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Enbridge ENB Equity Method Investments

Discontinued — last reported Q4 '25

Equity Method Investments at other companies

Kinder Morgan logo
Kinder MorganKMI
$7.71B
HES
Hess MidstreamHESM
$80M-6.4%
DT Midstream logo
DT MidstreamDTM
$1.25B-0.6%
Energy Transfer logo
Energy TransferET
$3.64B+12.1%
Oneok logo
OneokOKE
$2.99B+24.1%
Kinetik Holdings logo
Kinetik HoldingsKNTK
$1.99B-5.7%

Segments

By segment

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Liquids Pipelines$0.90.0%
Gas Transmission$0.74+395%
Renewable Power Generation$0.510.0%
Gas Distributionand Storage$0.50.0%

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:LongTermInvestments.

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 31,20252024
Inventory (Note 10)1,6211,488
13,19513,163
Property, plant and equipment, net (Note 11)131,598131,104
Long-term investments (Note 13)21,26420,691
Restricted long-term investments and cash1,293998
Deferred amounts and other assets11,14911,034
Intangible assets, net (Note 14)3,9914,587
Goodwill (Note 15)35,28436,600

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Enbridge's equity method investments?
Enbridge (ENB) reported equity method investments of $21.26B in Q4 2025.
How has Enbridge's equity method investments changed year-over-year?
Enbridge's equity method investments increased by 2.8% year-over-year, from $20.69B to $21.26B.
What is the long-term trend for Enbridge's equity method investments?
Over 5 years (2020 to 2025), Enbridge's equity method investments has grown at a 9.0% compound annual growth rate (CAGR), from $13.82B to $21.26B.
What does equity method investments mean?
Investments in unconsolidated affiliates and joint ventures where the company has significant influence (typically 20-50% ownership), carried at proportional book value.

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