Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P.

PAAยทNASDAQ

$22.90

-0.13%
EnergyOil & Gas Midstream

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars. This segment provides terminalling, storage, and other facilities-related services, as well as merchant activities. As of December 31, 2021, this segment owned and leased 18,300 miles of active crude oil transportation pipelines and gathering systems, as well as an additional 110 miles of pipelines that supports crude oil storage and terminalling facilities; 74 million barrels of commercial crude oil storage capacity; 38 million barrels of active, above-ground tank capacity; four marine facilities; a condensate processing facility; seven crude oil rail terminals and 2,100 crude oil railcars; and 640 trucks and 1,275 trailers. The Natural Gas Liquids segment engages in the natural gas processing, NGL fractionation, storage, transportation, and terminalling activities. As of December 31, 2021, this segment owned and operated four natural gas processing plants; nine fractionation plants; 28 million barrels of NGL storage capacity; approximately 1,620 miles of active NGL transportation pipelines, as well as an additional 55 miles of pipeline that supports NGL storage facilities; 16 NGL rail terminals and approximately 3,900 NGL rail cars; and approximately 220 trailers. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.

At a Glance

Live Snapshot
Market Cap$16.16B
EPS1.6600
P/E Ratio13.80
Earnings Date08/14/2026
3Y-23.0%
5Y+90.0%
10Y+119.0%
3Y+38.0%
5Y-155.0%
10Y+98.0%
3Y+22.0%
5Y+94.0%
10Y+304.0%
Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. Profit Bridge

PAA ยท NASDAQ
Revenue44.26B
Cost of Goods Sold (41.59B)
Gross Profit2.67B
Operating Expenses (1.24B)
Operating Income1.43B
Interest Expense (554.00M)
Other Income/Expense-33.00M
Pretax Income1.40B
Income Tax (15.00M)
Net Income1.44B
Net Income
1.44B

Profitability Analysis

Gross Margin

6.0%

Thin margins leave little room for error. Cost management and pricing strategy are critical.

Operating Margin

3.2%

Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.

Net Profit Margin

3.2%

Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.

Effective Tax Rate

1.1%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.

Plains All American Pipeline, L.P. Income Statement

PAA โ€ข NASDAQ

Plains All American Pipeline, L.P. Income StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009Dec 2008Dec 2007Dec 2006
REVENUE
44.3B
50.1B
48.7B
57.3B
42.1B
23.3B
33.7B
34.1B
26.2B
20.2B
23.2B
43.5B
42.2B
37.8B
34.3B
25.9B
18.5B
30.1B
20.4B
22.4B
GROSS PROFIT
(41.6B)
(48.4B)
(46B)
(55.5B)
(40.3B)
(22.2B)
(31.4B)
(31.6B)
(24.8B)
(18.9B)
(21.6B)
(41.3B)
(40.2B)
(36B)
(32.4B)
(24.6B)
(17.3B)
(29.1B)
(19.5B)
(21.9B)
2.7B
1.7B
2.8B
1.9B
1.7B
1.1B
2.3B
2.5B
1.4B
1.3B
1.5B
2.1B
2.1B
1.8B
1.8B
1.3B
1.2B
965M
862M
589M
OPERATING INCOME
(1.2B)
(541M)
(1.2B)
(594M)
(884M)
(3.5B)
(325M)
(316M)
(276M)
(279M)
(278M)
(325M)
(359M)
(342M)
(543M)
(516M)
(447M)
(371M)
(344M)
(234.3M)
(342M)
(381M)
(350M)
(325M)
(292M)
(271M)
(297M)
(316M)
(276M)
(279M)
(278M)
(325M)
(359M)
(342M)
(294M)
(260M)
(211M)
(160M)
(164M)
(133.9M)
1.4B
1.2B
1.5B
1.3B
851M
-2.4B
2B
2.3B
1.2B
994M
1.3B
1.8B
1.7B
1.4B
1.3B
767M
779M
594M
518M
354.7M
PRE-TAX INCOME
(554M)
(430M)
(386M)
(405M)
(425M)
(436M)
(425M)
(431M)
(510M)
(467M)
(432M)
(348M)
(313M)
(288M)
(253M)
(248M)
(224M)
(196M)
(0.0)
(0.0)
-554M
-360M
-386M
-405M
-425M
-436M
-425M
-431M
-510M
-467M
-432M
-348M
-313M
-288M
-253M
-248M
-224M
-196M
0.0
0.0
(899M)
(160M)
(896M)
(269M)
(592M)
(3.2B)
(28M)
(0.0)
(0.0)
(0.0)
(0.0)
-2M
(1M)
(0.0)
(249M)
(256M)
(236M)
(211M)
(180M)
(100.4M)
-33M
102M
113M
125M
-130M
-224M
258M
137M
-251M
-239M
-256M
-242M
-248M
-244M
-259M
-254M
-193M
-149M
-137M
-75.6M
1.4B
1.3B
1.6B
1.4B
721M
-2.6B
2.2B
2.4B
902M
755M
1B
1.6B
1.5B
1.2B
1B
513M
586M
445M
381M
279.1M
NET INCOME
(15M)
(167M)
(121M)
(189M)
(73M)
-19M
(66M)
(198M)
(44M)
(25M)
(100M)
(171M)
(99M)
(54M)
(45M)
-1M
(6M)
(8M)
(16M)
(300K)
1.4B
772M
1.2B
1B
593M
-2.6B
2.2B
2.2B
856M
726M
903M
1.4B
1.4B
1.1B
966M
505M
579M
437M
365M
285.1M

SEC Filings

PAA - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
8-K

8-K 2026

N/A

June 02, 2026
June 01, 2026
2026
8-K

8-K 2026

N/A

May 22, 2026
May 20, 2026
2026
8-K

8-K 2026

N/A

May 13, 2026
May 11, 2026
2026
8-K

8-K 2026

N/A

May 12, 2026
May 12, 2026
2026
10-Q

10-Q 2026 Q1

Q1

May 08, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

May 08, 2026
May 08, 2026
2026
DEF 14A

DEF 14A 2026

N/A

April 10, 2026
May 20, 2026
2026
8-K

8-K 2026

N/A

March 03, 2026
February 26, 2026
2026
10-K

10-K 2025 FY

FY

February 27, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

February 06, 2026
February 06, 2026
2026
Showing 1 to 10 of 709 filings