Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
PBA · NYSE · United States · Oil & Gas Field Exploration Services
In shortPEMBINA PIPELINE CORP is profitable, generates cash and carries moderate debt, with revenue growing (+5.3% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 36.1% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 21.8% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 9.9% | 49/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 7.6% | 51/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.61× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.70× | 72/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 3.05× | 27/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 4.67× | 30/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 42.4% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.95× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 35.2% | 0/100 |
| Operating margin volatility | 6.5% | 50/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -12.5% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | -19.6% | 0/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
CAD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 8,627 | 11,611 | 6,331 | 7,384 | 7,778 |
| Cost of revenue | 6,134 | 8,877 | 3,807 | 4,396 | 4,794 |
| Gross profit | 2,647 | 3,123 | 2,840 | 3,316 | 3,193 |
| Selling, general & admin | 306 | 399 | 422 | 444 | 477 |
| Operating income | 2,115 | 3,705 | 2,655 | 2,281 | 2,809 |
| Interest expense | 450 | 486 | 466 | 561 | 602 |
| Pre-tax income | 1,665 | 3,219 | 2,189 | 1,720 | 2,207 |
| Income tax | 423 | 248 | 413 | (154) | 513 |
| Net income | 1,242 | 2,971 | 1,776 | 1,864 | 1,694 |
| Diluted EPS | C$1.99 | C$5.12 | C$2.99 | C$3.00 | C$2.66 |
| Diluted shares (millions) | 551 | 554 | 551 | 574 | 582 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Feb 27, 2026