Pembina Pipeline (PBA) Gross Margin (2011 - 2026)
Pembina Pipeline (PBA) posted Gross Margin of 44.11% for Q1 2026, up 2.04% sequentially from 43.23% in Q4 2025, and up 345.0% YoY from 9.91% in Q1 2025.
Pembina Pipeline (PBA) Gross Margin (2011 - 2026) Analysis & Trends
Pembina Pipeline has reported Gross Margin for 16 years, with the latest figure at 44.11% in Q1 2026.
- Quarterly Gross Margin rose 345.0% year-over-year to 44.11% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 42.01% (up 853.0% YoY) and the FY2025 annual result came in at 41.05%, down 386.0% from the prior year.
- Gross Margin rose to 44.11% in Q1 2026 per PBA's latest filing, from 43.23% in the prior quarter.
- Over five years, Gross Margin peaked at 47.4% in Q1 2024 and troughed at 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.
- The sharpest annual moves came in 2023 and 2025: Gross Margin plunged 1663 bps in 2023, then jumped 3262 bps in 2025.
- Over 5 years, Gross Margin stood at 25.23% in 2022, then sank by 66 bps to 8.6% in 2023, then climbed by 23 bps to 10.62% in 2024, then surged by 307 bps to 43.23% in 2025, then gained by 2 bps to 44.11% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 44.11%, 43.23%, and 36.74% 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 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 68.62% |
| 2 | Enbridge | 110.69 Bn | 109.19 Bn | 5.23 Bn | 24.69% |
| 3 | Enterprise Products Partners | 83.45 Bn | 82.54 Bn | - | - |
| 4 | Energy Transfer | 72.64 Bn | 71.61 Bn | 7.40 Bn | 21.55% |
| 5 | Tc Energy | 65.84 Bn | 58.29 Bn | 1.24 Bn | 95.91% |
| 6 | Mplx | 60.05 Bn | 59.02 Bn | 2.73 Bn | 82.28% |
| 7 | Oneok | 59.98 Bn | 59.82 Bn | 2.81 Bn | 23.30% |
| 8 | Targa Resources | 59.50 Bn | 59.37 Bn | 2.14 Bn | 48.15% |
| 9 | Cheniere Energy | 55.93 Bn | 54.68 Bn | 5.29 Bn | 92.34% |
| 10 | Pembina Pipeline | 28.28 Bn | 28.02 Bn | 674.49 Mn | 43.36% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 43.36% |
| 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% |