PEMBINA PIPELINE CORPORATION (PBA) Financials
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 Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Feb 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PBA SEC filings page.
PEMBINA PIPELINE CORPORATION (PBA) reported $5.7B in revenue for fiscal year 2025, up 10.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. 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 PEMBINA PIPELINE CORPORATION'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.
PEMBINA PIPELINE CORPORATION has an operating margin of 36.1%, meaning the company retains $36 of operating profit per $100 of revenue. This strong profitability earns a score of 88/100, reflecting efficient cost management and pricing power. This is up from 30.9% the prior year.
PEMBINA PIPELINE CORPORATION's revenue grew 10.6% year-over-year to $5.7B, a solid pace of expansion. This earns a growth score of 68/100.
PEMBINA PIPELINE CORPORATION has elevated debt relative to equity (D/E of 0.66), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 24/100, reflecting increased financial risk.
PEMBINA PIPELINE CORPORATION's current ratio of 0.61 is below the typical benchmark, resulting in a score of 11/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Not available for PEMBINA PIPELINE CORPORATION, so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
PEMBINA PIPELINE CORPORATION's ROE of 10.1% shows moderate profitability relative to equity, earning a score of 61/100. This is down from 10.7% the prior year.
PEMBINA PIPELINE CORPORATION passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, PEMBINA PIPELINE CORPORATION generates $1.95 in operating cash flow ($2.4B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
PEMBINA PIPELINE CORPORATION earns $5.45 in operating income for every $1 of interest expense ($2.0B vs $375.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
PEMBINA PIPELINE CORPORATION generated $5.7B in revenue in fiscal year 2025. This represents an increase of 10.6% from the prior year.
PEMBINA PIPELINE CORPORATION's EBITDA was $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.8% from the prior year.
PEMBINA PIPELINE CORPORATION reported $1.2B in net income in fiscal year 2025. This represents a decrease of 4.6% from the prior year.
PEMBINA PIPELINE CORPORATION earned $1.94 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 6.9% from the prior year.
Cash & Balance Sheet
PEMBINA PIPELINE CORPORATION held $77.3M in cash against $8.1B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
PEMBINA PIPELINE CORPORATION's gross margin was 41.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.9 percentage points from the prior year.
PEMBINA PIPELINE CORPORATION's operating margin was 36.1% in fiscal year 2025, reflecting core business profitability. This is up 5.2 percentage points from the prior year.
PEMBINA PIPELINE CORPORATION's net profit margin was 21.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.5 percentage points from the prior year.
PEMBINA PIPELINE CORPORATION's ROE was 10.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.5 percentage points from the prior year.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
PBA 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.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.7B+10.6% | $5.1B+6.9% | $4.8B-44.1% | $8.6B+27.1% | $6.8B+44.6% | $4.7B-5.0% | $4.9B-8.8% | $5.4B+24.9% | $4.3B+35.8% | $3.2B |
| Cost of Revenue | $3.5B+14.5% | $3.1B+5.9% | $2.9B-56.0% | $6.6B+36.6% | $4.8B+57.7% | $3.0B-8.7% | $3.3B-16.6% | $4.0B+26.1% | $3.2B+33.4% | $2.4B |
| Gross Profit | $2.3B+1.1% | $2.3B+7.0% | $2.2B-6.8% | $2.3B+11.4% | $2.1B+31.6% | $1.6B-16.4% | $1.9B+10.5% | $1.7B+44.8% | $1.2B+57.8% | $746.3M |
| Operating Income | $2.0B+29.3% | $1.6B-21.2% | $2.0B-26.5% | $2.7B+65.4% | $1.7B+52675.7% | $3.1M-99.8% | $1.4B-4.6% | $1.5B+53.2% | $966.7M+60.6% | $601.8M |
| EBITDA | $2.8B+26.8% | $2.2B-13.2% | $2.5B-22.5% | $3.2B+46.0% | $2.2B+302.4% | $552.0M-69.4% | $1.8B+0.9% | $1.8B+40.5% | $1.3B+55.1% | $820.1M |
| Interest Expense | $375.6M+5.2% | $356.9M+19.3% | $299.2M+5.2% | $284.5M+0.4% | $283.3M-0.2% | $283.9M+26.4% | $224.5M+14.3% | $196.4Mn/m | -$129.4Mn/m | -$67.8M |
| Income Tax | $374.1Mn/m | -$106.9M-134.2% | $312.8M+70.7% | $183.3M-44.6% | $331.1Mn/m | -$78.4M-390.4% | $27.0M-92.1% | $340.1M+199.8% | $113.4M-19.4% | $140.8M |
| Net Income | $1.2B-4.6% | $1.3B-3.8% | $1.3B-38.7% | $2.2B+125.9% | $972.1Mn/m | -$247.8M-186.8% | $285.4M-5.2% | $301.2M+225.0% | $92.7M-73.3% | $347.1M |
| EPS (Basic) | $1.95-6.5% | $2.08-8.3% | $2.27-40.2% | $3.80+142.7% | $1.57 | -$0.67 | $2.08+24.2% | $1.67 | $1.49 | $0.76 |
| EPS (Diluted) | $1.94-6.9% | $2.08-8.0% | $2.26-40.1% | $3.78+142.9% | $1.56 | -$0.67 | $2.07+23.7% | $1.67 | $1.49 | $0.75 |
| Diluted Shares (Avg) | 582M+1.4% | 574M+4.2% | 551M-0.5% | 554M+0.5% | 551M | 550M | 514M+1.0% | 509M | 432M | 389M |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses.
PBA 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.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $25.9B+3.8% | $25.0B+1.1% | $24.7B+6.2% | $23.3B-5.5% | $24.6B-0.1% | $24.6B-2.5% | $25.3B+29.3% | $19.5B-4.3% | $20.4B+82.6% | $11.2B |
| Current Assets | $918.2M-15.9% | $1.1B-45.2% | $2.0B+98.2% | $1.0B+3.3% | $974.4M+25.6% | $775.5M+1.6% | $763.0M+2.8% | $742.5M-9.1% | $816.5M+62.2% | $503.5M |
| Cash & Equivalents | $77.3M-21.1% | $97.9M-14.4% | $114.4M+44.6% | $79.1M+135.0% | $33.7M-47.0% | $63.5M-36.2% | $99.5M-13.5% | $115.1M-55.1% | $256.5M+883.7% | $26.1M |
| Inventory | $207.1M-0.9% | $209.0M-17.1% | $252.2M+26.9% | $198.8M-32.4% | $294.3M+69.8% | $173.3M+78.3% | $97.2M-33.0% | $145.1M+8.1% | $134.2M-0.4% | $134.8M |
| Accounts Receivable | $609.7M-12.6% | $697.9M+8.1% | $645.4M-4.2% | $674.0M+6.0% | $635.5M+22.4% | $519.1M-3.0% | $535.4M+20.9% | $442.7M+4.7% | $422.6M+25.8% | $335.9M |
| Goodwill | $3.6B+4.3% | $3.5B+1.2% | $3.4B+2.4% | $3.4B-8.3% | $3.7B-0.2% | $3.7B+1.5% | $3.6B+27.5% | $2.8B-8.1% | $3.1B+98.0% | $1.6B |
| Total Liabilities | $13.7B+6.9% | $12.8B+0.7% | $12.7B+9.7% | $11.6B-13.3% | $13.4B+4.0% | $12.9B+4.9% | $12.3B+36.4% | $9.0B-4.1% | $9.4B+87.1% | $5.0B |
| Current Liabilities | $1.5B-25.4% | $2.0B-17.2% | $2.4B+60.4% | $1.5B-18.7% | $1.9B+33.9% | $1.4B+24.9% | $1.1B+2.4% | $1.1B+18.9% | $918.8M+58.5% | $579.5M |
| Non-Current Liabilities | $12.2B+12.9% | $10.8B+4.9% | $10.3B+2.1% | $10.1B-12.4% | $11.5B+0.4% | $11.5B+2.9% | $11.1B+41.1% | $7.9B-6.6% | $8.4B+90.9% | $4.4B |
| Long-Term Debt | $8.1B+10.3% | $7.3B+4.4% | $7.0B+0.8% | $7.0B-7.9% | $7.5B-6.3% | $8.1B+3.6% | $7.8B+50.3% | $5.2B-11.3% | $5.8B+95.7% | $3.0B |
| Total Equity | $12.2B+0.6% | $12.2B+1.5% | $12.0B+3.0% | $11.6B+3.8% | $11.2B-4.5% | $11.7B-9.6% | $13.0B+23.3% | $10.5B-4.5% | $11.0B+78.2% | $6.2B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | -$1.4Bn/m | -$1.4Bn/m | -$1.7Bn/m | -$1.5B |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
PBA 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.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.4B+7.9% | $2.2B+11.8% | $2.0B-7.8% | $2.2B+4.4% | $2.1B+17.5% | $1.8B-9.6% | $2.0B+18.1% | $1.7B+36.8% | $1.2B+50.7% | $802.2M |
| Depreciation & Amortization | $719.8M+20.2% | $598.6M+19.2% | $502.2M-0.5% | $504.7M-10.8% | $565.9M+3.1% | $548.9M+40.3% | $391.1M+28.0% | $305.6M+0.1% | $305.2M+39.8% | $218.2M |
| Investing Cash Flow | -$794.9Mn/m | -$2.7Bn/m | -$597.6Mn/m | -$113.8Mn/m | -$813.2Mn/m | -$1.2Bn/m | -$3.0Bn/m | -$960.9Mn/m | -$2.7Bn/m | -$1.7B |
| Financing Cash Flow | -$1.6B-447.4% | $470.8Mn/m | -$1.4Bn/m | -$2.0Bn/m | -$1.3Bn/m | -$634.4M-160.9% | $1.0Bn/m | -$825.3M-149.1% | $1.7B+85.7% | $905.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $1.2B+17.5% | $1.0B+11.7% | $914.0M+46.5% | $624.0M+138.7% | $261.4M |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
PBA 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.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.0%-3.9pp | 44.9%+0.1pp | 44.9%+18.0pp | 26.9%-3.8pp | 30.7%-3.0pp | 33.7%-4.6pp | 38.3%+6.7pp | 31.7%+4.4pp | 27.3%+3.8pp | 23.5% |
| Operating Margin | 36.1%+5.2pp | 30.9%-11.0pp | 41.9%+10.0pp | 31.9%+7.4pp | 24.5%+24.4pp | 0.1%-28.7pp | 28.7%+1.3pp | 27.5%+5.1pp | 22.4%+3.5pp | 18.9% |
| Net Margin | 21.8%-3.5pp | 25.2%-2.8pp | 28.1%+2.5pp | 25.6%+11.2pp | 14.4%+19.7pp | -5.3%-11.1pp | 5.8%+0.2pp | 5.6%+3.4pp | 2.1%-8.8pp | 10.9% |
| Return on Equity | 10.1%-0.5pp | 10.7%-0.6pp | 11.2%-7.7pp | 18.9%+10.2pp | 8.7%+10.8pp | -2.1%-4.3pp | 2.2%-0.7pp | 2.9%+2.0pp | 0.8%-4.8pp | 5.6% |
| Return on Assets | 4.8%-0.4pp | 5.2%-0.3pp | 5.4%-4.0pp | 9.4%+5.5pp | 4.0%+5.0pp | -1.0%-2.1pp | 1.1%-0.4pp | 1.5%+1.1pp | 0.4%-2.6pp | 3.1% |
| Current Ratio | 0.61+0.1x | 0.54-0.3x | 0.82+0.2x | 0.66+0.1x | 0.520.0x | 0.56-0.1x | 0.680.0x | 0.68-0.2x | 0.890.0x | 0.87 |
| Debt-to-Equity | 0.66+0.1x | 0.600.0x | 0.590.0x | 0.60-0.1x | 0.670.0x | 0.69+0.1x | 0.60+0.1x | 0.490.0x | 0.530.0x | 0.48 |
| Liabilities-to-Equity | 1.12+0.1x | 1.050.0x | 1.06+0.1x | 1.00-0.2x | 1.20+0.1x | 1.10+0.2x | 0.95+0.1x | 0.850.0x | 0.850.0x | 0.81 |
| Asset Turnover | 0.220.0x | 0.210.0x | 0.19-0.2x | 0.37+0.1x | 0.27+0.1x | 0.190.0x | 0.19-0.1x | 0.28+0.1x | 0.21-0.1x | 0.28 |
Not reported in any period shown, so not listed: FCF Margin.
Note: The current ratio is below 1.0 (0.61), 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 |
|---|---|---|---|---|---|---|
| PEMBINA PIPELINE CORPORATION PBA | FY2025 | $5.7B | $1.2B | 21.8% | $29.3B | 50/100 |
| Cheniere Energy Partners, LP CQP | FY2025 | $10.8B | $3.0B | 27.8% | $32.0B | 62/100 |
| Targa Resources Corp. TRGP | FY2025 | $17.0B | $1.9B | 11.3% | $64.8B | 45/100 |
| Western Midstream Partners, LP WES | FY2025 | $3.8B | $1.2B | 30.7% | $18.6B | 69/100 |
| Venture Global, Inc. VG | FY2025 | $13.8B | $2.3B | 16.4% | $35.0B | 47/100 |
| Plains All American Pipeline, L.P. Common Units PAA | FY2025 | $44.3B | $1.4B | 3.2% | $18.8B | 36/100 |
Where PEMBINA PIPELINE CORPORATION Ranks
Frequently Asked Questions
What is PEMBINA PIPELINE CORPORATION's annual revenue?
PEMBINA PIPELINE CORPORATION (PBA) reported $5.7B in total revenue for fiscal year 2025. This represents a 10.6% 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 PEMBINA PIPELINE CORPORATION's revenue growing?
PEMBINA PIPELINE CORPORATION (PBA) revenue grew by 10.6% year-over-year, from $5.1B to $5.7B in fiscal year 2025.
Is PEMBINA PIPELINE CORPORATION profitable?
Yes, PEMBINA PIPELINE CORPORATION (PBA) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 21.8%.
What is PEMBINA PIPELINE CORPORATION's EBITDA?
PEMBINA PIPELINE CORPORATION (PBA) had EBITDA of $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does PEMBINA PIPELINE CORPORATION have?
As of fiscal year 2025, PEMBINA PIPELINE CORPORATION (PBA) had $77.3M in cash and equivalents against $8.1B in long-term debt.
What is PEMBINA PIPELINE CORPORATION's gross margin?
PEMBINA PIPELINE CORPORATION (PBA) had a gross margin of 41.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is PEMBINA PIPELINE CORPORATION's operating margin?
PEMBINA PIPELINE CORPORATION (PBA) had an operating margin of 36.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is PEMBINA PIPELINE CORPORATION's net profit margin?
PEMBINA PIPELINE CORPORATION (PBA) had a net profit margin of 21.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is PEMBINA PIPELINE CORPORATION's return on equity (ROE)?
PEMBINA PIPELINE CORPORATION (PBA) has a return on equity of 10.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is PEMBINA PIPELINE CORPORATION's operating cash flow?
PEMBINA PIPELINE CORPORATION (PBA) generated $2.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are PEMBINA PIPELINE CORPORATION's total assets?
PEMBINA PIPELINE CORPORATION (PBA) had $25.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What is PEMBINA PIPELINE CORPORATION's current ratio?
PEMBINA PIPELINE CORPORATION (PBA) had a current ratio of 0.61 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is PEMBINA PIPELINE CORPORATION's debt-to-equity ratio?
PEMBINA PIPELINE CORPORATION (PBA) had a debt-to-equity ratio of 0.66 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is PEMBINA PIPELINE CORPORATION's liabilities-to-equity ratio?
PEMBINA PIPELINE CORPORATION (PBA) had a liabilities-to-equity ratio of 1.12 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is PEMBINA PIPELINE CORPORATION's return on assets (ROA)?
PEMBINA PIPELINE CORPORATION (PBA) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is PEMBINA PIPELINE CORPORATION's P/E ratio?
PEMBINA PIPELINE CORPORATION (PBA) trades at 23.7x earnings, its market capitalization divided by $1.2B net income, FY2025. The market capitalization is $29.3B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is PEMBINA PIPELINE CORPORATION's price-to-sales ratio?
PEMBINA PIPELINE CORPORATION (PBA) trades at 5.2x sales, its market capitalization divided by $5.7B revenue, FY2025. The market capitalization is $29.3B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is PEMBINA PIPELINE CORPORATION's Piotroski F-Score?
PEMBINA PIPELINE CORPORATION (PBA) has a Piotroski F-Score of 5 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are PEMBINA PIPELINE CORPORATION's earnings high quality?
PEMBINA PIPELINE CORPORATION (PBA) has an earnings quality ratio of 1.95x, 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.
Can PEMBINA PIPELINE CORPORATION cover its interest payments?
PEMBINA PIPELINE CORPORATION (PBA) has an interest coverage ratio of 5.45x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is PEMBINA PIPELINE CORPORATION?
PEMBINA PIPELINE CORPORATION (PBA) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average 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. For PEMBINA PIPELINE CORPORATION it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.