Enbridge (ENB) Financials

$46.02 -0.04 (-0.09%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$46.02 +0.00 (+0.01%)

As of 05/27/2025 07:37 PM Eastern

Annual Income Statements for Enbridge

This table shows Enbridge's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Net Income / (Loss) Attributable to Common Shareholders	3,509	4,423	1,913	4,552	2,338	4,102	1,843	2,010	1,322	-27
Consolidated Net Income / (Loss)	3,910	4,589	2,171	4,942	2,678	4,491	2,442	2,595	1,718	-115
Net Income / (Loss) Continuing Operations	3,910	4,589	2,171	4,942	2,678	4,491	2,442	2,595	1,718	-115
Total Pre-Tax Income	5,069	5,968	3,356	6,049	3,285	5,807	2,616	452	1,824	7.95
Total Operating Income	6,701	6,553	3,826	6,109	6,238	6,366	3,529	1,248	1,921	1,346
Total Gross Profit	16,967	16,879	15,312	14,377	14,438	14,693	12,440	12,509	7,855	6,184
Total Revenue	37,134	33,062	39,395	36,840	30,641	38,587	33,985	35,266	25,718	24,435
Operating Revenue	37,134	33,062	39,395	36,840	30,641	38,587	33,985	35,266	25,718	24,435
Total Cost of Revenue	20,167	16,184	24,083	22,464	16,203	23,894	21,544	22,757	17,864	18,250
Operating Cost of Revenue	20,167	16,184	24,083	22,464	16,203	23,894	21,544	22,757	17,864	18,250
Total Operating Expenses	10,267	10,326	11,485	8,268	8,200	8,327	8,911	11,261	5,934	4,838
Selling, General & Admin Expense	6,547	6,514	6,074	5,253	5,291	5,388	4,977	5,119	3,243	2,987
Depreciation Expense	3,588	3,494	3,190	3,015	2,910	2,613	2,379	2,514	1,667	1,463
Impairment Charge	132	317	2,221	0.00	0.00	326	1,556	3,628	1,024	388
Total Other Income / (Expense), net	-1,632	-585	-470	-59	-2,953	-559	-913	-796	-97	-1,338
Interest Expense	3,069	2,887	2,349	2,078	2,187	2,052	1,981	2,031	1,183	1,174
Interest & Investment Income	2,358	1,376	2,315	1,252	-952	1,158	1,106	876	319	343
Other Income / (Expense), net	-921	927	-435	766	187	335	-38	359	768	-508
Income Tax Expense	1,158	1,379	1,185	1,107	607	1,316	174	-2,143	106	123
Preferred Stock Dividends Declared	269	267	306	292	298	295	269	262	218	208
Net Income / (Loss) Attributable to Noncontrolling Interest	132	-101	-48	98	42	94	330	323	179	-296
Basic Earnings per Share	$1.63	$2.15	$0.95	$2.87	$1.48	$2.64	$1.46	$1.66	$1.95	($0.04)
Weighted Average Basic Shares Outstanding	2.18B	2.13B	2.02B	2.03B	2.03B	2.02B	2.02B	1.70B	943.11M	867.61M
Diluted Earnings per Share	$1.63	$2.15	$0.95	$2.87	$1.48	$2.63	$1.46	$1.65	$1.93	($0.04)
Weighted Average Diluted Shares Outstanding	2.18B	2.13B	2.02B	2.03B	2.03B	2.02B	2.02B	1.70B	943.11M	867.61M
Weighted Average Basic & Diluted Shares Outstanding	2.18B	2.13B	2.02B	2.03B	2.03B	2.02B	2.02B	1.70B	943.11M	867.61M
Cash Dividends to Common per Share	$3.66	$3.55	$3.44	$3.34	$3.24	$2.95	$2.68	$2.41	$2.12	$1.86

This table shows Enbridge's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	154	957	1,350	1,048	1,352	393	1,397	1,281	-910	930
Consolidated Net Income / (Loss)	221	1,071	1,462	1,156	1,237	460	1,512	1,380	-954	1,006
Net Income / (Loss) Continuing Operations	221	1,071	1,462	1,156	1,237	460	1,512	1,380	-954	1,006
Total Pre-Tax Income	324	1,302	2,002	1,441	1,752	555	1,904	1,757	-578	1,237
Total Operating Income	1,396	1,642	1,661	2,002	1,483	1,325	1,776	1,968	-586	1,293
Total Gross Profit	3,925	4,305	4,278	4,459	4,685	3,704	4,168	4,322	3,874	3,594
Total Revenue	9,683	11,015	8,284	8,152	8,978	7,273	7,884	8,928	8,617	8,416
Operating Revenue	9,683	11,015	8,284	8,152	8,978	7,273	7,884	8,928	8,617	8,416
Total Cost of Revenue	5,758	6,710	4,006	3,693	4,292	3,569	3,716	4,606	4,743	4,821
Operating Cost of Revenue	5,758	6,710	4,006	3,693	4,292	3,569	3,716	4,606	4,743	4,821
Total Operating Expenses	2,530	2,663	2,617	2,457	3,202	2,378	2,392	2,353	4,461	2,301
Selling, General & Admin Expense	1,596	1,688	1,687	1,576	1,957	1,518	1,533	1,506	1,503	1,519
Depreciation Expense	802	975	930	881	928	860	859	847	736	782
Total Other Income / (Expense), net	-1,072	-340	341	-561	269	-771	128	-211	7.74	-56
Interest Expense	637	973	791	668	871	680	667	669	573	586
Interest & Investment Income	334	355	1,155	514	379	253	361	382	353	1,172
Other Income / (Expense), net	-770	278	-23	-407	761	-344	435	75	228	-642
Income Tax Expense	102	231	540	285	515	95	392	377	376	231
Preferred Stock Dividends Declared	59	73	69	69	73	66	66	62	51	60
Net Income / (Loss) Attributable to Noncontrolling Interest	8.97	41	42	39	-188	1.48	50	36	-95	15
Basic Earnings per Share	($0.11)	$0.44	$0.63	$0.67	$0.41	$0.19	$0.69	$0.86	($0.85)	$0.63
Weighted Average Basic Shares Outstanding	2.18B	2.18B	2.18B	2.13B	2.13B	2.13B	2.02B	2.02B	2.02B	2.02B
Diluted Earnings per Share	($0.11)	$0.44	$0.63	$0.67	$0.42	$0.19	$0.69	$0.85	($0.85)	$0.63
Weighted Average Diluted Shares Outstanding	2.18B	2.18B	2.18B	2.13B	2.13B	2.13B	2.02B	2.02B	2.02B	2.02B
Weighted Average Basic & Diluted Shares Outstanding	2.18B	2.18B	2.18B	2.13B	2.13B	2.13B	2.02B	2.02B	2.02B	2.02B

This table details how cash moves in and out of Enbridge's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Net Change in Cash & Equivalents	-2,767	3,846	434	-133	-146	30	37	-775	650	-105
Net Cash From Operating Activities	8,750	10,757	8,299	7,244	7,667	7,243	7,696	5,291	3,873	3,305
Net Cash From Continuing Operating Activities	8,750	10,757	8,299	7,244	7,667	7,243	7,696	5,291	3,873	3,305
Net Income / (Loss) Continuing Operations	3,910	4,589	2,171	4,942	2,678	4,491	2,442	2,595	1,718	-115
Consolidated Net Income / (Loss)	3,910	4,589	2,171	4,942	2,678	4,491	2,442	2,595	1,718	-115
Depreciation Expense	3,588	3,494	3,190	3,015	2,910	2,613	2,379	2,514	1,667	1,463
Non-Cash Adjustments To Reconcile Net Income	1,344	923	2,946	435	2,007	338	2,204	451	762	2,454
Changes in Operating Assets and Liabilities, net	-92	1,750	-8.87	-1,147	73	-200	670	-269	-274	-497
Net Cash From Investing Activities	-14,141	-4,577	-3,894	-8,341	-4,058	-3,590	-2,211	-8,771	-3,834	-5,736
Net Cash From Continuing Investing Activities	-14,141	-4,577	-3,894	-8,341	-4,058	-3,590	-2,211	-8,771	-3,834	-5,736
Purchase of Property, Plant & Equipment	-4,660	-3,525	-3,434	-6,119	-4,237	-4,233	-4,987	-6,586	-3,816	-5,259
Acquisitions	-9,508	-891	-740	-3,178	-187	-154	-396	-627	-574	-150
Purchase of Investments	-2,371	-967	-670	-501	-382	-893	-1,017	-2,867	-383	-407
Divestitures	1,892	0.00	386	988	208	-	-	542	0.00	0.00
Sale and/or Maturity of Investments	545	851	564	468	540	79	936	99	0.00	0.00
Other Investing Activities, net	-39	-46	0.00	0.00	-	-15	-8.79	168	-88	-26
Net Cash From Financing Activities	2,461	-2,169	-4,011	967	-3,739	-3,657	-5,498	2,762	625	2,223
Net Cash From Continuing Financing Activities	2,461	-2,169	-4,011	967	-3,739	-3,657	-5,498	2,762	625	2,223
Repayment of Debt	2,085	6,724	2,598	4,755	-3,394	-3,750	-3,582	-3,443	-1,448	-740
Repurchase of Preferred Equity	0.00	0.00	-741	0.00	0.00	-231	-154	0.00	0.00	-
Repurchase of Common Equity	0.00	-95	-112	-325	0.00	-	-	-	-	-
Payment of Dividends	-5,969	-6,053	-5,590	-5,795	-5,675	-5,094	-3,730	-3,555	-1,760	-1,469
Issuance of Debt	4,617	-6,125	-985	2,317	1,209	5,395	939	6,543	1,142	3,461
Issuance of Common Equity	1,728	3,379	12	16	22	23	33	1,892	1,703	486
Other Financing Activities, net	0.00	0.00	807	0.00	4,100	-	996	936	440	484
Effect of Exchange Rate Changes	163	-164	41	-3.91	-16	34	50	-57	-14	103
Cash Interest Paid	2,871	2,560	2,158	1,900	1,990	2,110	1,838	2,120	1,354	1,327
Cash Income Taxes Paid	598	438	366	383	411	440	203	137	144	58

This table details how cash moves in and out of Enbridge's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	107	-1,203	1,727	-3,397	2,561	1,147	32	106	-102	-61
Net Cash From Operating Activities	2,135	2,256	2,032	2,327	3,081	2,155	2,662	2,858	2,760	1,287
Net Cash From Continuing Operating Activities	2,135	2,256	2,032	2,327	3,081	2,155	2,662	2,858	2,760	1,287
Net Income / (Loss) Continuing Operations	200	1,104	1,450	1,156	1,271	395	1,543	1,380	-772	873
Consolidated Net Income / (Loss)	200	1,104	1,450	1,156	1,271	395	1,543	1,380	-772	873
Depreciation Expense	788	998	921	881	947	821	878	847	867	677
Non-Cash Adjustments To Reconcile Net Income	978	44	-190	512	191	787	-11	-44	2,236	67
Changes in Operating Assets and Liabilities, net	168	110	-149	-222	671	151	252	676	429	-331
Net Cash From Investing Activities	-2,362	-3,573	-2,452	-5,755	-1,989	-825	-701	-1,062	-1,598	-649
Net Cash From Continuing Investing Activities	-2,362	-3,573	-2,452	-5,755	-1,989	-825	-701	-1,062	-1,598	-649
Purchase of Property, Plant & Equipment	-1,578	-1,232	-976	-875	-1,099	-845	-747	-835	-1,104	-774
Acquisitions	278	-2,079	-2,952	-4,756	-409	-35	-398	-49	-431	-239
Purchase of Investments	-1,001	-424	-642	-304	-607	-3.10	-51	-305	-258	-110
Divestitures	-124	25	-	-	-	-	-	-	6.17	-
Sale and/or Maturity of Investments	66	141	142	196	149	81	496	126	189	95
Other Investing Activities, net	-2.62	-4.84	-14	-17	-23	-23	-	0.00	-	-
Net Cash From Financing Activities	283	142	2,125	-89	1,633	-197	-1,912	-1,692	-1,259	-728
Net Cash From Continuing Financing Activities	283	142	2,125	-89	1,633	-197	-1,912	-1,692	-1,259	-728
Repayment of Debt	-503	1,442	3,987	-2,842	2,117	3,016	-295	1,886	679	915
Payment of Dividends	-1,219	-1,647	-1,539	-1,563	-1,671	-1,388	-1,534	-1,460	-1,468	-1,182
Issuance of Debt	2,119	322	-2,138	4,315	1,105	-5,116	8.18	-2,122	-1,266	-520
Issuance of Common Equity	-114	25	1,816	1.48	84	3,289	3.09	2.96	2.37	0.91
Effect of Exchange Rate Changes	51	-29	21	119	-164	14	-17	2.96	-5.17	30

This table presents Enbridge's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Total Assets	152,065	136,583	132,728	132,162	125,642	125,741	122,304	128,812	63,409	61,108
Total Current Assets	9,141	10,907	8,977	7,012	5,762	6,715	6,281	7,323	5,795	5,493
Cash & Equivalents	1,252	4,470	636	224	354	499	380	381	1,112	734
Restricted Cash	64	64	34	27	30	22	87	85	51	25
Accounts Receivable	4,868	3,405	4,234	5,454	4,174	5,193	4,833	5,642	3,715	3,931
Inventories, net	1,033	1,120	1,666	1,307	1,204	1,001	981	1,214	918	803
Other Current Assets	1,924	1,848	2,405	-	-	-	-	-	-	-
Plant, Property, & Equipment, net	91,044	79,261	77,195	78,318	74,135	72,230	69,277	72,086	47,838	46,589
Total Noncurrent Assets	51,186	45,872	46,557	46,833	45,745	46,796	46,746	49,403	9,844	9,026
Long-Term Investments	14,369	12,720	11,777	10,921	10,832	13,072	12,479	13,439	5,221	5,103
Goodwill	25,417	24,124	23,973	25,652	25,624	25,550	25,251	27,382	58	58
Intangible Assets	3,185	2,679	2,969	3,137	1,631	1,675	1,738	2,596	1,171	975
Noncurrent Deferred & Refundable Income Taxes	553	258	349	382	604	771	1,007	866	871	607
Other Noncurrent Operating Assets	7,663	6,091	7,490	6,741	7,054	5,728	6,271	5,119	2,523	2,285
Total Liabilities & Shareholders' Equity	152,065	136,583	132,728	132,162	125,642	125,741	122,304	128,812	63,409	61,108
Total Liabilities	104,222	87,740	85,878	82,567	75,187	72,251	68,493	73,344	44,541	44,956
Total Current Liabilities	16,536	13,206	15,002	14,267	10,958	12,252	10,885	11,621	9,185	7,819
Short-Term Debt	5,735	4,911	5,942	6,010	3,197	4,086	3,138	3,429	3,312	1,872
Accounts Payable	4,918	3,283	4,639	7,715	7,234	7,669	7,227	7,532	5,429	5,315
Other Current Liabilities	5,028	4,286	3,858	-	17	16	29	125	91	296
Other Current Nonoperating Liabilities	855	726	564	542	510	481	490	504	248	234
Total Noncurrent Liabilities	87,686	74,533	70,876	68,300	64,229	59,999	57,607	61,723	35,356	37,137
Long-Term Debt	64,871	56,594	53,901	53,190	49,244	45,979	44,206	48,368	27,158	28,481
Noncurrent Deferred & Payable Income Tax Liabilities	13,608	11,385	10,184	9,148	8,099	7,604	6,928	7,387	4,492	4,277
Other Noncurrent Operating Liabilities	9,207	6,554	6,791	5,961	6,885	6,415	6,473	5,968	3,707	4,379
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	47,842	48,843	46,850	49,595	50,455	53,490	53,812	52,236	16,344	14,604
Total Preferred & Common Equity	45,764	46,549	44,256	47,606	48,106	50,898	50,906	46,199	15,915	13,664
Preferred Stock	4,735	5,164	5,038	6,063	6,073	5,970	5,677	6,156	5,399	4,711
Total Common Equity	41,029	41,385	39,217	41,543	42,033	44,927	45,229	40,042	10,516	8,953
Common Stock	50,009	52,604	48,060	51,001	50,989	50,042	47,394	42,858	10,337	7,731
Retained Earnings	-13,921	-12,964	-11,444	-8,601	-7,835	-4,866	-4,058	-1,961	-533	103
Accumulated Other Comprehensive Income / (Loss)	4,941	1,744	2,601	-858	-1,098	-210	1,958	-773	787	1,180
Noncontrolling Interest	2,078	2,294	2,595	1,990	2,349	2,593	2,905	6,037	429	940

This table presents Enbridge's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	152,065	152,300	147,079	140,852	136,583	131,814	131,456	130,921	132,728	132,181
Total Current Assets	9,141	8,804	9,134	7,394	10,907	8,224	6,778	7,333	8,977	7,858
Cash & Equivalents	1,252	1,388	2,621	897	4,470	1,927	778	722	636	742
Restricted Cash	64	98	83	126	64	29	45	55	34	26
Accounts Receivable	4,868	4,195	3,546	3,696	3,405	3,074	2,941	3,590	4,234	5,384
Inventories, net	1,033	1,190	995	1,021	1,120	1,157	915	969	1,666	1,706
Other Current Assets	1,924	1,932	1,890	1,654	1,848	2,037	2,097	1,997	2,405	-
Plant, Property, & Equipment, net	91,044	92,095	87,904	83,785	79,261	78,005	78,563	77,080	77,195	76,535
Total Noncurrent Assets	51,186	51,402	50,041	49,672	45,872	45,585	46,115	46,507	46,557	47,787
Long-Term Investments	14,369	14,251	13,873	13,428	12,720	11,283	12,033	12,544	11,777	11,159
Goodwill	25,417	25,800	25,077	25,328	24,124	23,931	24,098	23,964	23,973	25,650
Intangible Assets	3,185	3,259	3,292	3,344	2,679	2,756	2,845	2,893	2,969	2,999
Noncurrent Deferred & Refundable Income Taxes	553	366	341	348	258	293	198	342	349	337
Other Noncurrent Operating Assets	7,663	7,727	7,457	7,225	6,091	7,322	6,942	6,764	7,490	7,643
Total Liabilities & Shareholders' Equity	152,065	152,300	147,079	140,852	136,583	131,814	131,456	130,921	132,728	132,181
Total Liabilities	104,222	101,395	95,740	91,145	87,740	81,223	83,059	82,843	85,878	83,148
Total Current Liabilities	16,536	14,100	11,934	10,870	13,206	12,357	10,599	12,405	15,002	13,024
Short-Term Debt	5,735	5,907	5,050	4,576	4,911	6,444	5,240	6,560	5,942	6,005
Accounts Payable	4,918	4,473	3,351	2,836	3,283	3,272	2,802	3,065	4,639	6,553
Other Current Liabilities	5,028	2,864	2,742	2,768	4,286	2,106	1,934	2,256	3,858	-
Other Current Nonoperating Liabilities	855	856	791	690	726	534	623	524	564	466
Total Noncurrent Liabilities	87,686	87,296	83,806	80,275	74,533	68,867	72,460	70,438	70,876	70,124
Long-Term Debt	64,871	64,629	62,249	60,108	56,594	50,826	54,814	53,043	53,901	53,781
Noncurrent Deferred & Payable Income Tax Liabilities	13,608	13,597	13,090	12,324	11,385	11,046	10,960	10,567	10,184	9,702
Other Noncurrent Operating Liabilities	9,207	9,070	8,467	7,843	6,554	6,994	6,686	6,828	6,791	6,641
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	47,842	50,905	51,340	49,707	48,843	50,590	48,396	48,078	46,850	49,033
Total Preferred & Common Equity	45,764	48,692	49,129	47,460	46,549	48,092	45,812	45,500	44,256	47,144
Preferred Stock	4,735	5,046	4,982	5,035	5,164	5,037	5,153	5,041	5,038	4,958
Total Common Equity	41,029	43,646	44,146	42,425	41,385	43,054	40,659	40,459	39,217	42,186
Common Stock	50,009	53,285	52,594	51,311	52,604	51,316	49,112	48,095	48,060	47,316
Retained Earnings	-13,921	-12,209	-11,542	-11,592	-12,964	-11,089	-10,388	-10,169	-11,444	-7,912
Accumulated Other Comprehensive Income / (Loss)	4,941	2,570	3,094	2,706	1,744	2,827	1,935	2,533	2,601	2,781
Noncontrolling Interest	2,078	2,213	2,211	2,247	2,294	2,499	2,585	2,577	2,595	1,889

This table displays calculated financial ratios and metrics derived from Enbridge's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.31%	-16.07%	6.93%	20.23%	-20.59%	13.54%	-3.63%	37.13%	5.25%	-24.61%
EBITDA Growth	-14.63%	66.74%	-33.45%	5.95%	0.21%	58.69%	42.42%	-5.38%	89.19%	-40.73%
EBIT Growth	-22.73%	120.57%	-50.67%	7.02%	-4.13%	91.95%	117.15%	-40.21%	220.56%	-66.80%
NOPAT Growth	2.60%	103.55%	-50.40%	-1.87%	3.30%	49.41%	-54.02%	296.04%	109.30%	-1,082.59%
Net Income Growth	-14.78%	111.35%	-56.06%	84.54%	-40.37%	83.87%	-5.90%	51.05%	1,594.62%	-108.30%
EPS Growth	-24.46%	127.42%	-67.04%	93.92%	-43.73%	80.14%	-11.52%	-14.51%	4,925.00%	-102.92%
Operating Cash Flow Growth	-18.66%	29.62%	14.56%	-5.52%	5.86%	-5.88%	45.45%	36.60%	17.20%	50.71%
Free Cash Flow Firm Growth	-168.14%	12.71%	691.32%	-129.53%	4.99%	-62.40%	119.48%	-7,372.09%	95.64%	-168.81%
Invested Capital Growth	10.34%	-1.62%	-3.42%	6.48%	1.93%	1.96%	-5.50%	116.93%	5.85%	-13.07%
Revenue Q/Q Growth	1.94%	1.10%	-1.64%	-0.51%	-1.90%	8.31%	-10.15%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-15.94%	32.36%	-25.51%	-4.43%	13.44%	7.08%	115.54%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	-21.87%	53.36%	-40.65%	-5.86%	18.00%	5.98%	1,576.20%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.45%	70.46%	-48.08%	-7.04%	16.61%	1.64%	1,589.83%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	-20.61%	91.35%	-52.72%	-0.68%	37.11%	-2.10%	44.81%	0.00%	0.00%	0.00%
EPS Q/Q Growth	-42.98%	77.79%	-64.97%	0.70%	54.17%	-9.00%	58.70%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-9.76%	3.08%	19.23%	-7.43%	4.94%	2.68%	5.75%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	28.44%	27.43%	63.88%	-269.76%	-34.89%	-47.46%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-3.41%	-1.97%	-2.62%	2.10%	0.91%	-1.83%	-4.97%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.69%	51.05%	38.87%	39.02%	47.12%	38.08%	36.61%	35.47%	30.54%	25.31%
EBITDA Margin	25.23%	33.19%	16.71%	26.84%	30.46%	24.14%	17.27%	11.69%	16.94%	9.42%
Operating Margin	18.04%	19.82%	9.71%	16.58%	20.36%	16.50%	10.38%	3.54%	7.47%	5.51%
EBIT Margin	15.56%	22.62%	8.61%	18.66%	20.97%	17.37%	10.27%	4.56%	10.45%	3.43%
Profit (Net Income) Margin	10.53%	13.88%	5.51%	13.41%	8.74%	11.64%	7.19%	7.36%	6.68%	-0.47%
Tax Burden Percent	77.15%	76.89%	64.69%	81.69%	81.53%	77.33%	93.36%	573.99%	94.21%	-1,445.45%
Interest Burden Percent	87.70%	79.79%	98.98%	87.99%	51.13%	86.66%	74.94%	28.13%	67.84%	0.95%
Effective Tax Rate	22.85%	23.11%	35.31%	18.31%	18.47%	22.67%	6.64%	-473.99%	5.79%	1,545.45%
Return on Invested Capital (ROIC)	5.27%	5.36%	2.57%	5.24%	5.57%	5.50%	3.61%	10.45%	4.30%	-44.28%
ROIC Less NNEP Spread (ROIC-NNEP)	2.74%	4.38%	1.94%	5.14%	-0.55%	4.29%	1.28%	-4.11%	3.93%	27.87%
Return on Net Nonoperating Assets (RNNOA)	2.82%	4.23%	1.94%	4.64%	-0.42%	2.87%	0.86%	-3.47%	5.51%	43.61%
Return on Equity (ROE)	8.09%	9.59%	4.50%	9.88%	5.15%	8.37%	4.47%	6.98%	9.81%	-0.67%
Cash Return on Invested Capital (CROIC)	-4.56%	6.99%	6.04%	-1.04%	3.66%	3.55%	9.27%	-63.34%	-1.38%	-30.30%
Operating Return on Assets (OROA)	4.00%	5.55%	2.56%	5.33%	5.11%	5.40%	2.78%	1.67%	4.32%	1.35%
Return on Assets (ROA)	2.71%	3.41%	1.64%	3.83%	2.13%	3.62%	1.95%	2.70%	2.76%	-0.19%
Return on Common Equity (ROCE)	6.89%	8.08%	3.77%	8.25%	4.31%	7.03%	3.49%	4.75%	5.46%	-0.35%
Return on Equity Simple (ROE_SIMPLE)	8.54%	9.86%	4.91%	10.38%	5.57%	8.82%	4.80%	5.62%	10.80%	-0.84%
Net Operating Profit after Tax (NOPAT)	5,169	5,038	2,475	4,990	5,085	4,923	3,295	7,166	1,809	-19,460
NOPAT Margin	13.92%	15.24%	6.28%	13.55%	16.60%	12.76%	9.69%	20.32%	7.04%	-79.64%
Net Nonoperating Expense Percent (NNEP)	2.53%	0.97%	0.63%	0.11%	6.12%	1.20%	2.33%	14.56%	0.37%	-72.15%
Return On Investment Capital (ROIC_SIMPLE)	4.36%	4.57%	2.32%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	54.31%	48.95%	61.13%	60.98%	52.88%	61.92%	63.39%	64.53%	69.46%	74.69%
SG&A Expenses to Revenue	17.63%	19.70%	15.42%	14.26%	17.27%	13.96%	14.64%	14.52%	12.61%	12.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.65%	31.23%	29.15%	22.44%	26.76%	21.58%	26.22%	31.93%	23.07%	19.80%
Earnings before Interest and Taxes (EBIT)	5,780	7,480	3,391	6,875	6,424	6,701	3,491	1,608	2,689	839
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9,368	10,974	6,581	9,890	9,334	9,314	5,870	4,121	4,356	2,302
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.22	1.70	1.73	1.64	1.24	1.34	0.83	0.61	2.19	1.91
Price to Tangible Book Value (P/TBV)	7.33	4.82	5.52	5.33	3.51	3.39	2.06	2.42	2.48	2.16
Price to Revenue (P/Rev)	2.45	2.13	1.72	1.85	1.70	1.56	1.11	0.69	0.90	0.70
Price to Earnings (P/E)	25.95	15.90	35.42	14.94	22.21	14.65	20.42	12.12	17.43	0.00
Dividend Yield	6.37%	7.94%	7.92%	7.99%	9.41%	7.47%	9.50%	7.15%	6.02%	7.30%
Earnings Yield	3.85%	6.29%	2.82%	6.70%	4.50%	6.83%	4.90%	8.25%	5.74%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.48	1.31	1.30	1.26	1.10	1.16	0.91	0.83	1.28	1.19
Enterprise Value to Revenue (EV/Rev)	4.11	3.69	3.12	3.37	3.32	2.72	2.37	2.20	2.16	2.00
Enterprise Value to EBITDA (EV/EBITDA)	16.31	11.12	18.66	12.54	10.88	11.29	13.73	18.85	12.74	21.19
Enterprise Value to EBIT (EV/EBIT)	26.44	16.32	36.21	18.05	15.81	15.69	23.09	48.32	20.63	58.16
Enterprise Value to NOPAT (EV/NOPAT)	29.56	24.22	49.61	24.86	19.98	21.35	24.47	10.84	30.66	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	17.46	11.35	14.80	17.13	13.25	14.51	10.47	14.68	14.32	14.76
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	18.57	21.06	0.00	30.43	33.05	9.53	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.48	1.26	1.28	1.19	1.04	0.94	0.88	0.93	1.61	1.88
Long-Term Debt to Equity	1.36	1.16	1.15	1.07	0.98	0.86	0.82	0.87	1.44	1.76
Financial Leverage	1.03	0.97	1.00	0.90	0.76	0.67	0.67	0.84	1.40	1.56
Leverage Ratio	2.99	2.81	2.75	2.58	2.42	2.31	2.30	2.59	3.56	3.61
Compound Leverage Factor	2.62	2.25	2.72	2.27	1.24	2.00	1.72	0.73	2.41	0.03
Debt to Total Capital	59.61%	55.74%	56.09%	54.41%	50.97%	48.35%	46.80%	48.29%	61.76%	65.27%
Short-Term Debt to Total Capital	4.84%	4.45%	5.57%	5.52%	3.11%	3.95%	3.10%	3.20%	6.71%	4.03%
Long-Term Debt to Total Capital	54.77%	51.29%	50.52%	48.89%	47.86%	44.40%	43.70%	45.09%	55.04%	61.24%
Preferred Equity to Total Capital	4.00%	4.68%	4.72%	5.57%	5.90%	5.77%	5.61%	5.74%	10.94%	10.13%
Noncontrolling Interests to Total Capital	1.75%	2.08%	2.43%	1.83%	2.28%	2.50%	2.87%	8.64%	5.99%	5.35%
Common Equity to Total Capital	34.64%	37.50%	36.76%	38.18%	40.85%	43.38%	44.71%	37.33%	21.31%	19.25%
Debt to EBITDA	7.54	5.60	9.09	5.99	5.62	5.38	8.07	12.57	7.00	13.18
Net Debt to EBITDA	5.86	4.03	7.20	4.86	4.42	3.92	5.86	9.19	5.53	10.64
Long-Term Debt to EBITDA	6.92	5.16	8.19	5.38	5.28	4.94	7.53	11.74	6.24	12.37
Debt to NOPAT	13.66	12.21	24.18	11.86	10.31	10.17	14.37	7.23	16.84	-1.56
Net Debt to NOPAT	10.62	8.78	19.15	9.62	8.11	7.41	10.44	5.29	13.31	-1.26
Long-Term Debt to NOPAT	12.55	11.23	21.78	10.66	9.68	9.34	13.42	6.75	15.01	-1.46
Altman Z-Score	0.71	0.75	0.68	0.79	0.69	0.87	0.61	0.45	0.78	0.63
Noncontrolling Interest Sharing Ratio	14.76%	15.77%	16.26%	16.47%	16.34%	15.98%	21.97%	31.99%	44.41%	48.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.55	0.83	0.60	0.49	0.53	0.55	0.58	0.63	0.63	0.70
Quick Ratio	0.37	0.60	0.32	0.40	0.41	0.46	0.48	0.52	0.53	0.60
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4,478	6,572	5,831	-986	3,339	3,180	8,458	-43,429	-581	-13,316
Operating Cash Flow to CapEx	187.75%	305.14%	241.66%	118.39%	180.96%	277.88%	446.13%	86.93%	138.84%	64.14%
Free Cash Flow to Firm to Interest Expense	-1.46	2.28	2.48	-0.47	1.53	1.55	4.27	-21.38	-0.49	-11.34
Operating Cash Flow to Interest Expense	2.85	3.73	3.53	3.49	3.51	3.53	3.89	2.60	3.27	2.81
Operating Cash Flow Less CapEx to Interest Expense	1.33	2.50	2.07	0.54	1.57	2.26	3.01	-0.39	0.92	-1.57
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.25	0.30	0.29	0.24	0.31	0.27	0.37	0.41	0.39
Accounts Receivable Turnover	8.98	8.66	8.13	7.65	6.54	7.70	6.49	7.54	6.73	5.50
Inventory Turnover	18.73	11.62	16.20	17.89	14.70	24.11	19.63	21.35	20.76	20.37
Fixed Asset Turnover	0.44	0.42	0.51	0.48	0.42	0.55	0.48	0.59	0.54	0.53
Accounts Payable Turnover	4.92	4.09	3.90	3.01	2.17	3.21	2.92	3.51	3.33	3.36
Days Sales Outstanding (DSO)	40.66	42.17	44.88	47.69	55.79	47.42	56.25	48.42	54.26	66.31
Days Inventory Outstanding (DIO)	19.49	31.42	22.53	20.40	24.84	15.14	18.60	17.10	17.58	17.92
Days Payable Outstanding (DPO)	74.21	89.33	93.61	121.44	167.86	113.78	125.02	103.94	109.76	108.63
Cash Conversion Cycle (CCC)	-14.07	-15.74	-26.20	-53.35	-87.23	-51.22	-50.17	-38.42	-37.92	-24.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	102,925	93,278	94,811	98,166	92,190	90,443	88,701	93,864	43,269	40,879
Invested Capital Turnover	0.38	0.35	0.41	0.39	0.34	0.43	0.37	0.51	0.61	0.56
Increase / (Decrease) in Invested Capital	9,647	-1,533	-3,355	5,976	1,747	1,743	-5,163	50,594	2,391	-6,144
Enterprise Value (EV)	152,794	122,046	122,803	124,064	101,585	105,115	80,610	77,682	55,480	48,784
Market Capitalization	91,060	70,336	67,773	67,983	51,938	60,080	37,629	24,365	23,041	17,093
Book Value per Share	$18.84	$19.47	$19.37	$20.51	$20.75	$22.20	$26.23	$42.46	$12.12	$10.51
Tangible Book Value per Share	$5.71	$6.86	$6.06	$6.30	$7.30	$8.75	$10.58	$10.67	$10.70	$9.30
Total Capital	118,448	110,348	106,694	108,795	102,896	103,556	101,156	107,265	49,338	46,506
Total Debt	70,606	61,505	59,843	59,200	52,441	50,065	47,345	51,797	30,470	30,353
Total Long-Term Debt	64,871	56,594	53,901	53,190	49,244	45,979	44,206	48,368	27,158	28,481
Net Debt	54,921	44,252	47,397	48,028	41,225	36,472	34,399	37,892	24,086	24,492
Capital Expenditures (CapEx)	4,660	3,525	3,434	6,119	4,237	2,606	1,725	6,086	2,790	5,153
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,976	-1,922	-754	-1,496	-2,384	-1,972	-1,932	-1,336	-1,241	-1,213
Debt-free Net Working Capital (DFNWC)	-1,660	2,612	-84	-1,245	-2,000	-1,451	-1,466	-869	-78	-454
Net Working Capital (NWC)	-7,395	-2,300	-6,026	-7,255	-5,197	-5,537	-4,604	-4,298	-3,390	-2,326
Net Nonoperating Expense (NNE)	1,259	450	304	49	2,407	432	852	4,571	91	-19,345
Net Nonoperating Obligations (NNO)	55,083	44,434	47,960	48,571	41,735	36,953	34,889	38,396	24,401	24,727
Total Depreciation and Amortization (D&A)	3,588	3,494	3,190	3,015	2,910	2,613	2,379	2,514	1,667	1,463
Debt-free, Cash-free Net Working Capital to Revenue	-8.02%	-5.81%	-1.91%	-4.06%	-7.78%	-5.11%	-5.69%	-3.79%	-4.82%	-4.96%
Debt-free Net Working Capital to Revenue	-4.47%	7.90%	-0.21%	-3.38%	-6.53%	-3.76%	-4.31%	-2.47%	-0.30%	-1.86%
Net Working Capital to Revenue	-19.91%	-6.96%	-15.30%	-19.69%	-16.96%	-14.35%	-13.55%	-12.19%	-13.18%	-9.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.63	$2.84	$1.28	$2.87	$1.48	$2.64	$1.46	$1.66	$1.95	($0.04)
Adjusted Weighted Average Basic Shares Outstanding	2.18B	2.13B	2.02B	2.03B	2.03B	2.02B	2.02B	1.70B	943.11M	867.61M
Adjusted Diluted Earnings per Share	$1.63	$2.84	$1.28	$2.87	$1.48	$2.63	$1.46	$1.65	$1.93	($0.04)
Adjusted Weighted Average Diluted Shares Outstanding	2.18B	2.13B	2.02B	2.03B	2.03B	2.02B	2.02B	1.70B	943.11M	867.61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.18B	2.13B	2.02B	2.03B	2.03B	2.02B	2.02B	1.70B	943.11M	867.61M
Normalized Net Operating Profit after Tax (NOPAT)	5,271	5,282	3,912	4,990	5,085	5,175	4,747	3,413	2,774	1,214
Normalized NOPAT Margin	14.20%	15.98%	9.93%	13.55%	16.60%	13.41%	13.97%	9.68%	10.79%	4.97%
Pre Tax Income Margin	13.65%	18.05%	8.52%	16.42%	10.72%	15.05%	7.70%	1.28%	7.09%	0.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.88	2.59	1.44	3.31	2.94	3.27	1.76	0.79	2.27	0.71
NOPAT to Interest Expense	1.68	1.74	1.05	2.40	2.33	2.40	1.66	3.53	1.53	-16.57
EBIT Less CapEx to Interest Expense	0.36	1.37	-0.02	0.36	1.00	2.00	0.89	-2.21	-0.09	-3.67
NOPAT Less CapEx to Interest Expense	0.17	0.52	-0.41	-0.54	0.39	1.13	0.79	0.53	-0.83	-20.96
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	152.64%	131.91%	257.49%	117.26%	211.94%	113.44%	152.72%	136.96%	102.43%	-1,277.99%
Augmented Payout Ratio	152.64%	133.97%	262.63%	123.84%	211.94%	113.44%	152.72%	136.96%	102.43%	-1,277.99%

This table displays calculated financial ratios and metrics derived from Enbridge's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.86%	51.45%	5.08%	-8.69%	4.18%	-13.58%	-23.21%	-26.19%	-7.10%	-7.15%
EBITDA Growth	-55.68%	61.80%	-17.13%	-14.34%	527.78%	35.81%	93.72%	-8.25%	-81.59%	-24.95%
EBIT Growth	-72.09%	95.53%	-25.88%	-21.94%	725.78%	50.87%	178.67%	-11.37%	-118.25%	-38.19%
NOPAT Growth	-8.81%	22.82%	-13.98%	3.90%	355.12%	4.60%	45.58%	2.71%	-132.61%	19.23%
Net Income Growth	-82.10%	132.68%	-3.30%	-16.22%	229.60%	-54.23%	220.66%	-16.28%	-165.05%	56.30%
EPS Growth	-126.19%	127.33%	-8.61%	-21.18%	149.41%	-69.51%	212.59%	-10.53%	-194.44%	85.29%
Operating Cash Flow Growth	-30.72%	4.70%	-23.68%	-18.58%	11.63%	67.49%	40.30%	21.40%	94.12%	-26.36%
Free Cash Flow Firm Growth	-436.93%	-404.57%	-196.23%	-149.51%	-12.40%	2,181.72%	305.43%	290.32%	162.42%	95.94%
Invested Capital Growth	10.34%	11.98%	6.90%	6.06%	-1.62%	-2.26%	-4.21%	-6.70%	-3.42%	1.26%
Revenue Q/Q Growth	-12.09%	32.96%	1.62%	-9.19%	23.44%	-7.75%	-11.69%	3.61%	2.39%	-18.04%
EBITDA Q/Q Growth	-51.52%	14.00%	3.35%	-22.40%	76.97%	-41.62%	6.84%	468.69%	-61.71%	-16.72%
EBIT Q/Q Growth	-67.38%	17.18%	2.70%	-28.90%	128.52%	-55.58%	8.17%	669.94%	-155.10%	-17.96%
NOPAT Q/Q Growth	-29.31%	11.33%	-24.47%	53.43%	-4.80%	-22.03%	-8.77%	476.72%	-139.03%	8.52%
Net Income Q/Q Growth	-79.34%	-26.76%	26.51%	-6.52%	168.64%	-69.56%	9.61%	244.60%	-194.87%	113.25%
EPS Q/Q Growth	-125.19%	-30.52%	-6.19%	-18.29%	118.64%	-72.07%	-19.09%	263.46%	-234.92%	186.36%
Operating Cash Flow Q/Q Growth	-5.39%	11.04%	-12.69%	-24.47%	42.98%	-19.06%	-6.86%	3.57%	114.51%	-32.20%
Free Cash Flow Firm Q/Q Growth	13.53%	-85.37%	-30.98%	-303.26%	-21.83%	-41.43%	-32.61%	183.94%	1,957.42%	94.22%
Invested Capital Q/Q Growth	-3.41%	3.60%	2.21%	7.26%	-1.97%	-1.10%	1.41%	0.08%	-2.62%	-3.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.54%	39.08%	51.64%	54.70%	52.19%	50.92%	52.87%	48.41%	44.96%	42.71%
EBITDA Margin	14.61%	26.49%	30.90%	30.38%	35.55%	24.79%	39.18%	32.38%	5.90%	15.78%
Operating Margin	14.41%	14.90%	20.05%	24.56%	16.52%	18.22%	22.53%	22.05%	-6.80%	15.36%
EBIT Margin	6.47%	17.43%	19.78%	19.57%	24.99%	13.50%	28.04%	22.89%	-4.16%	7.73%
Profit (Net Income) Margin	2.29%	9.72%	17.65%	14.18%	13.77%	6.33%	19.18%	15.45%	-11.07%	11.95%
Tax Burden Percent	68.39%	82.26%	73.03%	80.22%	70.58%	82.96%	79.40%	78.54%	164.95%	81.31%
Interest Burden Percent	51.67%	67.81%	122.21%	90.32%	78.08%	56.51%	86.15%	85.96%	161.31%	190.06%
Effective Tax Rate	31.61%	17.74%	26.97%	19.78%	29.42%	17.04%	20.60%	21.46%	0.00%	18.69%
Return on Invested Capital (ROIC)	3.73%	4.43%	4.81%	6.51%	4.10%	5.14%	6.16%	6.38%	-1.94%	5.17%
ROIC Less NNEP Spread (ROIC-NNEP)	2.26%	3.87%	5.31%	5.59%	4.51%	3.76%	6.36%	6.04%	-3.07%	5.07%
Return on Net Nonoperating Assets (RNNOA)	2.32%	3.82%	5.29%	5.58%	4.35%	3.51%	6.34%	5.88%	-3.07%	4.73%
Return on Equity (ROE)	6.06%	8.25%	10.10%	12.09%	8.45%	8.64%	12.49%	12.27%	-5.02%	9.90%
Cash Return on Invested Capital (CROIC)	-4.56%	-6.20%	-1.79%	-0.68%	6.99%	5.36%	7.38%	9.43%	6.04%	3.68%
Operating Return on Assets (OROA)	1.66%	4.47%	4.64%	4.65%	6.14%	3.34%	7.14%	6.22%	-1.24%	2.36%
Return on Assets (ROA)	0.59%	2.49%	4.14%	3.37%	3.38%	1.57%	4.89%	4.20%	-3.29%	3.65%
Return on Common Equity (ROCE)	5.16%	7.05%	8.59%	10.25%	7.12%	7.39%	10.59%	10.38%	-4.20%	8.42%
Return on Equity Simple (ROE_SIMPLE)	0.00%	10.12%	8.78%	9.20%	0.00%	4.99%	6.43%	4.18%	0.00%	9.74%
Net Operating Profit after Tax (NOPAT)	955	1,350	1,213	1,606	1,047	1,100	1,410	1,546	-410	1,051
NOPAT Margin	9.86%	12.26%	14.64%	19.70%	11.66%	15.12%	17.89%	17.31%	-4.76%	12.49%
Net Nonoperating Expense Percent (NNEP)	1.47%	0.56%	-0.50%	0.92%	-0.41%	1.38%	-0.21%	0.34%	1.13%	0.10%
Return On Investment Capital (ROIC_SIMPLE)	0.81%	-	-	-	0.95%	-	-	-	-0.38%	-
Cost of Revenue to Revenue	59.46%	60.92%	48.36%	45.30%	47.81%	49.08%	47.13%	51.59%	55.04%	57.29%
SG&A Expenses to Revenue	16.48%	15.33%	20.36%	19.33%	21.80%	20.88%	19.44%	16.87%	17.45%	18.05%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.12%	24.18%	31.59%	30.14%	35.67%	32.70%	30.34%	26.36%	51.77%	27.35%
Earnings before Interest and Taxes (EBIT)	626	1,920	1,638	1,595	2,244	982	2,211	2,044	-359	651
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,415	2,918	2,559	2,476	3,191	1,803	3,089	2,891	508	1,328
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.22	2.03	1.71	0.00	1.70	1.45	1.72	1.77	1.73	1.60
Price to Tangible Book Value (P/TBV)	7.33	6.06	4.80	0.00	4.82	3.81	5.09	5.27	5.52	4.99
Price to Revenue (P/Rev)	2.45	2.43	2.31	0.00	2.13	1.91	2.06	1.98	1.72	1.69
Price to Earnings (P/E)	25.95	18.78	18.26	0.00	15.90	28.84	25.86	43.45	35.42	16.09
Dividend Yield	6.37%	6.56%	7.47%	7.31%	7.94%	8.52%	7.64%	7.45%	7.92%	8.01%
Earnings Yield	3.85%	5.32%	5.48%	0.00%	6.29%	3.47%	3.87%	2.30%	2.82%	6.21%
Enterprise Value to Invested Capital (EV/IC)	1.48	1.41	1.30	0.00	1.31	1.20	1.30	1.32	1.30	1.26
Enterprise Value to Revenue (EV/Rev)	4.11	4.13	4.09	0.00	3.69	3.48	3.68	3.47	3.12	3.05
Enterprise Value to EBITDA (EV/EBITDA)	16.31	13.50	13.32	0.00	11.12	13.74	15.95	19.87	18.66	13.84
Enterprise Value to EBIT (EV/EBIT)	26.44	20.34	20.68	0.00	16.32	23.35	27.43	40.15	36.21	21.40
Enterprise Value to NOPAT (EV/NOPAT)	29.56	29.24	27.51	0.00	24.22	38.53	41.11	51.20	49.61	25.64
Enterprise Value to Operating Cash Flow (EV/OCF)	17.46	15.52	13.92	0.00	11.35	10.91	13.03	14.27	14.80	17.56
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	18.57	22.09	17.18	13.55	21.06	34.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.48	1.39	1.31	1.30	1.26	1.13	1.24	1.24	1.28	1.22
Long-Term Debt to Equity	1.36	1.27	1.21	1.21	1.16	1.00	1.13	1.10	1.15	1.10
Financial Leverage	1.03	0.99	1.00	1.00	0.97	0.93	1.00	0.97	1.00	0.93
Leverage Ratio	2.99	2.80	2.79	2.78	2.81	2.65	2.70	2.68	2.75	2.62
Compound Leverage Factor	1.54	1.90	3.41	2.51	2.20	1.50	2.32	2.30	4.43	4.98
Debt to Total Capital	59.61%	58.08%	56.73%	56.55%	55.74%	53.10%	55.37%	55.35%	56.09%	54.94%
Short-Term Debt to Total Capital	4.84%	4.86%	4.26%	4.00%	4.45%	5.97%	4.83%	6.09%	5.57%	5.52%
Long-Term Debt to Total Capital	54.77%	53.22%	52.47%	52.55%	51.29%	47.12%	50.54%	49.26%	50.52%	49.42%
Preferred Equity to Total Capital	4.00%	4.16%	4.20%	4.40%	4.68%	4.67%	4.75%	4.68%	4.72%	4.56%
Noncontrolling Interests to Total Capital	1.75%	1.82%	1.86%	1.96%	2.08%	2.32%	2.38%	2.39%	2.43%	1.74%
Common Equity to Total Capital	34.64%	35.94%	37.21%	37.09%	37.50%	39.92%	37.49%	37.57%	36.76%	38.77%
Debt to EBITDA	7.54	6.33	6.71	6.13	5.60	6.91	7.68	9.43	9.09	6.77
Net Debt to EBITDA	5.86	4.92	5.06	4.76	4.03	5.31	6.04	7.32	7.20	5.42
Long-Term Debt to EBITDA	6.92	5.80	6.21	5.69	5.16	6.13	7.01	8.39	8.19	6.09
Debt to NOPAT	13.66	13.71	13.86	12.72	12.21	19.38	19.80	24.29	24.18	12.54
Net Debt to NOPAT	10.62	10.65	10.44	9.88	8.78	14.90	15.56	18.86	19.15	10.04
Long-Term Debt to NOPAT	12.55	12.56	12.82	11.82	11.23	17.20	18.07	21.62	21.78	11.28
Altman Z-Score	0.60	0.65	0.60	0.00	0.62	0.58	0.67	0.69	0.59	0.68
Noncontrolling Interest Sharing Ratio	14.76%	14.58%	14.97%	15.24%	15.77%	14.44%	15.23%	15.33%	16.26%	14.98%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.55	0.62	0.77	0.68	0.83	0.67	0.64	0.59	0.60	0.60
Quick Ratio	0.37	0.40	0.52	0.42	0.60	0.40	0.35	0.35	0.32	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-8,693	-10,053	-5,423	-4,140	2,580	3,301	5,636	8,362	2,945	-159
Operating Cash Flow to CapEx	135.30%	183.20%	208.21%	265.91%	280.37%	255.17%	356.39%	342.43%	249.95%	166.14%
Free Cash Flow to Firm to Interest Expense	-13.64	-10.34	-6.86	-6.19	2.96	4.85	8.45	12.50	5.14	-0.27
Operating Cash Flow to Interest Expense	3.35	2.32	2.57	3.48	3.54	3.17	3.99	4.27	4.82	2.20
Operating Cash Flow Less CapEx to Interest Expense	0.87	1.05	1.34	2.17	2.28	1.93	2.87	3.02	2.89	0.87
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.26	0.23	0.24	0.25	0.25	0.25	0.27	0.30	0.31
Accounts Receivable Turnover	8.98	10.02	10.08	8.86	8.66	7.73	7.52	6.90	8.13	7.59
Inventory Turnover	18.73	15.94	16.29	15.34	11.62	11.62	16.90	21.52	16.20	17.17
Fixed Asset Turnover	0.44	0.43	0.39	0.40	0.42	0.42	0.43	0.46	0.51	0.52
Accounts Payable Turnover	4.92	4.83	5.06	5.18	4.09	3.39	3.81	4.19	3.90	3.64
Days Sales Outstanding (DSO)	40.66	36.42	36.22	41.18	42.17	47.20	48.51	52.90	44.88	48.11
Days Inventory Outstanding (DIO)	19.49	22.90	22.41	23.79	31.42	31.41	21.59	16.96	22.53	21.26
Days Payable Outstanding (DPO)	74.21	75.59	72.16	70.52	89.33	107.79	95.68	87.17	93.61	100.18
Cash Conversion Cycle (CCC)	-14.07	-16.26	-13.54	-5.54	-15.74	-29.18	-25.58	-17.31	-26.20	-30.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	102,925	106,560	102,853	100,630	93,278	95,156	96,217	94,884	94,811	97,357
Invested Capital Turnover	0.38	0.36	0.33	0.33	0.35	0.34	0.34	0.37	0.41	0.41
Increase / (Decrease) in Invested Capital	9,647	11,404	6,636	5,746	-1,533	-2,201	-4,225	-6,816	-3,355	1,210
Enterprise Value (EV)	152,794	150,483	133,583	0.00	122,046	113,891	124,692	125,622	122,803	122,260
Market Capitalization	91,060	88,425	75,668	0.00	70,336	62,324	69,757	71,722	67,773	67,555
Book Value per Share	$18.84	$20.04	$20.76	$19.95	$19.47	$21.29	$20.08	$19.98	$19.37	$20.83
Tangible Book Value per Share	$5.71	$6.70	$7.42	$6.47	$6.86	$8.09	$6.77	$6.72	$6.06	$6.69
Total Capital	118,448	121,441	118,639	114,391	110,348	107,860	108,451	107,681	106,694	108,819
Total Debt	70,606	70,536	67,299	64,684	61,505	57,270	60,054	59,603	59,843	59,786
Total Long-Term Debt	64,871	64,629	62,249	60,108	56,594	50,826	54,814	53,043	53,901	53,781
Net Debt	54,921	54,799	50,723	50,233	44,252	44,032	47,198	46,282	47,397	47,858
Capital Expenditures (CapEx)	1,578	1,232	976	875	1,099	845	747	835	1,104	774
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,976	-875	-452	78	-1,922	355	595	711	-754	71
Debt-free Net Working Capital (DFNWC)	-1,660	611	2,251	1,100	2,612	2,311	1,419	1,488	-84	840
Net Working Capital (NWC)	-7,395	-5,296	-2,800	-3,476	-2,300	-4,133	-3,822	-5,072	-6,026	-5,165
Net Nonoperating Expense (NNE)	733	279	-249	450	-190	639	-102	166	544	46
Net Nonoperating Obligations (NNO)	55,083	55,655	51,513	50,923	44,434	44,566	47,820	46,806	47,960	48,325
Total Depreciation and Amortization (D&A)	788	998	921	881	947	821	878	847	867	677
Debt-free, Cash-free Net Working Capital to Revenue	-8.02%	-2.40%	-1.38%	0.24%	-5.81%	1.09%	1.76%	1.96%	-1.91%	0.18%
Debt-free Net Working Capital to Revenue	-4.47%	1.68%	6.89%	3.41%	7.90%	7.07%	4.19%	4.11%	-0.21%	2.10%
Net Working Capital to Revenue	-19.91%	-14.54%	-8.57%	-10.76%	-6.96%	-12.64%	-11.29%	-14.00%	-15.30%	-12.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.11)	$0.44	$0.63	$0.67	$0.41	$0.26	$0.91	$0.86	($0.85)	$0.63
Adjusted Weighted Average Basic Shares Outstanding	2.18B	2.18B	2.18B	2.13B	2.13B	2.13B	2.02B	2.02B	2.02B	2.02B
Adjusted Diluted Earnings per Share	($0.11)	$0.44	$0.63	$0.67	$0.42	$0.26	$0.91	$0.85	($0.85)	$0.63
Adjusted Weighted Average Diluted Shares Outstanding	2.18B	2.18B	2.18B	2.13B	2.13B	2.13B	2.02B	2.02B	2.02B	2.02B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.18B	2.18B	2.18B	2.13B	2.13B	2.13B	2.02B	2.02B	2.02B	2.02B
Normalized Net Operating Profit after Tax (NOPAT)	955	1,350	1,213	1,606	1,047	1,100	1,410	1,546	-410	1,051
Normalized NOPAT Margin	9.86%	12.26%	14.64%	19.70%	11.66%	15.12%	17.89%	17.31%	-4.76%	12.49%
Pre Tax Income Margin	3.34%	11.82%	24.17%	17.68%	19.51%	7.63%	24.16%	19.68%	-6.71%	14.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.98	1.97	2.07	2.39	2.58	1.44	3.31	3.05	-0.63	1.11
NOPAT to Interest Expense	1.50	1.39	1.53	2.40	1.20	1.62	2.11	2.31	-0.72	1.79
EBIT Less CapEx to Interest Expense	-1.49	0.71	0.84	1.08	1.32	0.20	2.19	1.81	-2.55	-0.21
NOPAT Less CapEx to Interest Expense	-0.98	0.12	0.30	1.09	-0.06	0.37	0.99	1.06	-2.65	0.47
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	152.64%	130.35%	142.80%	141.04%	131.91%	243.95%	191.72%	290.80%	257.49%	120.29%
Augmented Payout Ratio	152.64%	130.39%	142.80%	141.04%	133.97%	247.87%	194.73%	290.80%	262.63%	127.78%

Frequently Asked Questions About Enbridge's Financials

When does Enbridge's financial year end?

According to the most recent income statement we have on file, Enbridge's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Enbridge's net income changed over the last 9 years?

Enbridge's net income appears to be on an upward trend, with a most recent value of $3.91 billion in 2024, falling from -$114.96 million in 2015. The previous period was $4.59 billion in 2023. See where experts think Enbridge is headed by visiting Enbridge's forecast page.

What is Enbridge's operating income?

Enbridge's total operating income in 2024 was $6.70 billion, based on the following breakdown:

Total Gross Profit: $16.97 billion
Total Operating Expenses: $10.27 billion

How has Enbridge revenue changed over the last 9 years?

Over the last 9 years, Enbridge's total revenue changed from $24.43 billion in 2015 to $37.13 billion in 2024, a change of 52.0%.

How much debt does Enbridge have?

Enbridge's total liabilities were at $104.22 billion at the end of 2024, a 18.8% increase from 2023, and a 131.8% increase since 2015.

How much cash does Enbridge have?

In the past 9 years, Enbridge's cash and equivalents has ranged from $223.84 million in 2021 to $4.47 billion in 2023, and is currently $1.25 billion as of their latest financial filing in 2024.

How has Enbridge's book value per share changed over the last 9 years?

Over the last 9 years, Enbridge's book value per share changed from 10.51 in 2015 to 18.84 in 2024, a change of 79.2%.

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This page (NYSE:ENB) was last updated on 5/28/2025 by MarketBeat.com Staff

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Enbridge (ENB) Financials

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