Pembina Pipeline Corp. PBA

Competitive advantage analysis · energy

Corporate Default
Overall moat score
55/100
Moderate

About Pembina Pipeline Corp.

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, Marketing & New Ventures, and Corporate and Income Tax. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 3.0 million of barrels of oil equivalent per day, the ground storage capacity of 10 million of … Full PBA analysis →

Competitive advantage assessment

Key strengths

  • Operating Expense Control OpEx growth is controlled (score 0.67), demonstrating operating leverage.

Key risks

  • Liquidity Concerns Liquidity is concerning (score 0.13), raising questions about short-term obligations.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
57

Where PBA ranks in Oil & Gas Midstream

Pembina Pipeline Corp. ranks #23 of 56 scored companies in Oil & Gas Midstream by moat score — the top 41%. The widest moat in the group is Hess Midstream LP (HESM) at 84/100.

Moat scores for companies ranked near PBA in Oil & Gas Midstream
# Company Moat score Rating
19 Teekay Corporation Ltd. TK 56/100 Moderate
20 Scorpio Tankers Inc. STNG 56/100 Moderate
21 Frontline Plc FRO 55/100 Moderate
22 Kinder Morgan, Inc. KMI 55/100 Moderate
23 Pembina Pipeline Corp. PBA 55/100 Moderate
24 TORM plc TRMD 54/100 Moderate
25 Imperial Petroleum Inc. - 8.75% IMPPP 53/100 Moderate
26 Teekay Tankers Ltd. TNK 53/100 Moderate
27 Imperial Petroleum Inc. IMPP 53/100 Moderate

See every Commodities & Mining company ranked by moat score →

How PBA scores on the Corporate Default defenses

Pricing Power

Score 57 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 49 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 55 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 57 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 50 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 60 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding PBA's moat

What is Pembina Pipeline Corp.'s moat score?

Pembina Pipeline Corp. (PBA) scores 55 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #23 of 56 scored companies in Oil & Gas Midstream, the top 41%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Scale & Market Position (60/100) and its weakest is Cost Advantage (49/100).

How does Pembina Pipeline Corp. compare with other Oil & Gas Midstream companies?

Pembina Pipeline Corp. ranks #23 of 56 scored companies in Oil & Gas Midstream by moat score. The widest moat in Oil & Gas Midstream is Hess Midstream LP (HESM) at 84/100. The companies ranked closest are Kinder Morgan, Inc. (KMI) at 55 just above it and TORM plc (TRMD) at 54 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.

Why is Pembina Pipeline Corp. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Pembina Pipeline Corp.?

The Corporate Default template measures 6 defenses, and PBA scores: Pricing Power (57), Cost Advantage (49), Customer Stickiness (55), Capital Efficiency (57), Resilience (50), Scale & Market Position (60). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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