What is Enbridge's gas distribution revenue — cost of goods sold?

Enbridge (ENB) reported gas distribution revenue — cost of goods sold of $1.23B in Q4 2025.

How has Enbridge's gas distribution revenue — cost of goods sold changed year-over-year?

Enbridge's gas distribution revenue — cost of goods sold increased by 25.9% year-over-year, from $980.00M to $1.23B.

What is the long-term trend for Enbridge's gas distribution revenue — cost of goods sold?

Over 4 years (2021 to 2025), Enbridge's gas distribution revenue — cost of goods sold has grown at a 15.1% compound annual growth rate (CAGR), from $2.09B to $3.68B.

What does gas distribution revenue — cost of goods sold mean?

The direct expenses incurred to purchase natural gas and operate the distribution systems used to serve customers.

Products & Services · Cost of Goods Sold

Gas Distribution Revenue — Cost of Goods Sold

Enbridge Gas Distribution Revenue — Cost of Goods Sold increased by 340.7% to $1.23B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 25.9%, from $980.00M to $1.23B. Over 4 years (FY 2021 to FY 2025), Gas Distribution Revenue — Cost of Goods Sold shows an upward trend with a 15.1% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.

Analysis

StatementSegment

CategoryEfficiency

SignalLower is better

VolatilityModerate

First reportedQ1 2016

Last reportedQ4 2025

Rolls up toTotal Cost of Revenue

How to read this metric

An increase relative to revenue may signal rising commodity prices or operational inefficiencies, while a decrease relative to revenue suggests improved cost management or favorable procurement contracts.

Detailed definition

This metric captures the direct costs associated with procuring natural gas supplies and the operational expenses requir...

Peer comparison

Comparable to cost of sales or operating expenses for regulated gas utility segments at peer energy infrastructure firms.

Metric ID: enb_segment_gas_distribution_revenue_cost_of_goods_and_services_sold

Historical Data

19 periods

	Q2 '21	Q3 '21	Q4 '21	Q1 '22	Q2 '22	Q3 '22	Q4 '22	Q1 '23	Q2 '23	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25
Value	$289.00M	$120.00M	$735.00M	$1.46B	$456.00M	$330.00M	$1.41B	$1.59B	$368.00M	$183.00M	$695.00M	$994.00M	$309.00M	$201.00M	$980.00M	$1.62B	$548.00M	$280.00M	$1.23B
QoQ Change	—	-58.5%	+512.5%	+98.1%	-68.7%	-27.6%	+325.8%	+13.5%	-76.9%	-50.3%	+279.8%	+43.0%	-68.9%	-35.0%	+387.6%	+64.9%	-66.1%	-48.9%	+340.7%
YoY Change	—	—	—	—	+57.8%	+175.0%	+91.2%	+9.5%	-19.3%	-44.5%	-50.5%	-37.6%	-16.0%	+9.8%	+41.0%	+62.6%	+77.3%	+39.3%	+25.9%

Range$120.00M – $1.62B

CAGR+38.1%

Avg YoY Growth+28.1%

Median YoY Growth+25.9%

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Frequently Asked Questions

What is Enbridge's gas distribution revenue — cost of goods sold?: Enbridge (ENB) reported gas distribution revenue — cost of goods sold of $1.23B in Q4 2025.
How has Enbridge's gas distribution revenue — cost of goods sold changed year-over-year?: Enbridge's gas distribution revenue — cost of goods sold increased by 25.9% year-over-year, from $980.00M to $1.23B.
What is the long-term trend for Enbridge's gas distribution revenue — cost of goods sold?: Over 4 years (2021 to 2025), Enbridge's gas distribution revenue — cost of goods sold has grown at a 15.1% compound annual growth rate (CAGR), from $2.09B to $3.68B.
What does gas distribution revenue — cost of goods sold mean?: The direct expenses incurred to purchase natural gas and operate the distribution systems used to serve customers.