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Brookfield Infrast Partners Lp (BIP) Financials

BIP
FY2025 annual
Revenue $23.1B +9.8% YoY
Net Income $2.5B +50.4% YoY
Free Cash Flow -$53.0M +83.5% YoY
Operating Cash Flow $6.0B +28.3% YoY
Market Cap $16.9B as of Sep 10, 2026
Price / Sales 0.7x on $23.1B revenue, FY2025
Price / Earnings 6.7x on $2.5B net income, FY2025
Price / Book 0.5x on $35.5B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Mar 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BIP SEC filings page.

Brookfield Infrast Partners Lp (BIP) reported $23.1B in revenue for fiscal year 2025, up 9.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BIP FY2025

Asset-heavy expansion is Brookfield Infrastructure’s dominant mechanic, with rising operating cash absorbed by heavier reinvestment and liabilities.

Operating cash flow more than doubled from FY2021 to FY2025, yet free-cash-flow margin moved from 6.1% to -0.2%, showing that capital intensity—not weak cash collection—is consuming the expansion. The business is scaling by adding assets and funding reinvestment, rather than converting a larger share of sales into free cash.

In FY2025, operating cash flow reached $6.0B against net income of $2.5B, so reported earnings converted into cash. Capital expenditures of $6.0B then nearly consumed that inflow, leaving free cash flow at -$53M.

The asset base produces a modest return relative to its scale: FY2025 net margin was 11.0% while return on assets was only 2.0%, pointing to infrastructure-heavy economics. A current ratio of 0.8 alongside total liabilities at 2.6x equity shows substantial balance-sheet obligations and limited current-asset coverage of near-term liabilities.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 52 / 100
Financial Health Score 52/100
Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Brookfield Infrast Partners Lp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

Not available for Brookfield Infrast Partners Lp, and counted as zero in the overall score.

Growth
92

Brookfield Infrast Partners Lp's revenue grew 9.8% year-over-year to $23.1B, a solid pace of expansion. This earns a growth score of 92/100.

Leverage
91

Brookfield Infrast Partners Lp carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
50

Brookfield Infrast Partners Lp's current ratio of 0.78 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
76

While Brookfield Infrast Partners Lp generated $6.0B in operating cash flow, capex of $6.0B consumed most of it, leaving -$53.0M in free cash flow. This results in a low score of 76/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Not available for Brookfield Infrast Partners Lp, and counted as zero in the overall score.

Piotroski F-Score Partial
5/7

Brookfield Infrast Partners Lp passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.36x

For every $1 of reported earnings, Brookfield Infrast Partners Lp generates $2.36 in operating cash flow ($6.0B OCF vs $2.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt
$3.2B
YoY+54.6%
QoQ+36.7%

Brookfield Infrast Partners Lp held $3.2B in cash against $4.0B in long-term debt as of Q4 2025.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

BIP Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BIP quarterly income statement
MetricQ4'2520-FQ2'2510-QQ4'2420-FQ2'2410-QQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
RevenueN/A$5.4B+5.7%N/A$5.1B+20.7%N/A$4.3B+15.6%N/A$3.7B+38.2%
Interest ExpenseN/A$909.0M+10.0%N/A$826.0M+45.7%N/A$567.0M+20.9%N/A$469.0M+29.6%
Net IncomeN/A$252.0M+37.0%N/A$184.0M-76.2%N/A$773.0M+81.9%N/A$425.0M-67.5%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

BIP Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BIP quarterly balance sheet
MetricQ4'2520-FQ2'2510-QQ4'2420-FQ2'2410-QQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
Total Assets$128.2B+22.5%$108.7B+7.7%$104.6B+3.8%$100.9B+23.5%$100.8B+38.1%$81.7B+10.5%$73.0B-1.3%$73.9B+22.6%
Current Assets$12.0B+24.7%$12.2B+63.2%$9.6B+20.4%$7.5B+18.4%$8.0B+19.3%$6.3B+8.2%$6.7B+36.6%$5.8B-0.9%
Cash & Equivalents$3.2B+54.6%$2.3B+76.6%$2.1B+11.5%$1.3B-3.9%$1.9B+45.2%$1.4B+6.1%$1.3B-9.0%$1.3B+2.0%
Inventory$583.0M+28.4%$470.0M-1.5%$454.0M-11.3%$477.0M+0.4%$512.0M-3.6%$475.0M+3.7%$531.0M+32.8%$458.0M+60.7%
Accounts Receivable$5.3B+19.8%$4.9B+10.0%$4.5B-4.7%$4.5B+28.4%$4.7B+77.9%$3.5B+50.1%$2.6B+19.2%$2.3B+13.5%
Goodwill$19.2B+36.2%$14.5B+3.1%$14.1B-2.7%$14.1B+13.8%$14.5B+64.8%$12.4B+38.4%$8.8B-2.1%$9.0B+31.4%
Total Liabilities$92.6B+23.9%$79.0B+11.7%$74.7B+11.9%$70.8B+33.4%$66.8B+40.8%$53.0B+10.8%$47.4B-0.3%$47.9B+23.3%
Current Liabilities$15.3B+40.0%$13.8B+49.5%$10.9B-6.9%$9.2B-5.3%$11.7B+39.7%$9.7B+9.3%$8.4B-3.3%$8.9B+26.8%
Non-Current Liabilities$77.3B+21.2%$65.3B+6.0%$63.8B+15.9%$61.6B+42.1%$55.1B+41.0%$43.3B+11.2%$39.0B+0.3%$39.0B+22.5%
Long-Term Debt$4.0B-11.9%$4.5B+13.0%$4.5B+41.0%$3.9B+29.0%$3.2B+5.3%$3.1B-5.8%$3.0B-11.3%$3.2B-1.5%
Total Equity$35.5B+19.1%$29.6B-1.5%$29.9B-12.2%$30.1B+5.2%$34.0B+33.1%$28.6B+9.9%$25.6B-3.2%$26.0B+21.4%
Retained Earnings-$6.1B-7.4%-$6.3B-24.1%-$5.7B-28.4%-$5.1B-35.2%-$4.4B-29.1%-$3.7B-30.8%-$3.4B-35.8%-$2.9B-12.3%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

BIP Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BIP quarterly cash flow statement
MetricQ4'2520-FQ2'2510-QQ4'2420-FQ2'2410-QQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
Operating Cash FlowN/A$1.2B+12.5%N/A$1.1B+9.0%N/A$970.0M+32.2%N/A$734.0M+30.1%
Depreciation & AmortizationN/A$941.0M+6.7%N/A$882.0M+39.6%N/A$632.0M+14.5%N/A$552.0M+12.2%
Capital ExpendituresN/A$1.0B+2.9%N/A$991.0M+73.3%N/A$572.0M-22.2%N/A$735.0M+77.5%
Free Cash FlowN/A$169.0M+156.1%N/A$66.0M-83.4%N/A$398.0M+39900.0%N/A-$1.0M-100.7%
Investing Cash FlowN/A-$460.0M+61.2%N/A-$1.2B-256.2%N/A$760.0M+230.1%N/A-$584.0M-128.9%
Financing Cash FlowN/A$105.0M+238.2%N/A-$76.0M+96.0%N/A-$1.9B-177.5%N/A-$690.0M+72.1%

Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.

BIP Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BIP quarterly financial ratios
MetricQ4'2520-FQ2'2510-QQ4'2420-FQ2'2410-QQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
Net MarginN/A4.6%+1.1ppN/A3.6%-14.6ppN/A18.2%+6.6ppN/A11.6%-37.5pp
Return on EquityN/A0.9%+0.2ppN/A0.6%-2.1ppN/A2.7%+1.1ppN/A1.6%-4.5pp
Return on AssetsN/A0.2%+0.1ppN/A0.2%-0.8ppN/A0.9%+0.4ppN/A0.6%-1.6pp
Current Ratio0.78-0.1x0.88+0.1x0.88+0.2x0.81+0.2x0.68-0.1x0.650.0x0.80+0.2x0.65-0.2x
Debt-to-Equity0.110.0x0.150.0x0.15+0.1x0.130.0x0.090.0x0.110.0x0.120.0x0.120.0x
Asset TurnoverN/A0.050.0xN/A0.050.0xN/A0.050.0xN/A0.050.0x
FCF MarginN/A3.1%+1.8ppN/A1.3%-8.1ppN/A9.3%+9.4ppN/A0.0%-5.7pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin.

Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Brookfield Infrast Partners Lp BIP FY2025 $23.1B $2.5B 11.0% $16.9B 52/100
Sempra Energy SRE FY2025 $13.7B $1.8B 13.4% $55.9B 32/100
Aes Corp AES FY2025 $12.2B $910.0M 7.4% $10.6B 14/100
Algonquin Power AQN FY2025 $2.4B $180.8M 7.4% $4.4B 37/100
Allete Inc ALE FY2024 $1.5B $179.3M 11.7% $3.9B 51/100

Frequently Asked Questions

What is Brookfield Infrast Partners Lp's annual revenue?

Brookfield Infrast Partners Lp (BIP) reported $23.1B in total revenue for fiscal year 2025. This represents a 9.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Brookfield Infrast Partners Lp's revenue growing?

Brookfield Infrast Partners Lp (BIP) revenue grew by 9.8% year-over-year, from $21.0B to $23.1B in fiscal year 2025.

Is Brookfield Infrast Partners Lp profitable?

Yes, Brookfield Infrast Partners Lp (BIP) reported a net income of $2.5B in fiscal year 2025, with a net profit margin of 11.0%.

As of fiscal year 2025, Brookfield Infrast Partners Lp (BIP) had $3.2B in cash and equivalents against $4.0B in long-term debt.

Brookfield Infrast Partners Lp (BIP) had a net profit margin of 11.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Brookfield Infrast Partners Lp (BIP) has a return on equity of 7.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Brookfield Infrast Partners Lp (BIP) recorded an outflow of $53.0M in free cash flow during fiscal year 2025. This represents a 83.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Brookfield Infrast Partners Lp (BIP) generated $6.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Brookfield Infrast Partners Lp (BIP) had $128.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Brookfield Infrast Partners Lp (BIP) invested $6.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Brookfield Infrast Partners Lp (BIP) had a current ratio of 0.78 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Brookfield Infrast Partners Lp (BIP) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Brookfield Infrast Partners Lp (BIP) had a return on assets of 2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Brookfield Infrast Partners Lp (BIP) trades at 6.7x earnings, its market capitalization divided by net income of $2.5B net income, FY2025. The market capitalization is $16.9B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Brookfield Infrast Partners Lp (BIP) trades at 0.7x sales, its market capitalization divided by revenue of $23.1B revenue, FY2025. The market capitalization is $16.9B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Brookfield Infrast Partners Lp (BIP) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Brookfield Infrast Partners Lp (BIP) has an earnings quality ratio of 2.36x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Brookfield Infrast Partners Lp (BIP) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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