Stock ENB ENBRIDGE INC.
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Financials Enbridge Inc. Nyse

Equities

ENB

CA29250N1050

Oil & Gas Transportation Services

Market Closed - Nyse
Other stock markets
 16:00:02 2024-05-31 EDT 		5-day change 1st Jan Change
36.58 USD +2.29% Intraday chart for Enbridge Inc. +0.94% +1.55%
05-22 EU Green-lights Natural Gas JV by Enbridge, Others MT
05-16 Waste manager WM explores $3 billion sale of renewable natural gas unit, sources say RE

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 104,495 82,447 100,109 107,153 101,390 105,944 - -
Enterprise Value (EV) 1 168,810 148,892 175,463 187,272 176,688 201,589 204,274 205,916
P/E ratio 19.6 x 27.5 x 17.2 x 41.3 x 16.8 x 17.6 x 16.3 x 14.8 x
Yield 5.72% 7.96% 6.76% 6.5% 7.44% 7.36% 7.57% 7.79%
Capitalization / Revenue 2.09 x 2.11 x 2.13 x 2.01 x 2.32 x 2.47 x 2.32 x 2.16 x
EV / Revenue 3.37 x 3.81 x 3.73 x 3.51 x 4.05 x 4.7 x 4.47 x 4.2 x
EV / EBITDA 12.7 x 11.2 x 12.5 x 12.1 x 10.7 x 11.2 x 10.7 x 10.3 x
EV / FCF 43.2 x 34 x 122 x 28.4 x 18.5 x 30.1 x 29.6 x 25.5 x
FCF Yield 2.31% 2.94% 0.82% 3.52% 5.4% 3.32% 3.37% 3.92%
Price to Book 1.58 x 1.34 x 1.64 x 1.79 x 1.65 x 1.82 x 1.88 x 1.93 x
Nbr of stocks (in thousands) 2,023,912 2,025,219 2,026,085 2,024,819 2,125,574 2,126,100 - -
Reference price 2 51.63 40.71 49.41 52.92 47.70 49.83 49.83 49.83
Announcement Date 2/14/20 2/12/21 2/11/22 2/10/23 2/9/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 50,069 39,087 47,071 53,309 43,649 42,860 45,711 49,045
EBITDA 1 13,271 13,273 14,001 15,531 16,454 18,003 19,094 20,029
EBIT 1 9,880 9,561 10,149 11,104 11,692 12,976 13,673 14,310
Operating Margin 19.73% 24.46% 21.56% 20.83% 26.79% 30.28% 29.91% 29.18%
Earnings before Tax (EBT) 1 7,535 4,190 7,729 4,542 7,879 8,174 8,512 9,896
Net income 1 5,322 2,983 5,816 2,589 5,839 5,944 6,731 7,643
Net margin 10.63% 7.63% 12.36% 4.86% 13.38% 13.87% 14.72% 15.58%
EPS 2 2.640 1.480 2.870 1.280 2.840 2.831 3.054 3.374
Free Cash Flow 1 3,906 4,376 1,438 6,583 9,547 6,699 6,892 8,065
FCF margin 7.8% 11.2% 3.05% 12.35% 21.87% 15.63% 15.08% 16.44%
FCF Conversion (EBITDA) 29.43% 32.97% 10.27% 42.39% 58.02% 37.21% 36.09% 40.26%
FCF Conversion (Net income) 73.39% 146.7% 24.72% 254.27% 163.5% 112.7% 102.39% 105.52%
Dividend per Share 2 2.952 3.240 3.340 3.440 3.550 3.666 3.773 3.882
Announcement Date 2/14/20 2/12/21 2/11/22 2/10/23 2/9/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 12,520 15,097 13,215 11,573 13,424 12,075 10,432 9,844 11,298 11,038 9,813 7,235 10,877 10,305 7,021
EBITDA 1 3,687 4,147 3,715 3,758 3,911 4,468 4,008 3,871 4,107 4,954 4,219 4,200 4,753 5,201 4,564
EBIT 1 2,640 3,082 2,612 2,654 2,756 3,286 2,350 2,707 2,899 3,761 2,993 2,956 3,384 4,140 3,034
Operating Margin 21.09% 20.41% 19.77% 22.93% 20.53% 27.21% 22.53% 27.5% 25.66% 34.07% 30.5% 40.86% 31.11% 40.18% 43.22%
Earnings before Tax (EBT) 1 2,428 2,057 740 1,701 -549 2,376 2,520 751 2,232 1,951 2,027 1,951 2,228 2,617 1,803
Net income 1 1,840 1,927 450 1,279 -1,067 1,733 1,848 532 1,726 1,419 1,380 1,270 1,572 1,900 1,283
Net margin 14.7% 12.76% 3.41% 11.05% -7.95% 14.35% 17.71% 5.4% 15.28% 12.86% 14.07% 17.56% 14.45% 18.44% 18.27%
EPS 2 0.9100 0.9500 0.2200 0.6300 -0.5300 0.8600 0.9100 0.2600 0.8100 0.6700 0.6256 0.6155 0.7545 0.9145 0.6429
Dividend per Share 2 0.8350 0.8600 0.8600 0.8600 0.8600 0.8880 0.8900 0.8900 0.8875 0.9150 0.9175 0.9171 0.9304 0.9412 0.9412
Announcement Date 2/11/22 5/6/22 7/29/22 11/4/22 2/10/23 5/5/23 8/4/23 11/3/23 2/9/24 5/10/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 64,315 66,445 75,354 80,119 75,298 95,645 98,330 99,973
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.846 x 5.006 x 5.382 x 5.159 x 4.576 x 5.313 x 5.15 x 4.991 x
Free Cash Flow 1 3,906 4,376 1,438 6,583 9,547 6,699 6,892 8,065
ROE (net income / shareholders' equity) 7.88% 7.68% 9.52% 9.43% 9.47% 10.4% 11.7% 12.9%
ROA (Net income/ Total Assets) 3.24% 1.84% 3.53% 3.27% 3.19% 3.13% 3.4% 4.15%
Assets 1 164,500 161,715 164,570 79,252 182,972 190,199 197,965 184,161
Book Value Per Share 2 32.60 30.30 30.10 29.50 28.90 27.40 26.50 25.90
Cash Flow per Share 2 4.790 4.800 5.370 5.530 5.780 6.110 6.320 6.510
Capex 1 5,492 5,405 7,818 4,647 4,654 6,325 7,484 6,694
Capex / Sales 10.97% 13.83% 16.61% 8.72% 10.66% 14.76% 16.37% 13.65%
Announcement Date 2/14/20 2/12/21 2/11/22 2/10/23 2/9/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Enbridge Inc.

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
23
Last Close Price
49.83 CAD
Average target price
53.28 CAD
Spread / Average Target
+6.93%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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