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ENBRIDGE INC（ENB）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是ENBRIDGE INC的1.1倍（$6.0B vs $5.7B）。ENBRIDGE INC净利率更高（26.2% vs 10.8%，领先15.4%）。ENBRIDGE INC同比增速更快（5.3% vs 1.3%）。ENBRIDGE INC自由现金流更多（$2.4B vs $2.0B）。过去两年ENBRIDGE INC的营收复合增速更高（7.6% vs -1.8%）
加拿大恩布里奇公司（Enbridge Inc.）是总部位于阿尔伯塔省卡尔加里的跨国能源管道企业，在加拿大、美国运营管网输送原油、天然气及天然气液，同时布局可再生能源业务。其管网是北美最长、全球规模最大的原油出口管网，拥有近2.9万公里原油管道及超3.83万公里天然气管道。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
ENB vs MMM — 直观对比
营收规模更大
MMM
是对方的1.1倍
$5.7B
营收增速更快
ENB
高出4.0%
1.3%
净利率更高
ENB
高出15.4%
10.8%
自由现金流更多
ENB
多$380.8M
$2.0B
两年增速更快
ENB
近两年复合增速
-1.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $6.0B |
| 净利润 | $1.5B | $653.0M |
| 毛利率 | — | 40.7% |
| 营业利润率 | 34.7% | 23.2% |
| 净利率 | 26.2% | 10.8% |
| 营收同比 | 5.3% | 1.3% |
| 净利润同比 | 246.2% | -41.5% |
| 每股收益（稀释后） | — | $1.23 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ENBMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $5.7B | $6.1B | ||
| Q3 25 | $4.5B | $6.5B | ||
| Q2 25 | $4.8B | $6.3B | ||
| Q1 25 | $6.4B | $6.0B | ||
| Q4 24 | $5.4B | $6.0B | ||
| Q3 24 | $4.2B | $6.3B | ||
| Q2 24 | $4.3B | $6.3B |
净利润ENBMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $1.5B | $577.0M | ||
| Q3 25 | $575.2M | $834.0M | ||
| Q2 25 | $1.7B | $723.0M | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $434.4M | $728.0M | ||
| Q3 24 | $1.0B | $1.4B | ||
| Q2 24 | $1.4B | $1.1B |
毛利率ENBMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | — | 33.6% | ||
| Q3 25 | — | 41.8% | ||
| Q2 25 | — | 42.5% | ||
| Q1 25 | — | 41.6% | ||
| Q4 24 | — | 51.7% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | 7.5% | 42.9% |
营业利润率ENBMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 34.7% | 13.0% | ||
| Q3 25 | 36.9% | 22.2% | ||
| Q2 25 | 35.1% | 18.0% | ||
| Q1 25 | 41.7% | 20.9% | ||
| Q4 24 | 32.8% | 12.2% | ||
| Q3 24 | 38.7% | 20.9% | ||
| Q2 24 | 38.3% | 20.3% |
净利率ENBMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | 26.2% | 9.4% | ||
| Q3 25 | 12.8% | 12.8% | ||
| Q2 25 | 34.9% | 11.4% | ||
| Q1 25 | 26.8% | 18.7% | ||
| Q4 24 | 8.0% | 12.1% | ||
| Q3 24 | 24.3% | 21.8% | ||
| Q2 24 | 32.8% | 18.3% |
每股收益（稀释后）ENBMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | — | $1.07 | ||
| Q3 25 | — | $1.55 | ||
| Q2 25 | — | $1.34 | ||
| Q1 25 | — | $2.04 | ||
| Q4 24 | — | $1.33 | ||
| Q3 24 | — | $2.48 | ||
| Q2 24 | — | $2.07 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $798.6M | $3.7B |
| 总债务越低越好 | $72.2B | $10.9B |
| 股东权益账面价值 | $45.5B | $3.3B |
| 总资产 | $159.5B | $35.4B |
| 负债/权益比越低杠杆越低 | 1.59× | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资ENBMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $798.6M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $878.2M | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $2.6B | — |
总债务ENBMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | $72.2B | $12.6B | ||
| Q3 25 | $73.4B | $12.6B | ||
| Q2 25 | $70.8B | $13.1B | ||
| Q1 25 | $70.9B | $13.5B | ||
| Q4 24 | $68.2B | $13.0B | ||
| Q3 24 | $63.7B | $13.2B | ||
| Q2 24 | $62.2B | $13.1B |
股东权益ENBMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $45.5B | $4.7B | ||
| Q3 25 | $47.6B | $4.6B | ||
| Q2 25 | $47.8B | $4.3B | ||
| Q1 25 | $49.8B | $4.5B | ||
| Q4 24 | $48.1B | $3.8B | ||
| Q3 24 | $48.0B | $4.6B | ||
| Q2 24 | $49.1B | $3.9B |
总资产ENBMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $159.5B | $37.7B | ||
| Q3 25 | $158.4B | $37.6B | ||
| Q2 25 | $154.5B | $38.0B | ||
| Q1 25 | $160.6B | $40.0B | ||
| Q4 24 | $159.9B | $39.9B | ||
| Q3 24 | $150.2B | $40.9B | ||
| Q2 24 | $146.9B | $43.4B |
负债/权益比ENBMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | 1.59× | 2.68× | ||
| Q3 25 | 1.54× | 2.72× | ||
| Q2 25 | 1.48× | 3.06× | ||
| Q1 25 | 1.42× | 3.02× | ||
| Q4 24 | 1.42× | 3.40× | ||
| Q3 24 | 1.33× | 2.84× | ||
| Q2 24 | 1.27× | 3.34× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $9.0B | — |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $2.0B |
| 自由现金流率自由现金流/营收 | 42.0% | 33.6% |
| 资本支出强度资本支出/营收 | 114.3% | — |
| 现金转化率经营现金流/净利润 | 5.96× | — |
| 过去12个月自由现金流最近4个季度 | — | $3.7B |
8季度趋势，按日历期对齐
经营现金流ENBMMM
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $1.6B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $-954.0M | ||
| Q1 25 | $2.2B | $-79.0M | ||
| Q4 24 | $9.2B | $1.8B | ||
| Q3 24 | — | $-1.8B | ||
| Q2 24 | — | $1.0B |
自由现金流ENBMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $2.4B | $1.3B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $-1.2B | ||
| Q1 25 | $970.9M | $-315.0M | ||
| Q4 24 | $4.3B | $1.5B | ||
| Q3 24 | — | $-2.0B | ||
| Q2 24 | — | $752.0M |
自由现金流率ENBMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | 42.0% | 21.8% | ||
| Q3 25 | — | 23.6% | ||
| Q2 25 | — | -18.3% | ||
| Q1 25 | 15.1% | -5.3% | ||
| Q4 24 | 79.0% | 25.4% | ||
| Q3 24 | — | -32.3% | ||
| Q2 24 | — | 12.0% |
资本支出强度ENBMMM
| Q1 26 | — | — | ||
| Q4 25 | 114.3% | 4.0% | ||
| Q3 25 | — | 3.3% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | 19.6% | 4.0% | ||
| Q4 24 | 90.1% | 4.8% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 4.3% |
现金转化率ENBMMM
| Q1 26 | — | — | ||
| Q4 25 | 5.96× | 2.74× | ||
| Q3 25 | — | 2.11× | ||
| Q2 25 | — | -1.32× | ||
| Q1 25 | 1.29× | -0.07× | ||
| Q4 24 | 21.18× | 2.50× | ||
| Q3 24 | — | -1.30× | ||
| Q2 24 | — | 0.89× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ENB
暂无分部数据
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
