Enbridge Inc. (ENB.TO) stock analysis

In our weekly check, Enbridge Inc. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 6, red flags: 5.

About Enbridge Inc.

Enbridge Inc. is an Energy company (Oil & Gas Midstream) based in Canada, listed on TSX as ENB.TO.

What our checks show for ENB.TO

Red flags

• Net debt is 5.5x a year of EBITDA (debt/equity 1.72). That limits room in a downturn and raises refinancing risk.
• The net margin fell by 5.9 points over 5 years, to 7.3%: the company keeps less of each sale as profit.
• Analysts expect revenue to shrink about 10.5% a year.
• The dividend takes 135% of profit: little cushion if profit falls.
• Recovering from its deepest fall took about 5.3 years.

Warning signs

• Operating profit covers interest only 2.1 times: a weak year could make the payments hard.
• The gross margin fell by 2.1 points, to 28.2%: costs are rising faster than prices.
• The net margin is only 7.3%: little room if costs rise.
• Free cash flow is only 2.5% of revenue.
• The stock has fallen as much as 48% from a peak. Would you have held through that?
• Return on capital (ROCE) is only 6.5%.

Strengths

• Operating cash flow is 1.98x net profit: the profit arrives as real cash.
• Analysts expect the net margin to improve by 3.4 points from today's 7.3%.
• Revenue grew 22.2% a year over the last 3 years.
• Earnings per share grew 32.8% a year over the last 3 years.
• Net profit grew 33.2% a year over the last 3 years.
• A large company: market value $107 billion.

Next earnings report: 2026-11-06

Similar companies

WMB · EPD · KMI · TRP · TRGP · LNG

Questions

What grade does Enbridge Inc. (ENB.TO) have?

In our weekly check, Enbridge Inc. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 6, red flags: 5. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of ENB.TO stock?

This week's biggest flags for Enbridge Inc.: High debt, Margins falling, Weak revenue forecast. In total 11 of 25 checks show a warning or a red flag.

What does Enbridge Inc. do?

Enbridge Inc. is an Energy company (Oil & Gas Midstream) based in Canada, listed on TSX as ENB.TO.

When does Enbridge Inc. report earnings next?

The next earnings report is expected on 2026-11-06. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

Open the full analysis