Plains All American Pipeline LP (PAA)
Insiders here have filed 18 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Profitable, but on a thin margin.
- Revenue
- $52.22B
- Net income
- $2.77B
- Net margin
- 5.3%
A manageable debt load.
- Total debt
- $8.63B
- Cash
- $1.06B
- Net debt / EBITDA
- 2.46x
Covers near-term obligations, without much room.
- Current assets
- $6.54B
- Current liabilities
- $5.86B
- Current ratio
- 1.12
The business funds itself from operations.
- Operating cash flow
- $2.98B
- Free cash flow
- $2.38B
- FCF margin
- 4.5%
Not funding itself by issuing shares.
- Shares outstanding
- 706.0M
- Share growth (1y)
- 0.4%
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
PAA Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 17.69 B | 12.38 B | 10.56 B | 11.58 B | 10.64 B | 12.01 B |
| Revenue Growth (YoY) | 66.26 % | 3.09 % | -14.82 % | -9.14 % | -16.58 % | 0.13 % |
| Cost of Revenue | 16.88 B | 12.04 B | 9.85 B | 11.10 B | 10.28 B | 11.39 B |
| Gross Profit | 809.00 M | 346.00 M | 712.00 M | 475.00 M | 363.00 M | 620.00 M |
| SG&A Expense | 110.00 M | 81.00 M | 98.00 M | 83.00 M | 82.00 M | 100.00 M |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 411.00 M | 81.00 M | 358.00 M | -9.00 M | 124.00 M | 87.00 M |
| Operating Income | 398.00 M | 265.00 M | 354.00 M | 484.00 M | 239.00 M | 533.00 M |
| Pretax Income | 376.00 M | 335.00 M | 323.00 M | 459.00 M | 231.00 M | 566.00 M |
| Tax Provision | 100.00 M | 1.00 M | -2.00 M | 6.00 M | 4.00 M | 50.00 M |
| Net Income | 1.83 B | 152.00 M | 342.00 M | 441.00 M | 210.00 M | 443.00 M |
| EPS (Basic) | 2.51 | 0.14 | 0.41 | 0.55 | 0.23 | 0.49 |
| EPS (Diluted) | 2.51 | 0.14 | 0.41 | 0.55 | 0.23 | 0.49 |
| Shares Outstanding | 706.00 M | 706.00 M | 706.00 M | 704.00 M | 703.00 M | 704.00 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.