Plains GP Holdings, L.P. (PAGP) Balance Sheet: Assets & Liabilities

Plains GP Holdings, L.P. (PAGP) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Plains GP Holdings, L.P. reported total assets of $31.28B and total liabilities of $17.06B. Shareholders' equity was $1.34B, down 90.6% from $14.32B a year earlier. Total debt stood at $11.49B against $329.00M in cash and short-term investments, a net debt position of $11.16B. That puts debt-to-equity at 8.54, compared with 0.53 a year earlier.

Plains GP Holdings, L.P. Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Plains GP Holdings, L.P. (PAGP) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	0.33	0.35	0.45	0.40	0.45	0.06	0.05	0.07	0.04
Cash & Short-Term Investments	0.33	0.35	0.45	0.48	0.45	0.06	0.05	0.07	0.04
Accounts Receivable	3.60	3.68	3.76	3.91	4.71	2.55	3.72	2.45	3.03
Inventory	0.21	0.26	0.55	0.73	0.78	0.65	0.60	0.64	0.71
Other Current Assets	0.57	0.49	0.16	0.32	0.20	0.41	0.24	0.37	0.22
Total Current Assets	4.70	4.78	4.92	5.36	6.14	3.67	4.61	3.53	4.00
Non-Current Assets
Property, Plant & Equipment (Net)	17.06	13.64	16.10	15.60	15.30	15.00	15.83	14.79	14.11
Long-Term Investments	2.85	2.81	2.82	3.08	3.81	3.86	3.68	2.70	2.76
Goodwill	0.00	0.00	0.00	0.00	0.00	0.00	2.54	2.52	2.57
Intangible Assets	1.75	1.68	1.88	2.15	1.96	0.81	0.71	0.77	0.84
Other Non-Current Assets	3.78	4.86	1.65	3.02	1.41	1.18	2.59	0.66	1.94
Total Non-Current Assets	26.57	22.98	23.68	23.85	23.84	22.28	25.36	21.98	22.75
Total Assets	31.28	27.76	28.60	29.21	29.98	25.95	29.97	25.51	26.75
Current Liabilities
Accounts Payable	3.46	3.65	3.85	4.05	4.81	2.43	3.69	2.71	3.32
Short-Term Debt	0.59	0.41	0.45	1.16	0.82	0.91	0.64	0.07	0.74
Current Portion of Long-Term Debt	-	-	-	-	0.75	-	-	-	-
Accrued Liabilities	-	0.02	0.01	0.01	0.01	-	-	-	-
Deferred Revenue	0.00	0.08	0.00	0.00	0.06	0.36	0.00	0.00	-3.37
Other Current Liabilities	0.86	0.87	0.71	0.69	0.60	0.56	0.69	0.69	0.47
Total Current Liabilities	4.90	4.92	5.01	5.89	6.23	4.26	5.02	3.46	4.53
Non-Current Liabilities
Long-Term Debt	10.90	7.21	7.58	7.29	8.40	9.70	9.57	9.14	9.18
Deferred Tax Liabilities	0.20	0.46	0.54	0.55	0.48	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	1.06	1.11	0.51	1.08	0.83	0.81	0.86	0.91	0.68
Total Non-Current Liabilities	12.16	8.52	8.62	8.68	9.57	10.51	10.43	10.05	9.86
Total Liabilities	17.06	13.44	13.63	14.38	15.80	14.76	15.45	13.51	14.40
Stockholders' Equity
Common Stock	1.35	1.35	1.55	1.52	1.53	1.46	2.16	1.85	1.70
Retained Earnings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.84	-1.72
Accumulated Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-3.10	-2.80
Additional Paid-in Capital	0.00	1.35	0.00	0.00	0.00	0.00	0.00	-0.81	10.64
Minority Interest	12.87	12.97	13.42	13.11	12.64	9.73	12.33	11.47	10.66
Shares Outstanding	0.20	0.20	0.20	0.19	0.19	-	-	-	-
Total Stockholders' Equity	1.35	14.32	1.55	14.83	1.53	1.46	2.19	1.04	12.36
Total Liabilities & Equity	31.28	27.76	28.60	29.21	29.98	25.95	29.97	25.51	26.75

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Plains GP Holdings, L.P. Balance Sheet

How much debt does Plains GP Holdings, L.P. have?

Plains GP Holdings, L.P. had total debt of $11.49B as of Dec 31, 2025, against $329.00M in cash and short-term investments. Its debt-to-equity ratio was 8.54. Total debt was $7.62B a year earlier.

What are Plains GP Holdings, L.P.'s total assets?

Plains GP Holdings, L.P. reported total assets of $31.28B as of Dec 31, 2025, up 12.7% from $27.76B a year earlier. Total liabilities were $17.06B.

What is Plains GP Holdings, L.P.'s shareholders' equity?

Plains GP Holdings, L.P.'s shareholders' equity was $1.34B as of Dec 31, 2025, or about $6.80 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition