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Plains All American Pipeline, L.P. PAA NGL — Field operating costs

Other segment segments

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$291M-0.3%

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Other financials

Income statement

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Revenue$12.5B+8.7%
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$17.14B+31.1%
Enterprise value$28.96B+31.9%
P/E15×+0.6×
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:OperatingCostsAndExpenses.

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 NGL — field operating costs?
Plains All American Pipeline, L.P. (PAA) reported NGL — field operating costs of $10M in Q1 2026.
How has Plains All American Pipeline, L.P.'s NGL — field operating costs changed year-over-year?
Plains All American Pipeline, L.P.'s NGL — field operating costs increased by 25.0% year-over-year, from $8M to $10M.
What is the long-term trend for Plains All American Pipeline, L.P.'s NGL — field operating costs?
Over 3 years (2022 to 2025), Plains All American Pipeline, L.P.'s NGL — field operating costs has grown at a -54.7% compound annual growth rate (CAGR), from $312M to $29M.
What does NGL — field operating costs mean?
Encompasses the direct expenses required to operate and maintain NGL infrastructure, including labor, utilities, and routine maintenance. These costs represent the operational footprint of the segment's physical assets.