Plains All American Pipeline (PAA) Gross Margin (2009 - 2026)
Plains All American Pipeline (PAA) posted Gross Margin of 6.43% for Q2 2026, down 17.98% on a QoQ basis from 7.83% in Q1 2026, and down 188.0% year-over-year from 7.3% in Q2 2025.
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Plains All American Pipeline (PAA) Gross Margin (2009 - 2026) Analysis & Trends
Plains All American Pipeline has reported Gross Margin for 18 years, with the latest figure at 6.43% in Q2 2026.
- On a quarterly basis, Gross Margin fell 188.0% year-over-year to 6.43% in Q2 2026; TTM through Jun 2026 was 7.84%, a 14.0% decrease from a year earlier, with the FY2025 full-year figure at 8.65%, up 103.0% from the prior year.
- Gross Margin was 6.43% for Q2 2026 at Plains All American Pipeline, down from 7.83% in the prior quarter.
- The five-year high for Gross Margin was 9.41% in Q4 2025, with the low at 3.15% in Q4 2023.
- Average Gross Margin over 5 years is 7.52%, with a median of 7.9% recorded in 2024.
- The sharpest annual moves came in 2022 and 2024: Gross Margin slumped 518 bps in 2022, then surged 482 bps in 2024.
- Over 5 years, Gross Margin stood at 7.39% in 2022, then slumped by 57 bps to 3.15% in 2023, then surged by 153 bps to 7.97% in 2024, then rose by 18 bps to 9.41% in 2025, then sank by 32 bps to 6.43% in 2026.
- The last three Gross Margin figures came in at 6.43% (Q2 2026), 7.83% (Q1 2026), and 9.41% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 111.69 Bn | 112.81 Bn | 3.07 Bn | 68.62% |
| 2 | Enterprise Products Partners | 84.07 Bn | 83.21 Bn | - | - |
| 3 | Energy Transfer | 74.03 Bn | 73.00 Bn | 7.40 Bn | 21.55% |
| 4 | Tc Energy | 65.16 Bn | 64.62 Bn | 1.80 Bn | 62.88% |
| 5 | Targa Resources | 62.18 Bn | 62.19 Bn | 2.14 Bn | 48.15% |
| 6 | Mplx | 60.51 Bn | 59.48 Bn | 2.73 Bn | 82.28% |
| 7 | Oneok | 60.16 Bn | 60.09 Bn | 2.81 Bn | 23.30% |
| 8 | Enbridge | 54.38 Bn | 54.88 Bn | 5.23 Bn | 24.69% |
| 9 | Pembina Pipeline | 28.12 Bn | 27.76 Bn | 933.00 Mn | 43.36% |
| 10 | Plains All American Pipeline | 18.13 Bn | 17.07 Bn | 1.14 Bn | 6.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 6.43% |
| Mar 31, 2026 | 7.83% |
| Dec 31, 2025 | 9.41% |
| Sep 30, 2025 | 8.58% |
| Jun 30, 2025 | 8.31% |
| Mar 31, 2025 | 8.36% |
| Dec 31, 2024 | 7.97% |
| Sep 30, 2024 | 7.35% |
| Jun 30, 2024 | 7.20% |
| Mar 31, 2024 | 6.20% |
| Dec 31, 2023 | 3.15% |
| Sep 30, 2023 | 7.99% |
| Jun 30, 2023 | 9.12% |
| Mar 31, 2023 | 8.25% |
| Dec 31, 2022 | 7.39% |
| Sep 30, 2022 | 8.82% |
| Jun 30, 2022 | 6.33% |
| Mar 31, 2022 | 6.64% |
| Dec 31, 2021 | 9.45% |
| Sep 30, 2021 | 6.51% |