Enbridge Inc. (ENB) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 31.27B | 17.18B | 14.64B | 14.88B | 18.5B | 16.22B | 14.88B | 11.34B | 11.04B | 11.3B | 9.84B | 10.43B | 12.07B | 13.42B | 11.57B | 13.21B | 15.1B | 12.52B | 11.47B | 10.95B |
| Revenue Growth % | 69.03% | 5.92% | -1.63% | 31.23% | 67.62% | 43.54% | 51.18% | 8.67% | -8.59% | -15.84% | -14.94% | -21.06% | -20.02% | 7.22% | 0.93% | 20.71% | 24.39% | 25.1% | 25.86% | 37.61% |
| Cost of Goods Sold | 22.65B | 11.51B | 9.88B | 9.95B | 12.36B | 10.88B | 10.38B | 6.75B | 6.19B | 6.55B | 6B | 6.05B | 7.38B | 8.7B | 7.71B | 9.7B | 10.8B | 8.41B | 8.41B | 7.65B |
| COGS % of Revenue | 72.42% | 66.98% | 67.53% | 66.87% | 66.8% | 67.07% | 69.77% | 59.59% | 56.11% | 58.01% | 60.9% | 58.03% | 61.08% | 64.79% | 66.59% | 73.41% | 71.55% | 67.21% | 73.36% | 69.86% |
| Gross Profit | 8.63B | 5.67B | 4.75B | 4.93B | 6.14B | 5.34B | 4.5B | 4.58B | 4.84B | 4.74B | 3.85B | 4.38B | 4.7B | 4.73B | 3.87B | 3.51B | 4.29B | 4.11B | 3.06B | 3.3B |
| Gross Margin % | 27.58% | 33.02% | 32.47% | 33.13% | 33.2% | 32.93% | 30.23% | 40.41% | 43.89% | 41.99% | 39.1% | 41.97% | 38.92% | 35.21% | 33.41% | 26.59% | 28.45% | 32.79% | 26.64% | 30.14% |
| Gross Profit Growth % | 40.41% | 6.18% | 5.67% | 7.6% | 26.79% | 12.58% | 16.89% | 4.64% | 3.11% | 0.36% | -0.47% | 24.59% | 9.41% | 15.15% | 26.58% | 6.48% | 5.87% | 1.48% | -16.28% | -15.36% |
| Operating Expenses | 3.56B | 2.94B | 2.48B | 2.64B | 2.47B | 2.89B | 2.28B | 2.31B | 2.13B | 2.9B | 2.06B | 2.03B | 2.04B | 5.27B | 2.09B | 1.99B | 1.88B | 2B | 1.67B | 1.48B |
| OpEx % of Revenue | 11.37% | 17.14% | 16.96% | 17.75% | 13.36% | 17.85% | 15.33% | 20.36% | 19.33% | 25.66% | 20.88% | 19.44% | 16.87% | 39.24% | 18.05% | 15.09% | 12.42% | 15.99% | 14.54% | 13.55% |
| Selling, General & Admin | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -48M | -41M | -34M | -34M | -34M | -33M | 2.26B | -59M | -59M | -58M | 2B | 1.67B | 1.48B |
| SG&A % of Revenue | - | - | - | - | - | - | - | -0.42% | -0.37% | -0.3% | -0.35% | -0.33% | -0.27% | 16.84% | -0.51% | -0.45% | -0.38% | 15.99% | 14.54% | 13.55% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 |
| Operating Income | 5.07B | 2.73B | 2.27B | 2.29B | 3.67B | 2.45B | 2.22B | 2.27B | 2.71B | 1.84B | 1.79B | 2.35B | 2.66B | -540M | 1.78B | 1.52B | 2.42B | 2.1B | 1.39B | 1.82B |
| Operating Margin % | 16.21% | 15.87% | 15.51% | 15.39% | 19.85% | 15.09% | 14.9% | 20.05% | 24.56% | 16.33% | 18.22% | 22.53% | 22.05% | -4.02% | 15.36% | 11.5% | 16.03% | 16.8% | 12.11% | 16.59% |
| Operating Income Growth % | 38.05% | 11.4% | 2.39% | 0.7% | 35.45% | 32.63% | 23.63% | -3.28% | 1.84% | 441.67% | 0.9% | 54.61% | 10% | -125.68% | 28.1% | -16.3% | -3.12% | -6.57% | -33.75% | -13.44% |
| EBITDA | 7.04B | 4.19B | 3.67B | 3.68B | 5.08B | 3.83B | 3.54B | 3.55B | 3.9B | 3.01B | 2.96B | 3.49B | 3.81B | 582M | 2.85B | 2.58B | 3.48B | 3.15B | 2.33B | 2.75B |
| EBITDA Margin % | 22.51% | 24.39% | 25.06% | 24.74% | 27.46% | 23.62% | 23.75% | 31.28% | 35.37% | 26.65% | 30.05% | 33.43% | 31.54% | 4.34% | 24.66% | 19.55% | 23.02% | 25.16% | 20.34% | 25.07% |
| EBITDA Growth % | 38.58% | 9.37% | 3.79% | 3.78% | 30.12% | 27.23% | 19.51% | 1.69% | 2.52% | 417.35% | 3.64% | 34.95% | 9.58% | -81.52% | 22.38% | -5.87% | 1.31% | -1.47% | -23.04% | -9.91% |
| D&A (Non-Cash Add-back) | 1.97B | 1.46B | 1.4B | 1.39B | 1.41B | 1.38B | 1.32B | 1.27B | 1.19B | 1.17B | 1.16B | 1.14B | 1.15B | 1.12B | 1.08B | 1.06B | 1.05B | 1.05B | 944M | 929M |
| EBIT | 5.07B | 3.67B | 2.42B | 4.17B | 4.52B | 1.95B | 3.07B | 3.82B | 2.86B | 3.38B | 1.67B | 3.4B | 3.28B | 359M | 2.51B | 1.53B | 3.37B | 3.21B | 1.66B | 2.41B |
| Net Interest Income | 1.7B | -1.22B | -1.26B | -1.18B | -1.33B | -1.12B | -1.31B | -1.08B | -905M | -1.1B | -921M | -883M | -905M | -672.78M | -806M | -791M | -719M | -732M | -648M | -618M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | -18M | 0 | 0 | 0 | 45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50M | 0 | 0 |
| Interest Expense | -1.7B | 1.22B | 1.26B | 1.18B | 1.33B | 1.1B | 1.31B | 1.08B | 905M | 1.15B | 921M | 883M | 905M | 672.78M | 806M | 791M | 719M | 782M | 648M | 618M |
| Other Income/Expense | -1.82B | -270M | -1.11B | 698M | -485M | -1.6B | -459M | 467M | -760M | 387M | -1.04B | 170M | -286M | -9M | -77M | -780M | 230M | 325M | -375M | -25M |
| Pretax Income | 3.25B | 2.46B | 1.16B | 2.99B | 3.19B | 849M | 1.76B | 2.74B | 1.95B | 2.23B | 751M | 2.52B | 2.38B | -549M | 1.7B | 740M | 2.65B | 2.43B | 1.01B | 1.79B |
| Pretax Margin % | 10.4% | 14.3% | 7.94% | 20.08% | 17.23% | 5.24% | 11.82% | 24.17% | 17.68% | 19.76% | 7.63% | 24.16% | 19.68% | -4.09% | 14.7% | 5.6% | 17.55% | 19.39% | 8.83% | 16.36% |
| Income Tax | 807.27M | 325M | 316M | 666M | 697M | 231M | 312M | 739M | 386M | 664M | 128M | 519M | 510M | 560M | 318M | 133M | 593M | 463M | 199M | 270M |
| Effective Tax Rate % | 24.82% | 13.23% | 27.17% | 22.3% | 21.87% | 27.21% | 17.74% | 26.97% | 19.78% | 29.75% | 17.04% | 20.6% | 21.46% | -102% | 18.69% | 17.97% | 22.38% | 19.07% | 19.64% | 15.08% |
| Net Income | 2.45B | 2.06B | 788M | 2.28B | 2.36B | 595M | 1.39B | 1.94B | 1.51B | 1.82B | 621M | 1.94B | 1.82B | -983M | 1.36B | 595M | 2.03B | 1.93B | 780M | 1.48B |
| Net Margin % | 7.82% | 11.99% | 5.38% | 15.32% | 12.78% | 3.67% | 9.35% | 17.14% | 13.7% | 16.09% | 6.31% | 18.55% | 15.05% | -7.32% | 11.77% | 4.5% | 13.44% | 15.44% | 6.8% | 13.55% |
| Net Income Growth % | 3.43% | 246.22% | -43.35% | 17.29% | 56.35% | -67.27% | 123.99% | 0.41% | -16.79% | 284.94% | -54.41% | 225.21% | -10.45% | -150.85% | 74.62% | -59.91% | 1.86% | 3.31% | -28.04% | -14.76% |
| Net Income (Continuing) | 2.45B | 2.13B | 847M | 2.32B | 2.49B | 618M | 1.45B | 2B | 1.56B | 1.57B | 623M | 2B | 1.87B | -1.11B | 1.38B | 607M | 2.06B | 1.97B | 814M | 1.52B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 4.92B | 4.93B | 2.61B | 2.91B | 3.02B | 2.99B | 2.99B | 3.02B | 3.04B | 3.03B | 2.49B | 2.58B | 3.49B | 3.51B | 1.88B | 1.97B | 2.03B | 2.54B | 2.03B | 2.87B |
| EPS (Diluted) | 1.05 | 0.89 | 0.30 | 1.00 | 1.03 | 0.22 | 0.59 | 0.86 | 0.67 | 0.81 | 0.26 | 0.91 | 0.85 | -0.55 | 0.67 | 0.29 | 1.00 | 0.97 | 0.34 | 0.69 |
| EPS Growth % | 1.94% | 304.55% | -49.15% | 16.28% | 53.73% | -72.84% | 126.92% | -5.49% | -21.18% | 247.27% | -61.19% | 213.79% | -15% | -156.7% | 97.06% | -57.97% | 6.38% | 5.43% | -30.61% | -15.85% |
| EPS (Basic) | 1.06 | 0.89 | 0.30 | 1.00 | 1.04 | 0.23 | 0.59 | 0.86 | 0.67 | 0.81 | 0.26 | 0.91 | 0.86 | -0.55 | 0.67 | 0.29 | 1.00 | 0.97 | 0.34 | 0.69 |
| Diluted Shares Outstanding | 2.19B | 2.19B | 2.19B | 2.19B | 2.19B | 2.23B | 2.18B | 2.14B | 2.13B | 2.13B | 2.05B | 2.03B | 2.03B | 2.02B | 2.03B | 2.03B | 2.03B | 2.03B | 2.03B | 2.03B |
| Basic Shares Outstanding | 2.18B | 2.18B | 2.18B | 2.18B | 2.18B | 2.18B | 2.18B | 2.14B | 2.13B | 2.13B | 2.05B | 2.02B | 2.02B | 2.02B | 2.02B | 2.03B | 2.03B | 2.03B | 2.02B | 2.02B |
| Dividend Payout Ratio | 119.01% | 136.84% | 260.79% | 90.17% | 86.89% | 334.45% | 143.42% | 100.1% | 128.64% | 103.74% | 289.05% | 92.87% | 98.95% | - | 127.83% | 227.46% | 68.62% | 69.2% | 170.98% | 113.95% |