Last 47 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.60 | 2.22 | 39.87 | 10.95 | 7.75 | 19.91 | 10.20 | — | 19.74 | 17.17 | 15.14 | 10.82 | 19.15 | 10.68 | 6.00 | 9.80 | 5.48 | 11.16 | 9.96 | 4.17 | — |
| — | -88.9% | +290.8% | — | -60.7% | +16.0% | -32.6% | — | +3.1% | +60.8% | +152.5% | +10.4% | +249.5% | -4.3% | -39.8% | +135.0% | — | — | +123.3% | — | — | |
| P/S Ratio | 0.41 | 0.22 | 0.32 | 0.30 | 0.26 | 0.30 | 0.29 | 0.24 | 0.24 | 0.25 | 0.26 | 0.21 | 0.22 | 0.21 | 0.18 | 0.16 | 0.13 | 0.11 | 0.14 | 0.13 | 0.17 |
| — | -26.6% | +8.6% | +23.8% | +8.4% | +23.3% | +14.2% | +15.9% | +7.7% | +15.7% | +45.5% | +32.0% | +73.4% | +101.3% | +27.3% | +24.3% | -24.1% | -48.8% | -29.3% | -49.2% | -9.6% | |
| P/B Ratio | 1.39 | 1.10 | 1.23 | 0.97 | 0.92 | 0.99 | 1.09 | 0.92 | 0.90 | 0.92 | 0.90 | 0.77 | 0.79 | 0.72 | 0.65 | 0.62 | 0.58 | 0.54 | 0.59 | 0.52 | 0.78 |
| — | +10.6% | +12.3% | +5.6% | +2.6% | +7.9% | +21.4% | +18.7% | +13.9% | +27.4% | +39.7% | +25.5% | +37.3% | +33.5% | +9.4% | +19.2% | -26.3% | -36.1% | -9.4% | -15.9% | +77.0% | |
| P/FCF | 7.97 | 4.81 | 13.68 | 4.97 | 4.75 | 5.60 | 7.86 | 5.36 | 5.71 | 5.42 | 11.75 | 3.10 | — | 3.31 | 3.50 | 10.74 | 2.24 | 2.45 | 7.93 | 2.98 | 6.99 |
| — | -14.1% | +74.2% | -7.3% | -16.8% | +3.2% | -33.1% | +72.8% | — | +63.8% | +235.2% | -71.1% | — | +35.1% | -55.8% | +260.8% | -68.0% | -82.0% | +235.3% | -74.9% | -4.9% | |
| EV / EBITDA | 10.41 | 9.10 | 13.37 | 7.88 | 7.17 | 12.01 | 7.12 | 14.21 | 8.18 | 9.59 | 8.05 | 6.53 | 9.47 | 6.75 | 5.65 | 19.25 | 4.47 | 5.95 | 7.98 | 4.81 | 29.86 |
| — | -24.3% | +87.9% | -44.6% | -12.4% | +25.2% | -11.6% | +117.7% | -13.6% | +42.1% | +42.5% | -66.1% | +111.6% | +13.5% | -29.2% | +300.4% | -85.0% | — | +36.5% | -89.0% | +232.5% | |
| EV / EBIT | 17.32 | 11.01 | 13.53 | 9.98 | 8.61 | 14.62 | 8.17 | 17.70 | 10.53 | 10.97 | 10.92 | 8.52 | 12.95 | 8.83 | 6.58 | 21.66 | 5.95 | 9.56 | 12.42 | 5.72 | 22.68 |
| — | -24.7% | +65.7% | -43.6% | -18.2% | +33.3% | -25.3% | +107.8% | -18.7% | +24.2% | +66.0% | -60.7% | +117.7% | -7.6% | -47.0% | +278.6% | -73.8% | -72.2% | +59.6% | -62.7% | +53.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 6.0% | 4.6% | 2.8% | 6.7% | 4.1% | 3.4% | 5.2% | 2.7% | 96.2% | 3.2% | 3.9% | 4.0% | 2.8% | 4.0% | 3.3% | 4.1% | 4.9% | 4.4% | 4.7% | 5.3% | 4.0% |
| — | +34.0% | -45.9% | +145.1% | -95.7% | +5.4% | +32.9% | -30.7% | +3387.5% | -19.4% | +18.4% | -2.6% | -44.2% | -9.7% | -30.6% | -22.8% | +24.5% | +10.2% | -48.6% | -37.0% | -50.9% | |
| Operating Margin | 3.2% | 2.2% | 2.1% | 3.4% | 4.2% | 2.2% | 4.4% | 0.7% | 2.7% | 2.6% | 3.1% | 3.3% | 1.9% | 3.3% | 3.8% | -0.3% | 4.4% | 2.5% | 2.1% | 4.6% | -0.4% |
| — | +0.2% | -51.8% | +372.2% | +53.5% | -13.7% | +43.9% | -78.8% | +40.5% | -20.1% | -19.5% | +1240.8% | -55.6% | +29.7% | +79.1% | -106.4% | +1338.4% | +205.7% | -65.9% | +523.0% | -108.1% | |
| Net Margin | 3.2% | 10.3% | 1.2% | 3.2% | 3.8% | 2.0% | 3.7% | 0.3% | 1.7% | 2.0% | 2.2% | 2.5% | 1.7% | 2.5% | 3.4% | 2.0% | 2.7% | 1.2% | 1.4% | 3.5% | -0.5% |
| — | +424.2% | -66.7% | +1015.2% | +120.6% | +0.7% | +66.3% | -88.2% | +2.7% | -22.4% | -35.1% | +21.0% | -37.2% | +103.5% | +150.4% | -41.4% | +589.2% | +156.0% | -72.9% | +837.8% | -122.3% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 13.5% | 1.2% | 2.6% | 3.4% | 1.6% | 3.4% | 0.3% | 1.6% | 1.8% | 1.9% | 2.3% | 1.5% | 2.2% | 3.1% | 2.0% | 3.0% | 1.6% | 1.5% | 4.1% | -0.6% |
| — | +729.6% | -65.6% | +870.3% | +109.5% | -11.4% | +75.7% | -88.2% | +8.5% | -15.1% | -38.3% | +13.3% | -50.4% | +36.3% | +116.0% | -50.4% | +584.1% | +171.2% | -65.8% | +1524.0% | -142.8% | |
| ROA | 5.1% | 6.0% | 0.5% | 1.2% | 1.6% | 0.8% | 1.7% | 0.1% | 0.8% | 0.9% | 1.0% | 1.1% | 0.7% | 1.1% | 1.5% | 1.0% | 1.4% | 0.7% | 0.6% | 1.7% | -0.2% |
| — | +676.4% | -70.2% | +776.0% | +98.1% | -15.1% | +69.9% | -88.2% | +8.4% | -15.4% | -36.2% | +19.2% | -45.5% | +58.1% | +141.6% | -44.2% | +672.7% | +178.6% | -62.7% | +1583.4% | -140.2% | |
| ROIC | 5.3% | 1.3% | 0.9% | 1.3% | 1.7% | 0.8% | 1.9% | 0.3% | 1.2% | 1.2% | 1.3% | 1.5% | 0.8% | 1.3% | 1.6% | -0.1% | 2.2% | 1.4% | 1.0% | 2.2% | -0.1% |
| — | +54.5% | -52.3% | +309.4% | +38.2% | -28.1% | +46.3% | -78.8% | +48.7% | -13.2% | -21.3% | +1211.1% | -62.9% | -5.6% | +65.0% | -106.0% | +1596.6% | +259.5% | -49.0% | +1022.3% | -115.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.86 | 0.60 | 0.90 | 0.86 | 0.74 | 0.68 | 0.70 | 0.61 | 0.61 | 0.61 | 0.60 | 0.58 | 0.61 | 0.61 | 0.62 | 0.66 | 0.69 | 0.70 | 0.72 | 0.75 | 1.02 |
| — | -11.8% | +29.3% | +42.6% | +21.8% | +12.7% | +17.3% | +3.7% | -0.3% | -0.3% | -3.3% | -11.8% | -10.9% | -13.1% | -14.1% | -12.0% | -33.0% | -33.2% | -26.9% | -30.9% | -4.0% | |
| Debt / EBITDA | 4.73 | 13.49 | 22.79 | 18.50 | 13.50 | 20.02 | 11.30 | 23.00 | 13.63 | 15.66 | 13.02 | 11.51 | 16.74 | 13.02 | 11.39 | 40.86 | 10.12 | 13.66 | 17.62 | 11.72 | 68.50 |
| — | -32.6% | +101.7% | -19.6% | -1.0% | +27.8% | -13.2% | +99.7% | -18.6% | +20.3% | +14.3% | -71.8% | +65.4% | -4.6% | -35.4% | +248.5% | -85.2% | — | +25.2% | -89.5% | +169.2% | |
| Current Ratio | 0.96 | 1.12 | 0.94 | 0.96 | 1.04 | 1.00 | 1.01 | 0.97 | 1.01 | 1.00 | 0.97 | 0.98 | 0.95 | 1.00 | 0.95 | 0.91 | 1.05 | 0.97 | 0.94 | 0.98 | 0.90 |
| — | +11.4% | -6.7% | -1.1% | +3.4% | +0.5% | +3.8% | -1.2% | +5.8% | -0.5% | +1.9% | +8.0% | -9.0% | +3.3% | +1.0% | -7.7% | +15.7% | +5.2% | -0.1% | +14.3% | +0.9% | |
| Quick Ratio | 0.96 | 1.10 | 0.88 | 0.96 | 1.01 | 0.97 | 0.94 | 0.88 | 0.92 | 0.90 | 0.88 | 0.87 | 0.84 | 0.92 | 0.87 | 0.79 | 0.93 | 0.89 | 0.88 | 0.86 | 0.78 |
| — | +13.6% | -5.8% | +8.9% | +9.2% | +7.3% | +6.1% | +1.0% | +9.6% | -2.0% | +1.8% | +11.1% | -9.8% | +3.4% | -1.7% | -8.6% | +20.0% | +10.0% | +4.9% | +21.1% | +8.6% | |
| Interest Coverage | 3.53 | 3.46 | 3.01 | 3.03 | 4.40 | 2.74 | 5.46 | 2.47 | 4.16 | 4.15 | 4.84 | 5.56 | 3.73 | 5.13 | 6.39 | 1.92 | 6.57 | 4.11 | 3.14 | 6.52 | 1.73 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying PAA stock.
Plains All American Pipeline, L.P.'s current P/E is 15.6x. The average P/E over the last 4 quarters is 15.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Plains All American Pipeline, L.P.'s current operating margin is 3.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Plains All American Pipeline, L.P.'s business trajectory between earnings reports.