QualityDipStocks / Energy · Natural Gas Distribution
Plains GP Holdings L.P. Units representing Limited Partner Interests PAGP
Outside our quality screen, so we don’t track its dips. It’s 5% below its 52-week high.
Outside our quality screen. No fair value estimate for now: the model’s result is too extreme to stand behind.
- Fair value est.
- n/a
- Market Value
- $27.25price +1%
- Off 52-wk high
- −5%
- Risk vs market
- Lowbeta −0.36
4 bullish · 5 bearish See why
Repriced or dip?
Near its high
The price is 5% below its 52-week high (Oct 26), but the business held up: shares outstanding unchanged, operating margin 0.0 pts, free cash flow 0.0%.
Some numbers held up (shares outstanding unchanged, operating margin 0.0 pts, free cash flow 0.0%), others slipped. The price is 5% below its 52-week high.
The price is 5% below its 52-week high, and the business changed too.
Within 10% of its 52-week high, so there is no dip to judge yet.
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
52-wk high: P/E 10.3×; 52-wk low: P/E 25.0×; now: P/E 9.8×.
| High | Low | Now | |
|---|---|---|---|
| Price | $28.87Oct 26 | $17.17Nov 3 | $27.47 |
| Implied growth | below −30% | below −30% | below −30% |
| P/E | 10.3× | 25.0× | 9.8× |
| P/FCF | 2.4× | 1.7× | 2.3× |
What this means: a lower P/E than at the high means you pay less for each dollar of profit than buyers did then.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
Estimate unreliable for PAGP: the model gives 591% above the price, more than we can stand behind (usually peak-cycle cash flow, heavy debt, or cash flows that include customer or loan balances). We’d rather show nothing than a made-up number.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much PAGP moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Has moved mostly independently of the market, but its own price swings are 1.5× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- -0.36
- Volatility
- 19% vs 13% SPY
- Correlation SPY
- −0.24
- Correlation QQQ
- −0.26
How it ranks
Where PAGP stands vs every one of the 1,996 stocks we cover that has the number. Longer bar = better.
Top quarter on 1 of 4 measures
- Free cash flow yield44% · free cash flow vs market capTop 1%of 1,391
- Dividends + buybacks yield0% · cash paid out or used to retire shares, vs market capLowest 1%of 1,836
- Revenue growth, last 12 months+12% · vs the 12 months beforeTop 41%of 1,814
- Operating margin3.1% · of sales kept as operating profitLowest 19%of 1,288
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
MV $27.25 · FCF value $183.13
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 4 of 5
ValuationFree-cash-flow yield of 43.6% (price / FCF 2.3×): $2.4B of free cash in the last 12 months.
Balance sheetPaid down debt: $1.1B at FY2025, 85% less than at FY2023.
ValuationP/E of 9.8× vs a 15.9× median for the 73 Energy companies we cover.
GrowthSales grew 12% to $52.3B over the last 12 months vs the 12 months before (SEC filings).
Top bearish points 5 of 5
GrowthSales shrank 8% a year from FY2022 to FY2025.
ProfitabilityOperating margin of 3.1%, below the 13% median for the 69 Energy companies we cover.
ProfitabilityGross margin of 7.8%, below the 28% median for the 37 Energy companies we cover.
RiskCyclical business: one strong year of cash flow can make it look cheaper than it is.
RiskReports earnings Nov 6 (consensus EPS $1.10): results can move the price sharply and reset Market Value.
All fundamentals
P/E 9.8 · FCF yield 43.6% · Sales +12%
Valuation
- P/E
- 9.8×Energy median 15.9×
- Price / FCF
- 2.3×
- FCF yield
- 43.6%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 0.10×
- Price / book
- n/anot reported in its SEC filings
- Market cap
- $5.4Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $52.3B
- Sales growth, 12 months
- +12.2%vs the 12 months before
- Sales growth, 3 yrs
- −8.3%/yrfrom FY2022
- Diluted EPS, 12 months
- n/anot reported in its SEC filings
- EPS growth, last FY
- +370.0%
- Net income, 12 months
- $554M
- Net income growth
- +307%12 months vs before
Profitability
- Gross margin
- 7.8%
- Operating margin
- 3.1%
- Net margin
- 1.1%
- FCF margin
- 4.5%
- Return on equity
- n/anot reported in its SEC filings
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- n/anot reported in its SEC filings
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- 3.1×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- $2.4B
- FCF growth, 12 months
- +7%
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Jun 30, 2026. From Plains GP Holdings L.P. Units representing Limited Partner Interests’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $1.4B · Sales +66%
- Free cash flow, 12 months$1.4B
- Free-cash-flow yield43.6%
- Free-cash-flow margin3%
- Gross margin6%
- Operating margin3%
- Return on invested capital12%
- Return on equity8%
- Sales growth (latest quarter vs year-ago quarter)+66%
- Net debt / EBITDA2.9×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $27.47
- 52-wk lowlowest close, 1 year$17.17−37.5%
- Market Valueavg paid since Sep 14$27.25−0.8%
- PriceMon Nov 2 close$27.47you are here
- 52-wk highhighest close, 1 year$28.87+5.1%
Momentum & 52-week range
RSI 48 · 5 days −4.8%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Next report
Nov 6
- DateFri Nov 6, before the open
- Consensus EPS$1.10
- Year-ago EPS$0.31
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
PAGP is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Plains GP Holdings L.P. Units representing Limited Partner Interests in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 1:01 PM ET.
Compare with peers
Closest in size in Natural Gas Distribution
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.