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Enbridge (ENB) Financials

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$47.03 -0.05 (-0.11%)
Closing price 08/8/2025 03:59 PM Eastern
Extended Trading
$47.24 +0.21 (+0.46%)
As of 08/8/2025 07:49 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Enbridge

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
994 -27 1,322 2,010 1,843 4,102 2,338 4,552 1,913 4,423 3,509
Consolidated Net Income / (Loss)
1,385 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910
Net Income / (Loss) Continuing Operations
1,345 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910
Total Pre-Tax Income
1,871 7.95 1,824 452 2,616 5,807 3,285 6,049 3,356 5,968 5,069
Total Operating Income
2,755 1,346 1,921 1,248 3,529 6,366 6,238 6,109 3,826 6,553 6,701
Total Gross Profit
7,024 6,184 7,855 12,509 12,440 14,693 14,438 14,377 15,312 16,879 16,967
Total Revenue
32,409 24,435 25,718 35,266 33,985 38,587 30,641 36,840 39,395 33,062 37,134
Operating Revenue
32,409 24,435 25,718 35,266 33,985 38,587 30,641 36,840 39,395 33,062 37,134
Total Cost of Revenue
25,385 18,250 17,864 22,757 21,544 23,894 16,203 22,464 24,083 16,184 20,167
Operating Cost of Revenue
25,385 18,250 17,864 22,757 21,544 23,894 16,203 22,464 24,083 16,184 20,167
Total Operating Expenses
4,269 4,838 5,934 11,261 8,911 8,327 8,200 8,268 11,485 10,326 10,267
Selling, General & Admin Expense
2,825 2,987 3,243 5,119 4,977 5,388 5,291 5,253 6,074 6,514 6,547
Depreciation Expense
1,358 1,463 1,667 2,514 2,379 2,613 2,910 3,015 3,190 3,494 3,588
Impairment Charge
0.00 388 1,024 3,628 1,556 326 0.00 0.00 2,221 317 132
Total Other Income / (Expense), net
-884 -1,338 -97 -796 -913 -559 -2,953 -59 -470 -585 -1,632
Interest Expense
972 1,174 1,183 2,031 1,981 2,052 2,187 2,078 2,349 2,887 3,069
Interest & Investment Income
317 343 319 876 1,106 1,158 -952 1,252 2,315 1,376 2,358
Other Income / (Expense), net
-229 -508 768 359 -38 335 187 766 -435 927 -921
Income Tax Expense
526 123 106 -2,143 174 1,316 607 1,107 1,185 1,379 1,158
Preferred Stock Dividends Declared
216 208 218 262 269 295 298 292 306 267 269
Net Income / (Loss) Attributable to Noncontrolling Interest
175 -296 179 323 330 94 42 98 -48 -101 132
Basic Earnings per Share
$1.39 ($0.04) $1.95 $1.66 $1.46 $2.64 $1.48 $2.87 $0.95 $2.15 $1.63
Weighted Average Basic Shares Outstanding
851.64M 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B
Diluted Earnings per Share
$1.37 ($0.04) $1.93 $1.65 $1.46 $2.63 $1.48 $2.87 $0.95 $2.15 $1.63
Weighted Average Diluted Shares Outstanding
851.64M 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B
Weighted Average Basic & Diluted Shares Outstanding
851.64M 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B
Cash Dividends to Common per Share
$1.40 $1.86 $2.12 $2.41 $2.68 $2.95 $3.24 $3.34 $3.44 $3.55 $3.66

Quarterly Income Statements for Enbridge

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 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
-910 1,281 1,397 393 1,352 1,048 1,350 957 154 1,572 1,598
Consolidated Net Income / (Loss)
-954 1,380 1,512 460 1,237 1,156 1,462 1,071 221 1,732 1,704
Net Income / (Loss) Continuing Operations
-954 1,380 1,512 460 1,237 1,156 1,462 1,071 221 1,732 1,704
Total Pre-Tax Income
-578 1,757 1,904 555 1,752 1,441 2,002 1,302 324 2,216 2,193
Total Operating Income
-586 1,968 1,776 1,325 1,483 2,002 1,661 1,642 1,396 2,554 1,681
Total Gross Profit
3,874 4,322 4,168 3,704 4,685 4,459 4,278 4,305 3,925 5,251 4,640
Total Revenue
8,617 8,928 7,884 7,273 8,978 8,152 8,284 11,015 9,683 12,867 10,922
Operating Revenue
8,617 8,928 7,884 7,273 8,978 8,152 8,284 11,015 9,683 12,867 10,922
Total Cost of Revenue
4,743 4,606 3,716 3,569 4,292 3,693 4,006 6,710 5,758 7,616 6,282
Operating Cost of Revenue
4,743 4,606 3,716 3,569 4,292 3,693 4,006 6,710 5,758 7,616 6,282
Total Operating Expenses
4,461 2,353 2,392 2,378 3,202 2,457 2,617 2,663 2,530 2,698 2,960
Selling, General & Admin Expense
1,503 1,506 1,533 1,518 1,957 1,576 1,687 1,688 1,596 1,718 1,696
Depreciation Expense
736 847 859 860 928 881 930 975 802 979 1,021
Impairment Charge
- - - - - - 0.00 - - - 242
Total Other Income / (Expense), net
7.74 -211 128 -771 269 -561 341 -340 -1,072 -337 512
Interest Expense
573 669 667 680 871 668 791 973 637 928 867
Interest & Investment Income
353 382 361 253 379 514 1,155 355 334 507 374
Other Income / (Expense), net
228 75 435 -344 761 -407 -23 278 -770 83 1,005
Income Tax Expense
376 377 392 95 515 285 540 231 102 485 489
Preferred Stock Dividends Declared
51 62 66 66 73 69 69 73 59 72 75
Net Income / (Loss) Attributable to Noncontrolling Interest
-95 36 50 1.48 -188 39 42 41 8.97 88 31
Basic Earnings per Share
($0.85) $0.86 $0.69 $0.19 $0.41 $0.49 $0.63 $0.44 ($0.11) $0.72 $0.73
Weighted Average Basic Shares Outstanding
2.02B 2.02B 2.02B 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B
Diluted Earnings per Share
($0.85) $0.85 $0.69 $0.19 $0.42 $0.49 $0.63 $0.44 ($0.11) $0.72 $0.73
Weighted Average Diluted Shares Outstanding
2.02B 2.02B 2.02B 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B
Weighted Average Basic & Diluted Shares Outstanding
2.02B 2.02B 2.02B 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B
Cash Dividends to Common per Share
- $0.89 $0.89 $0.89 - $0.92 $0.92 - - - $0.94

Annual Cash Flow Statements for Enbridge

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
418 -105 650 -775 37 30 -146 -133 434 3,846 -2,767
Net Cash From Operating Activities
2,193 3,305 3,873 5,291 7,696 7,243 7,667 7,244 8,299 10,757 8,750
Net Cash From Continuing Operating Activities
2,177 3,305 3,873 5,291 7,696 7,243 7,667 7,244 8,299 10,757 8,750
Net Income / (Loss) Continuing Operations
1,345 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910
Consolidated Net Income / (Loss)
1,385 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910
Depreciation Expense
1,358 1,463 1,667 2,514 2,379 2,613 2,910 3,015 3,190 3,494 3,588
Non-Cash Adjustments To Reconcile Net Income
1,004 2,454 762 451 2,204 338 2,007 435 2,946 923 1,344
Changes in Operating Assets and Liabilities, net
-1,530 -497 -274 -269 670 -200 73 -1,147 -8.87 1,750 -92
Net Cash From Investing Activities
-10,238 -5,736 -3,834 -8,771 -2,211 -3,590 -4,058 -8,341 -3,894 -4,577 -14,141
Net Cash From Continuing Investing Activities
-10,242 -5,736 -3,834 -8,771 -2,211 -3,590 -4,058 -8,341 -3,894 -4,577 -14,141
Purchase of Property, Plant & Equipment
-9,061 -5,259 -3,816 -6,586 -4,987 -4,233 -4,237 -6,119 -3,434 -3,525 -4,660
Acquisitions
-518 -150 -574 -627 -396 -154 -187 -3,178 -740 -891 -9,508
Purchase of Investments
-735 -407 -383 -2,867 -1,017 -893 -382 -501 -670 -967 -2,371
Divestitures
- 0.00 0.00 542 - - 208 988 386 0.00 1,892
Sale and/or Maturity of Investments
11 0.00 0.00 99 936 79 540 468 564 851 545
Other Investing Activities, net
-11 -26 -88 168 -8.79 -15 - 0.00 0.00 -46 -39
Net Cash From Financing Activities
8,412 2,223 625 2,762 -5,498 -3,657 -3,739 967 -4,011 -2,169 2,461
Net Cash From Continuing Financing Activities
8,412 2,223 625 2,762 -5,498 -3,657 -3,739 967 -4,011 -2,169 2,461
Repayment of Debt
-539 -740 -1,448 -3,443 -3,582 -3,750 -3,394 4,755 2,598 6,724 2,085
Repurchase of Preferred Equity
- - 0.00 0.00 -154 -231 0.00 0.00 -741 0.00 0.00
Repurchase of Common Equity
- - - - - - 0.00 -325 -112 -95 0.00
Payment of Dividends
-1,385 -1,469 -1,760 -3,555 -3,730 -5,094 -5,675 -5,795 -5,590 -6,053 -5,969
Issuance of Debt
8,288 3,461 1,142 6,543 939 5,395 1,209 2,317 -985 -6,125 4,617
Issuance of Common Equity
594 486 1,703 1,892 33 23 22 16 12 3,379 1,728
Other Financing Activities, net
278 484 440 936 996 - 4,100 0.00 807 0.00 0.00
Effect of Exchange Rate Changes
51 103 -14 -57 50 34 -16 -3.91 41 -164 163
Cash Interest Paid
1,236 1,327 1,354 2,120 1,838 2,110 1,990 1,900 2,158 2,560 2,871
Cash Income Taxes Paid
7.75 58 144 137 203 440 411 383 366 438 598

Quarterly Cash Flow Statements for Enbridge

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 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
-102 106 32 1,147 2,561 -3,397 1,727 -1,203 107 224 -648
Net Cash From Operating Activities
2,760 2,858 2,662 2,155 3,081 2,327 2,032 2,256 2,135 2,123 2,496
Net Cash From Continuing Operating Activities
2,760 2,858 2,662 2,155 3,081 2,327 2,032 2,256 2,135 2,123 2,496
Net Income / (Loss) Continuing Operations
-772 1,380 1,543 395 1,271 1,156 1,450 1,104 200 1,732 1,801
Consolidated Net Income / (Loss)
-772 1,380 1,543 395 1,271 1,156 1,450 1,104 200 1,732 1,801
Depreciation Expense
867 847 878 821 947 881 921 998 788 979 1,076
Non-Cash Adjustments To Reconcile Net Income
2,236 -44 -11 787 191 512 -190 44 978 38 -389
Changes in Operating Assets and Liabilities, net
429 676 252 151 671 -222 -149 110 168 -625 7.74
Net Cash From Investing Activities
-1,598 -1,062 -701 -825 -1,989 -5,755 -2,452 -3,573 -2,362 -1,244 -2,168
Net Cash From Continuing Investing Activities
-1,598 -1,062 -701 -825 -1,989 -5,755 -2,452 -3,573 -2,362 -1,244 -2,168
Purchase of Property, Plant & Equipment
-1,104 -835 -747 -845 -1,099 -875 -976 -1,232 -1,578 -1,198 -1,462
Acquisitions
-431 -49 -398 -35 -409 -4,756 -2,952 -2,079 278 -42 -49
Purchase of Investments
-258 -305 -51 -3.10 -607 -304 -642 -424 -1,001 -211 -802
Divestitures
6.17 - - - - 0.00 - 25 -124 90 5.04
Sale and/or Maturity of Investments
189 126 496 81 149 196 142 141 66 128 154
Other Investing Activities, net
- 0.00 - -23 -23 -17 -14 -4.84 -2.62 -11 -15
Net Cash From Financing Activities
-1,259 -1,692 -1,912 -197 1,633 -89 2,125 142 283 -661 -930
Net Cash From Continuing Financing Activities
-1,259 -1,692 -1,912 -197 1,633 -89 2,125 142 283 -661 -930
Repayment of Debt
679 1,886 -295 3,016 2,117 -2,842 3,987 1,442 -503 229 1,829
Payment of Dividends
-1,468 -1,460 -1,534 -1,388 -1,671 -1,563 -1,539 -1,647 -1,219 -1,569 -1,742
Issuance of Debt
-1,266 -2,122 8.18 -5,116 1,105 4,315 -2,138 322 2,119 673 -1,019
Issuance of Common Equity
2.37 2.96 3.09 3,289 84 1.48 1,816 25 -114 6.95 2.59
Effect of Exchange Rate Changes
-5.17 2.96 -17 14 -164 119 21 -29 51 5.56 -46

Annual Balance Sheets for Enbridge

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
62,730 61,108 63,409 128,812 122,304 125,741 125,642 132,162 132,728 136,583 152,065
Total Current Assets
7,061 5,493 5,795 7,323 6,281 6,715 5,762 7,012 8,977 10,907 9,141
Cash & Equivalents
1,086 734 1,112 381 380 499 354 224 636 4,470 1,252
Restricted Cash
40 25 51 85 87 22 30 27 34 64 64
Accounts Receivable
4,946 3,931 3,715 5,642 4,833 5,193 4,174 5,454 4,234 3,405 4,868
Inventories, net
988 803 918 1,214 981 1,001 1,204 1,307 1,666 1,120 1,033
Other Current Assets
- - - - - - - - 2,405 1,848 1,924
Plant, Property, & Equipment, net
46,348 46,589 47,838 72,086 69,277 72,230 74,135 78,318 77,195 79,261 91,044
Total Noncurrent Assets
9,321 9,026 9,844 49,403 46,746 46,796 45,745 46,833 46,557 45,872 51,879
Long-Term Investments
4,656 5,103 5,221 13,439 12,479 13,072 10,832 10,921 11,777 12,720 15,062
Goodwill
416 58 58 27,382 25,251 25,550 25,624 25,652 23,973 24,124 25,417
Intangible Assets
1,004 975 1,171 2,596 1,738 1,675 1,631 3,137 2,969 2,679 3,185
Noncurrent Deferred & Refundable Income Taxes
483 607 871 866 1,007 771 604 382 349 258 553
Other Noncurrent Operating Assets
2,762 2,285 2,523 5,119 6,271 5,728 7,054 6,741 7,490 6,091 7,663
Total Liabilities & Shareholders' Equity
62,730 61,108 63,409 128,812 122,304 125,741 125,642 132,162 132,728 136,583 152,065
Total Liabilities
44,606 44,956 44,541 73,344 68,493 72,251 75,187 82,567 85,878 87,740 104,222
Total Current Liabilities
8,180 7,819 9,185 11,621 10,885 12,252 10,958 14,267 15,002 13,206 16,536
Short-Term Debt
2,197 1,872 3,312 3,429 3,138 4,086 3,197 6,010 5,942 4,911 5,735
Accounts Payable
5,548 5,315 5,429 7,532 7,227 7,669 7,234 7,715 4,639 3,283 4,918
Other Current Liabilities
69 296 91 125 29 16 17 - 3,858 4,286 5,028
Other Current Nonoperating Liabilities
227 234 248 504 490 481 510 542 564 726 855
Total Noncurrent Liabilities
36,426 37,137 35,356 61,723 57,607 59,999 64,229 68,300 70,876 74,533 87,686
Long-Term Debt
32,257 28,481 27,158 48,368 44,206 45,979 49,244 53,190 53,901 56,594 64,871
Noncurrent Deferred & Payable Income Tax Liabilities
4,169 4,277 4,492 7,387 6,928 7,604 8,099 9,148 10,184 11,385 13,608
Other Noncurrent Operating Liabilities
- 4,379 3,707 5,968 6,473 6,415 6,885 5,961 6,791 6,554 9,207
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
16,188 14,604 16,344 52,236 53,812 53,490 50,455 49,595 46,850 48,843 47,842
Total Preferred & Common Equity
14,453 13,664 15,915 46,199 50,906 50,898 48,106 47,606 44,256 46,549 45,764
Preferred Stock
5,609 4,711 5,399 6,156 5,677 5,970 6,073 6,063 5,038 5,164 4,735
Total Common Equity
8,843 8,953 10,516 40,042 45,229 44,927 42,033 41,543 39,217 41,385 41,029
Common Stock
7,937 7,731 10,337 42,858 47,394 50,042 50,989 51,001 48,060 52,604 50,009
Retained Earnings
1,353 103 -533 -1,961 -4,058 -4,866 -7,835 -8,601 -11,444 -12,964 -13,921
Accumulated Other Comprehensive Income / (Loss)
-375 1,180 787 -773 1,958 -210 -1,098 -858 2,601 1,744 4,941
Noncontrolling Interest
1,735 940 429 6,037 2,905 2,593 2,349 1,990 2,595 2,294 2,078

Quarterly Balance Sheets for Enbridge

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 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets
132,728 130,921 131,456 131,814 136,583 140,852 147,079 152,300 152,065 153,032 155,354
Total Current Assets
8,977 7,333 6,778 8,224 10,907 7,394 9,134 8,804 9,141 9,457 8,129
Cash & Equivalents
636 722 778 1,927 4,470 897 2,621 1,388 1,252 1,451 883
Restricted Cash
34 55 45 29 64 126 83 98 64 88 61
Accounts Receivable
4,234 3,590 2,941 3,074 3,405 3,696 3,546 4,195 4,868 5,367 4,059
Inventories, net
1,666 969 915 1,157 1,120 1,021 995 1,190 1,033 854 1,038
Other Current Assets
2,405 1,997 2,097 2,037 1,848 1,654 1,890 1,932 1,924 1,697 2,088
Plant, Property, & Equipment, net
77,195 77,080 78,563 78,005 79,261 83,785 87,904 92,095 91,044 91,511 94,111
Total Noncurrent Assets
46,557 46,507 46,115 45,585 45,872 49,672 50,041 51,402 51,186 51,324 53,114
Long-Term Investments
11,777 12,544 12,033 11,283 12,720 13,428 13,873 14,251 14,369 14,589 16,092
Goodwill
23,973 23,964 24,098 23,931 24,124 25,328 25,077 25,800 25,417 25,453 25,816
Intangible Assets
2,969 2,893 2,845 2,756 2,679 3,344 3,292 3,259 3,185 3,140 3,140
Noncurrent Deferred & Refundable Income Taxes
349 342 198 293 258 348 341 366 553 550 400
Other Noncurrent Operating Assets
7,490 6,764 6,942 7,322 6,091 7,225 7,457 7,727 7,663 7,592 7,666
Total Liabilities & Shareholders' Equity
132,728 130,921 131,456 131,814 136,583 140,852 147,079 152,300 152,065 153,032 155,354
Total Liabilities
85,878 82,843 83,059 81,223 87,740 91,145 95,740 101,395 104,222 103,460 105,164
Total Current Liabilities
15,002 12,405 10,599 12,357 13,206 10,870 11,934 14,100 16,536 12,959 10,872
Short-Term Debt
5,942 6,560 5,240 6,444 4,911 4,576 5,050 5,907 5,735 4,141 2,990
Accounts Payable
4,639 3,065 2,802 3,272 3,283 2,836 3,351 4,473 4,918 4,616 4,258
Other Current Liabilities
3,858 2,256 1,934 2,106 4,286 2,768 2,742 2,864 5,028 3,388 2,764
Other Current Nonoperating Liabilities
564 524 623 534 726 690 791 856 855 815 860
Total Noncurrent Liabilities
70,876 70,438 72,460 68,867 74,533 80,275 83,806 87,296 87,686 90,501 94,293
Long-Term Debt
53,901 53,043 54,814 50,826 56,594 60,108 62,249 64,629 64,871 67,570 71,205
Noncurrent Deferred & Payable Income Tax Liabilities
10,184 10,567 10,960 11,046 11,385 12,324 13,090 13,597 13,608 13,893 14,446
Other Noncurrent Operating Liabilities
6,791 6,828 6,686 6,994 6,554 7,843 8,467 9,070 9,207 9,037 8,642
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
46,850 48,078 48,396 50,590 48,843 49,707 51,340 50,905 47,842 49,572 50,189
Total Preferred & Common Equity
44,256 45,500 45,812 48,092 46,549 47,460 49,129 48,692 45,764 47,471 48,053
Preferred Stock
5,038 5,041 5,153 5,037 5,164 5,035 4,982 5,046 4,735 4,742 5,006
Total Common Equity
39,217 40,459 40,659 43,054 41,385 42,425 44,146 43,646 41,029 42,729 43,047
Common Stock
48,060 48,095 49,112 51,316 52,604 51,311 52,594 53,285 50,009 50,099 52,899
Retained Earnings
-11,444 -10,169 -10,388 -11,089 -12,964 -11,592 -11,542 -12,209 -13,921 -12,369 -12,968
Accumulated Other Comprehensive Income / (Loss)
2,601 2,533 1,935 2,827 1,744 2,706 3,094 2,570 4,941 4,999 3,116
Noncontrolling Interest
2,595 2,577 2,585 2,499 2,294 2,247 2,211 2,213 2,078 2,102 2,137

Annual Metrics And Ratios for Enbridge

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
4.72% -24.61% 5.25% 37.13% -3.63% 13.54% -20.59% 20.23% 6.93% -16.07% 12.31%
EBITDA Growth
58.89% -40.73% 89.19% -5.38% 42.42% 58.69% 0.21% 5.95% -33.45% 66.74% -14.63%
EBIT Growth
118.45% -66.80% 220.56% -40.21% 117.15% 91.95% -4.13% 7.02% -50.67% 120.57% -22.73%
NOPAT Growth
93.06% -1,082.59% 109.30% 296.04% -54.02% 49.41% 3.30% -1.87% -50.40% 103.55% 2.60%
Net Income Growth
198.10% -108.30% 1,594.62% 51.05% -5.90% 83.87% -40.37% 84.54% -56.06% 111.35% -14.78%
EPS Growth
149.09% -102.92% 4,925.00% -14.51% -11.52% 80.14% -43.73% 93.92% -67.04% 127.42% -24.46%
Operating Cash Flow Growth
-30.18% 50.71% 17.20% 36.60% 45.45% -5.88% 5.86% -5.52% 14.56% 29.62% -18.66%
Free Cash Flow Firm Growth
-5.52% -168.81% 95.64% -7,372.09% 119.48% -62.40% 4.99% -129.53% 691.32% 12.71% -168.14%
Invested Capital Growth
17.30% -13.07% 5.85% 116.93% -5.50% 1.96% 1.93% 6.48% -3.42% -1.62% 10.34%
Revenue Q/Q Growth
0.00% 0.00% 0.00% 0.00% -10.15% 8.31% -1.90% -0.51% -1.64% 1.10% 1.94%
EBITDA Q/Q Growth
0.00% 0.00% 0.00% 0.00% 115.54% 7.08% 13.44% -4.43% -25.51% 32.36% -15.94%
EBIT Q/Q Growth
0.00% 0.00% 0.00% 0.00% 1,576.20% 5.98% 18.00% -5.86% -40.65% 53.36% -21.87%
NOPAT Q/Q Growth
0.00% 0.00% 0.00% 0.00% 1,589.83% 1.64% 16.61% -7.04% -48.08% 70.46% 0.45%
Net Income Q/Q Growth
0.00% 0.00% 0.00% 0.00% 44.81% -2.10% 37.11% -0.68% -52.72% 91.35% -20.61%
EPS Q/Q Growth
0.00% 0.00% 0.00% 0.00% 58.70% -9.00% 54.17% 0.70% -64.97% 77.79% -42.98%
Operating Cash Flow Q/Q Growth
0.00% 0.00% 0.00% 0.00% 5.75% 2.68% 4.94% -7.43% 19.23% 3.08% -9.76%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% -47.46% -34.89% -269.76% 63.88% 27.43% 28.44%
Invested Capital Q/Q Growth
0.00% 0.00% 0.00% 0.00% -4.97% -1.83% 0.91% 2.10% -2.62% -1.97% -3.41%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
21.67% 25.31% 30.54% 35.47% 36.61% 38.08% 47.12% 39.02% 38.87% 51.05% 45.69%
EBITDA Margin
11.98% 9.42% 16.94% 11.69% 17.27% 24.14% 30.46% 26.84% 16.71% 33.19% 25.23%
Operating Margin
8.50% 5.51% 7.47% 3.54% 10.38% 16.50% 20.36% 16.58% 9.71% 19.82% 18.04%
EBIT Margin
7.79% 3.43% 10.45% 4.56% 10.27% 17.37% 20.97% 18.66% 8.61% 22.62% 15.56%
Profit (Net Income) Margin
4.27% -0.47% 6.68% 7.36% 7.19% 11.64% 8.74% 13.41% 5.51% 13.88% 10.53%
Tax Burden Percent
74.00% -1,445.45% 94.21% 573.99% 93.36% 77.33% 81.53% 81.69% 64.69% 76.89% 77.15%
Interest Burden Percent
74.06% 0.95% 67.84% 28.13% 74.94% 86.66% 51.13% 87.99% 98.98% 79.79% 87.70%
Effective Tax Rate
28.12% 1,545.45% 5.79% -473.99% 6.64% 22.67% 18.47% 18.31% 35.31% 23.11% 22.85%
Return on Invested Capital (ROIC)
4.55% -44.28% 4.30% 10.45% 3.61% 5.50% 5.57% 5.24% 2.57% 5.36% 5.27%
ROIC Less NNEP Spread (ROIC-NNEP)
2.23% 27.87% 3.93% -4.11% 1.28% 4.29% -0.55% 5.14% 1.94% 4.38% 2.74%
Return on Net Nonoperating Assets (RNNOA)
3.24% 43.61% 5.51% -3.47% 0.86% 2.87% -0.42% 4.64% 1.94% 4.23% 2.82%
Return on Equity (ROE)
7.78% -0.67% 9.81% 6.98% 4.47% 8.37% 5.15% 9.88% 4.50% 9.59% 8.09%
Cash Return on Invested Capital (CROIC)
-11.37% -30.30% -1.38% -63.34% 9.27% 3.55% 3.66% -1.04% 6.04% 6.99% -4.56%
Operating Return on Assets (OROA)
4.32% 1.35% 4.32% 1.67% 2.78% 5.40% 5.11% 5.33% 2.56% 5.55% 4.00%
Return on Assets (ROA)
2.37% -0.19% 2.76% 2.70% 1.95% 3.62% 2.13% 3.83% 1.64% 3.41% 2.71%
Return on Common Equity (ROCE)
3.65% -0.35% 5.46% 4.75% 3.49% 7.03% 4.31% 8.25% 3.77% 8.08% 6.89%
Return on Equity Simple (ROE_SIMPLE)
9.58% -0.84% 10.80% 5.62% 4.80% 8.82% 5.57% 10.38% 4.91% 9.86% 8.54%
Net Operating Profit after Tax (NOPAT)
1,981 -19,460 1,809 7,166 3,295 4,923 5,085 4,990 2,475 5,038 5,169
NOPAT Margin
6.11% -79.64% 7.04% 20.32% 9.69% 12.76% 16.60% 13.55% 6.28% 15.24% 13.92%
Net Nonoperating Expense Percent (NNEP)
2.31% -72.15% 0.37% 14.56% 2.33% 1.20% 6.12% 0.11% 0.63% 0.97% 2.53%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - - 2.32% 4.57% 4.36%
Cost of Revenue to Revenue
78.33% 74.69% 69.46% 64.53% 63.39% 61.92% 52.88% 60.98% 61.13% 48.95% 54.31%
SG&A Expenses to Revenue
8.72% 12.22% 12.61% 14.52% 14.64% 13.96% 17.27% 14.26% 15.42% 19.70% 17.63%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
13.17% 19.80% 23.07% 31.93% 26.22% 21.58% 26.76% 22.44% 29.15% 31.23% 27.65%
Earnings before Interest and Taxes (EBIT)
2,526 839 2,689 1,608 3,491 6,701 6,424 6,875 3,391 7,480 5,780
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
3,884 2,302 4,356 4,121 5,870 9,314 9,334 9,890 6,581 10,974 9,368
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.83 1.91 2.19 0.61 0.83 1.34 1.24 1.64 1.73 1.70 2.22
Price to Tangible Book Value (P/TBV)
3.37 2.16 2.48 2.42 2.06 3.39 3.51 5.33 5.52 4.82 7.33
Price to Revenue (P/Rev)
0.77 0.70 0.90 0.69 1.11 1.56 1.70 1.85 1.72 2.13 2.45
Price to Earnings (P/E)
25.16 0.00 17.43 12.12 20.42 14.65 22.21 14.94 35.42 15.90 25.95
Dividend Yield
4.21% 7.30% 6.02% 7.15% 9.50% 7.47% 9.41% 7.99% 7.92% 7.94% 6.37%
Earnings Yield
3.97% 0.00% 5.74% 8.25% 4.90% 6.83% 4.50% 6.70% 2.82% 6.29% 3.85%
Enterprise Value to Invested Capital (EV/IC)
1.34 1.19 1.28 0.83 0.91 1.16 1.10 1.26 1.30 1.31 1.48
Enterprise Value to Revenue (EV/Rev)
1.94 2.00 2.16 2.20 2.37 2.72 3.32 3.37 3.12 3.69 4.11
Enterprise Value to EBITDA (EV/EBITDA)
16.21 21.19 12.74 18.85 13.73 11.29 10.88 12.54 18.66 11.12 16.31
Enterprise Value to EBIT (EV/EBIT)
24.92 58.16 20.63 48.32 23.09 15.69 15.81 18.05 36.21 16.32 26.44
Enterprise Value to NOPAT (EV/NOPAT)
31.79 0.00 30.66 10.84 24.47 21.35 19.98 24.86 49.61 24.22 29.56
Enterprise Value to Operating Cash Flow (EV/OCF)
28.71 14.76 14.32 14.68 10.47 14.51 13.25 17.13 14.80 11.35 17.46
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 9.53 33.05 30.43 0.00 21.06 18.57 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.90 1.88 1.61 0.93 0.88 0.94 1.04 1.19 1.28 1.26 1.48
Long-Term Debt to Equity
1.78 1.76 1.44 0.87 0.82 0.86 0.98 1.07 1.15 1.16 1.36
Financial Leverage
1.45 1.56 1.40 0.84 0.67 0.67 0.76 0.90 1.00 0.97 1.03
Leverage Ratio
3.28 3.61 3.56 2.59 2.30 2.31 2.42 2.58 2.75 2.81 2.99
Compound Leverage Factor
2.43 0.03 2.41 0.73 1.72 2.00 1.24 2.27 2.72 2.25 2.62
Debt to Total Capital
65.53% 65.27% 61.76% 48.29% 46.80% 48.35% 50.97% 54.41% 56.09% 55.74% 59.61%
Short-Term Debt to Total Capital
4.18% 4.03% 6.71% 3.20% 3.10% 3.95% 3.11% 5.52% 5.57% 4.45% 4.84%
Long-Term Debt to Total Capital
61.35% 61.24% 55.04% 45.09% 43.70% 44.40% 47.86% 48.89% 50.52% 51.29% 54.77%
Preferred Equity to Total Capital
10.67% 10.13% 10.94% 5.74% 5.61% 5.77% 5.90% 5.57% 4.72% 4.68% 4.00%
Noncontrolling Interests to Total Capital
6.98% 5.35% 5.99% 8.64% 2.87% 2.50% 2.28% 1.83% 2.43% 2.08% 1.75%
Common Equity to Total Capital
16.82% 19.25% 21.31% 37.33% 44.71% 43.38% 40.85% 38.18% 36.76% 37.50% 34.64%
Debt to EBITDA
8.87 13.18 7.00 12.57 8.07 5.38 5.62 5.99 9.09 5.60 7.54
Net Debt to EBITDA
7.38 10.64 5.53 9.19 5.86 3.92 4.42 4.86 7.20 4.03 5.86
Long-Term Debt to EBITDA
8.31 12.37 6.24 11.74 7.53 4.94 5.28 5.38 8.19 5.16 6.92
Debt to NOPAT
17.40 -1.56 16.84 7.23 14.37 10.17 10.31 11.86 24.18 12.21 13.66
Net Debt to NOPAT
14.48 -1.26 13.31 5.29 10.44 7.41 8.11 9.62 19.15 8.78 10.62
Long-Term Debt to NOPAT
16.29 -1.46 15.01 6.75 13.42 9.34 9.68 10.66 21.78 11.23 12.55
Altman Z-Score
0.99 0.63 0.78 0.45 0.61 0.87 0.69 0.79 0.68 0.75 0.71
Noncontrolling Interest Sharing Ratio
53.06% 48.08% 44.41% 31.99% 21.97% 15.98% 16.34% 16.47% 16.26% 15.77% 14.76%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.86 0.70 0.63 0.63 0.58 0.55 0.53 0.49 0.60 0.83 0.55
Quick Ratio
0.74 0.60 0.53 0.52 0.48 0.46 0.41 0.40 0.32 0.60 0.37
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-4,954 -13,316 -581 -43,429 8,458 3,180 3,339 -986 5,831 6,572 -4,478
Operating Cash Flow to CapEx
24.40% 64.14% 138.84% 86.93% 446.13% 277.88% 180.96% 118.39% 241.66% 305.14% 187.75%
Free Cash Flow to Firm to Interest Expense
-5.10 -11.34 -0.49 -21.38 4.27 1.55 1.53 -0.47 2.48 2.28 -1.46
Operating Cash Flow to Interest Expense
2.26 2.81 3.27 2.60 3.89 3.53 3.51 3.49 3.53 3.73 2.85
Operating Cash Flow Less CapEx to Interest Expense
-6.99 -1.57 0.92 -0.39 3.01 2.26 1.57 0.54 2.07 2.50 1.33
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.55 0.39 0.41 0.37 0.27 0.31 0.24 0.29 0.30 0.25 0.26
Accounts Receivable Turnover
6.71 5.50 6.73 7.54 6.49 7.70 6.54 7.65 8.13 8.66 8.98
Inventory Turnover
24.93 20.37 20.76 21.35 19.63 24.11 14.70 17.89 16.20 11.62 18.73
Fixed Asset Turnover
0.75 0.53 0.54 0.59 0.48 0.55 0.42 0.48 0.51 0.42 0.44
Accounts Payable Turnover
4.30 3.36 3.33 3.51 2.92 3.21 2.17 3.01 3.90 4.09 4.92
Days Sales Outstanding (DSO)
54.44 66.31 54.26 48.42 56.25 47.42 55.79 47.69 44.88 42.17 40.66
Days Inventory Outstanding (DIO)
14.64 17.92 17.58 17.10 18.60 15.14 24.84 20.40 22.53 31.42 19.49
Days Payable Outstanding (DPO)
84.93 108.63 109.76 103.94 125.02 113.78 167.86 121.44 93.61 89.33 74.21
Cash Conversion Cycle (CCC)
-15.85 -24.41 -37.92 -38.42 -50.17 -51.22 -87.23 -53.35 -26.20 -15.74 -14.07
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
47,023 40,879 43,269 93,864 88,701 90,443 92,190 98,166 94,811 93,278 102,925
Invested Capital Turnover
0.74 0.56 0.61 0.51 0.37 0.43 0.34 0.39 0.41 0.35 0.38
Increase / (Decrease) in Invested Capital
6,934 -6,144 2,391 50,594 -5,163 1,743 1,747 5,976 -3,355 -1,533 9,647
Enterprise Value (EV)
62,955 48,784 55,480 77,682 80,610 105,115 101,585 124,064 122,803 122,046 152,794
Market Capitalization
25,003 17,093 23,041 24,365 37,629 60,080 51,938 67,983 67,773 70,336 91,060
Book Value per Share
$10.64 $10.51 $12.12 $42.46 $26.23 $22.20 $20.75 $20.51 $19.37 $19.47 $18.84
Tangible Book Value per Share
$8.93 $9.30 $10.70 $10.67 $10.58 $8.75 $7.30 $6.30 $6.06 $6.86 $5.71
Total Capital
52,578 46,506 49,338 107,265 101,156 103,556 102,896 108,795 106,694 110,348 118,448
Total Debt
34,454 30,353 30,470 51,797 47,345 50,065 52,441 59,200 59,843 61,505 70,606
Total Long-Term Debt
32,257 28,481 27,158 48,368 44,206 45,979 49,244 53,190 53,901 56,594 64,871
Net Debt
28,672 24,492 24,086 37,892 34,399 36,472 41,225 48,028 47,397 44,252 54,921
Capital Expenditures (CapEx)
8,988 5,153 2,790 6,086 1,725 2,606 4,237 6,119 3,434 3,525 4,660
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-48 -1,213 -1,241 -1,336 -1,932 -1,972 -2,384 -1,496 -754 -1,922 -2,976
Debt-free Net Working Capital (DFNWC)
1,078 -454 -78 -869 -1,466 -1,451 -2,000 -1,245 -84 2,612 -1,660
Net Working Capital (NWC)
-1,119 -2,326 -3,390 -4,298 -4,604 -5,537 -5,197 -7,255 -6,026 -2,300 -7,395
Net Nonoperating Expense (NNE)
596 -19,345 91 4,571 852 432 2,407 49 304 450 1,259
Net Nonoperating Obligations (NNO)
28,899 24,727 24,401 38,396 34,889 36,953 41,735 48,571 47,960 44,434 55,083
Total Depreciation and Amortization (D&A)
1,358 1,463 1,667 2,514 2,379 2,613 2,910 3,015 3,190 3,494 3,588
Debt-free, Cash-free Net Working Capital to Revenue
-0.15% -4.96% -4.82% -3.79% -5.69% -5.11% -7.78% -4.06% -1.91% -5.81% -8.02%
Debt-free Net Working Capital to Revenue
3.33% -1.86% -0.30% -2.47% -4.31% -3.76% -6.53% -3.38% -0.21% 7.90% -4.47%
Net Working Capital to Revenue
-3.45% -9.52% -13.18% -12.19% -13.55% -14.35% -16.96% -19.69% -15.30% -6.96% -19.91%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.39 ($0.04) $1.95 $1.66 $1.46 $2.64 $1.48 $2.87 $1.28 $2.84 $1.63
Adjusted Weighted Average Basic Shares Outstanding
851.64M 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B
Adjusted Diluted Earnings per Share
$1.37 ($0.04) $1.93 $1.65 $1.46 $2.63 $1.48 $2.87 $1.28 $2.84 $1.63
Adjusted Weighted Average Diluted Shares Outstanding
851.64M 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
851.64M 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B
Normalized Net Operating Profit after Tax (NOPAT)
2,042 1,214 2,774 3,413 4,747 5,175 5,085 4,990 3,912 5,282 5,271
Normalized NOPAT Margin
6.30% 4.97% 10.79% 9.68% 13.97% 13.41% 16.60% 13.55% 9.93% 15.98% 14.20%
Pre Tax Income Margin
5.77% 0.03% 7.09% 1.28% 7.70% 15.05% 10.72% 16.42% 8.52% 18.05% 13.65%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
2.60 0.71 2.27 0.79 1.76 3.27 2.94 3.31 1.44 2.59 1.88
NOPAT to Interest Expense
2.04 -16.57 1.53 3.53 1.66 2.40 2.33 2.40 1.05 1.74 1.68
EBIT Less CapEx to Interest Expense
-6.65 -3.67 -0.09 -2.21 0.89 2.00 1.00 0.36 -0.02 1.37 0.36
NOPAT Less CapEx to Interest Expense
-7.21 -20.96 -0.83 0.53 0.79 1.13 0.39 -0.54 -0.41 0.52 0.17
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
100.00% -1,277.99% 102.43% 136.96% 152.72% 113.44% 211.94% 117.26% 257.49% 131.91% 152.64%
Augmented Payout Ratio
100.00% -1,277.99% 102.43% 136.96% 152.72% 113.44% 211.94% 123.84% 262.63% 133.97% 152.64%

Quarterly Metrics And Ratios for Enbridge

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-7.10% -26.19% -23.21% -13.58% 4.18% -8.69% 5.08% 51.45% 7.86% 57.84% 31.84%
EBITDA Growth
-81.59% -8.25% 93.72% 35.81% 527.78% -14.34% -17.13% 61.80% -55.68% 46.04% 46.97%
EBIT Growth
-118.25% -11.37% 178.67% 50.87% 725.78% -21.94% -25.88% 95.53% -72.09% 65.31% 63.92%
NOPAT Growth
-132.61% 2.71% 45.58% 4.60% 355.12% 3.90% -13.98% 22.82% -8.81% 24.23% 7.65%
Net Income Growth
-165.05% -16.28% 220.66% -54.23% 229.60% -16.22% -3.30% 132.68% -82.10% 49.82% 16.54%
EPS Growth
-194.44% -10.53% 212.59% -69.51% 149.41% -21.18% -8.61% 127.33% -126.19% 44.77% 16.82%
Operating Cash Flow Growth
94.12% 21.40% 40.30% 67.49% 11.63% -18.58% -23.68% 4.70% -30.72% -8.76% 22.82%
Free Cash Flow Firm Growth
162.42% 290.32% 305.43% 2,181.72% -12.40% -149.51% -196.23% -404.57% -436.93% 37.11% 25.33%
Invested Capital Growth
-3.42% -6.70% -4.21% -2.26% -1.62% 6.06% 6.90% 11.98% 10.34% 4.57% 5.21%
Revenue Q/Q Growth
2.39% 3.61% -11.69% -7.75% 23.44% -9.19% 1.62% 32.96% -12.09% 32.89% -15.12%
EBITDA Q/Q Growth
-61.71% 468.69% 6.84% -41.62% 76.97% -22.40% 3.35% 14.00% -51.52% 155.66% 4.02%
EBIT Q/Q Growth
-155.10% 669.94% 8.17% -55.58% 128.52% -28.90% 2.70% 17.18% -67.38% 321.10% 1.84%
NOPAT Q/Q Growth
-139.03% 476.72% -8.77% -22.03% -4.80% 53.43% -24.47% 11.33% -29.31% 109.01% -34.55%
Net Income Q/Q Growth
-194.87% 244.60% 9.61% -69.56% 168.64% -6.52% 26.51% -26.76% -79.34% 682.47% -1.59%
EPS Q/Q Growth
-234.92% 263.46% -19.09% -72.07% 118.64% -18.29% -6.19% -30.52% -125.19% 751.18% 2.50%
Operating Cash Flow Q/Q Growth
114.51% 3.57% -6.86% -19.06% 42.98% -24.47% -12.69% 11.04% -5.39% -0.53% 17.54%
Free Cash Flow Firm Q/Q Growth
1,957.42% 183.94% -32.61% -41.43% -21.83% -303.26% -30.98% -85.37% 13.53% 70.05% -55.52%
Invested Capital Q/Q Growth
-2.62% 0.08% 1.41% -1.10% -1.97% 7.26% 2.21% 3.60% -3.41% 2.24% 2.83%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
44.96% 48.41% 52.87% 50.92% 52.19% 54.70% 51.64% 39.08% 40.54% 40.81% 42.48%
EBITDA Margin
5.90% 32.38% 39.18% 24.79% 35.55% 30.38% 30.90% 26.49% 14.61% 28.11% 34.44%
Operating Margin
-6.80% 22.05% 22.53% 18.22% 16.52% 24.56% 20.05% 14.90% 14.41% 19.85% 15.39%
EBIT Margin
-4.16% 22.89% 28.04% 13.50% 24.99% 19.57% 19.78% 17.43% 6.47% 20.50% 24.59%
Profit (Net Income) Margin
-11.07% 15.45% 19.18% 6.33% 13.77% 14.18% 17.65% 9.72% 2.29% 13.46% 15.60%
Tax Burden Percent
164.95% 78.54% 79.40% 82.96% 70.58% 80.22% 73.03% 82.26% 68.39% 78.13% 77.70%
Interest Burden Percent
161.31% 85.96% 86.15% 56.51% 78.08% 90.32% 122.21% 67.81% 51.67% 84.05% 81.66%
Effective Tax Rate
0.00% 21.46% 20.60% 17.04% 29.42% 19.78% 26.97% 17.74% 31.61% 21.87% 22.30%
Return on Invested Capital (ROIC)
-1.94% 6.38% 6.16% 5.14% 4.10% 6.51% 4.81% 4.43% 3.73% 6.30% 5.04%
ROIC Less NNEP Spread (ROIC-NNEP)
-3.07% 6.04% 6.36% 3.76% 4.51% 5.59% 5.31% 3.87% 2.26% 5.81% 5.77%
Return on Net Nonoperating Assets (RNNOA)
-3.07% 5.88% 6.34% 3.51% 4.35% 5.58% 5.29% 3.82% 2.32% 6.24% 6.22%
Return on Equity (ROE)
-5.02% 12.27% 12.49% 8.64% 8.45% 12.09% 10.10% 8.25% 6.06% 12.54% 11.26%
Cash Return on Invested Capital (CROIC)
6.04% 9.43% 7.38% 5.36% 6.99% -0.68% -1.79% -6.20% -4.56% 0.94% 0.32%
Operating Return on Assets (OROA)
-1.24% 6.22% 7.14% 3.34% 6.14% 4.65% 4.64% 4.47% 1.66% 5.84% 7.23%
Return on Assets (ROA)
-3.29% 4.20% 4.89% 1.57% 3.38% 3.37% 4.14% 2.49% 0.59% 3.83% 4.59%
Return on Common Equity (ROCE)
-4.20% 10.38% 10.59% 7.39% 7.12% 10.25% 8.59% 7.05% 5.16% 10.76% 9.67%
Return on Equity Simple (ROE_SIMPLE)
0.00% 4.18% 6.43% 4.99% 0.00% 9.20% 8.78% 10.12% 0.00% 9.45% 0.00%
Net Operating Profit after Tax (NOPAT)
-410 1,546 1,410 1,100 1,047 1,606 1,213 1,350 955 1,995 1,306
NOPAT Margin
-4.76% 17.31% 17.89% 15.12% 11.66% 19.70% 14.64% 12.26% 9.86% 15.51% 11.96%
Net Nonoperating Expense Percent (NNEP)
1.13% 0.34% -0.21% 1.38% -0.41% 0.92% -0.50% 0.56% 1.47% 0.49% -0.73%
Return On Investment Capital (ROIC_SIMPLE)
-0.38% - - - 0.95% - - - 0.81% 1.65% 1.05%
Cost of Revenue to Revenue
55.04% 51.59% 47.13% 49.08% 47.81% 45.30% 48.36% 60.92% 59.46% 59.19% 57.52%
SG&A Expenses to Revenue
17.45% 16.87% 19.44% 20.88% 21.80% 19.33% 20.36% 15.33% 16.48% 13.36% 15.53%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
51.77% 26.36% 30.34% 32.70% 35.67% 30.14% 31.59% 24.18% 26.12% 20.97% 27.10%
Earnings before Interest and Taxes (EBIT)
-359 2,044 2,211 982 2,244 1,595 1,638 1,920 626 2,637 2,686
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
508 2,891 3,089 1,803 3,191 2,476 2,559 2,918 1,415 3,616 3,762
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.73 1.77 1.72 1.45 1.70 0.00 1.71 2.03 2.22 2.26 2.30
Price to Tangible Book Value (P/TBV)
5.52 5.27 5.09 3.81 4.82 0.00 4.80 6.06 7.33 6.83 7.01
Price to Revenue (P/Rev)
1.72 1.98 2.06 1.91 2.13 0.00 2.31 2.43 2.45 2.31 2.22
Price to Earnings (P/E)
35.42 43.45 25.86 28.84 15.90 0.00 18.26 18.78 25.95 23.94 23.08
Dividend Yield
7.92% 7.45% 7.64% 8.52% 7.94% 7.31% 7.47% 6.56% 6.37% 5.99% 5.86%
Earnings Yield
2.82% 2.30% 3.87% 3.47% 6.29% 0.00% 5.48% 5.32% 3.85% 4.18% 4.33%
Enterprise Value to Invested Capital (EV/IC)
1.30 1.32 1.30 1.20 1.31 0.00 1.30 1.41 1.48 1.51 1.51
Enterprise Value to Revenue (EV/Rev)
3.12 3.47 3.68 3.48 3.69 0.00 4.09 4.13 4.11 3.80 3.67
Enterprise Value to EBITDA (EV/EBITDA)
18.66 19.87 15.95 13.74 11.12 0.00 13.32 13.50 16.31 15.13 13.93
Enterprise Value to EBIT (EV/EBIT)
36.21 40.15 27.43 23.35 16.32 0.00 20.68 20.34 26.44 23.30 20.73
Enterprise Value to NOPAT (EV/NOPAT)
49.61 51.20 41.11 38.53 24.22 0.00 27.51 29.24 29.56 28.56 28.63
Enterprise Value to Operating Cash Flow (EV/OCF)
14.80 14.27 13.03 10.91 11.35 0.00 13.92 15.52 17.46 18.60 18.10
Enterprise Value to Free Cash Flow (EV/FCFF)
21.06 13.55 17.18 22.09 18.57 0.00 0.00 0.00 0.00 164.25 477.70
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.28 1.24 1.24 1.13 1.26 1.30 1.31 1.39 1.48 1.45 1.48
Long-Term Debt to Equity
1.15 1.10 1.13 1.00 1.16 1.21 1.21 1.27 1.36 1.36 1.42
Financial Leverage
1.00 0.97 1.00 0.93 0.97 1.00 1.00 0.99 1.03 1.07 1.08
Leverage Ratio
2.75 2.68 2.70 2.65 2.81 2.78 2.79 2.80 2.99 2.96 2.98
Compound Leverage Factor
4.43 2.30 2.32 1.50 2.20 2.51 3.41 1.90 1.54 2.49 2.43
Debt to Total Capital
56.09% 55.35% 55.37% 53.10% 55.74% 56.55% 56.73% 58.08% 59.61% 59.13% 59.65%
Short-Term Debt to Total Capital
5.57% 6.09% 4.83% 5.97% 4.45% 4.00% 4.26% 4.86% 4.84% 3.41% 2.40%
Long-Term Debt to Total Capital
50.52% 49.26% 50.54% 47.12% 51.29% 52.55% 52.47% 53.22% 54.77% 55.71% 57.25%
Preferred Equity to Total Capital
4.72% 4.68% 4.75% 4.67% 4.68% 4.40% 4.20% 4.16% 4.00% 3.91% 4.02%
Noncontrolling Interests to Total Capital
2.43% 2.39% 2.38% 2.32% 2.08% 1.96% 1.86% 1.82% 1.75% 1.73% 1.72%
Common Equity to Total Capital
36.76% 37.57% 37.49% 39.92% 37.50% 37.09% 37.21% 35.94% 34.64% 35.23% 34.61%
Debt to EBITDA
9.09 9.43 7.68 6.91 5.60 6.13 6.71 6.33 7.54 6.82 6.34
Net Debt to EBITDA
7.20 7.32 6.04 5.31 4.03 4.76 5.06 4.92 5.86 5.29 4.88
Long-Term Debt to EBITDA
8.19 8.39 7.01 6.13 5.16 5.69 6.21 5.80 6.92 6.43 6.08
Debt to NOPAT
24.18 24.29 19.80 19.38 12.21 12.72 13.86 13.71 13.66 12.88 13.02
Net Debt to NOPAT
19.15 18.86 15.56 14.90 8.78 9.88 10.44 10.65 10.62 9.98 10.03
Long-Term Debt to NOPAT
21.78 21.62 18.07 17.20 11.23 11.82 12.82 12.56 12.55 12.14 12.50
Altman Z-Score
0.59 0.69 0.67 0.58 0.62 0.00 0.60 0.65 0.60 0.75 0.77
Noncontrolling Interest Sharing Ratio
16.26% 15.33% 15.23% 14.44% 15.77% 15.24% 14.97% 14.58% 14.76% 14.23% 14.12%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.60 0.59 0.64 0.67 0.83 0.68 0.77 0.62 0.55 0.73 0.75
Quick Ratio
0.32 0.35 0.35 0.40 0.60 0.42 0.52 0.40 0.37 0.53 0.45
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
2,945 8,362 5,636 3,301 2,580 -4,140 -5,423 -10,053 -8,693 -2,604 -4,050
Operating Cash Flow to CapEx
249.95% 342.43% 356.39% 255.17% 280.37% 265.91% 208.21% 183.20% 135.30% 177.19% 170.73%
Free Cash Flow to Firm to Interest Expense
5.14 12.50 8.45 4.85 2.96 -6.19 -6.86 -10.34 -13.64 -2.81 -4.67
Operating Cash Flow to Interest Expense
4.82 4.27 3.99 3.17 3.54 3.48 2.57 2.32 3.35 2.29 2.88
Operating Cash Flow Less CapEx to Interest Expense
2.89 3.02 2.87 1.93 2.28 2.17 1.34 1.05 0.87 1.00 1.19
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.30 0.27 0.25 0.25 0.25 0.24 0.23 0.26 0.26 0.28 0.29
Accounts Receivable Turnover
8.13 6.90 7.52 7.73 8.66 8.86 10.08 10.02 8.98 9.23 11.70
Inventory Turnover
16.20 21.52 16.90 11.62 11.62 15.34 16.29 15.94 18.73 25.69 25.93
Fixed Asset Turnover
0.51 0.46 0.43 0.42 0.42 0.40 0.39 0.43 0.44 0.48 0.49
Accounts Payable Turnover
3.90 4.19 3.81 3.39 4.09 5.18 5.06 4.83 4.92 6.47 6.93
Days Sales Outstanding (DSO)
44.88 52.90 48.51 47.20 42.17 41.18 36.22 36.42 40.66 39.52 31.20
Days Inventory Outstanding (DIO)
22.53 16.96 21.59 31.41 31.42 23.79 22.41 22.90 19.49 14.21 14.08
Days Payable Outstanding (DPO)
93.61 87.17 95.68 107.79 89.33 70.52 72.16 75.59 74.21 56.45 52.66
Cash Conversion Cycle (CCC)
-26.20 -17.31 -25.58 -29.18 -15.74 -5.54 -13.54 -16.26 -14.07 -2.72 -7.39
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
94,811 94,884 96,217 95,156 93,278 100,630 102,853 106,560 102,925 105,229 108,209
Invested Capital Turnover
0.41 0.37 0.34 0.34 0.35 0.33 0.33 0.36 0.38 0.41 0.42
Increase / (Decrease) in Invested Capital
-3,355 -6,816 -4,225 -2,201 -1,533 5,746 6,636 11,404 9,647 4,599 5,356
Enterprise Value (EV)
122,803 125,622 124,692 113,891 122,046 0.00 133,583 150,483 152,794 158,979 163,112
Market Capitalization
67,773 71,722 69,757 62,324 70,336 0.00 75,668 88,425 91,060 96,554 98,810
Book Value per Share
$19.37 $19.98 $20.08 $21.29 $19.47 $19.95 $20.76 $20.04 $18.84 $19.60 $19.74
Tangible Book Value per Share
$6.06 $6.72 $6.77 $8.09 $6.86 $6.47 $7.42 $6.70 $5.71 $6.48 $6.46
Total Capital
106,694 107,681 108,451 107,860 110,348 114,391 118,639 121,441 118,448 121,283 124,384
Total Debt
59,843 59,603 60,054 57,270 61,505 64,684 67,299 70,536 70,606 71,711 74,195
Total Long-Term Debt
53,901 53,043 54,814 50,826 56,594 60,108 62,249 64,629 64,871 67,570 71,205
Net Debt
47,397 46,282 47,198 44,032 44,252 50,233 50,723 54,799 54,921 55,582 57,159
Capital Expenditures (CapEx)
1,104 835 747 845 1,099 875 976 1,232 1,578 1,198 1,462
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-754 711 595 355 -1,922 78 -452 -875 -2,976 -901 -697
Debt-free Net Working Capital (DFNWC)
-84 1,488 1,419 2,311 2,612 1,100 2,251 611 -1,660 638 247
Net Working Capital (NWC)
-6,026 -5,072 -3,822 -4,133 -2,300 -3,476 -2,800 -5,296 -7,395 -3,502 -2,742
Net Nonoperating Expense (NNE)
544 166 -102 639 -190 450 -249 279 733 264 -398
Net Nonoperating Obligations (NNO)
47,960 46,806 47,820 44,566 44,434 50,923 51,513 55,655 55,083 55,657 58,019
Total Depreciation and Amortization (D&A)
867 847 878 821 947 881 921 998 788 979 1,076
Debt-free, Cash-free Net Working Capital to Revenue
-1.91% 1.96% 1.76% 1.09% -5.81% 0.24% -1.38% -2.40% -8.02% -2.15% -1.57%
Debt-free Net Working Capital to Revenue
-0.21% 4.11% 4.19% 7.07% 7.90% 3.41% 6.89% 1.68% -4.47% 1.53% 0.56%
Net Working Capital to Revenue
-15.30% -14.00% -11.29% -12.64% -6.96% -10.76% -8.57% -14.54% -19.91% -8.37% -6.16%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.85) $0.86 $0.91 $0.26 $0.41 $0.67 $0.63 $0.44 ($0.11) $0.72 $0.73
Adjusted Weighted Average Basic Shares Outstanding
2.02B 2.02B 2.02B 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B
Adjusted Diluted Earnings per Share
($0.85) $0.85 $0.91 $0.26 $0.42 $0.67 $0.63 $0.44 ($0.11) $0.72 $0.73
Adjusted Weighted Average Diluted Shares Outstanding
2.02B 2.02B 2.02B 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
2.02B 2.02B 2.02B 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B
Normalized Net Operating Profit after Tax (NOPAT)
-410 1,546 1,410 1,100 1,047 1,606 1,213 1,350 955 1,995 1,494
Normalized NOPAT Margin
-4.76% 17.31% 17.89% 15.12% 11.66% 19.70% 14.64% 12.26% 9.86% 15.51% 13.68%
Pre Tax Income Margin
-6.71% 19.68% 24.16% 7.63% 19.51% 17.68% 24.17% 11.82% 3.34% 17.23% 20.08%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
-0.63 3.05 3.31 1.44 2.58 2.39 2.07 1.97 0.98 2.84 3.10
NOPAT to Interest Expense
-0.72 2.31 2.11 1.62 1.20 2.40 1.53 1.39 1.50 2.15 1.51
EBIT Less CapEx to Interest Expense
-2.55 1.81 2.19 0.20 1.32 1.08 0.84 0.71 -1.49 1.55 1.41
NOPAT Less CapEx to Interest Expense
-2.65 1.06 0.99 0.37 -0.06 1.09 0.30 0.12 -0.98 0.86 -0.18
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
257.49% 290.80% 191.72% 243.95% 131.91% 141.04% 142.80% 130.35% 152.64% 133.18% 130.66%
Augmented Payout Ratio
262.63% 290.80% 194.73% 247.87% 133.97% 141.04% 142.80% 130.39% 152.64% 133.18% 130.66%

Key Financial Trends

Enbridge Inc. (NYSE: ENB) has demonstrated several notable financial trends over the last four years, with data through Q2 2025 showing a stable operational performance accompanied by active capital investments and financing activities.

  • Consistent Net Income Growth: Enbridge's quarterly consolidated net income has shown strength, with Q2 2025 reporting approximately $1.8 billion, continuing an upward trend from prior quarters and years.
  • Strong Operating Cash Flow: For Q2 2025, net cash from continuing operating activities reached nearly $2.5 billion, indicating robust cash generation from core business operations.
  • Significant Investment in Property, Plant & Equipment: The company invested about $1.46 billion in fixed assets in Q2 2025, reflecting ongoing commitment to infrastructure and future growth.
  • Stable Dividend Payouts: Enbridge maintained a healthy dividend payout, paying $0.94 per common share in Q2 2025, supporting investor returns and signaling confidence in cash flows.
  • Substantial Asset Base Growth: Total assets increased steadily, reaching approximately $155.4 billion in Q2 2025, primarily driven by increases in property, plant and equipment and long-term investments.
  • Controlled Debt Management: While total liabilities remain high, Enbridge repaid nearly $1.83 billion of debt in Q2 2025 and balanced debt issuance, showing active liability management to optimize capital structure.
  • Fluctuation in Non-Cash Adjustments: Non-cash adjustments to reconcile net income have fluctuated significantly, occasionally impacting cash flow comparability.
  • Working Capital Changes: Changes in operating assets and liabilities have been mixed but have not significantly impaired operating cash flows.
  • Negative Net Change in Cash & Equivalents: Q2 2025 showed a net decrease in cash and equivalents by about $648 million, primarily due to heavy investing and financing cash outflows.
  • High Long-Term Debt Levels: Total long-term debt increased to over $71 billion as of Q2 2025, with rising interest expense potentially pressuring future profitability.

Summary: Enbridge has displayed solid earnings and cash flow growth with continued capital investments, supporting its infrastructure-heavy business model. The company manages its debt actively but maintains elevated leverage levels. Dividend payments remain attractive, aligning with steady profitability. Investors should monitor debt levels and cash flow usage amid capital expenditures and financing activities. Overall, Enbridge appears financially stable with growth-focused investments sustaining its long-term strategic goals.

08/09/25 05:16 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Enbridge's Financials

When does Enbridge's fiscal year end?

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

How has Enbridge's net income changed over the last 10 years?

Enbridge's net income appears to be on an upward trend, with a most recent value of $3.91 billion in 2024, rising from $1.38 billion in 2014. The previous period was $4.59 billion in 2023. See Enbridge's forecast for analyst expectations on what’s next for the company.

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's revenue changed over the last 10 years?

Over the last 10 years, Enbridge's total revenue changed from $32.41 billion in 2014 to $37.13 billion in 2024, a change of 14.6%.

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 133.6% increase since 2014.

How much cash does Enbridge have?

In the past 10 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 10 years?

Over the last 10 years, Enbridge's book value per share changed from 10.64 in 2014 to 18.84 in 2024, a change of 77.0%.



This page (NYSE:ENB) was last updated on 8/9/2025 by MarketBeat.com Staff
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