Plains All American Pipeline (PAA) Financials

$17.17 +0.39 (+2.32%)

As of 04:00 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	903	726	856	2,216	2,171	-2,590	593	1,037	1,230	772
Consolidated Net Income / (Loss)	906	730	858	2,216	2,180	-2,580	648	1,228	1,502	1,113
Net Income / (Loss) Continuing Operations	906	730	858	2,216	2,180	-2,580	648	1,228	1,502	1,113
Total Pre-Tax Income	1,006	755	902	2,414	2,246	-2,599	721	1,417	1,623	1,280
Total Operating Income	1,262	994	1,153	2,277	1,988	-2,375	851	1,292	1,510	1,178
Total Gross Profit	3,426	2,949	3,238	4,262	4,217	2,859	3,574	4,166	4,181	4,513
Total Revenue	23,152	20,182	26,223	34,055	33,669	23,290	42,078	57,342	48,712	50,073
Operating Revenue	23,152	20,182	26,223	34,055	33,669	23,290	42,078	57,342	48,712	50,073
Total Cost of Revenue	19,726	17,233	22,985	29,793	29,452	20,431	38,504	53,176	44,531	45,560
Operating Cost of Revenue	19,726	17,233	22,985	29,793	29,452	20,431	38,504	53,176	44,531	45,560
Total Operating Expenses	2,164	1,955	2,085	1,985	2,229	5,234	2,723	2,874	2,671	3,335
Selling, General & Admin Expense	1,732	1,461	1,459	1,579	1,600	1,347	1,357	1,640	1,775	2,149
Depreciation Expense	432	514	517	520	601	653	774	965	1,048	1,026
Impairment Charge	-	-20	109	-114	28	3,234	592	269	-152	160
Total Other Income / (Expense), net	-256	-239	-251	137	258	-224	-130	125	113	102
Interest Expense	432	467	510	431	425	436	425	405	386	430
Interest & Investment Income	183	195	290	575	659	173	276	749	397	467
Other Income / (Expense), net	-7.00	33	-31	-7.00	24	39	19	-219	102	65
Income Tax Expense	100	25	44	198	66	-19	73	189	121	167
Net Income / (Loss) Attributable to Noncontrolling Interest	3.00	4.00	2.00	0.00	9.00	10	55	191	272	341
Basic Earnings per Share	-	-	$0.96	$2.77	$1,967,000,002.70	($3.83)	$0.55	$1.19	$1.40	$0.73
Weighted Average Basic Shares Outstanding	396M	466M	717M	726M	727M	728M	716M	701M	699M	702M
Diluted Earnings per Share	-	-	$0.95	$2,164,000,002.71	$2,119,000,002.65	($3.83)	$0.55	$1.19	$1.40	$0.73
Weighted Average Diluted Shares Outstanding	396M	466M	718M	799M	800M	728M	716M	701M	699M	702M
Weighted Average Basic & Diluted Shares Outstanding	396M	466M	718M	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	384	263	422	293	203	312	266	250	220	36
Consolidated Net Income / (Loss)	442	310	475	349	279	399	351	330	312	120
Net Income / (Loss) Continuing Operations	442	310	475	349	279	399	351	330	312	120
Total Pre-Tax Income	551	322	528	392	265	438	365	392	357	166
Total Operating Income	626	-38	473	378	234	425	370	374	347	87
Total Gross Profit	1,265	957	1,018	1,058	965	1,140	1,078	1,075	1,186	1,174
Total Revenue	14,336	12,953	12,341	11,602	12,071	12,698	11,995	12,933	12,743	12,402
Operating Revenue	14,336	12,953	12,341	11,602	12,071	12,698	11,995	12,933	12,743	12,402
Total Cost of Revenue	13,071	11,996	11,323	10,544	11,106	11,558	10,917	11,858	11,557	11,228
Operating Cost of Revenue	13,071	11,996	11,323	10,544	11,106	11,558	10,917	11,858	11,557	11,228
Total Operating Expenses	639	995	545	680	731	715	708	701	839	1,087
Selling, General & Admin Expense	401	426	443	418	464	450	454	443	581	671
Depreciation Expense	238	255	256	259	260	273	254	257	257	258
Impairment Charge	0.00	314	-154	3.00	7.00	-8.00	0.00	1.00	1.00	158
Total Other Income / (Expense), net	-75	360	55	14	31	13	-5.00	18	10	79
Interest Expense	99	100	98	95	97	96	95	111	113	111
Interest & Investment Income	106	442	89	89	128	91	95	106	97	169
Other Income / (Expense), net	-82	18	64	20	0.00	18	-5.00	23	26	21
Income Tax Expense	109	12	53	43	-14	39	14	62	45	46
Net Income / (Loss) Attributable to Noncontrolling Interest	58	47	53	56	76	87	85	80	92	84
Basic Earnings per Share	$0.48	$0.30	$0.52	$0.32	$0.20	$0.36	$0.29	$0.26	$0.22	($0.04)
Weighted Average Basic Shares Outstanding	698M	701M	698M	698M	700M	699M	701M	701M	702M	702M
Diluted Earnings per Share	$0.48	$0.30	$0.52	$0.32	$0.20	$0.36	$0.29	$0.26	$0.22	($0.04)
Weighted Average Diluted Shares Outstanding	698M	701M	698M	698M	700M	699M	701M	701M	702M	702M
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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-376	20	-10	29	16	-22	393	-52	49	-102
Net Cash From Operating Activities	1,358	733	2,499	2,608	2,504	1,514	1,996	2,408	2,727	2,490
Net Cash From Continuing Operating Activities	1,358	733	2,499	2,608	2,504	1,514	1,998	2,408	2,727	2,490
Net Income / (Loss) Continuing Operations	906	730	858	2,216	2,180	-2,580	648	1,228	1,502	1,113
Consolidated Net Income / (Loss)	906	730	858	2,216	2,180	-2,580	648	1,228	1,502	1,113
Depreciation Expense	432	514	517	520	601	653	774	965	1,048	1,026
Non-Cash Adjustments To Reconcile Net Income	106	28	167	-127	-219	3,669	780	301	7.00	305
Changes in Operating Assets and Liabilities, net	-86	-539	957	-1.00	-58	-228	-204	-86	170	46
Net Cash From Investing Activities	-2,530	-1,273	-1,570	-813	-1,765	-1,093	386	-526	-702	-1,504
Net Cash From Continuing Investing Activities	-2,530	-1,273	-1,570	-813	-1,765	-1,093	386	-526	-702	-1,504
Purchase of Property, Plant & Equipment	-2,079	-1,334	-1,024	-1,634	-1,181	-738	-336	-455	-559	-619
Acquisitions	-105	-282	-1,280	0.00	-50	-310	-32	-149	-425	-248
Purchase of Investments	-	-	-	-	-	-	-	0.00	0.00	-629
Sale of Property, Plant & Equipment	5.00	654	1,083	1,334	77	429	881	60	328	13
Other Investing Activities, net	-351	-311	-370	-513	-611	-474	-127	18	-46	-21
Net Cash From Financing Activities	800	556	-943	-1,757	-720	-435	-1,984	-1,931	-1,976	-1,077
Net Cash From Continuing Financing Activities	800	556	-943	-1,757	-720	-435	-1,984	-1,931	-1,976	-1,077
Repayment of Debt	-580	-1,419	-2,040	-147	-969	-122	-366	-803	-760	-843
Repurchase of Common Equity	-	-	-	0.00	0.00	-50	-178	-74	0.00	0.00
Payment of Dividends	-1,671	-1,627	-1,391	-1,032	-1,202	-863	-729	-1,080	-1,322	-1,570
Issuance of Debt	1,629	748	-	200	998	748	-545	0.00	0.00	1,279
Issuance of Common Equity	1,122	838	1,664	0.00	128	-	1.00	26	106	57
Other Net Changes in Cash	-	-	4.00	-9.00	-3.00	-8.00	-5.00	-3.00	0.00	-11
Cash Interest Paid	396	450	486	400	397	428	401	393	377	381
Cash Income Taxes Paid	50	98	50	21	136	111	76	112	69	269

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

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

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

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

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

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

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

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?

Plains All American Pipeline's net income were at $1.11 billion at the end of 2024, a 25.9% decrease from 2023, and a 22.8% increase since 2015.

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 4/14/2025 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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