Plains GP Holdings LPPAGP +0.60%74 Return-on-Tangible-Equity is Negative Tangible Equity% as of Mar. 2026. GuruFocus rates PAGP with a GF Score™ of 74/100 and a GF Value™ of $19.56 (Modestly Overvalued). The stock has 11 warning signs investors should review. Among 944 Oil & Gas companies, Plains GP Holdings LP ranks better than 99.89% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Plains GP Holdings LP's annualized net income for the quarter that ended in Mar. 2026 was $80 Mil. Plains GP Holdings LP's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $-411 Mil. Therefore, Plains GP Holdings LP's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was Negative Tangible Equity%.
The historical rank and industry rank for Plains GP Holdings LP's Return-on-Tangible-Equity or its related term are showing as below:
PAGP'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 51.72 Med: 51.72 Max: 51.72
Current: Negative Tangible Equity
During the past 13 years, Plains GP Holdings LP's highest Return-on-Tangible-Equity was 51.72%. The lowest was 51.72%. And the median was 51.72%.
PAGP's Return-on-Tangible-Equity is ranked better than 99.89% of 944
companies
in the Oil & Gas industry
Industry Median: 6.73
vs PAGP: Negative Tangible Equity
Plains GP Holdings LP (NAS:PAGP) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Plains GP Holdings LP Return-on-Tangible-Equity Related Terms
Plains GP Holdings LP Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Plains GP Holdings LP's Return-on-Tangible-Equity 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.
Plains GP Holdings LP Return-on-Tangible-Equity Chart
PAGP vs HESM, GLNG, INSW: Return-on-Tangible-Equity Comparison
For the Oil & Gas Midstream subindustry, Plains GP Holdings LP's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Plains GP Holdings LP's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Plains GP Holdings LP's Return-on-Tangible-Equity 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 Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of Negative Tangible Equity% mean?
Plains GP Holdings LP (PAGP) has a Return-on-Tangible-Equity of Negative Tangible Equity% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Plains GP Holdings LP and its competitors. Over the past decade, Plains GP Holdings LP's Return-on-Tangible-Equity has ranged from 51.72 to 51.72. According to the industry distribution chart, Plains GP Holdings LP ranks #1 out of 944 companies in the Oil & Gas industry, placing it in the top 0.099999999999994%.
Is Plains GP Holdings LP's Return-on-Tangible-Equity too high?
Plains GP Holdings LP's current Return-on-Tangible-Equity is Negative Tangible Equity%. Over the past 10 years, this metric has ranged from a low of 51.72 to a high of 51.72. Based on the distribution chart, Plains GP Holdings LP ranks #1 out of 944 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Plains GP Holdings LP has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Plains GP Holdings LP's Return-on-Tangible-Equity compare to HESM and GLNG?
According to the Oil & Gas industry distribution chart, Plains GP Holdings LP ranks #1 out of 944 companies for Return-on-Tangible-Equity. This places Plains GP Holdings LP in the top 0% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.73. Historically, Plains GP Holdings LP's own Return-on-Tangible-Equity has ranged from 51.72 to 51.72 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Oil & Gas company?
The median Return-on-Tangible-Equity among Oil & Gas companies is 6.73, based on 944 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Plains GP Holdings LP and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Equity is 6.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Plains GP Holdings LP's current Return-on-Tangible-Equity is Negative Tangible Equity%. 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 $19.56, compared to a current price of $24.28 — trading 24.1% above its estimated fair value. The current Return-on-Tangible-Equity is Negative Tangible Equity%. Plains GP Holdings LP's overall GF Score™ is 74/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Plains GP Holdings LP (PAGP), the current Return-on-Tangible-Equity is Negative Tangible Equity% 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 $24.28 is trading 24.1% above its estimated GF Value™ of $19.56.
GuruFocus considers Plains GP Holdings LP to be Modestly Overvalued.
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.
74GF Score
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