Plains GP (PAGP) Financials

$19.33 -0.01 (-0.05%)

As of 12:25 PM Eastern

Annual Income Statements for Plains GP

This table shows Plains GP'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	118	94	-731	334	331	-568	60	168	198	103
Consolidated Net Income / (Loss)	809	660	-41	2,107	2,062	-2,440	600	1,163	1,425	1,070
Net Income / (Loss) Continuing Operations	809	660	-41	2,107	2,062	-2,440	600	1,163	1,425	1,070
Total Pre-Tax Income	991	738	896	2,409	2,238	-2,607	712	1,409	1,614	1,274
Total Operating Income	1,258	990	1,147	2,272	1,980	-2,383	842	1,284	1,501	1,172
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	2,168	1,959	2,091	1,990	2,237	5,242	2,732	2,882	2,680	3,341
Selling, General & Admin Expense	1,735	1,464	1,463	1,583	1,605	1,352	1,363	1,645	1,781	2,155
Depreciation Expense	433	515	519	521	604	656	777	968	1,051	1,026
Impairment Charge	-	-20	109	-114	28	3,234	592	269	-152	160
Total Other Income / (Expense), net	-267	-252	-251	137	258	-224	-130	125	113	102
Interest Expense	443	480	510	431	425	436	425	405	386	382
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	17
Income Tax Expense	182	78	937	302	176	-167	112	246	189	204
Net Income / (Loss) Attributable to Noncontrolling Interest	691	566	690	1,773	1,731	-1,872	540	995	1,227	967
Basic Earnings per Share	-	-	($5.03)	$2.12	$1.97	($3.06)	$0.31	$0.86	$1.01	$0.52
Weighted Average Basic Shares Outstanding	83M	99M	145M	158M	168M	186M	194M	194M	195M	197M
Diluted Earnings per Share	-	-	($5.03)	$2.11	$1.96	($3.07)	$0.31	$0.86	$1.01	$0.52
Weighted Average Diluted Shares Outstanding	83M	99M	145M	282M	170M	246M	194M	194M	195M	197M
Weighted Average Basic & Diluted Shares Outstanding	83M	99M	145M	158M	182.14M	194.10M	194.19M	194.41M	197.12M	197.74M

This table shows Plains GP'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	71	44	69	48	29	52	42	39	33	-11
Consolidated Net Income / (Loss)	420	295	443	333	268	381	336	316	301	117
Net Income / (Loss) Continuing Operations	420	295	443	333	268	381	336	316	301	117
Total Pre-Tax Income	549	321	526	389	263	436	364	390	356	164
Total Operating Income	624	-39	471	375	232	423	369	372	346	85
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	641	996	547	683	733	717	709	703	840	1,089
Selling, General & Admin Expense	402	427	444	420	465	452	455	445	582	673
Depreciation Expense	239	255	257	260	261	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	-76	361	55	14	31	13	-5.00	18	10	79
Interest Expense	99	100	98	95	97	96	95	96	97	94
Interest & Investment Income	105	443	89	89	128	91	95	106	97	169
Other Income / (Expense), net	-82	18	64	20	0.00	18	-5.00	8.00	10	4.00
Income Tax Expense	129	26	83	56	-5.00	55	28	74	55	47
Net Income / (Loss) Attributable to Noncontrolling Interest	349	251	374	285	239	329	294	277	268	128
Basic Earnings per Share	$0.36	$0.23	$0.35	$0.25	$0.15	$0.26	$0.21	$0.20	$0.17	($0.06)
Weighted Average Basic Shares Outstanding	194M	194M	194M	195M	196M	195M	197M	197M	197M	197M
Diluted Earnings per Share	$0.36	$0.23	$0.35	$0.25	$0.15	$0.26	$0.21	$0.20	$0.17	($0.06)
Weighted Average Diluted Shares Outstanding	194M	194M	194M	195M	196M	195M	197M	197M	197M	197M
Weighted Average Basic & Diluted Shares Outstanding	194.29M	194.41M	194.41M	195.96M	196.42M	197.12M	197.25M	197.26M	197.47M	197.74M

This table details how cash moves in and out of Plains GP'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	-374	20	-10	38	15	-21	393	-52	49	-104
Net Cash From Operating Activities	1,347	718	2,496	2,604	2,500	1,510	1,991	2,404	2,722	2,484
Net Cash From Continuing Operating Activities	1,347	718	2,496	2,604	2,500	1,510	1,993	2,404	2,722	2,484
Net Income / (Loss) Continuing Operations	809	660	-41	2,107	2,062	-2,440	600	1,163	1,425	1,070
Consolidated Net Income / (Loss)	809	660	-41	2,107	2,062	-2,440	600	1,163	1,425	1,070
Depreciation Expense	433	515	519	521	604	656	777	968	1,051	1,026
Non-Cash Adjustments To Reconcile Net Income	107	30	167	-127	-218	3,670	781	302	8.00	307
Changes in Operating Assets and Liabilities, net	-2.00	-487	1,851	103	52	-376	-165	-29	238	81
Net Cash From Investing Activities	-2,530	-1,273	-1,570	-813	-1,765	-1,093	386	-526	-702	-875
Net Cash From Continuing Investing Activities	-2,530	-1,273	-1,570	-813	-1,765	-1,093	386	-526	-702	-875
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
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	813	571	-940	-1,753	-717	-430	-1,979	-1,927	-1,971	-1,702
Net Cash From Continuing Financing Activities	813	571	-940	-1,753	-717	-430	-1,979	-1,927	-1,971	-1,702
Repayment of Debt	-605	-1,336	-2,040	-143	-960	-117	-906	-799	-755	-839
Payment of Dividends	-1,660	-1,653	-1,393	-1,032	-1,208	-913	-907	-1,154	-1,322	-1,570
Issuance of Debt	1,679	748	5.00	200	998	748	-	0.00	0.00	650
Issuance of Common Equity	1,099	796	1,664	0.00	128	-	1.00	26	106	57
Other Net Changes in Cash	-	-	4.00	-	-3.00	-8.00	-5.00	-3.00	0.00	-11
Cash Interest Paid	405	462	486	400	397	428	401	393	377	351
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 GP'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	355	-221	125	407	-674	191	-119	222	85	-292
Net Cash From Operating Activities	941	334	742	887	83	1,010	418	652	688	726
Net Cash From Continuing Operating Activities	941	334	742	887	83	1,010	418	652	688	726
Net Income / (Loss) Continuing Operations	420	295	443	333	268	381	336	317	300	117
Consolidated Net Income / (Loss)	420	295	443	333	268	381	336	317	300	117
Depreciation Expense	238	255	257	260	261	273	254	257	258	257
Non-Cash Adjustments To Reconcile Net Income	147	24	-178	127	25	34	45	83	52	127
Changes in Operating Assets and Liabilities, net	136	-240	220	167	-471	322	-217	-5.00	78	225
Net Cash From Investing Activities	-168	-235	158	-164	-438	-258	-261	-157	-193	-264
Net Cash From Continuing Investing Activities	-168	-235	158	-164	-438	-258	-261	-157	-193	-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	-19	-14	-9.00	-16	-1.00	-5.00	1.00
Net Cash From Financing Activities	-412	-322	-775	-324	-307	-565	-272	-271	-413	-746
Net Cash From Continuing Financing Activities	-412	-322	-775	-324	-307	-565	-272	-271	-413	-746
Repayment of Debt	-60	-5.00	-455	-4.00	-25	-271	-4.00	-443	-31	-361
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	116	59	112
Cash Income Taxes Paid	46	27	-18	26	20	41	86	107	43	33

This table presents Plains GP'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	24,142	26,103	26,753	26,830	29,969	25,951	29,978	29,207	28,597	27,756
Total Current Assets	2,972	4,275	4,003	3,536	4,614	3,668	6,140	5,358	4,916	4,776
Cash & Equivalents	30	50	40	69	47	25	452	404	453	349
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	87
Plant, Property, & Equipment, net	13,493	13,890	14,105	14,802	15,367	14,620	14,909	15,253	15,782	15,424
Plant, Property & Equipment, gross	15,695	16,261	16,901	17,905	18,983	18,620	19,292	20,055	21,143	21,300
Accumulated Depreciation	2,202	2,371	2,796	3,103	3,616	4,000	4,383	4,802	5,361	5,876
Total Noncurrent Assets	7,677	7,938	8,645	7,188	9,988	7,663	23,838	8,596	7,899	7,556
Long-Term Investments	2,027	2,343	2,756	2,702	3,683	3,764	3,805	3,084	2,820	2,811
Intangible Assets	-	-	-	-	-	805	1,960	2,145	1,875	1,677
Noncurrent Deferred & Refundable Income Taxes	1,835	1,876	1,386	-	1,280	1,444	1,362	1,309	1,239	1,220
Other Noncurrent Operating Assets	1,410	1,375	1,937	1,965	2,485	1,650	16,711	2,058	1,965	1,848
Total Liabilities & Shareholders' Equity	24,142	26,103	26,753	26,830	29,969	25,951	29,978	29,207	28,597	27,756
Total Liabilities	14,908	15,396	14,395	23,564	15,484	14,761	15,801	14,569	13,625	13,440
Total Current Liabilities	3,409	4,666	4,533	3,458	5,019	4,255	6,234	5,893	5,005	4,924
Short-Term Debt	999	1,715	737	66	504	831	822	1,159	446	408
Accounts Payable	2,040	2,590	3,324	2,705	3,687	2,425	4,811	4,045	3,845	3,881
Other Current Liabilities	370	361	472	687	828	999	601	689	714	635
Total Noncurrent Liabilities	11,499	10,730	9,862	20,106	10,465	10,506	9,567	8,676	8,620	8,516
Long-Term Debt	11,499	10,730	9,862	10,053	9,187	9,382	8,398	7,287	7,305	7,213
Other Noncurrent Operating Liabilities	-	-	-	10,053	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	9,234	10,707	12,358	11,473	14,485	11,190	14,177	14,638	14,972	14,316
Total Preferred & Common Equity	0.00	0.00	0.00	0.00	2,155	1,464	1,533	1,524	1,548	1,351
Total Common Equity	0.00	0.00	0.00	0.00	2,155	1,464	1,533	1,524	1,548	1,351
Common Stock	-	-	-	-	2,155	1,464	1,533	1,524	1,548	1,351
Noncontrolling Interest	9,234	10,707	12,358	11,473	12,330	9,726	12,644	13,114	13,424	12,965

This table presents Plains GP'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	28,788	28,739	28,167	28,997	28,590	28,667	28,357
Total Current Assets	5,576	5,125	4,660	5,333	5,004	5,380	5,160
Cash & Equivalents	625	529	936	262	334	556	641
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	114	131
Plant, Property, & Equipment, net	14,569	15,197	15,222	15,590	15,671	15,616	15,651
Plant, Property & Equipment, gross	19,345	20,173	20,397	20,888	21,162	21,254	21,464
Accumulated Depreciation	4,776	4,976	5,175	5,298	5,491	5,638	5,813
Total Noncurrent Assets	8,643	23,614	8,285	8,074	7,915	7,671	7,546
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
Noncurrent Deferred & Refundable Income Taxes	1,325	1,278	1,263	1,259	1,231	1,221	1,211
Other Noncurrent Operating Assets	1,849	17,193	1,961	2,016	1,999	1,847	1,815
Total Liabilities & Shareholders' Equity	28,788	28,739	28,167	28,997	28,590	28,667	28,357
Total Liabilities	14,716	13,975	13,300	14,186	13,712	13,867	13,613
Total Current Liabilities	5,335	5,368	4,654	5,608	5,146	5,398	5,126
Short-Term Debt	459	708	709	710	554	765	765
Accounts Payable	3,997	4,010	3,296	4,146	3,992	4,016	3,675
Other Current Liabilities	879	650	649	752	600	617	686
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	14,072	14,764	14,867	14,811	14,878	14,800	14,744
Total Preferred & Common Equity	1,509	1,544	1,568	1,531	1,518	1,490	1,462
Total Common Equity	1,509	1,544	1,568	1,531	1,518	1,490	1,462
Common Stock	1,509	1,544	1,568	1,531	1,518	1,490	1,462
Noncontrolling Interest	12,563	13,220	13,299	13,280	13,360	13,310	13,282

This table displays calculated financial ratios and metrics derived from Plains GP'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	-22.57%	-8.67%	6.31%	70.40%	-6.39%	-164.72%	197.04%	24.11%	30.55%	-16.54%
EBIT Growth	-30.07%	-18.23%	9.09%	102.96%	-11.52%	-216.97%	136.73%	23.69%	50.52%	-25.83%
NOPAT Growth	-33.51%	-13.79%	-105.93%	3,886.14%	-8.20%	-191.44%	142.54%	49.37%	25.04%	-25.72%
Net Income Growth	-39.08%	-18.42%	-106.21%	5,239.02%	-2.14%	-218.33%	124.59%	93.83%	22.53%	-24.91%
EPS Growth	0.00%	0.00%	0.00%	141.95%	-7.11%	-256.63%	110.10%	177.42%	17.44%	-48.51%
Operating Cash Flow Growth	-32.24%	-46.70%	247.63%	4.33%	-3.99%	-39.60%	31.85%	20.74%	13.23%	-8.74%
Free Cash Flow Firm Growth	-128.81%	40.36%	374.63%	2,253.41%	-172.24%	112.56%	-1,453.20%	198.41%	-90.52%	12.65%
Invested Capital Growth	7.43%	5.51%	-2.88%	-53.82%	119.22%	-13.88%	93.72%	-42.45%	-0.75%	-3.46%
Revenue Q/Q Growth	-16.16%	4.97%	6.73%	3.59%	1.11%	-12.05%	20.04%	-0.06%	-0.52%	-0.59%
EBITDA Q/Q Growth	-9.02%	-5.64%	-0.97%	63.88%	-26.58%	-26.16%	71.88%	-22.55%	22.08%	-14.25%
EBIT Q/Q Growth	-13.06%	-12.19%	2.86%	89.07%	-32.66%	-17.43%	260.25%	-36.91%	40.49%	-22.84%
NOPAT Q/Q Growth	-13.12%	-7.36%	-105.40%	447.44%	-30.76%	-19.87%	189.57%	-31.06%	42.79%	-24.45%
Net Income Q/Q Growth	-15.99%	-12.47%	-105.62%	430.73%	-27.22%	-14.82%	466.04%	-13.08%	6.42%	-19.79%
EPS Q/Q Growth	0.00%	0.00%	-1,389.74%	152.10%	-28.73%	-10.83%	272.22%	-18.10%	3.06%	-38.10%
Operating Cash Flow Q/Q Growth	-30.39%	-6.75%	24.99%	39.03%	-18.99%	-23.70%	23.28%	-11.06%	33.04%	-10.26%
Free Cash Flow Firm Q/Q Growth	19.15%	0.81%	217.31%	622.46%	-637.39%	-49.99%	-926.16%	2,462.52%	349.83%	-7.61%
Invested Capital Q/Q Growth	1.89%	1.43%	-7.95%	-54.56%	-4.62%	-0.57%	112.62%	7.62%	-1.39%	-2.38%
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	7.27%	7.62%	6.24%	8.18%	7.75%	-7.25%	3.89%	3.55%	5.45%	4.42%
Operating Margin	5.43%	4.91%	4.37%	6.67%	5.88%	-10.23%	2.00%	2.24%	3.08%	2.34%
EBIT Margin	5.40%	5.07%	4.26%	6.65%	5.95%	-10.06%	2.05%	1.86%	3.29%	2.37%
Profit (Net Income) Margin	3.49%	3.27%	-0.16%	6.19%	6.12%	-10.48%	1.43%	2.03%	2.93%	2.14%
Tax Burden Percent	81.63%	89.43%	-4.58%	87.46%	92.14%	93.59%	84.27%	82.54%	88.29%	83.99%
Interest Burden Percent	79.22%	72.14%	80.29%	106.36%	111.68%	111.22%	82.69%	132.30%	100.69%	107.15%
Effective Tax Rate	18.37%	10.57%	104.58%	12.54%	7.86%	0.00%	15.73%	17.46%	11.71%	16.01%
Return on Invested Capital (ROIC)	5.41%	4.38%	-0.26%	13.49%	12.28%	-8.78%	2.75%	3.95%	6.79%	5.15%
ROIC Less NNEP Spread (ROIC-NNEP)	3.16%	2.18%	-0.13%	17.73%	24.92%	-21.32%	1.91%	4.78%	8.90%	7.07%
Return on Net Nonoperating Assets (RNNOA)	3.29%	2.24%	-0.10%	4.20%	3.61%	-10.22%	1.98%	4.12%	2.84%	2.16%
Return on Equity (ROE)	8.69%	6.62%	-0.36%	17.68%	15.89%	-19.01%	4.73%	8.07%	9.63%	7.31%
Cash Return on Invested Capital (CROIC)	-1.75%	-0.98%	2.67%	87.12%	-62.42%	6.13%	-61.07%	57.84%	7.54%	8.67%
Operating Return on Assets (OROA)	5.21%	4.07%	4.22%	8.45%	7.06%	-8.38%	3.08%	3.60%	5.55%	4.22%
Return on Assets (ROA)	3.37%	2.63%	-0.16%	7.86%	7.26%	-8.73%	2.15%	3.93%	4.93%	3.80%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	1.32%	-2.68%	0.56%	0.86%	1.00%	0.72%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	95.68%	-166.67%	39.14%	76.31%	92.05%	79.20%
Net Operating Profit after Tax (NOPAT)	1,027	885	-52	1,987	1,824	-1,668	710	1,060	1,325	984
NOPAT Margin	4.44%	4.39%	-0.20%	5.84%	5.42%	-7.16%	1.69%	1.85%	2.72%	1.97%
Net Nonoperating Expense Percent (NNEP)	2.25%	2.20%	-0.13%	-4.25%	-12.64%	12.54%	0.83%	-0.83%	-2.11%	-1.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.59%	5.83%	4.49%
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	7.49%	7.25%	5.58%	4.65%	4.77%	5.81%	3.24%	2.87%	3.66%	4.30%
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	9.36%	9.71%	7.97%	5.84%	6.64%	22.51%	6.49%	5.03%	5.50%	6.67%
Earnings before Interest and Taxes (EBIT)	1,251	1,023	1,116	2,265	2,004	-2,344	861	1,065	1,603	1,189
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,684	1,538	1,635	2,786	2,608	-1,688	1,638	2,033	2,654	2,215
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	1.12	0.83	1.05	1.35	1.85	2.64
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	1.84	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.05	0.10	0.08	0.06	0.07	0.05	0.04	0.04	0.06	0.07
Price to Earnings (P/E)	9.65	21.55	0.00	6.28	7.26	0.00	26.92	12.24	14.49	34.63
Dividend Yield	17.62%	0.00%	14.29%	9.11%	10.45%	13.95%	8.66%	7.87%	7.32%	7.03%
Earnings Yield	10.36%	4.64%	0.00%	15.93%	13.77%	0.00%	3.72%	8.17%	6.90%	2.89%
Enterprise Value to Invested Capital (EV/IC)	1.06	1.10	1.10	2.25	1.01	0.99	0.56	1.03	1.07	1.12
Enterprise Value to Revenue (EV/Rev)	0.90	1.13	0.85	0.61	0.61	0.74	0.46	0.35	0.43	0.42
Enterprise Value to EBITDA (EV/EBITDA)	12.36	14.81	13.62	7.51	7.92	0.00	11.74	9.90	7.83	9.48
Enterprise Value to EBIT (EV/EBIT)	16.64	22.27	19.96	9.24	10.31	0.00	22.33	18.90	12.96	17.66
Enterprise Value to NOPAT (EV/NOPAT)	20.27	25.73	0.00	10.53	11.32	0.00	27.09	18.99	15.67	21.33
Enterprise Value to Operating Cash Flow (EV/OCF)	15.45	31.73	8.92	8.03	8.26	11.47	9.65	8.37	7.63	8.45
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	40.83	1.63	0.00	14.87	0.00	1.30	14.12	12.67
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.35	1.16	0.86	0.88	0.67	0.91	0.65	0.58	0.52	0.53
Long-Term Debt to Equity	1.25	1.00	0.80	0.88	0.63	0.84	0.59	0.50	0.49	0.50
Financial Leverage	1.04	1.03	0.77	0.24	0.14	0.48	1.04	0.86	0.32	0.31
Leverage Ratio	2.58	2.52	2.29	2.25	2.19	2.18	2.20	2.05	1.95	1.92
Compound Leverage Factor	2.05	1.82	1.84	2.39	2.44	2.42	1.82	2.72	1.97	2.06
Debt to Total Capital	57.51%	53.75%	46.17%	46.86%	40.09%	47.72%	39.41%	36.59%	34.11%	34.74%
Short-Term Debt to Total Capital	4.60%	7.41%	3.21%	0.31%	2.08%	3.88%	3.51%	5.02%	1.96%	1.86%
Long-Term Debt to Total Capital	52.91%	46.35%	42.96%	46.56%	38.00%	43.84%	35.89%	31.57%	32.15%	32.88%
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	42.49%	46.25%	53.83%	53.14%	51.00%	45.44%	54.04%	56.81%	59.08%	59.10%
Common Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	8.91%	6.84%	6.55%	6.60%	6.81%	6.16%
Debt to EBITDA	7.42	8.09	6.48	3.63	3.72	-6.05	5.63	4.15	2.92	3.44
Net Debt to EBITDA	6.20	6.54	4.77	2.64	2.27	-3.78	3.03	2.44	1.69	2.01
Long-Term Debt to EBITDA	6.83	6.98	6.03	3.61	3.52	-5.56	5.13	3.58	2.75	3.26
Debt to NOPAT	12.17	14.06	-201.94	5.09	5.31	-6.12	12.99	7.97	5.85	7.74
Net Debt to NOPAT	10.17	11.35	-148.67	3.70	3.25	-3.83	6.99	4.68	3.38	4.53
Long-Term Debt to NOPAT	11.20	12.12	-187.90	5.06	5.04	-5.62	11.84	6.88	5.51	7.33
Altman Z-Score	1.15	0.96	1.18	1.60	1.42	0.62	1.56	2.15	2.01	2.10
Noncontrolling Interest Sharing Ratio	100.00%	100.00%	100.00%	100.00%	91.70%	85.90%	88.19%	89.39%	89.63%	90.10%
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)	-333	-199	546	12,838	-9,275	1,165	-15,763	15,513	1,471	1,657
Operating Cash Flow to CapEx	64.95%	105.59%	0.00%	868.00%	226.45%	488.67%	0.00%	608.61%	1,178.36%	409.90%
Free Cash Flow to Firm to Interest Expense	-0.75	-0.41	1.07	29.79	-21.82	2.67	-37.09	38.30	3.81	4.34
Operating Cash Flow to Interest Expense	3.04	1.50	4.89	6.04	5.88	3.46	4.68	5.94	7.05	6.50
Operating Cash Flow Less CapEx to Interest Expense	-1.64	0.08	5.01	5.35	3.28	2.75	5.97	4.96	6.45	4.92
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.96	0.80	0.99	1.27	1.19	0.83	1.50	1.94	1.69	1.78
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	1.47	1.87	2.36	2.23	1.55	2.85	3.80	3.14	3.21
Accounts Payable Turnover	7.85	7.44	7.77	9.88	9.22	6.69	10.64	12.01	11.29	11.79
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)	46.51	49.03	46.96	36.93	39.61	54.60	34.30	30.39	32.34	30.95
Cash Conversion Cycle (CCC)	4.89	11.64	6.31	0.74	0.99	4.90	3.96	2.20	1.62	0.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	19,675	20,759	20,161	9,310	20,409	17,576	34,049	19,596	19,450	18,777
Invested Capital Turnover	1.22	1.00	1.28	2.31	2.27	1.23	1.63	2.14	2.50	2.62
Increase / (Decrease) in Invested Capital	1,360	1,084	-598	-10,851	11,099	-2,833	16,473	-14,453	-146	-673
Enterprise Value (EV)	20,814	22,785	22,274	20,917	20,658	17,323	19,222	20,128	20,772	20,993
Market Capitalization	1,139	2,026	2,113	2,096	2,404	1,211	1,615	2,056	2,870	3,567
Book Value per Share	$0.00	$0.00	$0.00	$0.00	$11.84	$7.80	$7.90	$7.84	$7.88	$6.84
Tangible Book Value per Share	($10.59)	($8.73)	($16.57)	($15.84)	($2.12)	$3.51	($2.20)	($3.20)	($1.66)	($1.65)
Total Capital	21,732	23,152	22,957	21,592	24,176	21,403	23,397	23,084	22,723	21,937
Total Debt	12,498	12,445	10,599	10,119	9,691	10,213	9,220	8,446	7,751	7,621
Total Long-Term Debt	11,499	10,730	9,862	10,053	9,187	9,382	8,398	7,287	7,305	7,213
Net Debt	10,441	10,052	7,803	7,348	5,924	6,386	4,963	4,958	4,478	4,461
Capital Expenditures (CapEx)	2,074	680	-59	300	1,104	309	-545	395	231	606
Debt-free, Cash-free Net Working Capital (DFCFNWC)	532	1,274	167	75	15	181	276	220	-96	-89
Debt-free Net Working Capital (DFNWC)	562	1,324	207	144	99	244	728	624	357	260
Net Working Capital (NWC)	-437	-391	-530	78	-405	-587	-94	-535	-89	-148
Net Nonoperating Expense (NNE)	218	225	-11	-120	-238	772	110	-103	-100	-86
Net Nonoperating Obligations (NNO)	10,441	10,052	7,803	-2,163	5,924	6,386	19,872	4,958	4,478	4,461
Total Depreciation and Amortization (D&A)	433	515	519	521	604	656	777	968	1,051	1,026
Debt-free, Cash-free Net Working Capital to Revenue	2.30%	6.31%	0.64%	0.22%	0.04%	0.78%	0.66%	0.38%	-0.20%	-0.18%
Debt-free Net Working Capital to Revenue	2.43%	6.56%	0.79%	0.42%	0.29%	1.05%	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%	-0.22%	-0.93%	-0.18%	-0.30%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.97	($3.06)	$0.31	$0.86	$1.01	$0.52
Adjusted Weighted Average Basic Shares Outstanding	91.70M	103.27M	157.01M	159.49M	168M	186M	194M	194M	195M	197M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.96	($3.07)	$0.31	$0.86	$1.01	$0.52
Adjusted Weighted Average Diluted Shares Outstanding	91.70M	103.27M	157.01M	159.49M	170M	246M	194M	194M	195M	197M
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	91.70M	103.27M	157.01M	159.49M	182.14M	194.10M	194.19M	194.41M	197.12M	197.74M
Normalized Net Operating Profit after Tax (NOPAT)	1,027	867	879	1,887	1,850	596	1,208	1,282	1,191	1,119
Normalized NOPAT Margin	4.44%	4.30%	3.35%	5.54%	5.49%	2.56%	2.87%	2.24%	2.45%	2.23%
Pre Tax Income Margin	4.28%	3.66%	3.42%	7.07%	6.65%	-11.19%	1.69%	2.46%	3.31%	2.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.82	2.13	2.19	5.26	4.72	-5.38	2.03	2.63	4.15	3.11
NOPAT to Interest Expense	2.32	1.84	-0.10	4.61	4.29	-3.83	1.67	2.62	3.43	2.58
EBIT Less CapEx to Interest Expense	-1.86	0.71	2.30	4.56	2.12	-6.08	3.31	1.65	3.55	1.53
NOPAT Less CapEx to Interest Expense	-2.36	0.43	0.01	3.91	1.69	-4.53	2.95	1.64	2.83	0.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	205.19%	250.45%	-3,397.56%	48.98%	58.58%	-37.42%	151.17%	99.23%	92.77%	146.73%
Augmented Payout Ratio	205.19%	250.45%	-3,397.56%	48.98%	58.58%	-37.42%	151.17%	99.23%	92.77%	146.73%

This table displays calculated financial ratios and metrics derived from Plains GP'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%	-0.28%	-9.88%	-29.08%	-15.80%	-1.97%	-2.80%	11.47%	5.57%	-2.33%
EBITDA Growth	509.38%	-71.67%	63.30%	22.66%	-36.79%	205.13%	-21.97%	-2.75%	24.54%	-51.54%
EBIT Growth	1,184.00%	-103.49%	110.63%	36.21%	-57.20%	2,200.00%	-31.96%	-3.80%	53.45%	-79.82%
NOPAT Growth	1,804.92%	-107.45%	59.14%	-2.88%	-50.48%	1,131.33%	-14.13%	-6.11%	23.74%	-83.59%
Net Income Growth	940.00%	-37.23%	111.96%	39.33%	-36.19%	29.15%	-24.15%	-5.11%	12.31%	-69.29%
EPS Growth	400.00%	-45.24%	218.18%	56.25%	-58.33%	13.04%	-40.00%	-20.00%	13.33%	-123.08%
Operating Cash Flow Growth	180.90%	-47.24%	118.88%	12.28%	-91.18%	202.40%	-43.67%	-26.49%	728.92%	-28.12%
Free Cash Flow Firm Growth	-204.99%	190.15%	-792.68%	107.42%	25.40%	-96.42%	202.52%	-319.02%	161.19%	42.28%
Invested Capital Growth	13.70%	-42.45%	79.29%	1.26%	8.33%	-0.75%	-43.16%	2.61%	-2.49%	-3.46%
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	46.07%	-70.00%	238.46%	-17.30%	-24.73%	44.83%	-13.45%	3.07%	-3.61%	-43.65%
EBIT Q/Q Growth	86.90%	-103.87%	2,647.62%	-26.17%	-41.27%	90.09%	-17.46%	4.40%	-6.32%	-75.00%
NOPAT Q/Q Growth	44.42%	-107.51%	1,206.77%	-19.07%	-26.36%	56.36%	-7.85%	-11.51%	-2.94%	-79.27%
Net Income Q/Q Growth	75.73%	-29.76%	50.17%	-24.83%	-19.52%	42.16%	-11.81%	-5.95%	-4.75%	-61.13%
EPS Q/Q Growth	125.00%	-36.11%	52.17%	-28.57%	-40.00%	73.33%	-19.23%	-4.76%	-15.00%	-135.29%
Operating Cash Flow Q/Q Growth	19.11%	-64.51%	122.16%	19.54%	-90.64%	1,116.87%	-58.61%	55.98%	5.52%	5.52%
Free Cash Flow Firm Q/Q Growth	-46.29%	939.86%	-202.64%	100.59%	-1,571.68%	140.27%	2,842.09%	-101.26%	511.13%	-6.37%
Invested Capital Q/Q Growth	-2.28%	7.62%	75.33%	-45.09%	4.55%	-1.39%	0.40%	-0.87%	-0.64%	-2.38%
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	5.44%	1.81%	6.42%	5.65%	4.08%	5.62%	5.15%	4.93%	4.82%	2.79%
Operating Margin	4.35%	-0.30%	3.82%	3.23%	1.92%	3.33%	3.08%	2.88%	2.72%	0.69%
EBIT Margin	3.78%	-0.16%	4.34%	3.40%	1.92%	3.47%	3.03%	2.94%	2.79%	0.72%
Profit (Net Income) Margin	2.93%	2.28%	3.59%	2.87%	2.22%	3.00%	2.80%	2.44%	2.36%	0.94%
Tax Burden Percent	76.50%	91.90%	84.22%	85.60%	101.90%	87.39%	92.31%	81.03%	84.55%	71.34%
Interest Burden Percent	101.29%	-1,528.57%	98.32%	98.48%	113.36%	98.87%	100.00%	102.63%	100.00%	184.27%
Effective Tax Rate	23.50%	8.10%	15.78%	14.40%	-1.90%	12.61%	7.69%	18.97%	15.45%	28.66%
Return on Invested Capital (ROIC)	11.17%	-0.59%	6.73%	7.56%	5.06%	7.26%	5.10%	6.06%	5.94%	1.28%
ROIC Less NNEP Spread (ROIC-NNEP)	9.95%	2.07%	7.10%	7.84%	5.75%	7.50%	5.06%	6.40%	6.12%	2.54%
Return on Net Nonoperating Assets (RNNOA)	3.78%	1.79%	6.02%	2.32%	1.80%	2.39%	4.14%	1.85%	1.95%	0.78%
Return on Equity (ROE)	14.95%	1.20%	12.75%	9.88%	6.86%	9.65%	9.24%	7.91%	7.88%	2.06%
Cash Return on Invested Capital (CROIC)	-3.84%	57.84%	-52.26%	5.13%	-3.11%	7.54%	59.76%	3.97%	9.21%	8.67%
Operating Return on Assets (OROA)	7.97%	-0.31%	7.99%	5.97%	3.26%	5.85%	5.12%	5.14%	4.91%	1.28%
Return on Assets (ROA)	6.18%	4.41%	6.62%	5.04%	3.76%	5.06%	4.73%	4.27%	4.15%	1.68%
Return on Common Equity (ROCE)	1.72%	0.13%	1.36%	1.05%	0.72%	1.00%	0.95%	0.82%	0.80%	0.20%
Return on Equity Simple (ROE_SIMPLE)	88.67%	0.00%	90.48%	95.09%	87.46%	0.00%	86.82%	87.32%	91.24%	0.00%
Net Operating Profit after Tax (NOPAT)	477	-36	397	321	236	370	341	301	293	61
NOPAT Margin	3.33%	-0.28%	3.21%	2.77%	1.96%	2.91%	2.84%	2.33%	2.30%	0.49%
Net Nonoperating Expense Percent (NNEP)	1.22%	-2.66%	-0.38%	-0.28%	-0.70%	-0.24%	0.04%	-0.34%	-0.18%	-1.26%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.16%	-	-	-	1.63%	-	-	-	0.28%
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%	3.30%	3.60%	3.62%	3.85%	3.56%	3.79%	3.44%	4.57%	5.43%
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	4.47%	7.69%	4.43%	5.89%	6.07%	5.65%	5.91%	5.44%	6.59%	8.78%
Earnings before Interest and Taxes (EBIT)	542	-21	535	395	232	441	364	380	356	89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	780	234	792	655	493	714	618	637	614	346
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.22	1.35	1.49	1.69	1.89	1.85	2.29	2.45	2.45	2.64
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.03	0.04	0.04	0.05	0.06	0.06	0.07	0.07	0.07	0.07
Price to Earnings (P/E)	8.87	12.24	10.66	11.40	15.23	14.49	20.35	22.54	21.59	34.63
Dividend Yield	8.41%	7.87%	7.80%	7.13%	6.91%	7.32%	6.34%	6.32%	6.72%	7.03%
Earnings Yield	11.28%	8.17%	9.38%	8.78%	6.57%	6.90%	4.91%	4.44%	4.63%	2.89%
Enterprise Value to Invested Capital (EV/IC)	1.02	1.03	0.58	1.06	1.07	1.07	1.10	1.11	1.11	1.12
Enterprise Value to Revenue (EV/Rev)	0.32	0.35	0.36	0.39	0.43	0.43	0.44	0.43	0.42	0.42
Enterprise Value to EBITDA (EV/EBITDA)	7.06	9.90	8.51	8.10	9.70	7.83	8.67	8.74	8.27	9.48
Enterprise Value to EBIT (EV/EBIT)	10.98	18.90	14.79	13.74	18.48	12.96	15.01	15.19	13.86	17.66
Enterprise Value to NOPAT (EV/NOPAT)	12.06	18.99	16.46	16.68	22.72	15.67	16.92	17.22	16.39	21.33
Enterprise Value to Operating Cash Flow (EV/OCF)	6.86	8.37	7.09	6.87	10.31	7.63	8.96	9.95	7.72	8.45
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.30	0.00	20.74	0.00	14.12	1.33	28.39	11.90	12.67
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.60	0.58	0.54	0.54	0.54	0.52	0.53	0.54	0.54	0.53
Long-Term Debt to Equity	0.57	0.50	0.49	0.49	0.49	0.49	0.49	0.49	0.49	0.50
Financial Leverage	0.38	0.86	0.85	0.30	0.31	0.32	0.82	0.29	0.32	0.31
Leverage Ratio	2.19	2.05	2.10	2.02	2.00	1.95	1.93	1.92	1.94	1.92
Compound Leverage Factor	2.22	-31.40	2.06	1.99	2.27	1.93	1.93	1.97	1.94	3.55
Debt to Total Capital	37.51%	36.59%	35.13%	34.98%	35.09%	34.11%	34.57%	35.02%	35.11%	34.74%
Short-Term Debt to Total Capital	2.04%	5.02%	3.11%	3.10%	3.11%	1.96%	2.44%	3.36%	3.37%	1.86%
Long-Term Debt to Total Capital	35.47%	31.57%	32.02%	31.88%	31.98%	32.15%	32.14%	31.66%	31.74%	32.88%
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	55.79%	56.81%	58.08%	58.17%	58.20%	59.08%	58.75%	58.44%	58.46%	59.10%
Common Equity to Total Capital	6.70%	6.60%	6.78%	6.86%	6.71%	6.81%	6.68%	6.54%	6.43%	6.16%
Debt to EBITDA	3.22	4.15	3.42	3.25	3.68	2.92	3.17	3.24	3.09	3.44
Net Debt to EBITDA	1.58	2.44	1.88	1.62	2.26	1.69	1.88	1.85	1.74	2.01
Long-Term Debt to EBITDA	3.04	3.58	3.11	2.96	3.36	2.75	2.95	2.93	2.79	3.26
Debt to NOPAT	5.49	7.97	6.61	6.69	8.63	5.85	6.19	6.38	6.12	7.74
Net Debt to NOPAT	2.69	4.68	3.64	3.35	5.29	3.38	3.66	3.65	3.45	4.53
Long-Term Debt to NOPAT	5.19	6.88	6.03	6.10	7.86	5.51	5.75	5.77	5.54	7.33
Altman Z-Score	2.14	2.02	2.10	1.98	1.83	1.88	1.88	1.93	1.98	1.97
Noncontrolling Interest Sharing Ratio	88.46%	89.39%	89.35%	89.33%	89.47%	89.63%	89.67%	89.69%	89.87%	90.10%
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	0.90	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,717	14,417	-14,798	87	-1,281	516	15,171	-191	784	734
Operating Cash Flow to CapEx	777.69%	236.88%	0.00%	611.72%	61.48%	893.81%	271.43%	479.41%	443.87%	450.93%
Free Cash Flow to Firm to Interest Expense	-17.34	144.17	-151.00	0.92	-13.20	5.37	159.69	-1.99	8.08	7.80
Operating Cash Flow to Interest Expense	9.51	3.34	7.57	9.34	0.86	10.52	4.40	6.79	7.09	7.72
Operating Cash Flow Less CapEx to Interest Expense	8.28	1.93	9.22	7.81	-0.54	9.34	2.78	5.38	5.49	6.01
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.11	1.94	1.84	1.75	1.69	1.69	1.69	1.75	1.76	1.78
Accounts Receivable Turnover	14.59	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	4.15	3.80	3.72	3.43	3.25	3.14	3.13	3.22	3.22	3.21
Accounts Payable Turnover	13.45	12.01	9.51	10.77	11.04	11.29	11.03	12.43	11.74	11.79
Days Sales Outstanding (DSO)	25.02	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)	27.14	30.39	38.40	33.90	33.05	32.34	33.10	29.37	31.10	30.95
Cash Conversion Cycle (CCC)	2.30	2.20	1.29	0.93	3.04	1.62	0.91	1.40	2.81	0.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	18,208	19,596	34,358	18,866	19,725	19,450	19,528	19,358	19,234	18,777
Invested Capital Turnover	3.35	2.14	2.09	2.73	2.58	2.50	1.80	2.60	2.59	2.62
Increase / (Decrease) in Invested Capital	2,194	-14,453	15,195	234	1,517	-146	-14,830	492	-491	-673
Enterprise Value (EV)	18,534	20,128	19,910	19,942	21,088	20,772	21,490	21,520	21,356	20,993
Market Capitalization	1,835	2,056	2,293	2,644	2,894	2,870	3,480	3,652	3,584	3,567
Book Value per Share	$7.77	$7.84	$7.94	$8.07	$7.81	$7.88	$7.70	$7.55	$7.41	$6.84
Tangible Book Value per Share	($1.42)	($3.20)	($2.72)	($2.22)	($2.24)	($1.66)	($1.47)	($1.27)	($1.07)	($1.65)
Total Capital	22,517	23,084	22,760	22,864	22,817	22,723	22,740	22,776	22,721	21,937
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	4,136	4,958	4,397	3,999	4,914	4,478	4,650	4,558	4,490	4,461
Capital Expenditures (CapEx)	121	141	-162	145	135	113	154	136	155	161
Debt-free, Cash-free Net Working Capital (DFCFNWC)	75	220	-64	-221	173	-96	78	191	158	-89
Debt-free Net Working Capital (DFNWC)	700	624	465	715	435	357	412	747	799	260
Net Working Capital (NWC)	241	-535	-243	6.00	-275	-89	-142	-18	34	-148
Net Nonoperating Expense (NNE)	57	-331	-46	-12	-32	-11	4.62	-15	-8.46	-56
Net Nonoperating Obligations (NNO)	4,136	4,958	19,594	3,999	4,914	4,478	4,650	4,558	4,490	4,461
Total Depreciation and Amortization (D&A)	238	255	257	260	261	273	254	257	258	257
Debt-free, Cash-free Net Working Capital to Revenue	0.13%	0.38%	-0.11%	-0.43%	0.35%	-0.20%	0.16%	0.38%	0.31%	-0.18%
Debt-free Net Working Capital to Revenue	1.22%	1.09%	0.83%	1.40%	0.89%	0.73%	0.85%	1.50%	1.59%	0.52%
Net Working Capital to Revenue	0.42%	-0.93%	-0.43%	0.01%	-0.56%	-0.18%	-0.29%	-0.04%	0.07%	-0.30%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.36	$0.23	$0.35	$0.25	$0.15	$0.26	$0.21	$0.20	$0.17	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	194M	194M	194M	195M	196M	195M	197M	197M	197M	197M
Adjusted Diluted Earnings per Share	$0.36	$0.23	$0.35	$0.25	$0.15	$0.26	$0.21	$0.20	$0.17	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	194M	194M	194M	195M	196M	195M	197M	197M	197M	197M
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	194.29M	194.41M	194.41M	195.96M	196.42M	197.12M	197.25M	197.26M	197.47M	197.74M
Normalized Net Operating Profit after Tax (NOPAT)	477	253	267	324	167	363	341	302	293	173
Normalized NOPAT Margin	3.33%	1.95%	2.16%	2.79%	1.39%	2.86%	2.84%	2.34%	2.30%	1.40%
Pre Tax Income Margin	3.83%	2.48%	4.26%	3.35%	2.18%	3.43%	3.03%	3.02%	2.79%	1.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.47	-0.21	5.46	4.16	2.39	4.59	3.83	3.96	3.67	0.95
NOPAT to Interest Expense	4.82	-0.36	4.05	3.38	2.44	3.85	3.59	3.14	3.02	0.65
EBIT Less CapEx to Interest Expense	4.25	-1.62	7.11	2.63	1.00	3.42	2.21	2.54	2.07	-0.77
NOPAT Less CapEx to Interest Expense	3.60	-1.77	5.70	1.85	1.05	2.67	1.96	1.72	1.42	-1.07
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	81.54%	99.23%	87.76%	81.82%	96.49%	92.77%	105.39%	111.61%	113.57%	146.73%
Augmented Payout Ratio	81.54%	99.23%	87.76%	81.82%	96.49%	92.77%	105.39%	111.61%	113.57%	146.73%

Frequently Asked Questions About Plains GP's Financials

When does Plains GP's fiscal year end?

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

How has Plains GP's net income changed over the last 9 years?

Plains GP's net income appears to be on an upward trend, with a most recent value of $1.07 billion in 2024, rising from $809 million in 2015. The previous period was $1.43 billion in 2023.

What is Plains GP's operating income?

Plains GP's total operating income in 2024 was $1.17 billion, based on the following breakdown:

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

How has Plains GP revenue changed over the last 9 years?

Over the last 9 years, Plains GP'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 GP have?

Plains GP's total liabilities were at $13.44 billion at the end of 2024, a 1.4% decrease from 2023, and a 9.8% decrease since 2015.

How much cash does Plains GP have?

In the past 9 years, Plains GP's cash and equivalents has ranged from $25 million in 2020 to $453 million in 2023, and is currently $349 million as of their latest financial filing in 2024.

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

Over the last 9 years, Plains GP's book value per share changed from 0.00 in 2015 to 6.84 in 2024, a change of 684.2%.

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This page (NYSE:PAGP) was last updated on 4/25/2025 by MarketBeat.com Staff

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Plains GP (PAGP) Financials

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