Plains All American Pipeline LP
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, trucks, and on barges or railcars. Thi… Read more
Plains All American Pipeline LP (PAA) - Net Assets
Latest net assets as of September 2025: $13.08 Billion USD
Based on the latest financial reports, Plains All American Pipeline LP (PAA) has net assets worth $13.08 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($30.17 Billion) and total liabilities ($17.09 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $13.08 Billion |
| % of Total Assets | 43.36% |
| Annual Growth Rate | 31.61% |
| 5-Year Change | 2.11% |
| 10-Year Change | 48.37% |
| Growth Volatility | 840.71 |
Plains All American Pipeline LP - Net Assets Trend (1997–2025)
This chart illustrates how Plains All American Pipeline LP's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Plains All American Pipeline LP (1997–2025)
The table below shows the annual net assets of Plains All American Pipeline LP from 1997 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $13.08 Billion | -0.12% |
| 2024-12-31 | $13.10 Billion | -4.63% |
| 2023-12-31 | $13.73 Billion | +3.05% |
| 2022-12-31 | $13.32 Billion | +4.02% |
| 2021-12-31 | $12.81 Billion | +31.55% |
| 2020-12-31 | $9.74 Billion | -26.20% |
| 2019-12-31 | $13.20 Billion | +9.94% |
| 2018-12-31 | $12.00 Billion | +9.53% |
| 2017-12-31 | $10.96 Billion | +24.30% |
| 2016-12-31 | $8.82 Billion | +11.05% |
| 2015-12-31 | $7.94 Billion | -3.08% |
| 2014-12-31 | $8.19 Billion | +6.34% |
| 2013-12-31 | $7.70 Billion | +7.79% |
| 2012-12-31 | $7.15 Billion | +19.98% |
| 2011-12-31 | $5.96 Billion | +30.24% |
| 2010-12-31 | $4.57 Billion | +10.30% |
| 2009-12-31 | $4.15 Billion | +16.72% |
| 2008-12-31 | $3.55 Billion | +3.74% |
| 2007-12-31 | $3.42 Billion | +15.02% |
| 2006-12-31 | $2.98 Billion | +123.70% |
| 2005-12-31 | $1.33 Billion | +24.34% |
| 2004-12-31 | $1.07 Billion | +43.32% |
| 2003-12-31 | $746.73 Million | +45.96% |
| 2002-12-31 | $511.61 Million | +27.01% |
| 2001-12-31 | $402.80 Million | +88.22% |
| 2000-12-31 | $214.00 Million | +10.88% |
| 1999-12-31 | $193.00 Million | -30.48% |
| 1998-12-31 | $277.60 Million | +4546.03% |
| 1997-12-31 | $5.97 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Plains All American Pipeline LP's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $9.84 Billion | 100.00% |
| Total Equity | $9.84 Billion | 100.00% |
Plains All American Pipeline LP Competitors by Market Cap
The table below lists competitors of Plains All American Pipeline LP ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
The AES Corporation
NYSE:AES
|
$10.06 Billion |
|
II-VI Inc.
LSE:0LHO
|
$10.06 Billion |
|
AES Corp.
LSE:0H6G
|
$10.07 Billion |
|
Intertek Group plc
PINK:IKTSF
|
$10.08 Billion |
|
Encompass Health Corp
NYSE:EHC
|
$10.04 Billion |
|
Poste Italiane S.p.A.
LSE:0RC2
|
$10.03 Billion |
|
Danone PK
OTCQX:DANOY
|
$10.03 Billion |
|
C1RH34
SA:C1RH34
|
$10.02 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Plains All American Pipeline LP's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 9,813,000,000 to 9,836,000,000, a change of 23,000,000 (0.2%).
- Net income of 1,435,000,000 contributed positively to equity growth.
- Other factors decreased equity by 1,412,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.44 Billion | +14.59% |
| Other Changes | $-1.41 Billion | -14.36% |
| Total Change | $- | 0.23% |
Book Value vs Market Value Analysis
This analysis compares Plains All American Pipeline LP's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.55x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 216.80x to 1.55x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | $0.10 | $21.59 | x |
| 1998-12-31 | $4.63 | $21.59 | x |
| 1999-12-31 | $3.05 | $21.59 | x |
| 2000-12-31 | $3.11 | $21.59 | x |
| 2001-12-31 | $5.37 | $21.59 | x |
| 2002-12-31 | $5.62 | $21.59 | x |
| 2003-12-31 | $7.04 | $21.59 | x |
| 2004-12-31 | $8.21 | $21.59 | x |
| 2005-12-31 | $9.18 | $21.59 | x |
| 2006-12-31 | $18.15 | $21.59 | x |
| 2007-12-31 | $15.02 | $21.59 | x |
| 2008-12-31 | $14.68 | $21.59 | x |
| 2009-12-31 | $15.27 | $21.59 | x |
| 2010-12-31 | $16.57 | $21.59 | x |
| 2011-12-31 | $17.56 | $21.59 | x |
| 2012-12-31 | $21.79 | $21.59 | x |
| 2013-12-31 | $22.46 | $21.59 | x |
| 2014-12-31 | $22.20 | $21.59 | x |
| 2015-12-31 | $20.05 | $21.59 | x |
| 2016-12-31 | $18.92 | $21.59 | x |
| 2017-12-31 | $-0.08 | $21.59 | x |
| 2018-12-31 | $-3.85 | $21.59 | x |
| 2019-12-31 | $16.49 | $21.59 | x |
| 2020-12-31 | $13.38 | $21.59 | x |
| 2021-12-31 | $17.89 | $21.59 | x |
| 2022-12-31 | $19.01 | $21.59 | x |
| 2023-12-31 | $14.91 | $21.59 | x |
| 2024-12-31 | $13.98 | $21.59 | x |
| 2025-12-31 | $13.97 | $21.59 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Plains All American Pipeline LP utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.59%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.24%
- • Asset Turnover: 1.47x
- • Equity Multiplier: 3.07x
- Recent ROE (14.59%) is above the historical average (9.09%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 35.82% | 0.28% | 5.03x | 25.04x | $1.54 Million |
| 1998 | 1.51% | 2.38% | 0.29x | 2.20x | $-23.56 Million |
| 1999 | -53.52% | -2.20% | 3.84x | 6.34x | $-122.60 Million |
| 2000 | 36.22% | 1.17% | 7.50x | 4.14x | $56.10 Million |
| 2001 | 10.97% | 0.64% | 5.45x | 3.13x | $3.90 Million |
| 2002 | 12.76% | 0.78% | 5.03x | 3.26x | $14.13 Million |
| 2003 | 7.96% | 0.47% | 6.01x | 2.81x | $-15.22 Million |
| 2004 | 12.51% | 0.62% | 6.64x | 3.04x | $26.10 Million |
| 2005 | 16.83% | 0.70% | 7.57x | 3.18x | $88.39 Million |
| 2006 | 9.58% | 1.27% | 2.58x | 2.93x | $-12.58 Million |
| 2007 | 10.66% | 1.79% | 2.06x | 2.89x | $22.60 Million |
| 2008 | 12.30% | 1.45% | 3.00x | 2.82x | $81.80 Million |
| 2009 | 14.47% | 3.13% | 1.50x | 3.09x | $178.80 Million |
| 2010 | 11.04% | 1.95% | 1.85x | 3.06x | $47.70 Million |
| 2011 | 18.40% | 2.82% | 2.23x | 2.93x | $441.10 Million |
| 2012 | 15.31% | 2.89% | 1.97x | 2.69x | $379.40 Million |
| 2013 | 17.67% | 3.22% | 2.08x | 2.64x | $590.70 Million |
| 2014 | 16.90% | 3.18% | 1.95x | 2.72x | $564.90 Million |
| 2015 | 11.37% | 3.90% | 1.04x | 2.81x | $109.10 Million |
| 2016 | 8.24% | 3.60% | 0.83x | 2.75x | $-155.60 Million |
| 2017 | 0.00% | 3.26% | 1.03x | 0.00x | $861.70 Million |
| 2018 | 0.00% | 6.51% | 1.33x | 0.00x | $2.52 Billion |
| 2019 | 16.45% | 6.45% | 1.17x | 2.17x | $851.50 Million |
| 2020 | -26.60% | -11.12% | 0.95x | 2.52x | $-3.56 Billion |
| 2021 | 4.63% | 1.41% | 1.47x | 2.23x | $-688.00 Million |
| 2022 | 7.78% | 1.81% | 2.06x | 2.09x | $-295.50 Million |
| 2023 | 11.80% | 2.53% | 1.78x | 2.62x | $187.80 Million |
| 2024 | 7.87% | 1.54% | 1.89x | 2.71x | $-209.30 Million |
| 2025 | 14.59% | 3.24% | 1.47x | 3.07x | $451.40 Million |
Industry Comparison
This section compares Plains All American Pipeline LP's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $1,230,397,219
- Average return on equity (ROE) among peers: 2202.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Plains All American Pipeline LP (PAA) | $13.08 Billion | 35.82% | 1.31x | $10.05 Billion |
| Antero Midstream Partners LP (AM) | $142.86 Million | 0.00% | 0.21x | $7.58 Billion |
| AltaGas Ltd (ATGFF) | $2.83 Billion | 7.11% | 1.57x | $8.06 Billion |
| ATGPF (ATGPF) | $7.86 Billion | 8.56% | 1.98x | $4.11 Billion |
| Avance Gas Holding Ltd (AVACF) | $603.79 Million | 27.09% | 0.91x | $7.70K |
| CBL International Limited Ordinary Shares (BANL) | $12.11 Million | 30.42% | 1.11x | $3.17 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $863.00K | 22418.66% | 0.16x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $78.49 Million | 16.31% | 4.83x | $32.39 Million |
| Brooge Energy Limited (BROGW) | $56.77 Million | -85.14% | 7.56x | $5.67K |
| Willow Biosciences Inc (CANSF) | $1.10 Million | -405.25% | 0.17x | $2.85 Million |
| Cool Company Ltd (CLCO) | $715.51 Million | 11.75% | 1.88x | $145.96 Million |