Plains Gp Holdings (PAGP) Operating Expenses (2012 - 2026)
Plains Gp Holdings (PAGP) posted quarterly Operating Expenses of $12.1 billion for Q1 2026, up 3922.33% year-over-year from $300.0 million in Q1 2025, and down 71.24% quarter-over-quarter from $42.0 billion in Q4 2025.
Plains Gp Holdings (PAGP) Operating Expenses (2012 - 2026) Analysis & Trends
Plains Gp Holdings (PAGP) has reported Operating Expenses for 15 consecutive years, with $12.1 billion the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 3922.33% year-over-year to $12.1 billion; the TTM figure through Mar 2026 stood at $75.5 billion (up 103.91% YoY), while the FY2025 annual figure was $42.8 billion, down 10.81% from the prior year.
- Operating Expenses slipped to $12.1 billion in Q1 2026 per PAGP's latest filing, from $42.0 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $42.0 billion in Q4 2025 and bottomed at $300.0 million in Q1 2025.
- Historically, Operating Expenses has averaged $11.0 billion across 5 years, with a median of $11.8 billion in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 6020.09% — and 2025, when it plunged 97.42%.
- Plains Gp Holdings' Operating Expenses stood at $13.0 billion in 2022, then declined by 14.17% to $11.2 billion in 2023, then increased by 8.07% to $12.1 billion in 2024, then jumped by 248.2% to $42.0 billion in 2025, then slumped by 71.24% to $12.1 billion in 2026.
- Business Quant data shows PAGP's Operating Expenses at $12.1 billion in Q1 2026, $42.0 billion in Q4 2025, and $11.1 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 3.13 Bn |
| 2 | Enbridge | 111.13 Bn | 109.64 Bn | 5.23 Bn | 19.09 Bn |
| 3 | Enterprise Products Partners | 83.45 Bn | 82.54 Bn | - | 16.13 Bn |
| 4 | Energy Transfer | 72.53 Bn | 71.50 Bn | 7.40 Bn | 30.76 Bn |
| 5 | Tc Energy | 66.12 Bn | 58.56 Bn | 1.24 Bn | 851.61 Mn |
| 6 | Mplx | 60.19 Bn | 59.16 Bn | 2.73 Bn | 1.93 Bn |
| 7 | Oneok | 60.00 Bn | 59.84 Bn | 2.81 Bn | 4.00 Mn |
| 8 | Targa Resources | 59.13 Bn | 59.00 Bn | 2.14 Bn | 354.10 Mn |
| 9 | Cheniere Energy | 56.04 Bn | 54.79 Bn | 5.29 Bn | 1.44 Bn |
| 10 | Plains Gp Holdings | 5.12 Bn | 4.06 Bn | 1.14 Bn | 17.30 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 17.30 Bn |
| Mar 31, 2026 | 12.07 Bn |
| Dec 31, 2025 | 41.96 Bn |
| Sep 30, 2025 | 11.10 Bn |
| Jun 30, 2025 | 10.41 Bn |
| Mar 31, 2025 | 300.00 Mn |
| 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 | 333.00 Mn |
| Mar 31, 2023 | 11.87 Bn |
| Dec 31, 2022 | 12.99 Bn |
| Sep 30, 2022 | 318.00 Mn |
| Jun 30, 2022 | 307.00 Mn |
| Mar 31, 2022 | 13.40 Bn |
| Dec 31, 2021 | 319.00 Mn |
| Sep 30, 2021 | 274.00 Mn |