PAA
Market read
No new filing conclusion is available. 0 of 11 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Invalidation: The isolated read changes if PAA's group or a disclosed connection begins moving with it.
Research brief
No new filing conclusion is available. 0 of 11 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
No credible peer-relative valuation comparison is available yet.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Adjusted Free Cash Flow is defined as Net cash provided by operating activities, less Net cash provided by/(used in) investing activities, which primarily includes acquisition, investment and maintenance capital expenditures, investments in unconsolidated ent…”10-Q · Aug 10, 2026 ↗
“For the six months ended June 30, 2026, these included (i) current income tax expense of $311 million as a result of basis recapture and capital gains taxed at the applicable rates and withholding taxes on distributions and (ii) a partially offsetting $217 mi…”10-Q · Aug 10, 2026 ↗
“The following table summarizes the components impacting Interest expense, net (in millions): Year Ended December 31, 2025 2024 Interest expense on third-party borrowings (1) $ 478 $ 391 Interest expense on related party promissory notes (2) 87 48 Capitalized…”10-K · Feb 27, 2026 ↗
“The 2026 periods were primarily impacted by recently completed acquisitions, with recurring period-over-period cost increases being driven by (i) higher volumes, (ii) higher property taxes and (iii) higher environmental remediation costs, all partially offset…”10-Q · Aug 10, 2026 ↗
Valuation discipline
Price/sales — · EV/sales —. Comparisons use only industry-matched filing peers.
No usable price/earnings or price/sales multiple (need a fresh price).
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for PAA. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
Jodie has not yet found a suitable current-versus-prior filing comparison for PAA. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“As of December 31, 2025, noncontrolling interests in our subsidiaries consisted of (i) a 35% interest in the Permian JV, (ii) a 30% interest in Cactus II and (iii) a 33% interest in Red River.”
“On October 31, 2025, we purchased an aggregate 55 % equity interest in EPIC Crude Holdings, LP (“EPIC Crude Holdings”), which owns the EPIC Crude Oil Pipeline (“EPIC Pipeline”), from subsidiaries of Diamondback Energy, Inc.”
Depended on by
“In May 2015, an onshore pipeline operated by Plains All American Pipeline, L.P.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
PAA is currently a Early Follower in the organic co-movement group Real Asset Exposure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for PAA; it is not active in the latest market snapshot.
Context history
No durable theme membership has been observed for this name yet.