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Other financials

Income statement

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Revenue$12.5B+8.7%
Gross profit$977.0M+1.8%
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$16.47B+24.9%
Enterprise value$28.3B+28.2%
P/E14.4×-0.1×
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

Reported directly by Plains All American Pipeline, L.P. in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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 operating income?
Plains All American Pipeline, L.P. (PAA) reported operating income of $405M in Q1 2026.
How has Plains All American Pipeline, L.P.'s operating income changed year-over-year?
Plains All American Pipeline, L.P.'s operating income increased by 13.8% year-over-year, from $356M to $405M.
What is the long-term trend for Plains All American Pipeline, L.P.'s operating income?
Over 4 years (2021 to 2025), Plains All American Pipeline, L.P.'s operating income has grown at a 13.9% compound annual growth rate (CAGR), from $851M to $1.43B.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.