ENB on NYSE

Enbridge

Canadian energy company

Enbridge Inc. is a Canadian pipeline and energy company headquartered in Calgary, Alberta, Canada.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

Dec 15, 1987Founded1

Compare with Suncor Energy, Imperial Oil or Cenovus Energy, or pick any stock.

  • TickerENB on NYSE1
  • Industrypetroleum industry1
  • HeadquartersCalgary1
  • Websitewww.enbridge.com
  • Legal formbusiness corporation1
  • Listed onNew York Stock Exchange (ENB), Toronto Stock Exchange (ENB)1
  • Incorporated inAlberta, Canada4
  • Business address200 425 - 1St Street Sw, Calgary, A0 T2P 3L84
  • Filer categoryLarge accelerated filer4

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Enbridge Tower
Photo: Kyle1278 at English Wikipedia, CC BY-SA 3.0, via Wikimedia Commons5

Enbridge Inc. is a Canadian pipeline and energy company headquartered in Calgary, Alberta, Canada. Enbridge owns and operates pipelines throughout Canada and the United States, transporting crude oil, natural gas, and natural gas liquids, and also generates renewable energy. Enbridge's pipeline system is the longest in North America and the largest oil export pipeline network in the world. Its crude oil system consists of 28,661 kilometres (17,809 miles) of pipelines. Its 38,300 kilometre (23,800 mile) natural gas pipeline system connects multiple Canadian provinces, several US states, and the Gulf of Mexico. The company was formed by Imperial Oil in 1949 as the Interprovincial Pipe Line Company Limited to transport Alberta oil to refineries. Over time, it has grown through acquisition of other existing pipeline companies and the expansion of their projects.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in CAD, the currency the company reports in.

Key numbers, fiscal 2025

37.4%Operating margin6
25.5%Net margin6
13.3%Revenue growth, 20256
12.0%Return on equity6
1.68×Debt to equity6
3.3B CADFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Commodity Sales Revenue brought in 42% of the revenue Enbridge broke down this way in fiscal 2025.

  1. Commodity Sales Revenue35.2B CAD642%up 30% from 2024
  2. Transportation And Other Services Revenues20.2B CAD624%up 3% from 2024
  3. Transportation Revenue17.8B CAD621%up 2% from 2024
  4. Gas Distribution Sales9.6B CAD611%up 42% from 2024
  5. Storage and Other Revenue1.5B CAD62%up 16% from 2024
  6. Electricity Revenue232.0M CAD60%up 23% from 2024
  7. Commodity Sales167.0M CAD60%up 6% from 2024
Products and services by year
Products and services202320242025
Commodity Sales Revenue19.0B CAD27.0B CAD35.2B CAD
Transportation And Other Services Revenues19.2B CAD19.7B CAD20.2B CAD
Transportation Revenue17.3B CAD17.5B CAD17.8B CAD
Gas Distribution Sales5.4B CAD6.7B CAD9.6B CAD
Storage and Other Revenue1.1B CAD1.3B CAD1.5B CAD
Electricity Revenue259.0M CAD189.0M CAD232.0M CAD
Commodity Sales17.0M CAD158.0M CAD167.0M CAD

Business segments

Liquids Pipelines brought in 42% of the revenue Enbridge broke down this way in fiscal 2025.

  1. Liquids Pipelines12.2B CAD642%up 0% from 2024
  2. Gas Distribution and Storage10.5B CAD636%up 40% from 2024
  3. Gas Transmission6.4B CAD622%up 7% from 2024
  4. Renewable Power Generation232.0M CAD61%up 23% from 2024
Business segments by year
Business segments202320242025
Liquids Pipelines12.1B CAD12.2B CAD12.2B CAD
Gas Distribution and Storage5.9B CAD7.5B CAD10.5B CAD
Gas Transmission5.8B CAD6.0B CAD6.4B CAD
Renewable Power Generation259.0M CAD189.0M CAD232.0M CAD

Regions

United States brought in 65% of the revenue Enbridge broke down this way in fiscal 2025.

  1. United States42.1B CAD665%up 34% from 2024
  2. Canada23.1B CAD635%up 5% from 2024
Regions by year
Regions202320242025
United States19.9B CAD31.5B CAD42.1B CAD
Canada23.8B CAD22.0B CAD23.1B CAD

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs50¢14.8B CAD
  • Interest17¢5.0B CAD
  • Income tax7¢2.0B CAD
  • Profit26¢7.5B CAD

Out of 29.3B CAD in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Capital spending52¢9.0B CAD
  • Dividends paid48¢8.2B CAD

Out of 12.3B CAD of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6

Financial statements

Revenue78910629.3B CAD in 2025+49% since 2019
010.0B CAD20.0B CAD30.0B CAD2019: 19.7B CAD19.7B CAD20192020: 18.8B CAD18.8B CAD2020−4%2021: 19.4B CAD19.4B CAD2021+3%2022: 23.9B CAD23.9B CAD2022+23%2023: 24.1B CAD24.1B CAD2023+1%2024: 25.9B CAD25.9B CAD2024+7%2025: 29.3B CAD29.3B CAD2025+13%
Operating income78910611.0B CAD in 2025+33% since 2019
05.0B CAD10.0B CAD15.0B CAD2019: 8.3B CAD8.3B CAD20192020: 8.0B CAD8.0B CAD2020−4%2021: 7.8B CAD7.8B CAD2021−2%2022: 5.2B CAD5.2B CAD2022−34%2023: 8.7B CAD8.7B CAD2023+67%2024: 9.6B CAD9.6B CAD2024+12%2025: 11.0B CAD11.0B CAD2025+14%
Net income7891067.5B CAD in 2025+31% since 2019
02.0B CAD4.0B CAD6.0B CAD8.0B CAD2019: 5.7B CAD5.7B CAD20192020: 3.4B CAD3.4B CAD2020−41%2021: 6.2B CAD6.2B CAD2021+84%2022: 3.0B CAD3.0B CAD2022−51%2023: 6.2B CAD6.2B CAD2023+106%2024: 5.4B CAD5.4B CAD2024−12%2025: 7.5B CAD7.5B CAD2025+38%

Every line of the income statement in the latest annual report, as filed.6

Period ending2025-12-312024-12-312023-12-31
Total operating revenues (Note 4)65.2B CAD53.5B CAD43.6B CAD
Operating and administrative10.0B CAD9.4B CAD8.6B CAD
Depreciation and amortization5.7B CAD5.2B CAD4.6B CAD
Impairment of long-lived assets570.0M CAD190.0M CAD419.0M CAD
Total operating expenses54.2B CAD43.8B CAD35.0B CAD
Operating income11.0B CAD9.6B CAD8.7B CAD
Income from equity investments (Note 13)2.2B CAD2.3B CAD1.8B CAD
Gain on disposition of equity investments (Note 13)0 CAD1.1B CAD0 CAD
Other income/(expense) (Note 27)1.6B CAD-1.3B CAD1.2B CAD
Interest expense (Note 17)-5.0B CAD-4.4B CAD-3.8B CAD
Earnings before income taxes9.8B CAD7.3B CAD7.9B CAD
Income tax expense (Note 24)-2.0B CAD-1.7B CAD-1.8B CAD
Earnings7.8B CAD5.6B CAD6.1B CAD
(Earnings)/loss attributable to noncontrolling interests and redeemable noncontrolling interest-298.0M CAD-190.0M CAD133.0M CAD
Earnings attributable to controlling interests7.5B CAD5.4B CAD6.2B CAD
Preference share dividends-419.0M CAD-388.0M CAD-352.0M CAD
Earnings attributable to common shareholders7.1B CAD5.1B CAD5.8B CAD
Earnings per common share attributable to common shareholders (Note 6)3.23 CAD2.34 CAD2.84 CAD
Diluted earnings per common share attributable to common shareholders (Note 6)3.22 CAD2.34 CAD2.84 CAD

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The story

Founded by Imperial Oil on Dec 15, 1987.1

Leadership

Who has led Enbridge, and when. Pick a name to see everywhere that person has worked.

Subsidiaries and ownership

Subsidiaries

  • Dominion Energy Ohio
  • East Ohio Gas Company
  • Enbridge Gas New Brunswick
  • Enbridge Pipelines

Also owns

From Wikidata.1

Acquisitions

  1. 2024Acquired Dominion Energy Ohio1
  2. 2024Acquired East Ohio Gas Company1

Former names

  • IPL ENERGY INCFeb 18, 1998 to Feb 16, 19994

Timeline

  1. Dec 15, 1987Founded Founded1

Recent filings

  1. Sep 23, 2026SD
  2. Sep 14, 20268-K
  3. Sep 10, 2026FWP FREE WRITING PROSPECTUS
  4. Sep 10, 2026424B5
  5. Sep 9, 20268-K
  6. Sep 9, 2026424B5
  7. Sep 9, 20268-K
  8. Sep 8, 20268-K
  9. Jul 31, 20268-K
  10. Jul 31, 202610-Q
  11. Jul 31, 2026S-8
  12. Jun 29, 202611-K
  13. Jun 11, 2026CB/A
  14. May 26, 2026CB
  15. May 26, 2026F-X

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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