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Plains All American Pipeline LP vs HF Sinclair: PAA and DINO compared
Plains All American Pipeline LP is the larger company: $15.2B of revenue in its latest quarter (Q3 2026) against $10.9B for HF Sinclair (Q3 2026). HF Sinclair is growing faster (+50% against +31% a year earlier). HF Sinclair is more profitable, with an operating margin of 24.6% against 3.4%.
Where the money goes: PAA and DINO
Plains All American Pipeline LP (PAA) · Q3 2026
Plains All American Pipeline LP, Q3 2026: revenue $15.2B (+31% year over year), operating margin 3.4%, net earnings $363M, operating cash flow $669M. The chart follows the revenue to costs, profit and cash.
HF Sinclair (DINO) · Q3 2026
HF Sinclair, Q3 2026: revenue $10.9B (+50% year over year), operating margin 24.6%, net earnings $2.0B, operating cash flow $1.8B. The chart follows the revenue to costs, profit and cash.
| Plains All American Pipeline LP (PAA) | HF Sinclair (DINO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $15.2B | $10.9B |
| Revenue growth, Y/Y | +31% | +50% |
| Operating margin | 3.4% | 24.6% |
| Net earnings | $363M | $2.0B |
| Net margin | 2.4% | 18.6% |
| Operating cash flow | $669M | $1.8B |
| Free cash flow | $458M | $1.6B |
| Market value | $17.3B | $17.2B |
| P/E | 12.5× | 5.0× |
| Analysts’ mean target | $26.76 | $122.81 |
Where the revenue comes from
HF Sinclair
- Total refined product revenues: $10.1B (93%)
- Excess crude oil revenues: $413M (4%)
- Other revenues: $298M (3%)
- Transportation and logistics services: $34.0M (0%)
Questions
Which is bigger, Plains All American Pipeline LP or HF Sinclair?
Plains All American Pipeline LP is the larger company: $15.2B of revenue in its latest quarter (Q3 2026) against $10.9B for HF Sinclair (Q3 2026).
Is Plains All American Pipeline LP or HF Sinclair growing faster?
HF Sinclair is growing faster (+50% against +31% a year earlier).
Which is more profitable, Plains All American Pipeline LP or HF Sinclair?
HF Sinclair is more profitable, with an operating margin of 24.6% against 3.4%.
More: Plains All American Pipeline LP earnings · how Plains All American Pipeline LP makes money · HF Sinclair earnings · how HF Sinclair makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 6, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.