Metrics

The numbers behind Plains GP Holdings, L.P.: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in US$ millions unless noted.

Reading notes: PAGP consolidates Plains All American Pipeline, L.P. (PAA); the great majority of consolidated net income is attributable to noncontrolling interests, so 'Net income attributable to PAGP' - not 'Net income' - is the figure that maps to PAGP's Class A shares. In June 2025 PAA agreed to sell its Canadian NGL business to Keyera. The FY2025 Form 10-K reports that business as discontinued operations and restates the 2023 and 2024 income-statement and cash-flow columns accordingly. FY2023-FY2025 in the income statement, cash flow, revenue breakdown and segment tables are therefore on a continuing-operations basis, while FY2021-FY2022 are as originally reported and still include the Canadian NGL business (about 2.5 billion dollars of FY2022 NGL segment revenue). The step down in NGL revenue and NGL Segment Adjusted EBITDA between FY2022 and FY2023 is largely this presentation change, not an operating collapse. The balance sheet is taken from each fiscal year's own Form 10-K. The FY2025 column segregates the held-for-sale Canadian NGL business into 'of discontinued operations' lines (3,036 million of assets and 988 million of liabilities at December 31, 2025), so FY2025 line items such as property and equipment, net are not directly comparable with FY2021-FY2024; Total assets, Total current assets and the capital lines are unaffected. FY2019 and FY2020 long-term-record figures are comparative columns of the FY2021 and FY2022 Forms 10-K. FY2016-FY2018 figures come from the standardized SEC XBRL data feed and carry no page links; diluted earnings per Class A share is not available in the feed for those years.

Share Price — Full Available History — 13 Years

The stock closed at $26.33 on Jul 31, 2026 — down 55% over the window shown (-6.1% a year), trading between $3.49 and $85.19. At that close the stock trades at 20× FY2025 diluted EPS as reported below.

Source: market price feed, monthly closes, sampled from 3,217 source observations, Oct 2013–Jul 2026. Price return only, excludes dividends.

FY2025 at a Glance

Source: FY2025 consolidated statements [1] [2]. Click any linked figure to open the filing page with the row highlighted.

Revenues by Segment and Activity

Revenues by Segment and Activity	FY2021	FY2022	FY2023	FY2024	FY2025
Crude Oil - Sales	39,635	53,822	45,621	47,036	42,408
Crude Oil - Transportation	484	745	1,144	1,231	1,330
Crude Oil - Terminalling, Storage and Other	431	362	381	384	349
Total Crude Oil segment revenues from contracts with customers	40,550	54,929	47,146	48,651	44,087
NGL - Sales	2,292	2,414	179	180	144
NGL - Transportation	25	30	—	—	—
NGL - Terminalling, Storage and Other	82	100	7	7	6
Total NGL segment revenues from contracts with customers	2,399	2,544	186	187	150
Total revenues	42,078	57,342	47,336	48,889	44,262
Total revenues growth, derived	—	+36.3%	-17.4%	+3.3%	-9.5%

Source: Form 10-K revenue note - revenues from contracts with customers disaggregated by segment and type of activity, with the reconciliation to total revenues [3] [4] [5] [6]. Click any linked figure to open the filing page with the row highlighted.

Segment Adjusted EBITDA and Capital Expenditures

Segment Adjusted EBITDA and Capital Expenditures	FY2021	FY2022	FY2023	FY2024	FY2025
Crude Oil	1,909	1,986	2,163	2,276	2,344
NGL	285	518	(30)	(21)	(34)
Segment Adjusted EBITDA	2,194	2,504	2,133	2,255	2,310
Investment and acquisition capital expenditures	269	618	765	554	3,321
Maintenance capital expenditures	168	211	151	187	156

Source: Form 10-K segment footnote (Note 20) and the Segment Adjusted EBITDA reconciliation. FY2023-FY2025 are continuing operations only [7] [8] [9] [10]. Click any linked figure to open the filing page with the row highlighted.

Income Statement

Source: Consolidated Statements of Operations. FY2023-FY2025 are the continuing-operations columns of the FY2025 Form 10-K (Canadian NGL business reported as discontinued operations); FY2021-FY2022 are as originally reported in the FY2022 Form 10-K [1] [2]. Click any linked figure to open the filing page with the row highlighted.

Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.

Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-08-03. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.

Balance Sheet

Source: Consolidated Balance Sheets, each fiscal year taken from its own Form 10-K [11] [12] [13] [14]. Click any linked figure to open the filing page with the row highlighted.

Cash Flow

Source: Consolidated Statements of Cash Flows. FY2023-FY2025 from the FY2025 Form 10-K; FY2021-FY2022 from the FY2022 Form 10-K [15] [16]. Click any linked figure to open the filing page with the row highlighted.

Crude Oil Pipeline Throughput

Crude Oil Pipeline Throughput	FY2021	FY2022	FY2023	FY2024	FY2025
Permian Basin pipeline tariff volumes (MBbl/d)	4,412	5,638	6,356	6,731	7,333
Total crude oil pipeline tariff volumes (MBbl/d)	6,205	7,565	8,460	8,934	9,680
Crude oil lease gathering purchases (MBbl/d)	1,330	1,382	1,452	1,586	—

Source: company filings [17] [18] [19] [20]. Click any linked figure to open the filing page with the row highlighted.

Adjusted EBITDA (Non-GAAP, as reported)

Adjusted EBITDA (Non-GAAP, as reported)	FY2021	FY2022	FY2023	FY2024	FY2025
Adjusted EBITDA (consolidated)	2,290	2,875	3,167	3,326	3,374
Adjusted EBITDA attributable to noncontrolling interests in consolidated JVs	(94)	(365)	(456)	(547)	(541)
Adjusted EBITDA attributable to PAA	2,196	2,510	2,711	2,779	2,833

Source: company filings [21] [22] [23] [24]. Click any linked figure to open the filing page with the row highlighted.

Distributions, Contract Backlog and Customer Mix

Distributions, Contract Backlog and Customer Mix	FY2021	FY2022	FY2023	FY2024	FY2025
Distribution paid per common unit / Class A share ($)	0.72	0.83	1.07	1.27	1.52
Contracted MVC / capacity revenue, following year	416	583	609	630	639
ExxonMobil % of consolidated revenues	15.0%	20.0%	27.0%	31.0%	31.0%

Source: company filings [25] [26] [27] [28]. Click any linked figure to open the filing page with the row highlighted.

Long-Term Record

Fiscal year	Total revenues	Operating income	Net income attributable to PAGP	Diluted net income per Class A share	Net cash provided by operating activities	Additions to property, equipment and other
FY2016	20,182	990	94	—	718	(1,334)
FY2017	26,223	1,147	(731)	—	2,496	(1,024)
FY2018	34,055	2,272	334	—	2,604	(1,634)
FY2019	33,669	1,980	331	1.96	2,500	(1,181)
FY2020	23,290	(2,383)	(568)	(3.07)	1,510	(738)
FY2021	42,078	842	60	0.31	1,991	(336)
FY2022	57,342	1,284	168	0.86	2,404	(455)
FY2023	47,336	1,249	198	1.00	2,722	(408)
FY2024	48,889	862	103	0.51	2,484	(448)
FY2025	44,262	1,428	260	1.30	2,931	(643)

Source: consolidated statements across filings; older years from the standardized feed [15] [1] [16] [2]. Click any linked figure to open the filing page with the row highlighted.

Operating KPIs

KPI	FY2021	FY2022	FY2023	FY2024	FY2025
Permian Basin crude oil pipeline tariff volumes	4,412,000	5,638,000	6,356,000	6,731,000	7,333,000
Total crude oil pipeline tariff volumes	6,205,000	7,565,000	8,460,000	8,934,000	9,680,000

Source: company-reported operating metrics [17] [18] [19] [20]. Click any linked figure to open the filing page with the row highlighted.

Analyst Consensus

Street ratings: 6 strong buy, 1 buy, 6 hold, 2 sell. Consensus: Buy.

Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-08-03. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.

Traceability

568 of 583 figures on this page (97%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.

• PAGP consolidates Plains All American Pipeline, L.P. (PAA); the great majority of consolidated net income is attributable to noncontrolling interests, so 'Net income attributable to PAGP' - not 'Net income' - is the figure that maps to PAGP's Class A shares.

• In June 2025 PAA agreed to sell its Canadian NGL business to Keyera. The FY2025 Form 10-K reports that business as discontinued operations and restates the 2023 and 2024 income-statement and cash-flow columns accordingly. FY2023-FY2025 in the income statement, cash flow, revenue breakdown and segment tables are therefore on a continuing-operations basis, while FY2021-FY2022 are as originally reported and still include the Canadian NGL business (about 2.5 billion dollars of FY2022 NGL segment revenue). The step down in NGL revenue and NGL Segment Adjusted EBITDA between FY2022 and FY2023 is largely this presentation change, not an operating collapse.

• The balance sheet is taken from each fiscal year's own Form 10-K. The FY2025 column segregates the held-for-sale Canadian NGL business into 'of discontinued operations' lines (3,036 million of assets and 988 million of liabilities at December 31, 2025), so FY2025 line items such as property and equipment, net are not directly comparable with FY2021-FY2024; Total assets, Total current assets and the capital lines are unaffected.

• FY2019 and FY2020 long-term-record figures are comparative columns of the FY2021 and FY2022 Forms 10-K. FY2016-FY2018 figures come from the standardized SEC XBRL data feed and carry no page links; diluted earnings per Class A share is not available in the feed for those years.

• The FY2022 Form 10-K prints a Transportation line inside the NGL segment revenue disaggregation; the FY2025 Form 10-K's continuing-operations NGL table has no Transportation line, so those cells are blank for FY2023-FY2025.

• Segment Adjusted EBITDA is the partnership's own segment profit measure as defined in Note 20; the FY2023-FY2025 totals (2,133 / 2,255 / 2,310) exclude the discontinued Canadian NGL business, while the FY2021-FY2022 totals (2,194 / 2,504) include it.

• Crude oil pipeline tariff volumes are average daily volumes in barrels per day, from the Crude Oil segment tables in each Form 10-K's Analysis of Operating Segments.

• 5 figure(s) differed between the data feed and the filing; the filing value is shown (see the run's metrics/metrics_tab.json for the audit trail).