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Genesis Energy vs Plains GP: revenue, profit, margins and growth compared

Genesis Energy brought in $1.6B of revenue in fiscal 2025, Plains GP $44.3B in fiscal 2025. Revenue changed by -1.8% at Genesis Energy and -9.5% at Plains GP on the year before, so Genesis Energy grew faster. Genesis Energy kept -27.0% of its revenue as net profit, Plains GP 0.6%. Free cash flow was $65.9M at Genesis Energy and $2.3B at Plains GP.

Side by side, latest fiscal year

GELPAGP
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$260M
Net margin-27.0%0.6%
Free cash flow$65.9M$2.3B
Free cash flow margin4.0%5.2%
Earnings per share (diluted)-$4.19n/a
Cash$6.4M$329M
Debt$3B$1.1B
Price to earningsn/an/a
Market value$1.7B$5.3B
Dividend yieldn/an/a
Rank by revenue in sector#63 of 129 · Energy#8 of 129 · 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: $1.6BPAGP FY2018: $34.1BPAGP FY2019: $33.7BPAGP FY2020: $23.3BPAGP FY2021: $42.1BPAGP FY2022: $57.3BPAGP FY2023: $47.3BPAGP FY2024: $48.9BPAGP FY2025: $44.3BFY18FY19FY20FY21FY22FY23FY24FY25
GEL $1.6BPAGP $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: -$440.4MPAGP FY2018: $334MPAGP FY2019: $331MPAGP FY2020: -$568MPAGP FY2021: $60MPAGP FY2022: $168MPAGP FY2023: $198MPAGP FY2024: $103MPAGP FY2025: $260MFY18FY19FY20FY21FY22FY23FY24FY25
GEL -$440.4MPAGP $260M
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%PAGP FY2018: 1.0%PAGP FY2019: 1.0%PAGP FY2020: -2.4%PAGP FY2021: 0.1%PAGP FY2022: 0.3%PAGP FY2023: 0.4%PAGP FY2024: 0.2%PAGP FY2025: 0.6%FY18FY19FY20FY21FY22FY23FY24FY25
GEL -27.0%PAGP 0.6%
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%PAGP FY2019: -1.1%PAGP FY2020: -30.8%PAGP FY2021: +80.7%PAGP FY2022: +36.3%PAGP FY2023: -17.4%PAGP FY2024: +3.3%PAGP FY2025: -9.5%FY19FY20FY21FY22FY23FY24FY25
GEL -1.8%PAGP -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: $65.9MPAGP FY2018: $970MPAGP FY2019: $1.3BPAGP FY2020: $772MPAGP FY2021: $1.7BPAGP FY2022: $1.9BPAGP FY2023: $2.3BPAGP FY2024: $2BPAGP FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
GEL $65.9MPAGP $2.3B

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

Questions about Genesis Energy and Plains GP

Which is bigger by revenue, Genesis Energy or Plains GP?

Plains GP 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 GP?

Genesis Energy had a net margin of -27.0% in fiscal 2025; Plains GP had 0.6% in fiscal 2025.

Which grew revenue faster, Genesis Energy or Plains GP?

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

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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