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PLAINS ALL AMER PIPELINE LP (PAA) Stock Fundamental Analysis

NASDAQ:PAA - Nasdaq - US7265031051 - Currency: USD

16.53  -0.09 (-0.54%)

Fundamental Rating

3

PAA gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 213 industry peers in the Oil, Gas & Consumable Fuels industry. PAA may be in some trouble as it scores bad on both profitability and health. PAA has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

In the past year PAA was profitable.
PAA had a positive operating cash flow in the past year.
PAA had positive earnings in 4 of the past 5 years.
PAA had a positive operating cash flow in each of the past 5 years.
PAA Yearly Net Income VS EBIT VS OCF VS FCFPAA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B

1.2 Ratios

The Return On Assets of PAA (1.94%) is comparable to the rest of the industry.
PAA has a Return On Equity (5.24%) which is in line with its industry peers.
PAA has a Return On Invested Capital (5.56%) which is in line with its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for PAA is significantly below the industry average of 25.88%.
Industry RankSector Rank
ROA 1.94%
ROE 5.24%
ROIC 5.56%
ROA(3y)2.83%
ROA(5y)-0.31%
ROE(3y)7.62%
ROE(5y)-0.46%
ROIC(3y)5.79%
ROIC(5y)5.39%
PAA Yearly ROA, ROE, ROICPAA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

PAA has a Profit Margin of 1.03%. This is in the lower half of the industry: PAA underperforms 64.32% of its industry peers.
In the last couple of years the Profit Margin of PAA has declined.
PAA has a Operating Margin of 2.68%. This is in the lower half of the industry: PAA underperforms 71.36% of its industry peers.
In the last couple of years the Operating Margin of PAA has declined.
PAA has a Gross Margin of 5.48%. This is in the lower half of the industry: PAA underperforms 75.12% of its industry peers.
In the last couple of years the Gross Margin of PAA has declined.
Industry RankSector Rank
OM 2.68%
PM (TTM) 1.03%
GM 5.48%
OM growth 3Y-7.98%
OM growth 5Y-14.9%
PM growth 3Y3.2%
PM growth 5Y-29.38%
GM growth 3Y-2.76%
GM growth 5Y-8.73%
PAA Yearly Profit, Operating, Gross MarginsPAA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 -10

2

2. Health

2.1 Basic Checks

PAA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, PAA has more shares outstanding
The number of shares outstanding for PAA has been reduced compared to 5 years ago.
Compared to 1 year ago, PAA has a worse debt to assets ratio.
PAA Yearly Shares OutstandingPAA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
PAA Yearly Total Debt VS Total AssetsPAA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

PAA has a debt to FCF ratio of 4.12. This is a neutral value as PAA would need 4.12 years to pay back of all of its debts.
The Debt to FCF ratio of PAA (4.12) is better than 71.83% of its industry peers.
PAA has a Debt/Equity ratio of 0.74. This is a neutral value indicating PAA is somewhat dependend on debt financing.
The Debt to Equity ratio of PAA (0.74) is worse than 63.85% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 4.12
Altman-Z N/A
ROIC/WACC0.55
WACC10.14%
PAA Yearly LT Debt VS Equity VS FCFPAA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B 10B

2.3 Liquidity

A Current Ratio of 0.97 indicates that PAA may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.97, PAA is in line with its industry, outperforming 40.38% of the companies in the same industry.
A Quick Ratio of 0.88 indicates that PAA may have some problems paying its short term obligations.
PAA has a Quick ratio (0.88) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.97
Quick Ratio 0.88
PAA Yearly Current Assets VS Current LiabilitesPAA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

3

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 4.20% over the past year.
Measured over the past years, PAA shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -10.57% on average per year.
The Revenue has been growing slightly by 2.79% in the past year.
The Revenue has been growing by 8.26% on average over the past years. This is quite good.
EPS 1Y (TTM)4.2%
EPS 3Y7.66%
EPS 5Y-10.57%
EPS Q2Q%-4.88%
Revenue 1Y (TTM)2.79%
Revenue growth 3Y5.97%
Revenue growth 5Y8.26%
Sales Q2Q%0.13%

3.2 Future

PAA is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.67% yearly.
The Revenue is expected to decrease by -6.83% on average over the next years.
EPS Next Y-4.59%
EPS Next 2Y-2.44%
EPS Next 3Y0.82%
EPS Next 5Y5.67%
Revenue Next Year1.26%
Revenue Next 2Y6.37%
Revenue Next 3Y2.82%
Revenue Next 5Y-6.83%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
PAA Yearly Revenue VS EstimatesPAA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 10B 20B 30B 40B 50B
PAA Yearly EPS VS EstimatesPAA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 -1 2

5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 11.09, the valuation of PAA can be described as reasonable.
PAA's Price/Earnings ratio is a bit cheaper when compared to the industry. PAA is cheaper than 64.79% of the companies in the same industry.
When comparing the Price/Earnings ratio of PAA to the average of the S&P500 Index (25.91), we can say PAA is valued rather cheaply.
PAA is valuated reasonably with a Price/Forward Earnings ratio of 11.50.
Compared to the rest of the industry, the Price/Forward Earnings ratio of PAA is on the same level as its industry peers.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.85, PAA is valued a bit cheaper.
Industry RankSector Rank
PE 11.09
Fwd PE 11.5
PAA Price Earnings VS Forward Price EarningsPAA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

PAA's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, PAA is valued cheaper than 85.92% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.29
EV/EBITDA 8.02
PAA Per share dataPAA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-2.44%
EPS Next 3Y0.82%

5

5. Dividend

5.1 Amount

PAA has a Yearly Dividend Yield of 8.80%, which is a nice return.
Compared to an average industry Dividend Yield of 6.72, PAA pays a better dividend. On top of this PAA pays more dividend than 83.57% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, PAA pays a better dividend.
Industry RankSector Rank
Dividend Yield 8.8%

5.2 History

The dividend of PAA decreases each year by -0.28%.
PAA has paid a dividend for at least 10 years, which is a reliable track record.
PAA has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-0.28%
Div Incr Years3
Div Non Decr Years3
PAA Yearly Dividends per sharePAA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

222.76% of the earnings are spent on dividend by PAA. This is not a sustainable payout ratio.
DP222.76%
EPS Next 2Y-2.44%
EPS Next 3Y0.82%
PAA Yearly Income VS Free CF VS DividendPAA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B
PAA Dividend Payout.PAA Dividend Payout, showing the Payout Ratio.PAA Dividend Payout.PayoutRetained Earnings

PLAINS ALL AMER PIPELINE LP

NASDAQ:PAA (5/23/2025, 9:31:04 AM)

16.53

-0.09 (-0.54%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-09 2025-05-09/bmo
Earnings (Next)07-31 2025-07-31/bmo
Inst Owners42.6%
Inst Owner Change-5.29%
Ins Owners0.72%
Ins Owner Change0%
Market Cap11.63B
Analysts72.5
Price Target22.02 (33.21%)
Short Float %2.08%
Short Ratio2.38
Dividend
Industry RankSector Rank
Dividend Yield 8.8%
Yearly Dividend1.63
Dividend Growth(5Y)-0.28%
DP222.76%
Div Incr Years3
Div Non Decr Years3
Ex-Date05-01 2025-05-01 (0.38)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.97%
Min EPS beat(2)2.31%
Max EPS beat(2)19.64%
EPS beat(4)3
Avg EPS beat(4)6.18%
Min EPS beat(4)-1.66%
Max EPS beat(4)19.64%
EPS beat(8)7
Avg EPS beat(8)10.92%
EPS beat(12)9
Avg EPS beat(12)12.61%
EPS beat(16)12
Avg EPS beat(16)15.61%
Revenue beat(2)0
Avg Revenue beat(2)-7.19%
Min Revenue beat(2)-10.79%
Max Revenue beat(2)-3.59%
Revenue beat(4)0
Avg Revenue beat(4)-5.77%
Min Revenue beat(4)-10.79%
Max Revenue beat(4)-0.24%
Revenue beat(8)0
Avg Revenue beat(8)-12.21%
Revenue beat(12)2
Avg Revenue beat(12)-7.17%
Revenue beat(16)6
Avg Revenue beat(16)2.88%
PT rev (1m)-2.43%
PT rev (3m)2.06%
EPS NQ rev (1m)-1.81%
EPS NQ rev (3m)1.59%
EPS NY rev (1m)-4.83%
EPS NY rev (3m)-2.17%
Revenue NQ rev (1m)-1.99%
Revenue NQ rev (3m)0.05%
Revenue NY rev (1m)-6.91%
Revenue NY rev (3m)-4.43%
Valuation
Industry RankSector Rank
PE 11.09
Fwd PE 11.5
P/S 0.23
P/FCF 6.29
P/OCF 4.67
P/B 1.19
P/tB 1.43
EV/EBITDA 8.02
EPS(TTM)1.49
EY9.01%
EPS(NY)1.44
Fwd EY8.7%
FCF(TTM)2.63
FCFY15.9%
OCF(TTM)3.54
OCFY21.4%
SpS71.15
BVpS13.94
TBVpS11.56
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.94%
ROE 5.24%
ROCE 6.2%
ROIC 5.56%
ROICexc 5.66%
ROICexgc 6.14%
OM 2.68%
PM (TTM) 1.03%
GM 5.48%
FCFM 3.69%
ROA(3y)2.83%
ROA(5y)-0.31%
ROE(3y)7.62%
ROE(5y)-0.46%
ROIC(3y)5.79%
ROIC(5y)5.39%
ROICexc(3y)5.86%
ROICexc(5y)5.46%
ROICexgc(3y)6.43%
ROICexgc(5y)5.95%
ROCE(3y)6.45%
ROCE(5y)6.01%
ROICexcg growth 3Y-1.86%
ROICexcg growth 5Y-7.15%
ROICexc growth 3Y-1.48%
ROICexc growth 5Y-5.92%
OM growth 3Y-7.98%
OM growth 5Y-14.9%
PM growth 3Y3.2%
PM growth 5Y-29.38%
GM growth 3Y-2.76%
GM growth 5Y-8.73%
F-Score4
Asset Turnover1.89
Health
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 4.12
Debt/EBITDA 3.05
Cap/Depr 62.38%
Cap/Sales 1.28%
Interest Coverage 3.52
Cash Conversion 105.24%
Profit Quality 359.92%
Current Ratio 0.97
Quick Ratio 0.88
Altman-Z N/A
F-Score4
WACC10.14%
ROIC/WACC0.55
Cap/Depr(3y)57.92%
Cap/Depr(5y)66.47%
Cap/Sales(3y)1.14%
Cap/Sales(5y)1.49%
Profit Quality(3y)268.2%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)4.2%
EPS 3Y7.66%
EPS 5Y-10.57%
EPS Q2Q%-4.88%
EPS Next Y-4.59%
EPS Next 2Y-2.44%
EPS Next 3Y0.82%
EPS Next 5Y5.67%
Revenue 1Y (TTM)2.79%
Revenue growth 3Y5.97%
Revenue growth 5Y8.26%
Sales Q2Q%0.13%
Revenue Next Year1.26%
Revenue Next 2Y6.37%
Revenue Next 3Y2.82%
Revenue Next 5Y-6.83%
EBIT growth 1Y-1.33%
EBIT growth 3Y-2.49%
EBIT growth 5Y-7.87%
EBIT Next Year70.48%
EBIT Next 3Y20.51%
EBIT Next 5Y12.81%
FCF growth 1Y-13.75%
FCF growth 3Y3.68%
FCF growth 5Y8.17%
OCF growth 1Y-8.69%
OCF growth 3Y7.65%
OCF growth 5Y-0.11%