Plains GP Holdings, L.P.

NasdaqGS:PAGP Stock Report

Market Cap: US$4.2b

Plains GP Holdings Valuation

Is PAGP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PAGP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$97.48
Fair Value
81.5% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: PAGP ($18.07) is trading below our estimate of fair value ($97.48)

Significantly Below Fair Value: PAGP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PAGP?

Key metric: As PAGP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PAGP. This is calculated by dividing PAGP's market cap by their current revenue.
What is PAGP's PS Ratio?
PS Ratio0.07x
SalesUS$47.80b
Market CapUS$4.24b

Price to Sales Ratio vs Peers

How does PAGP's PS Ratio compare to its peers?

The above table shows the PS ratio for PAGP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.8x
GLNG Golar LNG
14.9x11.18%US$4.0b
STNG Scorpio Tankers
2.9x3.96%US$2.6b
FRO Frontline
2.8x-4.45%US$5.1b
DKL Delek Logistics Partners
2.6x4.96%US$2.4b
PAGP Plains GP Holdings
0.07x0.72%US$4.2b

Price-To-Sales vs Peers: PAGP is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (5.8x).

Price to Sales Ratio vs Industry

How does PAGP's PS Ratio compare vs other companies in the US Oil and Gas Industry?

40 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.1.5x3.6%
PAGP Plains GP Holdings
 0.07x0.72%US$4.24b
PAA Plains All American Pipeline
0.2x1.80%US$11.92b
DINO HF Sinclair
0.4x1.57%US$9.70b
PAGP 0.1xIndustry Avg. 1.5xNo. of Companies40PS01.63.24.86.48+
40 CompaniesEstimated GrowthMarket Cap
Industry Avg.1.5x12.8%
PAGP Plains GP Holdings
 0.07x41.29%US$4.24b
No more companies

Price-To-Sales vs Industry: PAGP is good value based on its Price-To-Sales Ratio (0.1x) compared to the US Oil and Gas industry average (1.5x).

Price to Sales Ratio vs Fair Ratio

What is PAGP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PAGP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.07x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: PAGP is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PAGP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$18.07
US$21.19
+17.28%
11.54%US$26.00US$17.50n/a13
Sep ’26US$19.30
US$21.46
+11.18%
11.31%US$26.00US$17.50n/a12
Aug ’26US$19.24
US$21.54
+11.96%
11.43%US$26.00US$17.50n/a12
Jul ’26US$19.10
US$21.15
+10.75%
12.83%US$26.00US$18.00n/a13
Jun ’26US$17.60
US$21.23
+20.63%
13.47%US$26.00US$18.00n/a13
May ’26US$17.86
US$21.69
+21.46%
11.63%US$26.00US$18.00n/a13
Apr ’26US$21.47
US$22.21
+3.47%
9.95%US$26.00US$19.00n/a14
Mar ’26US$21.60
US$21.93
+1.52%
10.69%US$26.00US$19.00n/a14
Feb ’26US$21.15
US$21.89
+3.51%
10.22%US$26.00US$18.50n/a14
Jan ’26US$18.38
US$20.73
+12.79%
11.14%US$24.00US$17.50n/a13
Dec ’25US$20.02
US$20.50
+2.40%
11.02%US$24.00US$17.00n/a14
Nov ’25US$17.33
US$19.93
+14.99%
10.81%US$23.00US$17.00n/a14
Oct ’25US$18.54
US$20.21
+9.03%
10.61%US$23.00US$17.00US$18.3014
Sep ’25US$19.20
US$20.40
+6.25%
10.71%US$23.00US$17.00US$19.3015
Aug ’25US$18.99
US$20.07
+5.67%
10.53%US$23.00US$17.00US$19.2415
Jul ’25US$19.03
US$19.57
+2.82%
10.09%US$23.00US$16.50US$19.1015
Jun ’25US$18.01
US$19.50
+8.27%
10.13%US$23.00US$16.50US$17.6015
May ’25US$17.78
US$19.16
+7.74%
12.23%US$23.00US$15.00US$17.8616
Apr ’25US$18.39
US$18.00
-2.12%
11.16%US$22.00US$14.50US$21.4715
Mar ’25US$17.31
US$17.87
+3.22%
11.22%US$22.00US$14.00US$21.6015
Feb ’25US$16.26
US$17.50
+7.63%
11.38%US$22.00US$14.00US$21.1516
Jan ’25US$15.95
US$17.28
+8.35%
12.32%US$22.00US$13.50US$18.3816
Dec ’24US$16.34
US$17.28
+5.76%
12.32%US$22.00US$13.50US$20.0216
Nov ’24US$15.87
US$16.78
+5.74%
11.92%US$21.00US$13.50US$17.3316
Oct ’24US$16.12
US$16.80
+4.22%
11.39%US$21.00US$14.00US$18.5415
US$21.19
Fair Value
14.7% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/03 11:50
End of Day Share Price 2025/10/03 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Plains GP Holdings, L.P. is covered by 36 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ethan BellamyBaird
Theresa ChenBarclays
Richard GrossBarclays