What does NGL — equity earnings in unconsolidated entities mean?

Reflects the segment's proportional share of net income from investments in joint ventures or partnerships that are not consolidated in the financial statements. It indicates the profitability of the segment's strategic partnerships and minority interests.

Plains GP Holdings, L.P. PAGP NGL — Equity earnings in unconsolidated entities

Other segment segments

Crude Oil

$89M-13.6%

Similar metrics at other companies

ETNGL and refined products transportation and services — Equity in earnings of unconsolidated affiliates

$19M+11.8%

EPDNGL Pipelines & Services — Equity in income of unconsolidated affiliates

$19M-5.0%

OKENatural Gas Liquids — Equity in net earnings from investments

$24M-11.1%

PAANGL — Segment amounts attributable to noncontrolling interests

$0—

MPLXNatural Gas & NGL Services — Equity Method Income

$120M-7.7%

PAANGL — Segment Adjusted EBITDA

-$7M-40.0%

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$4.6B+13.8%

Enterprise value$6.89B-46.5%

P/E23.6×-4.3×

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:IncomeLossFromEquityMethodInvestments.

The official record: Plains GP Holdings, L.P.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Plains GP Holdings, L.P.'s NGL — equity earnings in unconsolidated entities?: Plains GP Holdings, L.P. (PAGP) reported NGL — equity earnings in unconsolidated entities of $0 in Q1 2026.
What does NGL — equity earnings in unconsolidated entities mean?: Reflects the segment's proportional share of net income from investments in joint ventures or partnerships that are not consolidated in the financial statements. It indicates the profitability of the segment's strategic partnerships and minority interests.