Recent News
Nov 19, 2025 — The company filed an at-the-market equity issuance program allowing up to $400 million of class A exchangeable shares to be sold from treasury. Jan 29, 2026 — Brookfield Infrastructure announced a distribution increase (its 17th consecutive rise), disclosed accelerated asset recycling and recent acquisitions including a railcar leasing platform, and described an expanded pipeline for data‑center and AI‑related infrastructure projects with multi-year contracts and programmatic asset sales expected through 2026.
Technical Analysis
ADX at 33.42 indicates a strong underlying trend strength; that strength magnifies the near-term directional bias rather than defining direction by itself.
DI+ sits at 27.4 and is increasing while DI‑ reads 10.31 and is decreasing, a configuration that signals bullish directional pressure and accumulation into the trend.
MACD registers 0.96 and has crossed above its 0.52 signal line with an increasing MACD trend, which signals bullish momentum and supports continued upside pressure in the near term.
MRO at 26.55 coupled with a peak-and-reversal pattern indicates the market price sits above the model target and carries a risk of a corrective pullback from a stretched level despite the bullish momentum signals.
RSI at 57.3 and increasing shows constructive momentum without overbought extremes, consistent with price holding above short- and long-term averages (price $50.01 above the 200‑day average of $42.26 and above the 20‑day average of $47.19), supporting near-term continuation while leaving room for consolidation.
Price trades above the upper 1‑sigma Bollinger band (upper 1x = $49.31) and above the 52‑week high listed here, which, combined with the MRO reading, elevates the probability of a short corrective pullback even as EMA and MACD momentum remain bullish.
Fundamental Analysis
Profitability and margins: EBIT of $728M and EBITDA of $895M produce an EBIT margin of 79.39%, which sits well above the industry peer mean of 25.39% and the industry peer median of 26.47%. QoQ EBIT margin improved ~10.46% while YoY EBIT margin fell ~2.59%, showing sequential margin recovery after a modest year‑over‑year compression.
Revenue & earnings trajectory: Total revenue reached $917M with YoY revenue growth of 12.35% but a QoQ revenue decline of 1.87%. Reported EPS came in at -$0.30 versus an estimate of $2.25, an EPS surprise of -113.33%, reflecting the difference between reported and expected per‑share results and producing a large trailing distortion in earnings multiples.
Liquidity and leverage: Cash and short‑term investments total $438M against net debt of $13.106B and market capitalization of $5.106B, leaving net debt substantially larger than equity market value. Current ratio stands at 0.30 versus an industry peer mean of 1.07, signaling constrained near‑term liquidity. Debt to assets sits at 56.21%, above the industry peer mean of 42.26%, and debt to EBITDA registers 7.58x, underscoring elevated leverage relative to operating cash generation.
Cash flow and distributions: Operating cash flow and free cash flow both at $389M, free cash flow yield 36.63% (QoQ +5.42%, YoY +48.76%), and free cash flow to net income at 22.80% indicate meaningful cash conversion. The dividend yield reads 8.52% with a dividend coverage ratio of 18.85%, and distributions continue to increase per the recent company announcement.
Returns and valuation signals: Return on equity stands negative at -6.83% while return on invested capital at 4.56% and return on assets at 0.34% point to modest operating returns on a highly leveraged base. Trailing P/E sits anomalously high at ~428.85 due to negative trailing EPS, while forward P/E is materially lower at ~14.94 based on forward EPS of $2.8675. Enterprise multiple near 10.24 and an enterprise value around $18.21B versus market cap $5.11B reflect the substantial net debt component. WMDST values the stock as under-valued on the basis of forward multiples and strong free cash flow yield, but balance-sheet leverage and negative book value (book value per share at -$10.08) remain key constraints.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2026-01-29 |
| NEXT REPORT DATE: | 2026-04-30 |
| CASH FLOW | Begin Period Cash Flow | $ 1.2 B |
| Operating Cash Flow | $ 389.0 M | |
| Capital Expenditures | $ -1.01 B | |
| Change In Working Capital | $ 46.0 M | |
| Dividends Paid | $ -435.00 M | |
| Cash Flow Delta | $ 271.0 M | |
| End Period Cash Flow | $ 380.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 917.0 M | |
| Forward Revenue | $ 954.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 336.0 M | |
| Depreciation | $ 167.0 M | |
| Depreciation and Amortization | $ 167.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 356.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 581.0 M | |
| EBITDA | $ 895.0 M | |
| EBIT | $ 728.0 M | |
| Operating Income | $ 561.0 M | |
| Interest Income | — | |
| Interest Expense | $ 312.0 M | |
| Net Interest Income | $ -312.00 M | |
| Income Before Tax | $ 416.0 M | |
| Tax Provision | $ 96.0 M | |
| Tax Rate | 23.077 % | |
| Net Income | $ 82.0 M | |
| Net Income From Continuing Operations | $ 320.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 2.25 | |
| EPS Actual | $ -0.30 | |
| EPS Difference | $ -2.55 | |
| EPS Surprise | -113.333 % | |
| Forward EPS | $ 2.87 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 24.0 B | |
| Intangible Assets | $ 4.9 B | |
| Net Tangible Assets | $ -6.11 B | |
| Total Current Assets | $ 3.0 B | |
| Cash and Short-Term Investments | $ 438.0 M | |
| Cash | $ 380.0 M | |
| Net Receivables | $ 1.1 B | |
| Inventory | — | |
| Long-Term Investments | $ 1.7 B | |
| LIABILITIES | ||
| Accounts Payable | $ 1.1 B | |
| Short-Term Debt | $ 1.2 B | |
| Total Current Liabilities | $ 7.2 B | |
| Net Debt | $ 13.1 B | |
| Total Debt | $ 13.5 B | |
| Total Liabilities | $ 21.8 B | |
| EQUITY | ||
| Total Equity | $ -1.20 B | |
| Retained Earnings | $ 503.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ -10.08 | |
| Shares Outstanding | 119.067 M | |
| Revenue Per-Share | $ 7.70 | |
| VALUATION | Market Capitalization | $ 5.1 B |
| Enterprise Value | $ 18.2 B | |
| Enterprise Multiple | 10.243 | |
| Enterprise Multiple QoQ | -86.929 % | |
| Enterprise Multiple YoY | -144.987 % | |
| Enterprise Multiple IPRWA | high: 73.063 mean: 51.907 median: 47.92 low: 23.977 BIPC: 10.243 |
|
| EV/R | 19.86 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | -19.995 | |
| Asset To Liability | 1.101 | |
| Debt To Capital | 1.098 | |
| Debt To Assets | 0.562 | |
| Debt To Assets QoQ | 1.418 % | |
| Debt To Assets YoY | 1406.863 % | |
| Debt To Assets IPRWA | BIPC: 0.562 high: 0.498 median: 0.435 mean: 0.423 low: 0.306 |
|
| Debt To Equity | -11.238 | |
| Debt To Equity QoQ | 4.996 % | |
| Debt To Equity YoY | 854.01 % | |
| Debt To Equity IPRWA | high: 2.092 median: 1.631 mean: 1.576 low: 0.014 BIPC: -11.238 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | -4.255 | |
| Price To Book QoQ | 11.65 % | |
| Price To Book YoY | -38.644 % | |
| Price To Book IPRWA | high: 2.854 median: 2.193 mean: 2.092 low: 0.458 BIPC: -4.255 |
|
| Price To Earnings (P/E) | 428.848 | |
| Price To Earnings QoQ | 0.0 % | |
| Price To Earnings YoY | -7395.522 % | |
| Price To Earnings IPRWA | BIPC: 428.848 high: 222.397 mean: 85.235 median: 76.848 low: 52.412 |
|
| PE/G Ratio | -3.676 | |
| Price To Sales (P/S) | 5.568 | |
| Price To Sales QoQ | 2.204 % | |
| Price To Sales YoY | -4.154 % | |
| Price To Sales IPRWA | high: 18.03 mean: 12.431 median: 11.276 BIPC: 5.568 low: 1.895 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 14.942 | |
| Forward PE/G | -0.128 | |
| Forward P/S | 5.728 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 189.048 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.038 | |
| Asset Turnover Ratio QoQ | 2.738 % | |
| Asset Turnover Ratio YoY | 0.288 % | |
| Asset Turnover Ratio IPRWA | high: 0.069 mean: 0.046 median: 0.043 BIPC: 0.038 low: 0.03 |
|
| Receivables Turnover | 0.93 | |
| Receivables Turnover Ratio QoQ | -7.374 % | |
| Receivables Turnover Ratio YoY | -11.893 % | |
| Receivables Turnover Ratio IPRWA | high: 2.509 mean: 1.979 median: 1.977 low: 1.131 BIPC: 0.93 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 98.116 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -350.394 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 166.283 mean: 24.958 median: 15.655 low: -52.238 BIPC: -350.394 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -0.217 | |
| CapEx To Revenue | -1.1 | |
| CapEx To Depreciation | -6.042 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 11.1 B | |
| Net Invested Capital | $ 12.3 B | |
| Invested Capital | $ 12.3 B | |
| Net Tangible Assets | $ -6.11 B | |
| Net Working Capital | $ -4.19 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.063 | |
| Current Ratio | 0.3 | |
| Current Ratio QoQ | -39.462 % | |
| Current Ratio YoY | -30.372 % | |
| Current Ratio IPRWA | high: 3.431 mean: 1.073 median: 0.899 low: 0.498 BIPC: 0.3 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 7.585 | |
| Cost Of Debt | 1.795 % | |
| Interest Coverage Ratio | 2.333 | |
| Interest Coverage Ratio QoQ | 938.328 % | |
| Interest Coverage Ratio YoY | -238.253 % | |
| Interest Coverage Ratio IPRWA | high: 3.88 mean: 2.423 median: 2.362 BIPC: 2.333 low: 0.85 |
|
| Operating Cash Flow Ratio | 0.176 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 350.394 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 0.189 | |
| Dividend Payout Ratio | 5.305 | |
| Dividend Rate | $ 3.65 | |
| Dividend Yield | 0.085 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.351 % | |
| Revenue Growth | 5.889 % | |
| Revenue Growth QoQ | -186.846 % | |
| Revenue Growth YoY | 1235.374 % | |
| Revenue Growth IPRWA | high: 49.057 % mean: 10.417 % BIPC: 5.889 % median: 5.033 % low: -2.005 % |
|
| Earnings Growth | -116.667 % | |
| Earnings Growth QoQ | 46.581 % | |
| Earnings Growth YoY | -60.962 % | |
| Earnings Growth IPRWA | high: 183.582 % mean: 54.897 % median: 41.333 % low: -88.0 % BIPC: -116.667 % |
|
| MARGINS | ||
| Gross Margin | 63.359 % | |
| Gross Margin QoQ | -2.543 % | |
| Gross Margin YoY | 0.844 % | |
| Gross Margin IPRWA | high: 78.325 % BIPC: 63.359 % mean: 46.445 % median: 43.345 % low: 21.702 % |
|
| EBIT Margin | 79.389 % | |
| EBIT Margin QoQ | 1045.915 % | |
| EBIT Margin YoY | -259.477 % | |
| EBIT Margin IPRWA | BIPC: 79.389 % high: 34.326 % median: 26.468 % mean: 25.392 % low: -3.146 % |
|
| Return On Sales (ROS) | 61.178 % | |
| Return On Sales QoQ | -2.431 % | |
| Return On Sales YoY | -222.894 % | |
| Return On Sales IPRWA | BIPC: 61.178 % high: 32.45 % mean: 22.968 % median: 21.722 % low: -3.146 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 389.0 M | |
| Free Cash Flow Yield | 36.627 % | |
| Free Cash Flow Yield QoQ | 542.354 % | |
| Free Cash Flow Yield YoY | 4876.495 % | |
| Free Cash Flow Yield IPRWA | BIPC: 36.627 % high: 2.766 % mean: -1.715 % median: -1.936 % low: -5.102 % |
|
| Free Cash Growth | 595.167 % | |
| Free Cash Growth QoQ | 299.243 % | |
| Free Cash Growth YoY | -1031.564 % | |
| Free Cash Growth IPRWA | high: 1291.785 % BIPC: 595.167 % median: -4.539 % mean: -34.401 % low: -2050.0 % |
|
| Free Cash To Net Income | 22.805 | |
| Cash Flow Margin | 115.485 % | |
| Cash Flow To Earnings | 12.915 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 0.342 % | |
| Return On Assets QoQ | -116.667 % | |
| Return On Assets YoY | -108.364 % | |
| Return On Assets IPRWA | high: 1.735 % median: 0.657 % mean: 0.608 % BIPC: 0.342 % low: -0.016 % |
|
| Return On Capital Employed (ROCE) | 4.053 % | |
| Return On Equity (ROE) | -0.068 | |
| Return On Equity QoQ | -117.734 % | |
| Return On Equity YoY | -105.343 % | |
| Return On Equity IPRWA | high: 0.054 median: 0.028 mean: 0.025 low: -0.001 BIPC: -0.068 |
|
| DuPont ROE | -6.726 % | |
| Return On Invested Capital (ROIC) | 4.558 % | |
| Return On Invested Capital QoQ | 1281.212 % | |
| Return On Invested Capital YoY | -109.462 % | |
| Return On Invested Capital IPRWA | BIPC: 4.558 % high: 3.299 % median: 1.453 % mean: 1.387 % low: -0.601 % |
|