
Revenue Growth	-12.83%	29.93%	29.87%	-1.13%	-30.83%	80.67%	36.28%	-15.05%	2.79%	-11.29%

PAA SEC Filings & Documents

Plains All American Pipeline, L.P. (PAA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Mar 3, 2026·SEC

Material company update

Feb 6, 2026·SEC

Material company update

Dec 3, 2025·SEC

10-K Annual Reports

FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 9, 2025·SEC

PAA Frequently Asked Questions

Plains All American Pipeline, L.P. (PAA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Plains All American Pipeline, L.P. (PAA) reported $44.26B in revenue for fiscal year 2024. This represents a 5782% increase from $752.5M in 1997.

Plains All American Pipeline, L.P. (PAA) grew revenue by 2.8% over the past year. Growth has been modest.

Yes, Plains All American Pipeline, L.P. (PAA) is profitable, generating $1.44B in net income for fiscal year 2024 (1.5% net margin).

Dividend & Returns

Yes, Plains All American Pipeline, L.P. (PAA) pays a dividend with a yield of 5.62%. This makes it attractive for income-focused investors.

Plains All American Pipeline, L.P. (PAA) has a return on equity (ROE) of 5.8%. This is below average, suggesting room for improvement.

Plains All American Pipeline, L.P. (PAA) generated $2.44B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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