MARKETS / NYSE / ENB

NYSE · PIPE LINES (NO NATURAL GAS) · LARGE CAP

Enbridge Inc. ENB

16 fiscal years on record · CAD · FY2025 reported · SEC filings only

8 YEARS OF DIVIDEND GROWTH

Revenue

CAD 29.3B

▲ 13.3% YoY

Net income

CAD 7.5B

▲ 37.7% YoY

Free cash flow

CAD 3.3B

▼ 44.0% YoY

Growth

CAD 29.3B

Revenue, FY2025 · full 16-year series below

Revenue CAD B Net income CAD B

FY2025 · Revenue 29.3 · Net income 7.5

Compound annual growth

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%

Returned to shareholders

+4.9%

+4.6%

+24.1%

+21.8%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +9.3% a year over five years — but profit grew faster: net income at +17.4%, earnings per share at +16.8%.

The share count rose from 2.03B to 2.18B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

27 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 37.4% · Net 26.6%

ROE

FY2025 · ROE 11.7%

Gross margin—

Operating margin37.4%

Net margin26.6%

Return on assets3.6%

EBITDACAD 16.6B

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

Cash & shareholders

CAD 8.2B

returned in FY2025 · dividends + net buybacks

Free cash flow CAD B

FY2025 · FCF 3.3

Net buybacks CAD B Dividends CAD B

FY2025 · Dividends 8.2 · Net buybacks -0.0

Dividends paidCAD 8.2B

Net buybacksCAD -28.0M

Share of profit109.7%

Consecutive raises8 years (since the 2017 share-count change)

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

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.

The 16-year record

16 fiscal years

Every figure from documents filed with the SEC · CAD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

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
Free cash flow CAD B	3.3	5.9	9.5	6.6	1.4	4.4	3.9	3.7	−1.6	0.1	−2.7	−8.0	−4.9	−2.3	−0.2	−1.2
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 a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 62 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityPipe Lines (No Natural Gas)

Listed onNYSE

Incorporated inoutside the United States — SEC code A0

Fiscal year endsDecember 31

Data on record since2010