Enbridge (ENB) Gross Margin (2012 - 2026)
Enbridge (ENB) recorded Gross Margin of 22.85% in Q2 2026, down 19.63 percentage points from 42.48% a year earlier and down 9.47 percentage points from the prior quarter.
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Analysis
Enbridge (ENB) Gross Margin (2012 - 2026) Analysis & Trends
On a TTM basis, Enbridge's Gross Margin came in at 36.95% as of Jun 30, 2026, down 7.86 percentage points year-over-year; for FY2025, it came in at 47.30%, down 3.04 percentage points from FY2024.
- Annual Gross Margin has a five-year change of -4.37 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 50.34% in FY2024 (-7.22 pp), 57.56% in FY2023 (+11.85 pp), 45.71% in FY2022 (+2.24 pp) and 43.47% in FY2021 (-8.20 pp).
- The Q2 2026 figure is the lowest quarterly Gross Margin since Q2 2014.
- On a year-over-year basis, Gross Margin rose in two of the last eight quarters, with an average year-over-year change of -9.32 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 18.22 percentage points in Q2 2023, against a drop of 20.66 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 32.32% (Q1 2026), 62.95% (Q4 2025) and 42.02% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 104.58 Bn | 100.18 Bn | 4.84 Bn | 22.85% |
| 2 | Williams Companies | 86.03 Bn | 84.75 Bn | 2.54 Bn | 83.13% |
| 3 | Enterprise Products Partners | 80.00 Bn | 78.39 Bn | - | - |
| 4 | Kinder Morgan | 74.74 Bn | 74.44 Bn | 3.07 Bn | 68.62% |
| 5 | Energy Transfer | 69.45 Bn | 62.63 Bn | 7.40 Bn | 21.55% |
| 6 | Tc Energy | 64.24 Bn | 60.32 Bn | 2.81 Bn | 98.16% |
| 7 | Targa Resources | 62.85 Bn | 62.33 Bn | 2.14 Bn | 48.15% |
| 8 | Cheniere Energy | 59.18 Bn | 54.01 Bn | 5.29 Bn | 92.34% |
| 9 | Mplx | 59.17 Bn | 52.74 Bn | 2.91 Bn | 87.77% |
| 10 | Oneok | 58.67 Bn | 57.06 Bn | 2.81 Bn | 23.30% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.85% |
| Mar 31, 2026 | 32.32% |
| Dec 31, 2025 | 62.95% |
| Sep 30, 2025 | 42.02% |
| Jun 30, 2025 | 42.48% |
| Mar 31, 2025 | 40.81% |
| Dec 31, 2024 | 56.79% |
| Sep 30, 2024 | 39.08% |
| Jun 30, 2024 | 51.64% |
| Mar 31, 2024 | 54.70% |
| Dec 31, 2023 | 77.45% |
| Sep 30, 2023 | 50.92% |
| Jun 30, 2023 | 52.87% |
| Mar 31, 2023 | 48.41% |
| Dec 31, 2022 | 70.74% |
| Sep 30, 2022 | 42.71% |
| Jun 30, 2022 | 34.64% |
| Mar 31, 2022 | 35.44% |
| Dec 31, 2021 | 57.71% |
| Sep 30, 2021 | 34.88% |
API Access
Enbridge Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=ENB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "ENB", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=ENB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();