Plains GP Holdings LPPAGP -1.76%76 PB Ratio is 3.64 as of Jun. 25, 2026, which is 98% above its 10-year median of 1.84. GuruFocus rates PAGP with a GF Score™ of 76/100 and a GF Value™ of $19.43 (Modestly Overvalued). The stock has 11 warning signs investors should review. Among 923 Oil & Gas companies, Plains GP Holdings LP ranks worse than 83.97% on this metric.
Plains GP Holdings LP stock PB Ratio (=3.7) is close to 10-year high of 4.03.
The historical rank and industry rank for Plains GP Holdings LP's PB Ratio or its related term are showing as below:
PAGP'
s PB Ratio Range Over the Past 10 Years
Min: 0.51 Med: 1.84 Max: 4.03
Current: 3.64
During the past 13 years, Plains GP Holdings LP's highest PB Ratio was 4.03. The lowest was 0.51. And the median was 1.84.
PAGP's PB Ratio is ranked worse than 83.97% of 923
companies
in the Oil & Gas industry
Industry Median: 1.42
vs PAGP: 3.64
During the past 12 months, Plains GP Holdings LP's average Book Value Per Share Growth Rate was -6.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -4.60% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -2.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -9.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Plains GP Holdings LP was 1.50% per year. The lowest was -20.10% per year. And the median was -11.55% per year.
Back to Basics: PB Ratio
Plains GP Holdings LP (NAS:PAGP) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* 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.
For the Oil & Gas Midstream subindustry, Plains GP Holdings LP's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Plains GP Holdings LP's PB Ratio distribution charts can be found below:
* The bar in red indicates where Plains GP Holdings LP's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Plains GP Holdings LP (PAGP) has a PB Ratio of 3.64 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Plains GP Holdings LP and its competitors. This is 98% above median its historical median of 1.84. Over the past decade, Plains GP Holdings LP's PB Ratio has ranged from 0.51 to 4.03. According to the industry distribution chart, Plains GP Holdings LP ranks #775 out of 923 companies in the Oil & Gas industry, placing it in the top 84%.
Is Plains GP Holdings LP's PB Ratio too high?
Plains GP Holdings LP's current PB Ratio of 3.64 is 98% above median its 10-year median of 1.84. Over the past 10 years, this metric has ranged from a low of 0.51 to a high of 4.03. The Oil & Gas industry median PB Ratio is 1.42. Plains GP Holdings LP's value of 3.64 is 156.3% above this industry median. Based on the distribution chart, Plains GP Holdings LP ranks #775 out of 923 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Plains GP Holdings LP has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Plains GP Holdings LP's PB Ratio compare to HESM and GLNG?
According to the Oil & Gas industry distribution chart, Plains GP Holdings LP ranks #775 out of 923 companies for PB Ratio. This places Plains GP Holdings LP in the lower half of its industry. The industry median PB Ratio is 1.42. Plains GP Holdings LP's value of 3.64 is 156.3% above this benchmark. Historically, Plains GP Holdings LP's own PB Ratio has ranged from 0.51 to 4.03 over the past decade. While the company's 10-year median is 1.84 vs. the industry median of 1.42, 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 PB Ratio for an Oil & Gas company?
The median PB Ratio among Oil & Gas companies is 1.42, based on 923 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Plains GP Holdings LP's current PB Ratio of 3.64 is 156.3% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Plains GP Holdings LP and its competitors. For the Oil & Gas industry, the median PB Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Plains GP Holdings LP's current PB Ratio is 3.64, which is 98% above median its own 10-year median of 1.84. 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 Modestly Overvalued. The stock's GF Value™ is $19.43, compared to a current price of $23.41 — trading 20.5% above its estimated fair value. The current PB Ratio is 3.64, which is 98% above median its 10-year median of 1.84 and 156.3% above the Oil & Gas industry median of 1.42. Plains GP Holdings LP's overall GF Score™ is 76/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Plains GP Holdings LP (PAGP), the current PB Ratio is 3.64 as of Jun. 25, 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 $23.41 is trading 20.5% above its estimated GF Value™ of $19.43.
GuruFocus considers Plains GP Holdings LP to be Modestly Overvalued.
Key valuation signals for PAGP:
PB Ratio: 3.64 (98% above median its 10-year median of 1.84)
GF Value™: $19.43 vs. price of $23.41 (20.5% above fair value)
Industry Position: 156.3% above the Oil & Gas median (#775 of 923)
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.
76GF Score
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