Plains Gp Holdings (PAGP) Operating Expenses (2012 - 2026)
Plains Gp Holdings (PAGP) reported Operating Expenses of $17.3 billion for Q2 2026, up 66.2% from $10.41 billion a year earlier and up 43.3% from the prior quarter.
Powered by 
Analysis
Plains Gp Holdings (PAGP) Operating Expenses (2012 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Plains Gp Holdings' Operating Expenses came in at $50.67 billion, up 10.5% year-over-year; for FY2025, it was $42.83 billion, down 10.8% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of 10.8% (FY2020 to FY2025).
- By year, Operating Expenses came in at $48.03 billion in FY2024 (+4.2%), $46.09 billion in FY2023 (-17.8%), $56.06 billion in FY2022 (+35.9%) and $41.24 billion in FY2021 (+60.6%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses in data going back to Q3 2012.
- Year over year, Operating Expenses gained in four of the last eight quarters, with growth averaging 5.1%.
- The high point for year-over-year Operating Expenses in five years was Q4 2021 (growth of 105.6%); the low point was Q2 2023 (a decline of 29.6%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $12.07 billion (Q1 2026), $10.21 billion (Q4 2025) and $11.1 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 104.99 Bn | 100.59 Bn | 4.84 Bn | 19.09 Bn |
| 2 | Williams Companies | 89.02 Bn | 87.74 Bn | 2.54 Bn | 1.87 Bn |
| 3 | Enterprise Products Partners | 79.54 Bn | 77.93 Bn | - | 16.13 Bn |
| 4 | Kinder Morgan | 75.61 Bn | 75.31 Bn | 3.07 Bn | 3.13 Bn |
| 5 | Energy Transfer | 69.19 Bn | 62.37 Bn | 7.40 Bn | 30.76 Bn |
| 6 | Tc Energy | 65.04 Bn | 61.12 Bn | 2.81 Bn | -1.06 Bn |
| 7 | Targa Resources | 63.28 Bn | 62.76 Bn | 2.14 Bn | 354.10 Mn |
| 8 | Mplx | 59.34 Bn | 52.90 Bn | 2.91 Bn | 1.93 Bn |
| 9 | Cheniere Energy | 59.20 Bn | 54.03 Bn | 5.29 Bn | 1.44 Bn |
| 10 | Plains Gp Holdings | 5.51 Bn | 2.77 Bn | 1.14 Bn | 17.30 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 17.30 Bn |
| Mar 31, 2026 | 12.07 Bn |
| Dec 31, 2025 | 10.21 Bn |
| Sep 30, 2025 | 11.10 Bn |
| Jun 30, 2025 | 10.41 Bn |
| Mar 31, 2025 | 11.12 Bn |
| Dec 31, 2024 | 12.05 Bn |
| Sep 30, 2024 | 12.26 Bn |
| Jun 30, 2024 | 12.43 Bn |
| Mar 31, 2024 | 11.63 Bn |
| Dec 31, 2023 | 11.15 Bn |
| Sep 30, 2023 | 11.84 Bn |
| Jun 30, 2023 | 11.23 Bn |
| Mar 31, 2023 | 11.87 Bn |
| Dec 31, 2022 | 12.99 Bn |
| Sep 30, 2022 | 13.71 Bn |
| Jun 30, 2022 | 15.95 Bn |
| Mar 31, 2022 | 13.40 Bn |
| Dec 31, 2021 | 12.39 Bn |
| Sep 30, 2021 | 10.82 Bn |
API Access
Plains Gp Holdings Operating Expenses 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=operating-expenses&ticker=PAGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PAGP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PAGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();