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Plains GP Holdings LPPAGP +1.83%77 Debt-to-EBITDA is 4.02 as of Mar. 2026, which is 21% above its 10-year median of 3.31. GuruFocus rates PAGP with a GF Score™ of 77/100 and a GF Value™ of $19.90 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 705 Oil & Gas companies, Plains GP Holdings LP ranks worse than 74.61% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Plains GP Holdings LP's Debt-to-EBITDA or its related term are showing as below:
PAGP'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -6.95 Med: 3.31 Max: 6.83
Current: 4.12
During the past 13 years, the highest Debt-to-EBITDA Ratio of Plains GP Holdings LP was 6.83. The lowest was -6.95. And the median was 3.31.
PAGP's Debt-to-EBITDA is ranked worse than 74.61% of 705
companies
in the Oil & Gas industry
Industry Median: 2.01
vs PAGP: 4.12
Plains GP Holdings LP (NAS:PAGP) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Plains GP Holdings LP Debt-to-EBITDA Related Terms
Plains GP Holdings LP Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Plains GP Holdings LP's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PAGP vs HESM, GLNG, INSW: Debt-to-EBITDA Comparison
For the Oil & Gas Midstream subindustry, Plains GP Holdings LP's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Plains GP Holdings LP Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Plains GP Holdings LP's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Plains GP Holdings LP's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Plains GP Holdings LP (PAGP) has a Debt-to-EBITDA of 4.02 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Plains GP Holdings LP. This is 21% above median its historical median of 3.31. According to the industry distribution chart, Plains GP Holdings LP ranks #526 out of 705 companies in the Oil & Gas industry, placing it in the top 74.6%.
Is Plains GP Holdings LP's Debt-to-EBITDA too high?
Plains GP Holdings LP's current Debt-to-EBITDA of 4.02 is 21% above median its 10-year median of 3.31. The Oil & Gas industry median Debt-to-EBITDA is 2.01. Plains GP Holdings LP's value of 4.02 is 100% above this industry median. Based on the distribution chart, Plains GP Holdings LP ranks #526 out of 705 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Plains GP Holdings LP has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Plains GP Holdings LP's Debt-to-EBITDA compare to HESM and GLNG?
According to the Oil & Gas industry distribution chart, Plains GP Holdings LP ranks #526 out of 705 companies for Debt-to-EBITDA. This places Plains GP Holdings LP in the lower half of its industry. The industry median Debt-to-EBITDA is 2.01. Plains GP Holdings LP's value of 4.02 is 100% above this benchmark. While the company's 10-year median is 3.31 vs. the industry median of 2.01, Plains GP Holdings LP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Oil & Gas company?
The median Debt-to-EBITDA among Oil & Gas companies is 2.01, based on 705 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Plains GP Holdings LP's current Debt-to-EBITDA of 4.02 is 100% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Plains GP Holdings LP. For the Oil & Gas industry, the median Debt-to-EBITDA is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Plains GP Holdings LP's current Debt-to-EBITDA is 4.02, which is 21% above median its own 10-year median of 3.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Plains GP Holdings LP stock overvalued right now?
Based on GuruFocus' analysis, Plains GP Holdings LP (PAGP) is currently considered Significantly Overvalued. The stock's GF Value™ is $19.90, compared to a current price of $26.09 — trading 31.1% above its estimated fair value. The current Debt-to-EBITDA is 4.02, which is 21% above median its 10-year median of 3.31 and 100% above the Oil & Gas industry median of 2.01. Plains GP Holdings LP's overall GF Score™ is 77/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Plains GP Holdings LP (PAGP), the current Debt-to-EBITDA is 4.02 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Plains GP Holdings LP (PAGP) Overvalued in 2026?
Based on GuruFocus' analysis, Plains GP Holdings LP stock appears to be overvalued.
The current stock price of $26.09 is trading 31.1% above its estimated GF Value™ of $19.90.
GuruFocus considers Plains GP Holdings LP to be Significantly Overvalued.
Key valuation signals for PAGP:
Debt-to-EBITDA: 4.02 (21% above median its 10-year median of 3.31)
GF Value™: $19.90 vs. price of $26.09 (31.1% above fair value)
Industry Position: 100% above the Oil & Gas median (#526 of 705)
No single metric tells the full story. See the PAGP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), and natural gas. The group manages its operations through two operating segments: Crude Oil segment operations generally consist of gathering and transporting crude oil using pipelines (including gathering systems), trucks, and, at times, on barges or railcars; and NGL segment operations involve NGL storage and terminalling from NGL assets located in the Southwestern United States. It generates the majority of its revenue from the Crude Oil segment. Its geographic markets are the United States and Canada. It generates the majority of its revenue from the United States.
77GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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