Plains GP Holdings LP (PAGP) — Tangible Net Worth Ratio
Plains GP Holdings LP (PAGP) has a Tangible Net Worth Ratio of 86.8% as of March 2026. This metric is calculated by deducting intangible assets ($1.69 Billion) from net assets ($12.82 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Plains GP Holdings LP working capital to net assets to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Plains GP Holdings LP Tangible Net Worth Ratio (2011–2025)
This chart shows how Plains GP Holdings LP's Tangible Net Worth Ratio has changed across 15 annual periods from 2011 to 2025. As of March 2026, the ratio stands at 86.8%, reflecting net assets of $12.82 Billion with intangible assets of $1.69 Billion USD. See PAGP days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Plains GP Holdings LP (2011–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Plains GP Holdings LP from 2011 to 2025, covering 15 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see Plains GP Holdings LP market capitalisation.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 87.7% | $14.22 Billion | $1.75 Billion | $31.28 Billion | ▼ -0.6 pp |
| 2024 | 88.3% | $14.32 Billion | $1.68 Billion | $27.76 Billion | ▲ +0.8 pp |
| 2023 | 87.5% | $14.97 Billion | $1.88 Billion | $28.60 Billion | ▲ +2.1 pp |
| 2022 | 85.3% | $14.64 Billion | $2.15 Billion | $29.21 Billion | ▲ +0.6 pp |
| 2021 | 84.7% | $12.81 Billion | $1.96 Billion | $28.61 Billion | ▼ -7.0 pp |
| 2020 | 91.7% | $9.74 Billion | $805.00 Million | $24.50 Billion | ▼ -2.9 pp |
| 2019 | 94.6% | $13.20 Billion | $707.00 Million | $28.68 Billion | ▲ +1.1 pp |
| 2018 | 93.6% | $12.00 Billion | $772.00 Million | $25.51 Billion | ▲ +0.4 pp |
| 2017 | 93.2% | $12.36 Billion | $844.00 Million | $26.75 Billion | ▼ -4.6 pp |
| 2016 | 97.7% | $10.71 Billion | $242.00 Million | $26.10 Billion | ▲ +0.8 pp |
| 2015 | 96.9% | $9.23 Billion | $283.00 Million | $24.14 Billion | ▲ +0.8 pp |
| 2014 | 96.1% | $9.38 Billion | $366.00 Million | $23.98 Billion | ▲ +1.2 pp |
| 2013 | 94.9% | $8.28 Billion | $420.00 Million | $21.45 Billion | ▲ +1.7 pp |
| 2012 | 93.2% | $6.97 Billion | $473.00 Million | $19.26 Billion | ▲ +0.6 pp |
| 2011 | 92.6% | $5.79 Billion | $430.00 Million | $15.41 Billion | — |