OakChart

Brookfield Infrastructure Partners L.P

BIPUtilities·Utilities - Diversified·Bermuda·Large·NYSE·Nov 11 • 12:47 PM ET

39.45-0.04 (-0.10%)
2026-11-11 18:47 CET
Market cap
18,075.17 USD m
Revenue, TTM
25,643.00 USD m
Net income, TTM
67.00 USD m
Free cash flow, TTM
-196.00 USD m
EPS diluted, TTM
0.14
P/E
272.63
Compare

Price

BIP against its 20, 50 and 200-day averages
2050200earnings
35.0037.5040.0042.501.6M3.2MMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26BIPclose 39.4520-day 37.6950-day 36.76200-day 37.6339.4552w high

10.4% under the 52-week high of 44.04 on 30 Jul 2026. 52-week low 33.21 on 8 Jan 2026. Last 15 sessions, 11.0% high to low

Profile

BIP
52-week range, 58% of the way up
33.2144.03

Brookfield Infrastructure Partners LP operates as an infrastructure company, which engages in the management of diversified portfolio of infrastructure assets that will generate sustainable and growing distributions over the long-term for unit holders. It operates through the following segments: Utilities, Transport, Midstream, and Data. The Utilities segment includes regulation of business which earns a return on asset base. The Transport segment is involved in transportation for freight, bulk commodities, and passenger. The Midstream segment offers systems that give energy transmission, gathering, processing, and storage services. The Data Infrastructure segment includes critical infrastructure and services to global communication companies. The company was founded in July 1905 and is headquartered in Hamilton, Bermuda.

IPOJan 10, 2008
Beta1.02
ATR, 14d0.98
Rel volume0.53
Short float0.63%
Insider own2.01%
Inst own54.09%

Snapshot

6 groups

Valuation

Index-
Market Cap25.56B
Enterprise Value111.80B
Income67.00M
Sales25.64B
Book/sh9.64
Cash/sh4.12
Dividend Est.1.82 (4.61%)
Dividend TTM1.79 (4.55%)
Dividend Ex-DateAug 31, 2026
Dividend Gr. 3/5Y6.10% 5.28%
Payout196.37%
Employees-
IPOJan 10, 2008

Ratios

P/E272.63
Forward P/E42.88
PEG-
P/S1.00
P/B4.09
P/C9.57
P/FCF-
EV/EBITDA10.58
EV/Sales4.36
Quick Ratio0.84
Current Ratio0.89
Debt/Eq11.63
LT Debt/Eq11.63
Option/ShortYes / Yes

Earnings

EPS (ttm)0.14
EPS next Y0.92
EPS next Q-0.03
EPS this Y-22.78%
EPS next Y32.37%
EPS next 5Y-
EPS past 3/5Y125.49% 33.89%
Sales past 3/5Y16.99% 21.06%
EPS Y/Y TTM-77.29%
Sales Y/Y TTM15.30%
EPS Q/Q-105.56%
Sales Q/Q9.72%
EarningsNov 06 BMO
EPS/Sales Surpr.-136.04% 197.80%

Ownership

Insider Own2.01%
Insider Trans0.00%
Inst Own54.09%
Inst Trans-1.76%
ROA0.08%
ROE1.85%
ROIC0.15%
Gross Margin26.37%
Oper. Margin24.62%
Profit Margin0.26%
SMA204.68%
SMA507.31%
SMA2004.84%
Trades-

Technical

Shs Outstand457.71M
Shs Float448.51M
Short Float0.63%
Short Ratio3.38
Short Interest2.82M
52W High44.03 -10.41%
52W Low33.21 18.79%
Volatility3.46% 2.67%
ATR (14)0.98
RSI (14)65.01
Beta1.02
Rel Volume0.53
Avg Volume833.99K
Volume233,467

Performance

Perf Week3.35%
Perf Month8.59%
Perf Quarter-1.40%
Perf Half Y2.98%
Perf YTD13.56%
Perf Year10.32%
Perf 3Y54.52%
Perf 5Y0.54%
Perf 10Y105.59%
Recom1.42
Target Price46.78
Prev Close39.49
Price39.45
Change %-0.10%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Mar 23, 2026UpgradeMMorgan StanleyEqual-Weight → Overweight$45+14.1%
Oct 29, 2025DowngradeJJefferiesBuy → Hold$37-6.2%
Aug 29, 2025ResumedJJefferiesBuy
Feb 27, 2024InitiatedJJefferiesBuy
Jan 30, 2024DowngradeNNational Bank FinancialOutperform → Sector Perform
Oct 18, 2023UpgradeNNational Bank FinancialSector Perform → Outperform$33-16.3%
Sep 25, 2023UpgradeRRaymond JamesOutperform → Strong Buy$45+14.1%
Sep 23, 2022ResumedTTD SecuritiesBuy$49+24.2%
Jun 30, 2022UpgradeCCredit SuisseNeutral → Outperform$49.50+25.5%
Sep 09, 2021ResumedBBMO Capital MarketsOutperform$61 → $63+59.7%

Peers

Mkt cap
TickerCompanyMkt cap
SRESempra51.32B
AESAES Corp10.65B
FERFerrovial N. V43.92B
BEPBrookfield Renewable Partners LP9.16B
NGGNational Grid Plc ADR83.49B
CWENClearway Energy Inc7.08B
ENBEnbridge Inc106.56B
KMIKinder Morgan Inc70.41B
TRPTC Energy Corp66.72B
AMTAmerican Tower Corp87.85B

Insider trading

1 filings
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Krant David TylerChief Financial OfficerMay 01 '26Buy48.101,15055,3152,150May 05 05:35 PM

Held by

AUM
TickerCompanyAUM
PIDInvesco International Dividend Achievers ETFAUM: 881.07M
FPEFirst Trust Preferred Securities and Income ETFAUM: 5.86B
FDLSInspire Fidelis Multi Factor ETFAUM: 251.04M
FPEFirst Trust Preferred Securities and Income ETFAUM: 5.86B
TOLZProShares DJ Brookfield Global Infrastructure ETFAUM: 172.79M
PFMInvesco Dividend Achievers ETFAUM: 828.15M
VRAIVirtus Real Asset Income ETFAUM: 18.21M
CGFSCG Flagship Equity ETFAUM: 110.24M
FPFDFidelity Preferred Securities & Income ETFAUM: 72.71M

News

latest 14 of 206
  • Brookfield Infrastructure Holds Its 10% FFO Line For A Third Quarter As Data Growth Cools And Investors Turn Wary (Earnings Whispers)
  • Brookfield Infrastructure: Q3 Earnings Snapshot (Associated Press)
  • Brookfield Infrastructure Reports Strong Third Quarter 2026 Results (GlobeNewswire)
  • Brookfield Infrastructure Announces Update on Simplification (GlobeNewswire)
  • Brookfield Infrastructure's AI Pipeline Faces A Proof Test As The Street Prices Growth Below Target (Earnings Whispers)
  • Loading…
  • Brookfield Infrastructure Partners L.P. Unitholders Approve Proposed Corporate Simplification (GlobeNewswire)
  • Brookfield Infrastructure Corporation Announces New Date for Meeting on Proposed Corporate Simplification (GlobeNewswire)
  • Brookfield Infrastructure to Host Third Quarter 2026 Results Conference Call (GlobeNewswire)
  • Brookfield Infrastructure Partners LP's Dividend Analysis (GuruFocus.com)
  • Brookfield Infrastructure to Issue $100 Million of Preferred Units (GlobeNewswire)
  • Brookfield Infrastructure: Q2 Earnings Snapshot (Associated Press)
  • Brookfield Infrastructure Reports Strong Second Quarter 2026 Results (GlobeNewswire)
  • Brookfield Infrastructure Announces Intention to Simplify Corporate Structure (GlobeNewswire)

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-11-06-0.0400.111-6,5562,2012
2026Q22026-07-30-0.0700.163-0.0746,4822,2273
2026Q12026-04-29-0.2000.253-0.2096,3012,1354
2025Q42026-01-290.4500.3270.4526,3042,1062
2025Q32025-11-070.4400.2640.4325,9751,9793
2025Q22025-07-31-0.0300.321-0.0395,4291,9522
2025Q12025-04-300.0400.2930.0305,3922,0042
2024Q42025-01-300.2200.2470.2145,4441,9543
2024Q32024-11-06-0.1800.172-0.1865,2701,9014
2024Q22024-08-01-0.1000.143-0.1115,1381,9134
2024Q12024-05-010.1000.1640.0935,187903.194
2023Q42024-02-01-0.2000.215-0.2044,9702,0303
2023Q32023-11-010.0300.1780.0244,487-3
2023Q22023-08-030.3800.1650.4034,256-5
2023Q12023-05-03-0.0700.186-0.0794,2182,2815
2022Q42023-02-02-0.0300.191-0.0153,7082,2725

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2017FY-0.0241.1450.0283,5353,129
2018FY0.3550.7720.3644,6523,805
2019FY0.0420.4120.0076,5974,977
2020FY0.2330.0950.2048,8853,975
2021FY1.1601.0821.09911,53710,012
2022FY0.1400.6760.07614,42712,775
2023FY0.1400.7700.12017,93114,991
2024FY0.0400.4560.01121,0397,712
2025FY0.9001.0621.38023,1008,126
2026FY-0.695---
2027FY-0.920---
2028FY--0.040---

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-061002,2432,2432,243
2026Q4S2026-10-141002,2432,2432,243
2026Q4S2026-07-311012,2432,2432,243
2026Q4S2026-07-301002,3052,3052,305
2026Q4S2026-07-131002,3052,3052,305
2026Q4S2026-04-291102,3052,3052,305
2026Q4S2026-02-031002,2092,2092,209
2026Q4E2026-11-08100-0.03-0.03-0.03
2026Q4E2026-11-062000.12-0.030.26
2026Q4E2026-10-142000.12-0.030.26
2026Q4E2026-08-112010.12-0.030.26
2026Q4E2026-08-091010.260.260.26
2026Q4E2026-07-312010.270.260.28
2026Q4E2026-07-302000.290.280.30

Estimate history

EPS, annual0.0280.3640.0070.2041.0990.0760.120.0110.8760.1447
Period201720182019202020212022202320242025TTM
EPS, quarterly-0.1860.2140.03-0.0390.4320.452-0.209-0.074-0.024
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual3535465265978885115371442717931210392310025643
Period201720182019202020212022202320242025TTM
Sales, quarterly527054445392542959756304630164826556
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual414.859416.022440.293443.145457.898458.38461.344461.855460.489457.708
Period201720182019202020212022202320242025MRQ
Shares, quarterly461.745461.855462.022461.082461.234460.489457.607457.708-
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue25,643.0023,100.0021,039.0017,931.0014,427.0011,537.008,885.006,597.004,652.00
Cost of Goods Sold Incl. D&A18,882.0016,876.0015,676.0013,470.0010,510.008,247.006,548.004,609.003,009.00
Gross Profit6,761.006,224.005,363.004,461.003,917.003,290.002,337.001,988.001,643.00
Selling, General and Administrative Excl. Other448.00426.00405.00413.00433.00406.00312.00279.00223.00
Other Operating Expense-0.000.000.000.000.000.000.000.00
Operating Income6,313.005,798.004,958.004,048.003,484.002,884.002,025.001,709.001,420.00
Interest Expense4,215.003,868.003,387.002,501.001,855.001,468.001,179.00904.00555.00
Unusual Expense334.00548.0026.00118.00-202.00-80.0016.009.00-116.00
Net Income Before Taxes2,385.003,121.001,953.001,570.001,923.003,245.001,064.00704.001,183.00
Income Taxes442.00589.00270.00581.00560.00614.00291.00278.00364.00
Consolidated Net Income1,943.002,532.001,683.001,448.001,375.002,719.00904.00650.00806.00
Net Income From Continuing Operations98.00449.0057.00102.00101.00556.00141.0052.00192.00
Net Income67.00403.005.0055.0035.00489.0090.003.00151.00
EPS (Recurring)0.661.710.050.30-0.230.970.230.020.17
EPS (Basic, Before Extraordinaries)0.140.880.010.120.081.100.200.010.36
EPS (Diluted)0.140.880.010.120.081.100.200.010.36
EBITDA10,563.009,822.008,602.006,787.005,642.004,920.003,730.002,923.002,221.00
Non-Operating Income (Expense)621.001,739.00408.00141.0092.001,749.00234.00-92.00202.00
Other After Tax Adjustments-0.000.000.000.000.000.000.000.00
Price To Earnings Ratio272.91272.91-94.4271.3736.79162.073,739.8957.52
Price To Sales Ratio0.630.690.700.810.981.561.642.162.06
Gross Margin26.3726.9425.4924.8827.1528.5226.3030.1335.32
Operating Margin24.6225.1023.5722.5824.1525.0022.7925.9130.52
Net Margin0.261.740.020.310.244.241.010.053.25
Shares Outstanding-460.49461.86461.34458.38457.90443.14440.29416.02
Market Capitalization18,075.1718,075.1714,671.4714,552.5114,201.8518,563.1914,594.2313,337.818,705.08

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue6,556.006,482.006,301.006,304.005,975.005,429.005,392.005,444.00
Cost of Goods Sold Incl. D&A4,884.004,892.004,605.004,501.004,416.003,995.003,964.003,991.00
Gross Profit1,672.001,590.001,696.001,803.001,559.001,434.001,428.001,453.00
Selling, General and Administrative Excl. Other111.00114.00109.00114.00107.00108.0097.00103.00
Other Operating Expense-0.000.000.000.000.000.000.00
Operating Income1,561.001,476.001,587.001,689.001,452.001,326.001,331.001,350.00
Interest Expense1,049.001,073.001,047.001,046.001,014.00909.00899.00894.00
Unusual Expense171.00-77.00115.00125.00158.00139.00126.00-35.00
Net Income Before Taxes455.00678.00255.00997.001,037.00409.00678.00549.00
Income Taxes153.00189.00107.00-7.00287.00157.00152.0098.00
Consolidated Net Income302.00489.00148.001,004.00750.00252.00526.00451.00
Net Income From Continuing Operations-11.00-24.00-86.00219.00210.00-6.0026.00112.00
Net Income-11.00-34.00-96.00208.00199.00-18.0014.0099.00
EPS (Recurring)0.24-0.19-0.030.640.670.170.220.16
EPS (Basic, Before Extraordinaries)-0.02-0.07-0.210.450.43-0.040.030.21
EPS (Diluted)-0.02-0.07-0.210.450.43-0.040.030.21
EBITDA2,568.002,571.002,662.002,762.002,502.002,267.002,291.002,322.00
Non-Operating Income (Expense)114.00198.00-170.00479.00757.00131.00372.0058.00
Other After Tax Adjustments-0.000.000.000.000.000.000.00
Price To Earnings Ratio272.9149.7541.2954.521,695.36-2,784.11-
Price To Sales Ratio0.630.670.690.690.680.720.650.70
Gross Margin25.5024.5326.9228.6026.0926.4126.4826.69
Operating Margin23.8122.7725.1926.7924.3024.4224.6824.80
Net Margin-0.17-0.52-1.523.303.33-0.330.261.82
Shares Outstanding-457.71457.61460.49461.23461.08462.02461.86
Market Capitalization18,075.1716,859.1816,688.2316,050.6415,195.9015,477.7413,748.4414,671.47

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments3,594.002,646.002,723.002,642.002,099.001,497.001,198.00903.00523.00
Short Term Receivables4,689.003,873.003,734.002,342.001,923.001,531.001,802.001,105.00781.00
Inventories583.00454.00512.00531.00400.00221.00242.00141.00108.00
Other Current Assets3,112.002,634.001,010.001,171.00474.00462.002,599.00127.00100.00
Total Current Assets11,978.009,607.007,979.006,686.004,896.003,711.005,841.002,276.001,512.00
Net Property, Plant & Equipment66,797.0050,847.0048,546.0037,291.0038,655.0031,584.0023,013.0012,814.009,937.00
Total Investments and Advances9,783.0011,307.0010,267.006,716.005,853.006,496.006,061.005,557.006,284.00
Long-Term Note Receivable3,601.00154.0075.0030.0063.00259.0085.00145.00210.00
Intangible Assets34,975.0028,622.0030,333.0020,611.0023,193.0018,401.0020,939.0015,494.0011,195.00
Deferred Tax Assets208.00120.00107.00111.00160.00124.00112.0075.0066.00
Other Assets808.003,933.003,477.001,524.001,141.00756.00257.00219.00273.00
Total Assets128,150.00104,590.00100,784.0072,969.0073,961.0061,331.0056,308.0036,580.0029,477.00
Short Term Debt Incl. Current Port. of LT Debt7,359.004,298.006,388.003,415.003,548.001,757.001,578.00985.00463.00
Accounts Payable2,506.002,154.002,253.001,872.001,877.001,461.00854.00463.00246.00
Other Current Liabilities5,395.004,451.003,064.003,090.003,236.002,306.003,007.00969.00855.00
Total Current Liabilities15,260.0010,903.0011,705.008,377.008,661.005,524.005,439.002,417.001,564.00
Long Term Debt61,743.0051,934.0043,073.0030,259.0029,564.0025,244.0021,264.0014,141.009,721.00
Provision for Risks Charges835.00599.00494.00434.00664.00738.00475.00229.00195.00
Deferred Tax Liabilities9,798.007,667.007,903.005,975.006,011.004,612.004,620.003,421.002,849.00
Other Liabilities4,974.003,634.003,593.002,370.002,670.003,540.002,333.001,704.001,674.00
Total Liabilities92,610.0074,737.0066,768.0047,415.0047,570.0039,658.0034,131.0021,912.0016,003.00
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value729.00918.00918.00918.001,138.001,130.00935.00936.00595.00
Common Equity4,889.004,704.005,321.005,372.005,702.004,233.005,048.004,513.004,967.00
Total Shareholders Equity5,618.005,622.006,239.006,290.006,840.005,363.005,983.005,449.005,562.00
Accumulated Minority Interest29,922.0024,231.0027,777.0019,264.0019,551.0016,310.0016,194.009,219.007,912.00
Total Equity35,540.0029,853.0034,016.0025,554.0026,391.0021,673.0022,177.0014,668.0013,474.00
Total Liabilities & Stockholders Equity128,150.00104,590.00100,784.0072,969.0073,961.0061,331.0056,308.0036,580.0029,477.00
Book Value Per Share10.6210.1911.5311.7212.459.5511.4710.8511.97
Tangible Book Value Per Share-65.33-51.79-54.22-33.25-38.20-31.97-36.09-26.40-15.01
Full-Time Employees--52,00052,00044,00041,000-00
Price to Book Ratio4.103.162.702.733.263.452.641.932.29
Return on Assets0.390.060.120.140.820.240.110.580.04
Return on Equity7.990.961.631.549.112.490.913.490.21
Return on Invested Capital0.670.100.210.281.530.460.190.980.07
Quick Ratio0.750.840.640.730.520.631.030.880.90
Current Ratio0.780.880.680.800.570.671.070.940.97

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income1,943.002,532.001,683.001,448.001,375.002,719.00904.00650.00806.00
Depreciation4,250.004,024.003,644.002,739.002,158.002,036.001,705.001,214.00801.00
Other Funds (Non Cash)354.00-21.00-124.00524.00416.00-1,699.0087.00183.00-167.00
Funds from Operations6,303.006,379.004,879.004,716.004,035.003,296.002,750.002,075.001,486.00
Extraordinary Item-0.000.000.000.000.000.000.000.00
Changes in Working Capital-334.00-408.00-226.00-638.00-904.00-524.00-220.0068.00-124.00
Cash from Operating Activities5,969.005,971.004,653.004,078.003,131.002,772.002,530.002,143.001,362.00
Capital Expenditures-6,165.00-6,024.00-4,975.00-2,487.00-2,775.00-2,067.00-1,472.00-1,182.00-839.00
Net Assets From Acquisitions-1,726.00-10,032.00-4,247.00-11,170.00-479.00-5,882.00-4,383.00-10,271.00-6,702.00
Sale of Fixed Assets and Businesses-8,362.00686.009,506.00532.006,440.004,050.007,212.002,633.00
Purchase or Sale of Investments-1,492.00534.000.00200.00-528.00429.00-606.00-302.001,130.00
Purchase of Investments-1,492.00-1,237.00-1,027.00-1,622.00-1,523.00-1,324.00-1,539.00-715.00-263.00
Sale Or Maturity of Investments-1,771.001,027.001,822.00995.001,753.00933.00413.001,393.00
Other Uses307.00-221.00-126.00-720.000.000.000.000.00-53.00
Other Sources2,315.000.0037.000.00178.0019.0083.0073.000.00
Cash from Investing Activities-5,257.00-7,381.00-8,625.00-4,671.00-3,072.00-1,061.00-2,328.00-4,470.00-3,831.00
Cash Dividends Paid-1,738.00-1,419.00-1,348.00-1,247.00-1,174.00-1,048.00-949.00-869.00-779.00
Change in Capital Stock153.00-9.0011.00-13.00-230.001,061.00204.00853.00325.00
Repurchase of Common Pref Stock-0.000.00-13.00-243.00-12.000.000.00-30.00
Sale of Common Pref Stock153.00-9.0011.000.0013.001,073.00204.00853.00355.00
Proceedsfrom Stock Options153.00-9.0011.000.0013.001,073.00204.00853.00355.00
Issuance or Reduction of Debt, Net6,441.008,190.008,571.005,654.003,617.001,555.001,748.003,865.003,955.00
Change in Long Term Debt6,441.008,190.008,571.005,654.003,617.001,555.001,748.003,865.003,955.00
Issuance of Long Term Debt6,441.0019,374.0027,612.0021,061.0013,138.0023,113.009,036.0013,652.007,281.00
Reduction of Long Term Debt--11,184.00-19,041.00-15,407.00-9,521.00-21,558.00-7,288.00-9,787.00-3,326.00
Net Financing Active Other Cash Flow--3,725.00-2,483.00-3,011.00-2,217.00-1,709.00-918.00-1,209.00-816.00
Other Financing Activities Uses--3,725.00-2,483.00-3,011.00-2,219.00-1,709.00-1,463.00-1,374.00-816.00
Cash from Financing Activities-549.002,538.004,336.001,100.00-237.00-1,107.00-155.002,640.002,685.00
Exchange Rate Effect-78.0047.00-150.0071.0088.00-65.00-7.00-13.00-50.00
Net Change in Cash85.001,175.00214.00578.00-90.00539.0040.00300.00166.00
Free Cash Flow-196.00-53.00-322.001,591.00356.00705.001,058.00961.00523.00
Price to Free Cash Flow---42.05--133.56155.19-
Deferred Taxes & Investment Tax Credit--156.00-324.005.0086.00240.0054.0028.0046.00

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments2,672.003,085.002,458.003,594.002,613.002,342.00
Short Term Receivables-5,528.005,477.004,689.005,650.004,912.00
Inventories-558.00576.00583.00583.00470.00
Other Current Assets-1,763.00361.003,112.003,030.004,442.00
Total Current Assets2,672.0010,934.008,872.0011,978.0011,876.0012,166.00
Net Property, Plant & Equipment66,141.0063,692.0066,363.0066,797.0062,592.0052,497.00
Total Investments and Advances7,353.0010,108.009,874.009,783.008,438.008,623.00
Intangible Assets32,182.0032,324.0034,675.0034,975.0036,725.0031,049.00
Deferred Tax Assets-121.00123.00208.00128.00159.00
Other Assets12,297.004,769.004,602.00808.004,540.004,197.00
Total Assets120,645.00121,948.00124,509.00128,150.00124,299.00108,691.00
Short Term Debt Incl. Current Port. of LT Debt-4,827.006,674.007,359.005,987.005,265.00
Accounts Payable-6,159.005,858.006,282.006,115.005,338.00
Other Current Liabilities-1,319.00438.001,619.001,886.003,166.00
Total Current Liabilities-12,305.0012,970.0015,260.0013,988.0013,769.00
Long Term Debt61,064.0061,963.0062,286.0061,743.0060,709.0052,466.00
Provision for Risks Charges-0.000.00835.000.000.00
Deferred Tax Liabilities-9,728.009,706.009,798.009,443.007,820.00
Other Liabilities27,325.005,429.005,313.004,974.005,691.004,987.00
Total Liabilities88,389.0089,425.0090,275.0092,610.0089,831.0079,042.00
Non-Equity Reserves-0.000.000.000.000.00
Preferred Stock - Carrying Value835.00729.00729.00729.00822.00822.00
Common Equity4,417.004,413.004,616.004,889.004,512.004,445.00
Total Shareholders Equity5,252.005,142.005,345.005,618.005,334.005,267.00
Accumulated Minority Interest27,004.0027,381.0028,889.0029,922.0029,134.0024,382.00
Total Equity32,256.0032,523.0034,234.0035,540.0034,468.0029,649.00
Total Liabilities & Stockholders Equity120,645.00121,948.00124,509.00128,150.00124,299.00108,691.00
Book Value Per Share-9.6410.0910.629.789.64
Tangible Book Value Per Share--60.98-65.69-65.33-69.84-57.70
Price to Book Ratio4.103.623.403.553.413.29
Return on Assets0.080.280.300.390.300.06
Return on Equity1.856.136.217.996.281.06
Return on Invested Capital-0.02-0.04-0.130.330.32-0.01
Quick Ratio-0.840.640.750.810.85
Current Ratio-0.890.680.780.850.88

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income302.00489.00148.001,004.00750.00252.00
Depreciation1,007.001,095.001,075.001,073.001,050.00941.00
Other Funds (Non Cash)135.00-118.00359.00-22.00-107.00115.00
Funds from Operations1,404.001,501.001,531.001,867.001,807.001,264.00
Extraordinary Item-0.000.000.000.000.00
Changes in Working Capital135.00-8.00-638.00177.0063.00-75.00
Cash from Operating Activities1,539.001,493.00893.002,044.001,870.001,189.00
Capital Expenditures-732.00-1,291.00-2,113.00-2,029.00-2,105.00-1,020.00
Net Assets From Acquisitions-243.00-865.00-434.00-184.00-9,163.00-565.00
Sale of Fixed Assets and Businesses-1,134.001,158.001,446.006,353.0060.00
Purchase or Sale of Investments269.00-275.0035.00-952.00586.00665.00
Purchase of Investments269.00-595.00-156.00-1,010.00-189.00-35.00
Sale Or Maturity of Investments-320.00191.0058.00775.00700.00
Other Uses-28.00-59.00-74.00468.00-671.00-16.00
Other Sources2,315.000.000.000.00-50.0020.00
Cash from Investing Activities-1,222.00-1,356.00-1,428.00-1,251.00-5,050.00-856.00
Cash Dividends Paid-638.00-373.00-373.00-354.00-354.00-355.00
Change in Capital Stock109.003.0029.0012.003.00-26.00
Repurchase of Common Pref Stock-0.000.000.000.000.00
Sale of Common Pref Stock109.003.0029.0012.003.00-26.00
Proceedsfrom Stock Options109.003.0029.0012.003.00-26.00
Issuance or Reduction of Debt, Net-7,296.001,584.00766.002,173.004,750.001,644.00
Change in Long Term Debt-7,296.001,584.00766.002,173.004,750.001,644.00
Issuance of Long Term Debt-7,296.005,377.003,479.004,881.007,238.004,287.00
Reduction of Long Term Debt--3,793.00-2,713.00-2,708.00-2,488.00-2,643.00
Net Financing Active Other Cash Flow--567.00-512.00-1,894.00-748.00-645.00
Other Financing Activities Uses--567.00-512.00-1,894.00-748.00-645.00
Cash from Financing Activities-688.00530.00-207.00-184.003,503.00501.00
Exchange Rate Effect-7.00-32.00-1.00-38.00-18.0034.00
Net Change in Cash-378.00635.00-743.00571.00305.00868.00
Free Cash Flow807.00202.00-1,220.0015.00-235.00169.00

Revenue breakdown

Total Water Transportation revenue2024: 21.04B 2025: 23.10B
Aggregated Individually Immaterial Geographical Areas2024: 2.07B 2025: 1.92B
Australia2024: 543.00M 2025: 453.00M
Brazil2024: 1.42B 2025: 1.68B
Canada2024: 4.76B 2025: 4.50B
Colombia2024: 1.15B 2025: 1.28B
France2024: 749.00M 2025: 667.00M
Germany2024: 312.00M 2025: 461.00M
India2024: 2.52B 2025: 3.21B
United Kingdom2024: 2.42B 2025: 2.54B
United States2024: 5.10B 2025: 6.40B
Data2024: 3.42B 2025: 4.40B
Midstream2024: 4.35B 2025: 5.05B
Transport2024: 4.97B 2025: 4.60B
Utilities2024: 8.30B 2025: 9.06B

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-300.63%2.8M448.5M788.33K
2026-10-150.67%3.0M451.2M897.04K
2026-09-300.50%2.3M451.2M892.18K
2026-09-150.39%1.8M451.2M877.28K
2026-08-310.32%1.4M451.3M847.35K
2026-08-140.29%1.3M451.3M867.59K
2026-07-310.32%1.5M453.5M870.68K
2026-07-150.28%1.3M453.5M799.58K
2026-06-300.19%0.9M455.0M836.45K
2026-06-150.19%0.9M455.0M911.00K
2026-05-290.22%1.0M455.0M991.32K
2026-05-150.19%0.9M455.0M991.41K
2026-04-300.19%0.9M454.8M995.81K
2026-04-150.21%0.9M454.8M927.67K
2026-03-310.19%0.9M454.8M857.79K
2026-03-130.20%0.9M454.8M738.44K
2026-02-270.23%1.1M454.8M669.44K
2026-02-130.22%1.0M454.8M652.56K
2026-01-300.22%1.0M455.6M591.85K
2026-01-150.22%1.0M455.6M565.07K

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call20.0017.8021.0017.034.5989.000.000.988-0.0170.002
call22.5015.3018.700.003.9530.000.000.986-0.0170.002
call25.0012.9016.200.003.5610.000.000.984-0.0160.002
call30.007.9010.906.152.3561.000.000.976-0.0150.003
call35.002.906.203.201.62017.000.000.954-0.0130.006
call40.000.250.400.550.2591520.000.394-0.0410.024
call45.000.000.100.060.4991.000.000.041-0.0150.005
call50.000.000.050.000.7340.000.000.029-0.0160.004
call55.000.000.050.000.9710.000.000.023-0.0170.003
put20.000.000.050.001.9330.000.00-0.011-0.0180.002
put22.500.000.050.001.6280.000.00-0.013-0.0170.002
put25.000.000.050.001.3540.000.00-0.015-0.0170.002
put30.000.000.100.050.86925.000.00-0.023-0.0150.003
put35.000.000.050.130.4521380.00-0.043-0.0140.006
put40.000.601.254.600.3790.000.00-0.605-0.0410.024
put45.004.307.200.001.3550.000.00-0.932-0.0250.008
put50.009.3012.200.001.8230.000.00-0.971-0.0170.004
put55.0014.3017.100.002.2720.000.00-0.976-0.0180.003

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-096-K/A2026-09-30SEC
2026-11-066-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-09-30SEC
2026-11-066-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-11-06SEC
2026-11-066-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-11-05SEC
2026-10-29SCHEDULE 13G/ASEC
2026-10-156-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-14SEC
2026-10-146-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-14SEC
2026-10-136-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-09SEC
2026-08-316-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-31SEC
2026-08-286-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-27SEC
2026-08-206-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-20SEC
2026-08-056-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-06-30SEC
2026-08-056-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-05SEC
2026-08-05SCHEDULE 13G/ASEC
2026-07-306-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-07-30SEC
2026-07-23SCHEDULE 13D/ASEC
2026-07-226-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-07-21SEC
2026-07-226-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-07-22SEC
2026-05-15SCHEDULE 13G/ASEC
2026-05-14SCHEDULE 13G/ASEC
2026-05-12SCHEDULE 13G/ASEC
2026-05-086-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-03-31SEC
2026-05-054Statement of changes in beneficial ownership of securities2026-05-01SEC
2026-05-054Statement of changes in beneficial ownership of securities2026-05-01SEC
2026-04-296-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-04-29SEC
2026-03-233Initial statement of beneficial ownership of securities2026-03-18SEC
2026-03-233Initial statement of beneficial ownership of securities2026-03-18SEC
2026-03-233Initial statement of beneficial ownership of securities2026-03-18SEC
2026-03-183Initial statement of beneficial ownership of securities2026-03-18SEC
2026-03-183Initial statement of beneficial ownership of securities2026-03-18SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-080000
2026-070000
2026-060000
2026-0555.32K100
2026-040000
2026-030000
2026-020000
2026-010000
2025-120000
2025-110000

Institutional holders

Manager% owned
ROYAL BANK OF CANADA11.06%
BANK OF MONTREAL /CAN/5.88%
Capital World Investors4.37%
Capital International Investors2.88%
PRINCIPAL FINANCIAL GROUP INC2.83%
SCOTIA CAPITAL INC.1.57%
1832 Asset Management L.P.1.56%
TD ASSET MANAGEMENT INC1.53%
Neuberger Berman Group LLC1.53%
FIL Ltd1.43%

Funds

Fund% owned
MidCap Fund3.28%
John Hancock Preferred Income Fund III0.78%
Neuberger Long Short Fund0.77%
John Hancock Preferred Income Fund0.73%
John Hancock Preferred Income Fund II0.59%
John Hancock Preferred Income ETF0.38%
Multi-Asset High Income Fund0.24%
Capital Group Dividend Growers ETF0.17%
Cohen & Steers Preferred Securities & Income Fund, Inc.0.13%
Invesco International Dividend AchieversTM ETF0.13%

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