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ENBRIDGE INC - ENBCN 5.918 PERP (ENB-PR-P.CA) Stock Fundamental Analysis

TSX:ENB-PR-P - Toronto Stock Exchange - CA29250N7586 - Currency: CAD

20.53  -0.05 (-0.24%)

Fundamental Rating

4

ENB-PR-P gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 214 industry peers in the Oil, Gas & Consumable Fuels industry. ENB-PR-P has a medium profitability rating, but doesn't score so well on its financial health evaluation. ENB-PR-P is valued quite cheap, but it does not seem to be growing. Finally ENB-PR-P also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

In the past year ENB-PR-P was profitable.
In the past year ENB-PR-P had a positive cash flow from operations.
Each year in the past 5 years ENB-PR-P has been profitable.
Each year in the past 5 years ENB-PR-P had a positive operating cash flow.
ENB-PR-P.CA Yearly Net Income VS EBIT VS OCF VS FCFENB-PR-P.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5B 10B

1.2 Ratios

Looking at the Return On Assets, with a value of 3.05%, ENB-PR-P is in line with its industry, outperforming 55.72% of the companies in the same industry.
ENB-PR-P's Return On Equity of 9.55% is fine compared to the rest of the industry. ENB-PR-P outperforms 64.18% of its industry peers.
With a Return On Invested Capital value of 3.61%, ENB-PR-P perfoms like the industry average, outperforming 54.23% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for ENB-PR-P is below the industry average of 7.73%.
Industry RankSector Rank
ROA 3.05%
ROE 9.55%
ROIC 3.61%
ROA(3y)2.71%
ROA(5y)2.65%
ROE(3y)7.8%
ROE(5y)7.26%
ROIC(3y)3.72%
ROIC(5y)3.76%
ENB-PR-P.CA Yearly ROA, ROE, ROICENB-PR-P.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2 4 6 8

1.3 Margins

ENB-PR-P's Profit Margin of 12.95% is fine compared to the rest of the industry. ENB-PR-P outperforms 65.67% of its industry peers.
In the last couple of years the Profit Margin of ENB-PR-P has grown nicely.
ENB-PR-P's Operating Margin of 19.72% is fine compared to the rest of the industry. ENB-PR-P outperforms 64.68% of its industry peers.
ENB-PR-P's Operating Margin has improved in the last couple of years.
ENB-PR-P has a Gross Margin of 48.94%. This is in the better half of the industry: ENB-PR-P outperforms 63.68% of its industry peers.
In the last couple of years the Gross Margin of ENB-PR-P has grown nicely.
Industry RankSector Rank
OM 19.72%
PM (TTM) 12.95%
GM 48.94%
OM growth 3Y0.93%
OM growth 5Y6.39%
PM growth 3Y20.57%
PM growth 5Y19.79%
GM growth 3Y2.95%
GM growth 5Y6.79%
ENB-PR-P.CA Yearly Profit, Operating, Gross MarginsENB-PR-P.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30 40 50

2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ENB-PR-P is destroying value.
Compared to 1 year ago, ENB-PR-P has less shares outstanding
The number of shares outstanding for ENB-PR-P has been increased compared to 5 years ago.
The debt/assets ratio for ENB-PR-P has remained at the same level compared to a year ago.
ENB-PR-P.CA Yearly Shares OutstandingENB-PR-P.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B
ENB-PR-P.CA Yearly Total Debt VS Total AssetsENB-PR-P.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 50B 100B 150B

2.2 Solvency

Based on the Altman-Z score of 0.43, we must say that ENB-PR-P is in the distress zone and has some risk of bankruptcy.
ENB-PR-P has a Altman-Z score of 0.43. This is comparable to the rest of the industry: ENB-PR-P outperforms 41.79% of its industry peers.
The Debt to FCF ratio of ENB-PR-P is 13.61, which is on the high side as it means it would take ENB-PR-P, 13.61 years of fcf income to pay off all of its debts.
ENB-PR-P has a better Debt to FCF ratio (13.61) than 62.19% of its industry peers.
ENB-PR-P has a Debt/Equity ratio of 1.34. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.34, ENB-PR-P is doing worse than 75.12% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.34
Debt/FCF 13.61
Altman-Z 0.43
ROIC/WACC0.58
WACC6.19%
ENB-PR-P.CA Yearly LT Debt VS Equity VS FCFENB-PR-P.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20B 40B 60B

2.3 Liquidity

ENB-PR-P has a Current Ratio of 0.62. This is a bad value and indicates that ENB-PR-P is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of ENB-PR-P (0.62) is worse than 72.64% of its industry peers.
ENB-PR-P has a Quick Ratio of 0.62. This is a bad value and indicates that ENB-PR-P is not financially healthy enough and could expect problems in meeting its short term obligations.
ENB-PR-P has a worse Quick ratio (0.54) than 67.16% of its industry peers.
Industry RankSector Rank
Current Ratio 0.62
Quick Ratio 0.54
ENB-PR-P.CA Yearly Current Assets VS Current LiabilitesENB-PR-P.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B 20B

3

3. Growth

3.1 Past

ENB-PR-P shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -3.24%.
The Earnings Per Share has been growing slightly by 0.88% on average over the past years.
ENB-PR-P shows a small growth in Revenue. In the last year, the Revenue has grown by 6.07%.
Measured over the past years, ENB-PR-P shows a decrease in Revenue. The Revenue has been decreasing by -1.21% on average per year.
EPS 1Y (TTM)-3.24%
EPS 3Y4.71%
EPS 5Y0.88%
EPS Q2Q%-11.29%
Revenue 1Y (TTM)6.07%
Revenue growth 3Y3.75%
Revenue growth 5Y-1.21%
Sales Q2Q%51.18%

3.2 Future

ENB-PR-P is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.80% yearly.
The Revenue is expected to grow by 1.98% on average over the next years.
EPS Next Y-0.45%
EPS Next 2Y4.93%
EPS Next 3Y4.79%
EPS Next 5Y5.8%
Revenue Next Year3.29%
Revenue Next 2Y-9.96%
Revenue Next 3Y-4.42%
Revenue Next 5Y1.98%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
ENB-PR-P.CA Yearly Revenue VS EstimatesENB-PR-P.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B 40B 50B
ENB-PR-P.CA Yearly EPS VS EstimatesENB-PR-P.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

7

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 7.63 indicates a rather cheap valuation of ENB-PR-P.
Based on the Price/Earnings ratio, ENB-PR-P is valued a bit cheaper than 75.12% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.12. ENB-PR-P is valued rather cheaply when compared to this.
ENB-PR-P is valuated cheaply with a Price/Forward Earnings ratio of 6.68.
Based on the Price/Forward Earnings ratio, ENB-PR-P is valued a bit cheaper than the industry average as 73.63% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 94.77. ENB-PR-P is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 7.63
Fwd PE 6.68
ENB-PR-P.CA Price Earnings VS Forward Price EarningsENB-PR-P.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

ENB-PR-P's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, ENB-PR-P is valued cheaply inside the industry as 81.59% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 6.39
EV/EBITDA 9.45
ENB-PR-P.CA Per share dataENB-PR-P.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The decent profitability rating of ENB-PR-P may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)8.64
EPS Next 2Y4.93%
EPS Next 3Y4.79%

7

5. Dividend

5.1 Amount

ENB-PR-P has a Yearly Dividend Yield of 5.85%, which is a nice return.
Compared to an average industry Dividend Yield of 6.59, ENB-PR-P pays a better dividend. On top of this ENB-PR-P pays more dividend than 84.58% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.29, ENB-PR-P pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.85%

5.2 History

The dividend of ENB-PR-P is nicely growing with an annual growth rate of 10.75%!
ENB-PR-P has been paying a dividend for at least 10 years, so it has a reliable track record.
ENB-PR-P has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)10.75%
Div Incr Years1
Div Non Decr Years12
ENB-PR-P.CA Yearly Dividends per shareENB-PR-P.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

ENB-PR-P pays out 129.64% of its income as dividend. This is not a sustainable payout ratio.
ENB-PR-P's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP129.64%
EPS Next 2Y4.93%
EPS Next 3Y4.79%
ENB-PR-P.CA Yearly Income VS Free CF VS DividendENB-PR-P.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B -2B 4B 6B 8B
ENB-PR-P.CA Dividend Payout.ENB-PR-P.CA Dividend Payout, showing the Payout Ratio.ENB-PR-P.CA Dividend Payout.PayoutRetained Earnings

ENBRIDGE INC - ENBCN 5.918 PERP

TSX:ENB-PR-P (2/7/2025, 7:00:00 PM)

20.53

-0.05 (-0.24%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)11-01 2024-11-01/bmo
Earnings (Next)02-14 2025-02-14/amc
Inst Owners54.84%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap44.72B
Analysts71.54
Price Target20.45 (-0.39%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.85%
Yearly Dividend3.45
Dividend Growth(5Y)10.75%
DP129.64%
Div Incr Years1
Div Non Decr Years12
Ex-Date02-14 2025-02-14 (0.36988)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-5.86%
Min EPS beat(2)-9.75%
Max EPS beat(2)-1.96%
EPS beat(4)1
Avg EPS beat(4)-1.75%
Min EPS beat(4)-9.75%
Max EPS beat(4)11.79%
EPS beat(8)2
Avg EPS beat(8)-2.66%
EPS beat(12)3
Avg EPS beat(12)-3.06%
EPS beat(16)6
Avg EPS beat(16)-0.74%
Revenue beat(2)2
Avg Revenue beat(2)107.08%
Min Revenue beat(2)96.43%
Max Revenue beat(2)117.73%
Revenue beat(4)3
Avg Revenue beat(4)51.72%
Min Revenue beat(4)-15.94%
Max Revenue beat(4)117.73%
Revenue beat(8)3
Avg Revenue beat(8)18.94%
Revenue beat(12)6
Avg Revenue beat(12)13.79%
Revenue beat(16)8
Avg Revenue beat(16)11.98%
PT rev (1m)-3.42%
PT rev (3m)4.73%
EPS NQ rev (1m)0.62%
EPS NQ rev (3m)-1.5%
EPS NY rev (1m)-1.11%
EPS NY rev (3m)-2.91%
Revenue NQ rev (1m)0.57%
Revenue NQ rev (3m)-40.45%
Revenue NY rev (1m)0.93%
Revenue NY rev (3m)19.17%
Valuation
Industry RankSector Rank
PE 7.63
Fwd PE 6.68
P/S 0.92
P/FCF 6.39
P/OCF 3.51
P/B 0.68
P/tB 1.69
EV/EBITDA 9.45
EPS(TTM)2.69
EY13.1%
EPS(NY)3.07
Fwd EY14.96%
FCF(TTM)3.21
FCFY15.66%
OCF(TTM)5.85
OCFY28.51%
SpS22.29
BVpS30.2
TBVpS12.18
PEG (NY)N/A
PEG (5Y)8.64
Profitability
Industry RankSector Rank
ROA 3.05%
ROE 9.55%
ROCE 5.13%
ROIC 3.61%
ROICexc 3.65%
ROICexgc 4.63%
OM 19.72%
PM (TTM) 12.95%
GM 48.94%
FCFM 14.42%
ROA(3y)2.71%
ROA(5y)2.65%
ROE(3y)7.8%
ROE(5y)7.26%
ROIC(3y)3.72%
ROIC(5y)3.76%
ROICexc(3y)3.78%
ROICexc(5y)3.8%
ROICexgc(3y)4.91%
ROICexgc(5y)4.96%
ROCE(3y)5.3%
ROCE(5y)5.35%
ROICexcg growth 3Y1.83%
ROICexcg growth 5Y4.01%
ROICexc growth 3Y2.35%
ROICexc growth 5Y4.46%
OM growth 3Y0.93%
OM growth 5Y6.39%
PM growth 3Y20.57%
PM growth 5Y19.79%
GM growth 3Y2.95%
GM growth 5Y6.79%
F-Score5
Asset Turnover0.24
Health
Industry RankSector Rank
Debt/Equity 1.34
Debt/FCF 13.61
Debt/EBITDA 6.08
Cap/Depr 116.17%
Cap/Sales 11.84%
Interest Coverage 250
Cash Conversion 87.77%
Profit Quality 111.37%
Current Ratio 0.62
Quick Ratio 0.54
Altman-Z 0.43
F-Score5
WACC6.19%
ROIC/WACC0.58
Cap/Depr(3y)142.49%
Cap/Depr(5y)149.35%
Cap/Sales(3y)12.47%
Cap/Sales(5y)12.63%
Profit Quality(3y)142.42%
Profit Quality(5y)127.27%
High Growth Momentum
Growth
EPS 1Y (TTM)-3.24%
EPS 3Y4.71%
EPS 5Y0.88%
EPS Q2Q%-11.29%
EPS Next Y-0.45%
EPS Next 2Y4.93%
EPS Next 3Y4.79%
EPS Next 5Y5.8%
Revenue 1Y (TTM)6.07%
Revenue growth 3Y3.75%
Revenue growth 5Y-1.21%
Sales Q2Q%51.18%
Revenue Next Year3.29%
Revenue Next 2Y-9.96%
Revenue Next 3Y-4.42%
Revenue Next 5Y1.98%
EBIT growth 1Y6.29%
EBIT growth 3Y4.71%
EBIT growth 5Y5.11%
EBIT Next Year71%
EBIT Next 3Y23.69%
EBIT Next 5Y16.27%
FCF growth 1Y68.66%
FCF growth 3Y30.86%
FCF growth 5Y24.19%
OCF growth 1Y34.11%
OCF growth 3Y13.23%
OCF growth 5Y6.22%