Brookfield Infrastructure Financials

BIPC

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Brookfield Infrastructure (BIPC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

Financial Health Signals

Financial Profile 30/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Brookfield Infrastructure's revenue grew a modest 0.1% year-over-year to $3.7B. This slow but positive growth earns a score of 33/100.

Leverage

Brookfield Infrastructure has elevated debt relative to equity (D/E of 10.98), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Brookfield Infrastructure's current ratio of 0.38 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 2/100, which could limit financial flexibility.

Cash Flow

While Brookfield Infrastructure generated $1.6B in operating cash flow, capex of $1.6B consumed most of it, leaving $2.0M in free cash flow. This results in a low score of 25/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Brookfield Infrastructure earns a strong 34.9% return on equity (ROE), meaning it generates $35 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 89/100. This is up from 3.2% the prior year.

Piotroski F-Score Neutral

4/9

Brookfield Infrastructure passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.30x

For every $1 of reported earnings, Brookfield Infrastructure generates $2.30 in operating cash flow ($1.6B OCF vs $700.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.7B

YoY+0.1%

5Y CAGR+20.7%

Brookfield Infrastructure generated $3.7B in revenue in fiscal year 2025. This represents an increase of 0.1% from the prior year.

EBITDA

N/A

Net Income

$700.0M

YoY+872.2%

Brookfield Infrastructure reported $700.0M in net income in fiscal year 2025. This represents an increase of 872.2% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$2.0M

YoY-99.4%

Brookfield Infrastructure generated $2.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 99.4% from the prior year.

Cash & Debt

$431.0M

YoY-36.1%

5Y CAGR+17.6%

Brookfield Infrastructure held $431.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

19.1%

YoY+17.1pp

5Y CAGR+35.3pp

Brookfield Infrastructure's net profit margin was 19.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 17.1 percentage points from the prior year.

Return on Equity

34.9%

YoY+31.7pp

Brookfield Infrastructure's ROE was 34.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 31.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$1.6B

YoY+14.5%

Brookfield Infrastructure invested $1.6B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 14.5% from the prior year.

BIPC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.7B+0.1%	$3.7B+46.5%	$2.5B+32.7%	$1.9B+14.8%	$1.6B+14.9%	$1.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$385.0M+5.5%	$365.0M-0.8%	$368.0M+40.5%	$262.0M-35.3%	$405.0M+50.6%	$269.0M
Net Income	$700.0M+872.2%	$72.0M-88.1%	$606.0M-62.6%	$1.6B+5896.3%	$27.0M+111.6%	-$232.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$866.0M	N/A	$908.0M	N/A	$538.0M	N/A	$479.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	-$309.0M	N/A	$643.0M	N/A	-$154.0M	N/A	$842.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BIPC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$24.0B+1.9%	$23.6B-1.3%	$23.9B+134.9%	$10.2B+0.9%	$10.1B+7.9%	$9.3B
Current Assets	$2.9B-38.2%	$4.8B+69.9%	$2.8B+78.9%	$1.6B-22.0%	$2.0B+243.0%	$586.0M
Cash & Equivalents	$431.0M-36.1%	$674.0M+25.0%	$539.0M+21.1%	$445.0M-5.1%	$469.0M+144.3%	$192.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$928.0M+18.1%	$786.0M-16.3%	$939.0M+88.2%	$499.0M+11.4%	$448.0M+13.7%	$394.0M
Goodwill	$1.7B+4.4%	$1.6B-6.8%	$1.7B+233.2%	$518.0M+5.9%	$489.0M-7.4%	$528.0M
Total Liabilities	$22.0B+3.1%	$21.4B+7.7%	$19.8B+88.3%	$10.5B-8.4%	$11.5B+16.1%	$9.9B
Current Liabilities	$7.7B+0.3%	$7.6B+20.3%	$6.4B+37.3%	$4.6B-25.2%	$6.2B+124.5%	$2.8B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.0B-9.8%	$2.2B-45.4%	$4.1B+1226.9%	-$361.0M+74.6%	-$1.4B-149.0%	-$572.0M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$24.0B+0.5%	$23.9B+1.4%	$23.6B-0.3%	$23.7B-1.1%	$23.9B+117.9%	$11.0B+7.8%	$10.2B+1.4%	$10.0B
Current Assets	$2.9B-18.6%	$3.6B-24.0%	$4.8B+55.4%	$3.1B+9.3%	$2.8B+62.1%	$1.7B+10.4%	$1.6B-2.7%	$1.6B
Cash & Equivalents	$431.0M-64.6%	$1.2B+80.6%	$674.0M+44.6%	$466.0M-13.5%	$539.0M+51.4%	$356.0M-20.0%	$445.0M-13.1%	$512.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$928.0M+6.1%	$875.0M+11.3%	$786.0M-9.9%	$872.0M-7.1%	$939.0M+69.5%	$554.0M+11.0%	$499.0M+2.9%	$485.0M
Goodwill	$1.7B+0.6%	$1.7B+3.8%	$1.6B-3.0%	$1.7B-3.9%	$1.7B+204.9%	$566.0M+9.3%	$518.0M+0.4%	$516.0M
Total Liabilities	$22.0B+1.5%	$21.7B+1.6%	$21.4B+6.2%	$20.1B+1.4%	$19.8B+69.0%	$11.7B+11.4%	$10.5B-5.2%	$11.1B
Current Liabilities	$7.7B+4.9%	$7.3B-4.4%	$7.6B+47.1%	$5.2B-18.2%	$6.4B+23.7%	$5.1B+10.9%	$4.6B-26.6%	$6.3B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.0B-9.3%	$2.2B-0.5%	$2.2B-37.1%	$3.5B-13.2%	$4.1B+632.5%	-$764.0M-111.6%	-$361.0M+66.5%	-$1.1B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BIPC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.6B-7.7%	$1.7B+64.6%	$1.1B+18.6%	$893.0M+6.4%	$839.0M+14.9%	$730.0M
Capital Expenditures	$1.6B+14.5%	$1.4B+136.2%	$594.0M	N/A	N/A	N/A
Free Cash Flow	$2.0M-99.4%	$340.0M-26.9%	$465.0M	N/A	N/A	N/A
Investing Cash Flow	-$612.0M+44.9%	-$1.1B+65.0%	-$3.2B-203.2%	-$1.0B-421.2%	$326.0M+181.7%	-$399.0M
Financing Cash Flow	-$1.3B-201.6%	-$428.0M-119.6%	$2.2B+54675.0%	-$4.0M+99.5%	-$868.0M-173.8%	-$317.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	$478.0M	N/A	$511.0M	N/A	$265.0M	N/A	$232.0M
Capital Expenditures	N/A	$209.0M	N/A	$403.0M	N/A	$135.0M	N/A	N/A
Free Cash Flow	N/A	$269.0M	N/A	$108.0M	N/A	$130.0M	N/A	N/A
Investing Cash Flow	N/A	$195.0M	N/A	-$248.0M	N/A	-$134.0M	N/A	-$140.0M
Financing Cash Flow	N/A	$257.0M	N/A	-$118.0M	N/A	-$101.0M	N/A	-$728.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BIPC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	19.1%+17.1pp	2.0%-22.3pp	24.2%-61.6pp	85.8%+84.2pp	1.6%+17.9pp	-16.2%
Return on Equity	34.9%+31.7pp	3.2%-11.7pp	14.9%	N/A	N/A	N/A
Return on Assets	2.9%+2.6pp	0.3%-2.2pp	2.5%-13.4pp	15.9%+15.6pp	0.3%+2.8pp	-2.5%
Current Ratio	0.38-0.2	0.62+0.2	0.44+0.1	0.34+0.0	0.32+0.1	0.21
Debt-to-Equity	10.98+1.4	9.62+4.7	4.88+34.1	-29.19-21.1	-8.08+9.3	-17.34
FCF Margin	0.1%-9.2pp	9.3%-9.3pp	18.6%	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	-35.7%	N/A	70.8%	N/A	-28.6%	N/A	175.8%
Return on Equity	N/A	-14.0%	N/A	18.2%	N/A	N/A	N/A	N/A
Return on Assets	N/A	-1.3%	N/A	2.7%	N/A	-1.4%	N/A	8.4%
Current Ratio	0.38-0.1	0.49-0.1	0.62+0.0	0.59+0.1	0.44+0.1	0.340.0	0.34+0.1	0.26
Debt-to-Equity	10.98+1.2	9.81+0.2	9.62+3.9	5.70+0.8	4.88+20.2	-15.36+13.8	-29.19-18.9	-10.31
FCF Margin	N/A	31.1%	N/A	11.9%	N/A	24.2%	N/A	N/A

Note: The current ratio is below 1.0 (0.38), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Brookfield Infrastructure's annual revenue?

Brookfield Infrastructure (BIPC) reported $3.7B in total revenue for fiscal year 2025. This represents a 0.1% 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 Infrastructure's revenue growing?

Brookfield Infrastructure (BIPC) revenue grew by 0.1% year-over-year, from $3.7B to $3.7B in fiscal year 2025.

Is Brookfield Infrastructure profitable?

Yes, Brookfield Infrastructure (BIPC) reported a net income of $700.0M in fiscal year 2025, with a net profit margin of 19.1%.

What is Brookfield Infrastructure's net profit margin?

Brookfield Infrastructure (BIPC) had a net profit margin of 19.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Brookfield Infrastructure's return on equity (ROE)?

Brookfield Infrastructure (BIPC) has a return on equity of 34.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brookfield Infrastructure's free cash flow?

Brookfield Infrastructure (BIPC) generated $2.0M in free cash flow during fiscal year 2025. This represents a -99.4% 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.

What is Brookfield Infrastructure's operating cash flow?

Brookfield Infrastructure (BIPC) generated $1.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brookfield Infrastructure's total assets?

Brookfield Infrastructure (BIPC) had $24.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brookfield Infrastructure's capital expenditures?

Brookfield Infrastructure (BIPC) invested $1.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Brookfield Infrastructure's current ratio?

Brookfield Infrastructure (BIPC) had a current ratio of 0.38 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Brookfield Infrastructure's debt-to-equity ratio?

Brookfield Infrastructure (BIPC) had a debt-to-equity ratio of 10.98 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Brookfield Infrastructure's return on assets (ROA)?

Brookfield Infrastructure (BIPC) had a return on assets of 2.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brookfield Infrastructure's Piotroski F-Score?

Brookfield Infrastructure (BIPC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Brookfield Infrastructure's earnings high quality?

Brookfield Infrastructure (BIPC) has an earnings quality ratio of 2.30x, 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.

How financially healthy is Brookfield Infrastructure?

Brookfield Infrastructure (BIPC) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.