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Enbridge ENB Gas Transmission — Equity Method Investments

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Other financials

Income statement

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Revenue$22.4B+20.8%
Operating income$3.2B-12.2%
Net income$1.4B-38.7%
EPS (diluted)$0.76-26.2%

Balance sheet

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Cash & equivalents$1.6B-21.7%
Total debt$1.5B-98.5%
Total equity$65.0B-4.8%
Total assets$228.20B+3.7%

Cash flow

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Operating cash flow$4.1B+27.0%
CapEx$2.4B+41.6%
Free cash flow-$97.0M-107%

Valuation

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Market cap$118.92B+17.0%
Enterprise value$118.78B-38.7%
P/E19.8×+4.4×

Profitability

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Operating margin15.2%-2.2pp
Net margin10%-0.3pp
FCF margin2.7%-5.9pp

Returns & leverage

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Return on equity10.4%+0.9pp
Debt / equity-1.4×
Current ratio0.8×+0.1×

Where this comes from

Reported directly by Enbridge in its filing.

Tagged under the XBRL concept us-gaap:EquityMethodInvestments.

The source filing: Enbridge’s 10-K, filed February 13, 2026.

Filed
Feb 13, 2026, 7:05 AM EST
Fiscal year
FY2025
Accession
0001193125-26-049810
December 31,Ownership Interest20252024
Steckman Ridge, LP50.0%104101
Vector Pipeline60.0%179193
Whistler Parent JV619.0%9491,102
Woodfibre LNG Limited Partnership30.0%2,0811,275
Offshore - various joint ventures22.0%–74.3%294260
Other21.3%–24.8%1849
Gas Distribution and Storage
Other17.0%–50.0%6667

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Enbridge's gas transmission — equity method investments?
Enbridge (ENB) reported gas transmission — equity method investments of $2.08B in Q4 2025.
What does gas transmission — equity method investments mean?
The carrying value of investments in entities where the segment exercises significant influence but does not have full control. This balance reflects the segment's share of the net assets of these joint ventures. It is a key component of the segment's total capital employed.

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