How Pembina Pipeline makes money

Period

FY2025

How does Pembina Pipeline make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Pembina Pipeline Corp. Ordinary Shares (Canada) · FY2025 · year ended 2025-12-31

Revenue$5.6BGross profit$2.3B · 41%Cost of revenue$3.3B · 59%Operating income$2.0B · 36%Operating expenses$275M · 5%Other opex$275M · 5%Pre-tax income$1.6B · 28%Other expense$431M · 8%Net income$1.2B · 22%Income tax$367M · 7%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.