Saturday 17 October 2026 Export PBA’s income statement to Excel — free account

Pembina Pipeline Corp.

Pembina Pipeline Corp.’s revenue for fiscal 2025 (year ended December 2025) was $5.7 billion, up 6.08% from fiscal 2024. In the quarter to June 2026, revenue grew 20.0%, EPS grew 27.7%, free cash flow grew 8.94% and total debt rose 3.64%, each against the same quarter a year earlier.

50.10 1.91 +3.96%

Follow PBA

Alert me

Market cap: $28.0B
P/E: 24.4×
Fwd P/E: 22.9×
Dividend yield: 4.18%
F-score: 5/9
Altman Z: 1.35
Beneish M: −2.85
Dividend safety: 28/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.03%

Capital & Financial Ratios $m

Market Cap 28,020.00

Revenue 5,920.95

Net Income 1,277.48

Free Cash Flow 1,585.09

Net Debt 9,420.96

Current Ratio 0.62

Debt/Equity 0.77

P/E ratio 24.44

Fwd P/E 22.90

P/S ratio 4.92

P/B ratio 2.63

Past 5Y EPS Growth —

This Y EPS Growth 12.94%

Next Y EPS Growth 1.55%

Next Y revenue growth (63.25%)

Next 5Y EPS Growth 6.24%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 77.69%

10-year low 10-year high

P/S against its own 10 years 99.00%

10-year low 10-year high

P/B against its own 10 years 98.27%

10-year low 10-year high

EV/Sales against its own 10 years 98.67%

10-year low 10-year high

EV/FCF against its own 10 years 64.22%

10-year low 10-year high

Dividends

Payout Ratio 1.03

Annual Dividend Rate 2.09

Annual Dividend Yield 4.18%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.71	0.52 0.53 0.53
2025	0.72	0.48 0.52 0.52 0.52
2024	1.99	0.49 0.50 0.51 0.48
2023	1.97	0.47 0.50 0.49 0.50
2022	1.96	0.17 0.16 0.17 0.17 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16
2021	2.01	0.16 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.16
2020	1.88	0.16 0.16 0.15 0.15 0.15 0.15 0.16 0.16 0.16 0.16 0.16 0.16
2019	1.79	0.14 0.14 0.14 0.14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16
2018	1.87	0.15 0.14 0.14 0.14 0.15 0.14 0.14 0.15 0.15 0.15 0.14 0.14 0.14
2017	1.58	0.12 0.12 0.12 0.13 0.13 0.13 0.14 0.14 0.14 0.14 0.14 0.14
2016	1.55	0.11 0.11 0.12 0.13 0.12 0.12 0.13 0.12 0.12 0.12 0.12 0.12 0.12

predictions special payouts not included in total or ratios

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%)

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	17.88	30.32	28.30	29.13	10.58	23.85	29.54	28.15	32.81	34.13	Analyst estimates 2026–2028 Powerpack
	High	32.31	36.30	36.99	38.56	40.65	34.73	42.74	36.80	43.44	42.40
People
People	Employees	1,335	1,539	2,162	2,791	2,623	2,488	2,669	2,837	2,997	2,974
	Revenue/emp, $m	2.37	2.68	2.78	2.06	1.77	2.77	3.46	2.38	1.80	1.92
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
	Gross margin, %	23.87	25.59	29.89	31.93	32.38	30.68	26.03	31.12	44.91	39.98
	EBT	495	797	1,344	1,152	(311)	1,329	2,476	1,622	1,255	1,580
	EBT margin, %	15.62	19.36	22.38	20.05	(6.71)	19.30	26.83	23.99	23.29	27.63
	Net income	352	687	986	1,124	(236)	991	2,285	1,316	1,368	1,212
	Depreciation	221	282	322	385	523	577	525	491	629	706
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
	Earnings	0.77	1.44	1.77	2.00	(0.64)	1.60	3.95	2.20	2.19	1.91
	Cash flow	2.10	2.74	3.45	3.73	3.06	3.84	4.07	3.55	4.09	4.07
	Capex	(3.32)	(3.33)	(1.87)	(2.41)	(1.40)	(0.95)	(0.80)	(0.79)	(1.17)	(0.79)
	Free cash flow	(1.23)	(0.59)	1.58	1.32	1.66	2.89	3.28	2.76	2.93	3.27
	Book value	16.15	25.08	22.01	24.68	20.38	20.84	21.96	21.30	22.30	20.66
	Shares, m	388	426	505	512	550	550	553	550	573	581
Valuation, ×
Valuation, ×	P/E	40.69	25.75	16.86	18.13	0.00	19.32	8.34	15.42	16.80	20.03
	P/S	3.84	3.78	2.50	3.30	2.81	2.42	1.98	2.79	3.93	3.87
	P/B	2.37	1.77	1.62	1.82	1.44	1.76	1.75	1.87	1.89	2.05
	EV/Sales	4.82	5.14	3.44	4.61	4.55	3.72	2.85	3.92	5.62	5.44
	EV/FCF	(32.02)	(84.63)	25.84	39.33	23.06	16.11	14.50	17.46	18.07	16.36
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
	Capex	(1,290)	(1,417)	(942)	(1,234)	(768)	(525)	(442)	(436)	(669)	(462)
	Free cash flow	(477)	(250)	799	674	913	1,589	1,811	1,516	1,676	1,901
Balance, $m
Balance, $m	Working capital	(82)	(93)	(368)	(354)	(591)	(914)	(526)	(436)	(974)	(577)
	Total debt	3,135	5,829	5,815	7,651	8,119	8,968	8,154	7,778	9,236	9,081
	Net debt	3,102	5,578	5,652	7,523	8,040	8,922	8,014	7,635	9,124	8,995
	Shareholders’ equity	6,265	10,683	11,113	12,638	11,209	11,460	12,145	11,714	12,779	12,003
Returns, %
Returns, %	ROA	2.77	4.00	4.42	4.94	(1.47)	3.61	8.87	5.05	4.98	4.29
	ROIC	4.07	3.27	5.81	4.96	0.01	5.17	8.84	6.35	4.75	5.98
	ROE	5.90	8.91	9.85	11.44	(3.66)	9.49	21.97	11.89	11.80	10.10

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LNG Cheniere Energy, Inc.	$57.7B	21.4×	— (loss-making)	+23.51% (above 0%: growing)	+100.55% (above 0%: growing)	+452.21% (above 0%: growing)	83.04%	74.84%	Compare
OKE ONEOK, Inc.	$57.2B	16.1×	15.5×	+52.77% (above 0%: growing)	+14.18% (above 0%: growing)	+85.57% (above 0%: growing)	23.30%	13.22%	Compare
VG Venture Global, Inc.	$31.3B	9.4×	8.8×	+47.63% (above 0%: growing)	+260.00% (above 0%: growing)	−8.21% (below 0%: shrinking)	63.74%	47.79%	Compare
CQP Cheniere Energy Partners, L.P.	$30.1B	11.1×	16.9×	+5.21% (above 0%: growing)	+135.16% (above 0%: growing)	−11.63% (below 0%: shrinking)	59.74%	51.88%	Compare
PBA Pembina Pipeline Corp.	$28.0B	24.4×	22.9×	+19.97% (above 0%: growing)	+27.66% (above 0%: growing)	+8.94% (above 0%: growing)	43.36%	37.45%
PAGP Plains Group Holdings, L.P.	$20.7B	9.8×	15.6×	+66.26% (above 0%: growing)	+1,213.33% (above 0%: growing)	+50.93% (above 0%: growing)	4.57%	2.24%	Compare
WES Western Midstream Partners, LP	$18.2B	14.0×	12.6×	+29.97% (above 0%: growing)	+12.50% (above 0%: growing)	−36.19% (below 0%: shrinking)	90.41%	43.01%	Compare
PAA Plains All American Pipeline, L.P.	$17.7B	7.0×	13.5×	+66.26% (above 0%: growing)	+1,095.24% (above 0%: growing)	+50.92% (above 0%: growing)	4.57%	2.25%	Compare
VNOM Viper Energy Inc.	$15.7B	322×	18.4×	+127.95% (above 0%: growing)	+160.71% (above 0%: growing)	+146.15% (above 0%: growing)	100.00%	63.22%	Compare
Median of peers	$25.4B	12.6×	15.5×	+50.20%	+147.94%	+50.93%	61.74%	45.40%

All 58 Oil & Gas Midstream stocks →

Pembina Pipeline Corp. (PBA) key facts

Strength: Pembina Pipeline Corp.’s revenue for fiscal 2025 (year ended December 2025) was $5.7 billion, up 6.08% from fiscal 2024.
Pembina Pipeline Corp. (PBA) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, PBA traded at $50.10, a market capitalization of $28.0 billion.
Pembina Pipeline Corp. pays an annual dividend of $2.09 per share, a yield of 4.18%, with a payout ratio of 102.7%.
Return on equity was 10.1% and debt-to-equity 0.77.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 1.35 (distress zone) for fiscal 2025.