Enbridge (ENB) Operating Margin (2012 - 2026)
Enbridge (ENB) reported Operating Margin of 9.93% for Q2 2026, down 5.46 percentage points from 15.39% a year earlier and down 4.50 percentage points from the prior quarter.
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Analysis
Enbridge (ENB) Operating Margin (2012 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Enbridge's Operating Margin came in at 13.33%, down 3.11 percentage points year-over-year; for FY2025, it was 16.81%, down 1.24 percentage points from FY2024.
- Operating Margin has a five-year change of -3.55 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 18.04% in FY2024 (-1.77 pp), 19.82% in FY2023 (+10.11 pp), 9.71% in FY2022 (-6.87 pp) and 16.58% in FY2021 (-3.78 pp).
- The Q2 2026 figure ranks as the lowest quarterly Operating Margin since Q4 2022.
- Year over year, Operating Margin gained in two of the last eight quarters, with an average year-over-year change of -2.93 percentage points.
- The high point for year-over-year Operating Margin in five years was Q4 2023 (a gain of 20.35 percentage points); the low point was Q4 2022 (a drop of 20.49 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 14.43% (Q1 2026), 15.87% (Q4 2025) and 15.51% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 101.53 Bn | 99.08 Bn | 4.84 Bn | 9.93% |
| 2 | Enterprise Products Partners | 76.92 Bn | 75.35 Bn | - | 12.31% |
| 3 | Energy Transfer | 67.97 Bn | 61.41 Bn | 7.40 Bn | 10.41% |
| 4 | Kinder Morgan | 67.10 Bn | 68.05 Bn | 3.07 Bn | 30.06% |
| 5 | Tc Energy | 60.19 Bn | 63.26 Bn | 2.81 Bn | 135.28% |
| 6 | Targa Resources | 57.97 Bn | 57.59 Bn | 2.14 Bn | 27.80% |
| 7 | Mplx | 57.16 Bn | 50.72 Bn | 2.91 Bn | 41.61% |
| 8 | Cheniere Energy | 55.61 Bn | 55.74 Bn | 5.29 Bn | 74.84% |
| 9 | Oneok | 53.75 Bn | 52.24 Bn | 2.81 Bn | 13.22% |
| 10 | Venture Global | 31.49 Bn | 26.04 Bn | 2.92 Bn | 47.79% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.93% |
| Mar 31, 2026 | 14.43% |
| Dec 31, 2025 | 15.87% |
| Sep 30, 2025 | 15.51% |
| Jun 30, 2025 | 15.39% |
| Mar 31, 2025 | 19.85% |
| Dec 31, 2024 | 15.09% |
| Sep 30, 2024 | 14.90% |
| Jun 30, 2024 | 20.05% |
| Mar 31, 2024 | 24.56% |
| Dec 31, 2023 | 16.33% |
| Sep 30, 2023 | 18.22% |
| Jun 30, 2023 | 22.53% |
| Mar 31, 2023 | 22.05% |
| Dec 31, 2022 | -4.02% |
| Sep 30, 2022 | 15.36% |
| Jun 30, 2022 | 11.50% |
| Mar 31, 2022 | 16.03% |
| Dec 31, 2021 | 16.46% |
| Sep 30, 2021 | 12.11% |
API Access
Enbridge Operating 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=operating-margin&ticker=ENB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=ENB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();