Brookfield Infrastructure Partners L.P. (BIP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.24	-$0.07	-129.2%	—	$6.5B	—
Q1 26	$0.2	-$0.2	-200.0%	—	$6.3B	—
Q4 25	$0.27	$0.45	+66.7%	—	$6.3B	—
Q3 25	$0.31	$0.44	+41.9%	—	$6B	—
Q2 25	$0.31	-$0.03	-109.7%	—	$5.4B	—
Q1 25	—	$0.04	—	—	$5.4B	—
Q4 24	$0.05	$0.22	+340.0%	—	$5.4B	—
Q3 24	$0.21	-$0.18	-185.7%	—	$5.3B	—
Q2 24	$0.1	-$0.1	-200.0%	—	$5.1B	—
Q1 24	$0.11	$0.1	-9.1%	—	$5.2B	—
Q4 23	$0.11	-$0.2	-281.8%	—	$5B	—
Q3 23	$0.1	$0.03	-70.0%	—	$4.5B	—
Q2 23	$0.15	$0.38	+153.3%	—	$4.3B	—
Q1 23	$0.21	-$0.07	-133.3%	—	$4.2B	—
Q4 22	$0.17	-$0.03	-117.6%	—	$3.7B	—
Q3 22	$0.1	$0.05	-50.0%	—	$3.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.9	—	—	$23.1B	—
FY24	—	$0.04	—	—	$21B	—
FY23	—	$0.14	—	—	$17.9B	—
FY22	—	$0.14	—	—	$14.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.1B	$3.5B	$4.7B	$6.6B	$8.9B	$11.5B	$14.4B	$17.9B	$21B	$23.1B
YoY change	+14%	+67.1%	+31.6%	+41.8%	+34.7%	+29.8%	+25%	+24.3%	+17.3%	+9.8%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.1B	3.5B	4.7B	6.6B	8.9B	11.5B	14.4B	17.9B	21B	23.1B
Cost of revenue	1.1B	1.5B	2.2B	4.6B	6.5B	8.2B	10.5B	13.5B	15.7B	16.9B
Gross profit	1.1B	2B	2.4B	2B	2.3B	3.3B	3.9B	4.5B	5.4B	6.2B
Gross margin	49.7%	57.3%	52.5%	30.1%	26.3%	28.5%	27.2%	24.9%	25.5%	26.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	166M	239M	223M	279M	312M	406M	433M	413M	405M	426M
Operating expenses	166M	239M	223M	279M	312M	406M	433M	413M	405M	426M
Operating income	439M	1.1B	1.4B	1.7B	2B	2.9B	3.5B	4B	5B	5.8B
Operating margin	20.8%	31.6%	30.5%	25.9%	22.8%	25%	24.1%	22.6%	23.6%	25.1%
Non-operating income, net	496M	59M	305M	123M	349M	1.9B	306M	482M	382M	1.2B
Pretax income	543M	747M	1.2B	928M	1.2B	3.3B	1.9B	2B	2B	3.1B
Income tax	15M	173M	364M	278M	291M	614M	560M	581M	270M	589M
Net income	528M	574M	806M	650M	904M	2.7B	1.4B	1.4B	1.7B	2.5B
Net margin	25%	16.2%	17.3%	9.85%	10.2%	23.6%	9.53%	8.08%	8%	11%
EBITDA	1.3B	1.9B	2B	2.9B	4B	6.7B	5.5B	7.1B	8.7B	11.2B
EPS	0.75	-0.03	0.39	0.05	0.23	1.16	0.14	0.14	0.04	0.9
Diluted EPS	0.75	-0.03	0.39	0.05	0.23	1.16	0.14	0.14	0.04	0.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	4.5B	5B	5.2B	5.1B	5.3B	5.4B	5.4B	5.4B	6B	6.3B	6.3B	6.5B
Cost of revenue	3.4B	3.6B	3.9B	3.9B	3.9B	4B	4B	4B	4.4B	4.5B	4.6B	4.9B
Gross profit	1.1B	1.4B	1.3B	1.3B	1.4B	1.5B	1.4B	1.4B	1.6B	1.8B	1.7B	1.6B
Gross margin	24.6%	28%	24.6%	24.6%	26.1%	26.7%	26.5%	26.4%	26.1%	28.6%	26.9%	24.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	100M	101M	97M	92M	113M	103M	97M	108M	107M	114M	109M	114M
Operating expenses	100M	101M	97M	92M	113M	103M	97M	108M	107M	114M	109M	114M
Operating income	1B	1.3B	1.2B	1.2B	1.3B	1.4B	1.3B	1.3B	1.5B	1.7B	1.6B	1.5B
Operating margin	22.4%	26%	22.7%	22.8%	23.9%	24.8%	24.7%	24.4%	24.3%	26.8%	25.2%	22.8%
Non-operating income, net	31M	-118M	443M	-80M	-74M	93M	246M	-8M	599M	354M	-285M	275M
Pretax income	394M	448M	826M	265M	313M	549M	678M	409M	1B	997M	255M	678M
Income tax	138M	172M	12M	81M	79M	98M	152M	157M	287M	-7M	107M	189M
Net income	256M	276M	814M	184M	234M	451M	526M	252M	750M	1B	148M	489M
Net margin	5.71%	5.55%	15.7%	3.58%	4.44%	8.28%	9.76%	4.64%	12.6%	15.9%	2.35%	7.54%
EBITDA	1.7B	1.9B	2.6B	2B	2.1B	2B	2.7B	2.4B	3.3B	2.9B	2.5B	2.8B
EPS	0.03	—	0.1	-0.1	-0.18	—	0.04	-0.03	0.44	—	-0.2	-0.07
Diluted EPS	0.03	—	0.1	-0.1	-0.18	—	0.04	-0.03	0.44	—	-0.2	-0.07

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	7.3B	10.6B	8.5B	12.7B	14.6B	18B	14.2B	14.5B	14.7B	16B	27.6B
Enterprise value	14.9B	20.3B	23B	34.8B	40.4B	49.4B	45.8B	61.6B	68.6B	82.8B	107.3B
Shares outstanding	367.1M	396.9M	415.4M	428.4M	442.1M	445.1M	458.1M	459.4M	461.6M	460.1M	460.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	13.8	18.4	10.6	19.6	16.1	6.64	10.3	9.99	8.72	6.31	56.1
P/S	3.46	2.99	1.84	1.93	1.64	1.56	0.98	0.81	0.7	0.69	1.1
P/B	0.76	0.79	0.58	0.57	0.67	0.68	0.56	0.43	0.49	0.45	3.61
EV/EBITDA	11.4	10.6	11.3	12	10.2	7.34	8.29	8.63	7.92	7.4	10.2
EV/Sales	7.05	5.73	4.94	5.28	4.55	4.28	3.17	3.44	3.26	3.58	4.28
Earnings yield	7.22%	5.42%	9.44%	5.1%	6.21%	15.1%	9.69%	10%	11.5%	15.8%	1.78%
FCF yield	0.86%	7.25%	6.13%	7.54%	7.27%	3.91%	2.51%	11%	-2.19%	-0.33%	-3.06%
PEG	—	—	—	—	—	—	—	—	—	—	0.42

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	49.7%	57.3%	52.5%	30.1%	26.3%	28.5%	27.2%	24.9%	25.5%	26.9%	24.5%
Operating margin	20.8%	31.6%	30.5%	25.9%	22.8%	25%	24.1%	22.6%	23.6%	25.1%	22.8%
Net margin	25%	16.2%	17.3%	9.85%	10.2%	23.6%	9.53%	8.08%	8%	11%	1.27%
ROE	5.47%	4.26%	5.49%	2.93%	4.17%	10.3%	5.38%	4.26%	5.64%	7.12%	7.69%
ROA	2.48%	1.95%	2.2%	1.15%	1.47%	3.68%	1.88%	1.44%	1.61%	1.98%	3.36%
ROIC	2.48%	3.7%	3.36%	2.71%	3.22%	4.08%	4.33%	3.56%	5.1%	4.6%	5.47%
Return on tangible assets	4.66%	8.1%	14.4%	4.5%	3.69%	9.86%	4.33%	3.61%	3.55%	4.35%	4.17%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.08	0.97	0.94	1.07	0.67	0.57	0.8	0.68	0.88	0.78	0.89
Quick ratio	1.01	0.9	0.88	1.03	0.63	0.52	0.73	0.64	0.84	0.75	0.84
Debt / equity	0.86	0.75	1.03	1.03	1.25	1.25	1.32	1.46	1.89	1.94	2.05
Debt / assets	0.39	0.34	0.41	0.41	0.44	0.45	0.46	0.49	0.54	0.54	0.51
Net debt / EBITDA	5.81	5.08	7.07	7.59	6.54	4.66	5.72	6.6	6.23	5.97	5.18
Interest coverage	2.4	2.76	3.15	2.13	2.15	3.69	2.21	1.9	1.64	1.89	1.78
Effective tax rate	2.76%	23.2%	31.1%	30%	24.4%	18.4%	28.9%	28.6%	13.8%	18.9%	19.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.76	8.91	11.2	15.4	20.1	25.9	31.5	39	45.6	50.2	54.6
EPS (basic)	0.75	-0.03	0.39	0.05	0.23	1.16	0.14	0.14	0.04	0.9	0.9
EPS (diluted)	0.75	-0.03	0.39	0.05	0.23	1.16	0.14	0.14	0.04	0.9	0.62
Book value per share	26.3	33.9	35.3	51.8	49	59.3	55.8	74	64.7	77.2	9.64
FCF per share	0.17	1.93	1.26	2.24	2.39	1.58	0.78	3.46	-0.7	-0.12	-2.71
Cash per share	2.01	1.21	1.65	2.02	2.98	4.06	4.95	5.32	5.27	5.07	7.67
Capex per share	1.86	1.68	1.96	2.67	3.23	4.45	5.97	5.06	9.46	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	32.3%	18.9%	17.5%	17.3%	16%	17.2%	19%	13%	20.8%	—	—
Capex / operating cash flow	69.1%	52.1%	44.6%	59.2%	48.4%	41.2%	86.1%	57.2%	91.1%	—	—
Payout ratio	118.9%	138.3%	114%	158%	125.4%	46.2%	103.1%	104.7%	97.7%	68.8%	285.5%
Dividend yield	8.59%	7.5%	10.8%	8.06%	7.79%	6.97%	9.99%	10.5%	11.2%	10.9%	5.22%

Yield

5.22%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.455

ex-dividend Aug 31, 2026

Payout ratio

285%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.455
May 29, 2026	$0.455
Feb 27, 2026	$0.455

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$4.5B	$5B	$5.2B	$5.1B	$5.3B	$5.4B	$5.4B	$5.4B	$6B	$6.3B	$6.3B	$6.5B
YoY change	+23.7%	+34%	+23%	+20.7%	+17.5%	+9.54%	+3.95%	+5.66%	+13.4%	+15.8%	+16.9%	+19.4%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	738M	480M	684M	866M	1.3B	1.8B	2.3B	2.4B	2.4B	2.3B
Receivables	395M	738M	1B	1.7B	1.5B	1.8B	2.3B	3.5B	3.6B	4.3B
Inventory	101M	108M	141M	242M	221M	400M	531M	512M	454M	583M
Total current assets	1.6B	1.5B	2.3B	5.8B	3.7B	4.9B	6.7B	8B	9.6B	12B
Property, plant & equipment	11.8B	13.5B	16.1B	26.9B	19.4B	29.4B	28.4B	38.4B	40.3B	54.8B
Goodwill & intangibles	9.9B	22.4B	31B	41.9B	36.8B	46.4B	41.2B	60.7B	57.2B	70B
Total assets	21.3B	29.5B	36.6B	56.3B	61.3B	74B	73B	100.8B	104.6B	128.2B
Accounts payable	266M	864M	463M	973M	1.5B	1.9B	1.9B	2.3B	2.2B	2.5B
Short-term debt	574M	463M	985M	1.6B	1.9B	3.5B	3.6B	6.5B	4.4B	7.4B
Total current liabilities	1.5B	1.6B	2.4B	5.4B	5.5B	8.7B	8.4B	11.7B	10.9B	15.3B
Long-term debt	7.8B	9.7B	14.1B	21.3B	25.3B	29.6B	30.3B	43.1B	51.9B	61.8B
Total liabilities	11.6B	16B	21.9B	34.1B	39.7B	47.6B	47.4B	66.8B	74.7B	92.6B
Shareholders' equity	9.6B	13.5B	14.7B	22.2B	21.7B	26.4B	25.6B	34B	29.9B	35.5B
Total debt	8.3B	10.2B	15.1B	22.9B	27.2B	33.1B	33.8B	49.6B	56.4B	69.1B
Net debt	7.6B	9.8B	14.7B	22.2B	26.5B	31.9B	32.7B	47.9B	54.4B	67.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.3B	2.4B	2.7B	2.2B	2.2B	2.4B	1.8B	2.6B	3.3B	2.3B	2.8B	3.5B
Receivables	5.1B	3.5B	4.9B	4.5B	4.9B	3.6B	4.9B	4.9B	5.7B	4.3B	5.5B	5.5B
Inventory	490M	512M	486M	477M	467M	454M	430M	470M	583M	583M	576M	558M
Total current assets	7.8B	8B	8.5B	7.5B	7.5B	9.6B	7.8B	12.2B	11.9B	12B	8.9B	10.9B
Property, plant & equipment	37.3B	38.4B	40.4B	40B	42.1B	40.3B	40.1B	41B	51B	54.8B	54.4B	51.5B
Goodwill & intangibles	59.5B	60.7B	60.1B	56.6B	58.9B	57.2B	57.9B	62.1B	73.5B	70B	69.3B	64.6B
Total assets	97.7B	100.8B	103.3B	100.9B	105.2B	104.6B	103.7B	108.7B	124.3B	128.2B	124.5B	121.9B
Accounts payable	4.8B	2.3B	5.2B	5.2B	5.7B	2.2B	5.8B	6B	6.7B	2.5B	6.5B	6.7B
Short-term debt	6B	6.5B	5B	3.6B	3.7B	4.4B	3.5B	4.6B	5.4B	7.4B	6.1B	4.2B
Total current liabilities	11.1B	11.7B	10.7B	9.2B	9.8B	10.9B	10.2B	13.8B	14B	15.3B	13B	12.3B
Long-term debt	38.2B	43.1B	44.1B	46.1B	49.1B	51.9B	47.2B	48B	56.5B	61.8B	58.4B	58.2B
Total liabilities	63.8B	66.8B	70.6B	70.8B	75.7B	74.7B	73.9B	79B	89.8B	92.6B	90.3B	89.4B
Shareholders' equity	34B	34B	32.6B	30.1B	29.5B	29.9B	29.8B	29.6B	34.5B	35.5B	34.2B	32.5B
Total debt	44.1B	49.6B	49.1B	49.8B	52.8B	56.4B	50.8B	52.6B	61.9B	69.1B	64.5B	62.5B
Net debt	42.8B	47.9B	47.5B	48.4B	51.2B	54.4B	49.3B	50.3B	59.3B	67.1B	62B	59.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	528M	574M	806M	650M	904M	2.7B	1.4B	1.4B	1.7B	2.5B
Depreciation & amortization	447M	671M	801M	1.2B	1.7B	2B	2.2B	2.7B	3.6B	4B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	31M	-31M	176M	42M	284M	-190M	-445M	-124M	-213M	-131M
Operating cash flow	988M	1.3B	1.8B	1.9B	2.9B	4.8B	3.2B	4.1B	4.8B	6B
Capital expenditure	-683M	-667M	-816M	-1.1B	-1.4B	-2B	-2.7B	-2.3B	-4.4B	—
Investing cash flow	-915M	-5.7B	-5.6B	-11.4B	-4.6B	-1.2B	-3.4B	-13B	-6.9B	-7B
Dividends paid	-628M	-794M	-919M	-1B	-1.1B	-1.3B	-1.4B	-1.5B	-1.6B	-1.7B
Share repurchases	-6M	0	-30M	—	—	-12M	-243M	0	0	-190M
Financing cash flow	-1.8B	2.2B	2.8B	5.2B	-746M	-8.1B	-3.1B	3.2B	2.6B	7.8B
Net change in cash	-1.8B	-2.2B	-929M	-4.2B	-2.4B	-4.4B	-3.3B	-5.7B	501M	6.8B
Free cash flow	63M	767M	523M	961M	1.1B	705M	356M	1.6B	-322M	-53M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	256M	276M	814M	184M	234M	451M	526M	252M	750M	1B	148M	489M
Depreciation & amortization	669M	793M	936M	882M	854M	972M	960M	941M	1.1B	1.1B	1.1B	1.1B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	1.1B	1.1B	1.2B	1.1B	1.1B	1.4B	1.3B	1.2B	1.9B	2B	893M	1.5B
Capital expenditure	-616M	-713M	-1.5B	-862M	-865M	-1.2B	-798M	-960M	—	—	—	—
Investing cash flow	-6.1B	-1.2B	-2.2B	-1.2B	-2.3B	-1.2B	-104M	-460M	-8.1B	-57M	1B	733M
Dividends paid	-377M	-386M	-411M	-411M	-411M	-411M	-437M	-436M	-435M	-435M	-461M	-461M
Share repurchases	0	0	—	—	—	—	—	-116M	0	-79M	—	0
Financing cash flow	7.3B	-1.7B	583M	-76M	1.4B	261M	-2.5B	-942M	7.9B	3.2B	-667M	-693M
Net change in cash	2.3B	-1.8B	-329M	-179M	185M	371M	-1.3B	-225M	1.7B	5.2B	1.3B	1.5B
Free cash flow	484M	695M	-730M	66M	36M	306M	-2M	169M	-235M	15M	-1.2B	202M

Date	Ratio
Jun 13, 2022	3:2
Mar 31, 2020	112:100
Mar 30, 2020	1:1
Sep 15, 2016	3:2

Brookfield Infrastructure Partners L.P. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history