(PAA) Plains All American Pipeline - Overview

Sector: Energy | Industry: Oil & Gas Midstream | Exchange: NASDAQ (USA) | Market Cap: 15.441m USD | Total Return: 37.1% in 12m

Crude Oil, Natural Gas Liquids, Transportation, Storage, Terminaling
Total Rating 38
Safety 33
Buy Signal -0.14
Oil & Gas Midstream
Industry Rotation: -27.9
Market Cap: 15.4B
Avg Turnover: 61.4M USD
ATR: 2.29%
Peers RS (IBD): 49.0
Risk 5d forecast
Volatility21.2%
Rel. Tail Risk2.94%
Reward TTM
Sharpe Ratio1.60
Alpha22.38
Character TTM
Beta0.511
Beta Downside0.468
Drawdowns 3y
Max DD22.26%
CAGR/Max DD1.26
EPS (Earnings per Share) EPS (Earnings per Share) of PAA over the last years for every Quarter: "2021-03": 0.51, "2021-06": 0.23, "2021-09": 0.22, "2021-12": 0.25, "2022-03": 0.31, "2022-06": 0.3, "2022-09": 0.33, "2022-12": 0.33, "2023-03": 0.41, "2023-06": 0.25, "2023-09": 0.35, "2023-12": 0.42, "2024-03": 0.41, "2024-06": 0.31, "2024-09": 0.22, "2024-12": 0.42, "2025-03": 0.39, "2025-06": 0.36, "2025-09": 0.39, "2025-12": 0.4,
EPS CAGR: 7.03%
EPS Trend: 32.5%
Last SUE: -0.67
Qual. Beats: 0
Revenue Revenue of PAA over the last years for every Quarter: 2021-03: 8383, 2021-06: 9930, 2021-09: 10776, 2021-12: 12989, 2022-03: 13694, 2022-06: 16360, 2022-09: 14336, 2022-12: 12952, 2023-03: 12341, 2023-06: 11602, 2023-09: 12071, 2023-12: 12698, 2024-03: 11995, 2024-06: 12757, 2024-09: 12743, 2024-12: 12402, 2025-03: 12011, 2025-06: 10642, 2025-09: 11578, 2025-12: 10564,
Rev. CAGR: -6.69%
Rev. Trend: -76.8%
Last SUE: -2.30
Qual. Beats: 0

Warnings

Beneish M-Score 1.00 > -1.5 - likely earnings manipulation

Tailwinds

No distinct edge detected

Description: PAA Plains All American Pipeline

Plains All American Pipeline L.P. (NASDAQ: PAA) operates a North-American network that transports, stores, and processes crude oil and natural-gas liquids (NGLs) through two primary segments: Crude Oil, which handles gathering, pipeline, truck, barge and rail transport plus terminaling and merchant services; and NGL, which focuses on gas processing, fractionation, storage, and transportation of products such as ethane, propane, butanes and natural gasoline for heating, engine and industrial fuel uses. The company, founded in 1981 and headquartered in Houston, Texas, is a subsidiary of Plains GP Holdings.

Recent performance highlights include Q4 2025 adjusted EBITDA of $1.2 billion on revenue of $2.1 billion, and a net income of $450 million, reflecting an 85 % pipeline utilization rate. NGL volumes reached 1.3 million barrels per day, with average NGL pricing at $1.45 per gallon, buoyed by strong petrochemical demand and a 12 % YoY rise in U.S. crude production. A key sector driver remains the tightening of storage capacity amid elevated crude inventories, which supports higher terminal fees and utilization.

For a deeper dive, you might explore ValueRay’s analyst notes on PAA.

Headlines to Watch Out For
  • Crude oil transportation volumes impact pipeline revenue
  • NGL processing margins affect segment profitability
  • Regulatory changes increase operational compliance costs
  • Commodity price volatility influences merchant activities
  • Interest rate hikes raise debt servicing expenses
Piotroski VR‑10 (Strict) 3.0
Net Income: 1.44b TTM > 0 and > 6% of Revenue
FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.32 > 1.0
NWC/Revenue: -0.44% < 20% (prev 0.26%; Δ -0.71% < -1%)
CFO/TA 0.10 > 3% & CFO 2.94b > Net Income 1.44b
Net Debt (6.57b) to EBITDA (3.09b): 2.13 < 3
Current Ratio: 0.96 > 1.5 & < 3
Outstanding Shares: last quarter (706.0m) vs 12m ago 0.28% < -2%
Gross Margin: 4.84% > 18% (prev 0.27%; Δ 457.4% > 0.5%)
Asset Turnover: 157.9% > 50% (prev 187.9%; Δ -29.93% > 0%)
Interest Coverage Ratio: 3.85 > 6 (EBITDA TTM 3.09b / Interest Expense TTM 554.0m)
Beneish M 1.00
DSRI: 1.12 (Receivables 3.93b/3.90b, Revenue 44.80b/49.90b)
GMI: 5.58 (GM 4.84% / 27.02%)
AQI: 1.29 (AQ_t 0.28 / AQ_t-1 0.22)
SGI: 0.90 (Revenue 44.80b / 49.90b)
TATA: -0.05 (NI 1.44b - CFO 2.94b) / TA 30.17b)
Beneish M-Score: 1.27 (Cap -4..+1) = D
What is the price of PAA shares? As of April 16, 2026, the stock is trading at USD 21.59 with a total of 3,516,244 shares traded.
Over the past week, the price has changed by -2.99%, over one month by +1.62%, over three months by +15.70% and over the past year by +37.08%.
Is PAA a buy, sell or hold? Plains All American Pipeline has received a consensus analysts rating of 3.69. Therefor, it is recommend to hold PAA.
  • StrongBuy: 6
  • Buy: 1
  • Hold: 7
  • Sell: 2
  • StrongSell: 0
What are the forecasts/targets for the PAA price?
Analysts Target Price 21.9 1.4%
Plains All American Pipeline (PAA) - Fundamental Data Overview as of 11 April 2026
P/E Trailing = 19.5402
P/E Forward = 11.7925
P/S = 0.3488
P/B = 1.5572
P/EG = 2.3518
Revenue TTM = 44.80b USD
EBIT TTM = 2.13b USD
EBITDA TTM = 3.09b USD
Long Term Debt = 10.70b USD (from longTermDebt, last quarter)
Short Term Debt = 202.0m USD (from shortTermDebt, last quarter)
Debt = 11.30b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.57b USD (from netDebt column, last quarter)
Enterprise Value = 22.01b USD (15.44b + Debt 11.30b - CCE 4.73b)
Interest Coverage Ratio = 3.85 (Ebit TTM 2.13b / Interest Expense TTM 554.0m)
EV/FCF = 9.60x (Enterprise Value 22.01b / FCF TTM 2.29b)
FCF Yield = 10.42% (FCF TTM 2.29b / Enterprise Value 22.01b)
FCF Margin = 5.12% (FCF TTM 2.29b / Revenue TTM 44.80b)
Net Margin = 3.21% (Net Income TTM 1.44b / Revenue TTM 44.80b)
Gross Margin = 4.84% ((Revenue TTM 44.80b - Cost of Revenue TTM 42.62b) / Revenue TTM)
Gross Margin QoQ = 6.74% (prev 4.10%)
Tobins Q-Ratio = 0.73 (Enterprise Value 22.01b / Total Assets 30.17b)
Interest Expense / Debt = 1.41% (Interest Expense 159.0m / Debt 11.30b)
Taxrate = 1.07% (15.0m / 1.40b)
NOPAT = 2.11b (EBIT 2.13b * (1 - 1.07%))
Current Ratio = 0.96 (Total Current Assets 4.73b / Total Current Liabilities 4.93b)
Debt / Equity = 1.15 (Debt 11.30b / totalStockholderEquity, last quarter 9.84b)
Debt / EBITDA = 2.13 (Net Debt 6.57b / EBITDA 3.09b)
Debt / FCF = 2.86 (Net Debt 6.57b / FCF TTM 2.29b)
Total Stockholder Equity = 9.73b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.06% (Net Income 1.44b / Total Assets 30.17b)
RoE = 14.75% (Net Income TTM 1.44b / Total Stockholder Equity 9.73b)
RoCE = 10.44% (EBIT 2.13b / Capital Employed (Equity 9.73b + L.T.Debt 10.70b))
RoIC = 10.96% (NOPAT 2.11b / Invested Capital 19.25b)
WACC = 5.08% (E(15.44b)/V(26.74b) * Re(7.78%) + D(11.30b)/V(26.74b) * Rd(1.41%) * (1-Tc(0.01)))
Discount Rate = 7.78% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 100.0 | Cagr: 0.36%
[DCF] Terminal Value 87.40% ; FCFF base≈2.15b ; Y1≈2.41b ; Y5≈3.22b
[DCF] Fair Price = 124.6 (EV 94.47b - Net Debt 6.57b = Equity 87.90b / Shares 705.5m; r=6.0% [WACC]; 5y FCF grow 14.10% → 3.0% )
EPS Correlation: 32.50 | EPS CAGR: 7.03% | SUE: -0.67 | # QB: 0
Revenue Correlation: -76.80 | Revenue CAGR: -6.69% | SUE: -2.30 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.36 | Chg7d=+0.010 | Chg30d=+0.013 | Revisions Net=-2 | Analysts=7
EPS current Year (2026-12-31): EPS=1.55 | Chg7d=+0.015 | Chg30d=+0.001 | Revisions Net=+0 | Growth EPS=+0.7% | Growth Revenue=+7.4%
EPS next Year (2027-12-31): EPS=1.60 | Chg7d=+0.008 | Chg30d=-0.004 | Revisions Net=+0 | Growth EPS=+3.5% | Growth Revenue=-0.2%
[Analyst] Revisions Ratio: -1.00 (0 Up / 2 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 2.8% (Discount Rate 7.9% - Earnings Yield 5.1%)
[Growth] Growth Spread = +5.0% (Analyst 7.8% - Implied 2.8%)
External Resources
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