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Friday 6 November 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.

Revenue
+66.3%
EPS
+1,095.2%
Free cash flow
+50.9%
Total debt
−2.74%

Quarter to June 2026, against a year earlier

24.57 0.64 −2.54%
Market cap
$17.3B
P/E
6.8×
Fwd P/E
7.2×
Dividend yield
6.80%
F-score
5/9
Altman Z
n/a
Beneish M
−2.94
Dividend safety
37/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Plains All American Pipeline, L.P. (PAA) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, Plains All American Pipeline, L.P. (PAA) trades at a EV/EBITDA of 9.5×. Over the past ten years it has ranged from 4.6× (March 2020) to 23.0× (August 2018); the current reading is higher than 28% of that period. That is in line with the Oil & Gas Midstream industry median of 9.0× and above the Energy sector median of 6.2×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 9.9× (9.29%)
FY2024 10.9× 31.11%
FY2023 8.3× 16.12%
FY2022 7.2× (24.82%)
FY2021 9.5× (53.29%)
FY2020 20.4× 129.49%
FY2019 8.9× 4.78%
FY2018 8.5× (43.75%)
FY2017 15.1× (15.77%)
FY2016 17.9× 48.11%

Quarterly newest first

Period EV/EBITDA Change
Jun 2026 8.8× (19.86%)
Mar 2026 11.0× 11.60%
Dec 2025 9.9× (4.01%)
Sep 2025 10.3× (18.12%)
42 more quarters

Against its own ten years

Low 4.6× High 23.0×
Ten-year median 11.2×
Current reading's percentile 28

EV/EBITDA against peers

Company EV/EBITDA
PAGP Plains Group Holdings, L.P. compare 4.8×
FRO Frontline PLC compare 7.4×
CQP Cheniere Energy Partners, L.P. compare 8.9×
VG Venture Global, Inc. compare 9.2×
PAA Plains All American Pipeline, L.P. 9.5×
VNOM Viper Energy Inc. compare 9.8×
WES Western Midstream Partners, LP compare 10.2×
PBA Pembina Pipeline Corp. compare 13.2×
DTM DT Midstream, Inc. compare 15.4×
Oil & Gas Midstream industry median 9.0×
Energy sector median 6.2×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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