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Pembina Pipeline Corp (PBA) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · OIL & GAS MIDSTREAM · DATA UPDATED 2026-07-23

Pembina Pipeline Corp (PBA) operates in the OIL & GAS MIDSTREAM industry and is headquartered in Calgary, Canada with about 2,974 employees. Its market capitalization is roughly $30 billion. In the fiscal year ended 2025-12-31, PBA reported $7.8B in revenue and $1.7B in net income.

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures.

Interactive charts & full statements → Open the PBA valuation workbench →

PBA Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$7.6B	$7.8B	$7.4B	$6.3B	$11.6B	$8.6B	$6.0B	$7.2B	$7.4B	$5.4B	$4.3B	$4.6B	$6.1B	$5.0B	$3.4B	$1.7B	$1.3B	$812M	$675M	$505M	$336M
Gross Profit	$3.1B	$3.0B	$3.3B	$2.8B	$3.1B	$2.6B	$2.0B	$2.4B	$2.3B	$1.5B	$1.0B	$866M	$876M	$793M	$539M	$345M	$360M	$338M	$303M	$260M	$217M
Gross Margin %	40.5%	38.4%	44.9%	44.9%	26.9%	30.7%	33.7%	33.7%	31.7%	27.4%	23.5%	18.7%	14.4%	15.8%	15.7%	20.6%	28.7%	41.7%	44.9%	51.5%	64.6%
Operating Income (EBIT)	$2.6B	$2.8B	$2.3B	$2.7B	$3.7B	$2.1B	$4M	$1.8B	$2.0B	$1.2B	$807M	$685M	$702M	$660M	$416M	$281M	$242M	$210M	$192M	$163M	$111M
Operating Margin %	34.1%	36.1%	30.9%	41.9%	31.9%	24.5%	0.1%	25.2%	27.5%	22.5%	18.9%	14.8%	11.6%	13.1%	12.2%	16.8%	19.3%	25.9%	28.5%	32.3%	32.9%
Net Income	$1.7B	$1.7B	$1.9B	$1.8B	$3.0B	$1.2B	($316M)	$1.5B	$1.3B	$891M	$466M	$406M	$383M	$351M	$225M	$166M	$187M	$162M	$162M	$142M	$89M
Net Margin %	22.4%	21.8%	25.2%	28.1%	25.6%	14.4%	-5.3%	20.6%	17.4%	16.5%	10.9%	8.8%	6.3%	7.0%	6.6%	9.9%	14.9%	20.0%	24.0%	28.2%	26.5%
EBITDA	$3.7B	$3.8B	$3.2B	$3.3B	$4.4B	$2.8B	$700M	$2.0B	$2.4B	$1.6B	$1.1B	$948M	$884M	$771M	$602M	$355M	$299M	$287M	$264M	$229M	$184M
Earnings Per Share (EPS)	$2.91	$2.91	$3.25	$3.22	$5.36	$2.25	$-0.57	$2.90	$2.51	$2.06	$1.20	$1.17	$1.17	$1.14	$0.87	$0.99	$1.11	$1.05	$1.18	$1.06	$0.73
Shares Outstanding (M)	582M	582M	574M	551M	554M	551M	550M	514M	509M	432M	389M	348M	328M	308M	259M	168M	167M	154M	138M	134M	122M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PBA Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$2.1B	$1.9B	$1.8B	$1.8B	$2.3B	$2.1B	$1.8B	$1.9B
Gross Profit	$797M	$827M	$658M	$780M	$928M	$1.0B	$747M	$815M
Gross Margin %	38.5%	43.2%	36.7%	43.5%	40.1%	47.7%	40.5%	43.9%
Operating Income (EBIT)	$671M	$672M	$551M	$684M	$789M	$907M	$623M	$114M
Operating Margin %	32.4%	35.1%	30.8%	38.2%	34.1%	42.3%	33.8%	6.2%
Net Income	$499M	$489M	$286M	$417M	$502M	$572M	$383M	$471M
Net Margin %	24.1%	25.6%	16.0%	23.3%	21.7%	26.7%	20.8%	25.4%
EBITDA	$908M	$1.0B	$796M	$942M	$1.0B	$1.1B	$878M	$367M
Earnings Per Share (EPS)	$0.86	$0.84	$0.49	$0.72	$0.86	$0.98	$0.66	$0.81
Shares Outstanding (M)	582M	582M	582M	582M	582M	582M	581M	581M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PBA Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.8B	$3.3B	$3.2B	$2.6B	$2.9B	$2.6B	$2.3B	$2.5B	$2.3B	$1.5B	$1.1B	$801M	$800M	$651M	$360M	$287M	$255M	$225M	$220M	$190M	$144M
Capital Expenditures (CapEx)	$806M	$784M	$955M	$606M	$605M	$658M	$1.0B	$1.6B	$1.2B	$1.8B	$1.7B	$1.8B	$1.4B	$880M	$547M	$480M	$199M	$144M	$224M	$300M	$169M
Free Cash Flow (FCF)	$2.0B	$2.5B	$2.3B	$2.0B	$2.3B	$2.0B	$1.2B	$887M	$1.0B	($326M)	($668M)	($1.0B)	($612M)	($229M)	($187M)	($193M)	$56M	$81M	($4M)	($111M)	($25M)
FCF Margin %	26.2%	32.4%	30.6%	32.0%	20.0%	23.1%	20.5%	12.3%	14.0%	-6.0%	-15.7%	-21.8%	-10.1%	-4.6%	-5.5%	-11.5%	4.5%	10.0%	-0.6%	-21.9%	-7.5%
Dividends Paid	$1.8B	$1.8B	$1.7B	$1.6B	$1.7B	$1.5B	$1.5B	$1.3B	$1.2B	$781M	$351M	$294M	$269M	$221M	$181M	$22M	$254M	$218M	$197M	$176M	$120M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PBA Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$328M	$861M	$810M	$790M	$579M	$902M	$678M	$690M
Capital Expenditures (CapEx)	$187M	$244M	$178M	$197M	$121M	$242M	$194M	$194M
Free Cash Flow (FCF)	$140M	$617M	$632M	$593M	$459M	$660M	$484M	$496M
FCF Margin %	6.8%	32.2%	35.3%	33.1%	19.8%	30.8%	26.2%	26.8%
Dividends Paid	$444M	$444M	$445M	$447M	$303M	$435M	$321M	$316M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PBA Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$36.3B	$35.6B	$36.0B	$32.6B	$31.5B	$31.5B	$31.4B	$33.2B	$26.7B	$25.6B	$15.0B	$12.9B	$11.3B	$9.1B	$8.3B	$3.3B	$2.8B	$2.6B	$2.1B	$2.0B	$1.7B
Cash & Cash Equivalents	$173M	$106M	$141M	$137M	$94M	$43M	$81M	$129M	$157M	$321M	$35M	$28M	$53M	$51M	$27M	$0M	$125M	$51M	$14M	$17M	$2M
Total Liabilities	$19.3B	$18.8B	$18.5B	$16.8B	$15.7B	$17.1B	$16.4B	$16.4B	$12.3B	$11.7B	$6.7B	$5.5B	$4.9B	$4.0B	$4.0B	$2.4B	$1.6B	$1.5B	$1.2B	$1.1B	$824M
Total Debt (Short + Long-Term)	$13.4B	$12.8B	$12.7B	$10.6B	$10.7B	$11.3B	$11.0B	$10.3B	$7.5B	$7.6B	$4.1B	$3.3B	$2.5B	$2.2B	$2.6B	$1.6B	$1.3B	$1.1B	$799M	$829M	$544M
Total Shareholders' Equity	$16.9B	$16.8B	$17.5B	$15.8B	$15.7B	$14.3B	$15.0B	$16.7B	$14.3B	$13.8B	$8.3B	$7.4B	$6.3B	$5.2B	$4.3B	$962M	$1.2B	$1.1B	$883M	$909M	$852M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive PBA viewer.

Other Companies in OIL & GAS MIDSTREAM

EPD · Enterprise Products Partners LP — $84 billion
TRP · TC Energy Corp — $74 billion
LNG · Cheniere Energy Inc — $57 billion
VG · Venture Global, Inc. — $36 billion
DTM · DT Midstream Inc — $15 billion
VNOM · Viper Energy Ut — $15 billion
AM · Antero Midstream Partners LP — $11 billion
ENB · Enbridge Inc — $124 billion

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