Financials Enbridge Inc.

Equities

ENB

CA29250N1050

Oil & Gas Transportation Services

Market Closed - Toronto S.E. 02:14:23 22/06/2024 am IST 5-day change 1st Jan Change
47.5 CAD -0.11% Intraday chart for Enbridge Inc. -1.55% -0.42%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,04,495 82,447 1,00,109 1,07,153 1,01,390 1,00,990 - -
Enterprise Value (EV) 1 1,68,810 1,48,892 1,75,463 1,87,272 1,76,688 1,99,445 2,01,910 2,03,388
P/E ratio 19.6 x 27.5 x 17.2 x 41.3 x 16.8 x 17.3 x 15.1 x 14.3 x
Yield 5.72% 7.96% 6.76% 6.5% 7.44% 7.72% 7.94% 8.17%
Capitalization / Revenue 2.09 x 2.11 x 2.13 x 2.01 x 2.32 x 2.47 x 2.37 x 2.23 x
EV / Revenue 3.37 x 3.81 x 3.73 x 3.51 x 4.05 x 4.88 x 4.74 x 4.49 x
EV / EBITDA 12.7 x 11.2 x 12.5 x 12.1 x 10.7 x 11 x 10.5 x 10.1 x
EV / FCF 43.2 x 34 x 122 x 28.4 x 18.5 x 27.7 x 30.4 x 24.7 x
FCF Yield 2.31% 2.94% 0.82% 3.52% 5.4% 3.61% 3.29% 4.04%
Price to Book 1.58 x 1.34 x 1.64 x 1.79 x 1.65 x 1.73 x 1.79 x 1.84 x
Nbr of stocks (in thousands) 20,23,912 20,25,219 20,26,085 20,24,819 21,25,574 21,26,100 - -
Reference price 2 51.63 40.71 49.41 52.92 47.70 47.50 47.50 47.50
Announcement Date 14/02/20 12/02/21 11/02/22 10/02/23 09/02/24 - - -
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 40,841 42,609 45,253
EBITDA 1 13,271 13,273 14,001 15,531 16,454 18,135 19,164 20,076
EBIT 1 9,880 9,561 10,149 11,104 11,692 12,953 13,705 14,435
Operating Margin 19.73% 24.46% 21.56% 20.83% 26.79% 31.72% 32.16% 31.9%
Earnings before Tax (EBT) 1 7,535 4,190 7,729 4,542 7,879 7,997 8,847 9,996
Net income 1 5,322 2,983 5,816 2,589 5,839 5,776 6,488 7,127
Net margin 10.63% 7.63% 12.36% 4.86% 13.38% 14.14% 15.23% 15.75%
EPS 2 2.640 1.480 2.870 1.280 2.840 2.750 3.156 3.323
Free Cash Flow 1 3,906 4,376 1,438 6,583 9,547 7,202 6,646 8,219
FCF margin 7.8% 11.2% 3.05% 12.35% 21.87% 17.63% 15.6% 18.16%
FCF Conversion (EBITDA) 29.43% 32.97% 10.27% 42.39% 58.02% 39.71% 34.68% 40.94%
FCF Conversion (Net income) 73.39% 146.7% 24.72% 254.27% 163.5% 124.7% 102.44% 115.32%
Dividend per Share 2 2.952 3.240 3.340 3.440 3.550 3.667 3.774 3.882
Announcement Date 14/02/20 12/02/21 11/02/22 10/02/23 09/02/24 - - -
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 5,918 5,700 6,678 7,788 5,903
EBITDA 1 3,687 4,147 3,715 3,758 3,911 4,468 4,008 3,871 4,107 4,954 4,229 4,205 4,770 5,245 4,580
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% 50.57% 51.86% 50.68% 53.16% 51.4%
Earnings before Tax (EBT) 1 2,428 2,057 740 1,701 -549 2,376 2,520 751 2,232 1,951 1,980 1,864 2,136 2,599 1,840
Net income 1 1,840 1,927 450 1,279 -1,067 1,733 1,848 532 1,726 1,419 1,349 1,270 1,496 1,887 1,312
Net margin 14.7% 12.76% 3.41% 11.05% -7.95% 14.35% 17.71% 5.4% 15.28% 12.86% 22.79% 22.27% 22.4% 24.23% 22.22%
EPS 2 0.9100 0.9500 0.2200 0.6300 -0.5300 0.8600 0.9100 0.2600 0.8100 0.6700 0.6500 0.6493 0.7691 0.9111 0.6529
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 11/02/22 06/05/22 29/07/22 04/11/22 10/02/23 05/05/23 04/08/23 03/11/23 09/02/24 10/05/24 - - - - -
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 98,455 1,00,920 1,02,399
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.846 x 5.006 x 5.382 x 5.159 x 4.576 x 5.429 x 5.266 x 5.101 x
Free Cash Flow 1 3,906 4,376 1,438 6,583 9,547 7,202 6,646 8,219
ROE (net income / shareholders' equity) 7.88% 7.68% 9.52% 9.43% 9.47% 10.7% 11.8% 12.9%
ROA (Net income/ Total Assets) 3.24% 1.84% 3.53% 3.27% 3.19% 3.37% 3.53% 4.15%
Assets 1 1,64,500 1,61,715 1,64,570 79,252 1,82,972 1,71,553 1,83,620 1,71,730
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 6.130 6.320 6.530
Capex 1 5,492 5,405 7,818 4,647 4,654 6,370 7,422 6,561
Capex / Sales 10.97% 13.83% 16.61% 8.72% 10.66% 15.6% 17.42% 14.5%
Announcement Date 14/02/20 12/02/21 11/02/22 10/02/23 09/02/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
47.5 CAD
Average target price
53.33 CAD
Spread / Average Target
+12.26%
Consensus
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  4. Financials Enbridge Inc.