Pembina Pipeline Corp (PPL) - Net Assets

Latest as of December 2025: CA$16.77 Billion CAD ≈ $12.13 Billion USD

Based on the latest financial reports, Pembina Pipeline Corp (PPL) has net assets worth CA$16.77 Billion CAD (≈ $12.13 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$35.55 Billion ≈ $25.72 Billion USD) and total liabilities (CA$18.78 Billion ≈ $13.59 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how resilient are Pembina Pipeline Corp's assets to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$16.77 Billion
% of Total Assets	47.17%
Annual Growth Rate	13.61%
5-Year Change	16.77%
10-Year Change	102.16%
Growth Volatility	65.87

Pembina Pipeline Corp - Net Assets Trend (1998–2025)

This chart illustrates how Pembina Pipeline Corp's net assets have evolved over time, based on quarterly financial data. Also explore Pembina Pipeline Corp balance sheet assets for the complete picture of this company's asset base.

Annual Net Assets for Pembina Pipeline Corp (1998–2025)

The table below shows the annual net assets of Pembina Pipeline Corp from 1998 to 2025. For live valuation and market cap data, see PPL market cap overview.

Year	Net Assets	Change
2025-12-31	CA$16.77 Billion ≈ $12.13 Billion	-4.22%
2024-12-31	CA$17.51 Billion ≈ $12.67 Billion	+10.73%
2023-12-31	CA$15.81 Billion ≈ $11.44 Billion	+0.15%
2022-12-31	CA$15.79 Billion ≈ $11.42 Billion	+9.93%
2021-12-31	CA$14.36 Billion ≈ $10.39 Billion	-4.34%
2020-12-31	CA$15.02 Billion ≈ $10.86 Billion	-10.47%
2019-12-31	CA$16.77 Billion ≈ $12.13 Billion	+16.43%
2018-12-31	CA$14.40 Billion ≈ $10.42 Billion	+4.01%
2017-12-31	CA$13.85 Billion ≈ $10.02 Billion	+66.94%
2016-12-31	CA$8.30 Billion ≈ $6.00 Billion	+11.75%
2015-12-31	CA$7.42 Billion ≈ $5.37 Billion	+17.17%
2014-12-31	CA$6.34 Billion ≈ $4.58 Billion	+22.53%
2013-12-31	CA$5.17 Billion ≈ $3.74 Billion	+20.95%
2012-12-31	CA$4.28 Billion ≈ $3.09 Billion	+344.61%
2011-12-31	CA$961.62 Million ≈ $695.62 Million	-18.52%
2010-12-31	CA$1.18 Billion ≈ $853.71 Million	+4.50%
2009-12-31	CA$1.13 Billion ≈ $816.97 Million	+27.87%
2008-12-31	CA$883.23 Million ≈ $638.92 Million	-2.81%
2007-12-31	CA$908.74 Million ≈ $657.37 Million	+6.60%
2006-12-31	CA$852.48 Million ≈ $616.67 Million	+14.64%
2005-12-31	CA$743.61 Million ≈ $537.92 Million	+13.52%
2004-12-31	CA$655.05 Million ≈ $473.85 Million	-29.27%
2003-12-31	CA$926.13 Million ≈ $669.95 Million	+26.41%
2002-12-31	CA$732.62 Million ≈ $529.96 Million	-4.74%
2001-12-31	CA$769.06 Million ≈ $556.32 Million	+34.66%
2000-12-31	CA$571.12 Million ≈ $413.14 Million	+15.46%
1999-12-31	CA$494.64 Million ≈ $357.81 Million	-7.42%
1998-12-31	CA$534.27 Million ≈ $386.48 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Pembina Pipeline Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 233679900000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	CA$17.02 Billion	101.46%
Other Comprehensive Income	CA$407.00 Million	2.43%
Other Components	CA$1.73 Billion	10.31%
Total Equity	CA$16.77 Billion	100.00%

Pembina Pipeline Corp Competitors by Market Cap

The table below lists competitors of Pembina Pipeline Corp ranked by their market capitalization.

Company	Market Cap
TDK Corporation F:TDKA	$26.60 Billion
Capitec Bank Holdings Ltd JSE:CPI	$26.62 Billion
Kraft Heinz Co NASDAQ:KHC	$26.62 Billion
Workday Inc NASDAQ:WDAY	$26.66 Billion
Bank Rakyat Indonesia Persero JK:BBRI	$26.55 Billion
CK HUTCHISON HLDGS ADR 1 F:2CKA	$26.54 Billion
WOODSIDE ENE. SP.ADR 1 F:WOP	$26.53 Billion
Sampo Oyj A HE:SAMPO	$26.48 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Pembina Pipeline Corp's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 17,510,000,000 to 16,771,000,000, a change of -739,000,000 (-4.2%).
Net income of 1,694,000,000 contributed positively to equity growth.
Dividend payments of 1,772,000,000 reduced retained earnings.
Share repurchases of 451,000,000 reduced equity.
Other comprehensive income decreased equity by 234,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$1.69 Billion	+10.1%
Dividends Paid	CA$1.77 Billion	-10.57%
Share Repurchases	CA$451.00 Million	-2.69%
Other Comprehensive Income	CA$-234.00 Million	-1.4%
Other Changes	CA$24.00 Million	+0.14%
Total Change	CA$-	-4.22%

Book Value vs Market Value Analysis

This analysis compares Pembina Pipeline Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 2.19x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 7.36x to 2.19x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1998-12-31	CA$8.59	CA$63.20	x
1999-12-31	CA$7.92	CA$63.20	x
2000-12-31	CA$8.70	CA$63.20	x
2001-12-31	CA$9.36	CA$63.20	x
2002-12-31	CA$7.26	CA$63.20	x
2003-12-31	CA$7.30	CA$63.20	x
2004-12-31	CA$6.50	CA$63.20	x
2005-12-31	CA$6.86	CA$63.20	x
2006-12-31	CA$7.00	CA$63.20	x
2007-12-31	CA$6.77	CA$63.20	x
2008-12-31	CA$6.42	CA$63.20	x
2009-12-31	CA$7.33	CA$63.20	x
2010-12-31	CA$7.05	CA$63.20	x
2011-12-31	CA$5.72	CA$63.20	x
2012-12-31	CA$16.46	CA$63.20	x
2013-12-31	CA$16.77	CA$63.20	x
2014-12-31	CA$19.32	CA$63.20	x
2015-12-31	CA$21.33	CA$63.20	x
2016-12-31	CA$21.33	CA$63.20	x
2017-12-31	CA$31.92	CA$63.20	x
2018-12-31	CA$28.18	CA$63.20	x
2019-12-31	CA$32.51	CA$63.20	x
2020-12-31	CA$27.19	CA$63.20	x
2021-12-31	CA$25.96	CA$63.20	x
2022-12-31	CA$28.39	CA$63.20	x
2023-12-31	CA$28.70	CA$63.20	x
2024-12-31	CA$30.51	CA$63.20	x
2025-12-31	CA$28.82	CA$63.20	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Pembina Pipeline Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 10.10%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 22.05%
• Asset Turnover: 0.22x
• Equity Multiplier: 2.12x
Recent ROE (10.10%) is above the historical average (9.23%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1998	3.61%	17.75%	0.20x	1.02x	CA$-34.14 Million
1999	3.91%	19.07%	0.20x	1.03x	CA$-30.14 Million
2000	9.19%	38.54%	0.12x	1.95x	CA$-4.62 Million
2001	5.24%	21.01%	0.15x	1.69x	CA$-36.63 Million
2002	8.13%	26.52%	0.18x	1.71x	CA$-13.73 Million
2003	6.84%	26.08%	0.15x	1.70x	CA$-29.22 Million
2004	9.22%	21.71%	0.18x	2.36x	CA$-5.08 Million
2005	9.47%	24.24%	0.19x	2.10x	CA$-3.95 Million
2006	10.43%	26.47%	0.20x	1.97x	CA$3.64 Million
2007	15.66%	28.19%	0.26x	2.16x	CA$51.43 Million
2008	18.32%	23.97%	0.32x	2.40x	CA$73.47 Million
2009	14.35%	19.97%	0.31x	2.29x	CA$49.14 Million
2010	15.82%	14.88%	0.45x	2.38x	CA$68.68 Million
2011	17.23%	9.88%	0.50x	3.47x	CA$69.50 Million
2012	5.27%	6.57%	0.41x	1.94x	CA$-202.03 Million
2013	6.79%	7.01%	0.55x	1.77x	CA$-165.60 Million
2014	6.04%	6.31%	0.54x	1.78x	CA$-250.60 Million
2015	5.47%	8.76%	0.36x	1.74x	CA$-336.40 Million
2016	5.62%	10.93%	0.28x	1.81x	CA$-363.60 Million
2017	6.40%	16.35%	0.21x	1.85x	CA$-495.90 Million
2018	8.91%	17.39%	0.28x	1.86x	CA$-156.40 Million
2019	9.02%	20.84%	0.22x	1.98x	CA$-164.00 Million
2020	-2.11%	-5.31%	0.19x	2.10x	CA$-1.81 Billion
2021	8.68%	14.40%	0.27x	2.20x	CA$-188.30 Million
2022	18.89%	25.59%	0.37x	2.00x	CA$1.40 Billion
2023	11.23%	28.05%	0.19x	2.06x	CA$194.70 Million
2024	10.65%	25.24%	0.21x	2.05x	CA$113.00 Million
2025	10.10%	22.05%	0.22x	2.12x	CA$16.90 Million

Industry Comparison

This section compares Pembina Pipeline Corp's net assets metrics with peer companies in the Oil & Gas Midstream industry.

Industry Context

Industry: Oil & Gas Midstream
Average net assets among peers: $7,175,232,047
Average return on equity (ROE) among peers: 10.04%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Pembina Pipeline Corp (PPL)	CA$16.77 Billion	3.61%	1.12x	$26.58 Billion
AltaGas Ltd (ALA)	$3.57 Billion	3.64%	1.35x	$11.75 Billion
Enbridge Inc (ENB)	$13.76 Billion	5.20%	2.43x	$117.71 Billion
Gibson Energy Inc. (GEI)	$758.23 Million	19.92%	2.71x	$3.54 Billion
Keyera Corp. (KEY)	$2.78 Billion	15.26%	2.16x	$8.76 Billion
South Bow Corporation (SOBO)	$2.70 Billion	16.29%	3.13x	$7.13 Billion
Source Rock Royalties Ltd (SRR)	$27.44 Million	9.32%	0.05x	$32.97 Million
Topaz Energy Corp (TPZ)	$1.32 Billion	2.08%	0.26x	$3.48 Billion
TC Energy Corp (TRP)	$39.01 Billion	7.49%	2.21x	$68.30 Billion
Tidewater Midstream and Infrastructure Ltd (TWM)	$642.75 Million	11.12%	2.07x	$121.58 Million

About Pembina Pipeline Corp

TO:PPL Canada Oil & Gas Midstream

Market Cap

$26.58 Billion

CA$36.74 Billion CAD

Market Cap Rank

#985 Global

#41 in Canada

Share Price

CA$63.20

Change (1 day)

-0.05%

52-Week Range

CA$48.90 - CA$63.57

All Time High

CA$63.57