Plains All American Pipeline (PAAPU) Operating Expenses (2009 - 2026)
Plains All American Pipeline (PAAPU) posted Operating Expenses of $301.0 million for Q1 2026, up 100.96% on a QoQ basis from -$31.5 billion in Q4 2025, and down 97.29% year-on-year from $11.1 billion in Q1 2025.
Plains All American Pipeline (PAAPU) Operating Expenses (2009 - 2026) Analysis & Trends
Plains All American Pipeline has disclosed Operating Expenses across 18 years of filings, most recently posting $301.0 million for Q1 2026.
- Operating Expenses for Q1 2026 came in at $301.0 million, down 97.29% year-over-year; the trailing twelve-month figure through Mar 2026 was -$9.7 billion (up 8.34% YoY), and the FY2025 annual result was $1.2 billion, down 21.55% from the prior year.
- Operating Expenses came in at $301.0 million for Q1 2026 at Plains All American Pipeline, up from -$31.5 billion in the prior quarter.
- Over the last five years, Operating Expenses for PAAPU reached as high as $55.1 billion in Q4 2022 and fell as low as -$34.5 billion in Q4 2024.
- Median Operating Expenses over the past 5 years was $358.0 million (2024), compared with a mean of $3.6 billion.
- On a YoY basis, Operating Expenses climbed as much as 3631.23% in 2024 and fell as far as 150100.0% in 2024.
- Over 5 years, Operating Expenses stood at $55.1 billion in 2022, then tumbled by 99.96% to $23.0 million in 2023, then sank by 150100.0% to -$34.5 billion in 2024, then advanced by 8.8% to -$31.5 billion in 2025, then jumped by 100.96% to $301.0 million in 2026.
- Per Business Quant, the three latest PAAPU Operating Expenses figures stand at $301.0 million (Q1 2026), -$31.5 billion (Q4 2025), and $11.1 billion (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 13.95 Bn |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 3.38 Bn |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 12.50 Bn |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 1.70 Bn |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 333.70 Mn |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 1.82 Bn |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 7.00 Mn |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 274.00 Mn |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 3.45 Bn |
| 10 | Plains All American Pipeline | - | - | 977.00 Mn | 301.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 301.00 Mn |
| Dec 31, 2025 | -31.46 Bn |
| Sep 30, 2025 | 11.09 Bn |
| Jun 30, 2025 | 10.40 Bn |
| Mar 31, 2025 | 11.12 Bn |
| Dec 31, 2024 | -34.50 Bn |
| Sep 30, 2024 | 408.00 Mn |
| Jun 30, 2024 | 12.43 Bn |
| Mar 31, 2024 | 358.00 Mn |
| Dec 31, 2023 | 23.00 Mn |
| Sep 30, 2023 | 11.84 Bn |
| Jun 30, 2023 | 333.00 Mn |
| Mar 31, 2023 | 357.00 Mn |
| Dec 31, 2022 | 55.08 Bn |
| Sep 30, 2022 | 318.00 Mn |
| Jun 30, 2022 | 307.00 Mn |
| Mar 31, 2022 | 13.40 Bn |
| Dec 31, 2021 | 40.48 Bn |
| Sep 30, 2021 | 10.81 Bn |
| Jun 30, 2021 | 10.17 Bn |