ES
MARKETS / NYSE / ENB
NYSE · PIPE LINES (NO NATURAL GAS) · LARGE CAP

Enbridge Inc. ENB

16 fiscal years on record · CAD · FY2025 reported
SEC FILINGS ONLY8 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
CAD 29.3B
▲ 13.3% vs FY2024
Dividend streak
8 yrs
Raised every year since 2018
EPS · FY25
CAD 3.22
Dividend / sh · FY25
CAD 3.77
Payout · FY25
110%
ROE · FY25
11.7%
Net margin · FY25
25.5%
Dividend coverage
0.9×
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Result
CAD 29.3B
Revenue, FY2025 · full 16-year series below
Revenue Net income
20406029.37.5201020132016201920222025
20406029.37.52016201920222025

26 cents of every revenue dollar became profit this year.

Per share
CAD 3.22
Diluted EPS, FY2025
EPS Dividend
243.773.22201020132016201920222025
243.773.222016201920222025

Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.

Profitability
11.7%
Return on equity, FY2025
ROE
481211.7%201020132016201920222025
481211.7%2016201920222025
Operating margin37.4%
Net margin25.5%
Return on assets3.4%

Each CAD of equity produced 12 cents of profit this year.

Returned to shareholders
CAD 8.2B
returned in FY2025 · dividends + net buybacks
Dividends paidCAD 8.2B
Net buybacksCAD -28.0M
Share of profit109.7%
Consecutive raises8 years

CAD 8.2B in dividends — 110% of the year's profit, so the payout drew on cash built up earlier.

Growth
+9.3% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+7.0%
+9.3%
−1.4%
+2.1%
Net income
+35.6%
+17.4%
+40.4%
+14.8%
EPS, diluted
+36.0%
+16.8%
Dividend / share
+3.1%
+3.1%
Returned to shareholders
+4.9%
+4.6%
+24.1%
+21.8%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
2.18B
Shares outstanding, FY2025
0.782.18201020132016201920222025
0.942.182016201920222025
Change, 5 years+7.7%
Change, 10 years—

The share count grew 8% in five years — the same company, cut into more, smaller slices.

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Balance sheet
CAD 218.5B
total assets, end of FY2025
Total assetsCAD 218.5B
EquityCAD 62.3B
CashCAD 1.1B
Gross debtCAD 105.4B
Net debtCAD 104.3B
Current ratio0.63×

Net debt stands at 167% of equity.

History
16 fiscal years
Every figure from documents filed with the SEC · CAD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Revenue CAD B
29.3
25.9
24.1
23.9
19.4
18.8
19.7
20.8
44.4
34.6
33.8
37.6
32.9
24.7
26.8
21.5
Operating income CAD B
11.0
9.6
8.7
5.2
7.8
8.0
8.3
4.8
1.6
2.6
1.9
3.2
1.4
1.6
2.6
1.3
EBITDA CAD B
16.6
14.8
13.3
9.5
11.7
11.7
11.7
8.1
4.7
4.8
3.9
4.8
2.7
2.8
3.7
2.3
Income tax CAD B
2.0
1.7
1.8
1.6
1.4
0.8
1.7
0.2
−2.7
0.1
0.2
0.6
0.1
0.2
0.5
0.2
Net income CAD B
7.5
5.4
6.2
3.0
6.2
3.4
5.7
2.9
2.9
2.1
0.3
1.4
0.6
0.7
0.8
1.0
EPS, diluted CAD
3.22
2.34
2.84
1.28
2.87
1.48
2.63
1.46
1.65
1.93
−0.04
1.37
0.55
0.77
1.05
1.26
Dividend / sh CAD
3.77
3.66
3.55
3.44
3.34
3.24
2.95
2.68
2.41
2.12
1.86
1.40
1.26
1.13
0.98
0.85
Payout %
110
145
118
232
109
195
105
121
96
56
378
53
107
84
65
45
ROE %
11.7
8.5
10.2
5.0
10.1
5.3
8.4
4.5
7.2
10.3
1.4
9.3
5.3
8.0
10.9
·
Shares out B
2.18
2.18
2.12
2.02
2.03
2.03
2.02
2.02
1.70
0.94
0.87
0.85
0.83
0.81
0.78
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
46 of 46
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed