Brookfield Infrastructure Corporation (BIPC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1643.9%

-$599.33

vs $38.82 price

Levered DCF

$314.79

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.4

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-22.04×	-7.83×	42×	3.93×	-13.75×	-5.89×	7.69×	7.48×
P/B	-4.17×	-3.8×	-11.66×	-3.84×	-2.36×	-1.89×	0.91×	1.03×
P/S	1.45×	1.3×	1.83×	2.28×	3.08×	2.27×	0.91×	1.02×
EV / EBITDA	6.22×	7.19×	7.75×	3.21×	8.62×	14.38×	3.63×	3.84×
Gross margin	63.6%	62.4%	68.9%	71.3%	68.0%	63.1%	65.9%	64.4%
Operating margin	61.5%	60.4%	66.2%	67.6%	65.0%	0.0%	62.6%	66.3%
Net margin	-6.6%	-16.6%	4.4%	58.0%	-22.4%	-38.6%	11.9%	13.6%
Current ratio	0.26×	0.62×	0.44×	0.34×	0.32×	0.21×	1.2×	1.25×
Debt / equity	-10.23×	-9.8×	-30.21×	-4.11×	-1.73×	-2.68×	2.13×	2.22×
Interest coverage	1.95×	2.08×	2.42×	2.34×	3.6×	0×	6.65×	7.73×
Dividend yield	3.8%	4.0%	4.3%	3.7%	3.0%	15.2%	16.6%	44.7%
Payout ratio	-83.5%	-31.7%	178.5%	14.5%	-41.1%	-89.5%	126.9%	335.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	18.9%	48.5%	-28.3%	-97.8%	17.1%	32.1%	11.9%	13.8%
Return on invested capital	8.4%	2.2%	5.6%	18.6%	1.6%	0.0%	7.5%	7.9%
Return on assets	-1.0%	-2.6%	0.5%	10.7%	-3.6%	-5.9%	2.0%	2.2%
Free cash flow yield	4.0%	7.1%	10.0%	8.6%	8.5%	10.2%	40.9%	41.1%
Earnings yield	-4.5%	-12.8%	2.4%	25.4%	-7.3%	-17.0%	13.1%	13.4%
Enterprise value	$18.2B	$16.4B	$16.2B	$8.5B	$8.2B	$7.7B	$4.8B	$4.7B
Net debt / EBITDA	4.38×	5.1×	5.52×	1.58×	3.37×	8.29×	2.5×	2.59×
Cash conversion cycle (days)	-84	185	272	165	308	30	20	34