Plains All American Pipeline (PAA) Financials

$16.52 -0.08 (-0.48%)

Closing price 04:00 PM Eastern

Extended Trading

$16.61 +0.09 (+0.57%)

As of 07:58 PM Eastern

Annual Income Statements for Plains All American Pipeline

This table shows Plains All American Pipeline's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	772	1,230	1,037	593	-2,590	2,171	2,216	856	726	903
Consolidated Net Income / (Loss)	1,113	1,502	1,228	648	-2,580	2,180	2,216	858	730	906
Net Income / (Loss) Continuing Operations	1,113	1,502	1,228	648	-2,580	2,180	2,216	858	730	906
Total Pre-Tax Income	1,280	1,623	1,417	721	-2,599	2,246	2,414	902	755	1,006
Total Operating Income	1,178	1,510	1,292	851	-2,375	1,988	2,277	1,153	994	1,262
Total Gross Profit	4,513	4,181	4,166	3,574	2,859	4,217	4,262	3,238	2,949	3,426
Total Revenue	50,073	48,712	57,342	42,078	23,290	33,669	34,055	26,223	20,182	23,152
Operating Revenue	50,073	48,712	57,342	42,078	23,290	33,669	34,055	26,223	20,182	23,152
Total Cost of Revenue	45,560	44,531	53,176	38,504	20,431	29,452	29,793	22,985	17,233	19,726
Operating Cost of Revenue	45,560	44,531	53,176	38,504	20,431	29,452	29,793	22,985	17,233	19,726
Total Operating Expenses	3,335	2,671	2,874	2,723	5,234	2,229	1,985	2,085	1,955	2,164
Selling, General & Admin Expense	2,149	1,775	1,640	1,357	1,347	1,600	1,579	1,459	1,461	1,732
Depreciation Expense	1,026	1,048	965	774	653	601	520	517	514	432
Impairment Charge	160	-152	269	592	3,234	28	-114	109	-20	-
Total Other Income / (Expense), net	102	113	125	-130	-224	258	137	-251	-239	-256
Interest Expense	430	386	405	425	436	425	431	510	467	432
Interest & Investment Income	467	397	749	276	173	659	575	290	195	183
Other Income / (Expense), net	65	102	-219	19	39	24	-7.00	-31	33	-7.00
Income Tax Expense	167	121	189	73	-19	66	198	44	25	100
Net Income / (Loss) Attributable to Noncontrolling Interest	341	272	191	55	10	9.00	0.00	2.00	4.00	3.00
Basic Earnings per Share	$0.73	$1.40	$1.19	$0.55	($3.83)	$1,967,000,002.70	$2.77	$0.96	-	-
Weighted Average Basic Shares Outstanding	702M	699M	701M	716M	728M	727M	726M	717M	466M	396M
Diluted Earnings per Share	$0.73	$1.40	$1.19	$0.55	($3.83)	$2,119,000,002.65	$2,164,000,002.71	$0.95	-	-
Weighted Average Diluted Shares Outstanding	702M	699M	701M	716M	728M	800M	799M	718M	466M	396M
Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	0.00	718M	466M	396M

This table shows Plains All American Pipeline's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	36	220	250	266	312	203	293	422	263	384
Consolidated Net Income / (Loss)	120	312	330	351	399	279	349	475	310	442
Net Income / (Loss) Continuing Operations	120	312	330	351	399	279	349	475	310	442
Total Pre-Tax Income	166	357	392	365	438	265	392	528	322	551
Total Operating Income	87	347	374	370	425	234	378	473	-38	626
Total Gross Profit	1,174	1,186	1,075	1,078	1,140	965	1,058	1,018	957	1,265
Total Revenue	12,402	12,743	12,933	11,995	12,698	12,071	11,602	12,341	12,953	14,336
Operating Revenue	12,402	12,743	12,933	11,995	12,698	12,071	11,602	12,341	12,953	14,336
Total Cost of Revenue	11,228	11,557	11,858	10,917	11,558	11,106	10,544	11,323	11,996	13,071
Operating Cost of Revenue	11,228	11,557	11,858	10,917	11,558	11,106	10,544	11,323	11,996	13,071
Total Operating Expenses	1,087	839	701	708	715	731	680	545	995	639
Selling, General & Admin Expense	671	581	443	454	450	464	418	443	426	401
Depreciation Expense	258	257	257	254	273	260	259	256	255	238
Impairment Charge	158	1.00	1.00	0.00	-8.00	7.00	3.00	-154	314	0.00
Total Other Income / (Expense), net	79	10	18	-5.00	13	31	14	55	360	-75
Interest Expense	111	113	111	95	96	97	95	98	100	99
Interest & Investment Income	169	97	106	95	91	128	89	89	442	106
Other Income / (Expense), net	21	26	23	-5.00	18	0.00	20	64	18	-82
Income Tax Expense	46	45	62	14	39	-14	43	53	12	109
Net Income / (Loss) Attributable to Noncontrolling Interest	84	92	80	85	87	76	56	53	47	58
Basic Earnings per Share	($0.04)	$0.22	$0.26	$0.29	$0.36	$0.20	$0.32	$0.52	$0.30	$0.48
Weighted Average Basic Shares Outstanding	702M	702M	701M	701M	699M	700M	698M	698M	701M	698M
Diluted Earnings per Share	($0.04)	$0.22	$0.26	$0.29	$0.36	$0.20	$0.32	$0.52	$0.30	$0.48
Weighted Average Diluted Shares Outstanding	702M	702M	701M	701M	699M	700M	698M	698M	701M	698M
Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

This table details how cash moves in and out of Plains All American Pipeline's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-102	49	-52	393	-22	16	29	-10	20	-376
Net Cash From Operating Activities	2,490	2,727	2,408	1,996	1,514	2,504	2,608	2,499	733	1,358
Net Cash From Continuing Operating Activities	2,490	2,727	2,408	1,998	1,514	2,504	2,608	2,499	733	1,358
Net Income / (Loss) Continuing Operations	1,113	1,502	1,228	648	-2,580	2,180	2,216	858	730	906
Consolidated Net Income / (Loss)	1,113	1,502	1,228	648	-2,580	2,180	2,216	858	730	906
Depreciation Expense	1,026	1,048	965	774	653	601	520	517	514	432
Non-Cash Adjustments To Reconcile Net Income	305	7.00	301	780	3,669	-219	-127	167	28	106
Changes in Operating Assets and Liabilities, net	46	170	-86	-204	-228	-58	-1.00	957	-539	-86
Net Cash From Investing Activities	-1,504	-702	-526	386	-1,093	-1,765	-813	-1,570	-1,273	-2,530
Net Cash From Continuing Investing Activities	-1,504	-702	-526	386	-1,093	-1,765	-813	-1,570	-1,273	-2,530
Purchase of Property, Plant & Equipment	-619	-559	-455	-336	-738	-1,181	-1,634	-1,024	-1,334	-2,079
Acquisitions	-248	-425	-149	-32	-310	-50	0.00	-1,280	-282	-105
Purchase of Investments	-629	0.00	0.00	-	-	-	-	-	-	-
Sale of Property, Plant & Equipment	13	328	60	881	429	77	1,334	1,083	654	5.00
Other Investing Activities, net	-21	-46	18	-127	-474	-611	-513	-370	-311	-351
Net Cash From Financing Activities	-1,077	-1,976	-1,931	-1,984	-435	-720	-1,757	-943	556	800
Net Cash From Continuing Financing Activities	-1,077	-1,976	-1,931	-1,984	-435	-720	-1,757	-943	556	800
Repayment of Debt	-843	-760	-803	-366	-122	-969	-147	-2,040	-1,419	-580
Repurchase of Common Equity	0.00	0.00	-74	-178	-50	0.00	0.00	-	-	-
Payment of Dividends	-1,570	-1,322	-1,080	-729	-863	-1,202	-1,032	-1,391	-1,627	-1,671
Issuance of Debt	1,279	0.00	0.00	-545	748	998	200	-	748	1,629
Issuance of Common Equity	57	106	26	1.00	-	128	0.00	1,664	838	1,122
Other Net Changes in Cash	-11	0.00	-3.00	-5.00	-8.00	-3.00	-9.00	4.00	-	-
Cash Interest Paid	381	377	393	401	428	397	400	486	450	396
Cash Income Taxes Paid	269	69	112	76	111	136	21	50	98	50

This table details how cash moves in and out of Plains All American Pipeline's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-292	87	222	-119	190	-673	407	125	-222	356
Net Cash From Operating Activities	727	691	653	419	1,011	85	888	743	334	942
Net Cash From Continuing Operating Activities	727	691	653	419	1,011	85	888	743	334	942
Net Income / (Loss) Continuing Operations	120	312	330	351	399	279	349	475	310	442
Consolidated Net Income / (Loss)	120	312	330	351	399	279	349	475	310	442
Depreciation Expense	257	258	257	254	272	261	259	256	254	238
Non-Cash Adjustments To Reconcile Net Income	126	52	82	45	34	25	126	-178	23	147
Changes in Operating Assets and Liabilities, net	224	69	-16	-231	306	-480	154	190	-253	115
Net Cash From Investing Activities	-264	-822	-157	-261	-258	-438	-164	158	-235	-168
Net Cash From Continuing Investing Activities	-264	-822	-157	-261	-258	-443	-159	158	-235	-168
Purchase of Property, Plant & Equipment	-166	-157	-139	-157	-155	-137	-145	-122	-143	-122
Acquisitions	-104	-33	-20	-91	-136	-289	-	0.00	-81	-
Sale of Property, Plant & Equipment	5.00	2.00	3.00	3.00	42	2.00	-	284	2.00	1.00
Other Investing Activities, net	1.00	-5.00	-1.00	-16	-9.00	-19	-14	-4.00	-13	21
Net Cash From Financing Activities	-747	215	-272	-273	-567	-308	-325	-776	-323	-412
Net Cash From Continuing Financing Activities	-747	215	-272	-273	-567	-308	-325	-776	-323	-412
Repayment of Debt	-362	-32	-444	-5.00	-273	-26	-5.00	-456	-6.00	-60
Payment of Dividends	-402	-398	-383	-387	-347	-335	-320	-320	-317	-263
Issuance of Common Equity	17	16	12	12	53	53	-	0.00	-	-
Other Net Changes in Cash	-8.00	3.00	-2.00	-4.00	4.00	-12	8.00	0.00	2.00	-6.00
Cash Interest Paid	112	74	131	64	130	59	123	65	125	67
Cash Income Taxes Paid	33	43	107	86	41	20	26	-18	27	46

This table presents Plains All American Pipeline's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	26,562	27,355	27,892	28,609	24,497	28,677	25,511	25,351	24,210	22,288
Total Current Assets	4,802	4,913	5,355	6,137	3,665	4,612	3,533	4,000	4,272	2,969
Cash & Equivalents	348	450	401	449	22	45	66	37	47	27
Accounts Receivable	3,901	3,760	3,907	4,705	2,553	3,614	2,454	3,029	2,279	1,785
Inventories, net	439	548	729	783	647	604	640	713	1,343	916
Other Current Assets	114	155	318	200	405	312	373	221	603	241
Plant, Property, & Equipment, net	15,424	15,782	15,250	14,903	14,611	15,355	14,787	14,089	13,872	13,474
Plant, Property & Equipment, gross	21,300	21,143	20,020	19,257	18,585	18,948	17,866	16,862	16,220	15,654
Accumulated Depreciation	5,876	5,361	4,770	4,354	3,974	3,593	3,079	2,773	2,348	2,180
Total Noncurrent Assets	6,336	6,660	7,287	2,606	6,221	8,710	7,191	7,262	6,066	5,845
Long-Term Investments	2,811	2,820	3,084	-	3,764	3,683	2,702	2,756	2,343	2,027
Intangible Assets	1,677	1,875	2,145	1,960	805	-	-	-	-	-
Other Noncurrent Operating Assets	1,848	1,965	2,058	646	1,652	2,487	1,968	1,940	1,379	1,413
Total Liabilities & Shareholders' Equity	26,562	27,355	27,892	28,609	24,497	28,677	25,511	25,351	24,210	22,288
Total Liabilities	13,466	13,623	14,567	15,799	14,759	15,482	13,509	14,393	15,394	14,349
Total Current Liabilities	4,950	5,003	5,891	6,232	4,253	5,017	3,456	4,531	4,664	3,407
Short-Term Debt	408	446	1,159	822	831	504	66	737	1,715	999
Accounts Payable	3,881	3,844	4,044	4,810	2,437	3,686	2,704	3,323	2,588	2,038
Other Current Liabilities	661	713	688	600	985	827	686	471	361	370
Total Noncurrent Liabilities	8,516	8,620	8,676	9,567	10,506	10,465	10,053	9,862	10,730	10,942
Long-Term Debt	7,213	7,305	7,287	8,398	9,382	9,187	10,053	9,862	10,730	10,942
Other Noncurrent Operating Liabilities	1,303	1,315	1,389	1,169	1,124	1,278	-	-	-	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	13,096	13,732	13,325	12,810	9,738	13,195	12,002	10,958	8,816	7,939
Total Preferred & Common Equity	9,813	10,422	10,057	9,972	9,593	13,062	12,002	10,958	8,759	7,881
Total Common Equity	9,813	10,422	10,057	9,972	9,593	13,062	12,002	10,958	8,759	7,881
Common Stock	9,813	10,422	10,057	9,972	9,593	13,062	12,002	10,958	7,251	7,881
Noncontrolling Interest	3,283	3,310	3,268	-	145	133	-	-	57	58

This table presents Plains All American Pipeline's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	27,155	27,453	27,356	27,735	26,900	27,456	27,457
Total Current Assets	5,169	5,387	5,001	5,331	4,657	5,122	5,574
Cash & Equivalents	640	553	331	260	933	526	623
Accounts Receivable	3,952	4,208	4,040	4,253	3,220	3,968	4,101
Inventories, net	436	502	453	617	367	463	603
Other Current Assets	141	124	177	201	137	165	247
Plant, Property, & Equipment, net	15,651	15,616	15,671	15,589	15,221	15,195	14,565
Plant, Property & Equipment, gross	21,464	21,254	21,162	20,853	20,362	20,138	19,310
Accumulated Depreciation	5,813	5,638	5,491	5,264	5,141	4,943	4,745
Total Noncurrent Assets	6,335	6,450	6,684	6,815	7,022	7,139	7,318
Long-Term Investments	2,846	2,862	2,878	2,830	3,062	3,070	3,684
Intangible Assets	1,674	1,741	1,807	1,969	1,999	2,073	1,785
Other Noncurrent Operating Assets	1,815	1,847	1,999	2,016	1,961	1,996	1,849
Total Liabilities & Shareholders' Equity	27,155	27,453	27,356	27,735	26,900	27,456	27,457
Total Liabilities	13,623	13,875	13,710	14,184	13,298	13,973	14,714
Total Current Liabilities	5,136	5,406	5,144	5,606	4,652	5,366	5,333
Short-Term Debt	765	765	554	710	709	708	459
Accounts Payable	3,675	4,015	3,991	4,145	3,295	4,009	3,995
Other Current Liabilities	696	626	599	751	648	649	879
Total Noncurrent Liabilities	8,487	8,469	8,566	8,578	8,646	8,607	9,381
Long-Term Debt	7,212	7,211	7,308	7,296	7,288	7,288	7,986
Other Noncurrent Operating Liabilities	1,275	1,258	1,258	1,282	1,358	1,319	1,395
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	13,532	13,578	13,646	13,551	13,602	13,483	12,743
Total Preferred & Common Equity	10,235	10,276	10,339	10,285	10,379	10,243	9,944
Total Common Equity	10,235	10,276	10,339	10,285	10,379	10,243	9,944
Common Stock	10,235	10,276	10,339	10,285	10,379	10,243	9,944
Noncontrolling Interest	3,297	3,302	3,307	3,266	3,223	3,240	2,799

This table displays calculated financial ratios and metrics derived from Plains All American Pipeline's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.79%	-15.05%	36.28%	80.67%	-30.83%	-1.13%	29.87%	29.93%	-12.83%	-46.73%
EBITDA Growth	-14.70%	30.52%	23.97%	197.68%	-164.41%	-6.34%	70.23%	6.36%	-8.65%	-22.65%
EBIT Growth	-22.89%	50.23%	23.33%	137.24%	-216.10%	-11.37%	102.32%	9.25%	-18.17%	-30.16%
NOPAT Growth	-26.70%	24.81%	46.39%	146.01%	-186.16%	-7.69%	90.58%	14.12%	-15.44%	-29.03%
Net Income Growth	-25.90%	22.31%	89.51%	125.12%	-218.35%	-1.62%	158.28%	17.53%	-19.43%	-34.63%
EPS Growth	-47.86%	17.65%	116.36%	114.36%	-100.00%	-2.08%	227,789,473,869.47%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-8.69%	13.25%	20.64%	31.84%	-39.54%	-3.99%	4.36%	240.93%	-46.02%	-32.24%
Free Cash Flow Firm Growth	14.21%	368.17%	-300.24%	-79.43%	-38.40%	43.99%	24.71%	1,534.51%	13.89%	-117.87%
Invested Capital Growth	-3.60%	-0.40%	10.04%	3.04%	-15.66%	-1.20%	3.14%	-0.57%	5.86%	7.44%
Revenue Q/Q Growth	-0.59%	-0.52%	-12.40%	56.02%	-12.05%	1.11%	3.59%	6.73%	4.97%	-16.16%
EBITDA Q/Q Growth	-13.36%	22.07%	-22.54%	71.43%	-26.35%	-26.52%	63.64%	-0.91%	-5.58%	-9.20%
EBIT Q/Q Growth	-21.23%	40.30%	-36.77%	250.81%	-17.56%	-32.53%	88.54%	2.94%	-12.07%	-13.33%
NOPAT Q/Q Growth	-24.67%	42.35%	-31.04%	176.96%	-20.01%	-30.62%	77.28%	4.00%	-9.33%	-10.92%
Net Income Q/Q Growth	-20.04%	6.30%	-13.15%	410.24%	-14.82%	-27.09%	71.92%	8.06%	-14.22%	-13.47%
EPS Q/Q Growth	-35.40%	4.48%	0.00%	0.00%	-100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-10.24%	33.02%	-11.11%	23.29%	-23.61%	-19.02%	39.09%	24.76%	-6.51%	-30.29%
Free Cash Flow Firm Q/Q Growth	-6.90%	343.32%	17.97%	-85.74%	-46.09%	18.42%	-13.13%	2,124.69%	-33.13%	-121.14%
Invested Capital Q/Q Growth	-2.58%	-1.38%	8.32%	13.91%	-0.65%	-4.81%	1.16%	-4.66%	1.64%	2.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	9.01%	8.58%	7.27%	8.49%	12.28%	12.52%	12.52%	12.35%	14.61%	14.80%
EBITDA Margin	4.53%	5.46%	3.55%	3.91%	-7.23%	7.76%	8.19%	6.25%	7.64%	7.29%
Operating Margin	2.35%	3.10%	2.25%	2.02%	-10.20%	5.90%	6.69%	4.40%	4.93%	5.45%
EBIT Margin	2.48%	3.31%	1.87%	2.07%	-10.03%	5.98%	6.67%	4.28%	5.09%	5.42%
Profit (Net Income) Margin	2.22%	3.08%	2.14%	1.54%	-11.08%	6.47%	6.51%	3.27%	3.62%	3.91%
Tax Burden Percent	86.95%	92.54%	86.66%	89.88%	99.27%	97.06%	91.80%	95.12%	96.69%	90.06%
Interest Burden Percent	102.98%	100.68%	132.06%	82.87%	111.26%	111.63%	106.34%	80.39%	73.52%	80.16%
Effective Tax Rate	13.05%	7.46%	13.34%	10.12%	0.00%	2.94%	8.20%	4.88%	3.31%	9.94%
Return on Invested Capital (ROIC)	5.73%	7.66%	6.42%	4.67%	-9.43%	10.03%	10.97%	5.83%	5.24%	6.60%
ROIC Less NNEP Spread (ROIC-NNEP)	7.71%	9.87%	8.89%	2.38%	-24.33%	13.80%	12.63%	3.15%	2.92%	4.08%
Return on Net Nonoperating Assets (RNNOA)	2.57%	3.45%	2.98%	1.08%	-13.07%	7.27%	8.34%	2.85%	3.48%	4.63%
Return on Equity (ROE)	8.30%	11.10%	9.40%	5.75%	-22.50%	17.30%	19.30%	8.68%	8.71%	11.23%
Cash Return on Invested Capital (CROIC)	9.39%	8.06%	-3.14%	1.67%	7.56%	11.24%	7.88%	6.40%	-0.46%	-0.57%
Operating Return on Assets (OROA)	4.61%	5.84%	3.80%	3.28%	-8.79%	7.43%	8.93%	4.53%	4.42%	5.64%
Return on Assets (ROA)	4.13%	5.44%	4.35%	2.44%	-9.70%	8.05%	8.71%	3.46%	3.14%	4.07%
Return on Common Equity (ROCE)	6.26%	8.40%	7.20%	4.99%	-22.23%	17.21%	19.30%	8.65%	8.65%	11.15%
Return on Equity Simple (ROE_SIMPLE)	11.34%	14.41%	12.21%	6.50%	-26.89%	16.69%	18.46%	7.83%	8.33%	11.50%
Net Operating Profit after Tax (NOPAT)	1,024	1,397	1,120	765	-1,663	1,930	2,090	1,097	961	1,137
NOPAT Margin	2.05%	2.87%	1.95%	1.82%	-7.14%	5.73%	6.14%	4.18%	4.76%	4.91%
Net Nonoperating Expense Percent (NNEP)	-1.98%	-2.22%	-2.47%	2.29%	14.90%	-3.77%	-1.66%	2.67%	2.32%	2.52%
Return On Investment Capital (ROIC_SIMPLE)	4.94%	6.50%	5.14%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	90.99%	91.42%	92.73%	91.51%	87.72%	87.48%	87.49%	87.65%	85.39%	85.20%
SG&A Expenses to Revenue	4.29%	3.64%	2.86%	3.23%	5.78%	4.75%	4.64%	5.56%	7.24%	7.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	6.66%	5.48%	5.01%	6.47%	22.47%	6.62%	5.83%	7.95%	9.69%	9.35%
Earnings before Interest and Taxes (EBIT)	1,243	1,612	1,073	870	-2,336	2,012	2,270	1,122	1,027	1,255
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,269	2,660	2,038	1,644	-1,683	2,613	2,790	1,639	1,541	1,687
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.20	0.93	0.69	0.56	0.48	0.71	0.79	0.85	0.88	0.61
Price to Tangible Book Value (P/TBV)	1.45	1.13	0.88	0.70	0.52	0.89	1.00	1.11	1.20	0.87
Price to Revenue (P/Rev)	0.24	0.20	0.12	0.13	0.20	0.28	0.28	0.35	0.38	0.21
Price to Earnings (P/E)	15.29	7.87	6.68	9.42	0.00	4.29	4.29	10.84	10.60	5.28
Dividend Yield	7.57%	7.74%	8.39%	9.16%	14.30%	10.79%	9.17%	15.24%	14.22%	22.98%
Earnings Yield	6.54%	12.70%	14.96%	10.61%	0.00%	23.31%	23.31%	9.23%	9.43%	18.94%
Enterprise Value to Invested Capital (EV/IC)	1.11	0.96	0.83	0.86	0.69	0.80	0.87	0.91	0.94	0.83
Enterprise Value to Revenue (EV/Rev)	0.39	0.36	0.26	0.34	0.48	0.46	0.50	0.65	0.88	0.64
Enterprise Value to EBITDA (EV/EBITDA)	8.61	6.57	7.44	8.73	0.00	5.88	6.04	10.42	11.56	8.72
Enterprise Value to EBIT (EV/EBIT)	15.72	10.84	14.13	16.51	0.00	7.64	7.43	15.23	17.34	11.72
Enterprise Value to NOPAT (EV/NOPAT)	19.08	12.51	13.54	18.77	0.00	7.97	8.07	15.58	18.53	12.95
Enterprise Value to Operating Cash Flow (EV/OCF)	7.85	6.41	6.30	7.19	7.34	6.14	6.46	6.84	24.29	10.84
Enterprise Value to Free Cash Flow (EV/FCFF)	11.64	11.88	0.00	52.44	8.35	7.11	11.23	14.19	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.58	0.56	0.63	0.72	1.05	0.73	0.84	0.97	1.41	1.50
Long-Term Debt to Equity	0.55	0.53	0.55	0.66	0.96	0.70	0.84	0.90	1.22	1.38
Financial Leverage	0.33	0.35	0.34	0.45	0.54	0.53	0.66	0.90	1.19	1.13
Leverage Ratio	2.01	2.04	2.16	2.36	2.32	2.15	2.22	2.51	2.78	2.76
Compound Leverage Factor	2.07	2.06	2.86	1.95	2.58	2.40	2.36	2.01	2.04	2.21
Debt to Total Capital	36.79%	36.08%	38.79%	41.85%	51.19%	42.34%	45.74%	49.17%	58.53%	60.07%
Short-Term Debt to Total Capital	1.97%	2.08%	5.32%	3.73%	4.17%	2.20%	0.30%	3.42%	8.07%	5.03%
Long-Term Debt to Total Capital	34.82%	34.00%	33.47%	38.12%	47.03%	40.14%	45.45%	45.75%	50.47%	55.04%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	15.85%	15.41%	15.01%	0.00%	0.73%	0.58%	0.00%	0.00%	0.27%	0.29%
Common Equity to Total Capital	47.37%	48.51%	46.19%	45.27%	48.08%	57.07%	54.26%	50.83%	41.20%	39.64%
Debt to EBITDA	3.36	2.91	4.14	5.61	-6.07	3.71	3.63	6.47	8.08	7.08
Net Debt to EBITDA	1.97	1.68	2.43	5.34	-3.80	2.27	2.63	4.76	6.53	5.86
Long-Term Debt to EBITDA	3.18	2.75	3.58	5.11	-5.57	3.52	3.60	6.02	6.96	6.49
Debt to NOPAT	7.44	5.55	7.54	12.05	-6.14	5.02	4.84	9.66	12.95	10.51
Net Debt to NOPAT	4.36	3.21	4.43	11.47	-3.84	3.07	3.52	7.12	10.46	8.70
Long-Term Debt to NOPAT	7.04	5.23	6.51	10.98	-5.64	4.76	4.81	8.99	11.16	9.63
Altman Z-Score	2.56	2.40	2.45	1.78	0.79	1.75	2.05	1.54	1.25	1.40
Noncontrolling Interest Sharing Ratio	24.58%	24.31%	23.36%	13.23%	1.21%	0.53%	0.00%	0.29%	0.69%	0.72%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.97	0.98	0.91	0.98	0.86	0.92	1.02	0.88	0.92	0.87
Quick Ratio	0.86	0.84	0.73	0.83	0.61	0.73	0.73	0.68	0.50	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,679	1,470	-548	274	1,332	2,162	1,501	1,204	-84	-97
Operating Cash Flow to CapEx	410.89%	1,180.52%	609.62%	0.00%	489.97%	226.81%	869.33%	0.00%	107.79%	65.48%
Free Cash Flow to Firm to Interest Expense	3.91	3.81	-1.35	0.64	3.05	5.09	3.48	2.36	-0.18	-0.23
Operating Cash Flow to Interest Expense	5.79	7.06	5.95	4.70	3.47	5.89	6.05	4.90	1.57	3.14
Operating Cash Flow Less CapEx to Interest Expense	4.38	6.47	4.97	5.98	2.76	3.29	5.36	5.02	0.11	-1.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.86	1.76	2.03	1.58	0.88	1.24	1.34	1.06	0.87	1.04
Accounts Receivable Turnover	13.07	12.71	13.32	11.59	7.55	11.10	12.42	9.88	9.93	10.52
Inventory Turnover	92.32	69.74	70.34	53.85	32.66	47.35	44.04	22.36	15.26	21.83
Fixed Asset Turnover	3.21	3.14	3.80	2.85	1.55	2.23	2.36	1.88	1.48	1.80
Accounts Payable Turnover	11.80	11.29	12.01	10.63	6.67	9.22	9.89	7.78	7.45	7.85
Days Sales Outstanding (DSO)	27.92	28.72	27.41	31.48	48.32	32.89	29.38	36.94	36.75	34.68
Days Inventory Outstanding (DIO)	3.95	5.23	5.19	6.78	11.17	7.71	8.29	16.32	23.92	16.72
Days Payable Outstanding (DPO)	30.94	32.33	30.39	34.35	54.69	39.60	36.92	46.93	48.99	46.48
Cash Conversion Cycle (CCC)	0.93	1.63	2.21	3.91	4.81	1.00	0.75	6.33	11.68	4.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,558	18,213	18,286	16,618	16,127	19,121	19,353	18,764	18,871	17,826
Invested Capital Turnover	2.80	2.67	3.29	2.57	1.32	1.75	1.79	1.39	1.10	1.35
Increase / (Decrease) in Invested Capital	-655	-73	1,668	491	-2,994	-232	589	-107	1,045	1,234
Enterprise Value (EV)	19,546	17,476	15,161	14,360	11,119	15,371	16,858	17,084	17,807	14,714
Market Capitalization	11,801	9,685	6,932	5,589	4,585	9,312	9,507	9,278	7,695	4,769
Book Value per Share	$13.95	$14.87	$14.40	$14.02	$13.17	$17.94	$16.53	$15.11	$21.21	$19.82
Tangible Book Value per Share	$11.56	$12.19	$11.33	$11.27	$12.06	$14.45	$13.05	$11.57	$15.53	$13.77
Total Capital	20,717	21,483	21,771	22,030	19,951	22,886	22,121	21,557	21,261	19,880
Total Debt	7,621	7,751	8,446	9,220	10,213	9,691	10,119	10,599	12,445	11,941
Total Long-Term Debt	7,213	7,305	7,287	8,398	9,382	9,187	10,053	9,862	10,730	10,942
Net Debt	4,462	4,481	4,961	8,771	6,389	5,926	7,351	7,806	10,055	9,887
Capital Expenditures (CapEx)	606	231	395	-545	309	1,104	300	-59	680	2,074
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-88	-94	222	278	183	17	77	169	1,276	534
Debt-free Net Working Capital (DFNWC)	260	356	623	727	243	99	143	206	1,323	561
Net Working Capital (NWC)	-148	-90	-536	-95	-588	-405	77	-531	-392	-438
Net Nonoperating Expense (NNE)	-89	-105	-108	117	918	-250	-126	239	231	231
Net Nonoperating Obligations (NNO)	4,462	4,481	4,961	3,808	6,389	5,926	7,351	7,806	10,055	9,887
Total Depreciation and Amortization (D&A)	1,026	1,048	965	774	653	601	520	517	514	432
Debt-free, Cash-free Net Working Capital to Revenue	-0.18%	-0.19%	0.39%	0.66%	0.79%	0.05%	0.23%	0.64%	6.32%	2.31%
Debt-free Net Working Capital to Revenue	0.52%	0.73%	1.09%	1.73%	1.04%	0.29%	0.42%	0.79%	6.56%	2.42%
Net Working Capital to Revenue	-0.30%	-0.18%	-0.93%	-0.23%	-2.52%	-1.20%	0.23%	-2.02%	-1.94%	-1.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.73	$1.40	$1.19	$393,000,000.55	($3.83)	$2.70	$0.00	$0.00	$0.43	$0.78
Adjusted Weighted Average Basic Shares Outstanding	702M	699M	701M	716M	728M	727M	726.58M	725.21M	675.10M	394M
Adjusted Diluted Earnings per Share	$0.73	$1.40	$1.19	$393,000,000.55	($2,790,000,003.83)	$2.65	$0.00	$0.00	$0.43	$0.77
Adjusted Weighted Average Diluted Shares Outstanding	702M	699M	701M	716M	728M	800M	726.58M	725.21M	675.10M	396M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	728.05M	726.58M	725.21M	675.10M	394M
Normalized Net Operating Profit after Tax (NOPAT)	1,163	1,257	1,353	1,297	601	1,957	1,986	1,200	942	1,137
Normalized NOPAT Margin	2.32%	2.58%	2.36%	3.08%	2.58%	5.81%	5.83%	4.58%	4.67%	4.91%
Pre Tax Income Margin	2.56%	3.33%	2.47%	1.71%	-11.16%	6.67%	7.09%	3.44%	3.74%	4.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.89	4.18	2.65	2.05	-5.36	4.73	5.27	2.20	2.20	2.91
NOPAT to Interest Expense	2.38	3.62	2.76	1.80	-3.81	4.54	4.85	2.15	2.06	2.63
EBIT Less CapEx to Interest Expense	1.48	3.58	1.67	3.33	-6.07	2.14	4.57	2.32	0.74	-1.90
NOPAT Less CapEx to Interest Expense	0.97	3.02	1.79	3.08	-4.52	1.94	4.15	2.27	0.60	-2.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	141.06%	88.02%	87.95%	112.50%	-33.45%	55.14%	46.57%	162.12%	222.88%	184.44%
Augmented Payout Ratio	141.06%	88.02%	93.97%	139.97%	-35.39%	55.14%	46.57%	162.12%	222.88%	184.44%

This table displays calculated financial ratios and metrics derived from Plains All American Pipeline's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.33%	5.57%	11.47%	-2.80%	-1.97%	-15.80%	-29.08%	-9.88%	-38.53%	33.04%
EBITDA Growth	-48.95%	27.47%	-0.46%	-21.94%	205.56%	-36.70%	22.57%	63.17%	-71.71%	506.20%
EBIT Growth	-75.62%	59.40%	-0.25%	-32.03%	2,315.00%	-56.99%	35.84%	109.77%	-103.31%	1,233.33%
NOPAT Growth	-83.76%	23.10%	-6.44%	-16.38%	1,158.27%	-50.94%	-2.79%	58.78%	-107.20%	1,987.83%
Net Income Growth	-69.92%	11.83%	-5.44%	-26.11%	28.71%	-36.88%	39.04%	111.11%	-37.50%	903.64%
EPS Growth	-111.11%	10.00%	-18.75%	-44.23%	20.00%	-58.33%	45.45%	173.68%	0.00%	420.00%
Operating Cash Flow Growth	-28.09%	712.94%	-26.46%	-43.61%	202.69%	-90.98%	12.12%	118.53%	-47.40%	181.19%
Free Cash Flow Firm Growth	56.01%	155.78%	-899.52%	-116.65%	127.00%	25.15%	102.22%	121.17%	-10,204.18%	-210.66%
Invested Capital Growth	-3.60%	-2.40%	3.04%	2.33%	-0.40%	9.40%	1.79%	0.36%	10.04%	15.71%
Revenue Q/Q Growth	-2.68%	-1.47%	7.82%	-5.54%	5.19%	4.04%	-5.99%	-4.72%	-9.65%	-12.37%
EBITDA Q/Q Growth	-42.16%	-3.52%	5.65%	-13.43%	44.44%	-24.66%	-17.15%	238.89%	-70.08%	45.90%
EBIT Q/Q Growth	-71.05%	-6.05%	8.77%	-17.61%	89.32%	-41.21%	-25.88%	2,785.00%	-103.68%	85.67%
NOPAT Q/Q Growth	-79.26%	-3.68%	-11.51%	-8.10%	57.15%	-26.79%	-20.91%	1,263.14%	-107.29%	45.06%
Net Income Q/Q Growth	-61.54%	-5.45%	-5.98%	-12.03%	43.01%	-20.06%	-26.53%	53.23%	-29.86%	76.10%
EPS Q/Q Growth	-118.18%	-15.38%	-10.34%	-19.44%	80.00%	-37.50%	-38.46%	73.33%	-37.50%	118.18%
Operating Cash Flow Q/Q Growth	5.21%	5.82%	55.85%	-58.56%	1,089.41%	-90.43%	19.52%	122.46%	-64.54%	18.94%
Free Cash Flow Firm Q/Q Growth	-3.93%	439.43%	-265.75%	-113.08%	134.35%	-4,965.09%	-92.38%	121.21%	4.76%	-44.36%
Invested Capital Q/Q Growth	-2.58%	-0.64%	-0.87%	0.47%	-1.38%	4.90%	-1.56%	-2.20%	8.32%	-2.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	9.47%	9.31%	8.31%	8.99%	8.98%	7.99%	9.12%	8.25%	7.39%	8.82%
EBITDA Margin	2.94%	4.95%	5.06%	5.16%	5.63%	4.10%	5.66%	6.43%	1.81%	5.45%
Operating Margin	0.70%	2.72%	2.89%	3.08%	3.35%	1.94%	3.26%	3.83%	-0.29%	4.37%
EBIT Margin	0.87%	2.93%	3.07%	3.04%	3.49%	1.94%	3.43%	4.35%	-0.15%	3.79%
Profit (Net Income) Margin	0.97%	2.45%	2.55%	2.93%	3.14%	2.31%	3.01%	3.85%	2.39%	3.08%
Tax Burden Percent	72.29%	87.40%	84.18%	96.16%	91.10%	105.28%	89.03%	89.96%	96.27%	80.22%
Interest Burden Percent	153.70%	95.71%	98.74%	100.00%	98.87%	113.25%	98.49%	98.32%	-1,610.00%	101.29%
Effective Tax Rate	27.71%	12.61%	15.82%	3.84%	8.90%	-5.28%	10.97%	10.04%	3.73%	19.78%
Return on Invested Capital (ROIC)	1.42%	6.57%	6.77%	7.93%	8.14%	5.65%	8.52%	10.81%	-0.93%	14.57%
ROIC Less NNEP Spread (ROIC-NNEP)	2.70%	6.76%	7.12%	7.82%	8.39%	6.38%	8.81%	11.87%	6.98%	13.30%
Return on Net Nonoperating Assets (RNNOA)	0.90%	2.35%	2.24%	2.61%	2.93%	2.20%	2.87%	4.22%	2.34%	5.69%
Return on Equity (ROE)	2.32%	8.92%	9.01%	10.54%	11.07%	7.85%	11.39%	15.04%	1.41%	20.26%
Cash Return on Invested Capital (CROIC)	9.39%	9.89%	4.31%	5.04%	8.06%	-3.42%	5.48%	6.81%	-3.14%	-4.25%
Operating Return on Assets (OROA)	1.62%	5.37%	5.61%	5.37%	6.15%	3.44%	6.30%	8.39%	-0.31%	9.62%
Return on Assets (ROA)	1.80%	4.49%	4.67%	5.16%	5.54%	4.10%	5.53%	7.42%	4.86%	7.81%
Return on Common Equity (ROCE)	1.75%	6.76%	6.85%	8.00%	8.38%	6.04%	8.79%	11.58%	1.08%	17.56%
Return on Equity Simple (ROE_SIMPLE)	0.00%	13.60%	13.23%	13.33%	0.00%	13.74%	15.18%	14.43%	0.00%	14.22%
Net Operating Profit after Tax (NOPAT)	63	303	315	356	387	246	337	426	-37	502
NOPAT Margin	0.51%	2.38%	2.43%	2.97%	3.05%	2.04%	2.90%	3.45%	-0.28%	3.50%
Net Nonoperating Expense Percent (NNEP)	-1.28%	-0.19%	-0.35%	0.11%	-0.25%	-0.72%	-0.29%	-1.06%	-7.90%	1.28%
Return On Investment Capital (ROIC_SIMPLE)	0.30%	-	-	-	1.80%	-	-	-	-0.17%	-
Cost of Revenue to Revenue	90.53%	90.69%	91.69%	91.01%	91.02%	92.01%	90.88%	91.75%	92.61%	91.18%
SG&A Expenses to Revenue	5.41%	4.56%	3.43%	3.78%	3.54%	3.84%	3.60%	3.59%	3.29%	2.80%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.76%	6.58%	5.42%	5.90%	5.63%	6.06%	5.86%	4.42%	7.68%	4.46%
Earnings before Interest and Taxes (EBIT)	108	373	397	365	443	234	398	537	-20	544
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	365	631	654	619	715	495	657	793	234	782
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.20	1.17	1.20	1.17	0.93	0.95	0.87	0.77	0.69	0.66
Price to Tangible Book Value (P/TBV)	1.45	1.40	1.44	1.42	1.13	1.17	1.07	0.97	0.88	0.80
Price to Revenue (P/Rev)	0.24	0.24	0.25	0.25	0.20	0.20	0.18	0.14	0.12	0.10
Price to Earnings (P/E)	15.29	11.40	11.94	11.26	7.87	8.27	6.60	6.23	6.68	5.35
Dividend Yield	7.57%	7.16%	6.66%	6.49%	7.74%	7.30%	7.53%	8.11%	8.39%	8.48%
Earnings Yield	6.54%	8.77%	8.38%	8.88%	12.70%	12.10%	15.14%	16.05%	14.96%	18.71%
Enterprise Value to Invested Capital (EV/IC)	1.11	1.10	1.11	1.10	0.96	0.97	0.92	0.87	0.83	0.80
Enterprise Value to Revenue (EV/Rev)	0.39	0.39	0.41	0.41	0.36	0.37	0.32	0.28	0.26	0.21
Enterprise Value to EBITDA (EV/EBITDA)	8.61	7.54	8.12	8.07	6.57	8.23	6.58	6.64	7.44	5.12
Enterprise Value to EBIT (EV/EBIT)	15.72	12.51	14.02	13.93	10.84	15.62	11.12	11.50	14.13	7.94
Enterprise Value to NOPAT (EV/NOPAT)	19.08	14.51	15.45	15.10	12.51	18.28	12.82	12.16	13.54	8.30
Enterprise Value to Operating Cash Flow (EV/OCF)	7.85	7.11	9.30	8.35	6.41	8.75	5.58	5.54	6.30	4.98
Enterprise Value to Free Cash Flow (EV/FCFF)	11.64	10.94	26.16	21.99	11.88	0.00	16.97	12.80	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.58	0.59	0.59	0.58	0.56	0.59	0.59	0.59	0.63	0.66
Long-Term Debt to Equity	0.55	0.53	0.53	0.54	0.53	0.54	0.54	0.54	0.55	0.63
Financial Leverage	0.33	0.35	0.32	0.33	0.35	0.34	0.33	0.36	0.34	0.43
Leverage Ratio	2.01	2.03	2.00	2.02	2.04	2.10	2.12	2.21	2.16	2.34
Compound Leverage Factor	3.09	1.94	1.97	2.02	2.02	2.38	2.09	2.17	-34.81	2.37
Debt to Total Capital	36.79%	37.09%	37.00%	36.55%	36.08%	37.14%	37.02%	37.23%	38.79%	39.86%
Short-Term Debt to Total Capital	1.97%	3.56%	3.55%	2.58%	2.08%	3.29%	3.28%	3.30%	5.32%	2.17%
Long-Term Debt to Total Capital	34.82%	33.53%	33.46%	33.98%	34.00%	33.85%	33.74%	33.93%	33.47%	37.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	15.85%	15.33%	15.32%	15.38%	15.41%	15.15%	14.92%	15.08%	15.01%	13.21%
Common Equity to Total Capital	47.37%	47.58%	47.68%	48.07%	48.51%	47.71%	48.05%	47.69%	46.19%	46.93%
Debt to EBITDA	3.36	3.05	3.21	3.16	2.91	3.67	3.24	3.41	4.14	3.21
Net Debt to EBITDA	1.97	1.71	1.84	1.87	1.68	2.26	1.62	1.88	2.43	1.57
Long-Term Debt to EBITDA	3.18	2.75	2.90	2.94	2.75	3.35	2.96	3.11	3.58	3.04
Debt to NOPAT	7.44	5.87	6.11	5.92	5.55	8.16	6.32	6.24	7.54	5.20
Net Debt to NOPAT	4.36	3.30	3.49	3.50	3.21	5.01	3.16	3.44	4.43	2.55
Long-Term Debt to NOPAT	7.04	5.30	5.52	5.50	5.23	7.43	5.76	5.69	6.51	4.92
Altman Z-Score	2.42	2.43	2.39	2.34	2.26	2.19	2.36	2.43	2.32	2.73
Noncontrolling Interest Sharing Ratio	24.58%	24.23%	24.01%	24.13%	24.31%	23.07%	22.84%	22.98%	23.36%	13.36%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.97	1.01	1.00	0.97	0.98	0.95	1.00	0.95	0.91	1.05
Quick Ratio	0.86	0.89	0.88	0.85	0.84	0.81	0.89	0.84	0.73	0.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	718	747	-220	-60	460	-1,340	28	362	-1,705	-1,790
Operating Cash Flow to CapEx	451.55%	445.81%	480.15%	272.08%	894.69%	62.96%	612.41%	0.00%	236.88%	778.51%
Free Cash Flow to Firm to Interest Expense	6.47	6.61	-1.98	-0.63	4.79	-13.81	0.29	3.69	-17.05	-18.08
Operating Cash Flow to Interest Expense	6.55	6.12	5.88	4.41	10.53	0.88	9.35	7.58	3.34	9.52
Operating Cash Flow Less CapEx to Interest Expense	5.10	4.74	4.66	2.79	9.35	-0.52	7.82	9.23	1.93	8.29
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.86	1.84	1.83	1.76	1.76	1.77	1.84	1.93	2.03	2.53
Accounts Receivable Turnover	13.07	12.28	13.38	12.08	12.71	11.72	11.64	10.08	13.32	16.64
Inventory Turnover	92.32	87.16	104.58	96.34	69.74	73.72	104.88	104.47	70.34	82.46
Fixed Asset Turnover	3.21	3.22	3.22	3.13	3.14	3.25	3.43	3.73	3.80	4.74
Accounts Payable Turnover	11.80	11.74	12.43	11.03	11.29	11.05	10.77	9.51	12.01	13.46
Days Sales Outstanding (DSO)	27.92	29.73	27.28	30.22	28.72	31.14	31.35	36.19	27.41	21.93
Days Inventory Outstanding (DIO)	3.95	4.19	3.49	3.79	5.23	4.95	3.48	3.49	5.19	4.43
Days Payable Outstanding (DPO)	30.94	31.10	29.36	33.09	32.33	33.04	33.89	38.38	30.39	27.12
Cash Conversion Cycle (CCC)	0.93	2.82	1.41	0.92	1.63	3.05	0.94	1.31	2.21	-0.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,558	18,023	18,139	18,299	18,213	18,467	17,604	17,883	18,286	16,881
Invested Capital Turnover	2.80	2.76	2.78	2.67	2.67	2.77	2.94	3.14	3.29	4.16
Increase / (Decrease) in Invested Capital	-655	-444	535	416	-73	1,586	309	64	1,668	2,292
Enterprise Value (EV)	19,546	19,735	20,171	20,054	17,476	17,944	16,218	15,567	15,161	13,480
Market Capitalization	11,801	11,947	12,308	12,094	9,685	9,762	8,993	7,927	6,932	6,543
Book Value per Share	$13.95	$14.60	$14.66	$14.75	$14.87	$14.73	$14.86	$14.67	$14.40	$14.25
Tangible Book Value per Share	$11.56	$12.21	$12.17	$12.17	$12.19	$11.91	$12.00	$11.70	$11.33	$11.69
Total Capital	20,717	21,509	21,554	21,508	21,483	21,557	21,599	21,479	21,771	21,188
Total Debt	7,621	7,977	7,976	7,862	7,751	8,006	7,997	7,996	8,446	8,445
Total Long-Term Debt	7,213	7,212	7,211	7,308	7,305	7,296	7,288	7,288	7,287	7,986
Net Debt	4,462	4,491	4,561	4,653	4,481	4,916	4,002	4,400	4,961	4,138
Capital Expenditures (CapEx)	161	155	136	154	113	135	145	-162	141	121
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-88	158	193	80	-94	175	-219	-62	222	77
Debt-free Net Working Capital (DFNWC)	260	798	746	411	356	435	714	464	623	700
Net Working Capital (NWC)	-148	33	-19	-143	-90	-275	5.00	-244	-536	241
Net Nonoperating Expense (NNE)	-57	-8.74	-15	4.81	-12	-33	-12	-49	-347	60
Net Nonoperating Obligations (NNO)	4,462	4,491	4,561	4,653	4,481	4,916	4,002	4,400	4,961	4,138
Total Depreciation and Amortization (D&A)	257	258	257	254	272	261	259	256	254	238
Debt-free, Cash-free Net Working Capital to Revenue	-0.18%	0.31%	0.39%	0.17%	-0.19%	0.36%	-0.43%	-0.11%	0.39%	0.12%
Debt-free Net Working Capital to Revenue	0.52%	1.58%	1.50%	0.85%	0.73%	0.89%	1.39%	0.83%	1.09%	1.07%
Net Working Capital to Revenue	-0.30%	0.07%	-0.04%	-0.30%	-0.18%	-0.56%	0.01%	-0.44%	-0.93%	0.37%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.04)	$0.22	$0.26	$0.29	$0.36	$0.20	$0.32	$0.52	$0.30	$333,000,000.48
Adjusted Weighted Average Basic Shares Outstanding	702M	702M	701M	701M	699M	700M	698M	698M	701M	698M
Adjusted Diluted Earnings per Share	($0.04)	$0.22	$0.26	$0.29	$0.36	$0.20	$0.32	$0.52	$0.30	$333,000,000.48
Adjusted Weighted Average Diluted Shares Outstanding	702M	702M	701M	701M	699M	700M	698M	698M	701M	698M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	177	304	316	356	380	169	339	287	266	502
Normalized NOPAT Margin	1.43%	2.39%	2.44%	2.97%	2.99%	1.40%	2.92%	2.33%	2.05%	3.50%
Pre Tax Income Margin	1.34%	2.80%	3.03%	3.04%	3.45%	2.20%	3.38%	4.28%	2.49%	3.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.97	3.30	3.58	3.84	4.61	2.41	4.19	5.48	-0.20	5.49
NOPAT to Interest Expense	0.57	2.68	2.84	3.75	4.03	2.54	3.54	4.34	-0.37	5.07
EBIT Less CapEx to Interest Expense	-0.48	1.93	2.35	2.22	3.44	1.02	2.66	7.13	-1.61	4.27
NOPAT Less CapEx to Interest Expense	-0.88	1.31	1.61	2.12	2.86	1.15	2.02	6.00	-1.78	3.85
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	141.06%	108.84%	106.84%	100.80%	88.02%	91.44%	77.41%	79.63%	87.95%	67.61%
Augmented Payout Ratio	141.06%	108.84%	106.84%	100.80%	88.02%	91.44%	77.41%	79.63%	93.97%	77.16%

Frequently Asked Questions About Plains All American Pipeline's Financials

When does Plains All American Pipeline's fiscal year end?

According to the most recent income statement we have on file, Plains All American Pipeline's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Plains All American Pipeline's net income changed over the last 9 years?

In the past 9 years, Plains All American Pipeline's net income has ranged from -$2.58 billion in 2020 to $2.22 billion in 2018, and is currently $1.11 billion as of their latest financial filing in 2024. See where experts think Plains All American Pipeline is headed by visiting Plains All American Pipeline's forecast page.

What is Plains All American Pipeline's operating income?

Plains All American Pipeline's total operating income in 2024 was $1.18 billion, based on the following breakdown:

Total Gross Profit: $4.51 billion
Total Operating Expenses: $3.34 billion

How has Plains All American Pipeline revenue changed over the last 9 years?

Over the last 9 years, Plains All American Pipeline's total revenue changed from $23.15 billion in 2015 to $50.07 billion in 2024, a change of 116.3%.

How much debt does Plains All American Pipeline have?

Plains All American Pipeline's total liabilities were at $13.47 billion at the end of 2024, a 1.2% decrease from 2023, and a 6.2% decrease since 2015.

How much cash does Plains All American Pipeline have?

In the past 9 years, Plains All American Pipeline's cash and equivalents has ranged from $22 million in 2020 to $450 million in 2023, and is currently $348 million as of their latest financial filing in 2024.

How has Plains All American Pipeline's book value per share changed over the last 9 years?

Over the last 9 years, Plains All American Pipeline's book value per share changed from 19.82 in 2015 to 13.95 in 2024, a change of -29.6%.

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This page (NYSE:PAA) was last updated on 5/30/2025 by MarketBeat.com Staff

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Plains All American Pipeline (PAA) Financials

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Plains All American Pipeline (PAA) Financials

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