Enbridge Inc.

DB:EN3 Stock Report

Market Cap: €93.6b

Enbridge Valuation

Is EN3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EN3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€68.11
Fair Value
37.2% undervalued intrinsic discount
21
Number of Analysts

Below Fair Value: EN3 (€42.77) is trading below our estimate of fair value (€68.11)

Significantly Below Fair Value: EN3 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EN3?

Key metric: As EN3 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EN3. This is calculated by dividing EN3's market cap by their current earnings.
What is EN3's PE Ratio?
PE Ratio22x
EarningsCA$6.29b
Market CapCA$138.11b

Price to Earnings Ratio vs Peers

How does EN3's PE Ratio compare to its peers?

The above table shows the PE ratio for EN3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.5x
VH2 Friedrich Vorwerk Group
24.4x13.0%€687.0m
WMB Williams Companies
23.7x5.3%US$68.3b
KMI Kinder Morgan
23x10.2%US$59.5b
ET Energy Transfer
14.9x11.8%US$69.7b
EN3 Enbridge
22x3.2%€138.1b

Price-To-Earnings vs Peers: EN3 is expensive based on its Price-To-Earnings Ratio (22x) compared to the peer average (21.5x).

Price to Earnings Ratio vs Industry

How does EN3's PE Ratio compare vs other companies in the European Oil and Gas Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EN3 22.0xIndustry Avg. 9.0xNo. of Companies17PE0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EN3 is expensive based on its Price-To-Earnings Ratio (22x) compared to the European Oil and Gas industry average (8.9x).

Price to Earnings Ratio vs Fair Ratio

What is EN3's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EN3 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22x
Fair PE Ratio20.7x

Price-To-Earnings vs Fair Ratio: EN3 is expensive based on its Price-To-Earnings Ratio (22x) compared to the estimated Fair Price-To-Earnings Ratio (20.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EN3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€42.77
€42.23
-1.3%
8.0%€50.47€34.99n/a21
Feb ’26€42.30
€41.53
-1.8%
7.9%€49.94€34.62n/a21
Jan ’26€40.07
€40.85
+2.0%
7.4%€48.19€34.80n/a20
Dec ’25€40.95
€40.57
-0.9%
6.5%€46.14€35.29n/a20
Nov ’25€37.19
€38.28
+2.9%
5.9%€42.32€33.06n/a20
Oct ’25€37.19
€36.85
-0.9%
5.2%€40.42€33.13n/a19
Sep ’25€36.00
€36.81
+2.3%
5.1%€40.57€33.25n/a19
Aug ’25€34.64
€36.18
+4.4%
6.6%€40.68€31.34n/a19
Jul ’25€33.00
€36.87
+11.7%
6.4%€41.62€32.07n/a19
Jun ’25€33.31
€36.43
+9.4%
6.7%€41.22€30.41n/a22
May ’25€33.43
€36.31
+8.6%
7.1%€40.92€30.69n/a22
Apr ’25€33.40
€36.29
+8.7%
7.1%€40.84€30.63n/a22
Mar ’25€31.72
€36.31
+14.5%
7.4%€40.94€29.34n/a22
Feb ’25€33.18
€36.74
+10.7%
8.0%€42.68€29.60€42.3021
Jan ’25€32.50
€35.56
+9.4%
10.4%€41.71€27.63€40.0719
Dec ’24€32.43
€35.33
+8.9%
10.0%€40.71€27.53€40.9519
Nov ’24€30.48
€35.44
+16.3%
11.2%€40.88€27.53€37.1919
Oct ’24€31.67
€38.57
+21.8%
9.6%€45.10€28.48€37.1918
Sep ’24€32.26
€38.52
+19.4%
5.7%€42.81€35.34€36.0019
Aug ’24€33.27
€39.72
+19.4%
6.4%€44.55€35.64€34.6419
Jul ’24€34.27
€40.46
+18.1%
6.4%€45.01€36.01€33.0019
Jun ’24€33.10
€39.88
+20.5%
5.9%€44.54€35.64€33.3120
May ’24€36.14
€38.86
+7.5%
6.1%€43.48€34.78€33.4320
Apr ’24€35.34
€39.85
+12.8%
6.4%€44.66€35.73€33.4020
Mar ’24€35.80
€40.01
+11.8%
6.4%€44.84€35.87€31.7221
Feb ’24€37.00
€40.13
+8.5%
6.8%€44.94€35.95€33.1821
Analyst Price Target
Consensus Narrative from 21 Analysts
€42.26
Fair Value
1.2% overvalued intrinsic discount
21
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/07 17:32
End of Day Share Price 2025/02/07 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Enbridge Inc. is covered by 47 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harshit GuptaAccountability Research Corporation
null nullArgus Research Company
John EadeArgus Research Company