PAA NASDAQ
Plains All American Pipeline, L.P.
1W: +3.6%
1M: +7.7%
3M: +7.9%
YTD: +48.2%
1Y: +61.1%
3Y: +100.5%
5Y: +227.7%
$26.41
-0.44 (-1.64%)
Weekly Expected Move ±2.4%
$25
$26
$27
$27
$28
Credit Risk of going bust: lower than 83% of companies Debt: 31.7% 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 $18.63B.
Distance to default 10.70 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $4.22B (short-term plus half of long-term), stock volatility 19.5%; 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 $18.63B.
Distance to default 10.70 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $4.22B (short-term plus half of long-term), stock volatility 19.5%; 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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Revenue by Segment (5-Year Trend)
Income Trends
Revenue
$44.3B
-11.6% ▼
5Y CAGR: +13.7%
Gross Profit
$2.7B
+55.6% ▲
5Y CAGR: +18.8%
Operating Income
$1.4B
+21.7% ▲
Net Income
$1.4B
+85.9% ▲
EPS (Diluted)
$1.66
+127.4% ▲
EBITDA
$2.9B
+6.3% ▲
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $42.1B | $57.3B | $48.7B | $50.1B | $44.3B |
| YoY Growth | +80.5% | +36.4% | -15.1% | +2.8% | -11.6% |
| Cost of Revenue | $40.3B | $55.5B | $46.0B | $48.4B | $41.6B |
| Gross Profit | $1.7B | $1.9B | $2.8B | $1.7B | $2.7B |
| Gross Margin | 4.1% | 3.3% | 5.7% | 3.4% | 6.0% |
| R&D Expenses | $0 | $0 | $0 | $0 | $0 |
| SG&A Expenses | $292M | $325M | $350M | $381M | $342M |
| Operating Expenses | $884M | $594M | $1.2B | $541M | $1.2B |
| Operating Income | $851M | $1.3B | $1.5B | $1.2B | $1.4B |
| Operating Margin | 2.0% | 2.3% | 3.1% | 2.4% | 3.2% |
| Interest Expense | $425M | $405M | $386M | $430M | $554M |
| Income Before Tax | $721M | $1.4B | $1.6B | $1.3B | $1.4B |
| Tax Expense | $73M | $189M | $121M | $167M | $15M |
| Net Income | $593M | $1.0B | $1.2B | $772M | $1.4B |
| Net Margin | 1.4% | 1.8% | 2.5% | 1.5% | 3.2% |
| EPS (Diluted) | $0.55 | $1.19 | $1.40 | $0.73 | $1.66 |
| EBITDA | $1.9B | $2.8B | $3.1B | $2.7B | $2.9B |
| Shares Outstanding | 716M | 701M | 699M | 702M | 704M |