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Discontinued — last reported Q3 '25

Deferred Revenue at other companies

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$2.7M-51.8%
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$4.43B+40.8%
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$875M
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$11B-11.3%
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Workday, Inc.WDAY
$4.33B+13.5%
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AutodeskADSK
$4.21B+16.3%

Other financials

Income statement

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Revenue$12.5B+8.7%
Gross profit$977.0M+1.8%
Operating income$403.0M+13.5%
Net income$20.0M-76.2%

Balance sheet

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Cash & equivalents$172.0M-59.9%
Total debt$2.5B-74.0%
Total equity$14.1B-4.1%
Total assets$32.8B+16.0%

Cash flow

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Operating cash flow$418.0M-34.5%
CapEx$130.0M-7.1%
Free cash flow$288.0M-42.2%

Valuation

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Market cap$5.02B+31.7%
Enterprise value$7.31B-42.4%
P/E25.8×-2.3×
P/S0.1×0.0×

Profitability

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Gross margin8.5%+0.8pp
Operating margin3.3%+1.5pp
Net margin0.4%+0.1pp
FCF margin4.6%-0.1pp

Returns & leverage

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Return on equity1.3%+0.2pp
Debt / equity0.8×+0.1×
Current ratio0.9×-0.1×

Where this comes from

Reported directly by Plains GP Holdings, L.P. in its filing.

Tagged under the XBRL concept us-gaap:RevenueRemainingPerformanceObligation.

The source filing: Plains GP Holdings, L.P.’s 10-Q, filed November 7, 2025.

Filed
Nov 7, 2025
Fiscal quarter
Q3 FY2025
Calendar quarter
Q3 2025
Accession
0001581990-25-000028
Remainder of 202520262027202820292030 and Thereafter
Pipeline revenues supported by minimum volume commitments and capacity agreements (1)$$79$$286$$243$$205$$106$$425
Terminalling, storage and other agreement revenues59232203148105492
Total$$138$$518$$446$$353$$211$$917

Item 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FAQ

What is Plains GP Holdings, L.P.'s deferred revenue?
Plains GP Holdings, L.P. (PAGP) reported deferred revenue of $138M in Q3 2025.
How has Plains GP Holdings, L.P.'s deferred revenue changed year-over-year?
Plains GP Holdings, L.P.'s deferred revenue decreased by 15.9% year-over-year, from $164M to $138M.
What does deferred revenue mean?
Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

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