Enbridge (ENB) Financials

$44.19 +0.17 (+0.39%)

Closing price 03:59 PM Eastern

Extended Trading

$44.26 +0.07 (+0.16%)

As of 07:59 PM Eastern

Annual Income Statements for Enbridge

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

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

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

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
Net Change in Cash & Equivalents	-105	650	-775	37	30	-146	-133	434	3,846	-2,767
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
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
Net Income / (Loss) Continuing Operations	-115	1,718	2,595	2,442	4,491	2,678	4,942	2,171	4,589	3,910
Consolidated Net Income / (Loss)	-115	1,718	2,595	2,442	4,491	2,678	4,942	2,171	4,589	3,910
Depreciation Expense	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	2,454	762	451	2,204	338	2,007	435	2,946	923	1,344
Changes in Operating Assets and Liabilities, net	-497	-274	-269	670	-200	73	-1,147	-8.87	1,750	-92
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
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
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
Acquisitions	-150	-574	-627	-396	-154	-187	-3,178	-740	-891	-9,508
Purchase of Investments	-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	0.00	0.00	99	936	79	540	468	564	851	545
Other Investing Activities, net	-26	-88	168	-8.79	-15	-	0.00	0.00	-46	-39
Net Cash From Financing Activities	2,223	625	2,762	-5,498	-3,657	-3,739	967	-4,011	-2,169	2,461
Net Cash From Continuing Financing Activities	2,223	625	2,762	-5,498	-3,657	-3,739	967	-4,011	-2,169	2,461
Repayment of Debt	-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	-1,469	-1,760	-3,555	-3,730	-5,094	-5,675	-5,795	-5,590	-6,053	-5,969
Issuance of Debt	3,461	1,142	6,543	939	5,395	1,209	2,317	-985	-6,125	4,617
Issuance of Common Equity	486	1,703	1,892	33	23	22	16	12	3,379	1,728
Other Financing Activities, net	484	440	936	996	-	4,100	0.00	807	0.00	0.00
Effect of Exchange Rate Changes	103	-14	-57	50	34	-16	-3.91	41	-164	163
Cash Interest Paid	1,327	1,354	2,120	1,838	2,110	1,990	1,900	2,158	2,560	2,871
Cash Income Taxes Paid	58	144	137	203	440	411	383	366	438	598

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

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

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

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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-24.61%	5.25%	37.13%	-3.63%	13.54%	-20.59%	20.23%	6.93%	-16.07%	12.31%
EBITDA Growth	-40.73%	89.19%	-5.38%	42.42%	58.69%	0.21%	5.95%	-33.45%	66.74%	-14.63%
EBIT Growth	-66.80%	220.56%	-40.21%	117.15%	91.95%	-4.13%	7.02%	-50.67%	120.57%	-22.73%
NOPAT Growth	-1,082.59%	109.30%	296.04%	-54.02%	49.41%	3.30%	-1.87%	-50.40%	103.55%	2.60%
Net Income Growth	-108.30%	1,594.62%	51.05%	-5.90%	83.87%	-40.37%	84.54%	-56.06%	111.35%	-14.78%
EPS Growth	-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	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	-168.81%	95.64%	-7,372.09%	119.48%	-62.40%	4.99%	-129.53%	691.32%	12.71%	-168.14%
Invested Capital Growth	-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%	-10.15%	8.31%	-1.90%	-0.51%	-1.64%	1.10%	1.94%
EBITDA Q/Q Growth	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%	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%	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%	44.81%	-2.10%	37.11%	-0.68%	-52.72%	91.35%	-20.61%
EPS Q/Q Growth	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%	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%	-47.46%	-34.89%	-269.76%	63.88%	27.43%	28.44%
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%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	25.31%	30.54%	35.47%	36.61%	38.08%	47.12%	39.02%	38.87%	51.05%	45.69%
EBITDA Margin	9.42%	16.94%	11.69%	17.27%	24.14%	30.46%	26.84%	16.71%	33.19%	25.23%
Operating Margin	5.51%	7.47%	3.54%	10.38%	16.50%	20.36%	16.58%	9.71%	19.82%	18.04%
EBIT Margin	3.43%	10.45%	4.56%	10.27%	17.37%	20.97%	18.66%	8.61%	22.62%	15.56%
Profit (Net Income) Margin	-0.47%	6.68%	7.36%	7.19%	11.64%	8.74%	13.41%	5.51%	13.88%	10.53%
Tax Burden Percent	-1,445.45%	94.21%	573.99%	93.36%	77.33%	81.53%	81.69%	64.69%	76.89%	77.15%
Interest Burden Percent	0.95%	67.84%	28.13%	74.94%	86.66%	51.13%	87.99%	98.98%	79.79%	87.70%
Effective Tax Rate	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)	-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)	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)	43.61%	5.51%	-3.47%	0.86%	2.87%	-0.42%	4.64%	1.94%	4.23%	2.82%
Return on Equity (ROE)	-0.67%	9.81%	6.98%	4.47%	8.37%	5.15%	9.88%	4.50%	9.59%	8.09%
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%
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%
Return on Assets (ROA)	-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)	-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)	-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)	-19,460	1,809	7,166	3,295	4,923	5,085	4,990	2,475	5,038	5,169
NOPAT Margin	-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)	-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	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	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%
Operating Expenses to Revenue	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)	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)	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)	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)	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)	0.70	0.90	0.69	1.11	1.56	1.70	1.85	1.72	2.13	2.45
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
Dividend Yield	7.30%	6.02%	7.15%	9.50%	7.47%	9.41%	7.99%	7.92%	7.94%	6.37%
Earnings Yield	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)	1.19	1.28	0.83	0.91	1.16	1.10	1.26	1.30	1.31	1.48
Enterprise Value to Revenue (EV/Rev)	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)	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)	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)	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)	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	9.53	33.05	30.43	0.00	21.06	18.57	0.00
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
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
Financial Leverage	1.56	1.40	0.84	0.67	0.67	0.76	0.90	1.00	0.97	1.03
Leverage Ratio	3.61	3.56	2.59	2.30	2.31	2.42	2.58	2.75	2.81	2.99
Compound Leverage Factor	0.03	2.41	0.73	1.72	2.00	1.24	2.27	2.72	2.25	2.62
Debt to Total Capital	65.27%	61.76%	48.29%	46.80%	48.35%	50.97%	54.41%	56.09%	55.74%	59.61%
Short-Term Debt to Total Capital	4.03%	6.71%	3.20%	3.10%	3.95%	3.11%	5.52%	5.57%	4.45%	4.84%
Long-Term Debt to Total Capital	61.24%	55.04%	45.09%	43.70%	44.40%	47.86%	48.89%	50.52%	51.29%	54.77%
Preferred Equity to Total Capital	10.13%	10.94%	5.74%	5.61%	5.77%	5.90%	5.57%	4.72%	4.68%	4.00%
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%
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%
Debt to EBITDA	13.18	7.00	12.57	8.07	5.38	5.62	5.99	9.09	5.60	7.54
Net Debt to EBITDA	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	12.37	6.24	11.74	7.53	4.94	5.28	5.38	8.19	5.16	6.92
Debt to NOPAT	-1.56	16.84	7.23	14.37	10.17	10.31	11.86	24.18	12.21	13.66
Net Debt to NOPAT	-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	-1.46	15.01	6.75	13.42	9.34	9.68	10.66	21.78	11.23	12.55
Altman Z-Score	0.63	0.78	0.45	0.61	0.87	0.69	0.79	0.68	0.75	0.71
Noncontrolling Interest Sharing Ratio	48.08%	44.41%	31.99%	21.97%	15.98%	16.34%	16.47%	16.26%	15.77%	14.76%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.70	0.63	0.63	0.58	0.55	0.53	0.49	0.60	0.83	0.55
Quick Ratio	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)	-13,316	-581	-43,429	8,458	3,180	3,339	-986	5,831	6,572	-4,478
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%
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
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
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
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.39	0.41	0.37	0.27	0.31	0.24	0.29	0.30	0.25	0.26
Accounts Receivable Turnover	5.50	6.73	7.54	6.49	7.70	6.54	7.65	8.13	8.66	8.98
Inventory Turnover	20.37	20.76	21.35	19.63	24.11	14.70	17.89	16.20	11.62	18.73
Fixed Asset Turnover	0.53	0.54	0.59	0.48	0.55	0.42	0.48	0.51	0.42	0.44
Accounts Payable Turnover	3.36	3.33	3.51	2.92	3.21	2.17	3.01	3.90	4.09	4.92
Days Sales Outstanding (DSO)	66.31	54.26	48.42	56.25	47.42	55.79	47.69	44.88	42.17	40.66
Days Inventory Outstanding (DIO)	17.92	17.58	17.10	18.60	15.14	24.84	20.40	22.53	31.42	19.49
Days Payable Outstanding (DPO)	108.63	109.76	103.94	125.02	113.78	167.86	121.44	93.61	89.33	74.21
Cash Conversion Cycle (CCC)	-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	40,879	43,269	93,864	88,701	90,443	92,190	98,166	94,811	93,278	102,925
Invested Capital Turnover	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	-6,144	2,391	50,594	-5,163	1,743	1,747	5,976	-3,355	-1,533	9,647
Enterprise Value (EV)	48,784	55,480	77,682	80,610	105,115	101,585	124,064	122,803	122,046	152,794
Market Capitalization	17,093	23,041	24,365	37,629	60,080	51,938	67,983	67,773	70,336	91,060
Book Value per Share	$10.51	$12.12	$42.46	$26.23	$22.20	$20.75	$20.51	$19.37	$19.47	$18.84
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
Total Capital	46,506	49,338	107,265	101,156	103,556	102,896	108,795	106,694	110,348	118,448
Total Debt	30,353	30,470	51,797	47,345	50,065	52,441	59,200	59,843	61,505	70,606
Total Long-Term Debt	28,481	27,158	48,368	44,206	45,979	49,244	53,190	53,901	56,594	64,871
Net Debt	24,492	24,086	37,892	34,399	36,472	41,225	48,028	47,397	44,252	54,921
Capital Expenditures (CapEx)	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)	-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)	-454	-78	-869	-1,466	-1,451	-2,000	-1,245	-84	2,612	-1,660
Net Working Capital (NWC)	-2,326	-3,390	-4,298	-4,604	-5,537	-5,197	-7,255	-6,026	-2,300	-7,395
Net Nonoperating Expense (NNE)	-19,345	91	4,571	852	432	2,407	49	304	450	1,259
Net Nonoperating Obligations (NNO)	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)	1,463	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	-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	-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	-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	($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	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	($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	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
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
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
Normalized NOPAT Margin	4.97%	10.79%	9.68%	13.97%	13.41%	16.60%	13.55%	9.93%	15.98%	14.20%
Pre Tax Income Margin	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	0.71	2.27	0.79	1.76	3.27	2.94	3.31	1.44	2.59	1.88
NOPAT to Interest Expense	-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	-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	-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	-1,277.99%	102.43%	136.96%	152.72%	113.44%	211.94%	117.26%	257.49%	131.91%	152.64%
Augmented Payout Ratio	-1,277.99%	102.43%	136.96%	152.72%	113.44%	211.94%	123.84%	262.63%	133.97%	152.64%

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

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

Frequently Asked Questions About Enbridge's Financials

When does Enbridge's financial year end?

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

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

Enbridge's net income appears to be on an upward trend, with a most recent value of $3.91 billion in 2024, falling from -$114.96 million in 2015. The previous period was $4.59 billion in 2023.

What is Enbridge's operating income?

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

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

How has Enbridge revenue changed over the last 9 years?

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

How much debt does Enbridge have?

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

How much cash does Enbridge have?

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

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

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

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This page (NYSE:ENB) was last updated on 4/15/2025 by MarketBeat.com Staff

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Enbridge (ENB) Financials

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Enbridge (ENB) Financials

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