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Plains All American Pipeline LP vs Plains GP Holdings LP: PAA and PAGP compared
Plains All American Pipeline LP is the larger company: $15.2B of revenue in its latest quarter (Q3 2026) against $15.2B for Plains GP Holdings LP (Q3 2026). Plains All American Pipeline LP is growing faster (+31% against +31% a year earlier). Plains All American Pipeline LP is more profitable, with an operating margin of 3.4% against 3.4%.
Where the money goes: PAA and PAGP
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.
Plains GP Holdings LP (PAGP) · Q3 2026
Plains GP Holdings LP, Q3 2026: revenue $15.2B (+31% year over year), operating margin 3.4%, net earnings $68.0M, operating cash flow $672M. The chart follows the revenue to costs, profit and cash.
| Plains All American Pipeline LP (PAA) | Plains GP Holdings LP (PAGP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $15.2B | $15.2B |
| Revenue growth, Y/Y | +31% | +31% |
| Operating margin | 3.4% | 3.4% |
| Net earnings | $363M | $68.0M |
| Net margin | 2.4% | 0.4% |
| Operating cash flow | $669M | $672M |
| Free cash flow | $458M | $533M |
| Market value | $17.3B | $5.2B |
| P/E | 12.5× | 4.3× |
| Analysts’ mean target | $26.76 | $26.77 |
Where the revenue comes from
Plains All American Pipeline LP
- Product sales revenues: $14.7B (97%)
- Services revenues: $473M (3%)
Plains GP Holdings LP
- Product sales revenues: $14.7B (97%)
- Services revenues: $473M (3%)
Questions
Which is bigger, Plains All American Pipeline LP or Plains GP Holdings LP?
Plains All American Pipeline LP is the larger company: $15.2B of revenue in its latest quarter (Q3 2026) against $15.2B for Plains GP Holdings LP (Q3 2026).
Is Plains All American Pipeline LP or Plains GP Holdings LP growing faster?
Plains All American Pipeline LP is growing faster (+31% against +31% a year earlier).
Which is more profitable, Plains All American Pipeline LP or Plains GP Holdings LP?
Plains All American Pipeline LP is more profitable, with an operating margin of 3.4% against 3.4%.
More: Plains All American Pipeline LP earnings · how Plains All American Pipeline LP makes money · Plains GP Holdings LP earnings · how Plains GP Holdings LP makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 9, 2026; 10-Q filed Nov 9, 2026). Fiscal quarters can end on different dates. Not investment advice.