Top Page
Plains All American
(NASDAQ:PAA)
Plains All American (PAA) vs. SPDR S&P 500 ETF (SPY)
Plains All American Business Overview & Revenue Model
Plains All American Earnings Call Summary
Plains All American Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.63B | 50.07B | 48.71B | 57.34B | 42.08B | 23.29B |
| Gross Profit | 1.80B | 1.72B | 2.76B | 1.89B | 1.74B | 1.13B |
| EBITDA | 2.88B | 2.74B | 3.06B | 2.79B | 1.92B | -1.51B |
| Net Income | 1.13B | 772.00M | 1.23B | 1.04B | 593.00M | -2.59B |
Balance Sheet | ||||||
| Total Assets | 28.10B | 26.56B | 27.36B | 27.89B | 28.61B | 24.50B |
| Cash, Cash Equivalents and Short-Term Investments | 5.58B | 348.00M | 450.00M | 401.00M | 449.00M | 22.00M |
| Total Debt | 188.00M | 7.93B | 8.03B | 8.82B | 9.64B | 10.61B |
| Total Liabilities | 15.11B | 13.47B | 13.62B | 14.57B | 15.80B | 14.76B |
| Stockholders Equity | 12.99B | 9.81B | 10.42B | 10.06B | 9.97B | 9.59B |
Cash Flow | ||||||
| Free Cash Flow | 2.41B | 1.87B | 2.17B | 1.95B | 1.66B | 776.00M |
| Operating Cash Flow | 2.88B | 2.49B | 2.73B | 2.41B | 2.00B | 1.51B |
| Investing Cash Flow | -2.10B | -1.50B | -702.00M | -526.00M | 386.00M | -1.09B |
| Financing Cash Flow | -243.00M | -1.08B | -1.98B | -1.93B | -1.98B | -435.00M |
Plains All American Technical Analysis
Plains All American Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $15.91B | 11.54 | 40.29% | 9.25% | 5.81% | -13.58% | |
75 Outperform | $11.35B | 28.30 | 9.04% | 2.91% | 20.39% | -3.85% | |
72 Outperform | $11.55B | 13.35 | 9.78% | 9.14% | -7.50% | 9.49% | |
72 Outperform | $7.04B | 11.91 | ― | 8.56% | 10.78% | 19.10% | |
69 Neutral | $13.50B | 15.55 | 8.10% | 6.24% | 38.38% | 3.35% | |
68 Neutral | $13.10B | 19.69 | 6.41% | 8.68% | -7.50% | 11.27% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
Plains All American Corporate Events
On October 31, 2025, Plains All American Pipeline, L.P. completed the acquisition of a 100% equity interest in EPIC Crude Holdings and its general partner, EPIC GP, through two transactions totaling approximately $2.9 billion. This strategic move allows Plains All American to fully control the EPIC Crude Oil Pipeline, which is a key infrastructure asset for transporting crude oil from the Permian and Eagle Ford basins to the Gulf Coast. The acquisition is expected to enhance Plains All American’s operational capabilities and market positioning by leveraging the EPIC Pipeline’s existing capacity and potential for expansion.
The most recent analyst rating on (PAA) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Plains All American stock, see the PAA Stock Forecast page.
Plains All American Pipeline, L.P. is a leading midstream energy company specializing in the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs) across North America. Known for its extensive pipeline network, Plains All American plays a crucial role in the energy infrastructure sector.
The recent earnings call for Plains All American Pipeline highlighted a robust strategic direction, underscored by significant acquisitions and divestitures aimed at enhancing cash flow stability and focusing on crude oil. Despite these positive long-term strategies, the company faces short-term financial challenges, including increased leverage and contract rate resets, which present temporary hurdles.
On November 5, 2025, Plains All American Pipeline reported its third-quarter 2025 results, highlighting a net income of $441 million and an adjusted EBITDA of $669 million. The company completed the acquisition of a 100% equity interest in EPIC Crude Holdings, which is expected to enhance synergy capture and cost savings, with plans to rename the system Cactus III. Plains also announced the pending divestiture of its Canadian NGL business, aiming to streamline operations and focus on becoming a leading crude oil midstream provider. These strategic moves are anticipated to provide financial stability and growth opportunities despite market volatility.
The most recent analyst rating on (PAA) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Plains All American stock, see the PAA Stock Forecast page.
On September 8, 2025, Plains All American Pipeline, L.P. and PAA Finance Corp. completed a public offering of $1.25 billion in debt securities, which includes $700 million in 4.700% Senior Notes due 2031 and $550 million in 5.600% Senior Notes due 2036. These senior unsecured notes are designed to rank equally with existing senior debt and are subject to certain covenants and default events, potentially impacting the company’s financial flexibility and stakeholder interests.
The most recent analyst rating on (PAA) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Plains All American stock, see the PAA Stock Forecast page.
On August 30, 2025, Plains All American Pipeline, L.P. announced that a subsidiary has entered into a definitive agreement to acquire a 55% non-operated interest in EPIC Crude Holdings, LP from Diamondback Energy, Inc. and Kinetik Holdings Inc. for approximately $1.57 billion, including $600 million of debt. The acquisition, expected to close in early 2026, aims to enhance Plains’ wellhead to water strategy by providing additional upstream and downstream connectivity, and is anticipated to be immediately accretive to distributable cash flow. This strategic move strengthens Plains’ position as a leading crude oil midstream provider, offering enhanced market access and customer flexibility, while maintaining a strong balance sheet and creating further return of capital opportunities for stakeholders.
The most recent analyst rating on (PAA) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on Plains All American stock, see the PAA Stock Forecast page.
On August 14, 2025, Plains All American‘s Board approved an extension of the expiration date for CEO Willie Chiang’s 2018 Promotional Grant to October 2030, aiming to incentivize his continued leadership and strategic initiatives. Additionally, special retention grants were awarded to key executives Jeremy Goebel and Chris Chandler to ensure their commitment to the company’s long-term goals, with vesting schedules extending beyond 2026.
The most recent analyst rating on (PAA) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Plains All American stock, see the PAA Stock Forecast page.
Plains All American Pipeline’s recent earnings call exuded a positive sentiment, driven by robust EBITDA performance and strategic business maneuvers. The company highlighted its strong financial results, strategic divestments, and successful acquisitions, although it acknowledged challenges such as lower NGL earnings and increased capital expenditures.
Plains All American Pipeline, L.P. is a leading midstream energy company engaged in the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs), primarily operating in the United States and Canada. The company is known for its extensive pipeline network and strategic focus on optimizing its crude oil asset base.
On August 8, 2025, Plains All American Pipeline reported solid financial results for the second quarter of 2025, with a net income of $210 million and adjusted EBITDA of $672 million. The company announced the divestiture of its Canadian NGL business, expected to close in the first quarter of 2026, which will enhance financial flexibility and streamline operations. Additionally, Plains acquired an additional 20% interest in the BridgeTex Pipeline, strengthening its position in the Permian Basin. These strategic moves are aimed at optimizing the company’s asset base and returning cash to unitholders.
The most recent analyst rating on (PAA) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Plains All American stock, see the PAA Stock Forecast page.