PAA NASDAQ
Plains All American Pipeline, L.P.
1W: +6.3%
1M: +9.9%
3M: +11.8%
YTD: +50.7%
1Y: +63.3%
3Y: +102.8%
5Y: +234.4%
$26.41
-0.44 (-1.64%)
After Hours: $26.62 (+0.21, +0.78%)
Weekly Expected Move ±2.4%
$25
$26
$27
$27
$28
Credit Risk of going bust: lower than 84% of companies Debt: 31.3% of company value Bonds: $497.0M held by 394 funds, 106 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.51 (down 98%), Plains All American Pipeline, L.P. would be worth roughly what it owes.
Total debt $8.63B against a stock market value of $18.94B.
Distance to default 10.80 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $4.22B (short-term plus half of long-term), stock volatility 19.4%; Altman Z'' 1.42. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $0.51 (down 98%), Plains All American Pipeline, L.P. would be worth roughly what it owes.
Total debt $8.63B against a stock market value of $18.94B.
Distance to default 10.80 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $4.22B (short-term plus half of long-term), stock volatility 19.4%; Altman Z'' 1.42. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$2.9B
+17.9% ▲
5Y CAGR: +14.2%
Capital Expenditures
$643M
-3.9% ▼
5Y CAGR: -2.7%
Free Cash Flow
$2.3B
+22.6% ▲
5Y CAGR: +24.2%
Dividends Paid
$1.3B
-13.1% ▼
Buybacks
$341M
+0.0% ▲
Net Change in Cash
-$20M
+80.4% ▲
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $648M | $1.2B | $1.5B | $1.1B | $1.0B |
| Depreciation & Amort. | $774M | $965M | $1.0B | $1.0B | $957M |
| Stock-Based Comp. | $23M | $40M | $50M | $50M | $0 |
| Change in Working Capital | -$227M | -$191M | $194M | $74M | -$34M |
| Other Non-Cash Items | $755M | $261M | -$43M | $255M | $954M |
| Operating Cash Flow | $2.0B | $2.4B | $2.7B | $2.5B | $2.9B |
| — Investing Activities — | |||||
| Capital Expenditures | -$336M | -$455M | -$559M | -$619M | -$643M |
| Acquisitions (Net) | -$126M | -$163M | -$458M | -$252M | -$2.5B |
| Investment Purchases | -$94M | -$14M | $0 | $0 | -$332M |
| Investment Sales | $94M | $14M | $0 | $0 | $0 |
| Other Investing | $848M | $92M | $315M | -$633M | -$197M |
| Investing Cash Flow | $386M | -$526M | -$702M | -$1.5B | -$3.7B |
| — Financing Activities — | |||||
| Net Debt Issuance | -$912M | -$750M | -$667M | $489M | $2.9B |
| Stock Repurchased | -$178M | -$74M | $0 | $0 | -$341M |
| Dividends Paid | -$715M | -$782M | -$989M | -$1.1B | -$1.3B |
| Other Financing | -$179M | -$325M | -$320M | -$421M | -$531M |
| Financing Cash Flow | -$2.0B | -$1.9B | -$2.0B | -$1.1B | $724M |
| Net Change in Cash | $393M | -$52M | $49M | -$102M | -$20M |
| Cash End of Period | $453M | $401M | $450M | $348M | $328M |
| Free Cash Flow | $1.7B | $2.0B | $2.2B | $1.9B | $2.3B |