Pembina Pipeline (PBA) Stock Analysis

November 11, 2026

This is a peer-relative look at Pembina Pipeline (PBA): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Energy peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Pembina Pipeline (PBA)
Profile Item	PBA
Name	Pembina Pipeline Corp.
Country/Region	Canada
GICS Sector	Energy
GICS Industry Group	Energy
GICS Industry	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Oil & Gas Storage & Transportation
Market Capitalization	28.08 billion USD
Currency	USD
Exchange	NYSE
Listing Date	October 6, 2010
Security Type	Common Stock

Price Performance

Cumulative Growth

PBA

GSPC

Pembina Pipeline (PBA) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Pembina Pipeline (PBA) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Pembina Pipeline (PBA) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
Total Return (1Y)	35.84%	32.08%
Total Return (3Y, Annualized)	20.26%	14.39%
Total Return (5Y, Annualized)	12.46%	15.43%

Risk Profile

Drawdown History

PBA

GSPC

Pembina Pipeline (PBA) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Pembina Pipeline (PBA) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
Volatility (1Y, Annualized)	20.43%	41.29%
Beta (5Y)	0.59	0.66
Max Drawdown (5Y)	-27.37%	-52.09%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. PBA is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
Sharpe Ratio (1Y)	1.54	0.67
Sortino Ratio (1Y)	2.32	1.01

Profitability

ROE (TTM)

Pembina Pipeline (PBA) posts ROE of 12.10%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

PBA

Energy industry group

12.10%

Group distribution

Max: 53.85%
Q3: 24.79%
Median: 12.85%
PBA: 12.10%
Q1: 2.03%
Min: -29.09%

Largest peers

PBR: 30.27%
TTE: 17.83%
COP: 17.66%
SHEL: 17.43%
XOM: 15.53%
CVX: 13.85%
PBA: 12.10%

Where Pembina Pipeline (PBA) stands on ROE within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Pembina Pipeline (PBA) keeps 24.78% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

PBA

Energy industry group

24.78%

Group distribution

Max: 56.92%
PBA: 24.78%
Q3: 22.92%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

Largest peers

PBA: 24.78%
PBR: 24.32%
COP: 16.76%
CVX: 11.92%
XOM: 10.46%
TTE: 10.46%
SHEL: 10.18%

Where Pembina Pipeline (PBA) stands on net margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Pembina Pipeline (PBA) turns 32.63% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

PBA

Energy industry group

32.63%

Group distribution

Max: 71.31%
Q3: 33.75%
PBA: 32.63%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

Largest peers

PBR: 44.68%
PBA: 32.63%
COP: 30.05%
TTE: 24.51%
SHEL: 18.76%
CVX: 17.89%
XOM: 16.98%

Where Pembina Pipeline (PBA) stands on operating margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
ROE (TTM)	12.10%	12.85%
ROA (TTM)	4.65%	5.49%
Net Margin (TTM)	24.78%	10.10%
Operating Margin (TTM)	32.63%	18.73%
Gross Margin (TTM)	38.23%	44.52%

Growth

Revenue Growth

Pembina Pipeline (PBA) grew revenue 5.34%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Pembina Pipeline (PBA): Revenue Growth across different time periods, set against Energy industry-group medians.

EPS Growth

Pembina Pipeline (PBA) grew earnings per share -11.33%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Pembina Pipeline (PBA): EPS Growth across different time periods, set against Energy industry-group medians.

Growth Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
Revenue Growth (YoY)	5.34%	0.51%
Revenue Growth (3Y CAGR)	-12.50%	0.37%
EPS Growth (YoY)	-11.33%	-11.75%
EPS Growth (3Y CAGR)	-19.61%	-12.07%

Financial Strength

Current Ratio (MRQ)

Pembina Pipeline (PBA) has current ratio of 0.75, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

PBA

Energy industry group

0.75

Group distribution

Max: 3.64
Q3: 2.21
Median: 1.41
Q1: 0.88
PBA: 0.75
Min: 0.24

Largest peers

COP: 1.52
SHEL: 1.38
CVX: 1.34
XOM: 1.19
TTE: 1.11
PBR: 0.85
PBA: 0.75

Where Pembina Pipeline (PBA) stands on current ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Pembina Pipeline (PBA) has debt-to-equity ratio of 0.80, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

PBA

Energy industry group

0.80

Group distribution

Max: 1.75
Q3: 0.93
PBA: 0.80
Median: 0.54
Q1: 0.30
Min: 0.00

Largest peers

PBA: 0.80
PBR: 0.76
TTE: 0.46
SHEL: 0.38
COP: 0.35
CVX: 0.17
XOM: 0.13

Where Pembina Pipeline (PBA) stands on debt-to-equity ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
Current Ratio (MRQ)	0.75	1.41
Debt / Equity (MRQ)	0.80	0.54
Net Debt / EBITDA	3.74	1.13

Dividends

Dividend Yield (TTM)

Pembina Pipeline (PBA) has dividend yield of 6.13%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

PBA

Energy industry group

6.13%

Group distribution

Max: 8.57%
PBA: 6.13%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

Largest peers

PBR: 19.51%
PBA: 6.13%
TTE: 4.58%
CVX: 3.31%
XOM: 2.49%
COP: 2.48%
SHEL: 1.54%

Where Pembina Pipeline (PBA) stands on dividend yield within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Pembina Pipeline (PBA) has payout ratio of 86.79%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

PBA

Energy industry group

86.79%

Group distribution

Max: 133.24%
PBA: 86.79%
Q3: 53.31%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

Largest peers

PBA: 86.79%
CVX: 51.76%
XOM: 42.39%
TTE: 39.93%
COP: 35.41%
PBR: 28.93%
SHEL: 26.24%

Where Pembina Pipeline (PBA) stands on payout ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
Dividend Yield (TTM)	6.13%	1.71%
Dividend Payout Ratio (TTM)	86.79%	25.24%

Valuation

P/E Ratio (TTM)

Pembina Pipeline (PBA) trades at P/E ratio of 20.12, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

PBA

Energy industry group

20.12

Group distribution

Max: 39.54
Q3: 21.72
PBA: 20.12
Median: 12.19
Q1: 7.71
Min: 2.99

Largest peers

PBA: 20.12
XOM: 17.06
CVX: 15.61
COP: 14.36
TTE: 8.76
SHEL: 8.60
PBR: 4.68

Where Pembina Pipeline (PBA) stands on P/E ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Pembina Pipeline (PBA) trades at 3.36 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.

PBA

Energy industry group

3.36

Group distribution

Max: 5.40
PBA: 3.36
Q3: 2.85
Median: 1.69
Q1: 0.88
Min: 0.00

Largest peers

PBA: 3.36
COP: 2.34
CVX: 1.83
XOM: 1.74
TTE: 0.90
SHEL: 0.87
PBR: 0.22

Where Pembina Pipeline (PBA) stands on P/S ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Pembina Pipeline (PBA) trades at 2.55 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

PBA

Energy industry group

2.55

Group distribution

Max: 4.21
PBA: 2.55
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

Largest peers

PBA: 2.55
XOM: 2.55
COP: 2.44
CVX: 2.13
TTE: 1.46
SHEL: 1.43
PBR: 1.25

Where Pembina Pipeline (PBA) stands on P/B ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Pembina Pipeline (PBA) metric values compared with Energy industry-group medians
Metric	Current stock: PBA	Industry group median
P/E Ratio (TTM)	20.12	12.19
P/S Ratio (TTM)	3.36	1.69
P/B Ratio (MRQ)	2.55	1.51
Free Cash Flow Yield (TTM)	5.53%	5.94%