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Enbridge ENB Renewable Power Generation — Goodwill

Other segment segments

Gas Distributionand Storage
$8.72B-1.9%
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$8.64B-4.2%

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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:Goodwill.

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
Line itemLiquids PipelinesGas TransmissionGas Distributionand StorageRenewable Power GenerationConsolidated
(millions of Canadian dollars)
Balance at January 1, 20248,34417,7275,39738031,848
Dispositions3(1,026)(1,026)
Foreign exchange and other6721,354204342,264
Acquisition42233,2913,514
Balance at December 31, 20241,29,01618,2788,89241436,600
Foreign exchange and other(379)(747)(171)(19)(1,316)
Balance at December 31, 20251,28,63717,5318,72139535,284

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Enbridge's renewable power generation — goodwill?
Enbridge (ENB) reported renewable power generation — goodwill of $395M in Q4 2025.
How has Enbridge's renewable power generation — goodwill changed year-over-year?
Enbridge's renewable power generation — goodwill decreased by 4.6% year-over-year, from $414M to $395M.
What does renewable power generation — goodwill mean?
Represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations within the renewable power generation segment. It reflects the premium paid for expected synergies, market position, and future growth potential of acquired renewable assets. This balance is subject to annual impairment testing.

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