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Plains All American Pipeline, L.P. logo
Plains All American Pipeline, L.P. PAA
$ 23.67 0.21%
report update icon

Quarterly report 2026-Q1
added 05-08-2026

Plains All American Pipeline, L.P. Balance Sheet 2025-2006 | PAA

Brief balance sheet overview of Plains All American Pipeline, L.P.

Balance sheet changes are traced across five available annual reports between 2016 and 2020.

Assets ended near their starting level at $24.5 billion versus $24.2 billion. This was preservation of scale rather than expansion.

Assets and liabilities changed at similar rates, +1.2% and -4.1%. The funding mix did not shift sharply.

Shareholders' equity accounts for 39.2% of assets, previously 36.2%. Dependence on liabilities is moderate.

Each unit of equity supports about 1.05x of net debt. The level is not critical, though flexibility is narrower.

Cash equals 0.1% of the balance sheet, compared with 0.2% five periods ago. This is the readily available cushion.

What the balance sheet shows

Plains All American Pipeline, L.P.'s balance sheet is broadly resilient, though selected areas require monitoring. The balance between assets, equity and liabilities remains the key issue.

Annual Balance Sheet Plains All American Pipeline, L.P.

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

Net Debt

10.4 B 6.89 B 6.92 B 6.96 B 7.95 B 10.1 B 9.65 B 9.14 B 9.88 B 11.8 B 11.3 B 9.65 B 7.79 B 7.38 B 5.17 B 4.6 B 4.12 B - - -

Long Term Debt

10.7 B 7.21 B 7.3 B 7.29 B 8.4 B 9.31 B 9.19 B 9.14 B 9.18 B 10.1 B 10.4 B 8.76 B 6.72 B 6.32 B 4.52 B 4.63 B 4.14 B - - -

Long Term Debt Current

27 M 30 M 69 M 71 M - 78 M - - - - - - - - - - - - - -

Total Non Current Liabilities

12.2 B 8.52 B 8.62 B 8.68 B 9.57 B 10.5 B 10.5 B 10.1 B 9.86 B 10.7 B 10.9 B 9.31 B 7.25 B 6.91 B 4.9 B 4.92 B 4.42 B 3.52 B - -

Total Current Liabilities

4.93 B 4.95 B 5 B 5.89 B 6.23 B 4.25 B 5.02 B 3.46 B 4.53 B 4.66 B 3.41 B 4.76 B 5.41 B 5.18 B 4.51 B 4.22 B 3.78 B 2.96 B - -

Total Liabilities

- - - - - 14.8 B 15.5 B 13.5 B 14.4 B 15.4 B 14.3 B 14.1 B 12.7 B 12.1 B 9.41 B 9.13 B 8.2 B - - -

Total Assets

30.2 B 26.6 B 27.4 B 27.9 B 28.6 B 24.5 B 28.7 B 25.5 B 25.4 B 24.2 B 22.3 B 22.3 B 20.4 B 19.2 B 15.4 B 13.7 B 12.4 B 10 B - -

Cash and Cash Equivalents

328 M 348 M 450 M 401 M 449 M 22 M 45 M 66 M 37 M 47 M 27 M 403 M 41 M 24 M 26 M 36 M 25 M 11 M 24 M 11 M

Book Value

30.2 B 26.6 B 27.4 B 27.9 B 28.6 B 9.74 B 13.2 B 12 B 11 B 8.82 B 7.94 B 8.19 B 7.7 B 7.15 B 5.97 B 4.57 B 4.16 B 10 B - -

Total Shareholders Equity

9.84 B 9.81 B 10.4 B 10.1 B 9.97 B 9.59 B 13.1 B 12 B 11 B 8.76 B 7.88 B 8.13 B 7.64 B 6.64 B 5.45 B 4.34 B 4.1 B 3.55 B - -

All numbers in USD currency

Quarterly Balance Sheet Plains All American Pipeline, L.P.

2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q3 2024-Q2 2024-Q1 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2 2010-Q1 2009-Q3 2009-Q2

Long Term Debt

11 B 8.44 B 8.2 B 8.2 B 7.21 B 7.21 B 7.31 B 7.3 B 7.29 B 7.29 B - - 7.99 B 7.99 B 8.4 B 8.39 B 8.39 B 9.34 B 9.38 B 9.38 B 9.38 B 9.38 B 9.19 B 9.19 B 9.19 B 9.19 B 9.14 B 9.14 B 9.14 B 9.14 B 9.18 B 9.18 B 9.18 B 9.18 B 10.1 B 10.1 B 10.1 B 10.1 B 10.4 B 10.4 B 10.4 B 10.4 B 8.7 B 8.76 B 8.76 B 8.76 B 6.72 B 6.72 B 6.72 B 6.72 B 6.32 B 6.32 B 6.32 B 5.79 B 4.52 B 4.5 B 5 B 4.98 B - - - - -

Total Non Current Liabilities

12.3 B 9.75 B 9.53 B 9.51 B 8.49 B 8.47 B 8.57 B 8.58 B 8.65 B 8.61 B - - 9.29 B 9.22 B 9.57 B 9.5 B 9.59 B 10.6 B 10.5 B 10.5 B 10.5 B 10.5 B 10.5 B 10.5 B 10.5 B 10.5 B 10.1 B 10.1 B 10.1 B 10.1 B 9.86 B 9.86 B 9.86 B 9.86 B 10.7 B 10.7 B 10.7 B 10.7 B 10.9 B 10.9 B 10.9 B 10.9 B 9.25 B 9.31 B 9.31 B 9.31 B 7.25 B 7.25 B 7.25 B 7.25 B 6.91 B 6.91 B 6.91 B 6.91 B 4.9 B 4.9 B 4.9 B 4.9 B 4.83 B 4.58 B 4.4 B 4.41 B 3.64 B

Total Liabilities

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 9.23 B 9.33 B - - - - -

Total Assets

31.6 B 28.1 B 27.2 B 27.1 B 27.2 B 27.5 B 27.4 B 27.7 B 26.9 B 27.5 B - - 28.9 B 30.6 B 28.6 B 24.2 B 25.4 B 25.3 B 24.5 B 24.5 B 24.5 B 24.5 B 28.7 B 28.7 B 28.7 B 28.7 B 25.5 B 25.5 B 25.5 B 25.5 B 25.4 B 25.4 B 25.4 B 25.4 B 24.2 B 24.2 B 24.2 B 24.2 B 22.3 B 22.3 B 22.3 B 22.3 B 22.2 B 22.3 B 22.3 B 22.3 B 20.3 B 20.4 B 20.4 B 20.4 B 19.2 B 19.2 B 19.2 B 19.2 B 15.4 B 15.4 B 15.4 B 15.4 B 12.7 B 12.4 B 12.1 B 11.5 B 10.6 B

Cash and Cash Equivalents

171 M 1.18 B 459 M 427 M 640 M 553 M 331 M 260 M 933 M 526 M - - 267 M 114 M 449 M 191 M 31 M 30 M 60 M 22 M 22 M 22 M 45 M 45 M 45 M 45 M 66 M 66 M 66 M 66 M 37 M 37 M 37 M 37 M 47 M 47 M 47 M 47 M 27 M 27 M 27 M 27 M 403 M 403 M 403 M 403 M 41 M 41 M 41 M 41 M 24 M 24 M 24 M 24 M 26 M 26 M 26 M 26 M 13 M 15 M 16 M 16 M 7 M

Book Value

31.6 B 28.1 B 27.2 B 27.1 B 27.2 B 27.5 B 27.4 B 27.7 B 26.9 B 27.5 B - - 28.9 B 30.6 B 28.6 B 24.2 B 25.4 B 25.3 B 24.5 B 24.5 B 24.5 B 24.5 B 28.7 B 28.7 B 28.7 B 28.7 B 25.5 B 25.5 B 25.5 B 25.5 B 25.4 B 25.4 B 25.4 B 25.4 B 24.2 B 24.2 B 24.2 B 24.2 B 22.3 B 22.3 B 22.3 B 22.3 B 22.2 B 22.3 B 22.3 B 22.3 B 20.3 B 20.4 B 20.4 B 20.4 B 19.2 B 19.2 B 19.2 B 19.2 B 15.4 B 15.4 B 6.15 B 6.05 B 12.7 B 12.4 B 12.1 B 11.5 B 10.6 B

Total Shareholders Equity

9.6 B 9.76 B 9.71 B 9.63 B 10.2 B 10.3 B 10.3 B 10.3 B 10.4 B 10.2 B - - 9.93 B 10 B 9.97 B 9.15 B 9.5 B 9.94 B 9.59 B 9.59 B 9.59 B 9.59 B 13.1 B 13.1 B 13.1 B 13.1 B 12 B 12 B 12 B 12 B 11 B -753 M 11 B 11 B -1.01 B -1.08 B 8.76 B 8.76 B -1.08 B 7.88 B 7.88 B 7.88 B 8.13 B 8.13 B 8.13 B 8.13 B 7.64 B 7.64 B 7.64 B 7.64 B 6.64 B 6.64 B 6.64 B 6.64 B 5.45 B 5.45 B 5.45 B 5.45 B 4.11 B 4.18 B 4.15 B 4.16 B 3.64 B

All numbers in USD currency

Balance Sheet is a fundamental financial report of Plains All American Pipeline, L.P., providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

Balance sheet of other industry stocks – Oil gas midstream

Issuer Price % 24h Market Cap Country
Kinder Morgan Kinder Morgan
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Cheniere Energy Partners, L.P. Cheniere Energy Partners, L.P.
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Martin Midstream Partners L.P. Martin Midstream Partners L.P.
MMLP
$ 2.04 -1.92 % $ 79.8 M usaUSA
MPLX LP MPLX LP
MPLX
$ 56.7 -0.18 % $ 57.4 B usaUSA
Navigator Holdings Ltd. Navigator Holdings Ltd.
NVGS
$ 20.79 1.56 % $ 1.4 B britainBritain
Dynagas LNG Partners LP Dynagas LNG Partners LP
DLNG
$ 3.19 0.94 % $ 117 M greeceGreece
Plains GP Holdings, L.P. Plains GP Holdings, L.P.
PAGP
$ 25.52 0.41 % $ 5.05 B usaUSA
Crestwood Equity Partners LP Crestwood Equity Partners LP
CEQP
- - $ 2.97 B usaUSA
Enterprise Products Partners L.P. Enterprise Products Partners L.P.
EPD
$ 37.13 1.16 % $ 80.1 B usaUSA
Star Group, L.P. Star Group, L.P.
SGU
$ 13.08 -0.61 % $ 448 M usaUSA
Teekay Corporation Teekay Corporation
TK
$ 12.92 0.62 % $ 1.11 B bermudaBermuda
Teekay Tankers Ltd. Teekay Tankers Ltd.
TNK
$ 85.68 0.66 % $ 2.96 B bermudaBermuda
Targa Resources Corp. Targa Resources Corp.
TRGP
$ 281.42 2.85 % $ 60.8 B usaUSA
TORM plc TORM plc
TRMD
$ 34.28 -0.74 % $ 3.37 B britainBritain
TC Energy Corporation TC Energy Corporation
TRP
$ 63.47 1.01 % $ 66 B canadaCanada
Brooge Energy Limited Brooge Energy Limited
BROG
- 13.04 % $ 478 M britainBritain
Western Midstream Partners, LP Western Midstream Partners, LP
WES
$ 41.1 0.24 % $ 17 B usaUSA
The Williams Companies The Williams Companies
WMB
$ 67.28 1.25 % $ 82.1 B usaUSA
Magellan Midstream Partners, L.P. Magellan Midstream Partners, L.P.
MMP
- - $ 13.9 B usaUSA
ONEOK ONEOK
OKE
$ 87.35 1.59 % $ 54.6 B usaUSA
Green Plains Partners LP Green Plains Partners LP
GPP
- - $ 286 M usaUSA
PBF Logistics LP PBF Logistics LP
PBFX
- -1.19 % $ 1.35 B usaUSA
Euronav NV Euronav NV
EURN
- - $ 3.69 B belgiumBelgium
U.S. Well Services U.S. Well Services
USWS
- -0.45 % $ 91 M usaUSA
Equitrans Midstream Corporation Equitrans Midstream Corporation
ETRN
- - $ 5.39 B usaUSA
DCP Midstream, LP DCP Midstream, LP
DCP
- -0.02 % $ 8.7 B usaUSA
Holly Energy Partners, L.P. Holly Energy Partners, L.P.
HEP
- - $ 2.59 B usaUSA
Shell Midstream Partners, L.P. Shell Midstream Partners, L.P.
SHLX
- - $ 6.22 B usaUSA
Summit Midstream Partners, LP Summit Midstream Partners, LP
SMLP
- - $ 167 M usaUSA
Evolve Transition Infrastructure LP Evolve Transition Infrastructure LP
SNMP
- -0.75 % $ 11.2 M usaUSA
NuStar Energy L.P. NuStar Energy L.P.
NS
- - $ 2.78 B usaUSA
Höegh LNG Partners LP Höegh LNG Partners LP
HMLP
- 0.05 % $ 308 M bermudaBermuda
Blueknight Energy Partners, L.P. Blueknight Energy Partners, L.P.
BKEP
- - $ 195 M usaUSA
Rattler Midstream LP Rattler Midstream LP
RTLR
- 2.95 % $ 545 M usaUSA
EnLink Midstream, LLC EnLink Midstream, LLC
ENLC
- - $ 6.52 B usaUSA
Enbridge Enbridge
ENB
$ 47.76 0.75 % $ 104 B canadaCanada
Delek Logistics Partners, LP Delek Logistics Partners, LP
DKL
$ 53.29 0.27 % $ 3.08 B usaUSA
Noble Midstream Partners LP Noble Midstream Partners LP
NBLX
- - $ 1.37 B usaUSA
Altus Midstream Company Altus Midstream Company
ALTM
- -0.79 % $ 1.07 B usaUSA
Genesis Energy, L.P. Genesis Energy, L.P.
GEL
$ 12.99 2.04 % $ 1.59 B usaUSA
Global Partners LP Global Partners LP
GLP
$ 43.0 3.71 % $ 1.46 B usaUSA
Enable Midstream Partners, LP Enable Midstream Partners, LP
ENBL
- 1.44 % $ 3.07 B usaUSA
Antero Midstream Corporation Antero Midstream Corporation
AM
$ 19.78 1.18 % $ 9.45 B usaUSA
Hess Midstream LP Hess Midstream LP
HESM
$ 30.46 -0.23 % $ 6.28 B usaUSA
Oasis Midstream Partners LP Oasis Midstream Partners LP
OMP
- 2.48 % $ 1.08 B usaUSA
Phillips 66 Partners LP Phillips 66 Partners LP
PSXP
- -2.33 % $ 7.93 B usaUSA
Dorian LPG Ltd. Dorian LPG Ltd.
LPG
$ 46.45 1.02 % $ 1.97 B usaUSA
Pembina Pipeline Corporation Pembina Pipeline Corporation
PBA
$ 49.02 0.58 % $ 28.5 B canadaCanada
GasLog Ltd. GasLog Ltd.
GLOG
- -0.17 % $ 552 M monacoMonaco