ENB financial statements

The full income statement, balance sheet, and cash-flow statement for Enbridge Inc (ENB), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 2.18B2024-09 2.18B2024-12 2.18B2025-03 2.18B2025-06 2.18B2025-09 2.18B2025-12 2.18B2026-03 2.18B2026-06 2.18B+0.3% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	46.7B YoY+19.6%	39.0B YoY+20.6%	32.3B YoY-21.0%	41.0B YoY+9.0%	37.6B YoY+28.8%
Lease income	409M YoY+1.9%	401M YoY+0.3%	400M YoY-11.3%	451M YoY-5.2%	476M YoY+1.9%
Cost of revenue	—	—	15.8B YoY-36.8%	25.0B YoY+9.3%	22.9B YoY+48.6%
Selling, general & administrative	7.14B YoY+3.7%	6.88B YoY+7.9%	6.37B YoY+0.9%	6.31B YoY+17.9%	5.36B YoY+6.4%
General & administrative	7.14B YoY+3.7%	6.88B YoY+7.9%	6.37B YoY+0.9%	6.31B YoY+17.9%	5.36B YoY+6.4%
Amortization of intangibles	382M YoY-1.2%	387M YoY-2.5%	396M YoY+6.8%	371M YoY+33.6%	278M YoY+26.6%
Operating income	7.84B YoY+11.4%	7.04B YoY+9.8%	6.41B YoY+61.1%	3.98B YoY-36.1%	6.23B YoY+4.9%
Interest expense	3.60B YoY+11.5%	3.22B YoY+14.1%	2.82B YoY+15.7%	2.44B YoY+15.3%	2.12B YoY+1.8%
Other non-operating income	1.17B YoY+220.9%	-967M YoY-206.7%	907M YoY+300.4%	-452M YoY-157.9%	781M YoY+340.1%
Equity-method income	1.59B YoY-5.3%	1.68B YoY+24.9%	1.35B YoY-14.8%	1.58B YoY+23.7%	1.28B YoY+50.7%
Pre-tax income	7.01B YoY+31.6%	5.32B YoY-8.8%	5.84B YoY+67.3%	3.49B YoY-43.4%	6.17B YoY+97.3%
Income tax	1.43B YoY+17.9%	1.22B YoY-9.8%	1.35B YoY+9.5%	1.23B YoY+9.1%	1.13B YoY+95.6%
	5.36B YoY+35.1%	3.97B YoY-13.5%	4.59B YoY+98.8%	2.31B YoY-53.3%	4.94B YoY+96.9%
Net income to non-controlling interest	—	139M YoY+240.6%	-98.6M YoY-97.4%	-49.9M YoY-150.1%	99.7M YoY+152.3%
Preferred dividends	300M YoY+5.9%	283M YoY+8.5%	261M YoY-18.0%	318M YoY+6.9%	298M YoY+5.0%
Net income to common	5.06B YoY+37.3%	3.69B YoY-14.8%	4.33B YoY+117.5%	1.99B YoY-57.1%	4.64B YoY+108.6%
	$2.30 YoY+35.0%	$1.71 YoY-18.9%	$2.10 YoY+114.0%	$0.98 YoY-57.1%	$2.29 YoY+107.5%
EPS (basic)	$2.31 YoY+35.4%	$1.71 YoY-18.9%	$2.10 YoY+114.0%	$0.98 YoY-57.1%	$2.29 YoY+107.5%
	2.18B YoY+1.2%	2.15B YoY+4.8%	2.06B YoY+1.5%	2.02B YoY+0.1%	2.02B YoY+0.1%
	2.19B YoY+1.3%	2.16B YoY+4.9%	2.06B YoY+1.4%	2.03B YoY+0.2%	2.02B YoY+0.2%
Dividends per share	$2.70 YoY+1.1%	$2.67 YoY+1.5%	$2.63 YoY-0.5%	$2.64 YoY-0.8%	$2.67 YoY+10.3%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	9.63B YoY+5.1%	9.17B YoY-15.7%	10.9B YoY+21.2%	8.97B YoY+27.6%	7.03B YoY+22.1%
Cash & equivalents	799M YoY-36.4%	1.26B YoY-71.8%	4.46B YoY+600.8%	636M YoY+183.4%	224M YoY-36.6%
Inventory	1.18B YoY+14.2%	1.04B YoY-7.2%	1.12B YoY-32.9%	1.67B YoY+27.1%	1.31B YoY+8.9%
Other current assets	2.36B YoY+22.2%	1.93B YoY+4.7%	1.84B YoY-23.4%	2.40B	—
	160B YoY+4.6%	152B YoY+12.0%	136B YoY+2.7%	133B YoY+0.1%	133B YoY+5.5%
Property, plant & equipment	96.1B YoY+5.2%	91.3B YoY+15.5%	79.0B YoY+2.4%	77.2B YoY-1.7%	78.5B YoY+6.0%
Operating lease right-of-use	436M YoY-20.3%	547M YoY+8.2%	505M YoY+0.6%	502M YoY-0.8%	506M YoY-8.8%
Goodwill	25.8B YoY+1.1%	25.5B YoY+5.9%	24.1B YoY+0.4%	24.0B YoY-6.8%	25.7B YoY+0.4%
Intangible assets	2.91B YoY-8.8%	3.19B YoY+19.6%	2.67B YoY-10.0%	2.97B YoY-5.6%	3.15B YoY+93.0%
Long-term investments	15.5B YoY+7.7%	14.4B YoY+13.6%	12.7B YoY+7.7%	11.8B YoY+12.6%	10.5B YoY-3.4%
Deferred tax assets	512M YoY-7.7%	554M YoY+115.2%	258M YoY-26.1%	349M YoY-9.0%	383M YoY-36.5%
	15.3B YoY-7.5%	16.6B YoY+25.9%	13.2B YoY-12.2%	15.0B YoY+4.8%	14.3B YoY+30.6%
Accrued liabilities	—	—	—	3.87B YoY+10.2%	3.51B YoY+28.0%
Deferred revenue	—	—	—	780M YoY+16.5%	670M YoY-12.7%
Short-term & current debt	752M YoY+104.1%	368M YoY+699.5%	46.1M YoY-96.9%	1.47B YoY+24.0%	1.19B YoY+35.3%
Current lease liability	57.7M YoY-31.6%	84.3M YoY+13.8%	74.0M YoY+15.2%	64.3M YoY-11.0%	72.2M YoY+15.2%
Other current liabilities	4.51B YoY-10.6%	5.04B YoY+18.0%	4.27B YoY+10.8%	3.86B YoY+677.4%	496M YoY-2.9%
Finance lease liability (current)	33.6M YoY+201.4%	11.1M YoY-22.4%	14.4M YoY+14.3%	12.6M YoY+23.1%	10.2M YoY+18.3%
	111B YoY+6.6%	105B YoY+19.4%	87.5B YoY+1.9%	85.9B YoY+3.7%	82.8B YoY+10.1%
Long-term debt	76.2B YoY+7.5%	70.9B YoY+20305.8%	347M YoY-99.4%	58.2B YoY+0.4%	57.9B YoY+13.1%
Non-current lease liability	429M YoY-16.6%	514M YoY+4.3%	493M YoY-1.5%	500M YoY+4.1%	480M YoY-10.0%
Operating lease liability (total)	486M YoY-18.7%	598M YoY+5.6%	567M YoY+0.4%	564M YoY+2.1%	553M YoY-7.4%
Finance lease liability (total)	421M YoY+91.4%	220M YoY+2.9%	214M YoY+416.7%	41.4M YoY+14.6%	36.1M YoY-13.1%
Finance lease liability	388M YoY+85.6%	209M YoY+4.8%	199M YoY+592.1%	28.8M YoY+11.2%	25.9M YoY-21.3%
Deferred tax liabilities	14.8B YoY+8.5%	13.6B YoY+20.2%	11.4B YoY+11.5%	10.2B YoY+11.0%	9.18B YoY+13.3%
Other non-current liabilities	8.98B YoY-2.7%	9.23B YoY+41.3%	6.54B YoY-3.7%	6.79B YoY+13.5%	5.98B YoY-13.2%
	45.5B YoY-0.8%	45.9B YoY-1.1%	46.4B YoY+4.9%	44.2B YoY-7.3%	47.7B YoY-0.7%
Preferred stock	4.98B YoY+4.8%	4.75B YoY-7.8%	5.15B YoY+2.2%	5.04B YoY-17.2%	6.08B YoY+0.1%
Common stock	52.5B YoY+5.0%	50.0B YoY-4.4%	52.3B YoY+9.2%	47.8B YoY-5.9%	50.9B YoY+0.2%
Additional paid-in capital	177M YoY-7.7%	192M YoY-5.4%	202M YoY-0.4%	203M YoY-29.1%	286M YoY+32.0%
Retained earnings	-15.5B YoY-11.3%	-14.0B YoY-8.0%	-12.9B YoY-13.0%	-11.4B YoY-32.6%	-8.63B YoY-10.1%
Accumulated other comprehensive income	3.42B YoY-31.0%	4.95B YoY+184.8%	1.74B YoY-33.1%	2.60B YoY+402.3%	-860M YoY+21.7%
Non-controlling interest	2.08B YoY+0.0%	2.08B YoY-8.9%	2.29B YoY-11.8%	2.59B YoY+30.0%	2.00B YoY-15.0%
Total equity incl. non-controlling	47.6B YoY-0.8%	48.0B YoY-1.5%	48.7B YoY+4.0%	46.8B YoY-5.8%	49.7B YoY-1.4%
Total liabilities & equity	160B YoY+4.6%	152B YoY+12.0%	136B YoY+2.7%	133B YoY+0.1%	133B YoY+5.5%
	2.18B YoY+0.2%	2.18B	—	—	—
	2.18B YoY+0.2%	2.18B YoY+2.5%	2.13B YoY+4.9%	2.02B YoY-0.0%	2.03B YoY+0.0%
	2.18B YoY+0.1%	2.18B YoY+2.5%	2.13B YoY+5.0%	2.02B YoY-0.1%	2.03B YoY+0.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	8.78B YoY-4.5%	9.19B YoY-12.6%	10.5B YoY+22.0%	8.63B YoY+16.8%	7.39B YoY+1.2%
Depreciation & amortization	4.05B YoY+7.5%	3.77B YoY+10.3%	3.42B YoY+3.1%	3.32B YoY+7.9%	3.07B YoY+11.0%
Intangible amortization	382M YoY-1.2%	387M YoY-2.5%	396M YoY+6.8%	371M YoY+33.6%	278M YoY+26.6%
Deferred income taxes	734M YoY+39.9%	525M YoY-50.2%	1.05B YoY+43.1%	735M YoY-15.5%	871M YoY+161.1%
Change in inventory	119M YoY+192.0%	-129M YoY+77.2%	-565M YoY-222.9%	460M YoY+388.7%	94.2M YoY-50.3%
	-7.52B YoY+49.4%	-14.9B YoY-231.8%	-4.48B YoY-10.6%	-4.05B YoY+52.4%	-8.50B YoY-120.2%
Capital expenditure	6.42B YoY+31.2%	4.90B YoY+42.0%	3.45B YoY-3.4%	3.57B YoY-42.8%	6.24B YoY+54.7%
Free cash flow	2.36B YoY-45.1%	4.30B YoY-39.3%	7.07B YoY+39.9%	5.06B YoY+340.8%	1.15B YoY-64.8%
Acquisitions	0.00 YoY-100.0%	9.83B YoY+1290.3%	707M YoY+11.1%	636M YoY-78.9%	3.02B YoY+16772.0%
Other investing activities	32.9M YoY-19.4%	40.9M YoY-9.6%	45.2M	0.00	0.00
	-1.72B YoY-166.4%	2.59B YoY+221.8%	-2.12B YoY+49.1%	-4.17B YoY-522.8%	986M YoY+127.7%
Long-term debt issued	0.00	0.00	0.00	0.00 YoY-100.0%	6.41B YoY+64.3%
Long-term debt repaid	4.90B YoY+1.3%	4.84B YoY+35.5%	3.57B YoY+10.7%	3.23B YoY+78.5%	1.81B YoY-45.7%
Net short-term debt	359M YoY+281.0%	94.1M YoY+108.0%	-1.18B YoY-420.0%	370M YoY+17.5%	314M YoY+89.0%
Common stock issued	20.0M YoY-98.9%	1.81B YoY-45.0%	3.30B YoY+142972.6%	2.30M YoY-42.2%	3.99M YoY+7.0%
Common stock repurchased	0.00	0.00 YoY-100.0%	92.6M YoY-20.2%	116M	0.00
Dividends paid	5.88B YoY+2.4%	5.74B YoY+6.6%	5.39B YoY+0.7%	5.35B YoY-0.8%	5.40B YoY+10.3%
Other financing activities	-60.8M YoY-108.5%	-29.2M YoY+53.7%	-63.0M YoY+73.9%	-241M YoY-247.5%	-69.4M YoY-3.4%
FX effect on cash	-33.6M YoY-119.7%	171M YoY+206.7%	-160M YoY-478.8%	42.3M YoY+1159.1%	-3.99M YoY+73.3%
Net change in cash	-487M YoY+83.3%	-2.91B YoY-177.3%	3.76B YoY+734.4%	451M YoY+432.4%	-136M YoY+2.2%
Interest paid	3.52B YoY+16.9%	3.02B YoY+20.4%	2.50B YoY+11.6%	2.24B YoY+15.8%	1.94B YoY+2.3%
Income taxes paid	864M YoY+37.5%	628M YoY+46.7%	428M YoY+12.6%	380M YoY-2.5%	390M YoY-0.2%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	104B YoY+12.9%	92.5B YoY+20.8%	76.6B YoY-3.3%	79.2B YoY-0.0%	79.2B YoY+22.2%
P/E	19.5× YoY-16.4%	23.3× YoY-23.5%	30.5× YoY+78.3%	17.1× YoY+6.6%	16.0× YoY-37.9%
P/S	2.2× YoY-5.6%	2.4× YoY+5.1%	2.3× YoY+16.8%	1.9× YoY-8.4%	2.1× YoY-5.1%
P/B	2.3× YoY+13.8%	2.0× YoY+26.2%	1.6× YoY-5.4%	1.7× YoY+1.8%	1.7× YoY+23.1%
P/FCF	44.2× YoY+105.5%	21.5× YoY+93.3%	11.1× YoY-51.9%	23.1× YoY-66.5%	69.0× YoY+247.6%
	5.1% YoY+19.7%	4.3% YoY+30.8%	3.3% YoY-43.9%	5.9% YoY-6.2%	6.2% YoY+61.1%
	2.3% YoY-51.3%	4.6% YoY-48.3%	9.0% YoY+107.8%	4.3% YoY+198.3%	1.4% YoY-71.2%
	5.6% YoY-10.4%	6.3% YoY-13.8%	7.3% YoY+8.0%	6.8% YoY-0.9%	6.8% YoY-9.7%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: ENB's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ENB filings on SEC EDGAR → Not investment advice.