Pembina Pipeline (PBA) Gross Margin (2011 - 2026)
Pembina Pipeline (PBA) reported Gross Margin of 44.11% for Q1 2026, up 345.0% on a YoY basis from 9.91% in Q1 2025, and up 2.04% sequentially from 43.23% in Q4 2025.
Pembina Pipeline (PBA) Gross Margin (2011 - 2026) Analysis & Trends
Pembina Pipeline (PBA) has 16 years of Gross Margin data on file, last reported at 44.11% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 345.0% year-over-year to 44.11%; the trailing twelve-month figure through Mar 2026 stood at 42.01% (up 853.0% YoY), and the FY2025 full-year result was 41.05%, down 386.0% from the prior year.
- Gross Margin rose to 44.11% in Q1 2026, from 43.23% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 47.4% in Q1 2024 to a low of 8.6% in Q4 2023.
- A 5-year average of 35.32% and a median of 40.67% in 2025 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin slumped 1663 bps in 2023 and surged 3262 bps in 2025, its largest moves.
- Tracing PBA's Gross Margin over 5 years: stood at 25.23% in 2022, then slumped by 66 bps to 8.6% in 2023, then rose by 23 bps to 10.62% in 2024, then surged by 307 bps to 43.23% in 2025, then grew by 2 bps to 44.11% in 2026.
- Business Quant data shows PBA's Gross Margin at 44.11% in Q1 2026, 43.23% in Q4 2025, and 36.74% in Q3 2025.
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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 | Pembina Pipeline | 29.74 Bn | 29.46 Bn | 677.43 Mn | 44.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 44.11% |
| Dec 31, 2025 | 43.23% |
| Sep 30, 2025 | 36.74% |
| Jun 30, 2025 | 43.53% |
| Mar 31, 2025 | 40.67% |
| Dec 31, 2024 | 10.62% |
| Sep 30, 2024 | 40.51% |
| Jun 30, 2024 | 43.94% |
| Mar 31, 2024 | 47.40% |
| Dec 31, 2023 | 8.60% |
| Sep 30, 2023 | 45.29% |
| Jun 30, 2023 | 46.34% |
| Mar 31, 2023 | 41.53% |
| Dec 31, 2022 | 25.23% |
| Sep 30, 2022 | 31.45% |
| Jun 30, 2022 | 22.97% |
| Mar 31, 2022 | 28.21% |
| Dec 31, 2021 | 30.66% |
| Sep 30, 2021 | 31.74% |
| Jun 30, 2021 | 28.92% |