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Other financials

Income statement

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Revenue$12.5B+8.7%
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$17.42B+33.7%
Enterprise value$29.25B+33.5%
P/E15.2×+0.9×
P/S0.4×+0.1×

Profitability

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Gross margin8.5%+0.8pp
Operating margin3.3%+1.5pp
Net margin2.5%+0.6pp
FCF margin4.6%-0.1pp

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.

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 gross profit?
Plains All American Pipeline, L.P. (PAA) reported gross profit of $977M in Q1 2026.
How has Plains All American Pipeline, L.P.'s gross profit changed year-over-year?
Plains All American Pipeline, L.P.'s gross profit increased by 1.8% year-over-year, from $960M to $977M.
What is the long-term trend for Plains All American Pipeline, L.P.'s gross profit?
Over 4 years (2021 to 2025), Plains All American Pipeline, L.P.'s gross profit has grown at a 1.7% compound annual growth rate (CAGR), from $3.57B to $3.83B.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.