Pembina Pipeline Corporation (PBA) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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PBA Revenue Growth
Revenue Breakdown (FY 2025)
PBA's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
PBA Revenue Analysis (2014–2025)
As of May 8, 2026, Pembina Pipeline Corporation (PBA) generated trailing twelve-month (TTM) revenue of $7.81 billion, reflecting significant decline in growth of -10.8% year-over-year. The most recent quarter (Q4 2025) recorded $1.91 billion in revenue, up 6.8% sequentially.
Looking at the longer-term picture, PBA's 5-year compound annual growth rate (CAGR) stands at +5.5%, indicating steady revenue expansion. The company achieved its highest annual revenue of $11.61 billion in 2022.
Revenue diversification analysis shows PBA's business is primarily driven by Product Sales (83%), and Fee-For-Service (17%). With over half of revenue concentrated in Product Sales, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including ENB (+21.9% YoY), TRP (+23.3% YoY), and PPL (+6.9% YoY), PBA has underperformed the peer group in terms of revenue growth. Compare PBA vs ENB →
PBA Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PBACurrent | $7.8B | -10.8% | +5.5% | 36.1% | |
 ENB | $65.2B | +21.9% | +10.8% | 16.8% | |
 TRP | $15.2B | +23.3% | +3.2% | 44.2% | |
 PPL | $9.0B | +6.9% | +10.6% | 23.6% | |
 WMB | $11.9B | +10.6% | +9.1% | 36.8% | |
 KMI | $16.9B | +13.1% | +8.1% | 28.4% |
PBA Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $7.78B | +5.3% | $2.98B | 38.4% | $2.81B | 36.1% |
| 2024 | $7.38B | +16.6% | $3.32B | 44.9% | $2.28B | 30.9% |
| 2023 | $6.33B | -45.5% | $2.84B | 44.9% | $2.65B | 41.9% |
| 2022 | $11.61B | +34.6% | $3.12B | 26.9% | $3.71B | 31.9% |
| 2021 | $8.63B | +44.9% | $2.65B | 30.7% | $2.12B | 24.5% |
| 2020 | $5.95B | -17.7% | $2.01B | 33.7% | $4.0M | 0.1% |
| 2019 | $7.23B | -1.6% | $2.43B | 33.7% | $1.82B | 25.2% |
| 2018 | $7.35B | +35.9% | $2.33B | 31.7% | $2.02B | 27.5% |
| 2017 | $5.41B | +26.8% | $1.48B | 27.4% | $1.22B | 22.5% |
| 2016 | $4.26B | -8.0% | $1.00B | 23.5% | $807.0M | 18.9% |
Full PBA Stock Analysis
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Start ComparisonPBA — Frequently Asked Questions
Quick answers to the most common questions about buying PBA stock.
Is PBA's revenue growth accelerating or slowing?
PBA revenue declined -10.8% year-over-year, contrasting with the 5-year CAGR of +5.5%. TTM revenue fell to $7.8B. This reverses the prior growth trend.
What is PBA's long-term revenue growth rate?
Pembina Pipeline Corporation's 5-year revenue CAGR of +5.5% reflects the variable expansion pattern. Current YoY growth of -10.8% is below this long-term average.
How is PBA's revenue distributed by segment?
PBA reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.