ENBRIDGE INC. vs PLAINS GP HOLDINGS LP, two Pipelines stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The largest North American pipeline against a general-partner holding vehicle, Enbridge at $123.1B dwarfing Plains GP's $15.5B claim on the Plains crude network. Enbridge keeps 8.08% of revenue against Plains GP's reported 0.43%, a thin figure shaped by partnership structure. Plains GP yields far more free cash, 13.44% against Enbridge's 1.12%, the payout being the whole point of the holding entity. Enbridge earns 8.24% on equity, trades at 25.94 times earnings and 2.47 times book, pays 4.93% on nearly no debt at 0.02 turns. The pipeline operator is the diversified toll collector; Plains GP is a corporation-form stake in one crude-logistics system.
Comparison updated 2026-07-11.
| Metric | ENB | PAGP |
|---|---|---|
| Price | $54.66 | $24.75 |
| Market cap | $119.6B | $16.1B |
| Sector | Pipelines | Pipelines |
| Stage | Growth | Mature |
| P/E | 25.2 | — |
| P/B | 2.40 | — |
| P/S | 2.36 | 0.36 |
| EV/EBITDA | 10.0 | 7.1 |
| Revenue growth | +14.1% | -6.8% |
| Operating margin | 14.4% | 3.2% |
| Net margin | 8.1% | 0.4% |
| Return on equity | 8.2% | — |
| Return on assets | 2.5% | 0.6% |
| Return on invested capital | 11.4% | 94.9% |
| FCF yield | 1.1% | 12.9% |
| Dividend yield | 5.1% | — |
| Debt / equity | 0.02 | — |
| Current ratio | 0.81 | 0.94 |
| Altman Z (solvency) | 0.82 | 7.41 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.