Stock fact sheet · data as of
Pembina Pipeline Corporation (PBA): fair value, margin of safety and Wheel Score
Ticker symbol PBA · Energy · Oil & Gas Midstream · Canada · Blend Income
Is PBA undervalued?
Pembina Pipeline Corporation (PBA) closed at 48.73 on 5 Nov 2026, 42% above the GLS average fair value of 34.41. 7 of the 9 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
There is a wide gap between GLS Growth (6.44) and 10 Cap (70.14). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for PBA, so the nightly engine files it under Blend (value score 31, growth score 30, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for PBA
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 41.18 | -15% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 32.01 | -34% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 43.31 | -11% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 12.79 | -74% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 6.44 | -87% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 70.14 | +44% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 48.81 | +0% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 30.53 | -37% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 24.46 | -50% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -21.62 | -144% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 68.00 | +40% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Pembina Pipeline Corporation scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 4.0/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are moderate - ROIC 5.6%, ROE 10.1%, ROA 4.8% - with debt at 0.79 times equity and a free-cash-flow yield of 5.2%.
The dividend yield is high at 4.26% (payout ratio 100%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Marketing & New Ventures 52%, Pipelines 43%, Facilities 5% (fiscal year FY2025).
Institutional ownership scores 7/10, insider activity 5/10 and Congressional trading 1/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 5.6% |
|---|---|---|---|
| GLS Moat | 4.0 / 10 | ROE | 10.1% |
| Debt / equity | 0.79 | ROA | 4.8% |
| Free-cash-flow yield | 5.2% | Payout ratio | 100% |
| Institutions | 7 / 10 | Insiders · Congress | 5 · 1 / 10 |
Wheel Score 35: Weak
With a Wheel Score of 35 Pembina Pipeline Corporation sits in the Weak band. It fails filter 3, below fair value - trades 42% above our fair value; and filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 5, can repay its debt - 3.7 years to repay its debt (over 3); Value (weak) is its weakest part.
Implied volatility is 37% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 3,799 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.0M shares a day on a market cap of $28.3B, with a beta of 0.70 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 42% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Fails | 3.7 years to repay its debt (over 3) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 42% above fair value | |
| Premium | Strong | implied volatility 37% | |
| Moat | Fair | moat 4.0/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | Red Flags score 75/100 | |
| Option trading | Weak | 710 contracts a day, 3,799 open interest | |
| Stability | Strong | beta 0.70, $28.3B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Pembina Pipeline Corporation reports earnings on 5 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Analysts downgraded PBA 2 times in the last 30 days with no upgrades; the latest action was a downgrade by CIBC on 22 Oct 2026.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Oil & Gas Midstream
The 12 companies below are the closest to Pembina Pipeline Corporation by market cap within the Oil & Gas Midstream industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CQP Cheniere Energy Partners, L.P. | 56.68 | 123.94 | +54% | 51Fair | $27.4B |
| VG Venture Global, Inc. | 12.00 | 24.59 | +51% | 52Fair | $30.0B |
| TCPA TransCanada PipeLines Limited 6 | 21.13 | 37.12 | +43% | 34No options | $21.4B |
| PAA Plains All American Pipeline, L.P. | 25.21 | 51.86 | +51% | 50Fair | $17.8B |
| WES Western Midstream Partners, LP | 42.54 | 49.40 | +14% | 37Weak | $17.6B |
| VNOM Viper Energy, Inc. | 41.06 | 47.78 | +14% | 74Good | $14.7B |
| OKE ONEOK, Inc. | 88.60 | 113.66 | +22% | 48Weak | $55.9B |
| MPLX MPLX Lp | 56.25 | 61.40 | +8% | 35Weak | $57.0B |
| LNG Cheniere Energy, Inc. | 292.02 | 482.62 | +39% | 58Fair | $59.6B |
| TRGP Targa Resources Corp. | 285.00 | 154.52 | -84% | 41Weak | $61.1B |
| TRP TC Energy Corporation | 62.67 | 53.43 | -17% | 35Weak | $65.3B |
| DTM DT Midstream, Inc. | 117.58 | 81.85 | -44% | 34Weak | $12.0B |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about PBA
Is PBA undervalued right now?
No: at 48.73 the stock trades 42% above the GLS average fair value of 34.41 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of PBA and what does it mean?
PBA scores 35 out of 100 (Weak) - it fails Wheel Trade Filters 3, 4, 5. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for PBA?
34.41 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Pembina Pipeline Corporation report earnings next?
The next earnings report is due on 5 Nov 2026 (after the close), 0 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does PBA have listed options, and how liquid are they?
Yes. The nightly snapshot found 48 listed contracts with 3,799 open interest across all expiries and implied volatility of 37% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.