Stock fact sheet · data as of
Pembina Pipeline Corporation (PBA): fair value, margin of safety and Wheel Score
Energy · Oil & Gas Midstream · Canada · High Yield Income
Is PBA undervalued?
Pembina Pipeline Corporation (PBA) closed at 48.52 on 16 Oct 2026, 18% above the GLS average fair value of 41.17. Only 2 of the 9 models that produced a number value the shares above the current price. The margin of safety is negative, so the stock fails the "below fair value" rule of the Sunday Scan; a premium of this size is common for companies whose growth the models are conservative about.
There is a wide gap between GLS Growth (6.31) and 10 Cap (92.27). 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.
The nightly engine files PBA under High Yield Income: a dividend yield above 4%.
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 | 37.40 | -23% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 45.06 | -7% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 42.49 | -12% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 12.56 | -74% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 6.31 | -87% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 92.27 | +90% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 67.99 | +40% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 42.52 | -12% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 23.96 | -51% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -30.13 | -162% | 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 Sunday Scan's "6 or more" rule. 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 3.6/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, 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 5.1%.
The dividend yield is high at 4.18% (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 | 3.6 / 10 | ROE | 10.1% |
| Debt / equity | 0.79 | ROA | 4.8% |
| Free-cash-flow yield | 5.1% | Payout ratio | 100% |
| Institutions | 7 / 10 | Insiders · Congress | 5 · 1 / 10 |
Wheel Score 51: Fair
A Wheel Score of 51 puts Pembina Pipeline Corporation in the Fair band - below the 70 the Sunday Scan requires. Value 5/25, Health 11/20, Moat 5/15, Premium 12/20 and Stability 17/20; the weakest part is Value (5/25).
Implied volatility is 27% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (12 of 20 points). Chain open interest is 6,551 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 762k shares a day on a market cap of $28.2B, 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 gives that 17 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 5 / 25 | -18% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 5 / 15 | moat 3.6/10 | |
| Premium | 12 / 20 | implied volatility 27% | |
| Stability | 17 / 20 | 762k shares/day, $28.2B cap, beta 0.70 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 5 Nov 2026 (after the close), 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
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. | 62.25 | 115.62 | +46% | 81Prime | $30.1B |
| VG Venture Global, Inc. | 13.27 | 24.59 | +46% | 86Prime | $33.2B |
| TCPA TransCanada PipeLines Limited 6 | 20.13 | 36.01 | +44% | 39No options | $20.4B |
| WES Western Midstream Partners, LP | 44.82 | 60.89 | +26% | 81Prime | $18.5B |
| PAA Plains All American Pipeline, L.P. | 24.98 | 51.82 | +52% | 80Prime | $17.6B |
| VNOM Viper Energy, Inc. | 44.13 | 18.07 | -144% | 59Fair | $15.9B |
| OKE ONEOK, Inc. | 90.65 | 115.64 | +22% | 78Good | $57.1B |
| LNG Cheniere Energy, Inc. | 279.15 | 507.09 | +45% | 87Prime | $57.7B |
| MPLX MPLX Lp | 57.12 | 67.89 | +16% | 77Good | $57.9B |
| TRGP Targa Resources Corp. | 290.91 | 153.51 | -90% | 63Fair | $62.4B |
| TRP TC Energy Corporation | 61.14 | 64.85 | +6% | 73Good | $63.7B |
| DTM DT Midstream, Inc. | 118.81 | 81.27 | -46% | 62Fair | $12.1B |
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Start free See the Sunday ScanQuestions about PBA
Is PBA undervalued right now?
No: at 48.52 the stock trades 18% above the GLS average fair value of 41.17 (data as of 16 Oct 2026). The margin of safety is negative.
What is the Wheel Score of PBA and what does it mean?
PBA scores 51 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for PBA?
41.17 per share as of 16 Oct 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), 20 days from the data date of 16 Oct 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 100 listed contracts with 6,551 open interest across all expiries and implied volatility of 27% 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.