Stock PAA PLAINS ALL AMERICAN PIPELINE, L.P.
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Financials Plains All American Pipeline, L.P.

Equities

PAA

US7265031051

Oil & Gas Transportation Services

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-05-31 pm EDT 		5-day change 1st Jan Change
17.01 USD +0.59% Intraday chart for Plains All American Pipeline, L.P. -0.23% +12.28%
May. 14 RBC Adjusts Price Target on Plains All American Pipeline to $18 From $17, Maintains Sector Perform Rating MT
May. 13 UBS Adjusts Plains All American Pipeline Price Target to $21 From $22, Maintains Buy Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,388 6,003 6,642 8,212 10,620 11,925 - -
Enterprise Value (EV) 1 23,034 16,194 15,413 16,257 17,921 19,891 19,232 19,185
P/E ratio 6.94 x -2.15 x 17 x 9.88 x 10.8 x 11.4 x 10.6 x 12.4 x
Yield 7.5% 8.74% 7.71% 7.82% 7.39% 7.6% 8.6% 9.36%
Capitalization / Revenue 0.4 x 0.26 x 0.16 x 0.14 x 0.22 x 0.24 x 0.22 x 0.21 x
EV / Revenue 0.68 x 0.7 x 0.37 x 0.28 x 0.37 x 0.39 x 0.35 x 0.34 x
EV / EBITDA 7.12 x 6.33 x 6.73 x 6.48 x 6.61 x 7.31 x 7.01 x 7.01 x
EV / FCF 17.4 x 20.9 x 9.28 x 10.1 x 9.97 x 16.1 x 13.1 x 13.4 x
FCF Yield 5.74% 4.79% 10.8% 9.9% 10% 6.22% 7.63% 7.48%
Price to Book 1.02 x 0.63 x 0.66 x 0.82 x 1.02 x 1.46 x 1.43 x 1.41 x
Nbr of stocks (in thousands) 728,029 728,477 711,122 698,333 700,993 701,071 - -
Reference price 2 18.39 8.240 9.340 11.76 15.15 17.01 17.01 17.01
Announcement Date 2/4/20 2/9/21 2/9/22 2/8/23 2/9/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 33,669 23,290 42,043 57,342 48,712 50,517 54,233 56,232
EBITDA 1 3,237 2,560 2,290 2,510 2,711 2,723 2,742 2,738
EBIT 1 1,988 -2,375 851 1,292 1,510 1,682 1,736 1,703
Operating Margin 5.9% -10.2% 2.02% 2.25% 3.1% 3.33% 3.2% 3.03%
Earnings before Tax (EBT) 1 2,246 -2,599 721 1,417 1,623 1,595 1,714 1,568
Net income 1 1,967 -2,790 393 831 976 997.5 1,051 921.9
Net margin 5.84% -11.98% 0.93% 1.45% 2% 1.97% 1.94% 1.64%
EPS 2 2.650 -3.830 0.5500 1.190 1.400 1.498 1.600 1.370
Free Cash Flow 1 1,323 776 1,660 1,610 1,798 1,237 1,467 1,436
FCF margin 3.93% 3.33% 3.95% 2.81% 3.69% 2.45% 2.71% 2.55%
FCF Conversion (EBITDA) 40.87% 30.31% 72.49% 64.14% 66.32% 45.42% 53.5% 52.44%
FCF Conversion (Net income) 67.26% - 422.39% 193.74% 184.22% 123.98% 139.61% 155.73%
Dividend per Share 2 1.380 0.7200 0.7200 0.9200 1.120 1.293 1.463 1.592
Announcement Date 2/4/20 2/9/21 2/9/22 2/8/23 2/9/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 12,954 13,694 16,359 14,336 12,952 12,341 11,602 12,071 12,698 11,995 12,347 12,816 13,317 13,175 13,037
EBITDA 1 646 690 615 623 659 715 597 662 737 718 633.3 651.7 713.7 716.3 645.2
EBIT 1 600 293 411 626 -37 473 378 234 426 370 367 391.7 469.4 475.3 403.2
Operating Margin 4.63% 2.14% 2.51% 4.37% -0.29% 3.83% 3.26% 1.94% 3.35% 3.08% 2.97% 3.06% 3.52% 3.61% 3.09%
Earnings before Tax (EBT) 1 585 246 298 551 322 528 392 265 438 365 353 391 572 507.8 409.2
Net income 1 398 187 153 333 210 422 227 140 248 266 190 272.1 339.2 343.3 267.7
Net margin 3.07% 1.37% 0.94% 2.32% 1.62% 3.42% 1.96% 1.16% 1.95% 2.22% 1.54% 2.12% 2.55% 2.61% 2.05%
EPS 2 0.5600 0.1900 0.2200 0.4800 0.3000 0.5200 0.3200 0.2000 0.3500 0.2900 0.3563 0.4010 0.4801 0.5363 0.3862
Dividend per Share 2 0.1800 0.2175 0.2175 0.2175 0.2675 0.2675 0.2675 0.2675 0.3175 - 0.3184 0.3184 0.3460 0.3559 0.3550
Announcement Date 2/9/22 5/4/22 8/3/22 11/2/22 2/8/23 5/5/23 8/4/23 11/3/23 2/9/24 5/3/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 9,646 10,191 8,771 8,045 7,301 7,966 7,306 7,260
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.98 x 3.981 x 3.83 x 3.205 x 2.693 x 2.926 x 2.664 x 2.652 x
Free Cash Flow 1 1,323 776 1,660 1,610 1,798 1,237 1,467 1,436
ROE (net income / shareholders' equity) 15.7% -24.6% 6.98% 10.9% 12.2% 10.8% 12.7% 13.4%
ROA (Net income/ Total Assets) 7.26% -10.5% 2.57% 3.86% 3.53% 2.8% 2.7% 2.7%
Assets 1 27,094 26,587 15,279 21,518 27,624 35,625 38,923 34,145
Book Value Per Share 2 17.90 13.20 14.10 14.40 14.90 11.70 11.90 12.00
Cash Flow per Share 2 3.130 2.080 2.790 3.440 3.900 3.190 3.570 -
Capex 1 1,779 1,213 463 539 630 659 591 592
Capex / Sales 5.28% 5.21% 1.1% 0.94% 1.29% 1.3% 1.09% 1.05%
Announcement Date 2/4/20 2/9/21 2/9/22 2/8/23 2/9/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Plains All American Pipeline, L.P.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
17.01 USD
Average target price
19.54 USD
Spread / Average Target
+14.86%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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