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Friday 6 November 2026 Export PBA’s income statement to Excel — free account

Pembina Pipeline Corp.

PBA Energy Oil & Gas Midstream

Pembina Pipeline Corp.’s revenue for fiscal 2025 (year ended December 2025) was $5.7 billion, up 6.08% from fiscal 2024.

Revenue
+20.0%
EPS
+27.7%
Free cash flow
+8.94%
Total debt
+3.64%

Quarter to June 2026, against a year earlier

47.81 0.92 −1.89%
Market cap
$27.7B
P/E
23.3×
Fwd P/E
23.2×
Dividend yield
4.38%
F-score
5/9
Altman Z
1.35
Beneish M
−2.85
Dividend safety
28/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.02%

Capital & Financial Ratios $m

Size
Market Cap 27,700.00
Revenue ttm 5,920.95
Net income ttm 1,277.48
Free cash flow ttm 1,585.09
Net debt Q 9,420.96
Valuation
P/E 23.32
Forward P/E 23.20
Price / sales 4.69
Forward P/S Powerpack
Price / FCF 17.52
Price / book 2.51
Financial health
Current ratio Q 0.62 (below 1: weak)
Debt / equity Q 0.77
Interest coverage Q 5.23
Growth
Revenue growth Q +19.97% (above 0%: growing)
Operating income growth Q +17.72% (above 0%: growing)
EPS, this year +14.13%
EPS, next year A +1.16%
Revenue, next year A −62.66% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +6.39%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.3×, against a ten-year median of 4.5×; over the ten years it ranged from 2.8× in 2022 to 6.6× in 2026.
P/E against its own 10 years 73.41%
10-year low 10-year high
P/S against its own 10 years 96.41%
10-year low 10-year high
P/B against its own 10 years 93.14%
10-year low 10-year high
EV/Sales against its own 10 years 96.26%
10-year low 10-year high
EV/FCF against its own 10 years 60.89%
10-year low 10-year high

Dividends raised 3 years running

Yield
4.38%
Annual rate
2.09
Payout ratio
102.7%
Growth, 2017–25
+3.26%/yr
  1. 1.58 ’17
  2. 1.87 ’18 +18
  3. 1.79 ’19 −4
  4. 1.88 ’20 +5
  5. 2.01 ’21 +7
  6. 1.96 ’22 −3
  7. 1.97 ’23 +0
  8. 1.99 ’24 +1
  9. 2.04 ’25 +2
  10. 0.72 ’26e −65
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 142 112 86 123
Receivables 1,562 816 612 796
Inventory 247 220 203 215
Other — — — —
1,951 1,148 901 1,133
2023 2024 2025 Q'26
Payables 842 877 945 842
ST’ Debt 482 1,113 429 867
Other 993 67 44 65
2,386 2,122 1,478 1,833

Compound Annual Growth %

10y 5y 3y
Sales 4.56% 4.31% (14.76%)
Cash Flow 14.17% 7.04% 1.60%
Earnings 14.83% 0.00% (20.24%)
Book Value 7.51% 1.38% (0.39%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.49 Actual 0.48

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.45 0.31 Miss by 0.14
Dec 2025 0.50 0.56 Beat by 0.06
Mar 2026 0.52 0.59 Beat by 0.07
Jun 2026 0.49 0.48 Miss by 0.01
Sep 2026 0.38 — Reports 5 November 2026

EPS $

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)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,535 1,554 — — —
’25 1,589 1,296 1,300 1,531 5,716
’24 1,142 1,355 1,352 1,540 5,389
’23 1,698 1,540 1,708 1,814 6,760
’22 2,399 2,424 2,129 2,279 9,230
’21 1,615 1,591 1,707 1,970 6,883
’20 1,402 962 1,224 1,042 4,630
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 244 646 — — —
’25 585 594 593 591 2,363
’24 323 692 679 651 2,346
’23 339 488 482 644 1,952
’22 517 469 566 701 2,253
’21 360 487 705 563 2,114
’20 306 453 357 566 1,681
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 109 488 — — —
’25 465 448 464 524 1,901
’24 188 515 494 479 1,676
’23 248 396 355 516 1,516
’22 376 370 472 593 1,811
’21 260 365 554 411 1,589
’20 (53) 313 205 448 913
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,167 4,117 6,005 5,742 4,630 6,883 9,230 6,760 5,389 5,716 5,921 +6.8% 2,135 2,188 2,232 (26.9%)
Gross margin, % 23.87 25.59 29.89 31.93 32.38 30.68 26.03 31.12 44.91 39.98 40.97 +16.1 pt
EBT 495 797 1,344 1,152 (311) 1,329 2,476 1,622 1,255 1,580 1,680 +13.8%
EBT margin, % 15.62 19.36 22.38 20.05 (6.71) 19.30 26.83 23.99 23.29 27.63 28.37 +12.0 pt
Net income 352 687 986 1,124 (236) 991 2,285 1,316 1,368 1,212 1,277 +14.7%
Per share, $
Per share, $ Revenue 8.16 9.66 11.89 11.22 8.42 12.52 16.69 12.29 9.40 9.84 10.19 +2.1%
Earnings 0.77 1.44 1.77 2.00 (0.64) 1.60 3.95 2.20 2.19 1.91 2.05 +10.6%
Cash flow 2.10 2.74 3.45 3.73 3.06 3.84 4.07 3.55 4.09 4.07 3.57 +7.6%
Capex (3.32) (3.33) (1.87) (2.41) (1.40) (0.95) (0.80) (0.79) (1.17) (0.79) (0.84) (14.7%)
Free cash flow (1.23) (0.59) 1.58 1.32 1.66 2.89 3.28 2.76 2.93 3.27 2.73 n/m
Book value 16.15 25.08 22.01 24.68 20.38 20.84 21.96 21.30 22.30 20.66 21.21 +2.8%
Shares, m 388 426 505 512 550 550 553 550 573 581 581 +4.6%
Valuation, ×
Valuation, × P/E 40.69 25.75 16.86 18.13 0.00 19.32 8.34 15.42 16.80 20.03 23.32 18.1
P/S 3.84 3.78 2.50 3.30 2.81 2.42 1.98 2.79 3.93 3.87 4.69 3.1
P/B 2.37 1.77 1.62 1.82 1.44 1.76 1.75 1.87 1.89 2.05 2.51 1.8
EV/Sales 4.82 5.14 3.44 4.61 4.55 3.72 2.85 3.92 5.62 5.44 6.28 4.4
EV/FCF (32.02) (84.63) 25.84 39.33 23.06 16.11 14.50 17.46 18.07 16.36 23.47 5.4
Cash, $m
Cash, $m Operating cash flow 813 1,167 1,741 1,908 1,681 2,114 2,253 1,952 2,346 2,363 2,074 +12.6%
Capex (1,290) (1,417) (942) (1,234) (768) (525) (442) (436) (669) (462) (489) (10.8%)
Free cash flow (477) (250) 799 674 913 1,589 1,811 1,516 1,676 1,901 1,585 n/m
Balance, $m
Balance, $m Working capital (82) (93) (368) (354) (591) (914) (526) (436) (974) (577) (700) +24.2%
Net debt 3,102 5,578 5,652 7,523 8,040 8,922 8,014 7,635 9,124 8,995 9,421 +12.6%
Shareholders’ equity 6,265 10,683 11,113 12,638 11,209 11,460 12,145 11,714 12,779 12,003 12,325 +7.5%
Returns, %
Returns, % ROA 2.77 4.00 4.42 4.94 (1.47) 3.61 8.87 5.05 4.98 4.29 4.60 +1.5 pt
ROIC 4.07 3.27 5.81 4.96 0.01 5.17 8.84 6.35 4.75 5.98 6.10 +1.9 pt
ROE 5.90 8.91 9.85 11.44 (3.66) 9.49 21.97 11.89 11.80 10.10 10.84 +4.2 pt
People
People Employees 1,335 1,539 2,162 2,791 2,623 2,488 2,669 2,837 2,997 2,974 — +9.3%
Revenue/emp, $m 2.37 2.68 2.78 2.06 1.77 2.77 3.46 2.38 1.80 1.92 — (2.3%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Pembina Pipeline Corp. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MPLX MPLX LP $57.3B 13.2× 14.0× −0.39% (below 0%: shrinking) −23.83% (below 0%: shrinking) −23.76% (below 0%: shrinking) 56.01% 40.94% Compare
OKE ONEOK, Inc. $54.4B 13.3× 15.2× +44.26% (above 0%: growing) +47.18% (above 0%: growing) −46.10% (below 0%: shrinking) 22.83% 12.59% Compare
VG Venture Global, Inc. $28.8B 8.6× 8.5× +47.63% (above 0%: growing) +260.00% (above 0%: growing) −8.21% (below 0%: shrinking) 63.74% 47.79% Compare
PBA Pembina Pipeline Corp. $27.7B 23.3× 23.2× +19.97% (above 0%: growing) +27.66% (above 0%: growing) +8.94% (above 0%: growing) 43.36% 37.45%
CQP Cheniere Energy Partners, L.P. $27.7B 9.3× 14.7× +7.07% (above 0%: growing) +65.03% (above 0%: growing) +16.72% (above 0%: growing) 39.59% 31.66% Compare
PAGP Plains Group Holdings, L.P. $20.1B 9.4× 9.6× +66.26% (above 0%: growing) +1,213.33% (above 0%: growing) +50.93% (above 0%: growing) 4.57% 2.24% Compare
PAA Plains All American Pipeline, L.P. $17.3B 6.8× 7.2× +66.26% (above 0%: growing) +1,095.24% (above 0%: growing) +50.92% (above 0%: growing) 4.57% 2.25% Compare
WES Western Midstream Partners, LP $16.5B 12.9× 12.5× +25.38% (above 0%: growing) −9.20% (below 0%: shrinking) +44.45% (above 0%: growing) 89.81% 38.65% Compare
VNOM Viper Energy Inc. $14.4B 18.1× 16.7× +58.13% (above 0%: growing) n/m +57.25% (above 0%: growing) 100.00% 60.36% Compare
Median of peers $23.9B 11.1× 13.3× +45.95% +65.03% +30.59% 47.80% 35.16%

All 57 Oil & Gas Midstream stocks →

Pembina Pipeline Corp. (PBA) Latest News

5 Nov

Impact 3 · · Business Wire

26 Oct

Impact 3 · · Zacks

7 Oct

Impact 3 · · Zacks
Impact 3 · · Simply Wall St.

5 Oct

Impact 4 · · Zacks

4 Oct

Impact 4 · · Simply Wall St.

1 Oct

Impact 4 · · Oilprice.com
Impact 4 · · Business Wire

15 Sep

Impact 3 ·

11 Aug

Impact 4 ·

31 Jul

Impact 4 · transcript
Impact 3 · · MarketBeat transcript

30 Jul

Impact 3 ·

15 Jul

Impact 3 · · financialpost.com

4 Jul

Impact 4 ·

3 Jul

Impact 4 ·
Impact 4 ·
Impact 4 · · power-technology.com
Impact 4 · · energymonitor.ai
Impact 3 · · offshore-technology.com

2 Jul

Impact 4 ·
Impact 4 ·
Impact 3 ·
Impact 3 · · financialpost.com

27 May

Impact 5 · · Simply Wall St.

26 May

Impact 4 · · offshore-technology.com
Impact 3 · · Zacks

25 May

Impact 4 · · MT Newswires
Impact 4 · · Business Wire

24 May

Impact 3 · · Simply Wall St.

PBA metrics, ten years each

stockrow.com/PBA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com