| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 0.71 |
—
—
—
|
| 2025 | 0.72 |
—
—
—
—
|
| 2024 | 1.99 |
—
—
—
—
|
| 2023 | 1.97 |
—
—
—
—
|
| 2022 | 1.96 |
—
—
—
—
—
—
—
—
—
—
—
—
|
| 2021 | 2.01 |
—
—
—
—
—
—
—
—
—
—
—
—
|
| 2020 | 1.88 |
—
—
—
—
—
—
—
—
—
—
—
—
|
| 2019 | 1.79 |
—
—
—
—
—
—
—
—
—
—
—
—
|
| 2018 | 1.87 |
—
—
—
—
—
—
—
—
—
—
—
—
—
|
| 2017 | 1.58 |
—
—
—
—
—
—
—
—
—
—
—
—
|
| 2016 | 1.55 |
—
—
—
—
—
—
—
—
—
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 142.23 | 112.39 | 85.88 | 122.79 |
| Receivables | 1,561.61 | 815.92 | 611.92 | 795.97 |
| Inventory | 246.69 | 219.67 | 203.26 | 214.52 |
| Other | — | — | — | — |
| 1,950.53 | 1,147.98 | 901.07 | 1,133.29 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 841.55 | 877.22 | 945.44 | 842.20 |
| ST’ Debt | 481.52 | 1,112.95 | 429.42 | 866.76 |
| Other | 992.67 | 67.14 | 43.66 | 65.01 |
| 2,386.12 | 2,122.26 | 1,477.92 | 1,833.20 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,535.06 | 1,554.39 | — | — |
—
|
| ’25 | 1,589.19 | 1,295.62 | 1,300.09 | 1,531.41 |
5,716.30
|
| ’24 | 1,141.60 | 1,355.45 | 1,351.65 | 1,540.14 |
5,388.84
|
| ’23 | 1,697.94 | 1,539.67 | 1,708.23 | 1,813.96 |
6,759.80
|
| ’22 | 2,398.81 | 2,423.70 | 2,129.27 | 2,278.63 |
9,230.40
|
| ’21 | 1,615.14 | 1,590.95 | 1,707.17 | 1,970.23 |
6,883.48
|
| ’20 | 1,401.92 | 961.76 | 1,224.39 | 1,041.73 |
4,629.79
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 244.18 | 645.69 | — | — |
—
|
| ’25 | 584.98 | 593.51 | 592.71 | 591.33 |
2,362.53
|
| ’24 | 323.21 | 692.47 | 679.02 | 650.88 |
2,345.58
|
| ’23 | 338.55 | 487.81 | 481.64 | 644.01 |
1,952.01
|
| ’22 | 517.19 | 468.73 | 566.40 | 700.67 |
2,252.99
|
| ’21 | 360.15 | 486.62 | 704.70 | 562.97 |
2,114.44
|
| ’20 | 305.74 | 453.28 | 356.52 | 565.58 |
1,681.12
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 109.34 | 488.01 | — | — |
—
|
| ’25 | 465.20 | 447.95 | 463.88 | 523.87 |
1,900.90
|
| ’24 | 187.55 | 515.38 | 494.06 | 479.36 |
1,676.35
|
| ’23 | 248.37 | 395.76 | 355.32 | 516.23 |
1,515.68
|
| ’22 | 375.85 | 370.44 | 471.96 | 593.21 |
1,811.47
|
| ’21 | 259.84 | 364.65 | 553.60 | 411.32 |
1,589.42
|
| ’20 | (52.94) | 312.68 | 204.94 | 448.29 |
912.97
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.58 | 0.59 | — | — |
—
|
| ’25 | 0.56 | 0.47 | 0.31 | 0.56 |
1.90
|
| ’24 | 0.54 | 0.55 | 0.44 | 0.66 |
2.19
|
| ’23 | 0.45 | 0.45 | 0.42 | 0.89 |
2.20
|
| ’22 | 0.64 | 0.54 | 2.48 | 0.29 |
3.94
|
| ’21 | 0.39 | 0.32 | 0.80 | 0.06 |
1.59
|
| ’20 | 0.37 | 0.28 | 0.38 | (1.75) |
(0.64)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 29.54 | 28.15 | 32.81 | 34.13 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 42.74 | 36.80 | 43.44 | 42.40 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,669 | 2,837 | 2,997 | 2,974 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.46 | 2.38 | 1.80 | 1.92 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9,230.40 | 6,759.80 | 5,388.84 | 5,716.30 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.03% | 31.12% | 44.91% | 39.98% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,476.06 | 1,621.61 | 1,255.26 | 1,579.55 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.83% | 23.99% | 23.29% | 27.63% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,285.29 | 1,315.66 | 1,367.65 | 1,212.40 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 525.36 | 491.15 | 629.09 | 706.40 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.69 | 12.29 | 9.40 | 9.84 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | 3.95 | 2.20 | 2.19 | 1.91 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.07 | 3.55 | 4.09 | 4.07 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.80) | (0.79) | (1.17) | (0.79) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.28 | 2.76 | 2.93 | 3.27 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.96 | 21.30 | 22.30 | 20.66 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 553.00 | 550.00 | 573.00 | 581.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 8.34 | 15.42 | 16.80 | 20.03 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.98 | 2.79 | 3.93 | 3.87 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.75 | 1.87 | 1.89 | 2.05 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.85 | 3.92 | 5.62 | 5.44 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.50 | 17.46 | 18.07 | 16.36 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,252.99 | 1,952.01 | 2,345.58 | 2,362.53 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (441.52) | (436.33) | (669.23) | (461.63) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,811.47 | 1,515.68 | 1,676.35 | 1,900.90 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (526.13) | (435.59) | (974.28) | (576.85) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,153.52 | 7,777.66 | 9,236.35 | 9,080.80 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,014.29 | 7,635.43 | 9,123.96 | 8,994.92 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12,144.90 | 11,714.27 | 12,778.80 | 12,003.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.87% | 5.05% | 4.98% | 4.29% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.84% | 6.35% | 4.75% | 5.98% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.97% | 11.89% | 11.80% | 10.10% | — | — | — |
ROE
|
Pembina Pipeline Corporation (PBA), a cornerstone midstream operator in Western Canada, has marketed itself as a resilient toll-taker amid energy volatility, but its track record reveals stark cyclical swings—from a 2020 COVID-induced revenue plunge of 19% and negative EPS to a 2022 peak fueled by post-pandemic demand and Ukraine tensions. Shares now hover near $44 highs in early 2026, buoyed by high yields, yet analyst consensus points to 5% downside, with red flags like ballooning debt (net debt up 195% since 2016 to $9.12 billion), insider silence, and projections of revenues halving to $2.04 billion in 2025 amid maturing basins and new competition from the Trans Mountain Expansion.
While gross margins have impressively expanded to 44.9% through cost discipline, EPS has halved from 2022’s $3.95 to $2.19 by 2024, with forecasts cratering 69% to $0.69 in 2025 due to lower volumes and persistent capex. Free cash flow supports dividends for now, but a debt-to-equity ratio over 70%, negative working capital, and ROIC dipping to 4.75% signal leverage risks in a high-rate environment, echoing historical midstream pitfalls during downturns.
This contrarian lens questions PBA’s premium valuation (PS at 3.9x, EV/Sales 5.6x) amid fading momentum—revenues down 42% from peak, no insider trades, and threats from energy transition and geopolitics. Is it a yield trap or overlooked rebound play via LNG ramps? The data urges caution before chasing pipeline promises.
Keep track of companies that you follow and research.
Full access to our data with predictions and indicators that we calculate daily.
Full access to our screener with tons of custom values and customizable email notifications.
Excel export of financials and screeners you define and save.