Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) Financials

BIPH

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

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 17, 2026 Currency USD FYE December

Newest figures come from the 10-K 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 BIPH SEC filings page.

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) 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 BIPH FY2025 2026-09-05

Capital intensity is the dominant mechanic: operating cash generation is absorbed by investment, leaving free cash flow near break-even.

Cash conversion is stronger than headline profit: in FY2025, operating cash flow of $6.0B was more than twice net income of $2.5B, yet capital expenditures of $6.0B left free cash flow at -$53M. That gap indicates earnings are becoming cash, but reinvestment is absorbing nearly all of it as the asset base expands.

The reinvestment burden has intensified: capital expenditures rose from $2.5B in FY2023 to $6.0B in FY2025. That investment coincided with free cash flow shifting from $1.6B to -$53M, implying expansion has consumed the cash economics of growth.

Short-term balance-sheet flexibility is limited: the FY2025 current ratio was 0.8x, while total liabilities reached $92.6B. Financing costs also climbed from $2.5B in FY2023 to $3.9B in FY2025, even as reported debt-to-equity remained low at 0.1x.

Financial Health Signals

Financial health score not available

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/7

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 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 Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 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 Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 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.

BIPH 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.

BIPH quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$23.1B+9.8%	$21.0B+17.3%	$17.9B+24.3%	$14.4B+25.0%	$11.5B+29.8%	$8.9B+34.7%	$6.6B+41.8%	$4.7B+31.6%	$3.5B+67.1%	$2.1B+14.0%	$1.9B
Interest Expense	$3.9B+14.2%	$3.4B+35.4%	$2.5B+34.8%	$1.9B+26.4%	$1.5B+24.5%	$1.2B+30.4%	$904.0M+62.9%	$555.0M+29.7%	$428.0M+9.2%	$392.0M+6.8%	$367.0M
Income Tax	$589.0M+118.1%	$270.0M-53.5%	$581.0M+3.8%	$560.0M-8.8%	$614.0M+111.0%	$291.0M+4.7%	$278.0M-23.6%	$364.0M+110.4%	$173.0M+1053.3%	$15.0M+475.0%	-$4.0M
Net Income	$2.5B+50.4%	$1.7B+16.2%	$1.4B+5.3%	$1.4B-49.4%	$2.7B+200.8%	$904.0M+39.1%	$650.0M-19.4%	$806.0M+40.4%	$574.0M+8.7%	$528.0M+35.0%	$391.0M

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Revenue	N/A	$5.4B+5.7%	N/A	$5.1B+20.7%	N/A	$4.3B+15.6%	N/A	$3.7B+38.2%
Interest Expense	N/A	$909.0M+10.0%	N/A	$826.0M+45.7%	N/A	$567.0M+20.9%	N/A	$469.0M+29.6%
Net Income	N/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).

BIPH Balance Sheet

BIPH quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$128.2B+22.5%	$104.6B+3.8%	$100.8B+38.1%	$73.0B-1.3%	$74.0B+20.6%	$61.3B+8.9%	$56.3B+53.9%	$36.6B+24.1%	$29.5B+38.6%	$21.3B+20.0%	$17.7B
Current Assets	$12.0B+24.7%	$9.6B+20.4%	$8.0B+19.3%	$6.7B+36.6%	$4.9B+31.9%	$3.7B-36.5%	$5.8B+156.6%	$2.3B+50.5%	$1.5B-7.4%	$1.6B+5.1%	$1.6B
Cash & Equivalents	$3.2B+54.6%	$2.1B+11.5%	$1.9B+45.2%	$1.3B-9.0%	$1.4B+62.2%	$867.0M+4.8%	$827.0M+53.1%	$540.0M+44.4%	$374.0M-52.4%	$786.0M+295.0%	$199.0M
Inventory	$583.0M+28.4%	$454.0M-11.3%	$512.0M-3.6%	$531.0M+32.8%	$400.0M+81.0%	$221.0M-8.7%	$242.0M+71.6%	$141.0M+30.6%	$108.0M+6.9%	$101.0M	N/A
Accounts Receivable	$5.3B+19.8%	$4.5B-4.7%	$4.7B+77.9%	$2.6B+19.2%	$2.2B+14.5%	$1.9B-1.8%	$2.0B+67.4%	$1.2B+39.7%	$838.0M+66.3%	$504.0M	N/A
Goodwill	$19.2B+36.2%	$14.1B-2.7%	$14.5B+64.8%	$8.8B-2.1%	$9.0B+35.3%	$6.6B+1.2%	$6.6B+69.8%	$3.9B+196.6%	$1.3B+159.2%	$502.0M	N/A
Total Liabilities	$92.6B+23.9%	$74.7B+11.9%	$66.8B+40.8%	$47.4B-0.3%	$47.6B+20.0%	$39.7B+16.2%	$34.1B+55.8%	$21.9B+36.9%	$16.0B+37.6%	$11.6B+10.2%	$10.6B
Current Liabilities	$15.3B+40.0%	$10.9B-6.9%	$11.7B+39.7%	$8.4B-3.3%	$8.7B+56.8%	$5.5B+1.6%	$5.4B+125.0%	$2.4B+54.5%	$1.6B+3.2%	$1.5B+25.2%	$1.2B
Non-Current Liabilities	$77.3B+21.2%	$63.8B+15.9%	$55.1B+41.0%	$39.0B+0.3%	$38.9B+14.0%	$34.1B+19.0%	$28.7B+47.2%	$19.5B+35.0%	$14.4B+42.7%	$10.1B+8.2%	$9.3B
Long-Term Debt	$4.0B-11.9%	$4.5B+41.0%	$3.2B+5.3%	$3.0B-11.3%	$3.4B-4.8%	$3.6B+124.0%	$1.6B	N/A	$10.2B+22.1%	$8.3B	N/A
Total Equity	$35.5B+19.1%	$29.9B-12.2%	$34.0B+33.1%	$25.6B-3.2%	$26.4B+21.8%	$21.7B-2.3%	$22.2B+51.2%	$14.7B+8.9%	$13.5B+39.7%	$9.6B+34.4%	$7.2B
Retained Earnings	-$6.1B-7.4%	-$5.7B-28.4%	-$4.4B-29.1%	-$3.4B-35.8%	-$2.5B+8.4%	-$2.8B-34.4%	-$2.0B-66.8%	-$1.2B+10.1%	-$1.4B-96.0%	-$697.0M	N/A

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-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.

BIPH Cash Flow Statement

BIPH quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$6.0B+28.3%	$4.7B+14.1%	$4.1B+30.2%	$3.1B+13.0%	$2.8B+9.6%	$2.5B+18.1%	$2.1B+57.3%	$1.4B-8.0%	$1.5B+96.7%	$753.0M+19.1%	$632.0M
Depreciation & Amortization	$4.0B+10.4%	$3.6B+33.0%	$2.7B+26.9%	$2.2B+6.0%	$2.0B+19.4%	$1.7B+40.4%	$1.2B+51.6%	$801.0M+19.4%	$671.0M+50.1%	$447.0M+19.2%	$375.0M
Capital Expenditures	$6.0B+21.1%	$5.0B+100.0%	$2.5B-10.4%	$2.8B+34.3%	$2.1B+40.4%	$1.5B+24.5%	$1.2B+40.9%	$839.0M+17.5%	$714.0M+3.5%	$690.0M+32.7%	$520.0M
Free Cash Flow	-$53.0M+83.5%	-$322.0M-120.2%	$1.6B+346.9%	$356.0M-49.5%	$705.0M-33.4%	$1.1B+10.1%	$961.0M+83.7%	$523.0M-31.8%	$767.0M+1117.5%	$63.0M-43.8%	$112.0M
Investing Cash Flow	-$12.7B-83.5%	-$6.9B+46.9%	-$13.0B-286.0%	-$3.4B-186.9%	-$1.2B+74.5%	-$4.6B+59.5%	-$11.4B-104.4%	-$5.6B+2.7%	-$5.7B-440.7%	-$1.1B+54.9%	-$2.3B
Financing Cash Flow	$7.8B+199.3%	$2.6B-72.3%	$9.4B+16719.6%	$56.0M+105.6%	-$995.0M-146.8%	$2.1B-77.7%	$9.5B+116.0%	$4.4B+15.8%	$3.8B+324.2%	$899.0M-49.0%	$1.8B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Operating Cash Flow	N/A	$1.2B+12.5%	N/A	$1.1B+9.0%	N/A	$970.0M+32.2%	N/A	$734.0M+30.1%
Depreciation & Amortization	N/A	$941.0M+6.7%	N/A	$882.0M+39.6%	N/A	$632.0M+14.5%	N/A	$552.0M+12.2%
Capital Expenditures	N/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 Flow	N/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 Flow	N/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 Flow	N/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.

BIPH 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.

BIPH quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	11.0%+3.0pp	8.0%-0.1pp	8.1%-1.4pp	9.5%-14.0pp	23.6%+13.4pp	10.2%+0.3pp	9.8%-7.5pp	17.3%+1.1pp	16.2%-8.7pp	25.0%+3.9pp	21.1%
Return on Equity	7.1%+1.5pp	5.6%+1.4pp	4.3%-1.1pp	5.4%-4.9pp	10.3%+6.1pp	4.2%+1.2pp	2.9%-2.6pp	5.5%+1.2pp	4.3%-1.2pp	5.5%0.0pp	5.5%
Return on Assets	2.0%+0.4pp	1.6%+0.2pp	1.4%-0.4pp	1.9%-1.8pp	3.7%+2.2pp	1.5%+0.3pp	1.1%-1.0pp	2.2%+0.2pp	1.9%-0.5pp	2.5%+0.3pp	2.2%
Current Ratio	0.78-0.1x	0.88+0.2x	0.68-0.1x	0.80+0.2x	0.57-0.1x	0.67-0.4x	1.07+0.1x	0.940.0x	0.97-0.1x	1.08-0.2x	1.28
Debt-to-Equity	0.110.0x	0.15+0.1x	0.090.0x	0.120.0x	0.130.0x	0.17+0.1x	0.07-1.4x	1.49+0.7x	0.75-0.1x	0.86-0.6x	1.47
Asset Turnover	0.180.0x	0.200.0x	0.180.0x	0.200.0x	0.160.0x	0.140.0x	0.120.0x	0.130.0x	0.120.0x	0.100.0x	0.10
FCF Margin	-0.2%+1.3pp	-1.5%-10.4pp	8.9%+6.4pp	2.5%-3.6pp	6.1%-5.8pp	11.9%-2.7pp	14.6%+3.3pp	11.2%-10.5pp	21.7%+18.7pp	3.0%-3.1pp	6.0%

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Net Margin	N/A	4.6%+1.1pp	N/A	3.6%-14.6pp	N/A	18.2%+6.6pp	N/A	11.6%-37.5pp
Return on Equity	N/A	0.9%+0.2pp	N/A	0.6%-2.1pp	N/A	2.7%+1.1pp	N/A	1.6%-4.5pp
Return on Assets	N/A	0.2%+0.1pp	N/A	0.2%-0.8pp	N/A	0.9%+0.4pp	N/A	0.6%-1.6pp
Current Ratio	0.78-0.1x	0.88+0.1x	0.88+0.2x	0.81+0.2x	0.68-0.1x	0.650.0x	0.80+0.2x	0.65-0.2x
Debt-to-Equity	0.110.0x	0.150.0x	0.15+0.1x	0.130.0x	0.090.0x	0.110.0x	0.120.0x	0.120.0x
Asset Turnover	N/A	0.050.0x	N/A	0.050.0x	N/A	0.050.0x	N/A	0.050.0x
FCF Margin	N/A	3.1%+1.8pp	N/A	1.3%-8.1pp	N/A	9.3%+9.4pp	N/A	0.0%-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.

Where Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 Ranks

Frequently Asked Questions

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's annual revenue?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) 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 Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's revenue growing?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) revenue grew by 9.8% year-over-year, from $21.0B to $23.1B in fiscal year 2025.

Is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 profitable?

Yes, Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) reported a net income of $2.5B in fiscal year 2025, with a net profit margin of 11.0%.

How much debt does Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 have?

As of fiscal year 2025, Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) had $3.2B in cash and equivalents against $4.0B in long-term debt.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's net profit margin?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) had a net profit margin of 11.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's return on equity (ROE)?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) has a return on equity of 7.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's free cash flow?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) 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.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's operating cash flow?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) generated $6.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's total assets?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) had $128.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's capital expenditures?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) invested $6.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's current ratio?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) had a current ratio of 0.78 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's debt-to-equity ratio?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) 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.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's return on assets (ROA)?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) had a return on assets of 2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's Piotroski F-Score?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) 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.

Are Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081's earnings high quality?

Brookfield Infrastructure Finance ULC 5.000% Subordinated Notes due 2081 (BIPH) 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.