Enbridge Inc ENB

Competitive advantage analysis · energy

Corporate Default
Overall moat score
43/100
Developing

About Enbridge Inc

Enbridge Inc., together with its subsidiaries, operates as an energy infrastructure company. The company operates through four segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation. The Liquids Pipelines segment operates pipelines and related terminals to transport, store, and export various grades of crude oil and other liquid hydrocarbons in Canada and the United States. This … Full ENB analysis →

Competitive advantage assessment

Key strengths

  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.78), suggesting sticky customer base.

Key risks

  • Elevated Debt Risk Debt serviceability is weak (score 0.33), raising refinancing risk.
  • Liquidity Concerns Liquidity is concerning (score 0.16), raising questions about short-term obligations.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
49

Where ENB ranks in Oil & Gas Midstream

Enbridge Inc ranks #39 of 56 scored companies in Oil & Gas Midstream by moat score — the top 70%. The widest moat in the group is Hess Midstream LP (HESM) at 84/100.

Moat scores for companies ranked near ENB in Oil & Gas Midstream
# Company Moat score Rating
35 KNOT Offshore Partners LP KNOP 45/100 Developing
36 ONEOK, Inc. OKE 44/100 Developing
37 Martin Midstream Partners L.P. MMLP 44/100 Developing
38 Plains GP Holdings, L.P. PAGP 43/100 Developing
39 Enbridge Inc ENB 43/100 Developing
40 Energy Transfer LP ET 41/100 Developing
41 Plains All American Pipeline, L PAA 40/100 Developing
42 Global Partners LP GLP 39/100 Developing
43 Genesis Energy, L.P. GEL 38/100 Developing

See every Commodities & Mining company ranked by moat score →

How ENB scores on the Corporate Default defenses

Pricing Power

Score 49 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 32 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 51 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 52 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 28 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 40 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding ENB's moat

What is Enbridge Inc's moat score?

Enbridge Inc (ENB) scores 43 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #39 of 56 scored companies in Oil & Gas Midstream, the top 70%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Capital Efficiency (52/100) and its weakest is Resilience (28/100).

How does Enbridge Inc compare with other Oil & Gas Midstream companies?

Enbridge Inc ranks #39 of 56 scored companies in Oil & Gas Midstream by moat score. The widest moat in Oil & Gas Midstream is Hess Midstream LP (HESM) at 84/100. The companies ranked closest are Plains GP Holdings, L.P. (PAGP) at 43 just above it and Energy Transfer LP (ET) at 41 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.

Why is Enbridge Inc scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Enbridge Inc?

The Corporate Default template measures 6 defenses, and ENB scores: Pricing Power (49), Cost Advantage (32), Customer Stickiness (51), Capital Efficiency (52), Resilience (28), Scale & Market Position (40). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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