Plains All American Pipeline, L.P. (PAA) stock price, financials & research

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GoAI snapshot

Jul 10, 2026

74/ 100

GoAI Score

Buy

Valuation

94

Deep Value

Sentiment

59

Mixed

Risk

16

Low Risk

Momentum

55

Neutral

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Company profile

Company website

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 through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, trucks, and on barges or railcars. This segment provides terminalling, storage, and other related services, as well as merchant activities. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminaling. This segment also includes ethane, propane, normal butane, iso-butane, and natural gasoline derived from natural gas production and processing activities, as well as crude oil refining processes. Its NGL components are used for various applications, such as heating, engine, and industrial fuels.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.

Industry: Oil & Gas Midstream
Sector: Energy
Headquarters: US
CEO: Willie Chiang
Listed since: Nov 18, 1998
Employees: 3,900

Market position

Day range

Current $26.10

$25.50$26.12

52-week range

Current $26.10

$15.69$26.12

Open: $25.50
Previous close: $25.715
Volume: 3.22M; 1.26× average
Average volume: 2.56M; Average daily volume
Market cap: 18.41B USD
Beta: 0.49; Market reference 1
50-day average: $24.1936; +7.88% above average
200-day average: $21.5156; +21.31% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value: 19.21B USD
P/E (TTM): 7.23×
P/B (TTM): 1.66×
P/S (TTM): 0.35×
EV / EBITDA: 6.61×
Earnings yield: 11.35%
Free cash flow yield: 18.14%
Dividend yield: 6.25%

Profitability & efficiency

Gross margin: 4.49%
Operating margin: 2.87%
Net margin: 5.30%
Return on equity: 14.59%
Return on assets: 4.76%
Return on invested capital: 5.58%

Financial health

Debt / equity: 0.78×
Current ratio: 0.96×
Altman Z-score: 2.78
Piotroski F-score: 6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin

Income trends

Revenue

44.26B USD-11.61%

Operating income

1.43B USD+21.73%

Net income

1.44B USD+85.88%

Financial statements: Income statement
Metric (USD)	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	44.26B USD	50.07B USD	48.71B USD	57.34B USD	42.08B USD
Cost of goods sold	41.59B USD	48.35B USD	45.96B USD	55.46B USD	40.34B USD
Gross profit	2.68B USD	1.72B USD	2.76B USD	1.89B USD	1.74B USD
Selling, general, and administrative	342M USD	381M USD	350M USD	325M USD	292M USD
Operating expenses	1.24B USD	541M USD	1.25B USD	594M USD	884M USD
Interest income	—	70M USD	—	—	—
Interest expense	554M USD	430M USD	386M USD	405M USD	425M USD
Depreciation and amortization	953M USD	1.03B USD	1.05B USD	965M USD	774M USD
Operating income	1.43B USD	1.18B USD	1.51B USD	1.29B USD	851M USD
Net income	1.44B USD	772M USD	1.23B USD	1.04B USD	593M USD

Company facts updated Sep 11, 2026.

Earnings

EPS beat rate: 73%; 8 beats, 2 misses, 1 met estimate
Average EPS surprise: +4.73%; 11 comparable reports
Latest EPS result: 0.41; Estimate 0.38 · Beat by 7.44%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate

Latest fiscal-year EPS: 1.66; FY2025 · +127.40% year over year
Latest fiscal-year revenue: 44.26B USD; FY2025 · -11.61% year over year
Next fiscal-year EPS consensus: 1.56; FY2026 · 6 analysts
Next fiscal-year revenue consensus: 59.78B USD; FY2026 · 6 analysts

Annual EPS trend

Reported history and fiscal-year consensus

ReportedConsensus forecast

Annual revenue trend

Reported history and fiscal-year consensus

ReportedConsensus forecast

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$25.29

3.10% downside

Past 12 months12-month forecastHigh $27.00Average $25.29Low $23.00

Rating distribution

42 ratings

Strong buy12%

Buy2355%

Hold1740%

Sell12%

Strong sell00%

Recent analyst actions

12 institutions

PAA news

globenewswire.comSep 9, 2026

Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units

HOUSTON, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) (“PAA”) today announced that it has priced an underwritten public offering (the “Offering”) of $700,000,000 aggregate principal…

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etftrends.comSep 1, 2026

Midstream Scales Up Natural Gas Infrastructure

As noted last week, midstream MLPs and corporations broadly raised full-year financial guidance following a strong second quarter. Looking ahead, the sector's growth runway is accelerating.

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etftrends.comAug 25, 2026

Strong Midstream 2Q26 Earnings Boost Full-Year Outlook

Midstream MLPs and corporations generally posted strong second-quarter earnings, benefiting from record volume throughput, strong margins, and robust demand for natural gas and natural gas liquids (NGL) exports.…

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seekingalpha.comAug 20, 2026

Plains All American: Growth Prospects Strengthening Due To Oil Prices (Rating Upgrade)

Plains All American Pipeline is a leading crude oil midstream MLP with a 6.90% yield and critical Permian Basin infrastructure. PAA's growth outlook has improved as sustained oil prices above $80/barrel could drive…

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seekingalpha.comAug 17, 2026

Plains All American: This 7% Yield Still Has Plenty Of Fuel

Plains All American remains a compelling midstream play, leveraging Permian production growth and Gulf Coast export demand for robust income and returns. PAA delivered 19% YoY crude oil adjusted EBITDA growth in Q2 2026,…

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zacks.comAug 7, 2026

Compared to Estimates, Plains All American (PAA) Q2 Earnings: A Look at Key Metrics

While the top- and bottom-line numbers for Plains All American (PAA) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall…

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Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.52

2025 complete year+111.1% since 2021

2026 partial: $1.2525

$0.72

2,021

$0.834

2,022

$1.0705

2,023

$1.27

2,024

$1.52

2,025

$1.2525

2,026*

* Partial calendar year in the available dividend history.

Corporate action history

Action	Ex-dividend date	Details	Record date	Payment date
Dividend	Jul 31, 2026	$0.4175Quarterly	Jul 31, 2026	Aug 14, 2026
Dividend	May 1, 2026	$0.4175Quarterly	May 1, 2026	May 15, 2026
Dividend	Jan 30, 2026	$0.4175Quarterly	Jan 30, 2026	Feb 13, 2026
Dividend	Oct 31, 2025	$0.38Quarterly	Oct 31, 2025	Nov 14, 2025
Dividend	Jul 31, 2025	$0.38Quarterly	Jul 31, 2025	Aug 14, 2025
Dividend	May 1, 2025	$0.38Quarterly	May 1, 2025	May 15, 2025