PLAINS ALL AMERICAN PIPELINE LP (PAA)
Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014
Balance Sheet Date2025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-31
Fiscal PeriodQ4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014
Total Revenue10,565,000,000$11,578,000,000$10,642,000,000$11,477,000,000$12,035,000,000$12,456,000,000$12,757,000,000$11,639,000,000$11,322,000,000$12,071,000,000$11,602,000,000$12,341,000,000$12,952,000,000$14,336,000,000$16,359,000,000$13,694,000,000$12,989,000,000$10,776,000,000$9,930,000,000$8,383,000,000$5,963,000,000$5,833,000,000$3,225,000,000$8,269,000,000$9,154,000,000$7,886,000,000$8,253,000,000$8,375,000,000$8,786,000,000$8,792,000,000$8,080,000,000$8,398,000,000$7,605,000,000$5,873,000,000$6,078,000,000$6,667,000,000$5,952,000,000$5,170,000,000$4,950,000,000$4,111,000,000$4,996,000,000$5,551,000,000$6,663,000,000$5,942,000,000$9,459,000,000$11,127,000,000$11,195,000,000$11,684,000,000$
QoQ%(8.75%)8.80%(7.28%)(4.64%)(3.38%)(2.36%)9.61%2.80%(6.21%)4.04%(5.99%)(4.72%)(9.65%)(12.37%)19.46%5.43%20.54%8.52%18.45%40.58%2.23%80.87%(61.00%)(9.67%)16.08%(4.45%)(1.46%)(4.68%)(.07%)8.81%(3.79%)10.43%29.49%(3.37%)(8.84%)12.01%15.13%4.44%20.41%(17.71%)(10.00%)(16.69%)12.13%(37.18%)(14.99%)(.61%)(4.19%)9.91%
YoY%(12.21%)(7.05%)(16.58%)(1.39%)6.30%3.19%9.96%(5.69%)(12.59%)(15.80%)(29.08%)(9.88%)(.29%)33.04%64.74%63.35%117.83%84.74%207.91%1.38%(34.86%)(26.03%)(60.92%)(1.27%)4.19%(10.31%)2.14%(.27%)15.53%49.70%32.94%25.96%27.77%13.60%22.79%62.18%19.14%(6.86%)(25.71%)(30.82%)(47.18%)(50.11%)(40.48%)(49.14%)(11.02%)3.96%8.74%10.02%
Cost Of Revenue9,571,000,000$10,585,000,000$9,758,000,000$10,761,000,000$11,076,000,000$11,540,000,000$11,838,000,000$10,917,000,000$10,965,000,000$11,106,000,000$10,544,000,000$11,323,000,000$11,995,000,000$13,071,000,000$15,324,000,000$12,785,000,000$11,761,000,000$10,074,000,000$9,277,000,000$7,392,000,000$5,431,000,000$5,107,000,000$2,525,000,000$7,367,000,000$8,234,000,000$6,855,000,000$7,244,000,000$7,119,000,000$6,955,000,000$7,768,000,000$7,551,000,000$7,519,000,000$6,746,000,000$5,327,000,000$5,320,000,000$5,593,000,000$5,233,000,000$4,429,000,000$4,224,000,000$3,348,000,000$4,135,000,000$5,064,000,000$6,292,000,000$5,429,000,000$8,795,000,000$10,597,000,000$10,707,000,000$11,075,000,000$
Gross Profit994,000,000$993,000,000$884,000,000$716,000,000$959,000,000$916,000,000$919,000,000$722,000,000$357,000,000$965,000,000$1,058,000,000$1,018,000,000$957,000,000$1,265,000,000$1,035,000,000$909,000,000$1,228,000,000$702,000,000$653,000,000$991,000,000$532,000,000$726,000,000$700,000,000$902,000,000$920,000,000$1,031,000,000$1,009,000,000$1,256,000,000$1,831,000,000$1,024,000,000$529,000,000$879,000,000$859,000,000$546,000,000$758,000,000$1,074,000,000$719,000,000$741,000,000$726,000,000$763,000,000$861,000,000$487,000,000$371,000,000$513,000,000$664,000,000$530,000,000$488,000,000$609,000,000$
Gross Margin9.41%8.58%8.31%6.24%7.97%7.35%7.20%6.20%3.15%7.99%9.12%8.25%7.39%8.82%6.33%6.64%9.45%6.51%6.58%11.82%8.92%12.45%21.71%10.91%10.05%13.07%12.23%15.00%20.84%11.65%6.55%10.47%11.30%9.30%12.47%16.11%12.08%14.33%14.67%18.56%17.23%8.77%5.57%8.63%7.02%4.76%4.36%5.21%
Operating Expenses639,000,000$509,000,000$645,000,000$362,000,000$975,000,000$720,000,000$587,000,000$366,000,000$184,000,000$731,000,000$680,000,000$545,000,000$995,000,000$639,000,000$624,000,000$616,000,000$629,000,000$740,000,000$889,000,000$465,000,000$597,000,000$473,000,000$490,000,000$3,675,000,000$589,000,000$539,000,000$558,000,000$542,000,000$516,000,000$531,000,000$441,000,000$498,000,000$598,000,000$502,000,000$501,000,000$483,000,000$501,000,000$392,000,000$580,000,000$481,000,000$517,000,000$152,000,000$160,000,000$141,000,000$132,000,000$124,000,000$121,000,000$114,000,000$
Operating Income355,000,000$484,000,000$239,000,000$354,000,000$(16,000,000$)196,000,000$332,000,000$356,000,000$173,000,000$234,000,000$378,000,000$473,000,000$(38,000,000$)626,000,000$411,000,000$293,000,000$599,000,000$(38,000,000$)(236,000,000$)526,000,000$(65,000,000$)253,000,000$210,000,000$(2,773,000,000$)331,000,000$492,000,000$451,000,000$714,000,000$1,315,000,000$493,000,000$88,000,000$381,000,000$261,000,000$44,000,000$257,000,000$591,000,000$218,000,000$349,000,000$146,000,000$282,000,000$344,000,000$335,000,000$211,000,000$372,000,000$532,000,000$406,000,000$367,000,000$495,000,000$
Operating Margin3.36%4.18%2.25%3.08%(.13%)1.57%2.60%3.06%1.53%1.94%3.26%3.83%(.29%)4.37%2.51%2.14%4.61%(.35%)(2.38%)6.28%(1.09%)4.34%6.51%(33.54%)3.62%6.24%5.47%8.53%14.97%5.61%1.09%4.54%3.43%.75%4.23%8.87%3.66%6.75%2.95%6.86%6.89%6.04%3.17%6.26%5.62%3.65%3.28%4.24%
Interest Income
Interest Expenses95,000,000$96,000,000$97,000,000$95,000,000$98,000,000$100,000,000$99,000,000$99,000,000$107,000,000$106,000,000$106,000,000$107,000,000$107,000,000$107,000,000$113,000,000$108,000,000$108,000,000$114,000,000$108,000,000$103,000,000$101,000,000$104,000,000$110,000,000$111,000,000$106,000,000$120,000,000$134,000,000$127,000,000$129,000,000$128,000,000$113,000,000$114,000,000$112,000,000$112,000,000$109,000,000$107,000,000$105,000,000$102,000,000$85,000,000$82,000,000$78,000,000$
Income Before Tax323,000,000$459,000,000$231,000,000$566,000,000$61,000,000$206,000,000$350,000,000$365,000,000$186,000,000$265,000,000$392,000,000$528,000,000$322,000,000$551,000,000$298,000,000$246,000,000$585,000,000$(85,000,000$)(226,000,000$)447,000,000$(51,000,000$)143,000,000$132,000,000$(2,824,000,000$)332,000,000$495,000,000$425,000,000$994,000,000$1,280,000,000$700,000,000$84,000,000$349,000,000$205,000,000$(11,000,000$)199,000,000$510,000,000$138,000,000$299,000,000$97,000,000$222,000,000$281,000,000$267,000,000$157,000,000$300,000,000$471,000,000$344,000,000$310,000,000$433,000,000$
Tax Expenses(2,000,000$)6,000,000$4,000,000$50,000,000$16,000,000$8,000,000$52,000,000$14,000,000$(21,000,000$)(14,000,000$)43,000,000$53,000,000$12,000,000$109,000,000$47,000,000$21,000,000$89,000,000$(30,000,000$)(10,000,000$)24,000,000$(26,000,000$)(3,000,000$)(12,000,000$)21,000,000$24,000,000$41,000,000$(23,000,000$)24,000,000$163,000,000$(10,000,000$)(16,000,000$)61,000,000$14,000,000$(45,000,000$)10,000,000$66,000,000$10,000,000$1,000,000$(5,000,000$)19,000,000$34,000,000$17,000,000$33,000,000$16,000,000$81,000,000$20,000,000$22,000,000$48,000,000$
Net Income427,000,000$529,000,000$297,000,000$516,000,000$119,000,000$312,000,000$330,000,000$351,000,000$399,000,000$279,000,000$349,000,000$475,000,000$310,000,000$442,000,000$251,000,000$225,000,000$496,000,000$(55,000,000$)(216,000,000$)423,000,000$(25,000,000$)146,000,000$144,000,000$(2,845,000,000$)307,000,000$454,000,000$448,000,000$970,000,000$1,117,000,000$710,000,000$100,000,000$288,000,000$191,000,000$34,000,000$189,000,000$444,000,000$127,000,000$298,000,000$102,000,000$203,000,000$248,000,000$250,000,000$124,000,000$284,000,000$390,000,000$324,000,000$288,000,000$385,000,000$
Profit Margin4.04%4.57%2.79%4.50%.99%2.51%2.59%3.02%3.52%2.31%3.01%3.85%2.39%3.08%1.53%1.64%3.82%(.51%)(2.18%)5.05%(.42%)2.50%4.47%(34.41%)3.35%5.76%5.43%11.58%12.71%8.08%1.24%3.43%2.51%.58%3.11%6.66%2.13%5.76%2.06%4.94%4.96%4.50%1.86%4.78%4.12%2.91%2.57%3.30%
TTM4.00%3.20%2.67%2.62%2.28%2.89%2.84%2.96%3.17%2.89%3.08%2.64%2.14%2.46%1.70%.95%1.54%.36%1.09%2.94%(11.08%)(8.49%)(6.80%)(4.88%)6.47%8.98%9.49%8.51%6.50%3.92%2.05%2.51%3.27%3.23%4.43%4.27%3.62%4.43%4.10%3.87%3.91%3.80%3.38%3.41%3.19%2.95%2.78%2.86%
Earnings to Minority85,000,000$88,000,000$87,000,000$73,000,000$84,000,000$92,000,000$80,000,000$85,000,000$87,000,000$76,000,000$56,000,000$53,000,000$47,000,000$58,000,000$48,000,000$38,000,000$46,000,000$4,000,000$4,000,000$1,000,000$3,000,000$3,000,000$2,000,000$2,000,000$2,000,000$5,000,000$2,000,000$0$1,000,000$1,000,000$0$1,000,000$1,000,000$1,000,000$1,000,000$1,000,000$1,000,000$0$1,000,000$0$1,000,000$1,000,000$1,000,000$
Earnings to Common Shareholders342,000,000$441,000,000$210,000,000$443,000,000$36,000,000$220,000,000$250,000,000$266,000,000$312,000,000$203,000,000$293,000,000$422,000,000$263,000,000$384,000,000$203,000,000$187,000,000$450,000,000$(59,000,000$)(220,000,000$)422,000,000$(28,000,000$)143,000,000$142,000,000$(2,847,000,000$)306,000,000$449,000,000$446,000,000$970,000,000$1,117,000,000$710,000,000$100,000,000$288,000,000$191,000,000$33,000,000$188,000,000$444,000,000$126,000,000$297,000,000$101,000,000$202,000,000$247,000,000$249,000,000$124,000,000$283,000,000$389,000,000$323,000,000$287,000,000$384,000,000$
QoQ%(22.45%)110.00%(52.60%)1,130.56%(83.64%)(12.00%)(6.02%)(14.74%)53.70%(30.72%)(30.57%)60.46%(31.51%)89.16%8.56%(58.44%)862.71%73.18%(152.13%)1,607.14%(119.58%).70%104.99%(1,030.39%)(31.85%).67%(54.02%)(13.16%)57.32%610.00%(65.28%)50.79%478.79%(82.45%)(57.66%)252.38%(57.58%)194.06%(50.00%)(18.22%)(.80%)100.81%(56.18%)(27.25%)20.43%12.54%(25.26%)24.27%
YoY%850.00%100.46%(16.00%)66.54%(88.46%)8.37%(14.68%)(36.97%)18.63%(47.14%)44.34%125.67%(41.56%)750.85%192.27%(55.69%)1,707.14%(141.26%)(254.93%)114.82%(109.15%)(68.15%)(68.16%)(393.51%)(72.61%)(36.76%)346.00%236.81%484.82%2,051.52%(46.81%)(35.14%)51.59%(88.89%)86.14%119.80%(48.99%)19.28%(18.55%)(28.62%)(36.50%)(22.91%)(56.79%)(26.30%)25.89%39.83%(1.71%)(27.27%)
Earnings Per Share, Basic
Earnings Per Share, Diluted
Unlevered FCF Per Share, Basic
Unlevered FCF Per Share, Diluted
Average Shares, Basic
Average Shares, Diluted
EBIT323,000,000$459,000,000$231,000,000$566,000,000$61,000,000$206,000,000$350,000,000$460,000,000$282,000,000$362,000,000$487,000,000$626,000,000$422,000,000$650,000,000$397,000,000$353,000,000$691,000,000$21,000,000$(119,000,000$)554,000,000$56,000,000$256,000,000$240,000,000$(2,716,000,000$)446,000,000$603,000,000$528,000,000$1,095,000,000$1,384,000,000$810,000,000$195,000,000$455,000,000$325,000,000$123,000,000$326,000,000$639,000,000$266,000,000$412,000,000$211,000,000$334,000,000$393,000,000$376,000,000$264,000,000$405,000,000$573,000,000$429,000,000$392,000,000$511,000,000$
EBITDA580,000,000$689,000,000$466,000,000$828,000,000$287,000,000$432,000,000$576,000,000$714,000,000$415,000,000$622,000,000$746,000,000$882,000,000$676,000,000$888,000,000$639,000,000$583,000,000$914,000,000$199,000,000$77,000,000$731,000,000$216,000,000$416,000,000$406,000,000$(2,548,000,000$)608,000,000$759,000,000$675,000,000$1,231,000,000$1,519,000,000$939,000,000$325,000,000$582,000,000$441,000,000$274,000,000$455,000,000$760,000,000$429,000,000$445,000,000$415,000,000$448,000,000$506,000,000$483,000,000$372,000,000$509,000,000$672,000,000$526,000,000$492,000,000$607,000,000$