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 2024-04-26 pm EDT 		5-day change 1st Jan Change
17.87 USD -1.11% Intraday chart for Plains All American Pipeline, L.P. -0.39% +17.95%
Apr. 16 Stifel Adjusts Price Target on Plains All American Pipeline to $22 From $18, Maintains Buy Rating MT
Apr. 12 Goldman Sachs Adjusts Price Target on Plains All American Pipeline to $16 From $14.50, Keeps Sell 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 12,528 - -
Enterprise Value (EV) 1 23,034 16,194 15,413 16,257 17,921 20,240 19,749 18,900
P/E ratio 6.94 x -2.15 x 17 x 9.88 x 10.8 x 11.6 x 11.2 x 13.3 x
Yield 7.5% 8.74% 7.71% 7.82% 7.39% 7.23% 8.19% 8.89%
Capitalization / Revenue 0.4 x 0.26 x 0.16 x 0.14 x 0.22 x 0.24 x 0.23 x 0.23 x
EV / Revenue 0.68 x 0.7 x 0.37 x 0.28 x 0.37 x 0.39 x 0.37 x 0.35 x
EV / EBITDA 7.12 x 6.33 x 6.73 x 6.48 x 6.61 x 7.54 x 7.27 x 7.06 x
EV / FCF 17.4 x 20.9 x 9.28 x 10.1 x 9.97 x 13 x 13.4 x 13.2 x
FCF Yield 5.74% 4.79% 10.8% 9.9% 10% 7.7% 7.46% 7.6%
Price to Book 1.02 x 0.63 x 0.66 x 0.82 x 1.02 x 1.53 x 1.52 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 17.87 17.87 17.87
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 51,985 53,964 54,650
EBITDA 1 3,237 2,560 2,290 2,510 2,711 2,684 2,716 2,679
EBIT 1 1,988 -2,375 851 1,292 1,510 1,661 1,698 1,791
Operating Margin 5.9% -10.2% 2.02% 2.25% 3.1% 3.2% 3.15% 3.28%
Earnings before Tax (EBT) 1 2,246 -2,599 721 1,417 1,623 1,607 1,640 1,437
Net income 1 1,967 -2,790 393 831 976 965.1 1,025 931
Net margin 5.84% -11.98% 0.93% 1.45% 2% 1.86% 1.9% 1.7%
EPS 2 2.650 -3.830 0.5500 1.190 1.400 1.540 1.592 1.340
Free Cash Flow 1 1,323 776 1,660 1,610 1,798 1,558 1,474 1,437
FCF margin 3.93% 3.33% 3.95% 2.81% 3.69% 3% 2.73% 2.63%
FCF Conversion (EBITDA) 40.87% 30.31% 72.49% 64.14% 66.32% 58.05% 54.27% 53.64%
FCF Conversion (Net income) 67.26% - 422.39% 193.74% 184.22% 161.42% 143.84% 154.35%
Dividend per Share 2 1.380 0.7200 0.7200 0.9200 1.120 1.292 1.463 1.588
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 Q3 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
Net sales 1 10,776 12,954 13,694 16,359 14,336 12,952 12,341 11,602 12,071 12,698 12,788 12,593 13,075 13,545 13,241
EBITDA 1 519 646 690 615 623 659 715 597 662 737 695.8 622.7 648.2 723 733.6
EBIT 1 -38 600 293 411 626 -37 473 378 234 426 433.1 360.6 385.8 470.9 470.1
Operating Margin -0.35% 4.63% 2.14% 2.51% 4.37% -0.29% 3.83% 3.26% 1.94% 3.35% 3.39% 2.86% 2.95% 3.48% 3.55%
Earnings before Tax (EBT) 1 -85 585 246 298 551 322 528 392 265 438 437.6 360.1 362.7 494.4 470.2
Net income 1 -109 398 187 153 333 210 422 227 140 248 268.3 205.3 240.2 288.7 284.7
Net margin -1.01% 3.07% 1.37% 0.94% 2.32% 1.62% 3.42% 1.96% 1.16% 1.95% 2.1% 1.63% 1.84% 2.13% 2.15%
EPS 2 -0.1500 0.5600 0.1900 0.2200 0.4800 0.3000 0.5200 0.3200 0.2000 0.3500 0.4578 0.3472 0.3916 0.4803 0.5498
Dividend per Share 2 0.1800 0.1800 0.2175 0.2175 0.2175 0.2675 0.2675 0.2675 0.2675 0.3175 0.3187 0.3187 0.3187 0.3475 0.3550
Announcement Date 11/2/21 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 - - - - -
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 7,712 7,221 6,372
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.98 x 3.981 x 3.83 x 3.205 x 2.693 x 2.874 x 2.658 x 2.378 x
Free Cash Flow 1 1,323 776 1,660 1,610 1,798 1,558 1,474 1,437
ROE (net income / shareholders' equity) 15.7% -24.6% 6.98% 10.9% 12.2% 10.5% 12.2% 12.1%
ROA (Net income/ Total Assets) 7.26% -10.5% 2.57% 3.86% 3.53% 2.5% 2.7% 3.1%
Assets 1 27,094 26,587 15,279 21,518 27,624 38,604 37,955 30,032
Book Value Per Share 2 17.90 13.20 14.10 14.40 14.90 11.70 11.70 -
Cash Flow per Share 2 3.130 2.080 2.790 3.440 3.900 3.540 3.480 -
Capex 1 1,779 1,213 463 539 630 618 576 623
Capex / Sales 5.28% 5.21% 1.1% 0.94% 1.29% 1.19% 1.07% 1.14%
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
23
Last Close Price
17.87 USD
Average target price
18.82 USD
Spread / Average Target
+5.34%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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