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PLAINS ALL AMERICAN PIPELINE LP

Rank #419Value

PAAPU · OTC

PLAINS ALL AMERICAN PIPELINE LP (PAAPU) — Rank #419 by gross profitability (GP/assets 0.13) · ROE — · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001070423 · all metrics point-in-time as of the filing date.

About

State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

—

Industry

—

Exchange

OTC

Signal Flags

1 green1 red
Operating leverage expandingOperating income growing faster than revenue
Revenue declining YoYRevenue contracted year over year

Quality Profile

Profitability

1/1 pass
GP / assets
0.13
Return on equity
—
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
—
Current ratio
1.12×
Net cash
$1.05B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.1%

Growth

0/1 pass
Revenue growth
-9.5%
Piotroski F-Score
N/A
Share dilution
—

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.13

Primary signal (Novy-Marx).

Return on equity

—

Gross margin

8.7%

Revenue growth (YoY)

-9.5%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-8.3%

Revenue CAGR (5Y)

13.7%

Earnings CAGR (3Y)

11.4%

FCF CAGR (3Y)

5.5%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

—

Current ratio

1.12×

Quick ratio

1.08×

Net cash

$1.05B

Cash & equivalents minus total debt.

Recession resistance

Revenue through recessions

Worst single-year YoY revenue decline, 19 years of history

Weak
2008-2009 (GFC)
-38.4%Significant decline
2020 (COVID)
-30.8%Significant decline
Worst year on record(any fiscal year, not recession-limited)
-46.7%Significant decline

Cash-flow health

Free cash flow

$2.29B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.60

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.1%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 7/9 components determinable.

Lifecycle Phase History

20202025
Decline
Hypergrowth
Value
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