Business Segments · Cost Of Revenue
Liquids Pipelines — Cost Of Revenue
Enbridge Liquids Pipelines — Cost Of Revenue increased by 4.8% to $8.42B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 3.7%, from $8.12B to $8.42B. Over 4 years (FY 2021 to FY 2025), Liquids Pipelines — Cost Of Revenue shows an upward trend with a 502.9% 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 suggests margin compression, while a decrease indicates improved operational efficiency or lower maintenance requirements.
Detailed definition
This includes all direct costs associated with operating the liquids pipeline infrastructure, such as maintenance, power...
Peer comparison
Commonly reported as 'Operating Expenses' or 'Cost of Sales' by midstream peers.
Metric ID:
enb_segment_liquids_pipelines_cost_of_revenueHistorical 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 | $7.00M | $6.00M | $9.00M | $11.00M | $16.00M | -$27.00M | $0.00 | $4.13B | $4.30B | $4.34B | -$12.77B | $3.64B | $4.91B | $8.62B | $8.12B | $8.85B | $7.74B | $8.03B | $8.42B |
| QoQ Change | — | -14.3% | +50.0% | +22.2% | +45.5% | -268.8% | +100.0% | — | +3.9% | +1.1% | -394.0% | +128.5% | +35.0% | +75.7% | -5.9% | +9.1% | -12.5% | +3.8% | +4.8% |
| YoY Change | — | — | — | — | +128.6% | -550.0% | -100.0% | >999% | >999% | >999% | — | -12.0% | +14.3% | +98.5% | +163.5% | +143.5% | +57.7% | -6.9% | +3.7% |
Range-$12.77B – $8.85B
CAGR+383.5%
Avg YoY Growth>999%
Median YoY Growth+78.1%
Current Streak2 quarters growth
Similar Metrics at Other Companies
Frequently Asked Questions
- What is Enbridge's liquids pipelines — cost of revenue?
- Enbridge (ENB) reported liquids pipelines — cost of revenue of $8.42B in Q4 2025.
- How has Enbridge's liquids pipelines — cost of revenue changed year-over-year?
- Enbridge's liquids pipelines — cost of revenue increased by 3.7% year-over-year, from $8.12B to $8.42B.
- What is the long-term trend for Enbridge's liquids pipelines — cost of revenue?
- Over 4 years (2021 to 2025), Enbridge's liquids pipelines — cost of revenue has grown at a 502.9% compound annual growth rate (CAGR), from $25.00M to $33.04B.
- What does liquids pipelines — cost of revenue mean?
- The direct costs incurred to operate and maintain the pipeline system.