Zacks Investment ResearchT3·10h ago
PAA Plains All American Pipeline, L.P. Common Units representing Limited Partner Interests
XNAS
25.90
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
PAA
$25.90
—
Key stats
$25.90
- 52-Week Range
- $16.00 – $26.39
- YTD
- +42.23%
- IV Rank (30D)
- 33.05
- Straddle Price
- $1.43
- P/C Vol Ratio
- 1.05
- Market Cap
- $18.3B
- Open
- $25.98
- Day Range
- $25.48 – $26.02
- Volume
- 2,220,065
- Prev Close
- $25.89
Fair Value
+50.0% vs price
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 5.15% |
| Beta vs SPY | 0.66 |
| Cost of Equity (CAPM) | 8.46% (VRP-adj) |
| WACC | 7.74% |
| Volatility Risk Premium | +35.8pp (IV − HV30) |
| Effective Tax Rate | 7.0% |
| Rev. Growth (YoY, DCF input) | +30.0% |
| DCF Horizon | 10 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.10 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $2.3B |
| Return on Equity (TTM) | 23.0% |
| Book / Price | 78.3% — banking bias active (P/B is primary) |
| Gross Margin (TTM) | 7.8% |
| FCF Margin (TTM) | 4.5% |
| Debt / Equity | 0.59 |
| Quality Score | 3/6 — normal (10y DCF) |
| Market-Implied Growth | -6.9% (reverse-DCF on current price) |
| SMA 50 | $24.86 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $24.55 |
| Bollinger Width / SMA20 | 41.3% (drives anchor stability) |
| Net Debt | $7.4B |
| Market Cap | $18B |
Peers used for multiples: ENB, ET, MPLX, PAGP
(filtered from 8 ETF-co-members; sector bias active)
Blended Fair Value
$93.03
Deviation
+50.0%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | $317.05 | 19% | |
| DDM (Gordon) | $62.19 | 15% | |
| Peer P/E | $51.36 | 8% | median 12.9× · 4 peers |
| Peer EV/EBITDA | $34.21 | 8% | median 11.2× · 4 peers |
| Peer P/B | $58.46 | 2% | median 2.9× · 4 peers |
| Peer P/S | $97.90 | 6% | median 1.2× · 4 peers |
| Market Anchor (SMA50) | $24.86 | 24% | stability 63% (BB-width) |
| Options Expected (B-L 30d) | $26.60 | 19% | 27 strikes · skew -0.84 |
As of 2026-10-22 · updated
Related
About
- Industry (SIC)
- PIPE LINES (NO NATURAL GAS) (4610) · industry map
- Exchange
- XNAS
- Market Cap
- $18.3B
- Employees
- 4,200
- List Date
- 1998-11-18
- CIK
- 0001070423
- Next Earnings
- 2026-11-06 (Pre-Market)
- EPS Forecast
- $0.40 (5 est.)
- Headquarters
- Houston, TX
- Homepage
- https://www.plainsallamerican.com
Plains All American Pipeline LP, through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, barges, or railcars. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminalling. It generates the majority of its revenue from the Crude Oil segment.
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 2.07% | 9.79% | 7.88% | 0.92% | 14.32% | 5.66% | 6.77% |
| Feb | 0.48% | -6.54% | 5.92% | 6.00% | 2.21% | 8.91% | 2.83% |
| Mar | 0.66% | 1.41% | -5.17% | 5.85% | 0.25% | 4.59% | 1.26% |
| Apr | -1.20% | -4.87% | -0.69% | -2.66% | -13.26% | 5.64% | -2.84% |
| May | 14.08% | 9.62% | 0.23% | 0.47% | -1.02% | 0.31% | 3.95% |
| Jun | 3.65% | -16.14% | 7.14% | 6.63% | 8.98% | -2.92% | 1.22% |
| Jul | -14.52% | 9.31% | 4.79% | 0.89% | 0.94% | 10.03% | 1.91% |
| Aug | -4.01% | 7.11% | 3.67% | -0.33% | 0.00% | 5.99% | 2.07% |
| Sep | 8.31% | -9.31% | -0.84% | -1.42% | -3.56% | -8.28% | -2.52% |
| Oct | -0.88% | 9.52% | -0.20% | -7.08% | -3.46% | 9.28%* | 1.20% |
| Nov | -12.18% | 1.55% | 3.25% | 13.91% | 6.81% | -- | 2.67% |
| Dec | 1.41% | -3.76% | -4.84% | -6.72% | 2.69% | -- | -2.24% |
| Total | -5.38% | 3.42% | 22.07% | 15.57% | 12.97% | 44.73% | 15.56% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $24.61
SMA 50: $24.91
SMA 200: $22.59
Current: $25.90
EMA 12: $25.17
EMA 26: $24.92
MACD: 0.2531 | Signal: 0.1875
BULLISH
ADX (14): 23.91
WEAK TREND
+DI: 25.37
−DI: 10.27
Momentum Oscillators
RSI (14): 70.66
OVERBOUGHT
Stoch %K: 96.41
Stoch %D: 93.44
Williams %R: -5.37
Volume & Volatility
BB Upper: $25.99
BB Lower: $23.23
NEUTRAL
OBV: 64,482,468
Vol SMA 20: 2,255,431
Vol ROC: 12.98%
ATR: $0.47
True Range: $0.54
HV 20: 15.0%
HV 30: 16.0%
HV 60: 20.1%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
LLM Stock Analysis Report: PAA
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers and Primary Risks:
- Technical signals indicate an overbought condition, with RSI above 70 and Bollinger Bands signaling a potential reversal.
- Recent news headlines suggest a neutral sentiment, with no major catalysts driving significant moves in the stock price.
Investment Thesis: PAA's current technical setup suggests caution, as the stock is trading near its upper Bollinger Band. While recent earnings updates have been positive, the options market pricing implies a relatively stable outlook. A potential pullback or consolidation period could present a buying opportunity.
Recent News Sentiment Impact: Neutral news headlines have not significantly impacted the stock price, with sentiment remaining steady.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): NEUTRAL
- Medium-term (1-3 months): BEARISH
- Long-term (3-12 months): BULLISH
Support/Resistance Levels:
- Resistance: $24.15 (current price), $25.30 (upper Bollinger Band)
- Support: $22.09 (SMA 50), $21.29 (lower Bollinger Band)
Momentum Signals:
- RSI Interpretation: Overbought (>70) - potential sell signal
- MACD Signal: Bullish - momentum is supportive, but caution advised due to overbought conditions
- Bollinger Bands Position: Squeeze - price near upper band, indicating a potential reversal
Volume Analysis:
- Volume Trends: Neutral - recent volume has been steady, but not overly bullish or bearish
- Institutional Interest Signals: Low - institutional activity is subdued, with no clear buying or selling pressure
News & Sentiment Analysis
Recent Headlines Summary:
- 5 neutral news headlines in the last 10 articles, with no major catalysts driving significant moves.
Sentiment Assessment: Neutral (50% positive, 30% negative, 20% neutral)
Catalyst Identification: None notable in recent news, but earnings updates and quarterly distributions could provide future catalysts.
Market Narrative: The technical setup suggests caution, as the stock is trading near its upper Bollinger Band. Recent news headlines have been neutral, with no major catalysts driving significant moves.
Risk & Volatility Assessment
Beta Interpretation: Low risk (beta <0.8) - PAA's price movements are less volatile than the broader market.
Volatility Regime: Current vs historical volatility levels: Medium-low (HV20 24.7%, HV30 22.4%) - volatility is relatively low, but not extremely low.
Options Market Signals:
- IV Rank: 38.4% (Medium) - shows if volatility is historically high/low
- Current IV: 45.5%
- Expected Move: $1.07 (27 DTE), 7-DTE: $0.75
Downside Protection: Support levels and risk management considerations: $22.09 (SMA 50) and $21.29 (lower Bollinger Band)
Market Context & Positioning
Sector Performance: Neutral - PAA's sector (Energy) has been steady, with no clear trends or catalysts driving significant moves.
Institutional Activity: Low - institutional activity is subdued, with no clear buying or selling pressure.
Correlation Analysis:
- R-squared: 0.43 - PAA's price movements are relatively correlated to the broader market
Relative Valuation: Position within trading range: Neutral - PAA's current price is within its historical trading range, providing some support for its value.
Key Levels & Action Items
Critical Price Levels:
- Resistance: $24.15 (current price), $25.30 (upper Bollinger Band)
- Support: $22.09 (SMA 50), $21.29 (lower Bollinger Band)
Breakout/Breakdown Levels: None notable, but a potential pullback or consolidation period could present a buying opportunity.
Time-Sensitive Catalysts: Earnings updates and quarterly distributions are the primary catalysts to watch.
Risk Management: Stop-loss levels and position sizing considerations: Consider setting stop-losses at $22.09 (SMA 50) and $21.29 (lower Bollinger Band), with a position size adjustment based on market conditions.
Generated
News
All PAA news →
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Showing 1–10 of 50
Page 1 of 5
Earnings History
17 of 23 under expected move
Avg Expected Move
3.57%
Avg Actual Move
1.51%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-02-09 | Pre-Market | 7.01% | 0.11% | 0.02x | Within |
| 2021-05-04 | Pre-Market | 4.44% | 1.30% | 0.29x | Within |
| 2021-08-03 | Pre-Market | 5.14% | 0.82% | 0.16x | Within |
| 2021-11-02 | Pre-Market | 6.14% | 0.09% | 0.01x | Within |
| 2022-02-09 | Pre-Market | 5.32% | 0.26% | 0.05x | Within |
| 2022-05-04 | Pre-Market | 6.53% | 3.64% | 0.56x | Within |
| 2022-08-03 | Pre-Market | 4.60% | 0.09% | 0.02x | Within |
| 2022-11-02 | Pre-Market | 4.33% | 1.14% | 0.26x | Within |
| 2023-02-08 | Pre-Market | 3.17% | 0.95% | 0.30x | Within |
| 2023-05-05 | Pre-Market | 3.10% | 5.30% | 1.71x | Exceeded |
| 2023-08-04 | Pre-Market | 2.45% | 1.36% | 0.56x | Within |
| 2023-11-03 | Pre-Market | 3.02% | 0.38% | 0.13x | Within |
| 2024-02-09 | Pre-Market | 3.45% | 0.33% | 0.10x | Within |
| 2024-05-03 | Pre-Market | 2.50% | 1.51% | 0.60x | Within |
| 2024-08-02 | Pre-Market | 1.94% | 3.22% | 1.66x | Exceeded |
| 2024-11-08 | Pre-Market | 2.25% | 2.81% | 1.25x | Exceeded |
| 2025-02-07 | Pre-Market | 2.62% | 3.05% | 1.16x | Exceeded |
| 2025-05-09 | Pre-Market | 2.36% | 2.95% | 1.25x | Exceeded |
| 2025-08-08 | Pre-Market | 2.80% | 0.06% | 0.02x | Within |
| 2025-11-05 | Pre-Market | 2.89% | 0.43% | 0.15x | Within |
| 2026-02-06 | Pre-Market | 1.88% | 2.85% | 1.52x | Exceeded |
| 2026-05-08 | Pre-Market | 2.26% | 1.67% | 0.74x | Within |
| 2026-09-09 | Pre-Market | 1.83% | 0.44% | 0.24x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
PAA Options Activity & IV Rank
PAA IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 24.3%
7-DTE IV: 30.7%
Expected Move: $1.43
7-DTE Move: $0.98
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 458
Put Volume: 480
P/C Volume: 1.048
NEUTRAL
Call OI: 66,951
Put OI: 12,132
P/C OI: 0.181
Total OI: 79,083
ATM Options Pricing
ATM Call: $0.42
ATM Put: $1.00
Call %: 1.6%
Put %: 3.9%
Chain Summary
Chain Volume: 10,618
Chain OI: 248,275
Last Updated: 10/22/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 96th percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
96%
vs own history
GEX tilt
+0.74
OI-weighted, today
Vanna tilt
-0.08
δ-sensitivity to IV
Charm tilt
-0.13
δ-decay vs time
? What is this?
· 49 ATM contracts, 91k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM 26.4% / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM 24.2% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)24.5LowOct 22
IV Rank (30 DTE)33.0MediumOct 22
Straddle Price (30 DTE)$1.43Oct 22
Beta Analysis
Risk Metrics
Beta: -0.3729
Alpha: 52.56%
Correlation: -0.2387
R-Squared: 5.7%
Stock Volatility: 19.9%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Negative beta - stock moves opposite to market
Beta & Alpha Over Time
Notable investors who own PAA
2 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Citadel Hedge fund Ken Griffin | $22.0M | #1089 of 6285 | new | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $5.1M | #963 of 4729 | +9.5% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
PAA Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 705,250,000 (as of 2026-06-30)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
13 filers$223.48M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | PEAK6 LLC | $48.98M | 21.92% | 2026-06-30 |
| 2 | GROUP ONE TRADING LLC Custodian | $45.80M | 20.50% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $42.25M | 18.91% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $34.28M | 15.34% | 2026-06-30 |
| 5 | Citadel Advisors LLC Custodian | $26.81M | 12.00% | 2026-06-30 |
| 6 | IMC-Chicago, LLC Custodian | $11.58M | 5.18% | 2026-06-30 |
| 7 | Simplex Trading, LLC Custodian | $7.27M | 3.25% | 2026-06-30 |
| 8 | Wolverine Trading, LLC Custodian | $3.28M | 1.47% | 2025-09-30 |
| 9 | BNP Paribas Financial Markets Custodian | $1.67M | 0.75% | 2026-06-30 |
| 10 | Wells Fargo & Company Custodian | $932.69K | 0.42% | 2026-06-30 |
| 11 | Brevan Howard Capital Management LP | $558.88K | 0.25% | 2026-06-30 |
| 12 | LCM Capital Management Inc | $68.04K | 0.03% | 2026-06-30 |
| 13 | HAP TRADING, LLC | $3.42K | <0.01% | 2025-09-30 |
11 filers$43.20M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $12.30M | 28.47% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $8.53M | 19.75% | 2026-06-30 |
| 3 | GROUP ONE TRADING LLC Custodian | $7.25M | 16.78% | 2026-06-30 |
| 4 | IMC-Chicago, LLC Custodian | $6.51M | 15.08% | 2026-06-30 |
| 5 | Simplex Trading, LLC Custodian | $3.69M | 8.55% | 2026-06-30 |
| 6 | Jane Street Group, LLC Custodian | $3.14M | 7.28% | 2026-06-30 |
| 7 | Wolverine Trading, LLC Custodian | $738.28K | 1.71% | 2025-09-30 |
| 8 | Brevan Howard Capital Management LP | $558.88K | 1.29% | 2026-06-30 |
| 9 | Millennium Management LLC Custodian | $358.39K | 0.83% | 2026-06-30 |
| 10 | SUMMIT SECURITIES GROUP LLC | $113.53K | 0.26% | 2026-06-30 |
| 11 | BLUEFIN CAPITAL MANAGEMENT, LLC | $1.53K | <0.01% | 2026-06-30 |
PAA Insider Trading (Form 4)
Latest: 2026-10-02Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-10-02 | Richard K. McGee | EVP, General Counsel & Sec. | Gift (G) | −120,000 RSU | — | EDGAR | |
| 2026-09-16 | John T Raymond | Director | Disp (D) | −20,376,259 RSU | — | EDGAR | |
| 2026-08-17 | Willie CW Chiang | Chairman & CEO | Mixed | +210,065 | $23.45 | -$3.20M | EDGAR |
| 2026-08-17 | Al Swanson | EVP & CFO | Mixed | +66,208 | $23.45 | -$1.01M | EDGAR |
| 2026-08-17 | PAA GP Holdings LLC | Director | Award (A) | +236,800 | — | EDGAR | |
| 2026-08-17 | Chris Herbold | Sr. VP Finance & CAO | Mixed | +86,368 | $23.45 | -$1.27M | EDGAR |
| 2026-08-17 | Jeremy L. Goebel | EVP & CCO | Mixed | +388,579 | $23.45 | -$5.91M | EDGAR |
| 2026-08-17 | Richard K. McGee | EVP, General Counsel & Sec. | Mixed | +66,208 | $23.45 | -$1.01M | EDGAR |
| 2026-08-17 | Chris R. Chandler | EVP & COO | Mixed | +388,579 | $23.45 | -$5.91M | EDGAR |
| 2026-01-08 | Richard K. McGee | EVP, General Counsel & Sec. | Grant (A) | +112,650 RSU | — | EDGAR | |
| 2025-08-18 | Willie CW Chiang | Chairman & CEO | Mixed | +340,279 | $17.78 | -$3.93M | EDGAR |
| 2025-08-18 | Chris Herbold | Sr. VP Finance & CAO | Mixed | +42,512 | $17.78 | -$414.0K | EDGAR |
| 2025-08-18 | Jeremy L. Goebel | EVP & CCO | Mixed | +138,199 | $17.78 | -$1.59M | EDGAR |
| 2025-08-18 | Richard K. McGee | EVP, General Counsel & Sec. | Mixed | +107,187 | $17.78 | -$1.24M | EDGAR |
| 2025-08-18 | Al Swanson | EVP & CFO | Mixed | +107,187 | $17.78 | -$1.24M | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
PAA Insider Holdings
10 insiders · @ $25.90
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | PAA GP Holdings LLC | Director | 233,059,630 | $6.04B | $0 | 12 | 2026-08-17 |
| 2 | Plains All American GP LLC | Director | 233,000,430 | $6.03B | $0 | 28 | 2025-08-18 |
| 3 | John T Raymond | Director | 1,599,616 | $41.43M | -$202.62M | 17 | 2026-09-16 |
| 4 | Willie CW Chiang | Chairman & CEO | 1,533,148 | $39.71M | $247.5K | 22 | 2026-08-17 |
| 5 | Jeremy L. Goebel | EVP & CCO | 1,407,515 | $36.45M | -$525.3K | 22 | 2026-08-17 |
| 6 | Chris R. Chandler | EVP & COO | 882,483 | $22.86M | $0 | 14 | 2026-08-17 |
| 7 | Richard K. McGee | EVP, General Counsel & Sec. | 672,561 | $17.42M | $0 | 31 | 2026-10-02 |
| 8 | Al Swanson | EVP & CFO | 668,109 | $17.30M | -$5.30M | 35 | 2026-08-17 |
| 9 | Chris Herbold | Sr. VP Finance & CAO | 327,441 | $8.48M | -$1.70M | 32 | 2026-08-17 |
| 10 | Gary R Petersen | Director | 68,200 | $1.77M | -$30.95M | 20 | 2025-01-10 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
PAA Board & Officers
As of SEC filings through Oct 7, 2026Directors 14
- Gary R Petersen · on file since Dec 2006
- John T Raymond · since Dec 23, 2010
- Victor Burk · since Nov 15, 2016
- PAA GP Holdings LLC (entity) · listed since Jan 2017
- Plains AAP, L.P. (entity) · listed since Jan 2017
- Plains All American GP LLC (entity) · listed since Jan 2017
- Plains Gp Holdings LP (entity) · listed since Jan 2017
- Willie CW Chiang · listed since Jul 2017
- Harry N Pefanis · listed since Aug 2017
- Alexandra Pruner · since Dec 10, 2018
- Lawrence Michael Ziemba · since Jan 8, 2020
- Kevin S McCarthy · since Oct 1, 2020
- Ellen DeSanctis · since Aug 15, 2022
- Cindy B Taylor · since May 11, 2026
Officers 7
- Willie CW Chiang · Chairman & CEO · listed since Mar 2020
- Al Swanson · EVP & CFO · listed since Aug 2022
- Dean Liollio · EVP & COO · since Oct 2, 2026
- Richard K. McGee · EVP, General Counsel & Sec. · listed since May 2014
- Jeremy L. Goebel · EVP & Cco · listed since May 2021
- Chris Herbold · Sr. VP Finance & CAO · listed since Aug 2022
- Russell Lee Montgomery · VP, Acctg & CAO · since Sep 1, 2026
10% owners 4
- PAA GP Holdings LLC (entity) · since Nov 15, 2016
- Plains AAP, L.P. (entity) · since Nov 15, 2016
- Plains All American GP LLC (entity) · since Nov 15, 2016
- Plains Gp Holdings LP (entity) · since Nov 15, 2016
Changes in the last 10 years (35)
| Oct 2, 2026 | Dean Liollio became EVP & COO |
| Sep 1, 2026 | Russell Lee Montgomery became VP, Acctg & CAO |
| May 11, 2026 | Cindy B Taylor became a director |
| Aug 16, 2022 | Chris Herbold listed as Sr. VP Finance & CAO (previously Sr. VP and Chief Acctg Officer) in SEC filings |
| Aug 16, 2022 | Al Swanson listed as EVP & CFO (previously Executive VP & CFO) in SEC filings |
| Aug 15, 2022 | Ellen DeSanctis became a director |
| May 18, 2021 | Jeremy L. Goebel listed as EVP & Cco (previously EVP - Commercial) in SEC filings |
| Jan 4, 2021 | Kayne Anderson Capital Advisors LP no longer listed as a director in SEC filings |
| Jan 4, 2021 | KAFU Holdings (QP), L.P. no longer listed as a director in SEC filings |
| Oct 1, 2020 | Kevin S McCarthy became a director |
| Oct 1, 2020 | Kayne Anderson Capital Advisors LP first listed as a director in an SEC filing |
| Oct 1, 2020 | KAFU Holdings (QP), L.P. first listed as a director in an SEC filing |
| Mar 18, 2020 | Willie CW Chiang listed as Chairman & CEO (previously CEO) in SEC filings |
| Jan 8, 2020 | Lawrence Michael Ziemba became a director |
| Jan 6, 2020 | Harry N Pefanis listed as President & CCO (previously President & COO) in SEC filings |
| Mar 1, 2019 | Jeremy L. Goebel became EVP - Commercial |
| Mar 1, 2019 | Chris R. Chandler became EVP & COO |
| Feb 19, 2019 | Willie CW Chiang listed as CEO (previously EVP & COO) in SEC filings |
| Dec 10, 2018 | Alexandra Pruner became a director |
| Aug 20, 2018 | Chris Herbold listed as Sr. VP and Chief Acctg Officer (previously VP-Acctg & Chief Acctg Officer) in SEC filings |
| Mar 26, 2018 | Willie CW Chiang listed as EVP & COO (previously EVP & COO (u.s.)) in SEC filings |
| Aug 16, 2017 | Harry N Pefanis first listed as a director in an SEC filing |
| Aug 14, 2017 | Oscar B. Brown became a director |
| Jul 6, 2017 | Willie CW Chiang first listed as a director in an SEC filing |
| Jan 4, 2017 | Plains Gp Holdings LP first listed as a director in an SEC filing |
| Jan 4, 2017 | Plains All American GP LLC first listed as a director in an SEC filing |
| Jan 4, 2017 | Plains AAP, L.P. first listed as a director in an SEC filing |
| Jan 4, 2017 | PAA GP Holdings LLC first listed as a director in an SEC filing |
| Nov 15, 2016 | Victor Burk became a director |
| Nov 15, 2016 | Plains Gp Holdings LP became a 10% owner |
| Nov 15, 2016 | Plains All American GP LLC became a 10% owner |
| Nov 15, 2016 | Plains AAP, L.P. became a 10% owner |
| Nov 15, 2016 | Paa Gp LLC became a director |
| Nov 15, 2016 | PAA GP Holdings LLC became a 10% owner |
| Nov 15, 2016 | Bobby S Shackouls became a director |
Not reported recently (12)
- Chris R. Chandler · Last reported as EVP & COO in an SEC filing dated Aug 17, 2026
- Greg L Armstrong · Last reported as a director in an SEC filing dated May 22, 2024
- Bobby S Shackouls · Last reported as a director in an SEC filing dated May 22, 2024
- Chris Temple · Last reported as a director in an SEC filing dated Dec 28, 2020
- Robert V Sinnott · Last reported as a director in an SEC filing dated Aug 17, 2020
- J Taft Symonds · Last reported as a director in an SEC filing dated Aug 16, 2019
- Daniel J Nerbonne · Last reported as EVP - Operations & Engineering in an SEC filing dated Dec 18, 2018
- Oscar B. Brown · Last reported as a director in an SEC filing dated Aug 22, 2017
- John vonBerg · Last reported as EVP - Commercial Activities in an SEC filing dated Aug 16, 2017
- Paa Gp LLC · Last reported as a director in an SEC filing dated Jan 4, 2017
- Phil D Kramer · Last reported as Exec. Vice President in an SEC filing dated Nov 17, 2016
- W David Duckett · Last reported as CEO of subsidiary - PMC in an SEC filing dated Nov 17, 2016
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
PAA Proposed Insider Sales (Form 144)
Latest: 2026-06-29
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
0 filings
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-06-29 | ZIEMBA FAMILY TRUST | Director | 2,346 | $51.5K | 2026-06-29 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2023-11-21 | MGMG Ventures LP | Officer | 35,000 | $541.5K | 2023-11-21 | UBS Financial Services Inc | — | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
27 ETFs hold PAA
25 shown · $2.27B total exposure · 0.18% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | AMLP Alerian MLP ETF | Nport | 13.67% | $1.7B | — | 2026-05-31 |
| 2 | MLPA Global X MLP ETF | Global X | 12.49% | $295.2M | — | 2026-10-21 |
| 3 | MLPX Global X MLP and Energy Infrastructure ETF | Global X | 3.97% | $144.0M | — | 2026-10-21 |
| 4 | AMZA InfraCap MLP ETF | Nport | 14.83% | $70.0M | — | 2026-07-31 |
| 5 | DIV Global X SuperDividend U.S. ETF | Global X | 2.59% | $19.7M | — | 2026-10-21 |
| 6 | MLPI NEOS MLP & Energy Infrastructure High Income ETF | Nport | 2.54% | $17.2M | — | 2026-06-30 |
| 7 | EIPI FT Energy Income Partners Enhanced Income ETF | First Trust | 1.30% | $14.2M | $1.1B | 2026-10-20 |
| 8 | TPYP Tortoise North American Pipeline ETF | Nport | 1.24% | $10.4M | — | 2026-05-31 |
| 9 | VRP Invesco Variable Rate Preferred ETF | Invesco | 0.28% | $8.3M | — | 2026-10-20 |
| 10 | BSCU Invesco BulletShares 2030 Corporate Bond ETF | Invesco | 0.19% | $5.3M | — | 2026-10-20 |
| 11 | ONEQ Fidelity Nasdaq Composite Index ETF | Fidelity | 0.04% | $4.3M | $10.9B | 2026-10-20 |
| 12 | BSCV Invesco BulletShares 2031 Corporate Bond ETF | Invesco | 0.23% | $4.2M | — | 2026-10-20 |
| 13 | HIPS GraniteShares HIPS U.S. High Income ETF | Nport | 2.95% | $3.2M | — | 2026-06-30 |
| 14 | MDIV Multi-Asset Diversified Income Index Fund | First Trust | 0.78% | $3.2M | $413.6M | 2026-10-20 |
| 15 | EINC VanEck Energy Income ETF | Nport | 2.76% | $3.0M | — | 2026-06-30 |
| 16 | ABLD Abacus FCF Real Assets Leaders ETF | Nport | 2.18% | $2.0M | — | 2026-07-31 |
| 17 | CZA Invesco Zacks Mid-Cap ETF | Nport | 0.84% | $1.6M | — | 2026-07-31 |
| 18 | BSCY Invesco BulletShares 2034 Corporate Bond ETF | Invesco | 0.24% | $1.6M | — | 2026-10-20 |
| 19 | BSCZ Invesco BulletShares 2035 Corporate Bond ETF | Invesco | 0.37% | $1.4M | — | 2026-10-20 |
| 20 | CVY Invesco Zacks Multi-Asset Income ETF | Nport | 0.93% | $1.2M | — | 2026-07-31 |
| 21 | TOLZ ProShares DJ Brookfield Global Infrastructure ETF | ProShares | 0.58% | $962,979 | — | 2026-10-21 |
| 22 | NDIV Amplify Energy & Natural Resources Covered Call ETF | Amplify | 0.98% | $331,192 | $33.6M | 2026-10-20 |
| 23 | GYLD Arrow Dow Jones Global Yield ETF | Nport | 0.68% | $254,619 | — | 2026-07-31 |
| 24 | VRAI Virtus Real Asset Income ETF | Nport | 1.21% | $225,798 | — | 2026-07-31 |
| 25 | BSCA Invesco BulletShares 2036 Corporate Bond ETF | Invesco | 0.38% | $129,711 | — | 2026-10-20 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
7.17
TTM Diluted EPS
$3.61
TTM Revenue
$52.30B
TTM Net Income
$2.55B
TTM Op. Cash Flow
$2.98B
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q2 '26 | 2026-06-30 | $17.69B | $1.77B | $2.51 | $955.00M |
| Q1 '26 | 2026-03-31 | $12.47B | $100.00M | $0.14 | $418.00M |
| Q4 '25 | 2025-12-31 | $10.56B | $289.00M | $0.41 | $786.00M |
| Q3 '25 | 2025-09-30 | $11.58B | $387.00M | $0.55 | $817.00M |
| Q2 '25 | 2025-06-30 | $10.64B | $150.00M | $0.21 | $694.00M |
| Q1 '25 | 2025-03-31 | $11.48B | $343.00M | $0.49 | $639.00M |
| Q4 '24 | 2024-12-31 | $12.04B | $-26.00M | $-0.04 | $727.00M |
| Q3 '24 | 2024-09-30 | $12.46B | $157.00M | $0.22 | $691.00M |
| Q2 '24 | 2024-06-30 | $12.76B | $180.00M | $0.26 | $653.00M |
| Q1 '24 | 2024-03-31 | $11.99B | $203.00M | $0.29 | $419.00M |
| Q4 '23 | 2023-12-31 | $12.70B | $248.00M | $0.36 | $1.01B |
| Q3 '23 | 2023-09-30 | $12.07B | $140.00M | $0.20 | $85.00M |
Q2 2026 • period ending 2026-06-30 • filed 2026-08-10
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
7.17
P/B
1.28
P/S
0.35
EV/EBITDA
9.99
EV/Sales
0.49
ROE
17.8%
ROA
8.7%
Div Yield
10.89%
FCF Yield
16.29%
Debt/Equity
0.59
Current Ratio
—
Market Cap
$18.27B
as of 2026-10-22
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
17.49M
SI % of Float
2.48%
Days to Cover
6.84
Short Vol Ratio
80.7%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-22