PAA Stock Analysis: Plains All American Pipeline | NASDAQ
Oil & Gas Midstream | NASDAQ, USA | Market Cap: 17.999m USD | 12M Return: 57% | US7265031051 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 60.6M
EPS Trend: 89.5%
Qual. Beats: 0
Rev. Trend: -27.0%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Plains All American Pipeline, L.P. (PAA) is a Houston-based midstream energy company that transports, stores, and gathers crude oil and natural gas liquids (NGL) across the United States and Canada. Founded in 1981 and publicly listed since 1998, the company operates through two segments: Crude Oil, which handles pipeline, truck, barge, and rail transportation along with terminalling and merchant activities, and NGL, which covers natural gas processing, fractionation, storage, transportation, and terminaling of products such as ethane, propane, normal butane, iso-butane, and natural gasoline.
As a master limited partnership (MLP) in the oil and gas storage and transportation subsector, PAA generates revenue primarily through fee-based transportation, terminalling, and storage services, which are tied to volumes moved rather than commodity prices. The company operates as a subsidiary of Plains GP Holdings, L.P., the general partner entity that manages the partnerships operations and governance.
- Permian oil volumes drive crude pipeline tariff revenue higher
- NGL segment margins face pressure from weak propane ethane prices
- Distribution growth resumes as leverage targets are achieved
| Net Income: 2.77b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.33 > 1.0 |
| NWC/Revenue: 1.30% < 20% (prev 0.02%; Δ 1.28% < -1%) |
| CFO/TA 0.10 > 3% & CFO 2.98b > Net Income 2.77b |
| Net Debt (7.77b) to EBITDA (3.08b): 2.52 < 3 |
| Current Ratio: 1.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (706.0m) vs 12m ago 0.43% < -2% |
| Gross Margin: 4.49% > 18% (prev 28.42%; Δ -23.93% > 0.5%) |
| Asset Turnover: 185.3% > 50% (prev 176.0%; Δ 9.24% > 0%) |
| Interest Coverage Ratio: 3.43 > 6 (EBIT TTM 2.11b / Interest Expense TTM 614.0m) |
| DSRI: 1.35 (Receivables 5.27b/3.56b, Revenue 52.2b/47.8b) |
| GMI: 6.34 (GM 28.42% / 4.49%) |
| AQI: 0.66 (AQ_t 0.20 / AQ_t-1 0.30) |
| SGI: 1.09 (Revenue 52.2b / 47.8b) |
| TATA: -0.01 (NI 2.77b - CFO 2.98b) / TA 29.2b) |
| Beneish M = 1.96 (Cap -4..+1) = D |
As of September 01, 2026, the stock is trading at USD 25.65 with a total of 2,710,189 shares traded. Over the past week, the price has changed by +2.76%, over one month by +4.40%, over three months by +13.78% and over the past year by +56.96%.
Current recommended Stop Loss: 24.80 (which is 3.3% or 1.7 ATR below the current price).
Plains All American Pipeline has received a consensus analysts rating of 3.69. Therefore, it is recommended to hold PAA.
- StrongBuy: 6
- Buy: 1
- Hold: 7
- Sell: 2
- StrongSell: 0
| Analysts Target Price | 24.9 | -2.8% |
P/E Trailing = 21.8034
P/E Forward = 14.0845
P/S = 0.3441
P/B = 1.6322
P/EG = 2.3518
Revenue TTM = 52.2b USD
EBIT TTM = 2.11b USD
EBITDA TTM = 3.08b USD
Long Term Debt = 8.43b USD (from longTermDebt, last quarter)
Short Term Debt = 9.00m USD (from shortTermDebt, last quarter)
Debt = 8.83b USD (from shortLongTermDebtTotal, last quarter) + Leases 194.0m
Net Debt = 7.77b USD (calculated: Debt 8.83b - CCE 1.06b)
Enterprise Value = 25.8b USD (18.0b + Debt 8.83b - CCE 1.06b)
Interest Coverage Ratio = 3.43 (Ebit TTM 2.11b / Interest Expense TTM 614.0m)
EV/FCF = 10.85x (Enterprise Value 25.8b / FCF TTM 2.38b)
FCF Yield = 9.22% (FCF TTM 2.38b / Enterprise Value 25.8b)
FCF Margin = 4.55% (FCF TTM 2.38b / Revenue TTM 52.2b)
Net Margin = 5.30% (Net Income TTM 2.77b / Revenue TTM 52.2b)
Gross Margin = 4.49% ((Revenue TTM 52.2b - Cost of Revenue TTM 49.9b) / Revenue TTM)
Gross Margin QoQ = 4.57% (prev 2.79%)
Tobins Q-Ratio = 0.88 (Enterprise Value 25.8b / Total Assets 29.2b)
Interest Expense / Debt = 6.95% (Interest Expense 614.0m / Debt 8.83b)
Taxrate = 7.03% (105.0m / 1.49b)
NOPAT = 1.96b (EBIT 2.11b * (1 - 7.03%))
Current Ratio = 1.12 (Total Current Assets 6.54b / Total Current Liabilities 5.86b)
Debt / Equity = 0.80 (Debt 8.83b / totalStockholderEquity, last quarter 11.1b)
Debt / EBITDA = 2.52 (Net Debt 7.77b / EBITDA 3.08b)
Debt / FCF = 3.27 (Net Debt 7.77b / FCF TTM 2.38b)
Total Stockholder Equity = 10.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.81% (Net Income 2.77b / Total Assets 29.2b)
RoE = 27.46% (Net Income TTM 2.77b / Total Stockholder Equity 10.1b)
RoCE = 11.39% (EBIT 2.11b / Capital Employed (Equity 10.1b + L.T.Debt 8.43b))
RoIC = 8.78% (NOPAT 1.96b / Invested Capital 22.3b)
WACC = 6.57% (E(18.0b)/V(26.8b) * Re(6.62%) + D(8.83b)/V(26.8b) * Rd(6.95%) * (1-Tc(0.07)))
Discount Rate = 6.62% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.33 | Cagr: 0.32%
[DCF] Terminal Value 76.90% ; FCFF base≈2.27b ; Y1≈2.51b ; Y5≈3.22b
[DCF] Fair Price = 58.58 (EV 49.1b - Net Debt 7.77b = Equity 41.3b / Shares 705.6m; r=8.35% [WACC [floored]]; 5y FCF grow 12.13% → 2.50% )
EPS Correlation: 89.49 | EPS CAGR: 4.79% | SUE: 0.23 | # QB: 0
Revenue Correlation: -27.00 | Revenue CAGR: -1.33% | SUE: 4.0 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.45 | Chg30d=-5.09% | Revisions=-38% | Analysts=7
EPS current Year (2026-12-31): EPS=1.72 | Chg30d=+0.47% | Revisions=-44% | GrowthEPS=+11.5% | GrowthRev=+33.7%
EPS next Year (2027-12-31): EPS=1.88 | Chg30d=-6.34% | Revisions=+0% | GrowthEPS=+9.7% | GrowthRev=+2.5%
[Analyst] Revisions Ratio: -35% (up=5, down=12)