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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

20.57  +0.07 (+0.34%)

Fundamental Rating

5

Taking everything into account, ENB-PR-P scores 5 out of 10 in our fundamental rating. ENB-PR-P was compared to 504 industry peers in the Oil, Gas & Consumable Fuels industry. While ENB-PR-P belongs to the best of the industry regarding profitability, there are concerns on its financial health. ENB-PR-P scores decently on growth, while it is valued quite cheap. This could make an interesting combination. ENB-PR-P also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

ENB-PR-P had positive earnings in the past year.
ENB-PR-P had a positive operating cash flow in the past year.
ENB-PR-P had positive earnings in each of the past 5 years.
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 2024 0 5B 10B

1.2 Ratios

ENB-PR-P's Return On Assets of 2.68% is fine compared to the rest of the industry. ENB-PR-P outperforms 62.68% of its industry peers.
ENB-PR-P has a better Return On Equity (8.64%) than 67.94% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.07%, ENB-PR-P is in the better half of the industry, outperforming 65.07% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for ENB-PR-P is significantly below the industry average of 13.67%.
The 3 year average ROIC (3.99%) for ENB-PR-P is below the current ROIC(4.07%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.68%
ROE 8.64%
ROIC 4.07%
ROA(3y)2.33%
ROA(5y)2.46%
ROE(3y)7.16%
ROE(5y)7.18%
ROIC(3y)3.99%
ROIC(5y)4.01%
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 2024 0 2 4 6 8

1.3 Margins

ENB-PR-P has a better Profit Margin (9.67%) than 68.42% of its industry peers.
ENB-PR-P's Profit Margin has declined in the last couple of years.
ENB-PR-P's Operating Margin of 17.53% is fine compared to the rest of the industry. ENB-PR-P outperforms 66.03% of its industry peers.
ENB-PR-P's Operating Margin has improved in the last couple of years.
The Gross Margin of ENB-PR-P (42.37%) is better than 60.77% of its industry peers.
In the last couple of years the Gross Margin of ENB-PR-P has grown nicely.
Industry RankSector Rank
OM 17.53%
PM (TTM) 9.67%
GM 42.37%
OM growth 3Y2.88%
OM growth 5Y2.35%
PM growth 3Y-8.55%
PM growth 5Y-2.33%
GM growth 3Y5.15%
GM growth 5Y4.19%
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 2024 0 10 20 30 40 50

2

2. Health

2.1 Basic Checks

ENB-PR-P has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for ENB-PR-P has been increased compared to 1 year ago.
The number of shares outstanding for ENB-PR-P has been increased compared to 5 years ago.
Compared to 1 year ago, ENB-PR-P has a worse debt to assets ratio.
ENB-PR-P.CA Yearly Shares OutstandingENB-PR-P.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2024 50B 100B 150B 200B

2.2 Solvency

Based on the Altman-Z score of 0.47, we must say that ENB-PR-P is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.47, ENB-PR-P perfoms like the industry average, outperforming 47.37% of the companies in the same industry.
ENB-PR-P has a debt to FCF ratio of 20.56. This is a negative value and a sign of low solvency as ENB-PR-P would need 20.56 years to pay back of all of its debts.
ENB-PR-P has a Debt to FCF ratio of 20.56. This is in the better half of the industry: ENB-PR-P outperforms 62.20% of its industry peers.
A Debt/Equity ratio of 1.44 is on the high side and indicates that ENB-PR-P has dependencies on debt financing.
With a Debt to Equity ratio value of 1.44, ENB-PR-P is not doing good in the industry: 70.33% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF 20.56
Altman-Z 0.47
ROIC/WACC0.57
WACC7.18%
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 2024 0 20B 40B 60B 80B

2.3 Liquidity

ENB-PR-P has a Current Ratio of 0.73. 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.
With a Current ratio value of 0.73, ENB-PR-P perfoms like the industry average, outperforming 50.24% of the companies in the same industry.
A Quick Ratio of 0.66 indicates that ENB-PR-P may have some problems paying its short term obligations.
ENB-PR-P has a Quick ratio (0.66) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.73
Quick Ratio 0.66
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 2024 5B 10B 15B 20B

5

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 1.75% over the past year.
Measured over the past 5 years, ENB-PR-P shows a small growth in Earnings Per Share. The EPS has been growing by 1.11% on average per year.
ENB-PR-P shows a strong growth in Revenue. In the last year, the Revenue has grown by 43.00%.
Measured over the past years, ENB-PR-P shows a small growth in Revenue. The Revenue has been growing by 1.32% on average per year.
EPS 1Y (TTM)1.75%
EPS 3Y0.6%
EPS 5Y1.11%
EPS Q2Q%11.96%
Revenue 1Y (TTM)43%
Revenue growth 3Y4.34%
Revenue growth 5Y1.32%
Sales Q2Q%67.62%

3.2 Future

ENB-PR-P is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.26% yearly.
ENB-PR-P is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.28% yearly.
EPS Next Y8.32%
EPS Next 2Y7.73%
EPS Next 3Y7.74%
EPS Next 5Y8.26%
Revenue Next Year14.97%
Revenue Next 2Y9.15%
Revenue Next 3Y7.36%
Revenue Next 5Y0.28%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 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

8

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 7.07 indicates a rather cheap valuation of ENB-PR-P.
Compared to the rest of the industry, the Price/Earnings ratio of ENB-PR-P indicates a rather cheap valuation: ENB-PR-P is cheaper than 82.30% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of ENB-PR-P to the average of the S&P500 Index (26.43), we can say ENB-PR-P is valued rather cheaply.
With a Price/Forward Earnings ratio of 6.33, the valuation of ENB-PR-P can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ENB-PR-P indicates a rather cheap valuation: ENB-PR-P is cheaper than 81.34% of the companies listed in the same industry.
ENB-PR-P is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.17, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 7.07
Fwd PE 6.33
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 5 10 15 20 25

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as ENB-PR-P.
ENB-PR-P's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. ENB-PR-P is cheaper than 78.47% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.94
EV/EBITDA 9.03
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

ENB-PR-P's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of ENB-PR-P may justify a higher PE ratio.
PEG (NY)0.85
PEG (5Y)6.38
EPS Next 2Y7.73%
EPS Next 3Y7.74%

8

5. Dividend

5.1 Amount

ENB-PR-P has a Yearly Dividend Yield of 5.95%, which is a nice return.
ENB-PR-P's Dividend Yield is rather good when compared to the industry average which is at 2.38. ENB-PR-P pays more dividend than 86.60% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, ENB-PR-P pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.95%

5.2 History

The dividend of ENB-PR-P has a limited annual growth rate of 4.10%.
ENB-PR-P has paid a dividend for at least 10 years, which is a reliable track record.
ENB-PR-P has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)4.1%
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 142.15% of its income as dividend. This is not a sustainable payout ratio.
The dividend of ENB-PR-P is growing, but earnings are growing more, so the dividend growth is sustainable.
DP142.15%
EPS Next 2Y7.73%
EPS Next 3Y7.74%
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 2024 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 (6/4/2025, 7:00:00 PM)

20.57

+0.07 (+0.34%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-09 2025-05-09/bmo
Earnings (Next)07-31 2025-07-31/bmo
Inst Owners54.95%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap44.84B
Analysts72.14
Price Target20.03 (-2.63%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.95%
Yearly Dividend3.84
Dividend Growth(5Y)4.1%
DP142.15%
Div Incr Years1
Div Non Decr Years12
Ex-Date05-15 2025-05-15 (0.36988)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.86%
Min EPS beat(2)-0.67%
Max EPS beat(2)6.39%
EPS beat(4)1
Avg EPS beat(4)-1.5%
Min EPS beat(4)-9.75%
Max EPS beat(4)6.39%
EPS beat(8)3
Avg EPS beat(8)-0.03%
EPS beat(12)4
Avg EPS beat(12)-1.51%
EPS beat(16)6
Avg EPS beat(16)-0.67%
Revenue beat(2)2
Avg Revenue beat(2)68.68%
Min Revenue beat(2)28.78%
Max Revenue beat(2)108.58%
Revenue beat(4)4
Avg Revenue beat(4)87.88%
Min Revenue beat(4)28.78%
Max Revenue beat(4)117.73%
Revenue beat(8)5
Avg Revenue beat(8)39.78%
Revenue beat(12)6
Avg Revenue beat(12)23.62%
Revenue beat(16)10
Avg Revenue beat(16)21.8%
PT rev (1m)2%
PT rev (3m)-8.06%
EPS NQ rev (1m)-11.19%
EPS NQ rev (3m)-15.32%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.75%
Revenue NQ rev (1m)-13.19%
Revenue NQ rev (3m)58.96%
Revenue NY rev (1m)0.11%
Revenue NY rev (3m)31.02%
Valuation
Industry RankSector Rank
PE 7.07
Fwd PE 6.33
P/S 0.74
P/FCF 8.94
P/OCF 3.59
P/B 0.66
P/tB 1.65
EV/EBITDA 9.03
EPS(TTM)2.91
EY14.15%
EPS(NY)3.25
Fwd EY15.8%
FCF(TTM)2.3
FCFY11.19%
OCF(TTM)5.73
OCFY27.88%
SpS27.95
BVpS31.31
TBVpS12.45
PEG (NY)0.85
PEG (5Y)6.38
Profitability
Industry RankSector Rank
ROA 2.68%
ROE 8.64%
ROCE 5.31%
ROIC 4.07%
ROICexc 4.11%
ROICexgc 5.17%
OM 17.53%
PM (TTM) 9.67%
GM 42.37%
FCFM 8.23%
ROA(3y)2.33%
ROA(5y)2.46%
ROE(3y)7.16%
ROE(5y)7.18%
ROIC(3y)3.99%
ROIC(5y)4.01%
ROICexc(3y)4.07%
ROICexc(5y)4.06%
ROICexgc(3y)5.22%
ROICexgc(5y)5.26%
ROCE(3y)5.22%
ROCE(5y)5.24%
ROICexcg growth 3Y-2.31%
ROICexcg growth 5Y-2.5%
ROICexc growth 3Y-1.04%
ROICexc growth 5Y-1.82%
OM growth 3Y2.88%
OM growth 5Y2.35%
PM growth 3Y-8.55%
PM growth 5Y-2.33%
GM growth 3Y5.15%
GM growth 5Y4.19%
F-Score5
Asset Turnover0.28
Health
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF 20.56
Debt/EBITDA 6.1
Cap/Depr 139.09%
Cap/Sales 12.28%
Interest Coverage 250
Cash Conversion 77.81%
Profit Quality 85.09%
Current Ratio 0.73
Quick Ratio 0.66
Altman-Z 0.47
F-Score5
WACC7.18%
ROIC/WACC0.57
Cap/Depr(3y)117.17%
Cap/Depr(5y)142.6%
Cap/Sales(3y)11.06%
Cap/Sales(5y)12.95%
Profit Quality(3y)173.15%
Profit Quality(5y)135.79%
High Growth Momentum
Growth
EPS 1Y (TTM)1.75%
EPS 3Y0.6%
EPS 5Y1.11%
EPS Q2Q%11.96%
EPS Next Y8.32%
EPS Next 2Y7.73%
EPS Next 3Y7.74%
EPS Next 5Y8.26%
Revenue 1Y (TTM)43%
Revenue growth 3Y4.34%
Revenue growth 5Y1.32%
Sales Q2Q%67.62%
Revenue Next Year14.97%
Revenue Next 2Y9.15%
Revenue Next 3Y7.36%
Revenue Next 5Y0.28%
EBIT growth 1Y17.72%
EBIT growth 3Y7.35%
EBIT growth 5Y3.7%
EBIT Next Year75.25%
EBIT Next 3Y24.1%
EBIT Next 5Y16.03%
FCF growth 1Y-30.74%
FCF growth 3Y69.56%
FCF growth 5Y8.88%
OCF growth 1Y2.84%
OCF growth 3Y10.83%
OCF growth 5Y6.04%