Enbridge Inc (ENB) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Enbridge Inc stock $36.14, price $49.46, that is 26.9% below the price, quality 39 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range $26.03 – $57.26 · fair‑value band $26.33 – $68.45 · the $49.46 price screens above the $36.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Enbridge Inc., together with its subsidiaries, operates as an energy infrastructure company. The company operates through four segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation.
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The Liquids Pipelines segment operates pipelines and related terminals to transport, store, and export various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
This segment also provides physical commodity marketing and logistical services, and crude oil marketing services. The Gas Transmission segment invests in natural gas pipelines and gathering and processing facilities in Canada and the United States.
The Gas Distribution and Storage segment is involved in natural gas utility operations serving residential, commercial, and industrial customers in Ontario, as well as natural gas distribution activities in Quebec.
The Renewable Power Generation segment operates wind, solar, geothermal, waste heat recovery, and transmission assets in North America. The company was formerly known as IPL Energy Inc. and changed its name to Enbridge Inc. in October 1998.
Enbridge Inc. was founded in 1949 and is headquartered in Calgary, Canada.
Stock analysis
Enbridge Inc (ENB) currently trades at $49.46, while our model-based Fair Value estimate is $36.14, 26.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of $88.11 per share, and 6 of the 23 models we run sit above the $49.46 price.
Bear case: the Asset-Based group reads lowest at $9.51, and 17 of the 23 models stay below the price. Data coverage for this calculation is high.
Scenario range: $26.33 (bear) to $68.45 (bull), the price of $49.46 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 39/100 (below-average quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Enbridge Inc reported revenue of $65.2B in FY2025 versus $47.1B in FY2021, a compound +8.5%/yr. Reported net income was $7.5B in FY2025, compounding +4.9%/yr from FY2021.
Key figures
Market cap $108B Large · P/E ratio 26.4 · P/S ratio 3.04 · EPS (TTM) $1.87 · Dividend yield 5.5% · Net margin 11.5% · Return on equity 9.2% · Return on assets (EBIT) 4.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −28% fair-value upside, at −27%, ENB screens cheaper than that median.
Fair Value models
Bear$26.33Fair Value $36.14Bull$68.45
Price $49.46 · Downside -26.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+21.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.8%
Start year 2020 (pandemic). Over 10 years: +6.8% a year
Revenue growth 37 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+10.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.9%
Dividend (yield on the price)5.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.3.9% vs 7.4%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 17%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 4.7%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+22.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−1.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +19.9% a year for the price and −3.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (92 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Enbridge's unmatched pipeline network under long-term contracts forms its core strength, yet low innovation and elevated leverage relative to equity limit resilience.
Main risk: Ongoing lawsuits and permit issues for the Line 5 pipeline could force costly reroutes or shutdowns, hitting transportation volumes and fee-based revenues.
Bull case: Enbridge could secure alternative routes or new permits for Line 5 while expanding other contracted projects to maintain stable cash flows.
Bear case: If Line 5 faces prolonged legal blocks or shutdown, the company might lose significant pipeline capacity and associated long-term contracts, pressuring overall midstream operations.
Enbridge runs an unmatched network of pipelines and storage that moves about one fifth of US natural gas under long-term contracts. Growing demand from LNG exports and power generation opens clear expansion paths, yet the incoming CEO stresses that only disciplined execution converts infrastructure plans into lasting cash flows. Will the company capture more upside from these trends than it faces in project delays or regulatory setbacks?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Midstream · 80 stocks
Beats the industry median on 4/15 measures
Overall it trails its industry peers.
Valuation
Quality Score39 · Bottom 25%
Fair Value upside−26.9% · Below median
Profitability
Return on equity (12 months)9.2% · Below median
Return on assets2.5% · Below median
Net margin (12 months)7.3% · Below median
Operating margin (12 months)10.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)97.1% · Top 25%
Dividend yield (12 months)5.5% · Above median
Balance sheet
Debt / equity1.15× · Above median
Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper
P/E (12 months)26.4× · Priciest 25%
P/B1.27× · Cheaper than median
P/S (12 months)1.30× · Cheaper than median
Price / free cash flow24.0× · Pricier than median
EV/EBITDA11.8× · Pricier than median
PEG4.89× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 1
FUTURE (revenue growth)100· sector 100
PAST (return on equity)37· sector 56
HEALTH (low debt)42· sector 55
DIVIDEND (yield)100· sector 80
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Enbridge Inc Fair Value". https://www.fairvalue-calculator.com/stock/ENB
Frequently asked questions
Is Enbridge Inc (ENB) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of $36.14 versus a price of $49.46, about 27% lower (overvalued).
What is the fair value of ENB?
Our model-based fair value for Enbridge Inc is $36.14 (as of Nov 1, 2026), built from audited fundamentals. The current price: $49.46.
What is the quality score of ENB?
Enbridge Inc has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Enbridge Inc (ENB)?
Our model-based price target is the fair value of $36.14 (as of Nov 1, 2026) from 23 valuation models. Cautious scenario $26.33, optimistic scenario $68.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Enbridge Inc stock forecast for 2026?
Our models put fair value at $36.14, about 27% lower versus a price of $49.46 (overvalued). Cautious scenario $26.33, optimistic scenario $68.45. The calculation is refreshed regularly with new filings.
What is the revenue of Enbridge Inc (ENB)?
Enbridge Inc reported trailing-twelve-month revenue of about $83.5B (latest available figure, as of Nov 1, 2026).
Does Enbridge Inc pay a dividend?
Enbridge Inc currently shows a dividend yield of 5.47% relative to its recent price (as of Nov 1, 2026).
What growth is priced into Enbridge Inc (ENB)?
For today's price to be fair in a discounted-cash-flow model, Enbridge Inc would have to grow free cash flow by +22.7 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.8 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of ENB use?
Our models discount Enbridge Inc at 8.8 %: a base by market capitalisation (large), damped by beta 0.80, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Enbridge Inc that is +22.7 % per year a year over ten years, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has Enbridge Inc (ENB) delivered so far?
Over the past 5 years revenue at Enbridge Inc grew +10.8 % a year. The price currently implies +22.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Enbridge Inc (ENB) growing?
The median revenue growth in the sector is +13.4 % a year. That is the yardstick for the growth priced into Enbridge Inc (+22.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Enbridge Inc (ENB)?
The free-cash-flow yield on the price is 4.17 %: that much free cash flow Enbridge Inc produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Enbridge Inc (ENB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Enbridge Inc it is $36.14 per share (as of Nov 1, 2026), against a price of $49.46. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Enbridge Inc stock overvalued or undervalued in 2026?
As of Nov 1, 2026, ENB trades above its calculated fair value: price $49.46, fair value $36.14, a gap of about −27% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ENB?
No. The price is what the market pays today ($49.46); the fair value is what the company's own numbers justify ($36.14). For Enbridge Inc the two are $13.32 per share apart. That gap is exactly why we show both numbers side by side.
How much is Enbridge Inc worth?
The market values Enbridge Inc at about $108B (market capitalisation, as of Nov 1, 2026). Per share that is $49.46; our models calculate a fair value of $36.14 per share.
What do the bullish and bearish scenarios say about ENB?
Our models span a range for Enbridge Inc: cautious scenario $26.33, base $36.14, optimistic $68.45 per share (as of Nov 1, 2026, price $49.46). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ENB?
Enbridge Inc trades at a price-to-earnings ratio of 26.4 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $36.14 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 16.4 (reported for FY2025: 14.5). Other multiples: PEG 4.9, P/B 1.3, P/S 1.3, EV/EBITDA 11.8.
What is the PEG ratio of ENB?
The PEG ratio of Enbridge Inc is 4.89 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Enbridge Inc (ENB)?
Balance-sheet figures for Enbridge Inc (as of Nov 1, 2026): return on equity 9.2%, debt of 1.15 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is ENB from its 52-week high?
Enbridge Inc trades at $49.46, about 14% below its 52-week high of $57.26 and 14% above the low of $43.49 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of $36.14 is for.
Which stocks are comparable to Enbridge Inc?
From the same area (Energy) we also value The Williams Companies, Inc, Enterprise Products Partners L.P., Kinder Morgan, Inc, Cheniere Energy, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Enbridge Inc stock attractive at the current price?
The data as of Nov 1, 2026: price $49.46, calculated fair value $36.14 (−27%), Quality Score 39/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ENB calculated?
We run Enbridge Inc through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $36.14, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.2 % above its aggregate fair value. Enbridge Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Enbridge Inc (ENB)?
The closing price on Oct 30, 2026 was $49.46. Our model-based fair value is $36.14, about 27% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Enbridge Inc right now?
Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($26.33 to $68.45) leaves room in how you read the outcome.
Where does the earnings growth of Enbridge Inc (ENB) come from?
Earnings per share at Enbridge Inc grew +8.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share −5.1 %, EBIT margin +10.7 %, tax rate −0.3 %, residual (interest, one-offs) +3.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Enbridge Inc
How large is the market capitalisation of Enbridge Inc (ENB)?
The market capitalisation of Enbridge Inc is $108B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Enbridge Inc (ENB)?
The price-to-sales ratio of Enbridge Inc is 3.04 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Enbridge Inc (ENB)?
Earnings per share at Enbridge Inc are $1.87 (price ÷ EPS = P/E 26.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Enbridge Inc (ENB)?
The dividend yield of Enbridge Inc is 5.5% (payout 164%, on adjusted earnings, reported 145%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Enbridge Inc (ENB)?
The net margin of Enbridge Inc is 11.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Enbridge Inc (ENB)?
The return on equity (ROE) of Enbridge Inc is 9.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Enbridge Inc (ENB)?
On an EBIT basis the return on assets of Enbridge Inc is 4.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Enbridge Inc (ENB)?
The operating margin of Enbridge Inc is 10.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Enbridge Inc (ENB)?
Revenue at Enbridge Inc is growing +97.1% versus a year earlier (3y avg +6.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Enbridge Inc (ENB)?
Earnings per share at Enbridge Inc are growing −36.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Enbridge Inc (ENB) carry?
The net debt of Enbridge Inc is $144B (fiscal year 2025, ≈ 31.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 1, 2026