ENBEnbridge Inc.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (BBB) and steady price behavior.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -44% · now 20% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can ENB take a bad year?
Enbridge Inc. carries $110.1B of net debt at 6.53× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 6.53×
Net debt / EBITDA · 6.19× a year ago · the load is going up
- Debt / equity
- 1.72×
Debt / equity
- Annualised volatility
- 17%
Annualised volatility · about as steady as the market itself
Details›
- Total debtQ2 2026
- $112.1B
- Cash and short-term investments
- $2.01B
- Net debt
- $110.1B
- EBITDA, trailing twelve months
- $16.9B
- Operating profit, trailing twelve months
- $11.1B
- Debt / equity
- 1.72×
- Total debt / EBITDA
- 6.65×
- Annualised volatilitytwo years of daily moves
- 17%
- Worst drawdown on file
- −44%
- Below its 52-week high
- 20%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.