Plains Gp Holdings (PAGP) Operating Margin (2012 - 2026)
Plains Gp Holdings' (PAGP) quarterly Operating Margin came in at 3.23% in Q1 2026, up 14.0% year-on-year from 2.83% in Q1 2025, and down 3.55% on a QoQ basis from 3.35% in Q4 2025.
Plains Gp Holdings (PAGP) Operating Margin (2012 - 2026) Analysis & Trends
Plains Gp Holdings (PAGP) has 15 years of Operating Margin data on file, last reported at 3.23% in Q1 2026.
- On a quarterly basis, Operating Margin rose 14.0% year-over-year to 3.23% in Q1 2026; TTM through Mar 2026 was 3.26%, a 149.0% increase from a year earlier, with the FY2025 full-year figure at 3.23%, up 146.0% from the prior year.
- Operating Margin for Q1 2026 stood at 3.23%, down from 3.35% in the prior quarter.
- Over the last five years, Operating Margin for PAGP reached as high as 4.35% in Q3 2022 and fell as low as 0.31% in Q4 2022.
- Historically, Operating Margin has averaged 2.49% across 5 years, with a median of 2.59% in 2024.
- On a YoY basis, Operating Margin climbed as much as 490 bps in 2022 and fell as far as 490 bps in 2022.
- Year by year, Operating Margin stood at 0.31% in 2022, then surged by 589 bps to 1.51% in 2023, then slumped by 109 bps to 0.14% in 2024, then soared by 2472 bps to 3.35% in 2025, then decreased by 4 bps to 3.23% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 3.23% in Q1 2026, 3.35% in Q4 2025, and 4.17% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 90.00% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 103.91% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 30.06% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 14.43% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | 13.17% |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 31.60% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 10.74% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 20.68% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 14.85% |
| 10 | Plains Gp Holdings | 5.25 Bn | 5.07 Bn | 977.00 Mn | 3.23% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.23% |
| Dec 31, 2025 | 3.35% |
| Sep 30, 2025 | 4.17% |
| Jun 30, 2025 | 2.23% |
| Mar 31, 2025 | 3.09% |
| Dec 31, 2024 | -0.14% |
| Sep 30, 2024 | 1.57% |
| Jun 30, 2024 | 2.59% |
| Mar 31, 2024 | 3.05% |
| Dec 31, 2023 | 1.51% |
| Sep 30, 2023 | 1.92% |
| Jun 30, 2023 | 3.23% |
| Mar 31, 2023 | 3.82% |
| Dec 31, 2022 | -0.31% |
| Sep 30, 2022 | 4.35% |
| Jun 30, 2022 | 2.49% |
| Mar 31, 2022 | 2.13% |
| Dec 31, 2021 | 4.59% |
| Sep 30, 2021 | -0.37% |
| Jun 30, 2021 | -2.41% |