<ul>
<li>想知道 Plains GP Holdings 现在是否是一个明智的投资选择吗？你并不孤单，因为投资者正在深入研究推动该股票价值的因素，以及是否存在隐藏的机会。</li>
<li>最近，股票在过去一周上涨了 3.4%，在过去一个月上涨了 4.3%，而在过去五年中，该股票的涨幅达到了令人印象深刻的 218.7%。这引发了关于其增长轨迹的讨论。</li>
<li>分析师们注意到，行业头条新闻指出对石油和天然气中游服务的需求更强，更新的合同和基础设施扩展交易在新闻中引起了轰动。这种关注为 Plains GP Holdings 的股价和市场情绪的最新变化提供了新的背景。</li>
<li>在估值方面，该公司目前在我们对低估的关键检查中得分为 2 分（满分 6 分）。接下来，我们将深入探讨估值方法。请继续关注文章末尾的视角，以进一步分析估值。</li>
</ul>
<p>Plains GP Holdings 在我们的估值检查中仅得 2/6 分。查看我们在完整估值分析中发现的其他警示信号。</p>
<h3>方法 1：Plains GP Holdings 折现现金流（DCF）分析</h3>
<p>折现现金流（DCF）模型通过预测公司的未来现金流并将其折现回今天的价值来估算公司的内在价值。这帮助投资者确定股票的真实价值，基于其预期的财务表现，而不仅仅依赖于当前的市场价格。</p>
<p>根据最新的过去十二个月数据，Plains GP Holdings 目前报告的自由现金流（FCF）为 22.6 亿美元。分析师预测到 2026 年自由现金流将达到约 15.9 亿美元，到 2029 年底将增加到 18 亿美元。除了分析师的估计外，基于稳定增长假设的预测显示，预计到 2035 年自由现金流将达到约 22.1 亿美元。所有现金流数据均以美元计。</p>
<p>基于这些预测，两阶段 DCF 模型计算出的每股内在价值为 115.56 美元。与当前股价相比，该模型表明该股票的交易价格比其估计的公允价值低 84.0%。根据这种方法，Plains GP Holdings 可能被显著低估。</p>
<p><strong>结果：低估</strong></p>
<p>我们的折现现金流（DCF）分析表明 Plains GP Holdings 被低估了 84.0%。在你的观察列表或投资组合中跟踪此信息，或发现基于现金流的 927 只其他被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/dcf"/></p>
<p>截至 2025 年 11 月的 PAGP 折现现金流</p>
<p>前往我们公司报告的估值部分，了解我们如何得出 Plains GP Holdings 的公允价值的更多细节。</p>
<h3>方法 2：Plains GP Holdings 价格与收益</h3>
<p>市盈率（PE）是评估盈利公司价值的广泛使用指标，因为它直接将公司的收益与当前股价联系起来。这帮助投资者看到他们为每一美元的利润支付了多少。这种方法使得在同一行业内以及与更广泛市场之间进行比较变得更加容易。</p>
<p>需要注意的是，什么构成合理的市盈率取决于各种因素。预期增长较高、盈利能力强或风险感知较低的公司通常会获得更高的市盈率。另一方面，增长缓慢或风险较大的公司则可能合理地获得较低的倍数。市场情绪和整体行业状况在塑造某一公司被认为正常的市盈率方面也起着关键作用。</p>
<p>目前，Plains GP Holdings 的市盈率为 59 倍。这显著高于石油和天然气行业的平均水平 13.3 倍以及类似同行的平均水平，后者约为 25 倍。为了提供一个量身定制的基准，Simply Wall St 为 Plains GP Holdings 计算的公允比率为 28.7 倍。公允比率的好处在于它考虑了公司的特定增长前景、盈利能力、商业风险和行业规模。这比对同行或行业平均水平的广泛比较提供了更细致的评估。</p>
<p>将 Plains GP Holdings 实际的市盈率 59 倍与其公允比率 28.7 倍进行比较，表明投资者支付的溢价显著高于合理水平，这表明该股票在这一指标上被高估。</p>
<p><strong>结果：高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 11 月的 NasdaqGS:PAGP 市盈率</p>
<p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1433 家内部人士正在大举押注于爆炸性增长的公司。</p>
<h3>提升你的决策能力：选择你的 Plains GP Holdings 故事</h3>
<p>之前，我们提到有一种更好的方式来理解估值，因此让我们向你介绍叙述。叙述就是你的投资故事，将你对公司未来收入、收益和利润率的预期与估计的公允价值结合在一起，所有这些都基于你认为接下来可能发生的事情。</p>
<p>通过将公司的更广泛故事与特定的财务预测联系起来，叙述帮助你看到你的观点如何转化为公允价值。这超越了数字本身，深入到它们背后的理由。叙述在 Simply Wall St 的社区页面上对所有人开放，使得先进而直观的投资思维对数百万用户可及。</p>
<p>通过叙述，您可以轻松地根据现实世界事件的发展更新您的投资观点，从新闻到财报公告，并立即将您的公允价值与当前价格进行比较，以发现机会。例如，对于 Plains GP Holdings，一位投资者可能会看到其韧性和行业顺风，导致公允价值估计高达每股 26.00 美元。另一位可能会关注商品风险，将其公允价值设定在接近 17.50 美元。叙述使得您能够看到、挑战并改善您的决策，利用投资前景背后的故事和数据。</p>
<p>您认为 Plains GP Holdings 的故事还有更多内容吗？请前往我们的社区，看看其他人怎么说！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/community-fair-value?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/community-fair-value"/></p>
<p>截至 2025 年 11 月的 NasdaqGS:PAGP 社区公允价值</p>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

PAGP

<p>Plains GP Holdings 的股票在五年内大幅上涨，增长了 218.7%。分析师指出，对石油和天然气中游服务的需求增加。折现现金流分析表明，该股票被低估了 84%，每股内在价值为 115.56 美元。然而，59 倍的市盈率表明，与行业平均水平相比，股票被高估。投资者在评估投资机会时应考虑这两种估值方法和市场情绪</p>

<ul>
<li>Wondering whether Plains GP Holdings is a smart buy right now? You are not alone, as investors are digging into what drives this stock’s value and if there may be hidden opportunities.</li>
<li>Recently, shares have edged up 3.4% in the past week and climbed 4.3% over the past month, while the stock has soared an impressive 218.7% over the last five years. This has fueled the conversation around its growth trajectory.</li>
<li>Analysts have taken note as industry headlines have pointed to stronger demand for oil and gas midstream services, with updated contracts and infrastructure expansion deals making waves in the news. This attention has provided fresh context for the latest shifts in Plains GP Holdings’ share price and market sentiment.</li>
<li>When it comes to valuation, the company currently holds a 2 out of 6 score based on our key checks for undervaluation. Next, we will dig into the valuation methods. Stay tuned for a perspective at the end of the article that takes valuation analysis one step further.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道 Plains GP Holdings 现在是否是一个明智的投资选择吗？你并不孤单，因为投资者正在深入研究推动该股票价值的因素，以及是否存在隐藏的机会。</li>
<li>最近，股票在过去一周上涨了 3.4%，在过去一个月上涨了 4.3%，而在过去五年中，该股票的涨幅达到了令人印象深刻的 218.7%。这引发了关于其增长轨迹的讨论。</li>
<li>分析师们注意到，行业头条新闻指出对石油和天然气中游服务的需求更强，更新的合同和基础设施扩展交易在新闻中引起了轰动。这种关注为 Plains GP Holdings 的股价和市场情绪的最新变化提供了新的背景。</li>
<li>在估值方面，该公司目前在我们对低估的关键检查中得分为 2 分（满分 6 分）。接下来，我们将深入探讨估值方法。请继续关注文章末尾的视角，以进一步分析估值。</li>
</ul>
</div><p>Plains GP Holdings scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.</p>
<div class="lb-trans"><p>Plains GP Holdings 在我们的估值检查中仅得 2/6 分。查看我们在完整估值分析中发现的其他警示信号。</p>
</div><h3>Approach 1: Plains GP Holdings Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Plains GP Holdings 折现现金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow (DCF) model estimates the intrinsic value of a company by projecting its future cash flows and discounting them back to today's dollars. This helps investors determine what the stock is truly worth based on its expected financial performance, instead of just relying on the current market price.</p>
<div class="lb-trans"><p>折现现金流（DCF）模型通过预测公司的未来现金流并将其折现回今天的价值来估算公司的内在价值。这帮助投资者确定股票的真实价值，基于其预期的财务表现，而不仅仅依赖于当前的市场价格。</p>
</div><p>Plains GP Holdings currently reports Free Cash Flow (FCF) of $2.26 Billion, according to the latest trailing twelve months. Analysts forecast FCF to be around $1.59 Billion by 2026, increasing to $1.80 Billion by the end of 2029. Beyond analyst estimates, projections are continued using a steady growth assumption, resulting in forecasted FCF reaching approximately $2.21 Billion by 2035. All cash flow figures are provided in US dollars.</p>
<div class="lb-trans"><p>根据最新的过去十二个月数据，Plains GP Holdings 目前报告的自由现金流（FCF）为 22.6 亿美元。分析师预测到 2026 年自由现金流将达到约 15.9 亿美元，到 2029 年底将增加到 18 亿美元。除了分析师的估计外，基于稳定增长假设的预测显示，预计到 2035 年自由现金流将达到约 22.1 亿美元。所有现金流数据均以美元计。</p>
</div><p>Based on these projections, the two-stage DCF model calculates an intrinsic value per share of $115.56. When comparing this to the current share price, the model indicates the stock is trading at an 84.0% discount to its estimated fair value. According to this approach, Plains GP Holdings may be significantly undervalued.</p>
<div class="lb-trans"><p>基于这些预测，两阶段 DCF 模型计算出的每股内在价值为 115.56 美元。与当前股价相比，该模型表明该股票的交易价格比其估计的公允价值低 84.0%。根据这种方法，Plains GP Holdings 可能被显著低估。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：低估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Plains GP Holdings is undervalued by 84.0%. Track this in your watchlist or portfolio, or discover 927 more undervalued stocks based on cash flows.</p>
<div class="lb-trans"><p>我们的折现现金流（DCF）分析表明 Plains GP Holdings 被低估了 84.0%。在你的观察列表或投资组合中跟踪此信息，或发现基于现金流的 927 只其他被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/dcf" alt="" original-src="https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/dcf"/></p>
<p>PAGP Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 PAGP 折现现金流</p>
</div><p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Plains GP Holdings.</p>
<div class="lb-trans"><p>前往我们公司报告的估值部分，了解我们如何得出 Plains GP Holdings 的公允价值的更多细节。</p>
</div><h3>Approach 2: Plains GP Holdings Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Plains GP Holdings 价格与收益</h3>
</div><p>The price-to-earnings (PE) ratio is a widely used metric for valuing profitable companies because it directly connects a company’s earnings to its current share price. This helps investors see how much they are paying for each dollar of profit. This approach makes it easier to compare across companies within the same industry as well as to the broader market.</p>
<div class="lb-trans"><p>市盈率（PE）是评估盈利公司价值的广泛使用指标，因为它直接将公司的收益与当前股价联系起来。这帮助投资者看到他们为每一美元的利润支付了多少。这种方法使得在同一行业内以及与更广泛市场之间进行比较变得更加容易。</p>
</div><p>It is important to note that what constitutes a fair PE ratio depends on various factors. Companies with higher expected growth, strong profitability, or lower perceived risk typically warrant a higher PE ratio. On the other hand, sluggish growth or greater risks can justify lower multiples. Market sentiment and overall industry conditions also play key roles in shaping what is considered normal for a given company.</p>
<div class="lb-trans"><p>需要注意的是，什么构成合理的市盈率取决于各种因素。预期增长较高、盈利能力强或风险感知较低的公司通常会获得更高的市盈率。另一方面，增长缓慢或风险较大的公司则可能合理地获得较低的倍数。市场情绪和整体行业状况在塑造某一公司被认为正常的市盈率方面也起着关键作用。</p>
</div><p>At present, Plains GP Holdings trades on a PE ratio of 59x. This is meaningfully higher than the oil and gas industry average of 13.3x and the average for similar peers, which sits around 25x. To provide a tailored benchmark, Simply Wall St’s proprietary Fair Ratio for Plains GP Holdings is calculated at 28.7x. The Fair Ratio is beneficial because it accounts for the company’s specific growth outlook, profitability, business risks, and scale within the industry. This gives a more nuanced assessment than broad comparisons against peers or industry averages.</p>
<div class="lb-trans"><p>目前，Plains GP Holdings 的市盈率为 59 倍。这显著高于石油和天然气行业的平均水平 13.3 倍以及类似同行的平均水平，后者约为 25 倍。为了提供一个量身定制的基准，Simply Wall St 为 Plains GP Holdings 计算的公允比率为 28.7 倍。公允比率的好处在于它考虑了公司的特定增长前景、盈利能力、商业风险和行业规模。这比对同行或行业平均水平的广泛比较提供了更细致的评估。</p>
</div><p>Comparing Plains GP Holdings’ actual PE ratio of 59x with its Fair Ratio of 28.7x suggests that investors are paying a significant premium above the justified level, which points to the stock being overvalued on this measure.</p>
<div class="lb-trans"><p>将 Plains GP Holdings 实际的市盈率 59 倍与其公允比率 28.7 倍进行比较，表明投资者支付的溢价显著高于合理水平，这表明该股票在这一指标上被高估。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：高估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:PAGP PE Ratio as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NasdaqGS:PAGP 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1433 companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1433 家内部人士正在大举押注于爆炸性增长的公司。</p>
</div><h3>Upgrade Your Decision Making: Choose your Plains GP Holdings Narrative</h3>
<div class="lb-trans"><h3>提升你的决策能力：选择你的 Plains GP Holdings 故事</h3>
</div><p>Earlier, we mentioned that there is an even better way to understand valuation, so let's introduce you to Narratives. A Narrative is simply your investment story, combining your expectations for a company’s future revenue, earnings, and profit margins with an estimated fair value, all grounded in what you believe could happen next.</p>
<div class="lb-trans"><p>之前，我们提到有一种更好的方式来理解估值，因此让我们向你介绍叙述。叙述就是你的投资故事，将你对公司未来收入、收益和利润率的预期与估计的公允价值结合在一起，所有这些都基于你认为接下来可能发生的事情。</p>
</div><p>By linking a company’s broader story to a specific financial forecast, Narratives help you see how your perspective translates into fair value. This moves beyond just the numbers to the rationale behind them. Narratives are available to everyone on Simply Wall St within the Community page, making advanced yet intuitive investment thinking accessible to millions of users.</p>
<div class="lb-trans"><p>通过将公司的更广泛故事与特定的财务预测联系起来，叙述帮助你看到你的观点如何转化为公允价值。这超越了数字本身，深入到它们背后的理由。叙述在 Simply Wall St 的社区页面上对所有人开放，使得先进而直观的投资思维对数百万用户可及。</p>
</div><p>With a Narrative, you can easily update your investment view as real-world events unfold, from news to earnings announcements, and instantly compare your fair value against the current price to spot opportunities. For Plains GP Holdings, for example, one investor might see resilience and sector tailwinds, leading to a fair value estimate as high as $26.00 per share. Another might focus on commodity risk and set their fair value closer to $17.50. Narratives make it possible to see, challenge, and improve your decision-making using both the story and the math behind your investment outlook.</p>
<div class="lb-trans"><p>通过叙述，您可以轻松地根据现实世界事件的发展更新您的投资观点，从新闻到财报公告，并立即将您的公允价值与当前价格进行比较，以发现机会。例如，对于 Plains GP Holdings，一位投资者可能会看到其韧性和行业顺风，导致公允价值估计高达每股 26.00 美元。另一位可能会关注商品风险，将其公允价值设定在接近 17.50 美元。叙述使得您能够看到、挑战并改善您的决策，利用投资前景背后的故事和数据。</p>
</div><p>Do you think there's more to the story for Plains GP Holdings? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>您认为 Plains GP Holdings 的故事还有更多内容吗？请前往我们的社区，看看其他人怎么说！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/community-fair-value" alt="" original-src="https://images.simplywall.st/company/fe6295e1-a55e-4ff2-95d4-e5e538024d2b/chart/community-fair-value"/></p>
<p>NasdaqGS:PAGP Community Fair Values as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NasdaqGS:PAGP 社区公允价值</p>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

评估 Plains GP Holdings 在经历了强劲的五年增长和行业扩张交易后的价值