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Plains GP Holdings, L.P. PAGP NGL — Long-term inventory costing adjustments

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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 pagp:LongTermInventoryCostingAdjustments.

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
Other segment items (2):
Depreciation and amortization of unconsolidated entities (3)20
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)

Item 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FAQ

What is Plains GP Holdings, L.P.'s NGL — long-term inventory costing adjustments?
Plains GP Holdings, L.P. (PAGP) reported NGL — long-term inventory costing adjustments of $0 in Q1 2026.
How has Plains GP Holdings, L.P.'s NGL — long-term inventory costing adjustments changed year-over-year?
Plains GP Holdings, L.P.'s NGL — long-term inventory costing adjustments increased by 100.0% year-over-year, from -$3M to $0.
What does NGL — long-term inventory costing adjustments mean?
Reflects adjustments made to the valuation of long-term inventory holdings, often due to changes in accounting standards or shifts in long-term market price trends. It provides insight into the stability and valuation accuracy of the segment's inventory assets.

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