Plains All American Pipeline LP (PAA)
Plains All American Pipeline LP brought in $52.3B of revenue over the twelve months to June 30, 2026, up 12.2% from a year earlier. Net income was $2.8B, a net margin of 5.3%. Operating cash flow minus capital spending left $2.3B of free cash flow in fiscal 2025. At June 30, 2026 it held $1.1B in cash against $8.4B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 10, 2026.
Watch PAA in 60 secondsWhat Plains All American Pipeline LP does
Plains All American Pipeline LP is registered with the SEC under industry code SIC 4610 (Pipe Lines (No Natural Gas)). Its shares trade on NASDAQ under the ticker PAA.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $44.3B | $1.4B | n/a | $2.3B |
| 2024 | $48.9B | $772M | n/a | $2B |
| 2023 | $47.3B | $1.2B | n/a | $2.3B |
| 2022 | $57.3B | $1B | n/a | $2B |
| 2021 | $42.1B | $593M | n/a | $1.7B |
| 2020 | $23.3B | -$2.6B | n/a | $776M |
Full financial statements: income, balance sheet and cash flow
Where PAA ranks in Energy
Latest SEC filings
What Plains All American Pipeline LP has filed recently, newest first. Each links to the original document on SEC EDGAR.
- September 14, 2026
- September 11, 2026
- September 10, 2026Passive stake changed SCHEDULE 13G/A
- September 10, 2026Other event 8-K
- September 9, 2026
- September 9, 2026
- September 9, 2026
- August 10, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 66% to $17.7B versus the same quarter last year; net income rose 771% to $1.8B.
- August 7, 2026
- June 17, 2026
Insider trades
What the people running Plains All American Pipeline LP did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 17 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 14, 2026 | Chiang Willie CWChairman & CEO, Director | Exercised options | 346,357 | - |
| August 14, 2026 | Chiang Willie CWChairman & CEO, Director | Shares withheld for tax | 136,292 | $3.2M |
| August 14, 2026 | Chandler Chris R.EVP & COO | Exercised options | 500,000 | - |
| August 14, 2026 | Chandler Chris R.EVP & COO | Exercised options | 140,691 | - |
| August 14, 2026 | Chandler Chris R.EVP & COO | Shares withheld for tax | 252,112 | $5.9M |
| August 14, 2026 | Goebel Jeremy L.EVP & CCO | Exercised options | 500,000 | - |
| August 14, 2026 | Goebel Jeremy L.EVP & CCO | Exercised options | 140,691 | - |
| August 14, 2026 | Goebel Jeremy L.EVP & CCO | Shares withheld for tax | 252,112 | $5.9M |
| August 14, 2026 | Goebel Jeremy L.EVP & CCO | Gave as a gift | 388,579 | - |
| August 14, 2026 | Goebel Jeremy L.EVP & CCO | Gave as a giftindirect | 388,579 | - |
| August 14, 2026 | McGee Richard K.EVP, General Counsel & Sec. | Exercised options | 109,165 | - |
| August 14, 2026 | McGee Richard K.EVP, General Counsel & Sec. | Shares withheld for tax | 42,957 | $1M |
| August 14, 2026 | Swanson AlEVP & CFO | Exercised options | 109,165 | - |
| August 14, 2026 | Swanson AlEVP & CFO | Shares withheld for tax | 42,957 | $1M |
| August 14, 2026 | Herbold ChrisSr. VP Finance & CAO | Exercised options | 100,000 | - |
Who owns PAA
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| ALPS Advisors, Inc.13G, passive with 1 related filers | 9.99% | September 10, 2026 |
| ALPS Advisors, Inc. (Tax ID: 84-1583423)13G, passive with 1 related filers | 8.96% | November 13, 2024 |
| CIBC Private Wealth Group LLC13G, passive | 7.6% | February 14, 2025 |
Largest institutional holders
Insiders
6 insiders reported holding 4,854,965 shares in total, about $118.3M at the last price.
| Holder | Shares |
|---|---|
| Chiang Willie CWChairman & CEO, Director | 1,396,856 |
| Goebel Jeremy L.EVP & CCO | 907,515907,515 held indirectly |
| Chandler Chris R.EVP & COO | 882,483 |
| McGee Richard K.EVP, General Counsel & Sec. | 672,561 |
| Swanson AlEVP & CFO | 668,109 |
| Herbold ChrisSr. VP Finance & CAO | 327,441 |
Questions about PAA
What does Plains All American Pipeline LP do?
Plains All American Pipeline LP is registered with the SEC under industry code SIC 4610 (Pipe Lines (No Natural Gas)). Its shares trade on NASDAQ under the ticker PAA.
Is Plains All American Pipeline LP profitable?
Yes. Over the twelve months to June 30, 2026 it reported net income of $2.8B on revenue of $52.3B, a net margin of 5.3%.
How much revenue does Plains All American Pipeline LP make?
Over the twelve months to June 30, 2026 Plains All American Pipeline LP reported revenue of $52.3B. That is 12.2% more than a year earlier.
When did Plains All American Pipeline LP last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 10, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from September 16, 2026.
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Follow PAA: get an email when it filesWhere the numbers come from
Financial figures are the values Plains All American Pipeline LP tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.