Enbridge annual operating margin
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2025
Enbridge Operating Margin Growth & History (ENB)
Enbridge's operating margin was 37.36% for fiscal 2025.
View full Enbridge company overviewEnbridge annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 37.36% | +0.09 pp |
| 2024 | 2024-12-31 | 37.27% | +1.37 pp |
| 2023 | 2023-12-31 | 35.90% | +14.25 pp |
| 2022 | 2022-12-31 | 21.65% | −18.51 pp |
| 2021 | 2021-12-31 | 40.17% | −2.12 pp |
| 2020 | 2020-12-31 | 42.29% | +0.35 pp |
| 2019 | 2019-12-31 | 41.94% | +18.78 pp |
| 2018 | 2018-12-31 | 23.16% | +19.62 pp |
| 2017 | 2017-12-31 | 3.54% | −3.93 pp |
| 2016 | 2016-12-31 | 7.47% | +1.96 pp |
| 2015 | 2015-12-31 | 5.51% | −2.99 pp |
| 2014 | 2014-12-31 | 8.50% | +4.35 pp |
| 2013 | 2013-12-31 | 4.15% | −2.32 pp |
| 2012 | 2012-12-31 | 6.46% | −3.21 pp |
| 2011 | 2011-12-31 | 9.67% | +3.51 pp |
| 2010 | 2010-12-31 | 6.17% | — |
Enbridge quarterly operating margin
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Q2.13
Q2.14
Q2.15
Q2.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
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Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
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Q1.24
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Q3.24
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Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 44.14% | +8.99 pp |
| Q1 2026 | 2026-03-31 | 35.96% | −5.88 pp |
| Q4 2025 | 2025-12-31 | 34.54% | +1.70 pp |
| Q3 2025 | 2025-09-30 | 36.93% | −1.76 pp |
| Q2 2025 | 2025-06-30 | 35.16% | −3.19 pp |
| Q1 2025 | 2025-03-31 | 41.84% | +1.84 pp |
| Q4 2024 | 2024-12-31 | 32.85% | +2.70 pp |
| Q3 2024 | 2024-09-30 | 38.69% | +3.99 pp |
| Q2 2024 | 2024-06-30 | 38.35% | −3.67 pp |
| Q1 2024 | 2024-03-31 | 40.00% | +3.09 pp |
| Q4 2023 | 2023-12-31 | 30.14% | +37.96 pp |
| Q3 2023 | 2023-09-30 | 34.69% | +1.45 pp |
| Q2 2023 | 2023-06-30 | 42.02% | +12.65 pp |
| Q1 2023 | 2023-03-31 | 36.91% | −0.40 pp |
| Q4 2022 | 2022-12-31 | −7.82% | −46.04 pp |
| Q3 2022 | 2022-09-30 | 33.25% | +0.55 pp |
| Q2 2022 | 2022-06-30 | 29.38% | −12.91 pp |
| Q1 2022 | 2022-03-31 | 37.31% | −9.03 pp |
| Q4 2021 | 2021-12-31 | 38.22% | −7.76 pp |
| Q3 2021 | 2021-09-30 | 32.70% | −18.69 pp |
| Q2 2021 | 2021-06-30 | 42.29% | −6.40 pp |
| Q1 2021 | 2021-03-31 | 46.34% | +19.01 pp |
| Q4 2020 | 2020-12-31 | 45.99% | +11.41 pp |
| Q3 2020 | 2020-09-30 | 51.39% | +14.24 pp |
| Q2 2020 | 2020-06-30 | 48.69% | −1.51 pp |
| Q1 2020 | 2020-03-31 | 27.33% | −18.17 pp |
| Q4 2019 | 2019-12-31 | 34.57% | +4.10 pp |
| Q3 2019 | 2019-09-30 | 37.15% | +17.84 pp |
| Q2 2019 | 2019-06-30 | 50.20% | +19.47 pp |
| Q1 2019 | 2019-03-31 | 45.50% | +31.55 pp |
| Q4 2018 | 2018-12-31 | 30.47% | +53.45 pp |
| Q3 2018 | 2018-09-30 | 19.30% | +3.16 pp |
| Q2 2018 | 2018-06-30 | 30.73% | +15.58 pp |
| Q1 2018 | 2018-03-31 | 13.95% | +1.76 pp |
| Q4 2017 | 2017-12-31 | −22.97% | −32.97 pp |
| Q3 2017 | 2017-09-30 | 16.15% | +8.36 pp |
| Q2 2017 | 2017-06-30 | 15.15% | +4.58 pp |
| Q1 2017 | 2017-03-31 | 12.18% | +6.03 pp |
| Q2 2016 | 2016-06-30 | 10.00% | +5.47 pp |
| Q2 2015 | 2015-06-30 | 7.79% | — |
| Q2 2014 | 2014-06-30 | 10.57% | — |
| Q2 2013 | 2013-06-30 | 6.16% | — |
| Q2 2012 | 2012-06-30 | 4.53% | — |
Enbridge operating margin trends
Over the last five reported fiscal years, Enbridge's operating margin decreased from 42.29% to 37.36%, a change of −4.92 percentage points. The latest reported quarter, Q2 2026, shows 44.14%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Enbridge filings at SEC.gov ↗