Last 48 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Plains GP Holdings, L.P.'s quarterly P/E stands at 60.7x, up 377.4% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 69.8% YoY to 6.8x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 17.75 | 60.70 | 15.44 | 10.86 | 32.38 | 12.71 | — | 27.21 | 23.52 | 21.73 | 14.77 | 26.87 | 14.83 |
| — | +377.4% | — | -60.1% | +37.7% | -41.5% | — | +1.3% | +58.6% | +1410.2% | +9.2% | +1850.4% | -8.0% | |
| P/S Ratio | 0.10 | 0.10 | 0.09 | 0.08 | 0.09 | 0.09 | 0.07 | 0.07 | 0.07 | 0.07 | 0.06 | 0.07 | 0.06 |
| — | +9.5% | +22.9% | +9.1% | +24.4% | +17.5% | +18.9% | +9.3% | +16.6% | +45.3% | +31.8% | +77.3% | +103.7% | |
| P/B Ratio | 0.32 | 0.34 | 0.27 | 0.26 | 0.27 | 0.30 | 0.25 | 0.25 | 0.25 | 0.24 | 0.21 | 0.21 | 0.19 |
| — | +14.6% | +5.4% | +3.3% | +8.7% | +24.5% | +21.4% | +15.9% | +28.8% | +40.2% | +26.3% | +41.8% | +36.6% | |
| P/FCF | 2.01 | 4.17 | 1.49 | 1.47 | 1.66 | 2.40 | 1.62 | 1.79 | 1.76 | 3.62 | 0.92 | — | 0.97 |
| — | +73.7% | -7.8% | -17.8% | -5.9% | -33.7% | +76.5% | — | +80.9% | +253.1% | -71.0% | — | +36.5% | |
| EV / EBITDA | 6.62 | 6.84 | 6.12 | 4.39 | 6.95 | 4.02 | 8.14 | 4.66 | 5.43 | 4.57 | 3.84 | 5.67 | 4.04 |
| — | +69.8% | -24.9% | -5.7% | +27.9% | -11.9% | +112.1% | -17.9% | +34.6% | +28.9% | -69.5% | +91.0% | -1.3% | |
| EV / EBIT | 11.04 | 11.58 | 8.14 | 5.29 | 9.04 | 4.76 | 10.82 | 6.21 | 6.42 | 6.20 | 5.02 | 7.77 | 5.30 |
| — | +143.5% | -24.7% | -14.7% | +40.7% | -23.3% | +115.3% | -20.1% | +21.3% | +50.0% | -22.1% | +96.7% | -21.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Plains GP Holdings, L.P.'s operating margin was 2.8% in Q1 2026, down 0.5 pp QoQ and down 1.6 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. Gross margin contracted 57.8% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 6.0% | 3.5% | 6.7% | 6.1% | 6.1% | 8.2% | 4.8% | 96.2% | 5.4% | 6.9% | 6.8% | 5.8% | 6.9% |
| — | -57.8% | +40.0% | -93.7% | +12.3% | +19.7% | -29.3% | +1549.6% | -21.0% | +11.4% | +25.8% | -18.5% | +42.1% | |
| Operating Margin | 3.2% | 2.8% | 3.4% | 4.2% | 2.2% | 4.4% | 0.7% | 2.7% | 2.6% | 3.1% | 3.3% | 1.9% | 3.2% |
| — | -36.6% | +377.6% | +53.6% | -13.9% | +44.0% | -78.9% | +41.3% | -20.0% | -19.4% | +1178.8% | -55.8% | +29.6% | |
| Net Margin | 0.6% | 0.2% | 0.6% | 0.7% | 0.3% | 0.7% | -0.1% | 0.3% | 0.3% | 0.4% | 0.4% | 0.2% | 0.4% |
| — | -77.1% | +761.6% | +176.8% | -7.8% | +99.8% | -121.7% | +7.8% | -26.1% | -37.4% | +20.5% | -51.5% | +118.3% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.8% | 0.1% | 0.4% | 0.6% | 0.2% | 0.6% | -0.1% | 0.2% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% |
| — | -76.0% | +677.5% | +162.8% | -19.0% | +110.4% | -121.7% | +14.3% | -18.9% | -40.1% | +13.9% | -61.3% | +47.9% | |
| ROA | 0.9% | 0.1% | 0.2% | 0.3% | 0.1% | 0.3% | -0.0% | 0.1% | 0.1% | 0.1% | 0.2% | 0.1% | 0.2% |
| — | -79.2% | +622.7% | +149.3% | -22.1% | +104.2% | -121.7% | +14.0% | -19.3% | -38.3% | +19.1% | -57.8% | +69.4% | |
| ROIC | 4.5% | 1.0% | 1.1% | 1.6% | 0.8% | 1.8% | 0.3% | 1.2% | 1.1% | 1.2% | 1.4% | 0.8% | 1.3% |
| — | -42.3% | +275.3% | +38.7% | -28.2% | +46.4% | -78.9% | +49.8% | -12.8% | -21.0% | +1154.4% | -62.9% | -5.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Plains GP Holdings, L.P.'s Debt/EBITDA ratio is 19.5x, up from 18.8x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 6.7% YoY to 0.94x, tightening the short-term liquidity position. Debt/Equity has risen for 4 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.81 | 0.83 | 0.81 | 0.68 | 0.63 | 0.64 | 0.55 | 0.56 | 0.56 | 0.55 | 0.54 | 0.56 | 0.56 |
| — | +29.9% | +45.8% | +21.8% | +12.6% | +17.0% | +3.4% | -0.0% | -0.0% | -2.9% | -11.1% | -10.0% | -12.2% | |
| Debt / EBITDA | 4.82 | 19.52 | 18.80 | 14.03 | 20.11 | 11.31 | 23.06 | 13.65 | 15.72 | 13.04 | 11.53 | 16.81 | 13.06 |
| — | +72.6% | -18.5% | +2.7% | +27.9% | -13.2% | +100.0% | -18.8% | +20.4% | +14.3% | -71.9% | +65.7% | -4.6% | |
| Current Ratio | 0.96 | 0.94 | 0.96 | 1.04 | 1.00 | 1.01 | 0.97 | 1.01 | 1.00 | 0.97 | 0.98 | 0.95 | 1.00 |
| — | -6.7% | -1.1% | +3.4% | +0.6% | +3.8% | -1.2% | +5.9% | -0.5% | +1.9% | +8.0% | -9.0% | +3.3% | |
| Quick Ratio | 0.92 | 0.88 | 0.92 | 1.01 | 0.97 | 0.94 | 0.88 | 0.92 | 0.90 | 0.88 | 0.87 | 0.84 | 0.92 |
| — | -5.8% | +4.1% | +9.2% | +7.3% | +6.1% | +0.9% | +9.6% | -2.0% | +1.8% | +11.1% | -9.8% | +3.4% | |
| Interest Coverage | 3.99 | 2.10 | 3.35 | 5.09 | 3.08 | 6.28 | 2.73 | 4.67 | 4.63 | 4.83 | 5.37 | 3.71 | 5.09 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying PAGP stock.
Plains GP Holdings, L.P.'s current P/E is 17.7x. The average P/E over the last 4 quarters is 29.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Plains GP Holdings, L.P.'s current operating margin is 3.2%. Margins have been expanding 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 GP Holdings, L.P.'s business trajectory between earnings reports.