Plains All American Pipeline (PAA) Net Margin (2009 - 2026)
Plains All American Pipeline's Net Margin came in at -0.27% for Q3 2026, down 3.61 percentage points from 3.34% a year earlier and down 10.27 percentage points from the prior quarter.
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Analysis
Plains All American Pipeline (PAA) Net Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Plains All American Pipeline reported Net Margin of 3.79%, up 1.92 percentage points year-over-year; for FY2025, it was 2.64%, up 1.59 percentage points from FY2024.
- Net Margin carries a five-year change of +14.62 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was 1.05% in FY2024 (-1.01 pp), 2.06% in FY2023 (+0.61 pp), 1.45% in FY2022 (+0.52 pp) and 0.93% in FY2021 (+12.91 pp).
- The Q3 2026 figure represents the lowest quarterly Net Margin since Q3 2021.
- Year-over-year, Net Margin increased in four of the last eight quarters, with an average year-over-year change of +0.83 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q2 2026 (a gain of 8.59 percentage points), and the weakest in Q3 2026 (a drop of 3.61 percentage points).
- Business Quant data shows PAA's Net Margin at 10.00% (Q2 2026), 0.80% (Q1 2026) and 2.74% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 6.11% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 21.69% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 9.05% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 16.82% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 3.07% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 11.76% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 18.95% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 32.29% |
| 10 | Plains All American Pipeline | 17.30 Bn | 18.05 Bn | 1.14 Bn | -0.27% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -0.27% |
| Jun 30, 2026 | 10.00% |
| Mar 31, 2026 | 0.80% |
| Dec 31, 2025 | 2.74% |
| Sep 30, 2025 | 3.34% |
| Jun 30, 2025 | 1.41% |
| Mar 31, 2025 | 2.99% |
| Dec 31, 2024 | -0.22% |
| Sep 30, 2024 | 1.26% |
| Jun 30, 2024 | 1.41% |
| Mar 31, 2024 | 1.74% |
| Dec 31, 2023 | 2.19% |
| Sep 30, 2023 | 1.16% |
| Jun 30, 2023 | 1.96% |
| Mar 31, 2023 | 2.93% |
| Dec 31, 2022 | 1.62% |
| Sep 30, 2022 | 2.32% |
| Jun 30, 2022 | 0.94% |
| Mar 31, 2022 | 1.00% |
| Dec 31, 2021 | 3.08% |
API Access
Plains All American Pipeline Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=PAA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "PAA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=PAA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();