Profit is backed by cash. Free cash flow is 115% of reported profit.
Plains GP Holdings, L.P.'s free cash flow is 115% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Why it changed since the Oct 27, 2026 close: Safety percentile 48 → 49
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -0.31Sector median: 0.4659 · MAD: 0.3175
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Plains GP Holdings, L.P.
Is Plains GP Holdings, L.P. getting weaker?
Its latest SEC filing (Aug 10, 2026) got stronger: debt down 26%. Its overall score is unchanged at 68/100 since Oct 28, 2026.
How is Plains GP Holdings, L.P. valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 95/100 against 404 energy peers.Earnings yield 37.8% vs a peer median of 5.2% (stronger than 95% of peers).Earnings yield 37.8% vs peers 5.2% (stronger than 95% of peers).
Is Plains GP Holdings, L.P. growing?
Yes, faster than most of its peers. Growth scores 79/100 against 404 energy peers.Earnings per share growth 80.4% vs a peer median of 1.1% (stronger than 83% of peers).Earnings per share growth 80.4% vs peers 1.1% (stronger than 83% of peers).
How profitable is Plains GP Holdings, L.P.?
About as profitable as its peers. Profitability scores 48/100 against 404 energy peers.Return on assets 6.8% vs a peer median of 4.4% (stronger than 72% of peers).Return on assets 6.8% vs peers 4.4% (stronger than 72% of peers).Operating margin 3.1% vs a peer median of 11.7% (weaker than 80% of peers).Operating margin 3.1% vs peers 11.7% (weaker than 80% of peers).
How risky is Plains GP Holdings, L.P.?
Moderate risk relative to 404 energy peers, judged on debt, liquidity and share-price swings.Current ratio 1.12× vs a peer median of 1.37× (weaker than 64% of peers).Current ratio 1.12× vs peers 1.37× (weaker than 64% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026
Got stronger
Debt down 26%
Previous quarter
Latest quarter
Change
Revenue (12 months)
45.3B USD
52.3B USD
+15.6%
Net income (12 months)
1.7B USD
2.1B USD
+21.0%
Operating margin
3.3%
3.1%
−0.1 pts
Free cash flow (12 months)
2.1B USD
2.4B USD
+14.1%
Debt
11.4B USD
8.4B USD
−25.8%
Cash
172.0M USD
1.1B USD
+516.3%
Shares outstanding
197.9M
197.9M
0.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Oil & Gas Midstream · 32 companies
Valuations in Oil & Gas Midstream are near the top of their range since Aug 2019.
86% of months since Aug 2019 were valued lower than now.
54% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +44% and earnings +16% (medians): prices rose faster than earnings.
Median price-to-sales is +39% vs the whole market, against a usual +3%.
Aug 2019Shaded: most expensive fifth of its range2026
Plains GP Holdings, L.P. looks cheaper than most of its peers on our valuation measures, while the Oil & Gas Midstream industry as a whole is valued high by its own standards since Aug 2019. Both can be true at once.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since Aug 2019; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Operating margin
2.0%
2.2%
2.6%
1.8%
3.2%
▲ 1.5 pts
Net margin
0.1%
0.3%
0.4%
0.2%
0.6%
▲ 0.4 pts
Return on assets (ROA)
0.2%
0.6%
0.7%
0.4%
0.8%
▲ 0.5 pts
Free cash flow margin
3.9%
3.4%
4.9%
4.2%
5.2%
▲ 1.0 pts
Current ratio
0.98×
0.91×
0.98×
0.97×
0.96×
▼ 1.1%
Quick ratio
0.86×
0.79×
0.87×
0.92×
0.92×
▼ 0.0%
Interest coverage
1.98×
3.17×
3.24×
2.26×
3.06×
▲ 36%
PAGP price history
Price history is added with the daily price update and will appear after the next one.