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Genesis Energy vs Plains All American Pipeline: revenue, profit, margins and growth compared

Genesis Energy brought in $1.6B of revenue in fiscal 2025, Plains All American Pipeline $44.3B in fiscal 2025. Revenue changed by -1.8% at Genesis Energy and -9.5% at Plains All American Pipeline on the year before, so Genesis Energy grew faster. Genesis Energy kept -27.0% of its revenue as net profit, Plains All American Pipeline 3.2%. Free cash flow was $65.9M at Genesis Energy and $2.3B at Plains All American Pipeline.

Side by side, latest fiscal year

GELPAA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.6B$44.3B
Revenue growth-1.8%-9.5%
Net income-$440.4M$1.4B
Net margin-27.0%3.2%
Free cash flow$65.9M$2.3B
Free cash flow margin4.0%5.2%
Earnings per share (diluted)-$4.19n/a
Cash$6.4M$328M
Debt$3B$11.3B
Price to earningsn/an/a
Market value$1.7B$17.2B
Dividend yieldn/an/a
Rank by revenue in sector#70 of 163 · Energy#12 of 163 · Energy

Over the years

Revenue
GEL FY2018: $2.9BGEL FY2019: $2.5BGEL FY2020: $1.8BGEL FY2021: $2.1BGEL FY2022: $2.8BGEL FY2023: $1.7BGEL FY2024: $1.7BGEL FY2025: $1.6BPAA FY2018: $34.1BPAA FY2019: $33.7BPAA FY2020: $23.3BPAA FY2021: $42.1BPAA FY2022: $57.3BPAA FY2023: $47.3BPAA FY2024: $48.9BPAA FY2025: $44.3BFY18FY19FY20FY21FY22FY23FY24FY25
GEL $1.6BPAA $44.3B
Net income
GEL FY2018: -$6.1MGEL FY2019: $96MGEL FY2020: -$416.7MGEL FY2021: -$165.1MGEL FY2022: $75.5MGEL FY2023: $117.7MGEL FY2024: -$63.9MGEL FY2025: -$440.4MPAA FY2018: $2.2BPAA FY2019: $2.2BPAA FY2020: -$2.6BPAA FY2021: $593MPAA FY2022: $1BPAA FY2023: $1.2BPAA FY2024: $772MPAA FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
GEL -$440.4MPAA $1.4B
Net margin
GEL FY2018: -0.2%GEL FY2019: 3.9%GEL FY2020: -22.8%GEL FY2021: -7.8%GEL FY2022: 2.7%GEL FY2023: 6.8%GEL FY2024: -3.9%GEL FY2025: -27.0%PAA FY2018: 6.5%PAA FY2019: 6.4%PAA FY2020: -11.1%PAA FY2021: 1.4%PAA FY2022: 1.8%PAA FY2023: 2.6%PAA FY2024: 1.6%PAA FY2025: 3.2%FY18FY19FY20FY21FY22FY23FY24FY25
GEL -27.0%PAA 3.2%
Revenue growth
GEL FY2019: -14.8%GEL FY2020: -26.4%GEL FY2021: +16.5%GEL FY2022: +31.2%GEL FY2023: -38.3%GEL FY2024: -3.5%GEL FY2025: -1.8%PAA FY2019: -1.1%PAA FY2020: -30.8%PAA FY2021: +80.7%PAA FY2022: +36.3%PAA FY2023: -17.4%PAA FY2024: +3.3%PAA FY2025: -9.5%FY19FY20FY21FY22FY23FY24FY25
GEL -1.8%PAA -9.5%
Free cash flow
GEL FY2018: $194.7MGEL FY2019: $219MGEL FY2020: $152.6MGEL FY2021: $36.6MGEL FY2022: -$89.8MGEL FY2023: -$98.9MGEL FY2024: -$195.2MGEL FY2025: $65.9MPAA FY2018: $974MPAA FY2019: $1.3BPAA FY2020: $776MPAA FY2021: $1.7BPAA FY2022: $2BPAA FY2023: $2.3BPAA FY2024: $2BPAA FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
GEL $65.9MPAA $2.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Genesis Energy and Plains All American Pipeline

Which is bigger by revenue, Genesis Energy or Plains All American Pipeline?

Plains All American Pipeline is bigger by revenue: $44.3B in fiscal 2025, against $1.6B for Genesis Energy in fiscal 2025.

Which keeps more of its revenue as profit, Genesis Energy or Plains All American Pipeline?

Genesis Energy had a net margin of -27.0% in fiscal 2025; Plains All American Pipeline had 3.2% in fiscal 2025.

Which grew revenue faster, Genesis Energy or Plains All American Pipeline?

In their latest fiscal years revenue changed by -1.8% at Genesis Energy and -9.5% at Plains All American Pipeline.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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