Plains GP Holdings LP (PAGP) Financial Statements
Industry: Pipe Lines (No Natural Gas)
In fiscal 2025, Plains GP reported revenue of $44.26B, down 11.6% from $50.07B the year before. Net income was $260.0M (a 0.6% net margin). Gross margin was 8.7% and operating margin was 3.2%. Operating activities generated $2.93B of cash, leaving $2.29B of free cash flow. At fiscal year end, Plains GP held $31.28B in total assets against $31.28B in total liabilities, including $329.0M of cash and equivalents.
Open the full interactive Plains GP financials → Quarterly statements, key ratios, valuation history and price charts.
Plains GP Key Stats
| Share Price | $27.09 |
|---|---|
| Revenue YoY Growth | -11.6% |
| 52-Week Range | $15.66 – $28.47 |
| Shares Outstanding | 84.4 million (basic, 2015 Q3) |
Plains GP Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $23.29B | $42.08B | $57.34B | $48.71B | $50.07B | $44.26B |
| Cost of Goods Sold | $20.43B | $38.50B | $53.18B | $44.53B | $45.56B | $40.43B |
| Gross Profit | $2.86B | $3.57B | $4.17B | $4.18B | $4.51B | $3.83B |
| Operating Income | -$2.38B | $842.0M | $1.28B | $1.50B | $1.17B | $1.43B |
| Pre-Tax Income | -$2.61B | $712.0M | $1.41B | $1.61B | $1.27B | $1.40B |
| Income Tax | -$167.0M | $112.0M | $246.0M | $189.0M | $204.0M | $92.0M |
| Net Income | -$568.0M | $60.0M | $168.0M | $198.0M | $103.0M | $260.0M |
Plains GP Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $11.58B | $10.03B | $12.47B | $17.69B |
| Net Income | $83.0M | $63.0M | $20.0M | $389.0M |
Plains GP Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $25.0M | $452.0M | $404.0M | $453.0M | $349.0M | $329.0M |
| Current Assets | $3.67B | $6.14B | $5.36B | $4.92B | $4.78B | $4.70B |
| Total Assets | $25.95B | $29.98B | $29.21B | $28.60B | $27.76B | $31.28B |
| Current Liabilities | $4.25B | $6.23B | $5.89B | $5.00B | $4.92B | $4.90B |
| Total Long-Term Debt | $9.38B | $8.40B | $7.29B | $7.30B | $7.21B | $10.70B |
| Total Liabilities | $25.95B | $29.98B | $29.21B | $28.60B | $27.76B | $31.28B |
Plains GP Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.51B | $1.99B | $2.40B | $2.72B | $2.48B | $2.93B |
| Cash From Investing | -$1.09B | $386.0M | -$526.0M | -$702.0M | -$875.0M | -$3.44B |
| Cash From Financing | -$430.0M | -$1.98B | -$1.93B | -$1.97B | -$1.70B | $474.0M |
| Free Cash Flow | $772.0M | $1.66B | $1.95B | $2.16B | $1.86B | $2.29B |
Figures from Plains GP's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Plains GP financials page for every line item.
Plains GP Company Profile
| Ticker | PAGP |
|---|---|
| Exchange | Nasdaq |
| Industry | Pipe Lines (No Natural Gas) |
| Headquarters | Houston, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001581990 |
Frequently Asked Questions
What was Plains GP's revenue in fiscal 2025?
Plains GP (PAGP) reported revenue of $44.26B for fiscal 2025.
What is Plains GP's annual revenue history?
Plains GP's annual revenue by fiscal year: 2020: $23.29B; 2021: $42.08B; 2022: $57.34B; 2023: $48.71B; 2024: $50.07B; 2025: $44.26B.
What was Plains GP's net income in fiscal 2025?
Plains GP reported net income of $260.0M for fiscal 2025.
How much free cash flow did Plains GP generate in fiscal 2025?
Plains GP generated $2.29B of free cash flow in fiscal 2025.
What was Plains GP's revenue last quarter?
In its most recent reported quarter (2026 Q2), Plains GP reported revenue of $17.69B.
How much debt does Plains GP have?
Plains GP reported $10.70B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Plains GP are outstanding?
Plains GP reported a weighted average of 84.4 million basic shares outstanding in 2015 Q3.
When does Plains GP's fiscal year end?
Plains GP's fiscal year end, as registered with the SEC, is December 31.
Where is Plains GP headquartered?
Plains GP lists its business address in Houston, Texas in its SEC filings.