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Plains All American Pipeline, L.P. PAA Net margin

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$15.23B+11.9%
Enterprise value$27.05B+19.4%
P/E13.3×-1.0×
P/S0.3×+0.1×

Profitability

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

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.

net income/total revenue=2.5%

Based on trailing twelve months.

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 net margin?
Plains All American Pipeline, L.P. (PAA) reported net margin of 2.5% in Q1 2026.
How has Plains All American Pipeline, L.P.'s net margin changed year-over-year?
Plains All American Pipeline, L.P.'s net margin increased by 29.9% year-over-year, from 1.9% to 2.5%.
What is the long-term trend for Plains All American Pipeline, L.P.'s net margin?
Over 4 years (2021 to 2025), Plains All American Pipeline, L.P.'s net margin has grown at a 14.0% compound annual growth rate (CAGR), from 5.7% to 9.6%.
What does net margin mean?
The share of every sales dollar that becomes bottom-line profit.
How do you interpret net margin?
Higher is better, but net margin mixes operating performance with financing and tax effects and one-off items — read it alongside operating margin to separate the operating story from the rest.
How does net margin compare across companies?
Comparable across peers but sensitive to leverage and tax structure; two operationally identical firms can show different net margins purely from financing.