Enbridge (ENB) revenue breakdown
By segment, Liquids Pipelines is the largest at 72% of fiscal 2025 revenue, growing 21% a year over 9 years.
By product, Transportation Revenue is the largest at 61% of fiscal 2025 revenue; Storage and Other Revenue grew fastest, 17% a year over 7 years.
Revenue by segment
Fiscal years, as Enbridge reports them in its 10-K filings; fiscal 2025 total $63.8B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Liquids Pipelines | $8.2B | $8.9B | $8.1B | $10.2B | $10.4B | $10.6B | $11.5B | $29.9B | $38.2B | $45.9B | 72% |
| Gas Distribution and Storage | — | $5.0B | $5.5B | $5.2B | $4.6B | $5.0B | $6.7B | $6.0B | $7.5B | $10.7B | 17% |
| Gas Transmission | — | — | $6.6B | $5.2B | $4.9B | $4.7B | $5.4B | $5.9B | $6.2B | $6.7B | 10% |
| Renewable Power Generation | — | $534M | $567M | $567M | $587M | $512M | $281M | $477M | $514M | $561M | 1% |
| Energy Services | — | — | $26.2B | $29.4B | $19.3B | $26.9B | — | — | — | — | — |
| Energy Services | — | $23.3B | — | — | — | — | — | — | — | — | — |
| Energy Services | $20.4B | — | — | — | — | — | — | — | — | — | — |
| Gas Transmission and Midstream | — | $7.1B | — | — | — | — | — | — | — | — | — |
| Gas Distribution | $3.0B | — | — | — | — | — | — | — | — | — | — |
| Gas Transmission and Midstream | $2.9B | — | — | — | — | — | — | — | — | — | — |
| Green Power and Transmission | $502M | — | — | — | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Enbridge reports them in its 10-K filings; fiscal 2025 total $29.3B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Transportation Revenue | — | — | $13.3B | $14.3B | $14.4B | $14.5B | $16.5B | $17.3B | $17.5B | $17.8B | 61% |
| Gas distribution sales | $2.5B | $4.2B | $4.4B | $4.2B | $3.7B | $4.0B | $6.2B | $5.4B | $6.7B | $9.6B | 33% |
| Storage and Other Revenue | — | — | $519M | $578M | $571M | $648M | $893M | $1.1B | $1.3B | $1.5B | 5% |
| Electricity Revenue | — | — | $206M | $180M | $198M | $177M | $281M | $259M | $189M | $232M | 1% |
| Commodity sales | — | — | — | — | — | — | — | $17M | $158M | $167M | 1% |
| Transportation and other services revenues | — | $13.9B | — | — | — | — | — | — | — | — | — |
| Transportation and other services revenues | $9.3B | — | — | — | — | — | — | — | — | — | — |
| Commodity sales / costs | $22.8B | $26.3B | $1.6B | — | — | — | — | — | — | — | — |
| Gas gathering and processing revenue | — | — | $815M | $423M | $27M | $49M | — | — | — | — | — |
| Gas gathering and processing revenue | — | — | — | — | — | — | $22M | — | — | — | — |
| Commodity sales | — | — | — | $4M | — | — | — | — | — | — | — |
Revenue by region
Fiscal years, as Enbridge reports them in its 10-K filings; fiscal 2025 total $65.2B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| US | $22.1B | $26.3B | $27.4B | $30.1B | $22.6B | $26.6B | $25.8B | $19.9B | $31.5B | $42.1B | 65% |
| Canada | $12.5B | $18.1B | $19.0B | $20.0B | $16.5B | $20.5B | $27.5B | $23.8B | $22.0B | $23.1B | 35% |
Questions
Where does Enbridge make its money?
In fiscal 2025, by segment: Liquids Pipelines $45.9B, Gas Distribution and Storage $10.7B, Gas Transmission $6.7B, Renewable Power Generation $561M.
From Enbridge's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.