WallStSmart

Plains All American Pipeline LP (PAA)vsWilliams Companies Inc (WMB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Plains All American Pipeline LP generates 274% more annual revenue ($44.26B vs $11.83B). WMB leads profitability with a 22.1% profit margin vs 3.2%. PAA appears more attractively valued with a PEG of 2.35. WMB earns a higher WallStSmart Score of 67/100 (B-).

PAA

Buy

56

out of 100

Grade: C

Growth: 4.7Profit: 5.0Value: 10.0Quality: 5.0
Piotroski: 4/9

WMB

Strong Buy

67

out of 100

Grade: B-

Growth: 6.7Profit: 8.0Value: 9.3Quality: 3.3
Piotroski: 3/9Altman Z: 0.37
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

PAAUndervalued (+62.3%)

Margin of Safety

+62.3%

Fair Value

$52.42

Current Price

$22.15

$30.27 discount

UndervaluedFair: $52.42Overvalued
WMBUndervalued (+29.0%)

Margin of Safety

+29.0%

Fair Value

$100.15

Current Price

$73.81

$26.34 discount

UndervaluedFair: $100.15Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

PAA2 strengths · Avg: 9.0/10
EPS GrowthGrowth
145.8%10/10

Earnings expanding 145.8% YoY

Price/BookValuation
2.0x8/10

Reasonable price relative to book value

WMB4 strengths · Avg: 9.5/10
Operating MarginProfitability
41.2%10/10

Strong operational efficiency at 41.2%

EPS GrowthGrowth
50.8%10/10

Earnings expanding 50.8% YoY

Market CapQuality
$90.96B9/10

Large-cap with strong market position

Profit MarginProfitability
22.1%9/10

Keeps 22 of every $100 in revenue as profit

Areas to Watch

PAA4 concerns · Avg: 3.0/10
PEG RatioValuation
2.354/10

Expensive relative to growth rate

Profit MarginProfitability
3.2%3/10

3.2% margin — thin

Operating MarginProfitability
3.5%3/10

Operating margin of 3.5%

Revenue GrowthGrowth
-12.2%2/10

Revenue declined 12.2%

WMB4 concerns · Avg: 3.3/10
PEG RatioValuation
2.474/10

Expensive relative to growth rate

P/E RatioValuation
34.8x4/10

Premium valuation, high expectations priced in

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Free Cash FlowQuality
$-485.00M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : PAA

The strongest argument for PAA centers on EPS Growth, Price/Book.

Bull Case : WMB

The strongest argument for WMB centers on Operating Margin, EPS Growth, Market Cap. Profitability is solid with margins at 22.1% and operating margin at 41.2%.

Bear Case : PAA

The primary concerns for PAA are PEG Ratio, Profit Margin, Operating Margin. Thin 3.2% margins leave little buffer for downturns.

Bear Case : WMB

The primary concerns for WMB are PEG Ratio, P/E Ratio, Piotroski F-Score.

Key Dynamics to Monitor

PAA profiles as a value stock while WMB is a mature play — different risk/reward profiles.

WMB carries more volatility with a beta of 0.65 — expect wider price swings.

WMB is growing revenue faster at 8.7% — sustainability is the question.

PAA generates stronger free cash flow (637M), providing more financial flexibility.

Bottom Line

WMB scores higher overall (67/100 vs 56/100), backed by strong 22.1% margins. PAA offers better value entry with a 62.3% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Plains All American Pipeline LP

ENERGY · OIL & GAS MIDSTREAM · USA

Plains All American Pipeline, LP, is engaged in the transportation, completion, storage and collection of crude oil and natural gas liquids (NGL) through pipelines in the United States and Canada. The company is headquartered in Houston, Texas.

Williams Companies Inc

ENERGY · OIL & GAS MIDSTREAM · USA

The Williams Companies, Inc., is an American energy company based in Tulsa, Oklahoma. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets.

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