ENB Financials Enbridge Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings, in CAD as reported — with a computed, factual read of the trend. Updated Oct 16, 2026, 09:53 UTC Overview →

Growth & profitability

Revenue has grown 9.3% per year over the past 5 years.
Net income has grown faster than revenue (17.4% vs 9.3% per year).
Operating margin has contracted, at 37.4% in the latest year.
Free cash flow has declined 5.5% per year over the past 5 years.

Financial health

Total debt (CA$105.4B) exceeds cash (CA$1.1B); net debt is CA$104.3B.
Total debt has grown in line with revenue (9.7% vs 9.3% per year).
Operating income covered interest expense 2.2× in the latest year, down from 2.9× 5 years ago.
Total debt is 6.3× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 109.7% of earnings and 249.3% of free cash flow.
The dividend has grown 4.6% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	CA$29.3B	CA$7.5B	0.0%	37.4%	12.0%	3.4%	CA$3.3B	CA$105.4B	CA$1.1B
2024	CA$25.9B	CA$5.4B	0.0%	37.3%	8.3%	2.5%	CA$5.9B	CA$102.3B	CA$1.8B
2023	CA$24.1B	CA$6.2B	11.3%	35.9%	10.1%	3.4%	CA$9.5B	CA$80.8B	CA$5.9B
2022	CA$23.9B	CA$3.0B	-36.3%	21.7%	5.0%	1.7%	CA$6.6B	CA$80.7B	CA$861M
2021	CA$19.4B	CA$6.2B	-47.7%	40.2%	10.2%	3.7%	CA$1.4B	CA$75.3B	CA$286M
2020	CA$18.8B	CA$3.4B	-9.8%	42.3%	5.5%	2.1%	CA$4.4B	CA$66.5B	CA$452M
2019	CA$19.7B	CA$5.7B	-57.4%	41.9%	8.6%	3.5%	CA$3.9B	CA$64.5B	CA$648M
2018	CA$20.8B	CA$2.9B	-41.4%	23.2%	4.1%	1.7%	CA$3.7B	CA$64.0B	CA$518M
2017	—	CA$2.9B	—	—	4.9%	1.8%	-CA$1.6B	CA$64.4B	CA$480M
2016	—	CA$2.1B	—	—	9.7%	2.4%	CA$77M	—	CA$1.5B
2015	—	CA$251M	—	—	1.3%	0.3%	-CA$2.7B	—	CA$654M
2014	—	CA$1.4B	—	—	8.4%	1.9%	-CA$8.0B	—	CA$799M
2013	—	CA$629M	—	—	4.7%	1.1%	-CA$4.9B	—	CA$756M
2012	—	CA$707M	—	—	6.9%	1.5%	-CA$2.3B	—	CA$1.8B
2011	—	CA$814M	—	—	10.9%	2.0%	-CA$156M	—	CA$723M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	CA$6.6B	CA$1.5B	0.0%	44.1%	2.3%	0.6%	CA$1.1B	—	CA$2.0B
Mar '26	CA$9.0B	CA$1.8B	0.0%	36.0%	2.7%	0.8%	-CA$97M	—	CA$1.6B
Dec '25	CA$7.8B	CA$2.1B	0.0%	34.7%	3.3%	0.9%	CA$82M	CA$105.4B	CA$1.1B
Sep '25	CA$6.1B	CA$788M	0.0%	36.9%	1.2%	0.4%	CA$547M	—	CA$1.4B
Jun '25	CA$6.5B	CA$2.3B	0.0%	35.2%	3.5%	1.1%	CA$1.3B	—	CA$1.2B
Mar '25	CA$8.8B	CA$2.4B	0.0%	41.8%	3.5%	1.1%	CA$1.3B	—	CA$2.1B
Dec '24	CA$7.5B	CA$595M	0.0%	32.8%	0.9%	0.3%	CA$1.1B	CA$102.3B	CA$1.8B
Sep '24	CA$5.7B	CA$1.4B	-58.1%	38.7%	2.1%	0.7%	CA$1.3B	—	CA$1.9B
Jun '24	CA$5.9B	CA$1.9B	7.5%	38.3%	2.9%	1.0%	CA$1.5B	—	CA$3.6B
Mar '24	CA$6.8B	CA$1.5B	26.2%	40.0%	2.4%	0.8%	CA$2.0B	—	CA$1.2B
Dec '23	CA$6.2B	CA$1.8B	13.4%	29.6%	3.0%	1.0%	CA$2.4B	CA$80.8B	CA$5.9B
Sep '23	CA$5.2B	CA$621M	6.6%	34.7%	1.0%	0.3%	CA$1.9B	—	CA$2.6B
Jun '23	CA$5.6B	CA$1.9B	12.1%	42.0%	3.2%	1.1%	CA$2.5B	—	CA$1.0B
Mar '23	CA$7.2B	CA$1.8B	13.6%	36.9%	3.0%	1.0%	CA$2.7B	—	CA$976M
Dec '22	CA$6.9B	-CA$983M	-9.7%	-7.8%	-1.6%	-0.5%	CA$2.2B	CA$80.7B	CA$861M
Sep '22	CA$5.3B	CA$1.4B	-24.0%	33.2%	2.1%	0.7%	CA$942M	—	CA$1.0B
Jun '22	CA$5.2B	CA$595M	-66.9%	29.4%	1.0%	0.3%	CA$1.6B	—	CA$1.0B
Mar '22	CA$6.5B	CA$2.0B	-50.3%	37.3%	3.3%	1.2%	CA$1.9B	—	CA$413M
Dec '21	CA$5.5B	CA$1.9B	-33.9%	37.3%	3.2%	1.1%	-CA$41M	CA$75.3B	CA$286M
Sep '21	CA$4.2B	CA$780M	-75.9%	32.7%	1.3%	0.5%	CA$151M	—	CA$451M

Valuation over time

How the market has priced ENB against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 37.5× (Mar '23) to 20.0× (Nov '26).
The price-to-sales ratio has risen from 4.7× (Mar '23) to 5.1× (Nov '26).
The dividend yield has fallen from 6.2% (Mar '23) to 5.5% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is ENB growing its revenue and profit?

Over the past 5 years, Enbridge Inc's revenue has grown 9.3% per year, and net income grown 17.4% per year. These are computed facts, not advice.

How much debt does ENB have?

As of FY2025, Enbridge Inc reported CA$105.4B of total debt against CA$1.1B of cash; operating income covered interest expense 2.2×.

What is ENB's profit margin?

In FY2025, gross margin was —, operating margin 37.4%, and net margin 25.5%.

What is ENB's P/E ratio?

Enbridge Inc's P/E (TTM) is 24.47 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the ENB stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 20.0× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — its annual and interim reports, in CAD as reported (valuation multiples convert at the Federal Reserve H.10 rate of each date, via FRED) (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (annual and interim filings, reported in CAD) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · FX: Federal Reserve H.10 via FRED (DEXCAUS; 1 CAD = 0.7165 USD on 2026-10-30), the rate of each date for the valuation history · This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.