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PBAPembina Pipeline Corporation
$45.28$26.7B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
PBA logo

Pembina Pipeline Corporation

PBA
NYSE · Midstream Oil & Gas
$45.28
At close - Oct 1, 4:00 PM EDT - USD
Market Cap$26.33B
P/E24.2x
52W High$51.58
Volume838.82K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Stable Cash Flows Mask Elevated Leverage and Margin Volatility

Pembina Pipeline Corporation offers a compelling yield of 4.2% and demonstrates strong cash generation, with operating cash flow consistently exceeding net income, as evidenced by a 1.74 OCF/NI ratio in Q2 2026. However, the investment case is tempered by a st...

GrowthMixed
ProfitabilityModerate
ValuationAttractive
TechnicalsMixed
Explore valuation models
MARKET ACTION

PBA price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

+17% Peers

P/E is 17% above peer median

03

Market leadership

RS 44 · Lag

Laggard (Underperforming 56% of market)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystEstimated earnings · Oct 30
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has been volatile, swinging from a 36.7% YoY increase in Q1 2025 to a 10.8% decline in Q4 2025, while gross margins have fluctuated between 36.7% and 47.7% over the last ten quarters, suggesting significant exposure to commodity price movements and segment mix shifts.

Analyst Consensus+48.2% target
Buy(16 analysts)
12 Buy4 Hold0 Sell

The Bull Case

Upside Catalysts

Investor Relations Accessibility

Pembina provides easy access to financial statements and investor relations materials, enhancing transparency and investor confidence.

Bullish Market Sentiment

There is circulating bullish investment thesis on Pembina Pipeline Corporation, indicating positive market sentiment.

Financial Reporting Transparency

Pembina's commitment to timely and accurate financial reporting supports investor trust and informed decision-making.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
PBA+21.47%
S&P 500 (^GSPC)+11.83%
1-Year Return
PBA+18.63%
S&P 500 (^GSPC)+14.29%
3-Year Return
PBA+75.88%
S&P 500 (^GSPC)+81.24%
5-Year Return
PBA+73.30%
S&P 500 (^GSPC)+76.40%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
24.6x
Forward P/EExpansion
14.9x
EV/EBITDA100th %ile
13.5x
FCF YieldCash Flow
6.6%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
24.6x
12.3x
100th· High
EV/EBITDA
13.5x
9.3x
100th· High
Price/FCF
15.1x
8.8x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$32.82-27.5%
Base (Fair)$65.61+43.0%
Bull$106.74+135.7%
$32.82 Bear$65.61 Base$106.74 Bull
Current Market Price: $45.28
Trades at a 31.0% discount to Base DCF ($65.61)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$7.78B+5.3% YoY
Net income
$1.69B-9.1% YoY
Free cash flow
$2.52B+11.4% YoY
Operating margin
36.1%+5.2 pts YoY
ROIC (TTM)6.9%
Avg ROIC 5Y-
ROE (TTM)9.9%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (50%)
Revenue Beat Rate4/12 (33%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 30, 2026
$0.48-2.0%
vs $0.49
$1.5B+6.3%
vs $1.4B
Q2 2026
May 7, 2026
$0.59+13.5%
vs $0.52
$1.5B+40.2%
vs $1.1B
Q1 2026
Feb 26, 2026
$0.56+12.0%
vs $0.50
$1.4B-3.4%
vs $1.4B
Q4 2025
Nov 6, 2025
$0.31-31.1%
vs $0.45
$1.3B-9.0%
vs $1.4B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Business Wire·1d ago
Pacific Link Listed as a Project of National Interest

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA), along with the Governments of Alberta and Canada, and Trans Mountain Corporation, today marked a key milestone on the West Coast Oil Pipeline, now called Pacific Link (the "Project"), following its listing by the Government of Canada as a Project of National Interest ("PONI") under the Building Canada Act. The proposed nation-building infrastructure project will strengthen Canada'.

Defense World·1d ago
Pembina Pipeline Corp. (NYSE:PBA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Pembina Pipeline Corp. (NYSE: PBA - Get Free Report) (TSE: PPL) has received an average rating of "Moderate Buy" from the nine research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month

Defense World·3d ago
Pembina Pipeline (NYSE:PBA) Stock Sold by Rep. Kevin Hern

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Pembina Pipeline Corp. (NYSE: PBA). In a filing disclosed on September 25th, the Representative disclosed that they had sold between $15,001 and $50,000 in Pembina Pipeline stock on August 27th. The trade occurred in the Representative's "KEVIN HERN TRADITIONAL IRA" account. Representative Kevin Hern also recently made the

Defense World·Sep 21, 2026
238,133 Shares in Pembina Pipeline Corp. $PBA Purchased by Nykredit A S

Nykredit A S purchased a new stake in shares of Pembina Pipeline Corp. (NYSE: PBA) (TSE: PPL) in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 238,133 shares of the pipeline company's stock, valued at approximately $11,014,000. Other institutional investors and hedge

Filtered for Pembina Pipeline CorporationMore Headlines
04

Compare before deciding

Benchmark PBA against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Pembina Pipeline Corporation (PBA)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
PBA logoPBAPembina Pipeline CorporationCurrent
$45.28$26.33B24.225.34%21.78%9.88%4.37%
ENB logoENBEnbridge Inc.
$46.27$101.04B20.3221.92%7.35%8.39%—
TRP logoTRPTC Energy Corporation
$58.62$61.02B25.5010.29%22.46%9.64%—
PPL logoPPLPPL Corporation
$32.76$24.65B20.606.85%13.47%8.53%—
WMB logoWMBThe Williams Companies, Inc.
$69.22$84.66B32.3513.78%25.18%20.36%—
KMI logoKMIKinder Morgan, Inc.
$30.53$67.98B22.2812.45%19.31%10.67%—

Compare PBA vs Peers

Pembina Pipeline Corporation (PBA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ENB

Most directly comparable listed peer for PBA.

Scale Benchmark

vs MPC

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

Peer Set

Compare Top 5

vs ENB, TRP, PPL, WMB

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PBA Frequently Asked Questions

Pembina Pipeline Corporation (PBA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Pembina Pipeline Corporation's revenue?

Pembina Pipeline Corporation (PBA) reported $7.93B in revenue for fiscal year 2025. This represents a 7194% increase from $108.7M in 1998.

How fast is Pembina Pipeline Corporation growing?

Pembina Pipeline Corporation (PBA) grew revenue by 5.3% over the past year. This is steady growth.

Is PBA profitable?

Yes, Pembina Pipeline Corporation (PBA) is profitable, generating $1.79B in net income for fiscal year 2025 (21.8% net margin).

Dividend & Returns
Does PBA pay dividends?

Yes, Pembina Pipeline Corporation (PBA) pays a dividend with a yield of 4.37%. This makes it attractive for income-focused investors.

What is PBA's return on equity?

Pembina Pipeline Corporation (PBA) has a return on equity (ROE) of 9.9%. This is below average, suggesting room for improvement.

What is Pembina Pipeline Corporation's free cash flow?

Pembina Pipeline Corporation (PBA) generated $2.07B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in PBA back in 1998?

Total return calculator · dividends reinvested · 28+ years of data

See returns →