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PLAINS GP HOLDINGS LP-CL A (PAGP) Stock Fundamental Analysis

NASDAQ:PAGP - Nasdaq - US72651A2078 - Currency: USD

19.2  +0.21 (+1.11%)

After market: 19.3499 +0.15 (+0.78%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to PAGP. PAGP was compared to 213 industry peers in the Oil, Gas & Consumable Fuels industry. PAGP may be in some trouble as it scores bad on both profitability and health. PAGP has a correct valuation and a medium growth rate. Finally PAGP also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

PAGP had positive earnings in the past year.
PAGP had a positive operating cash flow in the past year.
PAGP had positive earnings in 4 of the past 5 years.
Each year in the past 5 years PAGP had a positive operating cash flow.
PAGP Yearly Net Income VS EBIT VS OCF VS FCFPAGP 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 2B

1.2 Ratios

PAGP has a worse Return On Assets (0.51%) than 64.79% of its industry peers.
With a decent Return On Equity value of 10.69%, PAGP is doing good in the industry, outperforming 63.38% of the companies in the same industry.
With a Return On Invested Capital value of 5.43%, PAGP perfoms like the industry average, outperforming 45.54% of the companies in the same industry.
PAGP had an Average Return On Invested Capital over the past 3 years of 5.23%. This is significantly below the industry average of 23.55%.
The last Return On Invested Capital (5.43%) for PAGP is above the 3 year average (5.23%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.51%
ROE 10.69%
ROIC 5.43%
ROA(3y)0.55%
ROA(5y)-0.07%
ROE(3y)10.48%
ROE(5y)-0.69%
ROIC(3y)5.23%
ROIC(5y)4.87%
PAGP Yearly ROA, ROE, ROICPAGP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40

1.3 Margins

PAGP's Profit Margin of 0.29% is on the low side compared to the rest of the industry. PAGP is outperformed by 67.14% of its industry peers.
PAGP's Profit Margin has declined in the last couple of years.
PAGP has a worse Operating Margin (2.96%) than 70.89% of its industry peers.
PAGP's Operating Margin has declined in the last couple of years.
The Gross Margin of PAGP (9.36%) is worse than 72.30% of its industry peers.
In the last couple of years the Gross Margin of PAGP has declined.
Industry RankSector Rank
OM 2.96%
PM (TTM) 0.29%
GM 9.36%
OM growth 3Y-8.29%
OM growth 5Y-14.79%
PM growth 3Y12.99%
PM growth 5Y-26.86%
GM growth 3Y2%
GM growth 5Y-6.37%
PAGP Yearly Profit, Operating, Gross MarginsPAGP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so PAGP is destroying value.
Compared to 1 year ago, PAGP has more shares outstanding
Compared to 5 years ago, PAGP has less shares outstanding
PAGP has a worse debt/assets ratio than last year.
PAGP Yearly Shares OutstandingPAGP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
PAGP Yearly Total Debt VS Total AssetsPAGP 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

The Debt to FCF ratio of PAGP is 4.23, which is a neutral value as it means it would take PAGP, 4.23 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of PAGP (4.23) is better than 69.01% of its industry peers.
PAGP has a Debt/Equity ratio of 6.05. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 6.05, PAGP is not doing good in the industry: 90.14% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 6.05
Debt/FCF 4.23
Altman-Z N/A
ROIC/WACC0.68
WACC7.93%
PAGP Yearly LT Debt VS Equity VS FCFPAGP 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 1.01 indicates that PAGP should not have too much problems paying its short term obligations.
PAGP has a Current ratio (1.01) which is comparable to the rest of the industry.
A Quick Ratio of 0.94 indicates that PAGP may have some problems paying its short term obligations.
PAGP has a Quick ratio (0.94) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.01
Quick Ratio 0.94
PAGP Yearly Current Assets VS Current LiabilitesPAGP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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4

3. Growth

3.1 Past

The earnings per share for PAGP have decreased strongly by -51.63% in the last year.
The earnings per share for PAGP have been decreasing by -23.92% on average. This is quite bad
PAGP shows a small growth in Revenue. In the last year, the Revenue has grown by 3.56%.
PAGP shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.26% yearly.
EPS 1Y (TTM)-51.63%
EPS 3Y18.32%
EPS 5Y-23.92%
EPS Q2Q%100%
Revenue 1Y (TTM)3.56%
Revenue growth 3Y5.97%
Revenue growth 5Y8.26%
Sales Q2Q%0.13%

3.2 Future

PAGP is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 29.74% yearly.
Based on estimates for the next years, PAGP will show a decrease in Revenue. The Revenue will decrease by -5.80% on average per year.
EPS Next Y218.89%
EPS Next 2Y78.57%
EPS Next 3Y50.14%
EPS Next 5Y29.74%
Revenue Next Year-17.42%
Revenue Next 2Y3.51%
Revenue Next 3Y2.88%
Revenue Next 5Y-5.8%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
PAGP Yearly Revenue VS EstimatesPAGP 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
PAGP Yearly EPS VS EstimatesPAGP 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 -2 -3

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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 25.95, PAGP can be considered very expensive at the moment.
The rest of the industry has a similar Price/Earnings ratio as PAGP.
PAGP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.32, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 11.36, the valuation of PAGP can be described as very reasonable.
Based on the Price/Forward Earnings ratio, PAGP is valued a bit cheaper than 61.50% of the companies in the same industry.
PAGP's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.13.
Industry RankSector Rank
PE 25.95
Fwd PE 11.36
PAGP Price Earnings VS Forward Price EarningsPAGP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PAGP indicates a somewhat cheap valuation: PAGP is cheaper than 74.18% of the companies listed in the same industry.
98.59% of the companies in the same industry are more expensive than PAGP, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 1.85
EV/EBITDA 4.78
PAGP Per share dataPAGP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 50 100 150 200 250

4.3 Compensation for Growth

PAGP's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as PAGP's earnings are expected to grow with 50.14% in the coming years.
PEG (NY)0.12
PEG (5Y)N/A
EPS Next 2Y78.57%
EPS Next 3Y50.14%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 8.00%, PAGP is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.56, PAGP pays a better dividend. On top of this PAGP pays more dividend than 81.69% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, PAGP pays a better dividend.
Industry RankSector Rank
Dividend Yield 8%

5.2 History

The dividend of PAGP has a limited annual growth rate of 2.27%.
PAGP has been paying a dividend for at least 10 years, so it has a reliable track record.
PAGP has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)2.27%
Div Incr Years3
Div Non Decr Years3
PAGP Yearly Dividends per sharePAGP Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6

5.3 Sustainability

181.38% of the earnings are spent on dividend by PAGP. This is not a sustainable payout ratio.
The dividend of PAGP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP181.38%
EPS Next 2Y78.57%
EPS Next 3Y50.14%
PAGP Yearly Income VS Free CF VS DividendPAGP 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 2B
PAGP Dividend Payout.PAGP Dividend Payout, showing the Payout Ratio.PAGP Dividend Payout.PayoutRetained Earnings

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PLAINS GP HOLDINGS LP-CL A

NASDAQ:PAGP (6/13/2025, 8:00:02 PM)

After market: 19.3499 +0.15 (+0.78%)

19.2

+0.21 (+1.11%)

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 Owners83.96%
Inst Owner Change6.22%
Ins Owners2.67%
Ins Owner Change0%
Market Cap3.80B
Analysts75.79
Price Target21.51 (12.03%)
Short Float %4.22%
Short Ratio4.53
Dividend
Industry RankSector Rank
Dividend Yield 8%
Yearly Dividend0.32
Dividend Growth(5Y)2.27%
DP181.38%
Div Incr Years3
Div Non Decr Years3
Ex-Date05-01 2025-05-01 (0.38)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-64.33%
Min EPS beat(2)-115.08%
Max EPS beat(2)-13.57%
EPS beat(4)0
Avg EPS beat(4)-50.81%
Min EPS beat(4)-115.08%
Max EPS beat(4)-13.57%
EPS beat(8)1
Avg EPS beat(8)10.05%
EPS beat(12)2
Avg EPS beat(12)11.78%
EPS beat(16)4
Avg EPS beat(16)-4.59%
Revenue beat(2)0
Avg Revenue beat(2)-16.94%
Min Revenue beat(2)-17.15%
Max Revenue beat(2)-16.72%
Revenue beat(4)1
Avg Revenue beat(4)-9.1%
Min Revenue beat(4)-17.15%
Max Revenue beat(4)2.18%
Revenue beat(8)2
Avg Revenue beat(8)-7.08%
Revenue beat(12)3
Avg Revenue beat(12)-5.7%
Revenue beat(16)7
Avg Revenue beat(16)2.59%
PT rev (1m)-4.17%
PT rev (3m)-4.17%
EPS NQ rev (1m)-6.5%
EPS NQ rev (3m)-11.8%
EPS NY rev (1m)0%
EPS NY rev (3m)-5.61%
Revenue NQ rev (1m)-6.27%
Revenue NQ rev (3m)-6.24%
Revenue NY rev (1m)-13.66%
Revenue NY rev (3m)-27.69%
Valuation
Industry RankSector Rank
PE 25.95
Fwd PE 11.36
P/S 0.08
P/FCF 1.85
P/OCF 1.4
P/B 2.8
P/tB N/A
EV/EBITDA 4.78
EPS(TTM)0.74
EY3.85%
EPS(NY)1.69
Fwd EY8.8%
FCF(TTM)10.37
FCFY54.02%
OCF(TTM)13.67
OCFY71.22%
SpS253.31
BVpS6.86
TBVpS-1.61
PEG (NY)0.12
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.51%
ROE 10.69%
ROCE 6.3%
ROIC 5.43%
ROICexc 5.53%
ROICexgc 5.96%
OM 2.96%
PM (TTM) 0.29%
GM 9.36%
FCFM 4.09%
ROA(3y)0.55%
ROA(5y)-0.07%
ROE(3y)10.48%
ROE(5y)-0.69%
ROIC(3y)5.23%
ROIC(5y)4.87%
ROICexc(3y)5.29%
ROICexc(5y)4.92%
ROICexgc(3y)5.77%
ROICexgc(5y)5.34%
ROCE(3y)6.07%
ROCE(5y)5.65%
ROICexcg growth 3Y-2%
ROICexcg growth 5Y-7.01%
ROICexc growth 3Y-1.66%
ROICexc growth 5Y-5.85%
OM growth 3Y-8.29%
OM growth 5Y-14.79%
PM growth 3Y12.99%
PM growth 5Y-26.86%
GM growth 3Y2%
GM growth 5Y-6.37%
F-Score6
Asset Turnover1.77
Health
Industry RankSector Rank
Debt/Equity 6.05
Debt/FCF 4.23
Debt/EBITDA 3.26
Cap/Depr 63.15%
Cap/Sales 1.3%
Interest Coverage 3.94
Cash Conversion 107.34%
Profit Quality 1414.48%
Current Ratio 1.01
Quick Ratio 0.94
Altman-Z N/A
F-Score6
WACC7.93%
ROIC/WACC0.68
Cap/Depr(3y)53.51%
Cap/Depr(5y)63.68%
Cap/Sales(3y)1.06%
Cap/Sales(5y)1.44%
Profit Quality(3y)1354.41%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-51.63%
EPS 3Y18.32%
EPS 5Y-23.92%
EPS Q2Q%100%
EPS Next Y218.89%
EPS Next 2Y78.57%
EPS Next 3Y50.14%
EPS Next 5Y29.74%
Revenue 1Y (TTM)3.56%
Revenue growth 3Y5.97%
Revenue growth 5Y8.26%
Sales Q2Q%0.13%
Revenue Next Year-17.42%
Revenue Next 2Y3.51%
Revenue Next 3Y2.88%
Revenue Next 5Y-5.8%
EBIT growth 1Y6%
EBIT growth 3Y-2.81%
EBIT growth 5Y-7.75%
EBIT Next Year70.9%
EBIT Next 3Y20.01%
EBIT Next 5Y12.87%
FCF growth 1Y-12.01%
FCF growth 3Y4.06%
FCF growth 5Y8.42%
OCF growth 1Y-3.67%
OCF growth 3Y7.65%
OCF growth 5Y-0.13%