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Plains GP Holdings, L.P. PAGP NGL — Equity-indexed compensation expense

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PAANGL — Significant Segment Expenses
$48M+4.3%

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 pagp:EquityIndexedCompensationExpenseAwardsThatWillBeSettledInUnits.

The source filing: Plains GP Holdings, L.P.’s 10-Q, filed May 8, 2026.

Filed
May 8, 2026, 4:46 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001581990-26-000017
Three Months Ended March 31, 2026Crude OilNGLIntersegment EliminationTotal
Derivative activities and inventory valuation adjustments (4)130
Long-term inventory costing adjustments (5)(112)
Deficiencies under minimum volume commitments, net (6)(32)
Equity-indexed compensation expense (7)10
Foreign currency revaluation (8)(4)
Segment amounts attributable to noncontrolling interests in consolidated joint ventures (9)(121)
Total other segment items(109)
Segment Adjusted EBITDA$582$(7)

Item 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FAQ

What is Plains GP Holdings, L.P.'s NGL — equity-indexed compensation expense?
Plains GP Holdings, L.P. (PAGP) reported NGL — equity-indexed compensation expense of $0 in Q1 2026.
What does NGL — equity-indexed compensation expense mean?
Reflects the non-cash expense associated with employee compensation plans tied to the performance of the company's equity units. It serves as an indicator of long-term incentive alignment between management and unit holders within the specific business segment.

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