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Enbridge (ENB) Financials

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$54.81 -0.75 (-1.34%)
As of 01:11 PM Eastern
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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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -27 1,322 2,010 1,843 4,102 2,338 4,552 1,913 4,423 3,509 5,158
Consolidated Net Income / (Loss)		 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910 5,680
Net Income / (Loss) Continuing Operations		 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910 5,680
Total Pre-Tax Income 		7.95 1,824 452 2,616 5,807 3,285 6,049 3,356 5,968 5,069 7,142
Total Operating Income		 1,346 1,921 1,248 3,529 6,366 6,238 6,109 3,826 6,553 6,701 7,992
Total Gross Profit		 6,184 7,855 12,509 12,440 14,693 14,438 14,377 15,312 16,879 16,967 19,806
Total Revenue		 24,435 25,718 35,266 33,985 38,587 30,641 36,840 39,395 33,062 37,134 47,545
Operating Revenue		 24,435 25,718 35,266 33,985 38,587 30,641 36,840 39,395 33,062 37,134 47,545
Total Cost of Revenue		 18,250 17,864 22,757 21,544 23,894 16,203 22,464 24,083 16,184 20,167 27,739
Operating Cost of Revenue		 18,250 17,864 22,757 21,544 23,894 16,203 22,464 24,083 16,184 20,167 27,739
Total Operating Expenses		 4,838 5,934 11,261 8,911 8,327 8,200 8,268 11,485 10,326 10,267 11,814
Selling, General & Admin Expense		 2,987 3,243 5,119 4,977 5,388 5,291 5,253 6,074 6,514 6,547 7,270
Depreciation Expense		 1,463 1,667 2,514 2,379 2,613 2,910 3,015 3,190 3,494 3,588 4,129
Impairment Charge		 388 1,024 3,628 1,556 326 0.00 0.00 2,221 317 132 416
Total Other Income / (Expense), net		 -1,338 -97 -796 -913 -559 -2,953 -59 -470 -585 -1,632 -850
Interest Expense		 1,174 1,183 2,031 1,981 2,052 2,187 2,078 2,349 2,887 3,069 3,663
Interest & Investment Income		 343 319 876 1,106 1,158 -952 1,252 2,315 1,376 2,358 1,622
Other Income / (Expense), net		 -508 768 359 -38 335 187 766 -435 927 -921 1,192
Income Tax Expense		 123 106 -2,143 174 1,316 607 1,107 1,185 1,379 1,158 1,461
Preferred Stock Dividends Declared		 208 218 262 269 295 298 292 306 267 269 306
Net Income / (Loss) Attributable to Noncontrolling Interest		 -296 179 323 330 94 42 98 -48 -101 132 217
Basic Earnings per Share		 ($0.04) $1.95 $1.66 $1.46 $2.64 $1.48 $2.87 $0.95 $2.15 $1.63 $2.36
Weighted Average Basic Shares Outstanding		 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B 2.18B
Diluted Earnings per Share		 ($0.04) $1.93 $1.65 $1.46 $2.63 $1.48 $2.87 $0.95 $2.15 $1.63 $2.35
Weighted Average Diluted Shares Outstanding		 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B 2.18B
Weighted Average Basic & Diluted Shares Outstanding		 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B 2.18B
Cash Dividends to Common per Share		 $1.86 $2.12 $2.41 $2.68 $2.95 $3.24 $3.34 $3.44 $3.55 $3.66 $3.77

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 393 1,352 1,048 1,350 957 154 1,572 1,598 490 1,497 1,198
Consolidated Net Income / (Loss)		 460 1,237 1,156 1,462 1,071 221 1,732 1,704 608 1,636 1,274
Net Income / (Loss) Continuing Operations		 460 1,237 1,156 1,462 1,071 221 1,732 1,704 608 1,636 1,274
Total Pre-Tax Income 		555 1,752 1,441 2,002 1,302 324 2,216 2,193 835 1,897 1,695
Total Operating Income		 1,325 1,483 2,002 1,661 1,642 1,396 2,554 1,681 1,631 2,127 2,311
Total Gross Profit		 3,704 4,685 4,459 4,278 4,305 3,925 5,251 4,640 4,417 5,497 5,179
Total Revenue		 7,273 8,978 8,152 8,284 11,015 9,683 12,867 10,922 10,511 13,244 16,023
Operating Revenue		 7,273 8,978 8,152 8,284 11,015 9,683 12,867 10,922 10,511 13,244 16,023
Total Cost of Revenue		 3,569 4,292 3,693 4,006 6,710 5,758 7,616 6,282 6,094 7,747 10,844
Operating Cost of Revenue		 3,569 4,292 3,693 4,006 6,710 5,758 7,616 6,282 6,094 7,747 10,844
Total Operating Expenses		 2,378 3,202 2,457 2,617 2,663 2,530 2,698 2,960 2,787 3,370 2,867
Selling, General & Admin Expense		 1,518 1,957 1,576 1,687 1,688 1,596 1,718 1,696 1,783 2,073 1,840
Depreciation Expense		 860 928 881 930 975 802 979 1,021 1,004 1,124 1,027
Total Other Income / (Expense), net		 -771 269 -561 341 -340 -1,072 -337 512 -796 -229 -616
Interest Expense		 680 871 668 791 973 637 928 867 906 962 876
Interest & Investment Income		 253 379 514 1,155 355 334 507 374 324 417 388
Other Income / (Expense), net		 -344 761 -407 -23 278 -770 83 1,005 -213 316 -128
Income Tax Expense		 95 515 285 540 231 102 485 489 227 261 421
Preferred Stock Dividends Declared		 66 73 69 69 73 59 72 75 76 83 77
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.48 -188 39 42 41 8.97 88 31 42 56 0.00
Basic Earnings per Share		 $0.19 $0.41 $0.49 $0.63 $0.44 ($0.11) $0.72 $0.73 $0.22 $0.68 $0.55
Weighted Average Basic Shares Outstanding		 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B
Diluted Earnings per Share		 $0.19 $0.42 $0.49 $0.63 $0.44 ($0.11) $0.72 $0.73 $0.22 $0.68 $0.54
Weighted Average Diluted Shares Outstanding		 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B
Weighted Average Basic & Diluted Shares Outstanding		 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B
Cash Dividends to Common per Share		 $0.89 - $0.92 $0.92 - - $0.94 $0.94 - - $0.97

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Change in Cash & Equivalents		 -105 650 -775 37 30 -146 -133 434 3,846 -2,767 -496
Net Cash From Operating Activities		 3,305 3,873 5,291 7,696 7,243 7,667 7,244 8,299 10,757 8,750 8,948
Net Cash From Continuing Operating Activities		 3,305 3,873 5,291 7,696 7,243 7,667 7,244 8,299 10,757 8,750 8,948
Net Income / (Loss) Continuing Operations		 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910 5,680
Consolidated Net Income / (Loss)		 -115 1,718 2,595 2,442 4,491 2,678 4,942 2,171 4,589 3,910 5,680
Depreciation Expense		 1,463 1,667 2,514 2,379 2,613 2,910 3,015 3,190 3,494 3,588 4,129
Non-Cash Adjustments To Reconcile Net Income		 2,454 762 451 2,204 338 2,007 435 2,946 923 1,344 164
Changes in Operating Assets and Liabilities, net		 -497 -274 -269 670 -200 73 -1,147 -8.87 1,750 -92 -1,025
Net Cash From Investing Activities		 -5,736 -3,834 -8,771 -2,211 -3,590 -4,058 -8,341 -3,894 -4,577 -14,141 -7,660
Net Cash From Continuing Investing Activities		 -5,736 -3,834 -8,771 -2,211 -3,590 -4,058 -8,341 -3,894 -4,577 -14,141 -7,660
Purchase of Property, Plant & Equipment		 -5,259 -3,816 -6,586 -4,987 -4,233 -4,237 -6,119 -3,434 -3,525 -4,660 -6,544
Acquisitions		 -150 -574 -627 -396 -154 -187 -3,178 -740 -891 -9,508 -140
Purchase of Investments		 -407 -383 -2,867 -1,017 -893 -382 -501 -670 -967 -2,372 -1,693
Divestitures		 0.00 0.00 542 - - 208 988 386 0.00 1,892 255
Sale and/or Maturity of Investments		 0.00 0.00 99 936 79 540 468 564 851 547 497
Other Investing Activities, net		 -26 -88 168 -8.79 -15 - 0.00 0.00 -46 -39 -34
Net Cash From Financing Activities		 2,223 625 2,762 -5,498 -3,657 -3,739 967 -4,011 -2,169 2,461 -1,750
Net Cash From Continuing Financing Activities		 2,223 625 2,762 -5,498 -3,657 -3,739 967 -4,011 -2,169 2,461 -1,742
Repayment of Debt		 -740 -1,448 -3,443 -3,582 -3,750 -3,394 4,755 2,598 6,724 2,085 3,299
Repurchase of Common Equity		 - - - - - 0.00 -325 -112 -95 0.00 0.00
Payment of Dividends		 -1,469 -1,760 -3,555 -3,730 -5,094 -5,675 -5,795 -5,590 -6,053 -5,969 -6,563
Issuance of Debt		 3,461 1,142 6,543 939 5,395 1,209 2,317 -985 -6,125 4,617 975
Issuance of Common Equity		 486 1,703 1,892 33 23 22 16 12 3,379 1,728 28
Other Financing Activities, net		 484 440 936 996 - 4,100 0.00 807 0.00 0.00 519
Effect of Exchange Rate Changes		 103 -14 -57 50 34 -16 -3.91 41 -164 163 -34
Cash Interest Paid		 1,327 1,354 2,120 1,838 2,110 1,990 1,900 2,158 2,560 2,871 3,591

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 1,147 2,561 -3,397 1,727 -1,203 107 224 -648 195 -266 466
Net Cash From Operating Activities		 2,155 3,081 2,327 2,032 2,256 2,135 2,123 2,496 1,957 2,372 1,678
Net Cash From Continuing Operating Activities		 2,155 3,081 2,327 2,032 2,256 2,135 2,123 2,496 1,957 2,372 1,678
Net Income / (Loss) Continuing Operations		 395 1,271 1,156 1,450 1,104 200 1,732 1,801 530 1,618 1,274
Consolidated Net Income / (Loss)		 395 1,271 1,156 1,450 1,104 200 1,732 1,801 530 1,618 1,274
Depreciation Expense		 821 947 881 921 998 788 979 1,076 959 1,115 1,027
Non-Cash Adjustments To Reconcile Net Income		 787 191 512 -190 44 978 38 -389 420 95 754
Changes in Operating Assets and Liabilities, net		 151 671 -222 -149 110 168 -625 7.74 49 -456 -1,377
Net Cash From Investing Activities		 -825 -1,989 -5,755 -2,452 -3,573 -2,362 -1,244 -2,168 -1,748 -2,499 -2,025
Net Cash From Continuing Investing Activities		 -825 -1,989 -5,755 -2,452 -3,573 -2,362 -1,244 -2,168 -1,748 -2,499 -2,025
Purchase of Property, Plant & Equipment		 -845 -1,099 -875 -976 -1,232 -1,578 -1,198 -1,462 -1,608 -2,276 -1,748
Acquisitions		 -35 -409 -4,756 -2,952 -2,079 278 -42 -49 -63 14 -54
Purchase of Investments		 -3.10 -607 -304 -642 -424 -1,001 -211 -802 -327 -353 -360
Divestitures		 - - 0.00 - 25 -124 90 5.04 155 3.93 0.00
Sale and/or Maturity of Investments		 81 149 196 142 141 66 128 154 99 115 153
Other Investing Activities, net		 -23 -23 -17 -14 -4.84 -2.62 -11 -15 -3.74 -4.11 -14
Net Cash From Financing Activities		 -197 1,633 -89 2,125 142 283 -661 -930 -55 -105 796
Net Cash From Continuing Financing Activities		 -197 1,633 -89 2,125 142 283 -661 -930 -55 -97 804
Repayment of Debt		 3,016 2,117 -2,842 3,987 1,442 -503 229 1,829 27 1,213 3,643
Payment of Dividends		 -1,388 -1,671 -1,563 -1,539 -1,647 -1,219 -1,569 -1,742 -1,536 -1,715 -1,652
Issuance of Debt		 -5,116 1,105 4,315 -2,138 322 2,119 673 -1,019 940 381 -1,191
Issuance of Common Equity		 3,289 84 1.48 1,816 25 -114 6.95 2.59 1.94 16 4.30
Other Financing Activities, net		 - - - - - - 0.00 - - 8.02 0.00
Effect of Exchange Rate Changes		 14 -164 119 21 -29 51 5.56 -46 - - 16

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 61,108 63,409 128,812 122,304 125,741 125,642 132,162 132,728 136,583 152,065 159,331
Total Current Assets		 5,493 5,795 7,323 6,281 6,715 5,762 7,012 8,977 10,907 9,141 9,623
Cash & Equivalents		 734 1,112 381 380 499 354 224 636 4,470 1,252 798
Restricted Cash		 25 51 85 87 22 30 27 34 64 64 61
Accounts Receivable		 3,931 3,715 5,642 4,833 5,193 4,174 5,454 4,234 3,405 4,868 5,227
Inventories, net		 803 918 1,214 981 1,001 1,204 1,307 1,666 1,120 1,033 1,182
Other Current Assets		 - - - - - - - 2,405 1,848 1,924 2,356
Plant, Property, & Equipment, net		 46,589 47,838 72,086 69,277 72,230 74,135 78,318 77,195 79,261 91,044 95,973
Total Noncurrent Assets		 9,026 9,844 49,403 46,746 46,796 45,745 46,833 46,557 45,872 51,879 53,735
Long-Term Investments		 5,103 5,221 13,439 12,479 13,072 10,832 10,921 11,777 12,720 15,062 16,451
Goodwill		 58 58 27,382 25,251 25,550 25,624 25,652 23,973 24,124 25,417 25,732
Intangible Assets		 975 1,171 2,596 1,738 1,675 1,631 3,137 2,969 2,679 3,185 2,911
Noncurrent Deferred & Refundable Income Taxes		 607 871 866 1,007 771 604 382 349 258 553 511
Other Noncurrent Operating Assets		 2,285 2,523 5,119 6,271 5,728 7,054 6,741 7,490 6,091 7,663 8,131
Total Liabilities & Shareholders' Equity		 61,108 63,409 128,812 122,304 125,741 125,642 132,162 132,728 136,583 152,065 159,331
Total Liabilities		 44,956 44,541 73,344 68,493 72,251 75,187 82,567 85,878 87,740 104,222 111,254
Total Current Liabilities		 7,819 9,185 11,621 10,885 12,252 10,958 14,267 15,002 13,206 16,536 15,318
Short-Term Debt		 1,872 3,312 3,429 3,138 4,086 3,197 6,010 5,942 4,911 5,735 4,420
Accounts Payable		 5,315 5,429 7,532 7,227 7,669 7,234 7,715 4,639 3,283 4,918 5,537
Other Current Liabilities		 296 91 125 29 16 17 - 3,858 4,286 5,028 4,503
Other Current Nonoperating Liabilities		 234 248 504 490 481 510 542 564 726 855 858
Total Noncurrent Liabilities		 37,137 35,356 61,723 57,607 59,999 64,229 68,300 70,876 74,533 87,686 95,936
Long-Term Debt		 28,481 27,158 48,368 44,206 45,979 49,244 53,190 53,901 56,594 64,871 72,173
Noncurrent Deferred & Payable Income Tax Liabilities		 4,277 4,492 7,387 6,928 7,604 8,099 9,148 10,184 11,385 13,608 14,791
Other Noncurrent Operating Liabilities		 4,379 3,707 5,968 6,473 6,415 6,885 5,961 6,791 6,554 9,207 8,972
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 1,548 2,524 3,232 - - - - - - 0.00 537
Total Equity & Noncontrolling Interests		 14,604 16,344 52,236 53,812 53,490 50,455 49,595 46,850 48,843 47,842 47,541
Total Preferred & Common Equity		 13,664 15,915 46,199 50,906 50,898 48,106 47,606 44,256 46,549 45,764 45,459
Preferred Stock		 4,711 5,399 6,156 5,677 5,970 6,073 6,063 5,038 5,164 4,735 4,972
Total Common Equity		 8,953 10,516 40,042 45,229 44,927 42,033 41,543 39,217 41,385 41,029 40,486
Common Stock		 7,731 10,337 42,858 47,394 50,042 50,989 51,001 48,060 52,604 50,009 52,595
Retained Earnings		 103 -533 -1,961 -4,058 -4,866 -7,835 -8,601 -11,444 -12,964 -13,921 -15,522
Accumulated Other Comprehensive Income / (Loss)		 1,180 787 -773 1,958 -210 -1,098 -858 2,601 1,744 4,941 3,414
Noncontrolling Interest		 940 429 6,037 2,905 2,593 2,349 1,990 2,595 2,294 2,078 2,082

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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 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 9/30/2025 3/31/2026
Total Assets		 131,456 131,814 136,583 140,852 147,079 152,300 152,065 153,032 155,354 155,793 163,550
Total Current Assets		 6,778 8,224 10,907 7,394 9,134 8,804 9,141 9,457 8,129 8,674 13,516
Cash & Equivalents		 778 1,927 4,470 897 2,621 1,388 1,252 1,451 883 1,011 1,172
Restricted Cash		 45 29 64 126 83 98 64 88 61 74 133
Accounts Receivable		 2,941 3,074 3,405 3,696 3,546 4,195 4,868 5,367 4,059 4,269 7,559
Inventories, net		 915 1,157 1,120 1,021 995 1,190 1,033 854 1,038 1,367 1,323
Other Current Assets		 2,097 2,037 1,848 1,654 1,890 1,932 1,924 1,697 2,088 1,953 3,329
Plant, Property, & Equipment, net		 78,563 78,005 79,261 83,785 87,904 92,095 91,044 91,511 94,111 94,023 96,329
Total Noncurrent Assets		 46,115 45,585 45,872 49,672 50,041 51,402 51,186 51,324 53,114 53,096 53,705
Long-Term Investments		 12,033 11,283 12,720 13,428 13,873 14,251 14,369 14,589 16,092 16,198 16,687
Goodwill		 24,098 23,931 24,124 25,328 25,077 25,800 25,417 25,453 25,816 25,622 25,632
Intangible Assets		 2,845 2,756 2,679 3,344 3,292 3,259 3,185 3,140 3,140 3,061 2,869
Noncurrent Deferred & Refundable Income Taxes		 198 293 258 348 341 366 553 550 400 505 610
Other Noncurrent Operating Assets		 6,942 7,322 6,091 7,225 7,457 7,727 7,663 7,592 7,666 7,710 7,906
Total Liabilities & Shareholders' Equity		 131,456 131,814 136,583 140,852 147,079 152,300 152,065 153,032 155,354 155,793 163,550
Total Liabilities		 83,059 81,223 87,740 91,145 95,740 101,395 104,222 103,460 105,164 106,384 114,465
Total Current Liabilities		 10,599 12,357 13,206 10,870 11,934 14,100 16,536 12,959 10,872 10,800 16,707
Short-Term Debt		 5,240 6,444 4,911 4,576 5,050 5,907 5,735 4,141 2,990 2,231 4,671
Accounts Payable		 2,802 3,272 3,283 2,836 3,351 4,473 4,918 4,616 4,258 4,694 7,067
Other Current Liabilities		 1,934 2,106 4,286 2,768 2,742 2,864 5,028 3,388 2,764 3,010 4,100
Other Current Nonoperating Liabilities		 623 534 726 690 791 856 855 815 860 865 869
Total Noncurrent Liabilities		 72,460 68,867 74,533 80,275 83,806 87,296 87,686 90,501 94,293 95,584 97,758
Long-Term Debt		 54,814 50,826 56,594 60,108 62,249 64,629 64,871 67,570 71,205 72,235 73,824
Noncurrent Deferred & Payable Income Tax Liabilities		 10,960 11,046 11,385 12,324 13,090 13,597 13,608 13,893 14,446 14,531 15,059
Other Noncurrent Operating Liabilities		 6,686 6,994 6,554 7,843 8,467 9,070 9,207 9,037 8,642 8,818 8,875
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - - - - 528 527
Total Equity & Noncontrolling Interests		 48,396 50,590 48,843 49,707 51,340 50,905 47,842 49,572 50,189 48,881 48,557
Total Preferred & Common Equity		 45,812 48,092 46,549 47,460 49,129 48,692 45,764 47,471 48,053 46,803 46,563
Preferred Stock		 5,153 5,037 5,164 5,035 4,982 5,046 4,735 4,742 5,006 4,896 4,886
Total Common Equity		 40,659 43,054 41,385 42,425 44,146 43,646 41,029 42,729 43,047 41,907 41,677
Common Stock		 49,112 51,316 52,604 51,311 52,594 53,285 50,009 50,099 52,899 51,753 51,681
Retained Earnings		 -10,388 -11,089 -12,964 -11,592 -11,542 -12,209 -13,921 -12,369 -12,968 -13,689 -14,055
Accumulated Other Comprehensive Income / (Loss)		 1,935 2,827 1,744 2,706 3,094 2,570 4,941 4,999 3,116 3,843 4,051
Noncontrolling Interest		 2,585 2,499 2,294 2,247 2,211 2,213 2,078 2,102 2,137 2,078 1,994

Annual Metrics And Ratios for Enbridge

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -24.61% 5.25% 37.13% -3.63% 13.54% -20.59% 20.23% 6.93% -16.07% 12.31% 28.04%
EBITDA Growth		 -40.73% 89.19% -5.38% 42.42% 58.69% 0.21% 5.95% -33.45% 66.74% -14.63% 42.10%
EBIT Growth		 -66.80% 220.56% -40.21% 117.15% 91.95% -4.13% 7.02% -50.67% 120.57% -22.73% 58.88%
NOPAT Growth		 -1,082.59% 109.30% 296.04% -54.02% 49.41% 3.30% -1.87% -50.40% 103.55% 2.60% 22.96%
Net Income Growth		 -108.30% 1,594.62% 51.05% -5.90% 83.87% -40.37% 84.54% -56.06% 111.35% -14.78% 45.26%
EPS Growth		 -102.92% 4,925.00% -14.51% -11.52% 80.14% -43.73% 93.92% -67.04% 127.42% -24.46% 44.51%
Operating Cash Flow Growth		 50.71% 17.20% 36.60% 45.45% -5.88% 5.86% -5.52% 14.56% 29.62% -18.66% 2.27%
Free Cash Flow Firm Growth		 -168.81% 95.64% -7,372.09% 119.48% -62.40% 4.99% -129.53% 691.32% 12.71% -168.14% 123.72%
Invested Capital Growth		 -13.07% 5.85% 116.93% -5.50% 1.96% 1.93% 6.48% -3.42% -1.62% 10.34% 5.14%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -10.15% 8.31% -1.90% -0.51% -1.64% 1.10% 1.94% 8.10%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 115.54% 7.08% 13.44% -4.43% -25.51% 32.36% -15.94% 19.19%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 1,576.20% 5.98% 18.00% -5.86% -40.65% 53.36% -21.87% 24.66%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 1,589.83% 1.64% 16.61% -7.04% -48.08% 70.46% 0.45% 14.28%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 44.81% -2.10% 37.11% -0.68% -52.72% 91.35% -20.61% 33.18%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 58.70% -9.00% 54.17% 0.70% -64.97% 77.79% -42.98% 35.74%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 5.75% 2.68% 4.94% -7.43% 19.23% 3.08% -9.76% 2.72%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -47.46% -34.89% -269.76% 63.88% 27.43% 28.44% -77.23%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -4.97% -1.83% 0.91% 2.10% -2.62% -1.97% -3.41% 0.71%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 25.31% 30.54% 35.47% 36.61% 38.08% 47.12% 39.02% 38.87% 51.05% 45.69% 41.66%
EBITDA Margin		 9.42% 16.94% 11.69% 17.27% 24.14% 30.46% 26.84% 16.71% 33.19% 25.23% 28.00%
Operating Margin		 5.51% 7.47% 3.54% 10.38% 16.50% 20.36% 16.58% 9.71% 19.82% 18.04% 16.81%
EBIT Margin		 3.43% 10.45% 4.56% 10.27% 17.37% 20.97% 18.66% 8.61% 22.62% 15.56% 19.31%
Profit (Net Income) Margin		 -0.47% 6.68% 7.36% 7.19% 11.64% 8.74% 13.41% 5.51% 13.88% 10.53% 11.95%
Tax Burden Percent		 -1,445.45% 94.21% 573.99% 93.36% 77.33% 81.53% 81.69% 64.69% 76.89% 77.15% 79.54%
Interest Burden Percent		 0.95% 67.84% 28.13% 74.94% 86.66% 51.13% 87.99% 98.98% 79.79% 87.70% 77.77%
Effective Tax Rate		 1,545.45% 5.79% -473.99% 6.64% 22.67% 18.47% 18.31% 35.31% 23.11% 22.85% 20.46%
Return on Invested Capital (ROIC)		 -44.28% 4.30% 10.45% 3.61% 5.50% 5.57% 5.24% 2.57% 5.36% 5.27% 6.02%
ROIC Less NNEP Spread (ROIC-NNEP)		 27.87% 3.93% -4.11% 1.28% 4.29% -0.55% 5.14% 1.94% 4.38% 2.74% 4.85%
Return on Net Nonoperating Assets (RNNOA)		 43.61% 5.51% -3.47% 0.86% 2.87% -0.42% 4.64% 1.94% 4.23% 2.82% 5.82%
Return on Equity (ROE)		 -0.67% 9.81% 6.98% 4.47% 8.37% 5.15% 9.88% 4.50% 9.59% 8.09% 11.84%
Cash Return on Invested Capital (CROIC)		 -30.30% -1.38% -63.34% 9.27% 3.55% 3.66% -1.04% 6.04% 6.99% -4.56% 1.01%
Operating Return on Assets (OROA)		 1.35% 4.32% 1.67% 2.78% 5.40% 5.11% 5.33% 2.56% 5.55% 4.00% 5.90%
Return on Assets (ROA)		 -0.19% 2.76% 2.70% 1.95% 3.62% 2.13% 3.83% 1.64% 3.41% 2.71% 3.65%
Return on Common Equity (ROCE)		 -0.35% 5.46% 4.75% 3.49% 7.03% 4.31% 8.25% 3.77% 8.08% 6.89% 10.07%
Return on Equity Simple (ROE_SIMPLE)		 -0.84% 10.80% 5.62% 4.80% 8.82% 5.57% 10.38% 4.91% 9.86% 8.54% 0.00%
Net Operating Profit after Tax (NOPAT)		 -19,460 1,809 7,166 3,295 4,923 5,085 4,990 2,475 5,038 5,169 6,356
NOPAT Margin		 -79.64% 7.04% 20.32% 9.69% 12.76% 16.60% 13.55% 6.28% 15.24% 13.92% 13.37%
Net Nonoperating Expense Percent (NNEP)		 -72.15% 0.37% 14.56% 2.33% 1.20% 6.12% 0.11% 0.63% 0.97% 2.53% 1.17%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 2.32% 4.57% 4.36% 5.12%
Cost of Revenue to Revenue		 74.69% 69.46% 64.53% 63.39% 61.92% 52.88% 60.98% 61.13% 48.95% 54.31% 58.34%
SG&A Expenses to Revenue		 12.22% 12.61% 14.52% 14.64% 13.96% 17.27% 14.26% 15.42% 19.70% 17.63% 15.29%
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		 19.80% 23.07% 31.93% 26.22% 21.58% 26.76% 22.44% 29.15% 31.23% 27.65% 24.85%
Earnings before Interest and Taxes (EBIT)		 839 2,689 1,608 3,491 6,701 6,424 6,875 3,391 7,480 5,780 9,183
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,302 4,356 4,121 5,870 9,314 9,334 9,890 6,581 10,974 9,368 13,312
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.91 2.19 0.61 0.83 1.34 1.24 1.64 1.73 1.70 2.22 2.58
Price to Tangible Book Value (P/TBV)		 2.16 2.48 2.42 2.06 3.39 3.51 5.33 5.52 4.82 7.33 8.81
Price to Revenue (P/Rev)		 0.70 0.90 0.69 1.11 1.56 1.70 1.85 1.72 2.13 2.45 2.19
Price to Earnings (P/E)		 0.00 17.43 12.12 20.42 14.65 22.21 14.94 35.42 15.90 25.95 20.23
Dividend Yield		 7.30% 6.02% 7.15% 9.50% 7.47% 9.41% 7.99% 7.92% 7.94% 6.37% 5.63%
Earnings Yield		 0.00% 5.74% 8.25% 4.90% 6.83% 4.50% 6.70% 2.82% 6.29% 3.85% 4.94%
Enterprise Value to Invested Capital (EV/IC)		 1.19 1.28 0.83 0.91 1.16 1.10 1.26 1.30 1.31 1.48 1.58
Enterprise Value to Revenue (EV/Rev)		 2.00 2.16 2.20 2.37 2.72 3.32 3.37 3.12 3.69 4.11 3.60
Enterprise Value to EBITDA (EV/EBITDA)		 21.19 12.74 18.85 13.73 11.29 10.88 12.54 18.66 11.12 16.31 12.86
Enterprise Value to EBIT (EV/EBIT)		 58.16 20.63 48.32 23.09 15.69 15.81 18.05 36.21 16.32 26.44 18.64
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 30.66 10.84 24.47 21.35 19.98 24.86 49.61 24.22 29.56 26.94
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.76 14.32 14.68 10.47 14.51 13.25 17.13 14.80 11.35 17.46 19.13
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 9.53 33.05 30.43 0.00 21.06 18.57 0.00 161.19
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.88 1.61 0.93 0.88 0.94 1.04 1.19 1.28 1.26 1.48 1.59
Long-Term Debt to Equity		 1.76 1.44 0.87 0.82 0.86 0.98 1.07 1.15 1.16 1.36 1.50
Financial Leverage		 1.56 1.40 0.84 0.67 0.67 0.76 0.90 1.00 0.97 1.03 1.20
Leverage Ratio		 3.61 3.56 2.59 2.30 2.31 2.42 2.58 2.75 2.81 2.99 3.25
Compound Leverage Factor		 0.03 2.41 0.73 1.72 2.00 1.24 2.27 2.72 2.25 2.62 2.52
Debt to Total Capital		 65.27% 61.76% 48.29% 46.80% 48.35% 50.97% 54.41% 56.09% 55.74% 59.61% 61.44%
Short-Term Debt to Total Capital		 4.03% 6.71% 3.20% 3.10% 3.95% 3.11% 5.52% 5.57% 4.45% 4.84% 3.55%
Long-Term Debt to Total Capital		 61.24% 55.04% 45.09% 43.70% 44.40% 47.86% 48.89% 50.52% 51.29% 54.77% 57.89%
Preferred Equity to Total Capital		 10.13% 10.94% 5.74% 5.61% 5.77% 5.90% 5.57% 4.72% 4.68% 4.00% 3.99%
Noncontrolling Interests to Total Capital		 5.35% 5.99% 8.64% 2.87% 2.50% 2.28% 1.83% 2.43% 2.08% 1.75% 2.10%
Common Equity to Total Capital		 19.25% 21.31% 37.33% 44.71% 43.38% 40.85% 38.18% 36.76% 37.50% 34.64% 32.47%
Debt to EBITDA		 13.18 7.00 12.57 8.07 5.38 5.62 5.99 9.09 5.60 7.54 5.75
Net Debt to EBITDA		 10.64 5.53 9.19 5.86 3.92 4.42 4.86 7.20 4.03 5.86 4.45
Long-Term Debt to EBITDA		 12.37 6.24 11.74 7.53 4.94 5.28 5.38 8.19 5.16 6.92 5.42
Debt to NOPAT		 -1.56 16.84 7.23 14.37 10.17 10.31 11.86 24.18 12.21 13.66 12.05
Net Debt to NOPAT		 -1.26 13.31 5.29 10.44 7.41 8.11 9.62 19.15 8.78 10.62 9.33
Long-Term Debt to NOPAT		 -1.46 15.01 6.75 13.42 9.34 9.68 10.66 21.78 11.23 12.55 11.35
Altman Z-Score		 0.63 0.78 0.45 0.61 0.87 0.69 0.79 0.68 0.75 0.71 0.87
Noncontrolling Interest Sharing Ratio		 48.08% 44.41% 31.99% 21.97% 15.98% 16.34% 16.47% 16.26% 15.77% 14.76% 15.02%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.70 0.63 0.63 0.58 0.55 0.53 0.49 0.60 0.83 0.55 0.63
Quick Ratio		 0.60 0.53 0.52 0.48 0.46 0.41 0.40 0.32 0.60 0.37 0.39
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -13,316 -581 -43,429 8,458 3,180 3,339 -986 5,831 6,572 -4,478 1,062
Operating Cash Flow to CapEx		 64.14% 138.84% 86.93% 446.13% 277.88% 180.96% 118.39% 241.66% 305.14% 187.75% 136.74%
Free Cash Flow to Firm to Interest Expense		 -11.34 -0.49 -21.38 4.27 1.55 1.53 -0.47 2.48 2.28 -1.46 0.29
Operating Cash Flow to Interest Expense		 2.81 3.27 2.60 3.89 3.53 3.51 3.49 3.53 3.73 2.85 2.44
Operating Cash Flow Less CapEx to Interest Expense		 -1.57 0.92 -0.39 3.01 2.26 1.57 0.54 2.07 2.50 1.33 0.66
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.39 0.41 0.37 0.27 0.31 0.24 0.29 0.30 0.25 0.26 0.31
Accounts Receivable Turnover		 5.50 6.73 7.54 6.49 7.70 6.54 7.65 8.13 8.66 8.98 9.42
Inventory Turnover		 20.37 20.76 21.35 19.63 24.11 14.70 17.89 16.20 11.62 18.73 25.04
Fixed Asset Turnover		 0.53 0.54 0.59 0.48 0.55 0.42 0.48 0.51 0.42 0.44 0.51
Accounts Payable Turnover		 3.36 3.33 3.51 2.92 3.21 2.17 3.01 3.90 4.09 4.92 5.31
Days Sales Outstanding (DSO)		 66.31 54.26 48.42 56.25 47.42 55.79 47.69 44.88 42.17 40.66 38.75
Days Inventory Outstanding (DIO)		 17.92 17.58 17.10 18.60 15.14 24.84 20.40 22.53 31.42 19.49 14.58
Days Payable Outstanding (DPO)		 108.63 109.76 103.94 125.02 113.78 167.86 121.44 93.61 89.33 74.21 68.79
Cash Conversion Cycle (CCC)		 -24.41 -37.92 -38.42 -50.17 -51.22 -87.23 -53.35 -26.20 -15.74 -14.07 -15.46
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 40,879 43,269 93,864 88,701 90,443 92,190 98,166 94,811 93,278 102,925 108,219
Invested Capital Turnover		 0.56 0.61 0.51 0.37 0.43 0.34 0.39 0.41 0.35 0.38 0.45
Increase / (Decrease) in Invested Capital		 -6,144 2,391 50,594 -5,163 1,743 1,747 5,976 -3,355 -1,533 9,647 5,294
Enterprise Value (EV)		 48,784 55,480 77,682 80,610 105,115 101,585 124,064 122,803 122,046 152,794 171,205
Market Capitalization		 17,093 23,041 24,365 37,629 60,080 51,938 67,983 67,773 70,336 91,060 104,330
Book Value per Share		 $10.51 $12.12 $42.46 $26.23 $22.20 $20.75 $20.51 $19.37 $19.47 $18.84 $18.56
Tangible Book Value per Share		 $9.30 $10.70 $10.67 $10.58 $8.75 $7.30 $6.30 $6.06 $6.86 $5.71 $5.43
Total Capital		 46,506 49,338 107,265 101,156 103,556 102,896 108,795 106,694 110,348 118,448 124,670
Total Debt		 30,353 30,470 51,797 47,345 50,065 52,441 59,200 59,843 61,505 70,606 76,593
Total Long-Term Debt		 28,481 27,158 48,368 44,206 45,979 49,244 53,190 53,901 56,594 64,871 72,173
Net Debt		 24,492 24,086 37,892 34,399 36,472 41,225 48,028 47,397 44,252 54,921 59,284
Capital Expenditures (CapEx)		 5,153 2,790 6,086 1,725 2,606 4,237 6,119 3,434 3,525 4,660 6,544
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,213 -1,241 -1,336 -1,932 -1,972 -2,384 -1,496 -754 -1,922 -2,976 -2,133
Debt-free Net Working Capital (DFNWC)		 -454 -78 -869 -1,466 -1,451 -2,000 -1,245 -84 2,612 -1,660 -1,275
Net Working Capital (NWC)		 -2,326 -3,390 -4,298 -4,604 -5,537 -5,197 -7,255 -6,026 -2,300 -7,395 -5,695
Net Nonoperating Expense (NNE)		 -19,345 91 4,571 852 432 2,407 49 304 450 1,259 676
Net Nonoperating Obligations (NNO)		 24,727 24,401 38,396 34,889 36,953 41,735 48,571 47,960 44,434 55,083 60,141
Total Depreciation and Amortization (D&A)		 1,463 1,667 2,514 2,379 2,613 2,910 3,015 3,190 3,494 3,588 4,129
Debt-free, Cash-free Net Working Capital to Revenue		 -4.96% -4.82% -3.79% -5.69% -5.11% -7.78% -4.06% -1.91% -5.81% -8.02% -4.49%
Debt-free Net Working Capital to Revenue		 -1.86% -0.30% -2.47% -4.31% -3.76% -6.53% -3.38% -0.21% 7.90% -4.47% -2.68%
Net Working Capital to Revenue		 -9.52% -13.18% -12.19% -13.55% -14.35% -16.96% -19.69% -15.30% -6.96% -19.91% -11.98%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.04) $1.95 $1.66 $1.46 $2.64 $1.48 $2.87 $1.28 $2.84 $1.63 $2.36
Adjusted Weighted Average Basic Shares Outstanding		 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B 2.18B
Adjusted Diluted Earnings per Share		 ($0.04) $1.93 $1.65 $1.46 $2.63 $1.48 $2.87 $1.28 $2.84 $1.63 $2.35
Adjusted Weighted Average Diluted Shares Outstanding		 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 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		 867.61M 943.11M 1.70B 2.02B 2.02B 2.03B 2.03B 2.02B 2.13B 2.18B 2.18B
Normalized Net Operating Profit after Tax (NOPAT)		 1,214 2,774 3,413 4,747 5,175 5,085 4,990 3,912 5,282 5,271 6,687
Normalized NOPAT Margin		 4.97% 10.79% 9.68% 13.97% 13.41% 16.60% 13.55% 9.93% 15.98% 14.20% 14.06%
Pre Tax Income Margin		 0.03% 7.09% 1.28% 7.70% 15.05% 10.72% 16.42% 8.52% 18.05% 13.65% 15.02%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.71 2.27 0.79 1.76 3.27 2.94 3.31 1.44 2.59 1.88 2.51
NOPAT to Interest Expense		 -16.57 1.53 3.53 1.66 2.40 2.33 2.40 1.05 1.74 1.68 1.74
EBIT Less CapEx to Interest Expense		 -3.67 -0.09 -2.21 0.89 2.00 1.00 0.36 -0.02 1.37 0.36 0.72
NOPAT Less CapEx to Interest Expense		 -20.96 -0.83 0.53 0.79 1.13 0.39 -0.54 -0.41 0.52 0.17 -0.05
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -1,277.99% 102.43% 136.96% 152.72% 113.44% 211.94% 117.26% 257.49% 131.91% 152.64% 115.53%
Augmented Payout Ratio		 -1,277.99% 102.43% 136.96% 152.72% 113.44% 211.94% 123.84% 262.63% 133.97% 152.64% 115.53%

Quarterly Metrics And Ratios for Enbridge

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 2,181,830,165.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 2,181,830,165.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.55
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -13.58% 4.18% -8.69% 5.08% 51.45% 7.86% 57.84% 31.84% -4.57% 36.78% 24.52%
EBITDA Growth		 35.81% 527.78% -14.34% -17.13% 61.80% -55.68% 46.04% 46.97% -18.57% 151.52% -11.24%
EBIT Growth		 50.87% 725.78% -21.94% -25.88% 95.53% -72.09% 65.31% 63.92% -26.17% 290.07% -17.22%
NOPAT Growth		 4.60% 355.12% 3.90% -13.98% 22.82% -8.81% 24.23% 7.65% -12.06% 92.14% -12.91%
Net Income Growth		 -54.23% 229.60% -16.22% -3.30% 132.68% -82.10% 49.82% 16.54% -43.21% 639.43% -26.41%
EPS Growth		 -69.51% 149.41% -21.18% -8.61% 127.33% -126.19% 44.77% 16.82% -50.68% 1,033.33% -23.96%
Operating Cash Flow Growth		 67.49% 11.63% -18.58% -23.68% 4.70% -30.72% -8.76% 22.82% -13.24% 11.12% -20.95%
Free Cash Flow Firm Growth		 2,181.72% -12.40% -149.51% -196.23% -404.57% -436.93% 37.11% 25.33% 102.89% 60.20% -34.02%
Invested Capital Growth		 -2.26% -1.62% 6.06% 6.90% 11.98% 10.34% 4.57% 5.21% 0.84% 5.14% 4.97%
Revenue Q/Q Growth		 -7.75% 23.44% -9.19% 1.62% 32.96% -12.09% 32.89% -15.12% -3.76% 26.00% 20.98%
EBITDA Q/Q Growth		 -41.62% 76.97% -22.40% 3.35% 14.00% -51.52% 155.66% 4.02% -36.84% 49.75% -9.77%
EBIT Q/Q Growth		 -55.58% 128.52% -28.90% 2.70% 17.18% -67.38% 321.10% 1.84% -47.23% 72.35% -10.64%
NOPAT Q/Q Growth		 -22.03% -4.80% 53.43% -24.47% 11.33% -29.31% 109.01% -34.55% -9.06% 54.45% -5.26%
Net Income Q/Q Growth		 -69.56% 168.64% -6.52% 26.51% -26.76% -79.34% 682.47% -1.59% -64.31% 169.08% -22.13%
EPS Q/Q Growth		 -72.07% 118.64% -18.29% -6.19% -30.52% -125.19% 751.18% 2.50% -70.66% 215.69% -19.90%
Operating Cash Flow Q/Q Growth		 -19.06% 42.98% -24.47% -12.69% 11.04% -5.39% -0.53% 17.54% -21.57% 21.17% -29.24%
Free Cash Flow Firm Q/Q Growth		 -41.43% -21.83% -303.26% -30.98% -85.37% 13.53% 70.05% -55.52% 107.18% -1,290.27% -0.86%
Invested Capital Q/Q Growth		 -1.10% -1.97% 7.26% 2.21% 3.60% -3.41% 2.24% 2.83% -0.69% 0.71% 2.07%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 50.92% 52.19% 54.70% 51.64% 39.08% 40.54% 40.81% 42.48% 42.02% 41.50% 32.32%
EBITDA Margin		 24.79% 35.55% 30.38% 30.90% 26.49% 14.61% 28.11% 34.44% 22.60% 26.86% 20.03%
Operating Margin		 18.22% 16.52% 24.56% 20.05% 14.90% 14.41% 19.85% 15.39% 15.51% 16.06% 14.43%
EBIT Margin		 13.50% 24.99% 19.57% 19.78% 17.43% 6.47% 20.50% 24.59% 13.48% 18.44% 13.62%
Profit (Net Income) Margin		 6.33% 13.77% 14.18% 17.65% 9.72% 2.29% 13.46% 15.60% 5.79% 12.36% 7.95%
Tax Burden Percent		 82.96% 70.58% 80.22% 73.03% 82.26% 68.39% 78.13% 77.70% 72.83% 86.25% 75.18%
Interest Burden Percent		 56.51% 78.08% 90.32% 122.21% 67.81% 51.67% 84.05% 81.66% 58.92% 77.67% 77.64%
Effective Tax Rate		 17.04% 29.42% 19.78% 26.97% 17.74% 31.61% 21.87% 22.30% 27.17% 13.75% 24.82%
Return on Invested Capital (ROIC)		 5.14% 4.10% 6.51% 4.81% 4.43% 3.73% 6.30% 5.04% 4.64% 6.24% 5.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.76% 4.51% 5.59% 5.31% 3.87% 2.26% 5.81% 5.77% 3.62% 5.89% 4.31%
Return on Net Nonoperating Assets (RNNOA)		 3.51% 4.35% 5.58% 5.29% 3.82% 2.32% 6.24% 6.22% 4.11% 7.08% 5.11%
Return on Equity (ROE)		 8.64% 8.45% 12.09% 10.10% 8.25% 6.06% 12.54% 11.26% 8.75% 13.32% 10.21%
Cash Return on Invested Capital (CROIC)		 5.36% 6.99% -0.68% -1.79% -6.20% -4.56% 0.94% 0.32% 4.36% 1.01% 0.82%
Operating Return on Assets (OROA)		 3.34% 6.14% 4.65% 4.64% 4.47% 1.66% 5.84% 7.23% 3.85% 5.63% 4.36%
Return on Assets (ROA)		 1.57% 3.38% 3.37% 4.14% 2.49% 0.59% 3.83% 4.59% 1.65% 3.77% 2.55%
Return on Common Equity (ROCE)		 7.39% 7.12% 10.25% 8.59% 7.05% 5.16% 10.76% 9.67% 7.46% 11.32% 8.73%
Return on Equity Simple (ROE_SIMPLE)		 4.99% 0.00% 9.20% 8.78% 10.12% 0.00% 9.45% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,100 1,047 1,606 1,213 1,350 955 1,995 1,306 1,188 1,834 1,738
NOPAT Margin		 15.12% 11.66% 19.70% 14.64% 12.26% 9.86% 15.51% 11.96% 11.30% 13.85% 10.84%
Net Nonoperating Expense Percent (NNEP)		 1.38% -0.41% 0.92% -0.50% 0.56% 1.47% 0.49% -0.73% 1.02% 0.34% 0.79%
Return On Investment Capital (ROIC_SIMPLE)		 - 0.95% - - - 0.81% 1.65% 1.05% 0.96% 1.48% 1.37%
Cost of Revenue to Revenue		 49.08% 47.81% 45.30% 48.36% 60.92% 59.46% 59.19% 57.52% 57.98% 58.50% 67.68%
SG&A Expenses to Revenue		 20.88% 21.80% 19.33% 20.36% 15.33% 16.48% 13.36% 15.53% 16.96% 15.65% 11.49%
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		 32.70% 35.67% 30.14% 31.59% 24.18% 26.12% 20.97% 27.10% 26.51% 25.45% 17.90%
Earnings before Interest and Taxes (EBIT)		 982 2,244 1,595 1,638 1,920 626 2,637 2,686 1,417 2,443 2,183
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,803 3,191 2,476 2,559 2,918 1,415 3,616 3,762 2,376 3,558 3,210
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.45 1.70 0.00 1.71 2.03 2.22 2.26 2.30 2.63 2.58 2.83
Price to Tangible Book Value (P/TBV)		 3.81 4.82 0.00 4.80 6.06 7.33 6.83 7.01 8.32 8.81 8.97
Price to Revenue (P/Rev)		 1.91 2.13 0.00 2.31 2.43 2.45 2.31 2.22 2.50 2.19 2.33
Price to Earnings (P/E)		 28.84 15.90 0.00 18.26 18.78 25.95 23.94 23.08 28.85 20.23 24.70
Dividend Yield		 8.52% 7.94% 7.31% 7.47% 6.56% 6.37% 5.99% 5.86% 5.29% 5.63% 5.06%
Earnings Yield		 3.47% 6.29% 0.00% 5.48% 5.32% 3.85% 4.18% 4.33% 3.47% 4.94% 4.05%
Enterprise Value to Invested Capital (EV/IC)		 1.20 1.31 0.00 1.30 1.41 1.48 1.51 1.51 1.63 1.58 1.68
Enterprise Value to Revenue (EV/Rev)		 3.48 3.69 0.00 4.09 4.13 4.11 3.80 3.67 3.97 3.60 3.67
Enterprise Value to EBITDA (EV/EBITDA)		 13.74 11.12 0.00 13.32 13.50 16.31 15.13 13.93 15.64 12.86 14.42
Enterprise Value to EBIT (EV/EBIT)		 23.35 16.32 0.00 20.68 20.34 26.44 23.30 20.73 23.72 18.64 21.31
Enterprise Value to NOPAT (EV/NOPAT)		 38.53 24.22 0.00 27.51 29.24 29.56 28.56 28.63 31.41 26.94 30.43
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.91 11.35 0.00 13.92 15.52 17.46 18.60 18.10 20.06 19.13 21.88
Enterprise Value to Free Cash Flow (EV/FCFF)		 22.09 18.57 0.00 0.00 0.00 0.00 164.25 477.70 37.45 161.19 209.96
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.13 1.26 1.30 1.31 1.39 1.48 1.45 1.48 1.51 1.59 1.60
Long-Term Debt to Equity		 1.00 1.16 1.21 1.21 1.27 1.36 1.36 1.42 1.46 1.50 1.50
Financial Leverage		 0.93 0.97 1.00 1.00 0.99 1.03 1.07 1.08 1.13 1.20 1.19
Leverage Ratio		 2.65 2.81 2.78 2.79 2.80 2.99 2.96 2.98 3.07 3.25 3.21
Compound Leverage Factor		 1.50 2.20 2.51 3.41 1.90 1.54 2.49 2.43 1.81 2.52 2.49
Debt to Total Capital		 53.10% 55.74% 56.55% 56.73% 58.08% 59.61% 59.13% 59.65% 60.11% 61.44% 61.53%
Short-Term Debt to Total Capital		 5.97% 4.45% 4.00% 4.26% 4.86% 4.84% 3.41% 2.40% 1.80% 3.55% 3.66%
Long-Term Debt to Total Capital		 47.12% 51.29% 52.55% 52.47% 53.22% 54.77% 55.71% 57.25% 58.31% 57.89% 57.86%
Preferred Equity to Total Capital		 4.67% 4.68% 4.40% 4.20% 4.16% 4.00% 3.91% 4.02% 3.95% 3.99% 3.83%
Noncontrolling Interests to Total Capital		 2.32% 2.08% 1.96% 1.86% 1.82% 1.75% 1.73% 1.72% 2.10% 2.10% 1.98%
Common Equity to Total Capital		 39.92% 37.50% 37.09% 37.21% 35.94% 34.64% 35.23% 34.61% 33.83% 32.47% 32.67%
Debt to EBITDA		 6.91 5.60 6.13 6.71 6.33 7.54 6.82 6.34 6.67 5.75 6.08
Net Debt to EBITDA		 5.31 4.03 4.76 5.06 4.92 5.86 5.29 4.88 5.12 4.45 4.69
Long-Term Debt to EBITDA		 6.13 5.16 5.69 6.21 5.80 6.92 6.43 6.08 6.47 5.42 5.72
Debt to NOPAT		 19.38 12.21 12.72 13.86 13.71 13.66 12.88 13.02 13.39 12.05 12.84
Net Debt to NOPAT		 14.90 8.78 9.88 10.44 10.65 10.62 9.98 10.03 10.28 9.33 9.90
Long-Term Debt to NOPAT		 17.20 11.23 11.82 12.82 12.56 12.55 12.14 12.50 12.99 11.35 12.08
Altman Z-Score		 0.58 0.62 0.00 0.60 0.65 0.60 0.75 0.77 0.79 0.73 0.83
Noncontrolling Interest Sharing Ratio		 14.44% 15.77% 15.24% 14.97% 14.58% 14.76% 14.23% 14.12% 14.72% 15.02% 14.45%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.67 0.83 0.68 0.77 0.62 0.55 0.73 0.75 0.80 0.63 0.81
Quick Ratio		 0.40 0.60 0.42 0.52 0.40 0.37 0.53 0.45 0.49 0.39 0.52
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 3,301 2,580 -4,140 -5,423 -10,053 -8,693 -2,604 -4,050 291 -3,460 -3,490
Operating Cash Flow to CapEx		 255.17% 280.37% 265.91% 208.21% 183.20% 135.30% 177.19% 170.73% 121.74% 104.22% 96.02%
Free Cash Flow to Firm to Interest Expense		 4.85 2.96 -6.19 -6.86 -10.34 -13.64 -2.81 -4.67 0.32 -3.60 -3.98
Operating Cash Flow to Interest Expense		 3.17 3.54 3.48 2.57 2.32 3.35 2.29 2.88 2.16 2.47 1.92
Operating Cash Flow Less CapEx to Interest Expense		 1.93 2.28 2.17 1.34 1.05 0.87 1.00 1.19 0.39 0.10 -0.08
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.25 0.25 0.24 0.23 0.26 0.26 0.28 0.29 0.29 0.31 0.32
Accounts Receivable Turnover		 7.73 8.66 8.86 10.08 10.02 8.98 9.23 11.70 10.39 9.42 7.84
Inventory Turnover		 11.62 11.62 15.34 16.29 15.94 18.73 25.69 25.93 20.14 25.04 28.45
Fixed Asset Turnover		 0.42 0.42 0.40 0.39 0.43 0.44 0.48 0.49 0.47 0.51 0.54
Accounts Payable Turnover		 3.39 4.09 5.18 5.06 4.83 4.92 6.47 6.93 5.62 5.31 5.30
Days Sales Outstanding (DSO)		 47.20 42.17 41.18 36.22 36.42 40.66 39.52 31.20 35.12 38.75 46.53
Days Inventory Outstanding (DIO)		 31.41 31.42 23.79 22.41 22.90 19.49 14.21 14.08 18.12 14.58 12.83
Days Payable Outstanding (DPO)		 107.79 89.33 70.52 72.16 75.59 74.21 56.45 52.66 64.98 68.79 68.85
Cash Conversion Cycle (CCC)		 -29.18 -15.74 -5.54 -13.54 -16.26 -14.07 -2.72 -7.39 -11.73 -15.46 -9.49
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 95,156 93,278 100,630 102,853 106,560 102,925 105,229 108,209 107,457 108,219 110,457
Invested Capital Turnover		 0.34 0.35 0.33 0.33 0.36 0.38 0.41 0.42 0.41 0.45 0.47
Increase / (Decrease) in Invested Capital		 -2,201 -1,533 5,746 6,636 11,404 9,647 4,599 5,356 897 5,294 5,227
Enterprise Value (EV)		 113,891 122,046 0.00 133,583 150,483 152,794 158,979 163,112 174,714 171,205 186,035
Market Capitalization		 62,324 70,336 0.00 75,668 88,425 91,060 96,554 98,810 110,029 104,330 118,124
Book Value per Share		 $21.29 $19.47 $19.95 $20.76 $20.04 $18.84 $19.60 $19.74 $19.22 $18.56 $19.09
Tangible Book Value per Share		 $8.09 $6.86 $6.47 $7.42 $6.70 $5.71 $6.48 $6.46 $6.06 $5.43 $6.03
Total Capital		 107,860 110,348 114,391 118,639 121,441 118,448 121,283 124,384 123,875 124,670 127,580
Total Debt		 57,270 61,505 64,684 67,299 70,536 70,606 71,711 74,195 74,466 76,593 78,496
Total Long-Term Debt		 50,826 56,594 60,108 62,249 64,629 64,871 67,570 71,205 72,235 72,173 73,824
Net Debt		 44,032 44,252 50,233 50,723 54,799 54,921 55,582 57,159 57,183 59,284 60,503
Capital Expenditures (CapEx)		 845 1,099 875 976 1,232 1,578 1,198 1,462 1,608 2,276 1,748
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 355 -1,922 78 -452 -875 -2,976 -901 -697 -980 -2,133 176
Debt-free Net Working Capital (DFNWC)		 2,311 2,612 1,100 2,251 611 -1,660 638 247 105 -1,275 1,481
Net Working Capital (NWC)		 -4,133 -2,300 -3,476 -2,800 -5,296 -7,395 -3,502 -2,742 -2,126 -5,695 -3,191
Net Nonoperating Expense (NNE)		 639 -190 450 -249 279 733 264 -398 579 198 463
Net Nonoperating Obligations (NNO)		 44,566 44,434 50,923 51,513 55,655 55,083 55,657 58,019 58,048 60,141 61,372
Total Depreciation and Amortization (D&A)		 821 947 881 921 998 788 979 1,076 959 1,115 1,027
Debt-free, Cash-free Net Working Capital to Revenue		 1.09% -5.81% 0.24% -1.38% -2.40% -8.02% -2.15% -1.57% -2.23% -4.49% 0.35%
Debt-free Net Working Capital to Revenue		 7.07% 7.90% 3.41% 6.89% 1.68% -4.47% 1.53% 0.56% 0.24% -2.68% 2.92%
Net Working Capital to Revenue		 -12.64% -6.96% -10.76% -8.57% -14.54% -19.91% -8.37% -6.16% -4.83% -11.98% -6.29%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.26 $0.41 $0.67 $0.63 $0.44 ($0.11) $0.72 $0.73 $0.22 $0.68 $0.55
Adjusted Weighted Average Basic Shares Outstanding		 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B
Adjusted Diluted Earnings per Share		 $0.26 $0.42 $0.67 $0.63 $0.44 ($0.11) $0.72 $0.73 $0.22 $0.68 $0.54
Adjusted Weighted Average Diluted Shares Outstanding		 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 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		 2.13B 2.13B 2.13B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B 2.18B
Normalized Net Operating Profit after Tax (NOPAT)		 1,100 1,047 1,606 1,213 1,350 955 1,995 1,494 1,188 1,834 1,738
Normalized NOPAT Margin		 15.12% 11.66% 19.70% 14.64% 12.26% 9.86% 15.51% 13.68% 11.30% 13.85% 10.84%
Pre Tax Income Margin		 7.63% 19.51% 17.68% 24.17% 11.82% 3.34% 17.23% 20.08% 7.94% 14.33% 10.58%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.44 2.58 2.39 2.07 1.97 0.98 2.84 3.10 1.56 2.54 2.49
NOPAT to Interest Expense		 1.62 1.20 2.40 1.53 1.39 1.50 2.15 1.51 1.31 1.91 1.98
EBIT Less CapEx to Interest Expense		 0.20 1.32 1.08 0.84 0.71 -1.49 1.55 1.41 -0.21 0.17 0.50
NOPAT Less CapEx to Interest Expense		 0.37 -0.06 1.09 0.30 0.12 -0.98 0.86 -0.18 -0.46 -0.46 -0.01
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 243.95% 131.91% 141.04% 142.80% 130.35% 152.64% 133.18% 130.66% 142.23% 115.53% 127.24%
Augmented Payout Ratio		 247.87% 133.97% 141.04% 142.80% 130.39% 152.64% 133.18% 130.66% 142.23% 115.53% 127.24%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, data-driven snapshot of Enbridge (NYSE: ENB) using the last four years of quarterly statements. The focus is on multi-year trends in revenue, profitability, cash flow, liquidity, and leverage to help retail investors gauge the company’s trajectory and risk profile.

  • Revenue growth: ENB's Q4 2025 operating revenue rose to about $13.244B from $9.683B in Q4 2024, indicating meaningful growth in the core business over the period.
  • Solid gross margin: Q4 2025 gross profit was about $5.497B on $13.244B of revenue, roughly a 41% gross margin, showing the business maintains a healthy profitability before operating expenses.
  • Robust operating cash flow: Net cash from continuing operating activities in Q4 2025 was about $2.371B, underscoring strong cash generation from the business line.
  • Sustained capital investment: Purchases of property, plant & equipment in Q4 2025 were around $2.276B, reflecting ongoing, substantial capex to support asset base growth and future cash flows.
  • Dividend framework: ENB continued to support shareholder returns, with cash dividends per share around $0.92 in Q2 2025, consistent with a high-yield, income-focused policy.
  • Debt load: Long-term debt stood at about $72.2B (example figure from Q3 2025: 72,235,226,538)—typical for a large, regulated-energy infrastructure company but a key lever for future interest costs and coverage considerations.
  • Asset base and leverage: Total assets were around $155.8B in mid-2025, with total liabilities near $106.4B, implying a sizable, asset-heavy balance sheet and substantial leverage by design.
  • Earnings variability: Net income fluctuates quarter to quarter (e.g., Q3 2025 net income ~ $0.61B vs. Q4 2025 ~ $1.50B), suggesting earnings are influenced by project timing, maintenance cycles, and interest/other expenses.
  • Interest burden: Interest expense remains material (Q3 2025 about $0.91B; Q4 2025 about $0.96B), which compresses net income and highlights sensitivity to financing costs in a rising rate environment.
  • Financing cash flow pressure: Net cash from financing activities was negative in recent periods (for example, around -$104.6M in Q4 2025), indicating cash outflows tied to debt service and dividends rather than external equity funding.
05/29/26 01:11 PM ETAI Generated. May Contain Errors.

Enbridge Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Enbridge's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Enbridge's net income appears to be on an upward trend, with a most recent value of $5.68 billion in 2025, falling from -$114.96 million in 2015. The previous period was $3.91 billion in 2024. See Enbridge's forecast for analyst expectations on what's next for the company.

Enbridge's total operating income in 2025 was $7.99 billion, based on the following breakdown:
  • Total Gross Profit: $19.81 billion
  • Total Operating Expenses: $11.81 billion

Over the last 10 years, Enbridge's total revenue changed from $24.43 billion in 2015 to $47.55 billion in 2025, a change of 94.6%.

Enbridge's total liabilities were at $111.25 billion at the end of 2025, a 6.7% increase from 2024, and a 147.5% increase since 2015.

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 $797.84 million as of their latest financial filing in 2025.

Over the last 10 years, Enbridge's book value per share changed from 10.51 in 2015 to 18.56 in 2025, a change of 76.6%.


Related Companies

Financial statements for NYSE:ENB last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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