Plains All American Pipeline (PAA) Net Margin (2009 - 2026)
Plains All American Pipeline (PAA) posted Net Margin of 0.83% for Q1 2026, down 185.55% on a QoQ basis from 0.97% in Q4 2025, and down 201.0% year-on-year from 0.82% in Q1 2025.
Plains All American Pipeline (PAA) Net Margin (2009 - 2026) Analysis & Trends
Plains All American Pipeline has disclosed Net Margin across 18 years of filings, most recently posting 0.83% for Q1 2026.
- Net Margin for Q1 2026 came in at 0.83%, down 201.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 0.32% (down 41.0% YoY), and the FY2025 annual result was 0.87%, up 39.0% from the prior year.
- Net Margin came in at 0.83% for Q1 2026 at Plains All American Pipeline, down from 0.97% in the prior quarter.
- Over the last five years, Net Margin for PAA reached as high as 3.85% in Q1 2023 and fell as low as 0.83% in Q1 2026.
- Median Net Margin over the past 5 years was 1.18% (2025), compared with a mean of 1.54%.
- Year-over-year, Net Margin soared 462 bps in 2022 and sank 376 bps in 2024.
- Over 5 years, Net Margin stood at 3.2% in 2022, then plunged by 37 bps to 2.02% in 2023, then sank by 70 bps to 0.61% in 2024, then soared by 57 bps to 0.97% in 2025, then slumped by 186 bps to 0.83% in 2026.
- Per Business Quant, the three latest PAA Net Margin figures stand at 0.83% (Q1 2026), 0.97% (Q4 2025), and 0.66% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 7.47% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 20.73% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 10.39% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 4.30% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 11.71% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 30.35% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 8.07% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 5.08% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 10.61% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | -0.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -0.83% |
| Dec 31, 2025 | 0.97% |
| Sep 30, 2025 | 0.66% |
| Jun 30, 2025 | 0.66% |
| Mar 31, 2025 | 1.18% |
| Dec 31, 2024 | 0.61% |
| Sep 30, 2024 | 0.92% |
| Jun 30, 2024 | 0.25% |
| Mar 31, 2024 | 0.09% |
| Dec 31, 2023 | 2.02% |
| Sep 30, 2023 | 2.31% |
| Jun 30, 2023 | 3.21% |
| Mar 31, 2023 | 3.85% |
| Dec 31, 2022 | 3.20% |
| Sep 30, 2022 | 3.76% |
| Jun 30, 2022 | 1.64% |
| Mar 31, 2022 | 1.66% |
| Dec 31, 2021 | 4.03% |
| Sep 30, 2021 | -0.86% |
| Jun 30, 2021 | -2.18% |