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ENBRIDGE INC（ENB）与斯伦贝谢（SLB）财务数据对比。点击上方公司名可切换其他公司
斯伦贝谢的季度营收约是ENBRIDGE INC的1.5倍（$8.7B vs $5.7B），ENBRIDGE INC净利率更高（26.2% vs 8.6%，领先17.6%），ENBRIDGE INC同比增速更快（5.3% vs 2.7%），ENBRIDGE INC自由现金流更多（$2.4B vs $103.0M），过去两年ENBRIDGE INC的营收复合增速更高（7.6% vs -2.3%）
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。
SLB前身为斯伦贝谢，是全球知名的跨国油田服务企业。1926年创立于法国，现注册地为库拉索威廉斯塔德，在巴黎、休斯敦、伦敦、海牙四地设有核心行政办公室，截至2022年按营收计算是全球最大的海上钻井企业及海上钻井承包商。
ENB vs SLB — 直观对比
营收规模更大
SLB
是对方的1.5倍
$5.7B
营收增速更快
ENB
高出2.6%
2.7%
净利率更高
ENB
高出17.6%
8.6%
自由现金流更多
ENB
多$2.3B
$103.0M
两年增速更快
ENB
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $8.7B |
| 净利润 | $1.5B | $752.0M |
| 毛利率 | — | — |
| 营业利润率 | 34.7% | — |
| 净利率 | 26.2% | 8.6% |
| 营收同比 | 5.3% | 2.7% |
| 净利润同比 | 246.2% | -5.6% |
| 每股收益（稀释后） | — | $0.50 |
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ENBSLB
| Q1 26 | — | $8.7B | ||
| Q4 25 | $5.7B | $9.7B | ||
| Q3 25 | $4.5B | $8.9B | ||
| Q2 25 | $4.8B | $8.5B | ||
| Q1 25 | $6.4B | $8.5B | ||
| Q4 24 | $5.4B | $9.3B | ||
| Q3 24 | $4.2B | $9.2B | ||
| Q2 24 | $4.3B | $9.1B |
净利润ENBSLB
| Q1 26 | — | $752.0M | ||
| Q4 25 | $1.5B | $824.0M | ||
| Q3 25 | $575.2M | $739.0M | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.7B | $797.0M | ||
| Q4 24 | $434.4M | $1.1B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $1.4B | $1.1B |
毛利率ENBSLB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.5% | — |
营业利润率ENBSLB
| Q1 26 | — | — | ||
| Q4 25 | 34.7% | 9.7% | ||
| Q3 25 | 36.9% | 11.2% | ||
| Q2 25 | 35.1% | 15.0% | ||
| Q1 25 | 41.7% | 12.5% | ||
| Q4 24 | 32.8% | 14.9% | ||
| Q3 24 | 38.7% | 16.5% | ||
| Q2 24 | 38.3% | 15.5% |
净利率ENBSLB
| Q1 26 | — | 8.6% | ||
| Q4 25 | 26.2% | 8.5% | ||
| Q3 25 | 12.8% | 8.3% | ||
| Q2 25 | 34.9% | 11.9% | ||
| Q1 25 | 26.8% | 9.4% | ||
| Q4 24 | 8.0% | 11.8% | ||
| Q3 24 | 24.3% | 12.9% | ||
| Q2 24 | 32.8% | 12.2% |
每股收益（稀释后）ENBSLB
| Q1 26 | — | $0.50 | ||
| Q4 25 | — | $0.53 | ||
| Q3 25 | — | $0.50 | ||
| Q2 25 | — | $0.74 | ||
| Q1 25 | — | $0.58 | ||
| Q4 24 | — | $0.77 | ||
| Q3 24 | — | $0.83 | ||
| Q2 24 | — | $0.77 |
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 | $3.4B |
| 总债务越低越好 | $72.2B | $9.7B |
| 股东权益账面价值 | $45.5B | $27.4B |
| 总资产 | $159.5B | $19.3B |
| 负债/权益比越低杠杆越低 | 1.59× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资ENBSLB
| Q1 26 | — | $3.4B | ||
| Q4 25 | $798.6M | $1.2B | ||
| Q3 25 | $1.0B | $571.0M | ||
| Q2 25 | $878.2M | $511.0M | ||
| Q1 25 | $1.5B | $961.0M | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $2.6B | $1.1B |
总债务ENBSLB
| Q1 26 | — | $9.7B | ||
| Q4 25 | $72.2B | — | ||
| Q3 25 | $73.4B | — | ||
| Q2 25 | $70.8B | — | ||
| Q1 25 | $70.9B | — | ||
| Q4 24 | $68.2B | — | ||
| Q3 24 | $63.7B | — | ||
| Q2 24 | $62.2B | — |
股东权益ENBSLB
| Q1 26 | — | $27.4B | ||
| Q4 25 | $45.5B | $26.1B | ||
| Q3 25 | $47.6B | $25.6B | ||
| Q2 25 | $47.8B | $20.3B | ||
| Q1 25 | $49.8B | $19.5B | ||
| Q4 24 | $48.1B | $21.1B | ||
| Q3 24 | $48.0B | $21.5B | ||
| Q2 24 | $49.1B | $21.1B |
总资产ENBSLB
| Q1 26 | — | $19.3B | ||
| Q4 25 | $159.5B | $54.9B | ||
| Q3 25 | $158.4B | $55.1B | ||
| Q2 25 | $154.5B | $48.8B | ||
| Q1 25 | $160.6B | $49.0B | ||
| Q4 24 | $159.9B | $48.9B | ||
| Q3 24 | $150.2B | $49.8B | ||
| Q2 24 | $146.9B | $49.4B |
负债/权益比ENBSLB
| Q1 26 | — | 0.35× | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 1.42× | — | ||
| Q4 24 | 1.42× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.27× | — |
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 | $103.0M |
| 自由现金流率自由现金流/营收 | 42.0% | 1.2% |
| 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 | — | $4.6B |
8季度趋势，按日历期对齐
经营现金流ENBSLB
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $3.0B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | $2.2B | $660.0M | ||
| Q4 24 | $9.2B | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $1.4B |
自由现金流ENBSLB
| Q1 26 | — | $103.0M | ||
| Q4 25 | $2.4B | $2.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $771.0M | ||
| Q1 25 | $970.9M | $262.0M | ||
| Q4 24 | $4.3B | $1.8B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $973.0M |
自由现金流率ENBSLB
| Q1 26 | — | 1.2% | ||
| Q4 25 | 42.0% | 25.5% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 9.0% | ||
| Q1 25 | 15.1% | 3.1% | ||
| Q4 24 | 79.0% | 19.2% | ||
| Q3 24 | — | 21.7% | ||
| Q2 24 | — | 10.6% |
资本支出强度ENBSLB
| Q1 26 | — | — | ||
| Q4 25 | 114.3% | 5.3% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | 19.6% | 4.7% | ||
| Q4 24 | 90.1% | 6.6% | ||
| Q3 24 | — | 5.0% | ||
| Q2 24 | — | 5.1% |
现金转化率ENBSLB
| Q1 26 | — | — | ||
| Q4 25 | 5.96× | 3.65× | ||
| Q3 25 | — | 2.28× | ||
| Q2 25 | — | 1.13× | ||
| Q1 25 | 1.29× | 0.83× | ||
| Q4 24 | 21.18× | 2.18× | ||
| Q3 24 | — | 2.06× | ||
| Q2 24 | — | 1.29× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
