Pembina Pipeline - Public Comps and Valuation Multiples

Pembina Pipeline Overview

About Pembina Pipeline

Pembina Pipeline is a midstream company serving the Canadian and North American (primarily Bakken) markets with an integrated product portfolio. Its operations include transmission pipelines, oil and gas gathering, fractionation, storage, and natural gas liquid exports.

Founded

2010

HQ

Employees

3.0K+

Website

pembina.com

Sectors

Energy Services
Fossil Fuels

Financials

LTM Revenue $5.6B

LTM EBITDA $3.1B

EV

$32.7B

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Pembina Pipeline Financials

As of September 2025, Pembina Pipeline reported last 12-month revenue of $5.6B and EBITDA of $3.1B.

In the same period, Pembina Pipeline generated $2.9B in LTM gross profit and $1.2B in net income.

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Pembina Pipeline P&L

In the most recent fiscal year, Pembina Pipeline reported revenue of $5.3B and EBITDA of $2.3B.

Pembina Pipeline expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$5.6B	XXX	$5.3B	XXX	XXX	XXX
Gross Profit	$2.9B	XXX	$2.4B	XXX	XXX	XXX
Gross Margin	51%	XXX	45%	XXX	XXX	XXX
EBITDA	$3.1B	XXX	$2.3B	XXX	XXX	XXX
EBITDA Margin	55%	XXX	43%	XXX	XXX	XXX
EBIT	$2.3B	XXX	$2.1B	XXX	XXX	XXX
EBIT Margin	41%	XXX	39%	XXX	XXX	XXX
Net Profit	$1.2B	XXX	$1.3B	XXX	XXX	XXX
Net Margin	22%	XXX	25%	XXX	XXX	XXX
Net Debt	XXX	XXX	$8.9B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Pembina Pipeline including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $5.6B. EBITDA for the last twelve months was $3.1B. In the most recent fiscal year, Pembina Pipeline achieved $5.3B in revenue and $2.3B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$5.6B	Analyst estimates available to subscribers	$5.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$2.9B	Analyst estimates available to subscribers	$2.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	51.4% gross margin	Analyst estimates available to subscribers	44.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$3.1B	Analyst estimates available to subscribers	$2.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	54.9% EBITDA margin	Analyst estimates available to subscribers	43.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$2.3B	Analyst estimates available to subscribers	$2.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	40.8% EBIT margin	Analyst estimates available to subscribers	39.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$1.2B	Analyst estimates available to subscribers	$1.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	22.0% net profit margin	Analyst estimates available to subscribers	25.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$8.9B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Pembina Pipeline

This financial data table provides comprehensive performance metrics for Pembina Pipeline, a company based in Canada. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Pembina Pipeline generated $5.6B in revenue over the last twelve months.
The company achieved $3.1B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $2.9B.
Net income over the last twelve months reached $1.2B.

Fiscal Year Performance

In the most recent fiscal year, Pembina Pipeline reported $5.3B in total revenue.
Fiscal year EBITDA was $2.3B.
The company maintained a gross profit margin of 44.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 43.0%.
Net profit margin reached 25.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Pembina Pipeline. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Pembina Pipeline Stock Performance

Pembina Pipeline has current market cap of CAD 30.8B (or $22.0B), and EV of CAD 46.0B (or $32.7B).

Market Cap Evolution

Pembina Pipeline Stock Data

As of October 17, 2025, Pembina Pipeline's stock price is CAD 53 (or $38).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$32.7B	$22.0B	XXX	XXX	XXX	XXX	$2.10

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Pembina Pipeline Valuation Multiples

Pembina Pipeline's trades at 6.2x EV/Revenue multiple, and 14.5x EV/EBITDA.

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Pembina Pipeline Financial Valuation Multiples

As of October 17, 2025, Pembina Pipeline has market cap of $22.0B and EV of $32.7B.

Equity research analysts estimate Pembina Pipeline's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Pembina Pipeline has a P/E ratio of 17.8x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$22.0B	XXX	$22.0B	XXX	XXX	XXX
EV (current)	$32.7B	XXX	$32.7B	XXX	XXX	XXX
EV/Revenue	5.8x	XXX	6.2x	XXX	XXX	XXX
EV/EBITDA	10.6x	XXX	14.5x	XXX	XXX	XXX
EV/EBIT	14.3x	XXX	15.9x	XXX	XXX	XXX
EV/Gross Profit	11.3x	XXX	n/a	XXX	XXX	XXX
P/E	17.8x	XXX	16.5x	XXX	XXX	XXX
EV/FCF	23.1x	XXX	20.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Pembina Pipeline Margins & Growth Rates

Pembina Pipeline's last 12 month revenue growth is 10%

Pembina Pipeline's revenue per employee in the last FY averaged $1.8M, while opex per employee averaged $0.1M for the same period.

Pembina Pipeline's rule of 40 is 46% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Pembina Pipeline's rule of X is 79% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Pembina Pipeline Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	10%	XXX	9%	XXX	XXX	XXX
EBITDA Margin	55%	XXX	43%	XXX	XXX	XXX
EBITDA Growth	2%	XXX	14%	XXX	XXX	XXX
Rule of 40	46%	XXX	53%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	79%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.8M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	6%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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