Enbridge (ENB) Operating Expenses (2012 - 2026)
Enbridge's Operating Expenses came in at $19.09 billion for Q2 2026, up 110.2% from $9.08 billion a year earlier and up 36.8% from the prior quarter.
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Analysis
Enbridge (ENB) Operating Expenses (2012 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Enbridge reported Operating Expenses of $52.39 billion, up 35.9% year-over-year; for FY2025, it was $38.82 billion, up 21.3% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 10.8% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $32.01 billion in FY2024 (+23.4%), $25.94 billion in FY2023 (-29.9%), $37.02 billion in FY2022 (+18.2%) and $31.33 billion in FY2021 (+34.8%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q2 2012.
- Year-over-year, Operating Expenses has increased for three consecutive quarters, with growth averaging 43.5% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2026 (growth of 110.2%), and the weakest in Q2 2023 (a decline of 34.4%).
- Business Quant data shows ENB's Operating Expenses at $13.95 billion (Q1 2026), $10.36 billion (Q4 2025) and $8.99 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 19.09 Bn |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 16.13 Bn |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 30.76 Bn |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 3.13 Bn |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | -1.06 Bn |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 354.10 Mn |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 1.93 Bn |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 4.00 Mn |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 1.44 Bn |
| 10 | Venture Global | 32.11 Bn | 26.66 Bn | 2.92 Bn | 2.39 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 19.09 Bn |
| Mar 31, 2026 | 13.95 Bn |
| Dec 31, 2025 | 10.36 Bn |
| Sep 30, 2025 | 8.99 Bn |
| Jun 30, 2025 | 9.08 Bn |
| Mar 31, 2025 | 10.34 Bn |
| Dec 31, 2024 | 9.86 Bn |
| Sep 30, 2024 | 9.28 Bn |
| Jun 30, 2024 | 6.63 Bn |
| Mar 31, 2024 | 6.18 Bn |
| Dec 31, 2023 | 6.94 Bn |
| Sep 30, 2023 | 6.00 Bn |
| Jun 30, 2023 | 6.02 Bn |
| Mar 31, 2023 | 6.96 Bn |
| Dec 31, 2022 | 10.29 Bn |
| Sep 30, 2022 | 7.51 Bn |
| Jun 30, 2022 | 9.17 Bn |
| Mar 31, 2022 | 10.01 Bn |
| Dec 31, 2021 | 8.26 Bn |
| Sep 30, 2021 | 8.01 Bn |
API Access
Enbridge Operating Expenses 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=operating-expenses&ticker=ENB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=ENB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();