Question 1

What is Enbridge's P/FCF ratio?

Accepted Answer

Enbridge (ENB) P/FCF ratio is 77.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. 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 P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Enbridge?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Enbridge specifically, the relevant sector benchmark is the current sector median of 22.1×.

Question 5

Is Enbridge's P/FCF ratio high or low?

Accepted Answer

Enbridge's P/FCF ratio of 77.0× is above its own 5-year average of 29.6× and above the sector median of 22.1×. That places the current reading at the 98th 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 P/FCF ratio range?

Accepted Answer

In the available daily series, Enbridge (ENB) P/FCF ratio has ranged from a low of 10.0× in 2023 to a high of 2691.9× in 2003. The 5-year average is 29.6× and the 5-year median is 24.7×.

Question 7

What was Enbridge's P/FCF ratio in 2025?

Accepted Answer

Enbridge (ENB) P/FCF ratio at the end of 2025 was 44.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Enbridge's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). 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	$104B	$2.37B	44.0×	+23.6×	Dec 31, 2025
2024	$92.4B	$4.53B	20.4×	+9.3×	Dec 31, 2024
2023	$76.5B	$6.91B	11.1×	-6.2×	Dec 31, 2023
2022	$79.2B	$4.59B	17.2×	-47.5×	Dec 31, 2022
2021	$79.2B	$1.22B	64.7×	+43.8×	Dec 31, 2021
2020	$64.7B	$3.09B	20.9×	-7.8×	Dec 31, 2020
2019	$80.3B	$2.79B	28.8×	+3.3×	Dec 31, 2019
2018	$62.7B	$2.46B	25.5×	—	Dec 31, 2018
2017	$65.9B	-$1.78B	—	—	Dec 31, 2017
2016	$39B	-$37.8M	—	—	Dec 31, 2016
2015	$28.3B	-$2.16B	—	—	Dec 31, 2015
2014	$43.2B	-$7.4B	—	—	Dec 31, 2014
2013	$35.8B	-$4.93B	—	—	Dec 31, 2013
2012	$33.9B	-$2.7B	—	—	Dec 31, 2012
2011	$28.2B	$49.9M	564.9×	—	Dec 31, 2011
2010	$21.2B	-$546M	—	—	Dec 31, 2010
2009	$17B	-$1.23B	—	—	Dec 31, 2009
2008	$11.8B	-$2.02B	—	—	Dec 31, 2008
2007	$14.2B	-$940M	—	—	Dec 31, 2007
2006	$12.1B	$90.7M	133.3×	+66.0×	Dec 31, 2006
2005	$10.9B	$162M	67.3×	-3.8×	Dec 31, 2005
2004	$17.2B	$243M	71.1×	—	Dec 31, 2004
2003	$14.2B	-$7.8M	—	—	Dec 31, 2003
2002	$8.94B	$115M	77.9×	—	Dec 31, 2002


Phillips 66 (PSX)	615.5×
Targa Resources (TRGP)	205.8×
Williams Companies (WMB)	123.3×
Texas Pacific Land (TPL)	66.3×
Diamondback Energy (FANG)	35.1×
Enphase Energy (ENPH)	34.2×
Chevron (CVX)	30.6×
National Fuel Gas (NFG)	29.1×
Baker Hughes (BKR)	26.4×
ONEOK (OKE)	25.4×
EOG Resources (EOG)	18.9×
Energy Transfer LP (ET)	18.2×
Occidental Petroleum (OXY)	17.8×
SLB (SLB)	16.5×
Halliburton (HAL)	16.5×
Marathon Petroleum (MPC)	12.6×
Valero Energy (VLO)	12.4×
Devon Energy (DVN)	11.9×
ConocoPhillips (COP)	10.5×
APA (APA)	10.1×
Expand Energy (EXE)	9.2×

P/FCF Ratio for Enbridge (ENB) 2002-2026

P/FCF Ratio daily chart for Enbridge (ENB)

Historical P/FCF Ratio for Enbridge (ENB) from 2002 to 2025

About P/FCF Ratio at Enbridge (ENB)

Enbridge P/FCF Ratio by Year

Enbridge P/FCF Ratio 2025: 44.0×

Enbridge P/FCF Ratio 2024: 20.4×

Enbridge P/FCF Ratio 2023: 11.1×

Enbridge P/FCF Ratio 2022: 17.2×

Enbridge P/FCF Ratio 2021: 64.7×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Enbridge (ENB) Key Financials