Brookfield Infrastructure Partners L.P. (BIP) 10-Year Financial Performance & Capital Metrics

BIP • • Utilities

UtilitiesDiversified UtilitiesInternational Diversified UtilitiesGlobal Infrastructure & Utilities

AboutBrookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services. This segment also offers heating and cooling solutions; gas distribution; water heaters; and heating, ventilation, and air conditioner rental, as well as other home services. Its Transport segment offers transportation, storage, and handling services for merchandise goods, commodities, and passengers through a network of approximately 22,000 km of track; 5,500 km of track network; 4,800 km of rail; 3,800 km of motorways; and 13 port terminals. The company's Midstream segment offers natural gas transmission, gathering and processing, and storage services through approximately 15,000 km of natural gas transmission pipelines; 600 billion cubic feet of natural gas storage; 17 natural gas processing plants; and 3,900 km of gas gathering pipelines, as well as one petrochemical processing complex. Its Data segment operates approximately 148,000 operational telecom towers; 8,000 multi-purpose towers and active rooftop sites; 10,000 km of fiber backbone; 1,600 cell sites and approximately 12,000 km of fiber optic cable; and 2,100 active telecom towers and 70 distributed antenna systems, as well as 50 data centers and 200 megawatts of critical load capacity. The company was founded in 2007 and is based in Hamilton, Bermuda. Brookfield Infrastructure Partners L.P. is a subsidiary of Brookfield Asset Management Inc.Show more

Revenue $21.04B +17.3%
EBITDA $8.6B +26.7%
Net Income $351M -4.4%
Free Cash Flow -$322M +96.4%
EBITDA Margin 40.89% +8.0%
Net Margin 1.67% -18.5%
ROE 1.1% -10.8%
Interest Coverage 1.63 +0.8%
Debt/Equity 1.89 +29.5%
Net Debt/EBITDA 6.32 -10.5%
CapEx / Revenue 23.65% -67.4%
CapEx Coverage 0.94 +197.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓14 years of consecutive dividend growth
✓14 consecutive years of dividend growth
✓Trading near 52-week high
✓Trading at only 0.5x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.2%
✗High leverage: 6.6x Debt/EBITDA
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y27.02%

5Y26.11%

3Y22.17%

TTM8.14%

Profit (Net Income) CAGR

10Y9.24%

5Y10.71%

3Y-22.91%

TTM433.77%

EPS CAGR

10Y-8.76%

5Y20.77%

3Y-53.06%

TTM699.17%

ROCE

10Y Avg4.16%

5Y Avg5.21%

3Y Avg5.35%

Latest5.43%

Peer Comparison

Global Infrastructure & Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BIPBrookfield Infrastructure Partners L.P.	16.07B	34.83	290.25	17.33%	3.62%	2.34%		1.89
AESThe AES Corporation	10.28B	14.44	6.12	-3.14%	9.38%	10.78%		3.77

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.85B	2.12B	3.54B	4.65B	6.6B	8.88B	11.54B	14.43B	17.93B	21.04B
Revenue Growth %	-0.04%	0.14%	0.67%	0.32%	0.42%	0.35%	0.3%	0.25%	0.24%	0.17%
Cost of Revenue	798M	1.06B	1.51B	2.21B	4.61B	6.55B	8.25B	10.51B	13.47B	15.68B
Gross Profit+	1.06B	1.05B	2.03B	2.44B	1.99B	2.34B	3.29B	3.92B	4.46B	5.36B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.02%	-0%	0.93%	0.21%	-0.19%	0.18%	0.41%	0.19%	0.14%	0.2%
Operating Expenses+	509M	613M	910M	1.02B	279M	2.34B	406M	433M	413M	405M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	923M	886M	1.25B	2.22B	2.92B	3.94B	4.92B	5.64B	6.79B	8.6B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-0.04%	-0.04%	0.41%	0.78%	0.32%	0.35%	0.25%	0.15%	0.2%	0.27%
Depreciation & Amortization+	375M	447M	671M	801M	1.21B	1.71B	2.04B	2.16B	2.74B	3.64B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	548M	439M	574M	1.42B	1.71B	0	2.88B	3.48B	4.05B	4.96B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.06%	-0.2%	0.31%	1.47%	0.2%	-1%	-	0.21%	0.16%	0.22%
Interest Expense+	367M	392M	428M	555M	904M	1.18B	1.24B	1.6B	2.5B	3.04B
Interest Coverage	1.49x	1.12x	1.34x	2.56x	1.89x	-	2.33x	2.18x	1.62x	1.63x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K
Pretax Income+	387M	543M	747M	1.17B	928M	1.2B	3.33B	1.94B	2.03B	1.95B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-4M	15M	173M	364M	278M	291M	614M	560M	581M	270M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	169M	369M	124M	192M	211M	324M	766M	341M	367M	351M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.17%	1.18%	-0.66%	0.55%	0.1%	0.54%	1.36%	-0.55%	0.08%	-0.04%
EPS (Diluted)+	0.46	0.75	-0.03	0.39	0.05	0.23	1.16	0.14	0.22	0.12
EPS Growth %	0.53%	0.63%	-1.04%	15.61%	-0.88%	3.93%	4.04%	-0.88%	0.57%	-0.45%
EPS (Basic)	0.46	0.75	-0.03	0.39	0.05	0.23	1.16	0.14	0.22	0.12
Diluted Shares Outstanding	358.35M	367.05M	396.9M	415.35M	428.4M	442.05M	445.05M	458.1M	459.4M	461.6M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	17.73B	21.27B	29.48B	36.58B	56.31B	61.33B	73.96B	72.97B	100.78B	104.59B
Asset Growth %	0.08%	0.2%	0.39%	0.24%	0.54%	0.09%	0.21%	-0.01%	0.38%	0.04%
PP&E (Net)+	7.63B	8.66B	9.94B	12.81B	23.01B	31.58B	38.66B	37.29B	48.55B	50.85B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	1.55B	1.63B	1.51B	2.28B	5.84B	3.71B	4.9B	6.69B	7.98B	9.61B
Cash & Equivalents	199M	702M	341M	444M	699M	742M	1.25B	1.14B	1.64B	1.98B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	13M	101M	108M	141M	242M	221M	400M	531M	512M	454M
Other Current Assets	662M	216M	43M	219M	2.71B	181M	439M	1.55B	1.29B	2.85B
Long-Term Investments	3.96B	4.79B	5.62B	4.7B	5.07B	5.63B	4.97B	5.8B	5.81B	6.06B
Goodwill	79M	502M	1.3B	3.86B	6.55B	6.63B	8.98B	8.79B	14.49B	14.1B
Intangible Assets	3.3B	4.46B	9.89B	11.63B	14.39B	11.77B	14.21B	11.82B	15.85B	14.52B
Other Assets	1.14B	1.16B	1.14B	1.22B	1.33B	1.88B	2.08B	2.47B	8.01B	9.34B
Total Liabilities	10.56B	11.63B	16B	21.91B	34.13B	39.66B	47.57B	47.41B	66.77B	74.74B
Total Debt+	7.23B	8.33B	10.16B	15.11B	22.92B	27.2B	33.12B	33.83B	49.57B	56.35B
Net Debt	7.03B	7.62B	9.82B	14.66B	22.22B	26.46B	31.87B	32.69B	47.93B	54.37B
Long-Term Debt	6.93B	7.75B	9.7B	14.12B	19.74B	21.71B	26.15B	27.23B	39.89B	47.44B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	1.8B	3.8B	3.84B	3.42B	3.63B	5.12B
Total Current Liabilities+	275M	1.51B	1.31B	2.42B	5.44B	5.52B	8.66B	8.38B	11.71B	10.9B
Accounts Payable	196M	266M	864M	463M	973M	1.46B	1.88B	1.87B	2.25B	2.15B
Accrued Expenses	149M	274M	400M	585M	653M	751M	1.1B	1.4B	1.73B	1.81B
Deferred Revenue	114M	108M	159M	154M	307M	256M	338M	460M	490M	581M
Other Current Liabilities	449M	293M	-322M	230M	1.93B	1.17B	1.79B	1.09B	752M	1.95B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	744M	459M	1.59B	1.63B	2.48B	3.75B	2.96B	2.54B	3.61B	3.79B
Total Equity+	7.18B	9.64B	13.47B	14.67B	22.18B	21.67B	26.39B	25.55B	34.02B	29.85B
Equity Growth %	0.14%	0.34%	0.4%	0.09%	0.51%	-0.02%	0.22%	-0.03%	0.33%	-0.12%
Shareholders Equity	4.03B	4.99B	5.56B	5.45B	5.98B	5.36B	6.84B	6.29B	6.24B	5.62B
Minority Interest	3.15B	4.66B	7.91B	9.22B	16.19B	16.31B	19.55B	19.26B	27.78B	24.23B
Common Stock	3.72B	4.21B	4.91B	4.91B	5.5B	5.53B	6.07B	6.09B	6.2B	6.21B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	-559M	-483M	-953M	-856M	-1.43B	-2.29B	-2.13B	-2.66B	-3.25B	-3.98B
Accumulated OCI	681M	879M	1.01B	458M	983M	992M	1.75B	1.94B	2.37B	2.48B
Return on Assets (ROA)	0.01%	0.02%	0%	0.01%	0%	0.01%	0.01%	0%	0%	0%
Return on Equity (ROE)	0.03%	0.04%	0.01%	0.01%	0.01%	0.01%	0.03%	0.01%	0.01%	0.01%
Debt / Equity	1.01x	0.86x	0.75x	1.03x	1.03x	1.25x	1.25x	1.32x	1.46x	1.89x
Debt / Assets	0.41%	0.39%	0.34%	0.41%	0.41%	0.44%	0.45%	0.46%	0.49%	0.54%
Net Debt / EBITDA	7.62x	8.60x	7.89x	6.60x	7.60x	6.72x	6.48x	5.79x	7.06x	6.32x
Book Value per Share	20.03	26.27	33.95	35.31	51.77	49.03	59.3	55.78	74.04	64.67

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	634M	753M	1.48B	1.36B	2.14B	2.53B	2.77B	3.13B	4.08B	4.65B
Operating CF Growth %	-0.07%	0.19%	0.97%	-0.08%	0.57%	0.18%	0.1%	0.13%	0.3%	0.14%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	391M	528M	574M	806M	650M	904M	2.72B	1.38B	1.45B	1.68B
Depreciation & Amortization	375M	447M	671M	801M	1.21B	1.71B	2.04B	2.16B	2.74B	3.64B
Deferred Taxes	-26M	-18M	67M	46M	28M	54M	240M	86M	5M	-324M
Other Non-Cash Items	-26M	-249M	38M	-167M	183M	87M	-1.7B	416M	524M	-124M
Working Capital Changes	-80M	45M	131M	-124M	68M	-220M	-524M	-904M	-638M	-226M
Capital Expenditures+	-2.35B	-1.06B	-5.72B	-5.56B	-11.37B	-4.61B	-2.07B	-2.77B	-12.99B	-4.97B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-2.35B	-1.06B	-5.72B	-5.56B	-11.37B	-4.61B	-1.17B	-3.37B	-12.99B	-6.9B
Acquisitions	-707M	-1.05B	-4.84B	-4.6B	-10.4B	-3.03B	773M	-870M	-10.14B	-2.8B
Purchase of Investments	-1.72B	-191M	-469M	-255M	-176M	-1.17B	-1.32B	-659M	-524M	-677M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	10M	7M	47M	23M	38M	46M	85M	41M	-558M	483M
Cash from Financing+	1.76B	899M	3.81B	4.42B	9.54B	2.13B	-995M	56M	9.42B	2.61B
Dividends Paid	-546M	-628M	-794M	-919M	-1.03B	-1.13B	-1.26B	-1.42B	-1.52B	-1.64B
Dividend Payout Ratio %	3.23%	1.7%	6.4%	4.79%	4.87%	3.5%	1.64%	4.16%	4.13%	4.68%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Stock Issued	932M	755M	1.21B	325M	853M	204M	1.07B	13M	0	11M
Share Repurchases	-67M	-6M	0	0	0	0	-12M	-243M	-13M	0
Other Financing	304M	577M	1.8B	716M	5.85B	1.55B	-2.08B	-1.68B	5.58B	-3.91B
Net Change in Cash+	10M	587M	-412M	166M	287M	40M	539M	-127M	578M	214M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K
Cash at Beginning	189M	199M	786M	374M	540M	827M	867M	1.41B	1.28B	1.86B
Cash at End	199M	786M	374M	540M	827M	867M	1.41B	1.28B	1.86B	2.07B
Free Cash Flow+	-1.71B	-305M	-4.24B	-4.2B	-9.23B	-2.08B	705M	356M	-8.91B	-322M
FCF Growth %	-3.39%	0.82%	-12.9%	0.01%	-1.2%	0.77%	1.34%	-0.5%	-26.03%	0.96%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.5%	4.39%	1.07%	1.36%	1.15%	1.48%	3.19%	1.31%	1.23%	1.1%
EBITDA Margin	49.76%	41.89%	35.22%	47.74%	44.31%	44.33%	42.65%	39.11%	37.85%	40.89%
Net Debt / EBITDA	7.62x	8.60x	7.89x	6.60x	7.60x	6.72x	6.48x	5.79x	7.06x	6.32x
Interest Coverage	1.49x	1.12x	1.34x	2.56x	1.89x	-	2.33x	2.18x	1.62x	1.63x
CapEx / Revenue	126.47%	50.02%	161.84%	119.6%	172.38%	51.87%	17.92%	19.23%	72.44%	23.65%
Dividend Payout Ratio	323.08%	170.19%	640.32%	478.65%	486.73%	350%	164.1%	415.84%	413.08%	468.38%
Debt / Equity	1.01x	0.86x	0.75x	1.03x	1.03x	1.25x	1.25x	1.32x	1.46x	1.89x
EPS Growth	53.33%	63.04%	-103.56%	1560.67%	-88.03%	392.51%	404.35%	-87.93%	57.14%	-45.45%

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	183M	293M	921M	2.28B	2.64B	2.84B	4.17B	5.1B
UNITED STATES Growth	-	60.11%	214.33%	147.45%	16.02%	7.41%	47.01%	22.11%
CANADA	193M	379M	976M	1.46B	2.42B	4.44B	4.61B	4.76B
CANADA Growth	-	96.37%	157.52%	49.69%	65.85%	83.16%	3.90%	3.30%
INDIA	57M	60M	399M	740M	1.72B	1.88B	1.95B	2.52B
INDIA Growth	-	5.26%	565.00%	85.46%	132.03%	9.38%	3.57%	29.46%
BRAZIL	938M	1.11B	1.14B	981M	1.16B	1.54B	1.52B	1.42B
BRAZIL Growth	-	18.55%	2.70%	-14.10%	18.65%	32.13%	-1.04%	-6.96%
COLOMBIA	161M	693M	1.05B	799M	862M	900M	996M	1.15B
COLOMBIA Growth	-	330.43%	52.09%	-24.19%	7.88%	4.41%	10.67%	15.76%
FRANCE	-	-	-	-	-	-	442M	749M
FRANCE Growth	-	-	-	-	-	-	-	69.46%
AUSTRALIA	1.09B	1.1B	1.03B	916M	617M	666M	678M	543M
AUSTRALIA Growth	-	1.01%	-6.61%	-11.15%	-32.64%	7.94%	1.80%	-19.91%
GERMANY	-	-	-	-	-	-	-	312M
GERMANY Growth	-	-	-	-	-	-	-	-
SPAIN	-	-	-	-	-	-	318M	-
SPAIN Growth	-	-	-	-	-	-	-	-
PERU	103M	92M	107M	81M	96M	111M	144M	-
PERU Growth	-	-10.68%	16.30%	-24.30%	18.52%	15.63%	29.73%	-
NEW ZEALAND	89M	-	-	-	-	112M	128M	-
NEW ZEALAND Growth	-	-	-	-	-	-	14.29%	-
CHILE	153M	168M	163M	117M	138M	-	-	-
CHILE Growth	-	9.80%	-2.98%	-28.22%	17.95%	-	-	-

Frequently Asked Questions

Valuation & Price

Brookfield Infrastructure Partners L.P. (BIP) has a price-to-earnings (P/E) ratio of 290.3x. This suggests investors expect higher future growth.

Growth & Financials

Brookfield Infrastructure Partners L.P. (BIP) reported $22.24B in revenue for fiscal year 2024. This represents a 1259% increase from $1.64B in 2011.

Brookfield Infrastructure Partners L.P. (BIP) grew revenue by 17.3% over the past year. This is strong growth.

Yes, Brookfield Infrastructure Partners L.P. (BIP) is profitable, generating $806.0M in net income for fiscal year 2024 (1.7% net margin).

Dividend & Returns

Yes, Brookfield Infrastructure Partners L.P. (BIP) pays a dividend with a yield of 10.23%. This makes it attractive for income-focused investors.

Brookfield Infrastructure Partners L.P. (BIP) has a return on equity (ROE) of 1.1%. This is below average, suggesting room for improvement.

Brookfield Infrastructure Partners L.P. (BIP) had negative free cash flow of $3.78B in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

Brookfield Infrastructure Partners L.P. (BIP) has a dividend payout ratio of 468%. The high payout ratio may limit dividend growth.

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