Revenue
17.7 billion USD
2026 Q2 · USD
Exact inputs and evidence
- Revenue: 17693000000 USD Source
Fundies. English
PLAINS GP HOLDINGS LP
EDGARAnnual consolidated revenue for 2025: about USD 44.26B, using the latest reported figures. The previous period, 2024, was about USD 48.89B.
Latest quarter
Operating margin
2.24%
2026 Q2 · %
Operating cash flow
952 million USD
2026 Q2 · USD
Free cash flow
814 million USD
2026 Q2 · USD
- Cash and cash equivalents
- 1.06 billion USD Source
Exact value
1060000000 USD
- Long-term debt including current maturities
- 1.1 billion USD Source
Exact value
1099000000 USD
- Shares outstanding
- Not available
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-08-10.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 11 of 11 periods available· newest 2025-12-31
- Operating income: 11 of 11 periods available· newest 2025-12-31
- Net income: 11 of 11 periods available· newest 2025-12-31
- Operating cash flow: 11 of 11 periods available· newest 2025-12-31
- Capital expenditure: 11 of 11 periods available· newest 2025-12-31
- Total assets: 11 of 11 periods available· newest 2025-12-31
- liabilities: No compatible figures in this window
- Current assets: 11 of 11 periods available· newest 2025-12-31
- Current liabilities: 11 of 11 periods available· newest 2025-12-31
- Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
- Long-term debt including current maturities: 1 of 11 periods available· newest 2025-12-31
- shares outstanding: No compatible figures in this window
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
-9.5%Prior period
USD 48.89 billion
–
Current period
USD 44.26 billion
–
Exact inputs and evidence
44262000000 − 48889000000 = -4627000000 USD
48889000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source44262000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
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Net income
+152.4%Prior period
USD 103 million
–
Current period
USD 260 million
–
Exact inputs and evidence
260000000 − 103000000 = 157000000 USD
103000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source260000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
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Operating cash flow
+18%Prior period
USD 2.48 billion
–
Current period
USD 2.93 billion
–
Exact inputs and evidence
2931000000 − 2484000000 = 447000000 USD
2484000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source2931000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
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Capital expenditure
+43.5%Prior period
USD 448 million
–
Current period
USD 643 million
–
Exact inputs and evidence
643000000 − 448000000 = 195000000 USD
448000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source643000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
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Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 44.26 billion 100% of revenue
- Operating costs Derived USD 42.83 billion 97% of revenue
- Operating income USD 1.43 billion 3.2% of revenue
- Tax, interest and other Derived USD 1.17 billion 2.6% of revenue
- Net income USD 260 million 0.6% of revenue
Cash
- Operating cash flow USD 2.93 billion 6.6% of revenue
- Capital expenditure USD 643 million 1.5% of revenue
- Free cash flow Derived USD 2.29 billion 5.2% of revenue
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2016 95%
- 2017 Net loss: net income was −2.8% of revenue.
- 2018 93%
- 2019 94%
- 2020 Operating loss: operating costs were 110% of revenue.
- 2021 98%
- 2022 98%
- 2023 97%
- 2024 98%
- 2025 97%
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 20182000000 | 19192000000 Derived | 990000000 | 896000000 Derived | 94000000 | -616000000 Derived | Source
|
| 2017 2017-01-01 – 2017-12-31 | 26223000000 | 25076000000 Derived | 1147000000 | 1878000000 Derived | -731000000 | 1472000000 Derived | Source
|
| 2018 2018-01-01 – 2018-12-31 | 34055000000 | 31783000000 Derived | 2272000000 | 1938000000 Derived | 334000000 | 970000000 Derived | Source
|
| 2019 2019-01-01 – 2019-12-31 | 33669000000 | 31689000000 Derived | 1980000000 | 1649000000 Derived | 331000000 | 1319000000 Derived | Source
|
| 2020 2020-01-01 – 2020-12-31 | 23290000000 | 25673000000 Derived | -2383000000 | -1815000000 Derived | -568000000 | 772000000 Derived | Source
|
| 2021 2021-01-01 – 2021-12-31 | 42078000000 | 41236000000 Derived | 842000000 | 782000000 Derived | 60000000 | 1655000000 Derived | Source
|
| 2022 2022-01-01 – 2022-12-31 | 57342000000 | 56058000000 Derived | 1284000000 | 1116000000 Derived | 168000000 | 1949000000 Derived | Source
|
| 2023 2023-01-01 – 2023-12-31 | 47336000000 | 46087000000 Derived | 1249000000 | 1051000000 Derived | 198000000 | 2314000000 Derived | Source
|
| 2024 2024-01-01 – 2024-12-31 | 48889000000 | 48027000000 Derived | 862000000 | 759000000 Derived | 103000000 | 2036000000 Derived | Source
|
| 2025 2025-01-01 – 2025-12-31 | 44262000000 | 42834000000 Derived | 1428000000 | 1168000000 Derived | 260000000 | 2288000000 Derived | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 44.3B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 20182000000 |
|
| 2017 | Revenue | 26223000000 |
|
| 2018 | Revenue | 34055000000 |
|
| 2019 | Revenue | 33669000000 |
|
| 2020 | Revenue | 23290000000 |
|
| 2021 | Revenue | 42078000000 |
|
| 2022 | Revenue | 57342000000 |
|
| 2023 | Revenue | 47336000000 |
|
| 2024 | Revenue | 48889000000 |
|
| 2025 | Revenue | 44262000000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
-9.5% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | -12.8% |
|
| 2017 | Year over year | 29.9% |
|
| 2018 | Year over year | 29.9% |
|
| 2019 | Year over year | -1.1% |
|
| 2020 | Year over year | -30.8% |
|
| 2021 | Year over year | 80.7% |
|
| 2022 | Year over year | 36.3% |
|
| 2023 | Year over year | -17.4% |
|
| 2024 | Year over year | 3.3% |
|
| 2025 | Year over year | -9.5% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Operating margin 3.2% 2025
Net margin 0.6% 2025
Free cash flow margin 5.2% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | 4.9% |
|
| 2017 | Operating margin | 4.4% |
|
| 2018 | Operating margin | 6.7% |
|
| 2019 | Operating margin | 5.9% |
|
| 2020 | Operating margin | -10.2% |
|
| 2021 | Operating margin | 2% |
|
| 2022 | Operating margin | 2.2% |
|
| 2023 | Operating margin | 2.6% |
|
| 2024 | Operating margin | 1.8% |
|
| 2025 | Operating margin | 3.2% |
|
| 2016 | Net margin | 0.5% |
|
| 2017 | Net margin | -2.8% |
|
| 2018 | Net margin | 1% |
|
| 2019 | Net margin | 1% |
|
| 2020 | Net margin | -2.4% |
|
| 2021 | Net margin | 0.1% |
|
| 2022 | Net margin | 0.3% |
|
| 2023 | Net margin | 0.4% |
|
| 2024 | Net margin | 0.2% |
|
| 2025 | Net margin | 0.6% |
|
| 2016 | Free cash flow margin | -3.1% |
|
| 2017 | Free cash flow margin | 5.6% |
|
| 2018 | Free cash flow margin | 2.8% |
|
| 2019 | Free cash flow margin | 3.9% |
|
| 2020 | Free cash flow margin | 3.3% |
|
| 2021 | Free cash flow margin | 3.9% |
|
| 2022 | Free cash flow margin | 3.4% |
|
| 2023 | Free cash flow margin | 4.9% |
|
| 2024 | Free cash flow margin | 4.2% |
|
| 2025 | Free cash flow margin | 5.2% |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD 2.9B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | 718000000 |
|
| 2017 | Operating cash flow | 2496000000 |
|
| 2018 | Operating cash flow | 2604000000 |
|
| 2019 | Operating cash flow | 2500000000 |
|
| 2020 | Operating cash flow | 1510000000 |
|
| 2021 | Operating cash flow | 1991000000 |
|
| 2022 | Operating cash flow | 2404000000 |
|
| 2023 | Operating cash flow | 2722000000 |
|
| 2024 | Operating cash flow | 2484000000 |
|
| 2025 | Operating cash flow | 2931000000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
USD 2.3B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | -616000000 |
|
| 2017 | Free cash flow | 1472000000 |
|
| 2018 | Free cash flow | 970000000 |
|
| 2019 | Free cash flow | 1319000000 |
|
| 2020 | Free cash flow | 772000000 |
|
| 2021 | Free cash flow | 1655000000 |
|
| 2022 | Free cash flow | 1949000000 |
|
| 2023 | Free cash flow | 2314000000 |
|
| 2024 | Free cash flow | 2036000000 |
|
| 2025 | Free cash flow | 2288000000 |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016-12-31 | Liabilities / assets | Not reported |
|
| 2017-12-31 | Liabilities / assets | Not reported |
|
| 2018-12-31 | Liabilities / assets | Not reported |
|
| 2019-12-31 | Liabilities / assets | Not reported |
|
| 2020-12-31 | Liabilities / assets | Not reported |
|
| 2021-12-31 | Liabilities / assets | Not reported |
|
| 2022-12-31 | Liabilities / assets | Not reported |
|
| 2023-12-31 | Liabilities / assets | Not reported |
|
| 2024-12-31 | Liabilities / assets | Not reported |
|
| 2025-12-31 | Liabilities / assets | Not reported |
|
Current assets to current liabilities
Current assets divided by current liabilities.
0.96× 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Current assets / current liabilities | 0.92× |
|
| 2017 | Current assets / current liabilities | 0.88× |
|
| 2018 | Current assets / current liabilities | 1.02× |
|
| 2019 | Current assets / current liabilities | 0.92× |
|
| 2020 | Current assets / current liabilities | 0.86× |
|
| 2021 | Current assets / current liabilities | 0.98× |
|
| 2022 | Current assets / current liabilities | 0.91× |
|
| 2023 | Current assets / current liabilities | 0.98× |
|
| 2024 | Current assets / current liabilities | 0.97× |
|
| 2025 | Current assets / current liabilities | 0.96× |
|
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | USD 94 million Exact valueExact value: 94000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 718 million Exact valueExact value: 718000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.33 billion Exact valueExact value: 1334000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 616 million Calculation and evidence718000000 − 1334000000 USD Exact free cash flow: -616000000 USD
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| 2017 2017-01-01 – 2017-12-31 | −USD 731 million Exact valueExact value: -731000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.5 billion Exact valueExact value: 2496000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.02 billion Exact valueExact value: 1024000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.47 billion Calculation and evidence2496000000 − 1024000000 USD Exact free cash flow: 1472000000 USD
Share or citeThe citation records this snapshot. The page link may show a newer release later. |
| 2018 2018-01-01 – 2018-12-31 | USD 334 million Exact valueExact value: 334000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.6 billion Exact valueExact value: 2604000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.63 billion Exact valueExact value: 1634000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 970 million Calculation and evidence2604000000 − 1634000000 USD Exact free cash flow: 970000000 USD
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| 2019 2019-01-01 – 2019-12-31 | USD 331 million Exact valueExact value: 331000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.5 billion Exact valueExact value: 2500000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.18 billion Exact valueExact value: 1181000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.32 billion Calculation and evidence2500000000 − 1181000000 USD Exact free cash flow: 1319000000 USD
Share or citeThe citation records this snapshot. The page link may show a newer release later. |
| 2020 2020-01-01 – 2020-12-31 | −USD 568 million Exact valueExact value: -568000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.51 billion Exact valueExact value: 1510000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 738 million Exact valueExact value: 738000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 772 million Calculation and evidence1510000000 − 738000000 USD Exact free cash flow: 772000000 USD
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| 2021 2021-01-01 – 2021-12-31 | USD 60 million Exact valueExact value: 60000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.99 billion Exact valueExact value: 1991000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 336 million Exact valueExact value: 336000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.66 billion Calculation and evidence1991000000 − 336000000 USD Exact free cash flow: 1655000000 USD
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| 2022 2022-01-01 – 2022-12-31 | USD 168 million Exact valueExact value: 168000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.4 billion Exact valueExact value: 2404000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 455 million Exact valueExact value: 455000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.95 billion Calculation and evidence2404000000 − 455000000 USD Exact free cash flow: 1949000000 USD
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| 2023 2023-01-01 – 2023-12-31 | USD 198 million Exact valueExact value: 198000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.72 billion Exact valueExact value: 2722000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 408 million Exact valueExact value: 408000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.31 billion Calculation and evidence2722000000 − 408000000 USD Exact free cash flow: 2314000000 USD
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| 2024 2024-01-01 – 2024-12-31 | USD 103 million Exact valueExact value: 103000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.48 billion Exact valueExact value: 2484000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 448 million Exact valueExact value: 448000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.04 billion Calculation and evidence2484000000 − 448000000 USD Exact free cash flow: 2036000000 USD
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| 2025 2025-01-01 – 2025-12-31 | USD 260 million Exact valueExact value: 260000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.93 billion Exact valueExact value: 2931000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 643 million Exact valueExact value: 643000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.29 billion Calculation and evidence2931000000 − 643000000 USD Exact free cash flow: 2288000000 USD
Share or citeThe citation records this snapshot. The page link may show a newer release later. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
100 filings · 11,213 latest values · 11,216 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0001581990, 1581990, PAGP, edgar:1581990
Also known as PLAINS GP HOLDINGS LP