Latest Ratios: P/E Ratio -18.9x · EV/EBITDA 5.9x · ROE -11.6%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.7B | $5.4B | $4.8B | $5.0B | $4.4B | $5.0B | $3.3B | — | — | — |
| Enterprise Value | $17.5B | $18.2B | $16.4B | $16.6B | $8.5B | $8.2B | $7.7B | — | — | — |
| P/E Ratio → | -18.94 | — | — | 45.23 | 2.71 | — | — | — | — | — |
| P/S Ratio | 1.25 | 1.45 | 1.36 | 1.98 | 2.42 | 3.08 | 2.16 | — | — | — |
| P/B Ratio | 2.32 | 2.70 | 2.14 | 1.24 | — | — | — | — | — | — |
| P/FCF | 21.40 | 24.71 | 7.27 | — | — | 11.83 | 9.82 | — | — | — |
| P/OCF | 2.86 | 3.30 | 2.73 | 4.76 | 4.91 | 5.98 | 4.45 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.89 | 4.69 | 6.50 | 4.72 | 5.06 | 5.10 | — | — | — |
| EV / EBITDA | 5.89 | 6.14 | 5.75 | 8.04 | 5.98 | 6.37 | 6.33 | — | — | — |
| EV / EBIT | 7.64 | 8.10 | 11.45 | 9.62 | 3.67 | 11.44 | 29.06 | — | — | — |
| EV / FCF | — | 83.40 | 24.99 | — | — | 19.42 | 23.20 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.6% | 63.6% | 62.4% | 68.9% | 71.3% | 68.0% | 63.1% | 65.9% | 64.4% | 65.4% |
| Operating Margin | 61.5% | 61.5% | 60.4% | 66.2% | 67.6% | 65.0% | 60.8% | 64.1% | 62.9% | 63.5% |
| Net Profit Margin | -6.6% | -6.6% | -16.6% | 4.4% | 58.0% | -22.4% | -38.6% | 12.2% | 12.9% | 15.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -11.6% | -11.6% | -18.4% | 6.1% | — | — | -43.0% | 6.2% | 4.5% | 4.0% |
| ROA | -1.0% | -1.0% | -2.4% | 0.7% | 10.4% | -3.8% | -6.1% | 2.1% | 2.0% | 2.2% |
| ROIC | 12.0% | 12.0% | 10.7% | 13.1% | 32.9% | 28.1% | 13.1% | 12.2% | 10.4% | 9.3% |
| ROCE | 14.2% | 14.2% | 12.6% | 14.4% | 24.9% | 20.2% | 11.5% | 11.6% | 10.1% | 9.1% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.63 | 6.63 | 5.53 | 2.96 | — | — | — | 1.08 | 1.00 | 0.33 |
| Debt / EBITDA | 4.46 | 4.46 | 4.32 | 5.85 | 3.23 | 2.85 | 3.81 | 2.56 | 2.63 | 1.55 |
| Net Debt / Equity | — | 6.42 | 5.22 | 2.83 | — | — | — | 1.01 | 0.97 | 0.32 |
| Net Debt / EBITDA | 4.32 | 4.32 | 4.08 | 5.59 | 2.91 | 2.49 | 3.65 | 2.41 | 2.55 | 1.48 |
| Debt / FCF | — | 58.69 | 17.72 | — | — | 7.59 | 13.38 | 5.38 | 5.06 | — |
| Interest Coverage | 1.92 | 1.92 | 1.34 | 2.47 | 4.27 | 2.45 | 1.23 | 6.55 | 7.04 | 12.02 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.26 | 0.26 | 0.62 | 0.44 | 0.24 | 0.32 | 0.21 | 1.20 | 1.25 | 1.21 |
| Quick Ratio | 0.26 | 0.26 | 0.62 | 0.44 | 0.25 | 0.32 | 0.21 | 1.20 | 1.25 | 1.21 |
| Cash Ratio | 0.06 | 0.06 | 0.10 | 0.09 | 0.11 | 0.08 | 0.07 | 0.41 | 0.28 | 0.22 |
| Asset Turnover | — | 0.16 | 0.15 | 0.11 | 0.18 | 0.16 | 0.16 | 0.17 | 0.16 | 0.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 1.0% | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | 126.9% | 353.2% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 2.2% | 36.9% | — | — | — | — | — |
| FCF Yield | 4.7% | 4.0% | 13.8% | — | — | 8.5% | 10.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | — | — | — |
| Shares Outstanding | — | $119M | $119M | $143M | $113M | $110M | $67M | $70M | $70M | $70M |
High financial leverage sensitivity
As reported in financial statements, BIPC's forward P/E of 301.08 suggests that traditional earnings-based valuation metrics are currently distorted by non-cash accounting, necessitating a shift toward cash-flow-based multiples to accurately assess the company's market pricing relative to its regulated infrastructure asset base and inherent growth potential.
The extreme forward P/E multiple indicates that the market is not pricing BIPC on near-term net income, which is heavily impacted by depreciation and non-cash charges. Investors should monitor the valuation premium relative to its sister partnership, BIP, as the corporate structure of BIPC often commands a liquidity premium that may not be fully supported by the underlying regulated cash flows.
Based on the reported figures, BIPC maintains a debt-to-capital ratio of 0.88 as of 2026Q1, which underscores a highly leveraged capital structure that appears increasingly sensitive to interest rate fluctuations and the ongoing requirements of its regulated utility business model in competitive global markets.
The elevated debt-to-capital ratio, combined with an interest coverage ratio that has compressed to 1.70, suggests that the company's financial flexibility is currently constrained. This leverage profile warrants further investigation into the maturity schedule of the debt, as refinancing risks in a high-rate environment could materially impact the cash available for distribution.
According to quarterly financial data, the dividend payout ratio has exhibited significant volatility, reaching 112.7% in 2025Q1, which suggests that the company's ability to sustain payouts is heavily dependent on external financing and asset recycling rather than consistent internal free cash flow generation from its regulated assets.
The inconsistency in dividend coverage ratios highlights the tension between aggressive capital expenditure programs and the commitment to shareholder distributions. Investors should monitor whether the company can maintain its dividend policy without further reliance on equity issuance, especially given the current negative equity position on the balance sheet.
As indicated by the company's negative TTM P/E of -19.00, the standard price-to-earnings ratio is a fundamentally misapplied metric for BIPC, as it obscures the underlying cash-generating capacity of the regulated infrastructure assets by failing to account for significant non-cash depreciation and amortization charges.
Using P/E to value BIPC leads to erroneous conclusions regarding its profitability and valuation, as the metric is heavily distorted by the capital-intensive nature of utility accounting. Analysts should instead prioritize FFO or Adjusted EBITDA to better capture the true economic performance and cash-generating power of the company's regulated transmission and distribution networks.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying BIPC stock.
Brookfield Infrastructure Corporation's current P/E ratio is -18.9x. The historical average is 24.0x.
Brookfield Infrastructure Corporation's current EV/EBITDA is 5.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.4x.
Brookfield Infrastructure Corporation's return on equity (ROE) is -11.6%. The historical average is -7.5%.
Based on historical data, Brookfield Infrastructure Corporation is trading at a P/E of -18.9x. Compare with industry peers and growth rates for a complete picture.
Brookfield Infrastructure Corporation has 63.6% gross margin and 61.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Brookfield Infrastructure Corporation's Debt/EBITDA ratio is 4.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.