PAA vs. NEE

Last updated Apr 2, 2026

Compare and contrast key facts about Plains All American Pipeline, L.P. (PAA) and NextEra Energy, Inc. (NEE).

Performance

PAA vs. NEE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Plains All American Pipeline, L.P. (PAA) and NextEra Energy, Inc. (NEE). The values are adjusted to include any dividend payments, if applicable.

PAA vs. NEE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAA Plains All American Pipeline, L.P.	23.95%	14.30%	21.38%	39.18%	35.79%	22.24%	-50.79%	-2.28%	2.31%	-31.34%
NEE NextEra Energy, Inc.	16.45%	15.47%	21.46%	-25.30%	-8.54%	23.39%	30.06%	42.69%	14.30%	34.39%

Fundamentals

Market Cap PAA : $15.38B NEE : $193.96B
EPS PAA : $2.04 NEE : $3.30
PE Ratio PAA : 10.69 NEE : 28.13
PEG Ratio PAA : 0.20 NEE : 1.43
PS Ratio PAA : 0.34 NEE : 7.00
PB Ratio PAA : 1.56 NEE : 3.55
Total Revenue (TTM) PAA : $44.80B NEE : $27.48B
Gross Profit (TTM) PAA : $2.17B NEE : $17.26B
EBITDA (TTM) PAA : $2.96B NEE : $15.53B

Returns By Period

In the year-to-date period, PAA achieves a 23.95% return, which is significantly higher than NEE's 16.45% return. Over the past 10 years, PAA has underperformed NEE with an annualized return of 8.51%, while NEE has yielded a comparatively higher 14.98% annualized return.

PAA

• 1D: -2.42%
• 1M: 2.06%
• YTD: 23.95%
• 6M: 33.63%
• 1Y: 18.03%
• 3Y*: 30.27%
• 5Y*: 28.39%
• 10Y*: 8.51%

NEE

• 1D: -0.03%
• 1M: 0.15%
• YTD: 16.45%
• 6M: 19.63%
• 1Y: 34.81%
• 3Y*: 9.55%
• 5Y*: 6.88%
• 10Y*: 14.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

PAA vs. NEE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAA

PAA Risk / Return Rank: 60
PAA Sharpe Ratio Rank: 66
PAA Sortino Ratio Rank: 57
PAA Omega Ratio Rank: 59
PAA Calmar Ratio Rank: 61
PAA Martin Ratio Rank: 59

NEE

NEE Risk / Return Rank: 80
NEE Sharpe Ratio Rank: 81
NEE Sortino Ratio Rank: 74
NEE Omega Ratio Rank: 75
NEE Calmar Ratio Rank: 86
NEE Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PAA vs. NEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Plains All American Pipeline, L.P. (PAA) and NextEra Energy, Inc. (NEE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PAA	NEE	Difference
Sharpe ratio Return per unit of total volatility	0.74	1.36	-0.62
Sortino ratio Return per unit of downside risk	1.10	1.82	-0.72
Omega ratio Gain probability vs. loss probability	1.16	1.25	-0.10
Calmar ratio Return relative to maximum drawdown	0.90	3.13	-2.24
Martin ratio Return relative to average drawdown	1.88	6.93	-5.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAA vs. NEE - Sharpe Ratio Comparison

The current PAA Sharpe Ratio is 0.74, which is lower than the NEE Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of PAA and NEE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PAA	NEE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	1.36	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.26	+0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.60	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.64	-0.34

Correlation

The correlation between PAA and NEE is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PAA vs. NEE - Dividend Comparison

PAA's dividend yield for the trailing twelve months is around 7.15%, more than NEE's 2.50% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAA Plains All American Pipeline, L.P.	7.15%	8.46%	7.44%	7.06%	7.08%	7.71%	10.92%	7.50%	5.99%	9.45%	8.21%	11.93%
NEE NextEra Energy, Inc.	2.50%	2.82%	2.87%	3.08%	2.03%	1.65%	1.81%	2.06%	2.55%	2.52%	2.91%	2.96%

Drawdowns

PAA vs. NEE - Drawdown Comparison

The maximum PAA drawdown since its inception was -91.99%, which is greater than NEE's maximum drawdown of -47.81%. Use the drawdown chart below to compare losses from any high point for PAA and NEE.

Drawdown Indicators

	PAA	NEE	Difference
Max Drawdown Largest peak-to-trough decline	-91.99%	-47.81%	-44.18%
Max Drawdown (1Y) Largest decline over 1 year	-20.96%	-11.13%	-9.83%
Max Drawdown (5Y) Largest decline over 5 years	-26.11%	-44.97%	+18.86%
Max Drawdown (10Y) Largest decline over 10 years	-87.92%	-44.97%	-42.95%
Current Drawdown Current decline from peak	-14.22%	-2.30%	-11.92%
Average Drawdown Average peak-to-trough decline	-25.86%	-8.95%	-16.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.99%	5.03%	+4.96%

Volatility

PAA vs. NEE - Volatility Comparison

Plains All American Pipeline, L.P. (PAA) has a higher volatility of 6.54% compared to NextEra Energy, Inc. (NEE) at 5.20%. This indicates that PAA's price experiences larger fluctuations and is considered to be riskier than NEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAA	NEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	5.20%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	12.16%	14.66%	-2.50%
Volatility (1Y) Calculated over the trailing 1-year period	24.47%	25.78%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.13%	26.53%	+0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.28%	25.24%	+17.04%

Financials

PAA vs. NEE - Profitability Comparison

The chart below illustrates the profitability comparison between Plains All American Pipeline, L.P. and NextEra Energy, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PAA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Plains All American Pipeline, L.P. reported a gross profit of 712.00M and revenue of 10.56B. Therefore, the gross margin over that period was 6.7%.

NEE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, NextEra Energy, Inc. reported a gross profit of 3.77B and revenue of 6.56B. Therefore, the gross margin over that period was 57.5%.

PAA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Plains All American Pipeline, L.P. reported an operating income of 354.00M and revenue of 10.56B, resulting in an operating margin of 3.4%.

NEE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, NextEra Energy, Inc. reported an operating income of 1.59B and revenue of 6.56B, resulting in an operating margin of 24.2%.

PAA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Plains All American Pipeline, L.P. reported a net income of 342.00M and revenue of 10.56B, resulting in a net margin of 3.2%.

NEE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, NextEra Energy, Inc. reported a net income of 1.54B and revenue of 6.56B, resulting in a net margin of 23.4%.