Enbridge IncEnbridge Inc
Enbridge Inc

Enbridge Inc

ENB
Energy·Oil, Gas & Consumable Fuels

Enbridge, Inc. engages in the provision of gas and oil. It operates through the following segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation. The Liquids Pipelines segment consists of pipelines and terminals in Canada and the United States that transport, store and export various grades of crude oil and other liquid hydrocarbons, including the Mainline System, Regional Oil Sands System, and Gulf Coast and Mid-Continent Systems. The Gas Transmission segment include investments in natural gas pipelines and gathering, processing and storage facilities in Canada and U.S., including U.S. Gas Transmission, and Canadian Gas Transmission. The Gas Distribution and Storage segment focuses on rate-regulated natural gas utility operations in Canada and U.S., which service residential, commercial, and industrial customers. The Renewable Power Generation segment consists of investments in wind and solar power generation facilities. The company was founded on April 30, 1949 and is headquartered in Calgary, Canada.

Market cap
No dataNo data
Revenue
$47.5B+27.8% YoY
Net income
$5.5B+44.4% YoY
Free cash flow
$2.4B−41.3% YoY

Market

Listed stock
Tokenized stocks
ENBPriceNYSE
Loading…Loading…1Y

Financial performance

Revenue
$47.5B+27.8% YoY
Operating income
$8B+19.1% YoY
Net income
$5.5B+44.4% YoY
Free cash flow
$2.4B−41.3% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $37.2B, 2022 $39.3B, 2023 $32.9B, 2024 $37.2B, 2025 $47.5B. Operating income: 2021 $6.2B, 2022 $3.8B, 2023 $6.5B, 2024 $6.7B, 2025 $8B. Net income: 2021 $4.9B, 2022 $2.2B, 2023 $4.7B, 2024 $3.8B, 2025 $5.5B. Free cash flow: 2021 $1.1B, 2022 $4.9B, 2023 $7.2B, 2024 $4.1B, 2025 $2.4B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
27.8%+1507 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
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Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $6.2B, 2022-12-31 $3.8B, 2023-12-31 $6.5B, 2024-12-31 $6.7B, 2025-12-31 $8B. Net income: 2021-12-31 $4.9B, 2022-12-31 $2.2B, 2023-12-31 $4.7B, 2024-12-31 $3.8B, 2025-12-31 $5.5B. Free cash flow: 2021-12-31 $1.1B, 2022-12-31 $4.9B, 2023-12-31 $7.2B, 2024-12-31 $4.1B, 2025-12-31 $2.4B

Growth heatmap

2022202320242025CAGR
Revenue
+5.5%
-16.1%
+12.8%
+27.8%
+6.3%
Gross profit
+5.1%
+10.1%
+120.9%
+27.8%
+34.5%
Operating income
-38.2%
+71.1%
+2.7%
+19.1%
+6.6%
Free cash flow
+326.4%
+48.5%
-43.2%
-41.3%
+20.5%

Earnings quality

Operating cash flow
$8.9B+2.1% YoY
Net income
$5.5B+44.4% YoY
Free cash flow
$2.4B−41.3% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 164%, 2024-12-31 232%, 2023-12-31 229%, 2022-12-31 374%, 2021-12-31 150%. Free cash flow: 2025-12-31 44%, 2024-12-31 108%, 2023-12-31 154%, 2022-12-31 219%, 2021-12-31 23%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
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FCF / share
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Diluted shares
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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