Last 47 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Plains All American Pipeline, L.P.'s quarterly P/E stands at 9.4x. EV/EBITDA has compressed 67.0% YoY to 4.7x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 30.26 | 9.35 | 7.75 | 19.91 | 10.20 | — | 19.74 | 17.17 | 15.14 | 10.82 | 19.15 | 10.68 | 6.00 |
| — | — | -60.7% | +16.0% | -32.6% | — | +3.1% | +60.8% | +152.5% | +10.4% | +249.5% | -4.3% | -39.8% | |
| P/S Ratio | 0.31 | 0.32 | 0.26 | 0.30 | 0.29 | 0.24 | 0.24 | 0.25 | 0.26 | 0.21 | 0.22 | 0.21 | 0.18 |
| — | +30.4% | +8.4% | +23.3% | +14.2% | +15.9% | +7.7% | +15.7% | +45.5% | +32.0% | +73.4% | +101.3% | +27.3% | |
| P/B Ratio | 1.18 | 0.55 | 0.92 | 0.99 | 1.09 | 0.92 | 0.90 | 0.92 | 0.90 | 0.77 | 0.79 | 0.72 | 0.65 |
| — | -39.7% | +2.6% | +7.9% | +21.4% | +18.7% | +13.9% | +27.4% | +39.7% | +25.5% | +37.3% | +33.5% | +9.4% | |
| P/FCF | 8.33 | 4.04 | 4.75 | 5.60 | 7.86 | 5.36 | 5.71 | 5.42 | 11.75 | 3.10 | — | 3.31 | 3.50 |
| — | -24.6% | -16.8% | +3.2% | -33.1% | +72.8% | — | +63.8% | +235.2% | -71.1% | — | +35.1% | -55.8% | |
| EV / EBITDA | 10.51 | 4.68 | 7.17 | 12.01 | 7.12 | 14.21 | 8.18 | 9.59 | 8.05 | 6.53 | 9.47 | 6.75 | 5.65 |
| — | -67.0% | -12.4% | +25.2% | -11.6% | +117.7% | -13.6% | +42.1% | +42.5% | -66.1% | +111.6% | +13.5% | -29.2% | |
| EV / EBIT | 19.67 | — | 8.61 | 14.62 | 8.17 | 17.70 | 10.53 | 10.97 | 10.92 | 8.52 | 12.95 | 8.83 | 6.58 |
| — | — | -18.2% | +33.3% | -25.3% | +107.8% | -18.7% | +24.2% | +66.0% | -60.7% | +117.7% | -7.6% | -47.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Plains All American Pipeline, L.P.'s operating margin was 1.8% in Q4 2025, down 2.4 pp QoQ and up 1.1 pp YoY. The trailing four-quarter average of 3.2% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.4% | — | 4.1% | 3.4% | 5.2% | 2.7% | 96.2% | 3.2% | 3.9% | 4.0% | 2.8% | 4.0% | 3.3% |
| — | — | -95.7% | +5.4% | +32.9% | -30.7% | +3387.5% | -19.4% | +18.4% | -2.6% | -44.2% | -9.7% | -30.6% | |
| Operating Margin | 2.4% | 1.8% | 4.2% | 2.2% | 4.4% | 0.7% | 2.7% | 2.6% | 3.1% | 3.3% | 1.9% | 3.3% | 3.8% |
| — | +150.1% | +53.5% | -13.7% | +43.9% | -78.8% | +40.5% | -20.1% | -19.5% | +1240.8% | -55.6% | +29.7% | +79.1% | |
| Net Margin | 1.5% | 3.4% | 3.8% | 2.0% | 3.7% | 0.3% | 1.7% | 2.0% | 2.2% | 2.5% | 1.7% | 2.5% | 3.4% |
| — | +1074.4% | +120.6% | +0.7% | +66.3% | -88.2% | +2.7% | -22.4% | -35.1% | +21.0% | -37.2% | +103.5% | +150.4% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.8% | 1.9% | 3.4% | 1.6% | 3.4% | 0.3% | 1.6% | 1.8% | 1.9% | 2.3% | 1.5% | 2.2% | 3.1% |
| — | +604.5% | +109.5% | -11.4% | +75.7% | -88.2% | +8.5% | -15.1% | -38.3% | +13.3% | -50.4% | +36.3% | +116.0% | |
| ROA | 2.9% | 1.2% | 1.6% | 0.8% | 1.7% | 0.1% | 0.8% | 0.9% | 1.0% | 1.1% | 0.7% | 1.1% | 1.5% |
| — | +776.0% | +98.1% | -15.1% | +69.9% | -88.2% | +8.4% | -15.4% | -36.2% | +19.2% | -45.5% | +58.1% | +141.6% | |
| ROIC | 4.2% | 0.7% | 1.7% | 0.8% | 1.9% | 0.3% | 1.2% | 1.2% | 1.3% | 1.5% | 0.8% | 1.3% | 1.6% |
| — | +112.4% | +38.2% | -28.1% | +46.3% | -78.8% | +48.7% | -13.2% | -21.3% | +1211.1% | -62.9% | -5.6% | +65.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Plains All American Pipeline, L.P.'s Debt/EBITDA ratio is 0.5x, down from 13.5x last quarter — comfortably within a safe range. The current ratio has improved 2424.5% YoY to 24.49x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.01 | 0.74 | 0.68 | 0.70 | 0.61 | 0.61 | 0.61 | 0.60 | 0.58 | 0.61 | 0.61 | 0.62 |
| — | -98.5% | +21.8% | +12.7% | +17.3% | +3.7% | -0.3% | -0.3% | -3.3% | -11.8% | -10.9% | -13.1% | -14.1% | |
| Debt / EBITDA | 3.60 | 0.46 | 13.50 | 20.02 | 11.30 | 23.00 | 13.63 | 15.66 | 13.02 | 11.51 | 16.74 | 13.02 | 11.39 |
| — | -98.0% | -1.0% | +27.8% | -13.2% | +99.7% | -18.6% | +20.3% | +14.3% | -71.8% | +65.4% | -4.6% | -35.4% | |
| Current Ratio | 0.97 | 24.49 | 1.04 | 1.00 | 1.01 | 0.97 | 1.01 | 1.00 | 0.97 | 0.98 | 0.95 | 1.00 | 0.95 |
| — | +2424.5% | +3.4% | +0.5% | +3.8% | -1.2% | +5.8% | -0.5% | +1.9% | +8.0% | -9.0% | +3.3% | +1.0% | |
| Quick Ratio | 0.88 | 23.43 | 1.01 | 0.97 | 0.94 | 0.88 | 0.92 | 0.90 | 0.88 | 0.87 | 0.84 | 0.92 | 0.87 |
| — | +2558.3% | +9.2% | +7.3% | +6.1% | +1.0% | +9.6% | -2.0% | +1.8% | +11.1% | -9.8% | +3.4% | -1.7% | |
| Interest Coverage | 2.74 | — | 3.59 | 1.80 | 4.20 | 0.79 | 3.07 | 2.99 | 3.89 | 4.43 | 2.41 | 3.98 | 4.83 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Plains All American Pipeline, L.P.'s current P/E is 30.3x. The average P/E over the last 4 quarters is 11.8x. 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 2.4%. 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.