Upside case
Bull case
$143+284.8%
BIP would need investors to value it at roughly 120x earnings — about 88x more generous than today's 31x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Brookfield Infrastructure Partners L.P. (BIP) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
16
analysts
13 bullish · 0 bearish · 16 covering BIP
Strong Buy
1
Buy
12
Hold
3
Sell
0
Strong Sell
0
Consensus Target
$46
+24.4% vs today
Scenario Range
$54 – $143
Model bear to bull value window
Coverage
16
Published analyst ratings
Valuation Context
31.1x
Forward P/E · Market cap $17.2B
BIP price targets
Three scenarios for where BIP stock could go
Current
~$37
Confidence
57 / 100
Updated
May 1, 2026
Where we are now
Current · $37
Bear
$54
Base
$44
Bull
$143
Market caseClosest to today
Base case
$44+19.5%
At 37x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$54+44.7%
The bear case assumes sentiment or fundamentals disappoint enough to push BIP down roughly 45% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Brookfield Infrastructure Partners L.P.
BIP · NYSEUtilitiesDiversified UtilitiesDecember year-end
Brookfield Infrastructure Partners is a global owner and operator of essential infrastructure assets across utilities, transport, midstream energy, and data infrastructure. It generates stable, contracted cash flows primarily through long-term regulated or contracted revenue models — with utilities (~40% of funds from operations), transport (~25%), midstream (~20%), and data (~15%) as its core segments. Its competitive moat stems from owning hard-to-replicate, capital-intensive assets with high barriers to entry and inflation-linked revenue structures that provide durable cash flow visibility.
Market Cap
$17.2B
Revenue TTM
$24.0B
Net Income TTM
$417M
Net Margin
1.7%
BIP Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
11%Exceptional
12 quarters tracked
Revenue Beat Rate
100%Exceptional
vs consensus estimates
Avg EPS Surprise
-83.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q4 2025
Q1 2026
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 1 of 4Q4 2025
EPS
$0.44/$0.26
Revenue
$6.0B/$2.0B
Q1 2026
EPS
$0.45/$0.87
Revenue
$6.3B/$2.1B
Q1 2026
EPS
$0.48/—
Revenue
$6.3B/—
Q2 2026
EPS
$-0.20/$0.28
Revenue
$6.3B/$2.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q4 2025 | $0.44/$0.26 | +66.9% | $6.0B/$2.0B | +201.9% |
| Q1 2026 | $0.45/$0.87 | -48.3% | $6.3B/$2.1B | +199.3% |
| Q1 2026 | $0.48/— | — | $6.3B/— | — |
| Q2 2026 | $-0.20/$0.28 | -171.8% | $6.3B/$2.1B | +195.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$23.4B
-2.6% YoY
FY2
$25.3B
+8.0% YoY
EPS Outlook
FY1
$1.03
+13.3% YoY
FY2
$1.17
+14.0% YoY
Trailing FCF (TTM)-$13.7B
FCF Margin: -57.2%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
BIP beat EPS estimates in 1 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
BIP Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $18.6B
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
34.3%
+25.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
UNITED STATES is the largest reported region at 34.3%, up 25.4% YoY.
BIP Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $101 — implies +178.4% from today's price.
Upside to Fair Value
178.4%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
BIP
37.9x
vs
S&P 500
25.2x
+50% premium
vs Utilities Trailing P/E
BIP
37.9x
vs
Utilities
19.7x
+92% premium
vs BIP 5Y Avg P/E
Today
37.9x
vs
5Y Average
71.8x
47% discount
Forward PE
31.1x
S&P 500
19.1x
+63%
Utilities
17.2x
+81%
5Y Avg
—
—
Trailing PE
37.9x
S&P 500
25.2x
+50%
Utilities
19.7x
+92%
5Y Avg
71.8x
-47%
PEG Ratio
1.13x
S&P 500
1.75x
-35%
Utilities
1.73x
-35%
5Y Avg
—
—
EV/EBITDA
8.0x
S&P 500
15.3x
-48%
Utilities
11.5x
-31%
5Y Avg
8.7x
-8%
Price/FCF
—
S&P 500
21.3x
—
Utilities
15.4x
—
5Y Avg
32.7x
—
Price/Sales
0.7x
S&P 500
3.1x
-76%
Utilities
2.2x
-66%
5Y Avg
0.9x
-22%
Dividend Yield
10.20%
S&P 500
1.88%
+443%
Utilities
3.07%
+232%
5Y Avg
9.91%
+3%
| Metric | BIP | S&P 500 | Utilities | 5Y Avg BIP |
|---|---|---|---|---|
| Forward PE | 31.1x | 19.1x+63% | 17.2x+81% | — |
| Trailing PE | 37.9x | 25.2x+50% | 19.7x+92% | 71.8x-47% |
| PEG Ratio | 1.13x | 1.75x-35% | 1.73x-35% | — |
| EV/EBITDA | 8.0x | 15.3x-48% | 11.5x-31% | 8.7x |
| Price/FCF | — | 21.3x | 15.4x | 32.7x |
| Price/Sales | 0.7x | 3.1x-76% | 2.2x-66% | 0.9x-22% |
| Dividend Yield | 10.20% | 1.88% | 3.07% | 9.91% |
BIP trades above S&P 500 benchmarks on 2 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolBIP Financial Health
Verdict
Exceptional
BIP earns 25.2% operating margin on regulated earnings, 10.2% dividend yield. Utilities carry higher leverage than industrials as a structural feature of the business model.
Regulated Operations
Revenue, regulated margins, and earnings
Revenue (TTM)
Trailing-twelve-month sales base
$24.0B
Revenue Growth
TTM vs prior year
+13.0%
Operating Margin
Operating income divided by revenue
25.2%
Net Margin
Net income divided by revenue
1.7%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.91
Operating Margin
Operating income over revenue — primary regulated earnings signal
25.2%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
4.8%
ROA
Return on assets, trailing twelve months
0.3%
Cash & Equivalents
Liquid assets on the balance sheet
$3.2B
Net Debt
Total debt minus cash
$61.3B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
Regulated utilities typically operate at 3–5× net debt/FCF — this is structural, not a risk flag.
ROE
Return on equity, trailing twelve months
1.2%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
11.3%
Dividend
10.2%
Buyback
1.1%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$190M
Dividend / Share
Annualized trailing dividend per share
$3.79
Payout Ratio
Share of earnings distributed as dividends
388.2%
Shares Outstanding
Declining as buybacks retire shares
462M
All figures from the trailing twelve months. Utilities operate with structural leverage (3–5× net debt/FCF) due to regulated, predictable cash flows.
Open full ratios pageBIP Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Interest Rate Sensitivity
BIP's significant debt load makes it vulnerable to rising interest rates, which can increase financing costs and affect profitability. With current high interest rates, the financial burden could become problematic for the company.
High Risk
High Leverage and Financial Strength
Despite strong profitability and growth metrics, BIP's financial strength is concerning due to high debt levels and low liquidity ratios. The substantial debt taken on to finance new projects poses a risk, especially in a high interest rate environment.
High Risk
Economic and Political Environment
Changes in global economic conditions and political instability can negatively impact BIP's operations and investments. Such external factors can lead to significant financial repercussions for the company.
Medium
Valuation Concerns
BIP's Price-to-Earnings (P/E) ratio is considered expensive compared to its peers and the industry average. This raises questions about the sustainability of its valuation, as it suggests that investors may be pricing in strong future growth.
Medium
Operational Risks
BIP faces risks related to natural disasters, human disruptions (such as pandemics), and the international nature of its operations. These operational risks can significantly affect the company's performance.
Medium
Cybersecurity and Technology Reliance
As a company with significant digital assets, BIP is exposed to cybersecurity threats and its reliance on technology. Any breach or technological failure could have serious implications for its operations.
Lower
Currency Fluctuations
BIP's vast geographic footprint can lead to currency impacts, such as the weakening Brazilian Real affecting results. These fluctuations can introduce additional volatility to the company's financial performance.
Lower
Tax Implications
The potential for income to be characterized as Unrelated Business Taxable Income (UBTI) could make BIP units unsuitable for tax-exempt organizations. This may limit the investor base and affect demand for the stock.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why BIP Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Stable and Growing Cash Flows
BIP's business model is designed to generate consistent Funds From Operations (FFO). In Q1 2026, FFO per unit increased by 10% year-over-year, reaching $0.90, with total FFO at $709 million. The company has a history of FFO and distribution growth, with a 14% FFO CAGR and 9% distribution CAGR from 2009-2025.
Diversified and Essential Assets
The company's portfolio spans critical infrastructure sectors, including utilities, transport, midstream, and data. The data segment, in particular, has shown significant growth, with FFO up 46% in Q1 2026. Investments in digital infrastructure are seen as a key growth driver, fueled by increasing data consumption and AI.
Capital Recycling and Growth Pipeline
BIP actively recycles mature assets to fund new investments, aiming for attractive internal rates of return (IRRs). The company has a substantial pipeline of acquisition opportunities and is focused on strategic partnerships to drive growth. In Q1 2026, BIP secured approximately $400 million in new investment opportunities.
Financial Strength and Shareholder Returns
BIP maintains a strong balance sheet with significant liquidity and a BBB+ credit rating. The company has a history of increasing its quarterly distributions, with a 6% increase announced for 2026. Management targets FFO per unit growth of 10%+ and annual distribution growth of 5-9%.
Management and Governance
The company's management has a strong track record, and there is alignment between BIP and its sponsor, Brookfield Corporation, in maximizing per-unit value.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
BIP Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$37.13
52W Range Position
70%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$29.63
+25.3% from the low
52-Week High
$40.32
-7.9% from the high
1 Month
+2.51%
3 Month
-2.39%
YTD
+8.3%
1 Year
+19.2%
3Y CAGR
+1.5%
5Y CAGR
+1.0%
10Y CAGR
+7.9%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
BIP vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
31.1x
vs 17.7x median
+75% above peer median
Revenue Growth
-2.6%
vs +6.3% median
-141% below peer median
Net Margin
1.7%
vs 18.1% median
-90% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
BIP BIP Brookfield Infrastructure Partners L.P. | $17.2B | 31.1x | -2.6% | 1.7% | Buy | +24.4% |
BIP BIPC Brookfield Infrastructure Corporation | $4.7B | — | +7.8% | -20.7% | Buy | +44.3% |
AQN AQN Algonquin Power & Utilities Corp. | $4.9B | 17.5x | +1.3% | -1.1% | Hold | +7.3% |
TRP TRP TC Energy Corporation | $68.2B | 17.5x | +8.6% | 23.2% | Hold | -5.3% |
ENB ENB Enbridge Inc. | $118.3B | 18.0x | +5.5% | 18.1% | Buy | -13.6% |
AWK AWK American Water Works Company, Inc. | $24.5B | 20.6x | +6.3% | 21.2% | Hold | +7.2% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
BIP Dividend and Capital Return
BIP returns 11.3% total yield, led by a 10.20% dividend, raised 17 consecutive years. Buybacks add another 1.1%.
Dividend SustainableFCF Unknown
Total Shareholder Yield
11.3%
Dividend + buyback return per year
Buyback Yield
1.1%
Dividend Yield
10.20%
Payout Ratio
3.9%
How BIP Splits Its Return
Div 10.20%
Dividend 10.20%Buybacks 1.1%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$3.79
Growth Streak
Consecutive years of dividend increases
17Y
3Y Div CAGR
6.1%
5Y Div CAGR
5.9%
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
5 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$190M
Estimated Shares Retired
5M
Approx. Share Reduction
1.1%
Shares Outstanding
Current diluted share count from the screening snapshot
462M
At 1.1%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.92 | — | — | — |
| 2025 | $1.72 | +6.2% | 1.2% | 12.1% |
| 2024 | $1.62 | +5.9% | 0.0% | 11.2% |
| 2023 | $1.53 | +6.2% | 0.1% | 10.6% |
| 2022 | $1.44 | +5.9% | 1.7% | 11.7% |
FAQ
7 questionsBIP Investor Questions
Common questions answered from live analyst data and company financials.
01Is Brookfield Infrastructure Partners L.P. (BIP) stock a buy or sell in 2026?
Brookfield Infrastructure Partners L.P. (BIP) is rated Buy by Wall Street analysts as of 2026. Of 16 analysts covering the stock, 13 rate it Buy or Strong Buy, 3 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $46, implying +24.4% from the current price of $37. The bear case scenario is $54 and the bull case is $143.
02What is the BIP stock price target for 2026?
The Wall Street consensus price target for BIP is $46 based on 16 analyst estimates. The high-end target is $57 (+53.5% from today), and the low-end target is $41 (+10.4%). The base case model target is $44.
03Is Brookfield Infrastructure Partners L.P. (BIP) stock overvalued in 2026?
BIP trades at 31.1x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Brookfield Infrastructure Partners L.P. (BIP) stock in 2026?
The primary risks for BIP in 2026 are: (1) Interest Rate Sensitivity — BIP's significant debt load makes it vulnerable to rising interest rates, which can increase financing costs and affect profitability. (2) High Leverage and Financial Strength — Despite strong profitability and growth metrics, BIP's financial strength is concerning due to high debt levels and low liquidity ratios. (3) Economic and Political Environment — Changes in global economic conditions and political instability can negatively impact BIP's operations and investments. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Brookfield Infrastructure Partners L.P.'s revenue and earnings forecast?
Analyst consensus estimates BIP will report consensus revenue of $23.4B (-2.6% year-over-year) and EPS of $1.03 (+13.3% year-over-year) for the upcoming fiscal year. The following year, analysts project $25.3B in revenue.
06When does Brookfield Infrastructure Partners L.P. (BIP) report its next earnings?
A confirmed upcoming earnings date for BIP is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Brookfield Infrastructure Partners L.P. generate?
Brookfield Infrastructure Partners L.P. (BIP) had a free cash outflow of $13.7B in free cash flow over the trailing twelve months — a free cash flow margin of 57.2%. BIP returns capital to shareholders through dividends (10.2% yield) and share repurchases ($190M TTM).