Latest Ratios: P/E Ratio 38.1x · EV/EBITDA 8.0x · ROE 1.4%. (2007–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17.2B | $16.0B | $14.7B | $14.5B | $14.2B | $18.0B | $14.6B | $12.8B | $8.6B | $10.7B | $7.4B |
| Enterprise Value | $78.5B | $77.3B | $69.0B | $62.4B | $46.9B | $49.9B | $41.0B | $35.1B | $23.3B | $20.5B | $15.0B |
| P/E Ratio → | 38.07 | 35.45 | 264.92 | 143.14 | 405.63 | 36.85 | 143.17 | 641.33 | 53.05 | — | 26.75 |
| P/S Ratio | 0.75 | 0.69 | 0.70 | 0.81 | 0.98 | 1.56 | 1.64 | 1.94 | 1.85 | 3.01 | 3.48 |
| P/B Ratio | 0.48 | 0.45 | 0.49 | 0.43 | 0.56 | 0.68 | 0.67 | 0.58 | 0.59 | 0.79 | 0.76 |
| P/FCF | — | — | — | — | 39.88 | 25.59 | — | — | — | — | — |
| P/OCF | 2.89 | 2.68 | 3.15 | 3.55 | 4.53 | 6.51 | 5.75 | 5.99 | 6.31 | 7.20 | 9.78 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.35 | 3.28 | 3.48 | 3.25 | 4.33 | 4.62 | 5.31 | 5.00 | 5.79 | 7.09 |
| EV / EBITDA | 8.00 | 7.87 | 8.03 | 9.19 | 8.31 | 10.14 | 10.41 | 11.99 | 10.47 | 16.45 | 16.92 |
| EV / EBIT | 13.55 | 11.06 | 13.83 | 14.57 | 13.27 | 10.92 | 18.36 | 20.04 | 13.58 | 18.35 | 16.08 |
| EV / FCF | — | — | — | — | 131.70 | 70.80 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.9% | 26.9% | 25.5% | 24.9% | 27.2% | 28.5% | 26.3% | 30.1% | 52.5% | 57.3% | 49.7% |
| Operating Margin | 25.1% | 25.1% | 23.6% | 22.6% | 24.1% | 25.0% | — | 25.9% | 30.5% | 16.2% | 20.8% |
| Net Profit Margin | 1.9% | 1.9% | 1.7% | 2.0% | 2.4% | 6.6% | 3.6% | 3.2% | 4.1% | 3.5% | 17.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.4% | 1.4% | 1.1% | 1.2% | 1.3% | 3.2% | 1.5% | 1.1% | 1.4% | 1.1% | 4.4% |
| ROA | 0.4% | 0.4% | 0.3% | 0.4% | 0.5% | 1.1% | 0.6% | 0.5% | 0.6% | 0.5% | 1.9% |
| ROIC | 4.8% | 4.8% | 4.5% | 4.3% | 4.5% | 4.1% | — | 3.5% | 4.0% | 2.1% | 2.1% |
| ROCE | 5.3% | 5.3% | 5.4% | 5.3% | 5.4% | 4.8% | — | 4.0% | 4.6% | 2.4% | 2.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.82 | 1.82 | 1.89 | 1.46 | 1.32 | 1.25 | 1.25 | 1.03 | 1.03 | 0.75 | 0.86 |
| Debt / EBITDA | 6.57 | 6.57 | 6.55 | 7.30 | 6.00 | 6.73 | 6.91 | 7.84 | 6.80 | 8.16 | 9.40 |
| Net Debt / Equity | — | 1.73 | 1.82 | 1.41 | 1.28 | 1.21 | 1.22 | 1.00 | 1.00 | 0.73 | 0.79 |
| Net Debt / EBITDA | 6.24 | 6.24 | 6.32 | 7.06 | 5.79 | 6.48 | 6.72 | 7.60 | 6.60 | 7.89 | 8.60 |
| Debt / FCF | — | — | — | — | 91.83 | 45.21 | — | — | — | — | — |
| Interest Coverage | 1.81 | 1.81 | 1.64 | 1.71 | 2.21 | 3.69 | 1.89 | 1.93 | 3.09 | 2.61 | 2.38 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.48 | 2.48 | 0.88 | 0.68 | 0.80 | 0.57 | 0.67 | 1.07 | 0.94 | 1.15 | 1.08 |
| Quick Ratio | 2.48 | 2.48 | 0.84 | 0.64 | 0.73 | 0.52 | 0.63 | 1.03 | 0.88 | 1.07 | 1.01 |
| Cash Ratio | 2.48 | 2.48 | 0.22 | 0.21 | 0.27 | 0.21 | 0.24 | 0.16 | 0.28 | 0.37 | 0.49 |
| Asset Turnover | — | 0.18 | 0.20 | 0.18 | 0.20 | 0.16 | 0.14 | 0.12 | 0.13 | 0.12 | 0.10 |
| Inventory Turnover | — | — | 34.53 | 26.31 | 19.79 | 20.62 | 29.63 | 19.05 | 15.66 | 13.97 | 10.52 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.2% | 10.9% | 11.2% | 10.5% | 10.0% | 7.0% | 7.8% | 8.0% | 10.7% | 7.5% | 8.5% |
| Payout Ratio | 388.2% | 388.2% | 468.4% | 413.1% | 415.8% | 164.1% | 350.0% | 486.7% | 478.6% | 640.3% | 170.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 2.8% | 0.4% | 0.7% | 0.2% | 2.7% | 0.7% | 0.2% | 1.9% | — | 3.7% |
| FCF Yield | — | — | — | — | 2.5% | 3.9% | — | — | — | — | — |
| Buyback Yield | 1.1% | 1.2% | 0.0% | 0.1% | 1.7% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |
| Total Shareholder Yield | 11.3% | 12.1% | 11.2% | 10.6% | 11.7% | 7.0% | 7.8% | 8.0% | 10.7% | 7.5% | 8.6% |
| Shares Outstanding | — | $460M | $462M | $459M | $458M | $445M | $442M | $428M | $415M | $397M | $367M |
Asset recycling liquidity dependence
According to current market data, BIP trades at a 10.4% dividend yield, which significantly exceeds traditional utility benchmarks and suggests that investors are demanding a substantial risk premium to compensate for the firm's complex, debt-heavy capital structure and reliance on non-recurring asset recycling proceeds for growth.
The elevated yield appears to reflect market skepticism regarding the sustainability of distributions in a higher-rate environment. Investors should monitor whether the forward P/E of 29.58 is justified by organic growth or if it remains anchored to the volatility of fair-value accounting adjustments.
Based on reported quarterly figures, the debt-to-capital ratio has consistently hovered near 0.65, indicating a high degree of structural leverage that leaves the firm with limited cushion to absorb potential valuation compression within its diverse global infrastructure portfolio during periods of macro-economic volatility.
The interest coverage ratio of 1.52x in 2026Q1 highlights a narrowing margin of safety, suggesting that the firm's ability to service its debt obligations is increasingly sensitive to interest rate fluctuations. This leverage profile warrants further investigation into the recourse nature of the debt held at the project level.
As reported in financial statements, the dividend payout ratio has shown extreme volatility, ranging from 2.1% to 16.8% over the last ten quarters, which implies that the distribution is not strictly funded by recurring operating cash flow but rather by the timing of opportunistic asset divestitures.
The reliance on capital recycling to support the dividend suggests that the payout may be vulnerable if the secondary market for infrastructure assets experiences a liquidity freeze. Analysts should interpret the dividend yield as a reflection of management's capital allocation strategy rather than a stable utility-like payout.
As noted in institutional research, the P/E ratio is the most commonly misapplied metric for BIP, as it fails to account for the heavy non-cash depreciation charges and fair value adjustments that distort net income, thereby obscuring the firm's true underlying cash-generating capacity.
Investors should prioritize FFO per unit over P/E to better assess the firm's performance, as the latter ignores the unique accounting treatment of long-life infrastructure assets. Relying on standard P/E multiples likely leads to an inaccurate assessment of the company's valuation relative to its peers.
Includes 30+ ratios · 19 years · Updated daily
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Quick answers to the most common questions about buying BIP stock.
Brookfield Infrastructure Partners L.P.'s current P/E ratio is 38.1x. The historical average is 51.1x. This places it at the 62th percentile of its historical range.
Brookfield Infrastructure Partners L.P.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
Brookfield Infrastructure Partners L.P.'s return on equity (ROE) is 1.4%. The historical average is 10.6%.
Based on historical data, Brookfield Infrastructure Partners L.P. is trading at a P/E of 38.1x. This is at the 62th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Brookfield Infrastructure Partners L.P.'s current dividend yield is 10.15% with a payout ratio of 388.2%.
Brookfield Infrastructure Partners L.P. has 26.9% gross margin and 25.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Brookfield Infrastructure Partners L.P.'s Debt/EBITDA ratio is 6.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.