What are Plains All American Pipeline, L.P.'s profit margins?

Plains All American Pipeline, L.P. (PAA) runs a 8.5% gross margin and a 3.3% operating margin, with a 2.5% net margin.

Where do Plains All American Pipeline, L.P.'s ratios come from?

Every ratio is computed from Plains All American Pipeline, L.P.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Plains All American Pipeline, L.P. PAA Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	33.4%+6.3pp	32.6%+6.5pp	31.2%+5.1pp	28.9%+0.7pp	27.1%-3.2pp
Operating margin	10.5%+2.5pp	9%+0.3pp	7.5%-2.0pp	7.4%-2.2pp	8%-2.2pp
Net margin	10.2%+2.3pp	9.6%+1.4pp	7.9%-1.3pp	7.7%-1.8pp	7.9%-2.1pp
EBITDA margin	18.8%+3.4pp	17%+0.9pp	15.3%-1.7pp	14.9%-2.5pp	15.4%-2.7pp
Free cash flow margin	19.5%+1.8pp	19.6%+2.2pp	18.6%+0.4pp	18.7%+2.3pp	17.8%+0.6pp
Returns
Return on equity	35.3%+7.0pp	33.5%+4.5pp	28.3%-4.0pp	27.5%-6.1pp	28.2%-8.1pp
Return on assets	16.4%+2.4pp	16%+1.6pp	13.8%-2.2pp	13.5%-2.9pp	14%-3.6pp
Return on invested capital	20.8%+3.7pp	18.1%-0.5pp	15.4%-5.2pp	15.4%-4.9pp	17%-4.7pp
Efficiency
Asset turnover	6.5×-0.7×	6.7×-0.3×	7×0.0×	7.1×+0.1×	7.1×+0.1×
Inventory turnover	651.4×+4.4×	667.3×+16.6×	668.9×+37.2×	650.6×+30.7×	647×+42.3×
Liquidity
Current ratio	3.9×0.0×	4×+0.1×	4×+0.1×	4×+0.1×	4×+0.1×
Quick ratio	3.8×0.0×	3.8×+0.1×	3.8×+0.1×	3.8×+0.1×	3.8×+0.1×
Cash ratio	0.4×0.0×	0.5×+0.1×	0.5×+0.1×	0.4×+0.1×	0.4×0.0×
Leverage
Debt-to-equity	3.4×+0.7×	3.2×+0.6×	2.9×+0.3×	2.8×+0.2×	2.7×+0.1×
Debt-to-assets	1.5×+0.2×	1.5×+0.2×	1.4×+0.1×	1.3×+0.1×	1.3×0.0×
Net debt / EBITDA	19.8×+1.5×	20×+2.8×	19.5×+3.0×	19.2×+2.9×	18.2×+3.0×
Interest coverage	8.8×-0.4×	8.2×-2.1×	7.6×-3.9×	8×-3.7×	9.2×-3.6×
Valuation
Market capitalization	$53.17B+4.7%	$51.49B+5.0%	$50.84B+6.7%	$51.01B+10.5%	$50.79B+16.7%
Enterprise value	$95.14B+12.4%	$90.67B+10.3%	$86.21B+6.5%	$85.29B+6.8%	$84.65B+10.2%
Price / earnings	47.2×-6.9×	48.3×-2.5×	55×+11.2×	56×+14.7×	54.2×+17.7×
Price / sales	1.2×+0.1×	1.1×+0.1×	1.1×+0.1×	1.1×+0.1×	1×+0.1×
Price / book	4.1×+0.3×	4×+0.3×	3.9×+0.4×	3.9×+0.5×	3.8×+0.6×
EV / EBITDA	45.1×-0.5×	46.8×+4.1×	47.7×+7.4×	47.7×+9.1×	45.6×+10.4×
EV / sales	2.1×+0.3×	2×+0.2×	1.8×+0.1×	1.8×+0.1×	1.7×+0.2×
Free cash flow yield	67.7%-0.1pp	70.7%+2.7pp	69.6%-3.7pp	70.6%+2.7pp	67.9%-9.4pp
Earnings yield	35.2%+5.1pp	34.6%+2.6pp	29.7%-7.4pp	28.9%-10.6pp	30%-15.1pp

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Questions, answered.

What are Plains All American Pipeline, L.P.'s profit margins?: Plains All American Pipeline, L.P. (PAA) runs a 8.5% gross margin and a 3.3% operating margin, with a 2.5% net margin.
Where do Plains All American Pipeline, L.P.'s ratios come from?: Every ratio is computed from Plains All American Pipeline, L.P.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.