PAGP · Plains Gp Holdings LP - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · PAGP

1Y 3Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$44.26B	$50.07B	$48.71B	$57.34B	$42.08B	$23.29B
Cost of Revenue	$40.43B	$45.56B	$44.53B	$53.18B	$38.50B	$20.43B
Gross Profit	$3.83B	$4.51B	$4.18B	$4.17B	$3.57B	$2.86B
R&D	-	-	-	-	-	-
SG&A	$348.00M	$387.00M	$356.00M	$330.00M	$298.00M	$276.00M
Total Operating Expenses	$42.83B	$48.90B	$47.21B	$56.06B	$41.24B	$25.67B
D&A	$953.00M	$1.03B	$1.05B	$968.00M	$777.00M	$656.00M
Operating Income	$1.43B	$1.17B	$1.50B	$1.28B	$842.00M	($2.38B)
Interest Expense	$467.00M	$382.00M	$386.00M	$405.00M	$425.00M	$436.00M
Income Tax	$92.00M	$204.00M	$189.00M	$246.00M	$112.00M	($167.00M)
Net Income	$260.00M	$103.00M	$198.00M	$168.00M	$60.00M	($568.00M)
EPS - Basic	$1.31◇	$0.52◇	$1.01◇	$0.86◇	$0.31◇	-
EPS - Diluted	$1.30◇	$0.51◇	$1.00◇	$0.86◇	$0.31◇	-

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$329.00M	$349.00M	$453.00M	$404.00M	$452.00M	$25.00M
Accounts Receivable	$3.60B	$3.90B	$3.76B	$3.91B	$4.71B	$2.55B
Inventory	$211.00M	$439.00M	$548.00M	$729.00M	$783.00M	$647.00M
Accounts Payable	$3.46B	$3.88B	$3.85B	$4.04B	$4.81B	$2.42B
Current Assets	$4.70B	$4.78B	$4.92B	$5.36B	$6.14B	$3.67B
Total Assets	$31.28B	$27.76B	$28.60B	$29.21B	$29.98B	$25.95B
Current Liabilities	$4.90B	$4.92B	$5.00B	$5.89B	$6.23B	$4.25B
Long-term Debt	$1.10B	-	-	-	-	-
Total Liabilities	-	-	-	-	-	-
Stockholders' Equity	-	-	-	-	-	-
Retained Earnings	-	-	-	-	-	-

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$2.93B	$2.48B	$2.72B	$2.40B	$1.99B	$1.51B
Investing Cash Flow	($3.44B)	($875.00M)	($702.00M)	($526.00M)	$386.00M	($1.09B)
Financing Cash Flow	$474.00M	($1.70B)	($1.97B)	($1.93B)	($1.98B)	($430.00M)
CapEx	$643.00M	$619.00M	$559.00M	$455.00M	$336.00M	$738.00M
Free Cash Flow	$2.29B	$1.86B	$2.16B	$1.95B	$1.66B	$772.00M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	8.7%	9.0%	8.6%	7.3%	8.5%	12.3%
Operating margin	3.2%	2.3%	3.1%	2.2%	2.0%	-10.2%
EBITDA margin	5.4%	4.4%	5.2%	3.9%	3.8%	-7.4%
Net margin	0.6%	0.2%	0.4%	0.3%	0.1%	-2.4%
Free cash flow margin	5.2%	3.7%	4.4%	3.4%	3.9%	3.3%
FCF / Net income	8.80	18.11	10.92	11.60	27.58	-1.36
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	0.8%	0.8%	0.7%	0.6%	0.7%	1.2%
Effective tax rate	26.1%	66.4%	48.8%	59.4%	65.1%	-
Return on assets	0.8%	0.4%	0.7%	0.6%	0.2%	-2.2%
Return on equity	-	-	-	-	-	-
Return on invested capital	-	-	-	-	-	-
Liquidity
Current ratio	0.96	0.97	0.98	0.91	0.98	0.86
Quick ratio	0.92	0.88	0.87	0.79	0.86	0.71
Cash ratio	0.07	0.07	0.09	0.07	0.07	0.01
Leverage
Debt / Equity	-	-	-	-	-	-
Debt / Assets	0.04	-	-	-	-	-
Debt / EBITDA	0.46	-	-	-	-	-
Interest coverage	3.1x	3.1x	3.9x	3.2x	2.0x	-5.5x
Equity multiplier	-	-	-	-	-	-
Liabilities / Assets	-	-	-	-	-	-
Efficiency
Asset turnover	1.42	1.80	1.70	1.96	1.40	0.90
Inventory turnover	191.63	103.78	81.26	72.94	49.17	31.58
Days sales outstanding	30d	28d	28d	25d	41d	40d
Days inventory outstanding	2d	4d	4d	5d	7d	12d
Days payable outstanding	31d	31d	32d	28d	46d	43d
Cash conversion cycle	0d	1d	1d	2d	3d	8d
Valuation
P / E	14.7x	36.0x	15.9x	-	-	-
P / B	-	-	-	-	-	-
P / S	0.1x	0.1x	0.1x	-	-	-
EV / EBITDA	2.2x	1.8x	1.3x	-	-	-
Growth
Revenue growth (YoY)	-11.6%	2.8%	-15.1%	36.3%	80.7%	-30.8%
Revenue CAGR (3y)	-8.3%	6.0%	27.9%	19.4%	7.3%	-3.9%
Revenue CAGR (5y)	13.7%	8.3%	7.4%	16.9%	15.8%	0.1%
Gross profit growth (YoY)	-15.2%	7.9%	0.4%	16.6%	25.0%	-32.2%
Operating income growth (YoY)	21.8%	-21.9%	16.9%	52.5%	-	-
Net income growth (YoY)	152.4%	-48.0%	17.9%	180.0%	-	-
EPS growth (YoY)	154.9%	-49.0%	16.3%	177.4%	-	-
EPS CAGR (3y)	14.8%	18.1%	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	22.7%	-13.8%	11.0%	17.8%	114.4%	-41.5%
FCF CAGR (5y)	24.3%	7.2%	17.4%	-	-	-
Book value growth (YoY)	-	-	-	-	-	-

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$44.28B total

Crude Oil Segment$44.13B · 99.7%

Natural Gas Liquids Segment$151.00M · 0.3%

Product / service

$45.94B total

Product$42.50B · 92.5%

Service$1.76B · 3.8%

Transportation Revenue$1.33B · 2.9%

Terminalling Storage And Other Revenue$349.00M · 0.8%

Geographic

$44.26B total

US$39.76B · 89.8%

CA$4.50B · 10.2%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

5/9

Neutral

✓Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✗Current ratio improved
✓No share dilution
✗Gross margin improved
✗Asset turnover improved

Peer comparison

Same SIC group: Pipe Lines (No Natural Gas)

Company	Revenue (last FY)	Net margin	ROE
MPLX	$13.00B	37.8%	-
DKL	$1.01B	17.4%	-
DINO	$26.87B	2.2%	6.3%
GEL	$1.63B	-27.0%	-
MMP	$3.20B	32.4%	-

Comparing PLAINS GP HOLDINGS LP against the 5 most active filers in the same SIC group.

Dividends

$1.60/share trailing 12 months · +14.3% YoY

Ex-date	Per share
May 1, 2026	$0.4180
Jan 30, 2026	$0.4180
Oct 31, 2025	$0.3800
Jul 31, 2025	$0.3800
May 1, 2025	$0.3800
Jan 31, 2025	$0.3800
Oct 31, 2024	$0.3180
Jul 31, 2024	$0.3180
Apr 30, 2024	$0.3180
Jan 30, 2024	$0.3180
Oct 30, 2023	$0.2680
Jul 28, 2023	$0.2680
Apr 28, 2023	$0.2680
Jan 30, 2023	$0.2680
Oct 28, 2022	$0.2180
Jul 28, 2022	$0.2180
Apr 28, 2022	$0.2180
Jan 28, 2022	$0.1800
Oct 28, 2021	$0.1800
Jul 29, 2021	$0.1800
Apr 29, 2021	$0.1800
Jan 28, 2021	$0.1800
Oct 29, 2020	$0.1800
Jul 30, 2020	$0.1800

Cells marked with a small ◇ are sourced from SEC's bulk Financial Statement Data Sets, which can lose dimensional context (notably Revenue and Operating Income for issuers that report by segment). These cells will be replaced with authoritative values from the Company Facts API as the backfill completes.