Plains All American Pipeline, L.P. (PAA) P/E Ratio History
Historical price-to-earnings valuation from 2000 to 2025
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PAA Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Plains All American Pipeline, L.P. (PAA) trades at a price-to-earnings ratio of 30.4x, with a stock price of $22.17 and trailing twelve-month earnings per share of $2.03.
The current P/E is 48% above its 5-year average of 20.5x. Over the past five years, PAA's P/E has ranged from a low of 6.9x to a high of 128.9x, placing the current valuation at the 90th percentile of its historical range.
Compared to the Energy sector median P/E of 16.9x, PAA trades at a 80% premium to its sector peers. The sector includes 174 companies with P/E ratios ranging from 3.2x to 190.3x.
Relative to the broader market, PAA commands a significant premium over the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our PAA DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
PAA P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $81B | 14.1 | 1.53 | -1% | |
| $68B | 14.7 | - | +5% | |
| $57B | 11.5Lowest | - | +14% | |
| $17B | 13.8 | 0.67 | -25% | |
| $5B | 45.5 | - | -49% | |
| $70B | 23.1 | 0.24Best | +17% | |
| $54B | 15.8 | 0.51 | +5% | |
| $54B | 29.3 | - | +48%Best | |
| $3B | 15.5 | - | +10% | |
| $55B | 34.2 | - | -34% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
PAA Historical P/E Data (2000–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $17.96 | $1.75 | 10.3x | -42% |
| FY2025 Q3 | $17.06 | $1.23 | 13.8x | -22% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $18.32 | $0.90 | 20.3x | +15% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $20.00 | $0.93 | 21.4x | +21% |
| FY2024 Q4 | $17.08 | $0.73 | 23.3x | +32% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $17.37 | $1.12 | 15.5x | -12% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $17.86 | $1.10 | 16.2x | -8% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $17.56 | $1.17 | 15.0x | -15% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $15.15 | $1.40 | 10.8x | -39% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $15.32 | $1.35 | 11.3x | -36% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $14.10 | $1.63 | 8.7x | -51% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $12.47 | $1.52 | 8.2x | -54% |
Average P/E for displayed period: 17.7x
Full PAA Stock Analysis
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Start ComparisonPAA — Frequently Asked Questions
Quick answers to the most common questions about buying PAA stock.
Is PAA stock overvalued or undervalued?
PAA trades at 30.4x P/E, above its 5-year average of 20.5x. The 90th percentile ranking indicates a premium to historical valuation.
How does PAA's valuation compare to peers?
Plains All American Pipeline, L.P. P/E of 30.4x compares to sector median of 16.9x. The premium reflects expected growth above peers.
What is PAA's PEG ratio?
PAA PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2000-2025.