Enbridge owns extensive midstream assets that transport hydrocarbons across the US and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines.
It is a $104B industrial company. Revenue grew 13.3% over the last year, it keeps 10¢ of every dollar of sales as profit, and its net debt equals ~52.9 years of free cash flow. It trades at 24.5× earnings.
- Website
- enbridge.com
- Location
- Calgary, A0
- Employees
- 14 800
- Sector
- Industrials
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Profitability, Health and Moat lag behind.
Valuation67
- P/E vs own history12th pct · 25/25
- FCF yield1.8% · 5/25
- P/S1.8x · 25/25
- EV/EBITDA15.4x · 12/25
Growth50
- Revenue CAGR8.5% · 12/25
- Net income CAGR4.9% · 6/25
- EPS CAGR ~5Y16.8% · 20/25
- Fwd implied growth14.9% · 12/25
Profitability49
- ROIC4.6% · 5/25
- ROE9.5% · 12/25
- Net margin10.0% · 20/25
- Operating margin13.3% · 12/25
Health32
- Altman Z0.38 · 3/25
- Current ratio0.72 · 6/25
- Interest coverage6.2x · 18/25
- Net cash / debtD/A 45% · 5/25
Quality73
- Piotroski F6/9 · 15/25
- Beneish M-2.50 · 25/25
- FCF conversion27% · 8/25
- Margin stabilityσ 4.7% · 25/25
Moat49
- ROIC >12% years0/9 yrs · 0/25
- Median gross margin38.9% · 13/25
- FCF-positive years8/9 yrs · 18/25
- Worst-year net marginworst 5.6% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionEnbridge announces the acquisition of Tallgrass Energy following a $2.55 billion agreement
- FY2025FinancialBest year on record$7.49B net income
- 2023AcquisitionIt was announced Enbridge had agreed to acquire East Ohio Gas, Questar Gas
- FY2019FinancialRevenue crossed $50B$50.1B for the year
- FY2018FinancialPositive free cash flow every year since8-year streak
- FY2017FinancialProfitable every year on record9 consecutive profitable years in our data
- FY2017FinancialRevenue already above $10B$44.4B in first reported year
- 2017AcquisitionEnbridge acquired Midcoast Energy Partners for $170 million in cash
- 2009AcquisitionEnbridge bought the Sarnia Photovoltaic Power Plant and expanded it up to 80 MW
- 2001ProductEnbridge released its first annual sustainability report in 2001
- 1998MilestoneIPL Energy became Enbridge Inc in 1998
- 1992AcquisitionInterprovincial Pipe Line Inc. was acquired by Interprovincial Pipe Line System Inc
- 1991MilestoneIt changed its name to Interprovincial Pipe Line Inc
- 1986MilestoneThrough a series of stakes exchanges, IPL gained control of Home Oil and in 1988, it changed its name to…
- 1953IPOIPL was listed on the Toronto and Montreal stock exchanges
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Revenue growing 13.3% year over year
- Interest covered 6.2× by operating earnings
Watch-outs
- Altman Z-Score 0.38 — elevated financial-distress risk
- Net debt would take ~55.0 years of free cash flow to repay
- Net debt equals ~52.9 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+13.3% YoY
- Profitable — makes more than it spends$6.91B TTM
- Profit growing — earnings are higher than last year+32.3% YoY
- Generates cash — cash left after running and investing$1.87B TTM
- Debt under control — could handle its obligations~52.9y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$104B market cap
- Not printing shares — share count not ballooning — you keep your slice+2.4% shares over ~5y
- Proven track record — years of profitability behind it9/9 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.4 — distress
- Pays a dividend — returns cash to shareholdersyield 5.85%
- Valuation not extreme — price not wildly above earningsP/E 24.5
Peer comparisonEnbridge, Inc vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| ENB this company | $103.9B | 24.5 | +13.3% | 10.0% | Strained |
| LRCX Lam Research Corp | $399.2B | 54.9 | +26.0% | 31.3% | Strong |
| CAT Caterpillar Inc. | $368.0B | 33.9 | +18.4% | 14.5% | Solid |
| RTX RTX Corporation | $251.3B | 32.4 | +11.8% | 8.3% | Strained |
| DE Deere & Company | $167.7B | 34.4 | +8.3% | 10.2% | Solid |
| ETN Eaton Corporation, plc | $167.2B | 43.6 | +15.5% | 12.8% | Mixed |
| UNP Union Pacific Corp. | $166.8B | 22.6 | +4.2% | 28.8% | Strained |
Head-to-head: ENB vs LRCX · ENB vs CAT · ENB vs RTX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2017–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/ENB
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Deeper analysis of ENB on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $46.60 · market cap $104B.