Enbridge (ENB) Gross Margin (2011 - 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.
Powered by 
Analysis
Enbridge (ENB) Gross Margin (2011 - 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 | 106.46 Bn | 104.34 Bn | 4.35 Bn | 28.91% |
| 2 | Williams Companies | 84.36 Bn | 87.15 Bn | 2.59 Bn | 80.39% |
| 3 | Enterprise Products Partners | 80.12 Bn | 78.52 Bn | 14.00 Mn | 0.08% |
| 4 | Kinder Morgan | 69.50 Bn | 69.59 Bn | 2.97 Bn | 65.44% |
| 5 | Energy Transfer | 66.92 Bn | 63.02 Bn | 6.57 Bn | 17.71% |
| 6 | Tc Energy | 66.06 Bn | 69.71 Bn | - | - |
| 7 | Targa Resources | 60.35 Bn | 59.56 Bn | 2.02 Bn | 36.08% |
| 8 | Cheniere Energy | 59.93 Bn | 59.50 Bn | 2.97 Bn | 48.05% |
| 9 | Mplx | 57.44 Bn | 51.69 Bn | 3.19 Bn | 88.60% |
| 10 | Oneok | 55.08 Bn | 63.62 Bn | 2.84 Bn | 22.83% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 28.91% |
| 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% |
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();