Plains All American Pipeline (PAA) Gross Margin (2009 - 2026)
Plains All American Pipeline (PAA) recorded quarterly Gross Margin of 7.83% in Q1 2026, down 16.73% quarter-over-quarter from 9.41% in Q4 2025, and down 53.0% on a YoY basis from 16.67% in Q1 2025.
Plains All American Pipeline (PAA) Gross Margin (2009 - 2026) Analysis & Trends
Plains All American Pipeline's Gross Margin history runs 18 years deep, the most recent figure standing at 7.83% for Q1 2026.
- In Q1 2026, Gross Margin fell 53.0% year-over-year to 7.83%; the TTM figure through Mar 2026 stood at 8.5% (up 80.0% YoY), while the FY2025 annual figure was 8.65%, up 103.0% from the prior year.
- Gross Margin was 7.83% for Q1 2026 at Plains All American Pipeline, down from 9.41% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 9.41% in Q4 2025 to a low of 3.15% in Q4 2023.
- Historically, Gross Margin has averaged 7.58% across 5 years, with a median of 7.97% in 2024.
- The sharpest annual moves came in 2022 and 2024: Gross Margin tumbled 518 bps in 2022, then jumped 482 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 7.39% in 2022, then tumbled by 57 bps to 3.15% in 2023, then jumped by 153 bps to 7.97% in 2024, then increased by 18 bps to 9.41% in 2025, then fell by 17 bps to 7.83% in 2026.
- The last three Gross Margin figures came in at 7.83% (Q1 2026), 9.41% (Q4 2025), and 8.58% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 88.33 Bn | 89.03 Bn | 6.70 Bn | 41.12% |
| 2 | Enterprise Products Partners | 80.83 Bn | 79.68 Bn | - | - |
| 3 | Kinder Morgan | 69.66 Bn | 70.75 Bn | 3.08 Bn | 63.77% |
| 4 | Energy Transfer | 65.60 Bn | 64.88 Bn | 6.62 Bn | 23.85% |
| 5 | Scorpio Tankers | 59.17 Bn | 58.19 Bn | - | - |
| 6 | Mplx | 57.43 Bn | 55.92 Bn | 2.54 Bn | 83.61% |
| 7 | Targa Resources | 56.68 Bn | 56.71 Bn | 1.70 Bn | 41.52% |
| 8 | Oneok | 55.34 Bn | 55.21 Bn | 2.57 Bn | 26.67% |
| 9 | Tc Energy | 50.79 Bn | 51.99 Bn | 2.95 Bn | 98.68% |
| 10 | Plains All American Pipeline | 15.89 Bn | 15.72 Bn | 977.00 Mn | 7.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 6.58% |