Question 1

What is Enbridge's EV/EBITDA ratio?

Accepted Answer

Enbridge (ENB) EV/EBITDA ratio is 14.8× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Enbridge?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Enbridge specifically, the relevant sector benchmark is the current sector median of 10.1×.

Question 5

Is Enbridge's EV/EBITDA ratio high or low?

Accepted Answer

Enbridge's EV/EBITDA ratio of 14.8× is above its own 5-year average of 12.4× and above the sector median of 10.1×. That places the current reading at the 93th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Enbridge's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Enbridge (ENB) EV/EBITDA ratio has ranged from a low of 5.4× in 2009 to a high of 28.8× in 2017. The 5-year average is 12.4× and the 5-year median is 12.1×.

Question 7

What was Enbridge's EV/EBITDA ratio in 2025?

Accepted Answer

Enbridge (ENB) EV/EBITDA ratio at the end of 2025 was 14.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Enbridge's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$104.37B	$14.61B	14.3×	+1.1×	Dec 31, 2025
2024	$92.41B	$12.33B	13.1×	+2.1×	Dec 31, 2024
2023	$76.54B	$12.11B	11.0×	-3.8×	Dec 31, 2023
2022	$79.18B	$9.36B	14.8×	+2.6×	Dec 31, 2022
2021	$79.18B	$11.40B	12.2×	-2.5×	Dec 31, 2021
2020	$64.68B	$8.02B	14.7×	+3.1×	Dec 31, 2020
2019	$80.30B	$10.29B	11.6×	-2.1×	Dec 31, 2019
2018	$62.66B	$8.03B	13.7×	-15.2×	Dec 31, 2018
2017	$65.91B	$4.07B	28.8×	+15.0×	Dec 31, 2017
2016	$39.05B	$5.02B	13.8×	-6.6×	Dec 31, 2016
2015	$28.31B	$2.86B	20.4×	+3.7×	Dec 31, 2015
2014	$43.24B	$4.37B	16.7×	-4.4×	Dec 31, 2014
2013	$35.82B	$2.82B	21.1×	+3.7×	Dec 31, 2013
2012	$33.92B	$3.10B	17.5×	+6.0×	Dec 31, 2012
2011	$28.17B	$3.82B	11.4×	-1.6×	Dec 31, 2011
2010	$21.15B	$2.77B	13.1×	+2.5×	Dec 31, 2010
2009	$17.01B	$2.87B	10.5×	+4.3×	Dec 31, 2009
2008	$11.77B	$3.56B	6.2×	-8.9×	Dec 31, 2008
2007	$14.22B	$1.62B	15.2×	+1.7×	Dec 31, 2007
2006	$12.08B	$1.53B	13.5×	-0.2×	Dec 31, 2006
2005	$10.91B	$1.38B	13.7×	-5.6×	Dec 31, 2005
2004	$17.24B	$1.24B	19.3×	-1.5×	Dec 31, 2004
2003	$14.23B	$954.19M	20.8×	+0.2×	Dec 31, 2003
2002	$8.94B	$645.54M	20.6×	-0.0×	Dec 31, 2002
2001	$8.87B	$675.44M	20.7×	—	Dec 31, 2001


Sunrun (RUN)	23.1×
Enphase Energy (ENPH)	22.3×
Williams Companies (WMB)	16.7×
Kinder Morgan (KMI)	14.1×
Targa Resources (TRGP)	14.0×
Baker Hughes (BKR)	13.6×
Diamondback Energy (FANG)	12.9×
Exxon Mobil (XOM)	12.4×
SLB (SLB)	12.1×
ONEOK (OKE)	11.5×
Chevron (CVX)	11.1×
Halliburton (HAL)	10.1×
Energy Transfer LP (ET)	9.3×
Valero Energy (VLO)	8.7×
Marathon Petroleum (MPC)	8.4×
Phillips 66 (PSX)	8.3×
First Solar (FSLR)	8.2×
ConocoPhillips (COP)	8.0×
National Fuel Gas (NFG)	7.4×
Occidental Petroleum (OXY)	6.8×
EOG Resources (EOG)	6.7×
EQT (EQT)	6.1×
Devon Energy (DVN)	5.4×
Expand Energy (EXE)	4.1×
APA (APA)	3.4×

EV/EBITDA for Enbridge (ENB)

EV/EBITDA daily chart for Enbridge (ENB)

Historical EV/EBITDA for Enbridge (ENB) from 2001 to 2025

About EV/EBITDA at Enbridge (ENB)

Enbridge EV/EBITDA by Year

Enbridge EV/EBITDA 2025: 14.3×

Enbridge EV/EBITDA 2024: 13.1×

Enbridge EV/EBITDA 2023: 11.0×

Enbridge EV/EBITDA 2022: 14.8×

Enbridge EV/EBITDA 2021: 12.2×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Enbridge (ENB) Key Financials

EV/EBITDA daily chart for Enbridge (ENB)

Historical EV/EBITDA for Enbridge (ENB) from 2001 to 2025

About EV/EBITDA at Enbridge (ENB)

Enbridge EV/EBITDA by Year

Enbridge EV/EBITDA 2025: 14.3×

Enbridge EV/EBITDA 2024: 13.1×

Enbridge EV/EBITDA 2023: 11.0×

Enbridge EV/EBITDA 2022: 14.8×

Enbridge EV/EBITDA 2021: 12.2×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Enbridge's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Enbridge?

+Is Enbridge's EV/EBITDA ratio high or low?

+What is Enbridge's historical EV/EBITDA ratio range?

+What was Enbridge's EV/EBITDA ratio in 2025?

+Why does Enbridge's EV/EBITDA ratio change over time?

Enbridge (ENB) Key Financials