Plains All American Pipeline (PAA) Gross Margin (2009 - 2026)
Plains All American Pipeline (PAA) posted quarterly Gross Margin of 7.83% for Q1 2026, down 53.0% year-over-year from 16.67% in Q1 2025, and down 16.73% quarter-over-quarter from 9.41% in Q4 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 for Q1 2026 stood at 7.83%, down from 9.41% 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.
- The 5-year median for Gross Margin is 7.97% (2024), against an average of 7.58%.
- The sharpest annual moves came in 2022 and 2024: Gross Margin slumped 518 bps in 2022, then soared 482 bps in 2024.
- Plains All American Pipeline's Gross Margin stood at 7.39% in 2022, then slumped by 57 bps to 3.15% in 2023, then soared by 153 bps to 7.97% in 2024, then grew by 18 bps to 9.41% in 2025, then declined by 17 bps to 7.83% in 2026.
- Business Quant data shows PAA's Gross Margin at 7.83% in Q1 2026, 9.41% in Q4 2025, and 8.58% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 68.62% |
| 2 | Enbridge | 110.90 Bn | 109.41 Bn | 5.23 Bn | 24.69% |
| 3 | Enterprise Products Partners | 83.47 Bn | 82.57 Bn | - | - |
| 4 | Energy Transfer | 72.69 Bn | 71.66 Bn | 7.40 Bn | 21.55% |
| 5 | Tc Energy | 65.95 Bn | 58.39 Bn | 1.24 Bn | 95.91% |
| 6 | Oneok | 60.15 Bn | 59.99 Bn | 2.81 Bn | 23.30% |
| 7 | Mplx | 59.97 Bn | 58.94 Bn | 2.73 Bn | 82.28% |
| 8 | Targa Resources | 59.51 Bn | 59.37 Bn | 2.14 Bn | 48.15% |
| 9 | Cheniere Energy | 56.09 Bn | 54.84 Bn | 5.29 Bn | 92.34% |
| 10 | Plains All American Pipeline | 16.81 Bn | 15.75 Bn | 1.14 Bn | 6.43% |
Historic Data
Download 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% |