Plains Gp Holdings (PAGP) Gross Margin (2014 - 2026)
Plains Gp Holdings (PAGP) reported 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 Gp Holdings (PAGP) Gross Margin (2014 - 2026) Analysis & Trends
Plains Gp Holdings (PAGP) has 13 years of Gross Margin data on file, last reported at 7.83% in Q1 2026.
- Gross Margin for Q1 2026 came in at 7.83%, down 53.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 8.5% (up 80.0% YoY), and the FY2025 annual result was 8.65%, up 103.0% from the prior year.
- Gross Margin eased to 7.83% in Q1 2026 per PAGP's latest filing, from 9.41% in the prior quarter.
- Over five years, Gross Margin peaked at 9.41% in Q4 2025 and troughed at 3.15% in Q4 2023.
- A 5-year average of 7.58% and a median of 7.97% in 2024 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2024: Gross Margin slumped 518 bps in 2022, then soared 482 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 7.39% in 2022, then sank by 57 bps to 3.15% in 2023, then surged by 153 bps to 7.97% in 2024, then climbed by 18 bps to 9.41% in 2025, then dropped by 17 bps to 7.83% in 2026.
- Business Quant data shows PAGP'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 | 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 Gp Holdings | 4.82 Bn | 4.65 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% |