Investing
CapEx
Enbridge CapEx increased by 30.5% to $3.03B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 19.0%, from $2.55B to $3.03B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 3.5% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
cf_capital_expendituresHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.40B | $2.01B | $2.34B | $1.05B | $954.00M | $1.20B | $1.44B | $1.13B | $964.00M | $1.19B | $1.37B | $1.19B | $1.35B | $1.63B | $2.55B | $1.72B | $1.90B | $2.32B | $3.03B |
| QoQ Change | — | +43.3% | +16.5% | -55.3% | -9.0% | +26.0% | +20.0% | -21.8% | -14.6% | +23.5% | +15.0% | -13.5% | +13.8% | +21.1% | +56.0% | -32.3% | +10.3% | +22.2% | +30.5% |
| YoY Change | — | — | — | — | -32.1% | -40.3% | -38.4% | +7.7% | +1.0% | -0.9% | -5.1% | +5.0% | +39.8% | +37.0% | +85.8% | +45.4% | +40.9% | +42.2% | +19.0% |
Range$954.00M – $3.03B
CAGR+18.6%
Avg YoY Growth+13.8%
Median YoY Growth+7.7%
Current Streak3 quarters growth
CapEx at Other Companies
Frequently Asked Questions
- What is Enbridge's capex?
- Enbridge (ENB) reported capex of $3.03B in Q4 2025.
- How has Enbridge's capex changed year-over-year?
- Enbridge's capex increased by 19.0% year-over-year, from $2.55B to $3.03B.
- What is the long-term trend for Enbridge's capex?
- Over 4 years (2021 to 2025), Enbridge's capex has grown at a 3.5% compound annual growth rate (CAGR), from $7.82B to $8.97B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.