Brookfield Infrastructure Partners LP (BIP) financial statements
Brookfield Infrastructure Partners LP reported revenue of $23.1B in fiscal 2025, up 30.4% a year over 9 years.
Net income was $2.5B and the operating margin 25.1%, against 20.8% in 2016.
Free cash flow was -$53M, and the company returned $1.7B in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Brookfield Infrastructure Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B | $3.5B | $4.7B | $6.6B | $8.9B | $11.5B | $14.4B | $17.9B | $21.0B | $23.1B |
| Cost of revenue | $1.1B | $1.5B | $2.2B | $4.6B | $6.5B | $8.2B | $10.5B | $13.5B | $15.7B | $16.9B |
| Gross profit | $1.1B | $2.0B | $2.4B | $2.0B | $2.3B | $3.3B | $3.9B | $4.5B | $5.4B | $6.2B |
| Selling, general and admin | $166M | $239M | $223M | $279M | $312M | $406M | $433M | $413M | $405M | $426M |
| Operating income | $439M | $1.1B | $1.4B | $1.7B | $2.0B | $2.9B | $3.5B | $4.0B | $5.0B | $5.8B |
| Interest expense | $392M | $428M | $555M | $904M | $1.2B | $1.5B | $1.9B | $2.5B | $3.4B | $3.9B |
| Pre-tax income | $543M | $747M | $1.2B | $928M | $1.2B | $3.3B | $1.9B | $2.0B | $2.0B | $3.1B |
| Income tax | $15M | $173M | $364M | $278M | $291M | $614M | $560M | $581M | $270M | $589M |
| Net income | $528M | $574M | $806M | $650M | $904M | $2.7B | $1.4B | $1.4B | $1.7B | $2.5B |
| EPS (diluted) | — | — | — | $0.06 | $0.23 | $1.16 | $0.14 | $0.14 | $0.04 | $0.90 |
| Gross margin | 49.7% | 57.3% | 52.5% | 30.1% | 26.3% | 28.5% | 27.2% | 24.9% | 25.5% | 26.9% |
| Operating margin | 20.8% | 31.6% | 30.5% | 25.9% | 22.8% | 25.0% | 24.1% | 22.6% | 23.6% | 25.1% |
| Net margin | 25.0% | 16.2% | 17.3% | 9.9% | 10.2% | 23.6% | 9.5% | 8.1% | 8.0% | 11.0% |
Balance sheet
Fiscal years, from Brookfield Infrastructure Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $786M | $374M | $540M | $827M | $867M | $1.4B | $1.3B | $1.9B | $2.1B | $3.2B |
| Receivables | $504M | $838M | $1.2B | $2.0B | $1.9B | $2.2B | $2.6B | $4.7B | $4.5B | $5.3B |
| Inventory | $101M | $108M | $141M | $242M | $221M | $400M | $531M | $512M | $454M | $583M |
| Total current assets | $1.6B | $1.5B | $2.3B | $5.8B | $3.7B | $4.9B | $6.7B | $8.0B | $9.6B | $12.0B |
| Property, plant and equipment | $8.7B | $9.9B | $12.8B | $23.0B | $31.6B | $38.7B | $37.3B | $48.5B | $50.8B | $66.8B |
| Goodwill | $502M | $1.3B | $3.9B | $6.6B | $6.6B | $9.0B | $8.8B | $14.5B | $14.1B | $19.2B |
| Total assets | $21.3B | $29.5B | $36.6B | $56.3B | $61.3B | $74.0B | $73.0B | $100.8B | $104.6B | $128.2B |
| Total current liabilities | $1.5B | $1.6B | $2.4B | $5.4B | $5.5B | $8.7B | $8.4B | $11.7B | $10.9B | $15.3B |
| Total liabilities | $11.6B | $16.0B | $21.9B | $34.1B | $39.7B | $47.6B | $47.4B | $66.8B | $74.7B | $92.6B |
| Shareholders' equity | $9.6B | $13.5B | $14.7B | $22.2B | $21.7B | $26.4B | $25.6B | $34.0B | $29.9B | $35.5B |
| Net debt | -$786M | -$374M | -$540M | -$827M | -$867M | -$1.4B | -$1.3B | -$1.9B | -$2.1B | -$3.2B |
Cash flow
Fiscal years, from Brookfield Infrastructure Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $753M | $1.5B | $1.4B | $2.1B | $2.5B | $2.8B | $3.1B | $4.1B | $4.7B | $6.0B |
| Capital spending | $690M | $714M | $839M | $1.2B | $1.5B | $2.1B | $2.8B | $2.5B | $5.0B | $6.0B |
| Free cash flow | $63M | $767M | $523M | $961M | $1.1B | $705M | $356M | $1.6B | -$322M | -$53M |
| Dividends paid | $615M | $764M | $878M | $978M | $1.1B | $1.2B | $1.4B | $1.5B | $1.6B | $1.7B |
| Share buybacks (net) | -$6M | $0 | -$30M | — | — | — | — | — | — | — |
| Net borrowing | $0 | $231M | $283M | $88M | $318M | $244M | $995M | $513M | -$83M | $678M |
| Free cash flow margin | 3.0% | 21.7% | 11.2% | 14.6% | 11.9% | 6.1% | 2.5% | 8.9% | -1.5% | -0.2% |
Questions
What was Brookfield Infrastructure Partners LP's revenue in 2025?
$23.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does Brookfield Infrastructure Partners LP generate?
-$53M in fiscal 2025 (operating cash flow minus capital spending).
From Brookfield Infrastructure Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.