Enbridge (ENB) Gross Margin (2012 - 2026)
Enbridge (ENB) posted quarterly Gross Margin of 41.12% for Q1 2026, down 842.0% year-on-year from 5.54% in Q1 2025, and down 15.6% on a QoQ basis from 48.72% in Q4 2025.
Enbridge (ENB) Gross Margin (2012 - 2026) Analysis & Trends
Enbridge (ENB) has reported Gross Margin for 15 consecutive years, with 41.12% the latest figure, recorded in Q1 2026.
- Quarterly Gross Margin fell 842.0% year-over-year to 41.12% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 44.68% (down 297.0% YoY) and the FY2025 annual result came in at 47.3%, down 304.0% from the prior year.
- Gross Margin eased to 41.12% in Q1 2026 per ENB's latest filing, from 48.72% in the prior quarter.
- Over the last five years, Gross Margin for ENB reached as high as 63.71% in Q1 2024 and fell as low as 38.09% in Q2 2022.
- A 5-year average of 49.86% and a median of 48.72% in 2025 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin surged 1830 bps — and 2025, when it slumped 1416 bps.
- Year by year, Gross Margin stood at 54.04% in 2022, then advanced by 8 bps to 58.46% in 2023, then decreased by 19 bps to 47.51% in 2024, then climbed by 3 bps to 48.72% in 2025, then declined by 16 bps to 41.12% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 41.12%, 48.72%, and 43.94% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 89.73% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 76.80% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 68.62% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 41.12% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | - |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 97.17% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 23.85% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 41.52% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 93.41% |
| 10 | Mplx | 58.39 Bn | 56.89 Bn | 1.95 Bn | 82.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 41.12% |
| Dec 31, 2025 | 48.72% |
| Sep 30, 2025 | 43.94% |
| Jun 30, 2025 | 46.17% |
| Mar 31, 2025 | 49.55% |
| Dec 31, 2024 | 47.51% |
| Sep 30, 2024 | 40.43% |
| Jun 30, 2024 | 54.37% |
| Mar 31, 2024 | 63.71% |
| Dec 31, 2023 | 58.46% |
| Sep 30, 2023 | 52.78% |
| Jun 30, 2023 | 56.39% |
| Mar 31, 2023 | 61.61% |
| Dec 31, 2022 | 54.04% |
| Sep 30, 2022 | 45.56% |
| Jun 30, 2022 | 38.09% |
| Mar 31, 2022 | 45.08% |
| Dec 31, 2021 | 46.81% |
| Sep 30, 2021 | 35.92% |
| Jun 30, 2021 | 41.27% |