Saturday 17 October 2026 Export PAGP’s income statement to Excel — free account

Plains Group Holdings, L.P.

Plains Group Holdings, 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 1,213.3%, 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.

27.45 0.28 +1.03%

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Market cap: $20.7B
P/E: 9.8×
Fwd P/E: 15.6×
Dividend yield: 7.47%
F-score: 5/9
Altman Z: n/a
Beneish M: −2.95
Dividend safety: 62/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 2.84%

Capital & Financial Ratios $m

Market Cap 20,700.00

Revenue 52,306.00

Net Income 2,948.00

Free Cash Flow 2,434.00

Net Debt 7,381.00

Current Ratio 1.12

Debt/Equity 0.55

P/E ratio 9.80

Fwd P/E 15.60

P/S ratio 0.10

P/B ratio 0.35

Past 5Y EPS Growth —

This Y EPS Growth 84.57%

Next Y EPS Growth (26.90%)

Next Y revenue growth 28.83%

Next 5Y EPS Growth 15.13%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 14.98%

10-year low 10-year high

P/S against its own 10 years 66.68%

10-year low 10-year high

P/B against its own 10 years 99.19%

10-year low 10-year high

EV/Sales against its own 10 years 30.67%

10-year low 10-year high

EV/FCF against its own 10 years 36.53%

10-year low 10-year high

Dividends

Payout Ratio 0.73

Annual Dividend Rate 2.05

Annual Dividend Yield 7.47%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.67	0.42 0.42 0.42 0.42
2025	1.52	0.38 0.38 0.38 0.38
2024	1.27	0.32 0.32 0.32 0.32
2023	1.07	0.27 0.27 0.27 0.27
2022	0.83	0.18 0.22 0.22 0.22
2021	0.72	0.18 0.18 0.18 0.18
2020	0.90	0.36 0.18 0.18 0.18
2019	1.38	0.30 0.36 0.36 0.36
2018	1.20	0.30 0.30 0.30 0.30
2017	1.95	0.55 0.55 0.55 0.30
2016	2.40	0.62 0.62 0.62 0.55

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	453	349	329	1,060
Receivables	3,760	3,679	3,598	5,267
Inventory	548	261	211	84
Other	155	72	87	119
	4,916	4,776	4,704	6,530

	2023	2024	2025	Q'26
Payables	3,845	3,647	3,457	4,942
ST’ Debt	446	407	563	9
Other	714	520	500	746
	5,005	4,924	4,902	5,851

Compound Annual Growth %

	10y	5y	3y
Sales	6.70%	13.70%	(8.27%)
Cash Flow	8.08%	14.18%	6.83%
Earnings	8.22%	0.00%	15.67%
Book Value	4.41%	4.90%	(0.97%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	12,470	17,693	—	—	—
’25	11,477	10,642	11,578	10,565	44,262
’24	11,995	12,757	12,456	11,681	48,889
’23	12,341	11,602	12,071	11,322	47,336
’22	13,694	16,359	14,336	12,953	57,342
’21	8,383	9,930	10,776	12,989	42,078
’20	8,269	3,225	5,833	5,963	23,290

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	418	952	—	—	—
’25	638	692	817	784	2,931
’24	418	652	688	726	2,484
’23	742	887	83	1,010	2,722
’22	339	790	941	334	2,404
’21	789	234	335	633	1,991
’20	889	83	281	257	1,510

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	291	815	—	—	—
’25	501	540	638	690	2,369
’24	264	577	581	625	2,047
’23	904	742	(52)	1,048	2,642
’22	291	705	820	193	2,009
’21	713	150	1,116	557	2,536
’20	748	(3)	148	308	1,201

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.10	1.97	—	—	—
’25	0.42	0.15	0.41	0.31	1.30
’24	0.21	0.20	0.17	(0.05)	0.52
’23	0.35	0.25	0.15	0.27	1.01
’22	0.11	0.16	0.36	0.23	0.86
’21	0.36	(0.35)	(0.12)	0.43	0.31
’20	(3.18)	0.09	0.09	(0.11)	(3.07)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	12.59	18.98	19.17	16.99	3.04	8.25	9.39	11.79	15.79	16.61	Analyst estimates 2026–2028 Powerpack
	High	36.64	35.58	27.00	25.82	19.79	12.96	13.42	16.70	20.10	22.31
People
People	Employees	5,100	4,850	4,900	5,000	4,400	4,100	4,100	4,200	4,200	3,900
	Revenue/emp, $m	3.96	5.41	6.95	6.73	5.29	10.26	13.99	11.27	11.64	11.35
Income, $m
Income, $m	Revenue	20,182	26,223	34,055	33,669	23,290	42,078	57,342	47,336	48,889	44,262
	Gross margin, %	8.76	7.84	8.81	8.65	7.66	5.96	4.97	4.89	4.61	6.04
	EBT	738	896	2,409	2,238	(2,607)	712	1,409	1,362	963	1,395
	EBT margin, %	3.66	3.42	7.07	6.65	(11.19)	1.69	2.46	2.88	1.97	3.15
	Net income	660	(41)	2,107	2,062	(2,440)	600	1,163	1,425	1,070	1,686
	Depreciation	515	519	521	604	3,171	777	968	912	901	953
Per share, $
Per share, $	Revenue	203.86	180.85	215.54	200.41	125.22	216.90	295.58	242.75	248.17	223.55
	Earnings	0.94	(5.03)	2.12	1.97	(3.06)	0.31	0.86	1.01	0.52	1.31
	Cash flow	7.25	17.21	16.48	14.88	8.12	10.26	12.39	13.96	12.61	14.80
	Capex	(6.87)	0.41	(1.90)	(6.57)	(1.66)	2.81	(2.04)	(0.41)	(2.22)	(2.84)
	Free cash flow	0.38	17.62	14.58	8.31	6.46	13.07	10.36	13.55	10.39	11.96
	Book value	108.15	85.23	84.30	86.22	60.16	73.08	75.45	76.78	72.67	71.80
	Shares, m	99	145	158	168	186	194	194	195	197	198
Valuation, ×
Valuation, ×	P/E	36.51	0.00	9.53	9.48	0.00	31.69	14.17	15.79	34.68	14.72
	P/S	0.17	0.12	0.09	0.09	0.07	0.05	0.04	0.07	0.07	0.09
	P/B	0.32	0.26	0.24	0.22	0.14	0.14	0.16	0.21	0.25	0.27
	EV/Sales	0.76	0.50	0.36	0.38	0.50	0.26	0.18	0.22	0.22	0.33
	EV/FCF	401.42	5.14	5.35	9.16	9.76	4.23	5.18	3.95	5.32	6.21
Cash, $m
Cash, $m	Operating cash flow	718	2,496	2,604	2,500	1,510	1,991	2,404	2,722	2,484	2,931
	Capex	(680)	59	(300)	(1,104)	(309)	545	(395)	(80)	(437)	(562)
	Free cash flow	38	2,555	2,304	1,396	1,201	2,536	2,009	2,642	2,047	2,369
Balance, $m
Balance, $m	Working capital	(391)	(530)	78	(405)	(587)	(94)	(535)	(89)	(148)	(198)
	Total debt	11,839	9,920	9,209	9,691	10,213	9,220	8,446	7,751	7,618	11,259
	Net debt	11,789	9,880	9,140	9,607	10,150	8,768	8,042	7,298	7,269	10,930
	Shareholders’ equity	10,707	12,358	13,319	14,485	11,190	14,177	14,638	14,972	14,316	14,216
Returns, %
Returns, %	ROA	0.37	(2.77)	1.25	1.17	(2.03)	0.21	0.57	0.69	0.37	0.88
	ROIC	2.75	3.22	6.32	5.14	(6.98)	2.29	3.54	3.51	2.50	3.55
	ROE	0.94	(6.34)	2.60	2.38	(4.42)	0.47	1.17	1.34	0.70	1.82

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
VG Venture Global, Inc.	$31.3B	9.4×	8.8×	+47.63% (above 0%: growing)	+260.00% (above 0%: growing)	−8.21% (below 0%: shrinking)	63.74%	47.79%	Compare
CQP Cheniere Energy Partners, L.P.	$30.1B	11.1×	16.9×	+5.21% (above 0%: growing)	+135.16% (above 0%: growing)	−11.63% (below 0%: shrinking)	59.74%	51.88%	Compare
PBA Pembina Pipeline Corp.	$28.0B	24.4×	22.9×	+19.97% (above 0%: growing)	+27.66% (above 0%: growing)	+8.94% (above 0%: growing)	43.36%	37.45%	Compare
PAGP Plains Group Holdings, L.P.	$20.7B	9.8×	15.6×	+66.26% (above 0%: growing)	+1,213.33% (above 0%: growing)	+50.93% (above 0%: growing)	4.57%	2.24%
WES Western Midstream Partners, LP	$18.2B	14.0×	12.6×	+29.97% (above 0%: growing)	+12.50% (above 0%: growing)	−36.19% (below 0%: shrinking)	90.41%	43.01%	Compare
PAA Plains All American Pipeline, L.P.	$17.7B	7.0×	13.5×	+66.26% (above 0%: growing)	+1,095.24% (above 0%: growing)	+50.92% (above 0%: growing)	4.57%	2.25%	Compare
VNOM Viper Energy Inc.	$15.7B	322×	18.4×	+127.95% (above 0%: growing)	+160.71% (above 0%: growing)	+146.15% (above 0%: growing)	100.00%	63.22%	Compare
DTM DT Midstream, Inc.	$12.1B	26.9×	29.8×	+11.00% (above 0%: growing)	+4.76% (above 0%: growing)	+12.50% (above 0%: growing)	100.00%	50.44%	Compare
FRO Frontline PLC	$11.7B	7.9×	4.6×	+112.25% (above 0%: growing)	+745.71% (above 0%: growing)	+155.42% (above 0%: growing)	74.15%	65.92%	Compare
Median of peers	$18.0B	12.6×	15.2×	+38.80%	+147.94%	+10.72%	68.95%	49.12%

All 58 Oil & Gas Midstream stocks →

Plains Group Holdings, L.P. (PAGP) key facts

Concern: Plains Group Holdings, L.P.’s revenue for fiscal 2025 (year ended December 2025) was $44.3 billion, down 9.46% from fiscal 2024.
Strength: Net income was $1.7 billion, or $1.31 per share (basic), a net margin of 0.59%.
Plains Group Holdings, L.P. (PAGP) is an Oil & Gas Midstream company in the Energy sector, listed on Nasdaq.
As of October 16, 2026, PAGP traded at $27.45, a market capitalization of $20.7 billion.
At that price the stock trades at 9.8× trailing-twelve-month earnings and 0.1× sales; its P/E is higher than 15% of its own readings over the past ten years.
Plains Group Holdings, L.P. pays an annual dividend of $2.05 per share, a yield of 7.47%, with a payout ratio of 73.5%.
Return on equity was 1.82% and debt-to-equity 0.55.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.