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Other financials

Income statement

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Revenue$12.5B+8.6%
Gross profit$977.0M+1.8%
Operating income$405.0M+13.8%
Net income$152.0M-65.7%

Balance sheet

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Cash & equivalents$171.0M-60.0%
Total debt$12.0B+26.8%
Total equity$12.8B-0.3%
Total assets$31.6B+16.9%

Cash flow

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Operating cash flow$418.0M-34.6%
CapEx$130.0M-7.1%
Free cash flow$288.0M-42.3%

Valuation

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Market cap$15.06B+11.9%
Enterprise value$26.88B+19.4%
P/E13.2×-1.0×
P/S0.3×+0.1×

Profitability

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Gross margin8.5%+0.8pp
Operating margin3.3%+1.5pp
Net margin2.5%+0.6pp

Returns & leverage

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Return on equity8.9%+1.8pp
Debt / equity0.9×+0.2×
Current ratio0.9×-0.1×

Where this comes from

Calculated from Plains All American Pipeline, L.P.’s reported figures.

Based on the most recent quarter.

The official record: Plains All American Pipeline, L.P.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Plains All American Pipeline, L.P.'s debt-to-assets?
Plains All American Pipeline, L.P. (PAA) reported debt-to-assets of 0.4× in Q1 2026.
How has Plains All American Pipeline, L.P.'s debt-to-assets changed year-over-year?
Plains All American Pipeline, L.P.'s debt-to-assets increased by 8.5% year-over-year, from 0.3× to 0.4×.
What is the long-term trend for Plains All American Pipeline, L.P.'s debt-to-assets?
Over 4 years (2021 to 2025), Plains All American Pipeline, L.P.'s debt-to-assets has grown at a -2.8% compound annual growth rate (CAGR), from 1.7× to 1.5×.
What does debt-to-assets mean?
What fraction of everything the company owns is funded by debt.
How do you interpret debt-to-assets?
A lower ratio indicates a more conservatively financed balance sheet. Rising debt-to-assets over time signals increasing financial risk.
How does debt-to-assets compare across companies?
Comparable within an industry; bounded between 0 and 1 for most non-financials, which makes cross-company reads cleaner than debt-to-equity.