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Plains GP Holdings, L.P. PAGP NGL — Field operating costs

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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$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:OperatingCostsAndExpenses.

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
Total revenues12,54841(119)12,470
Significant segment expenses:
Purchases and related costs (1)(11,579)(33)119(11,493)
Field operating costs(291)(10)(301)
Segment general and administrative expenses(76)(5)(81)
Total significant segment expenses(11,946)(48)119(11,875)
Equity earnings in unconsolidated entities89
Other segment items (2):

Item 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FAQ

What is Plains GP Holdings, L.P.'s NGL — field operating costs?
Plains GP Holdings, L.P. (PAGP) reported NGL — field operating costs of $10M in Q1 2026.
How has Plains GP Holdings, L.P.'s NGL — field operating costs changed year-over-year?
Plains GP Holdings, 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 GP Holdings, L.P.'s NGL — field operating costs?
Over 3 years (2022 to 2025), Plains GP Holdings, 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?
Captures the direct operational expenses incurred to maintain and run the physical infrastructure, such as pipelines and processing facilities, within the NGL segment. These costs are essential for assessing the operational efficiency of the segment's asset base.

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