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ENBRIDGE INC（ENB）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
ENBRIDGE INC的季度营收约是标普全球的1.3倍（$5.7B vs $4.4B），标普全球净利率更高（26.8% vs 26.2%，领先0.5%），标普全球同比增速更快（191.7% vs 5.3%），ENBRIDGE INC自由现金流更多（$2.4B vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% vs 7.6%）
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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
ENB vs VG — 直观对比
营收规模更大
ENB
是对方的1.3倍
$4.4B
营收增速更快
VG
高出186.3%
5.3%
净利率更高
VG
高出0.5%
26.2%
自由现金流更多
ENB
多$3.9B
$-1.5B
两年增速更快
VG
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.4B |
| 净利润 | $1.5B | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 34.7% | 38.7% |
| 净利率 | 26.2% | 26.8% |
| 营收同比 | 5.3% | 191.7% |
| 净利润同比 | 246.2% | 20.3% |
| 每股收益（稀释后） | — | $0.41 |
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ENBVG
| Q4 25 | $5.7B | $4.4B | ||
| Q3 25 | $4.5B | $3.3B | ||
| Q2 25 | $4.8B | $3.1B | ||
| Q1 25 | $6.4B | $2.9B | ||
| Q4 24 | $5.4B | $1.5B | ||
| Q3 24 | $4.2B | $926.0M | ||
| Q2 24 | $4.3B | $1.1B | ||
| Q1 24 | $4.9B | $1.4B |
净利润ENBVG
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $575.2M | $550.0M | ||
| Q2 25 | $1.7B | $475.0M | ||
| Q1 25 | $1.7B | $517.0M | ||
| Q4 24 | $434.4M | $990.0M | ||
| Q3 24 | $1.0B | $-294.0M | ||
| Q2 24 | $1.4B | $352.0M | ||
| Q1 24 | $1.1B | $698.0M |
毛利率ENBVG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 26.2% | — |
营业利润率ENBVG
| Q4 25 | 34.7% | 38.7% | ||
| Q3 25 | 36.9% | 39.7% | ||
| Q2 25 | 35.1% | 33.5% | ||
| Q1 25 | 41.7% | 37.3% | ||
| Q4 24 | 32.8% | 39.0% | ||
| Q3 24 | 38.7% | 20.4% | ||
| Q2 24 | 38.3% | 32.8% | ||
| Q1 24 | 40.0% | 43.6% |
净利率ENBVG
| Q4 25 | 26.2% | 26.8% | ||
| Q3 25 | 12.8% | 16.5% | ||
| Q2 25 | 34.9% | 15.3% | ||
| Q1 25 | 26.8% | 17.9% | ||
| Q4 24 | 8.0% | 65.0% | ||
| Q3 24 | 24.3% | -31.7% | ||
| Q2 24 | 32.8% | 31.8% | ||
| Q1 24 | 22.3% | 49.4% |
每股收益（稀释后）ENBVG
| Q4 25 | — | $0.41 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.14 | ||
| Q1 25 | — | $0.15 | ||
| Q4 24 | — | $0.35 | ||
| Q3 24 | — | $-0.15 | ||
| Q2 24 | — | $0.12 | ||
| Q1 24 | — | $0.25 |
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 | $2.4B |
| 总债务越低越好 | $72.2B | $34.2B |
| 股东权益账面价值 | $45.5B | $6.7B |
| 总资产 | $159.5B | $53.4B |
| 负债/权益比越低杠杆越低 | 1.59× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资ENBVG
| Q4 25 | $798.6M | $2.4B | ||
| Q3 25 | $1.0B | $1.9B | ||
| Q2 25 | $878.2M | $2.2B | ||
| Q1 25 | $1.5B | $3.6B | ||
| Q4 24 | $1.3B | $3.6B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $2.6B | — | ||
| Q1 24 | $886.2M | — |
总债务ENBVG
| Q4 25 | $72.2B | $34.2B | ||
| Q3 25 | $73.4B | $32.6B | ||
| Q2 25 | $70.8B | $30.0B | ||
| Q1 25 | $70.9B | $29.3B | ||
| Q4 24 | $68.2B | $29.3B | ||
| Q3 24 | $63.7B | — | ||
| Q2 24 | $62.2B | — | ||
| Q1 24 | $59.4B | — |
股东权益ENBVG
| Q4 25 | $45.5B | $6.7B | ||
| Q3 25 | $47.6B | $5.7B | ||
| Q2 25 | $47.8B | $5.3B | ||
| Q1 25 | $49.8B | $4.9B | ||
| Q4 24 | $48.1B | $2.9B | ||
| Q3 24 | $48.0B | — | ||
| Q2 24 | $49.1B | — | ||
| Q1 24 | $46.9B | — |
总资产ENBVG
| Q4 25 | $159.5B | $53.4B | ||
| Q3 25 | $158.4B | $50.1B | ||
| Q2 25 | $154.5B | $46.5B | ||
| Q1 25 | $160.6B | $45.1B | ||
| Q4 24 | $159.9B | $43.5B | ||
| Q3 24 | $150.2B | — | ||
| Q2 24 | $146.9B | — | ||
| Q1 24 | $139.2B | — |
负债/权益比ENBVG
| Q4 25 | 1.59× | 5.07× | ||
| Q3 25 | 1.54× | 5.73× | ||
| Q2 25 | 1.48× | 5.69× | ||
| Q1 25 | 1.42× | 6.01× | ||
| Q4 24 | 1.42× | 10.11× | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.27× | — | ||
| Q1 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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $-1.5B |
| 自由现金流率自由现金流/营收 | 42.0% | -34.1% |
| 资本支出强度资本支出/营收 | 114.3% | 81.6% |
| 现金转化率经营现金流/净利润 | 5.96× | 1.77× |
| 过去12个月自由现金流最近4个季度 | — | $-6.8B |
8季度趋势，按日历期对齐
经营现金流ENBVG
| Q4 25 | $9.0B | $2.1B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | $2.2B | $1.1B | ||
| Q4 24 | $9.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.3B | $638.0M |
自由现金流ENBVG
| Q4 25 | $2.4B | $-1.5B | ||
| Q3 25 | — | $-1.4B | ||
| Q2 25 | — | $-1.5B | ||
| Q1 25 | $970.9M | $-2.4B | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.4B | $-2.4B |
自由现金流率ENBVG
| Q4 25 | 42.0% | -34.1% | ||
| Q3 25 | — | -42.4% | ||
| Q2 25 | — | -49.1% | ||
| Q1 25 | 15.1% | -81.3% | ||
| Q4 24 | 79.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 29.0% | -167.3% |
资本支出强度ENBVG
| Q4 25 | 114.3% | 81.6% | ||
| Q3 25 | — | 98.9% | ||
| Q2 25 | — | 96.1% | ||
| Q1 25 | 19.6% | 119.8% | ||
| Q4 24 | 90.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 17.5% | 212.4% |
现金转化率ENBVG
| Q4 25 | 5.96× | 1.77× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | 1.29× | 2.15× | ||
| Q4 24 | 21.18× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.08× | 0.91× |
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
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
