Saturday 17 October 2026
Export PAA’s income statement to Excel — free account
Plains All American Pipeline, L.P.
PAA Energy Oil & Gas Midstream
Plains All American Pipeline, L.P.’s revenue for fiscal 2025 (year ended December 2025) was $44.3 billion, down 9.46% from fiscal 2024. In the quarter to June 2026, revenue grew 66.3%, EPS grew 1,095.2%, free cash flow grew 50.9% and total debt fell 2.74%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
25.25
0.10
+0.40%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
79.73 | 21.72 | 7.23 | 6.81 | 0.00 | 16.98 | 9.71 | 11.01 | 23.40 | 10.82 |
Piotroski F-Score |
6 | 6 | 8 | 4 | 2 | 8 | 7 | 6 | 4 | 5 |
P/S ratio |
0.75 | 0.58 | 0.43 | 0.40 | 0.26 | 0.16 | 0.14 | 0.23 | 0.25 | 0.29 |
P/FCF ratio |
286.19 | 5.97 | 6.30 | 9.55 | 4.98 | 2.63 | 4.02 | 4.04 | 5.84 | 5.33 |
P/Operating CF |
178.45 | 26.27 | 11.07 | 18.42 | 23.25 | 10.53 | 24.24 | 10.58 | 16.49 | 16.09 |
Beneish M-Score |
(2.24) | (2.30) | (2.64) | (2.06) | (3.70) | (1.40) | (2.58) | (2.74) | (2.67) | (2.94) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 37 |
P/B ratio |
2.08 | 1.76 | 1.50 | 1.23 | 0.81 | 0.64 | 0.73 | 0.94 | 1.11 | 1.14 |
Price to Tangible BV |
3.06 | 2.50 | 2.02 | 1.60 | 0.90 | 0.78 | 0.91 | 1.12 | 1.32 | 1.36 |
EV/Sales |
1.34 | 0.96 | 0.70 | 0.68 | 0.69 | 0.37 | 0.28 | 0.38 | 0.39 | 0.53 |
EV/EBITDA |
17.88 | 15.06 | 8.47 | 8.88 | 20.37 | 9.51 | 7.15 | 8.30 | 10.89 | 9.88 |
EV/Operating CF |
36.78 | 10.06 | 9.08 | 9.18 | 10.67 | 7.74 | 6.70 | 6.60 | 7.74 | 8.03 |
EV/FCF |
508.68 | 9.83 | 10.27 | 16.41 | 13.40 | 6.08 | 8.02 | 6.80 | 9.38 | 9.93 |
Quick Ratio |
0.50 | 0.68 | 0.73 | 0.74 | 0.61 | 0.83 | 0.73 | 0.84 | 0.81 | 0.80 |
Current Ratio |
0.92 | 0.88 | 1.02 | 0.92 | 0.86 | 0.98 | 0.91 | 0.98 | 0.97 | 0.96 |
Net Debt/EBITDA |
7.82 | 5.92 | 3.27 | 3.71 | 12.80 | 5.40 | 3.56 | 3.37 | 4.11 | 4.58 |
Debt/Assets |
48.90% | 39.13% | 36.10% | 33.79% | 41.69% | 32.23% | 30.28% | 28.33% | 28.68% | 37.32% |
Debt/Equity |
1.34 | 0.91 | 0.77 | 0.73 | 1.05 | 0.72 | 0.63 | 0.56 | 0.58 | 0.86 |
Asset Turnover |
0.87 | 1.06 | 1.34 | 1.24 | 0.88 | 1.58 | 2.03 | 1.71 | 1.81 | 1.56 |
Operating CF/Net income |
3.67 | 3.65 | 1.30 | 1.27 | (0.54) | 5.08 | 2.90 | 2.79 | 4.84 | 2.51 |
Capex/Depreciation |
(1.32) | 0.11 | (0.58) | (1.84) | (0.10) | 0.70 | (0.41) | (0.09) | (0.48) | (0.59) |
Interest Coverage |
2.13 | 2.26 | 5.28 | 4.68 | (5.45) | 2.00 | 3.19 | 3.26 | 2.02 | 2.59 |
| 2.62% | 8.58% | 21.87% | 19.09% | (30.41%) | 4.38% | 7.71% | 8.69% | 4.62% | 10.71% | |
| 0.86% | 2.76% | 7.90% | 7.26% | (10.49%) | 1.48% | 2.94% | 3.53% | 1.91% | 4.12% | |
ROIC |
3.01% | 3.46% | 6.73% | 5.45% | (7.46%) | 2.46% | 3.78% | 3.74% | 2.66% | 3.73% |
Return on Tangible Assets |
1.48% | 5.05% | 13.52% | 13.16% | (19.90%) | 2.65% | 5.65% | 6.22% | 3.87% | 7.02% |
Average Days of Receivables |
41.22 | 42.16 | 26.30 | 39.18 | 40.01 | 40.81 | 24.87 | 28.99 | 27.47 | 29.67 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
1.38% | 1.05% | 0.93% | 0.88% | 1.16% | 0.69% | 0.57% | 0.63% | 0.67% | 0.77% |
Intangible Assets out of Total Assets |
0.10 | 0.10 | 0.10 | 0.09 | 0.03 | 0.07 | 0.08 | 0.07 | 0.06 | 0.06 |
Share Based Compensation of Revenue |
0.30% | 0.16% | 0.23% | 0.10% | 0.06% | 0.05% | 0.07% | 0.11% | 0.10% | 0.11% |
Graham Net Nets |
(0.73) | (0.68) | (0.69) | (0.81) | (1.85) | (1.44) | (1.14) | (0.81) | (0.72) | (0.98) |
Graham Number |
12.05 | 16.32 | 28.87 | 30.18 | 0.00 | 13.48 | 20.53 | 22.62 | 15.89 | 24.21 |
Earnings Yield |
1.25% | 4.60% | 13.82% | 14.68% | (46.48%) | 5.89% | 10.30% | 9.08% | 4.27% | 9.24% |
Free Cash Flow Yield |
0.35% | 16.76% | 15.86% | 10.47% | 20.09% | 38.00% | 24.86% | 24.75% | 17.12% | 18.78% |
Revenue per Share |
43.50 | 36.57 | 46.91 | 46.31 | 31.99 | 58.77 | 81.80 | 67.72 | 69.64 | 62.87 |
Operating CF per Share |
1.58 | 3.49 | 3.59 | 3.44 | 2.08 | 2.79 | 3.44 | 3.90 | 3.55 | 4.17 |
Capex per Share |
(1.47) | 0.08 | (0.41) | (1.52) | (0.42) | 0.76 | (0.56) | (0.11) | (0.62) | (0.80) |
Free Cash Flow per Share |
0.11 | 3.57 | 3.18 | 1.93 | 1.66 | 3.55 | 2.87 | 3.79 | 2.92 | 3.37 |
Cash per Share |
0.10 | 0.05 | 0.09 | 0.11 | 0.08 | 0.63 | 0.57 | 0.64 | 0.50 | 0.47 |
Shareholders Equity per Share |
19.00 | 15.28 | 16.53 | 18.15 | 13.38 | 17.89 | 19.01 | 19.65 | 18.66 | 18.58 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
19.00 | 15.28 | 16.53 | 18.15 | 13.38 | 17.89 | 19.01 | 19.65 | 18.66 | 18.58 |
Free Cash Flow |
53.00 | 2,558.00 | 2,308.00 | 1,400.00 | 1,205.00 | 2,541.00 | 2,013.00 | 2,647.00 | 2,053.00 | 2,374.00 |
Working Capital |
(392.00) | (531.00) | 77.00 | (405.00) | (588.00) | (95.00) | (536.00) | (90.00) | (148.00) | (198.00) |
Capital Expenditures |
(680.00) | 59.00 | (300.00) | (1,104.00) | (309.00) | 545.00 | (395.00) | (80.00) | (437.00) | (562.00) |
Net Current Asset Value |
(11,122.00) | (10,393.00) | (9,976.00) | (10,870.00) | (11,094.00) | (9,662.00) | (9,212.00) | (8,710.00) | (8,664.00) | (12,356.00) |
EV/EBIT |
27.12 | 21.81 | 10.40 | 11.56 | 0.00 | 18.17 | 12.49 | 14.31 | 22.19 | 16.44 |
Capex to Sales |
0.03 | 0.00 | 0.01 | 0.03 | 0.01 | (0.01) | 0.01 | 0.00 | 0.01 | 0.01 |
Price to Operating Income |
15.26 | 13.24 | 6.39 | 6.73 | 0.00 | 7.86 | 6.27 | 8.50 | 13.81 | 8.82 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.04 | 0.04 | 0.04 | 0.04 | 0.22 | 0.05 | 0.06 | 0.06 | 0.07 | 0.06 |
Cash ROIC |
0.26% | 12.23% | 10.85% | 6.10% | 6.02% | 11.30% | 9.08% | 12.07% | 9.75% | 9.62% |
Accounts Receivable Turnover |
9.93 | 9.88 | 12.42 | 11.10 | 7.55 | 11.59 | 13.32 | 12.35 | 13.14 | 12.16 |
Accounts Payable Turnover |
7.96 | 8.18 | 10.31 | 9.63 | 7.03 | 10.92 | 12.31 | 11.42 | 12.45 | 11.71 |
Inventory Turnover |
16.30 | 23.51 | 45.91 | 49.45 | 34.38 | 55.34 | 72.08 | 70.51 | 115.29 | 176.22 |
Average Days of Payables |
51.30 | 50.19 | 31.78 | 43.75 | 41.36 | 44.37 | 27.09 | 31.16 | 28.55 | 30.34 |
Days of Inventory on Hand |
26.62 | 10.77 | 7.52 | 7.17 | 10.98 | 7.22 | 4.88 | 4.44 | 2.04 | 1.85 |
Average Receivables |
2,032.00 | 2,654.00 | 2,741.50 | 3,034.00 | 3,083.50 | 3,629.00 | 4,306.00 | 3,833.50 | 3,719.50 | 3,638.50 |
Average Payables |
2,313.00 | 2,955.50 | 3,013.50 | 3,195.00 | 3,061.50 | 3,623.50 | 4,427.00 | 3,944.00 | 3,745.50 | 3,552.00 |
Average Inventory |
1,129.50 | 1,028.00 | 676.50 | 622.00 | 625.50 | 715.00 | 756.00 | 638.50 | 404.50 | 236.00 |
Average Assets |
23,249.00 | 24,780.50 | 25,431.00 | 27,094.00 | 26,587.00 | 26,553.00 | 28,250.50 | 27,623.50 | 26,958.50 | 28,365.50 |
Average Common Equity |
7,623.50 | 7,986.50 | 9,187.50 | 10,306.50 | 9,174.50 | 8,982.00 | 10,775.50 | 11,234.50 | 11,115.50 | 10,920.00 |
Columns are period end dates