BIPCNYSENatural Gas Transmisison & DistributionUS GAAP · USD

Brookfield Infrastructure Corp

Brookfield Infrastructure Corp is a U.S.-listed infrastructure holding company that owns and operates long-life assets across utilities, transport, midstream, and data infrastructure. Its portfolio spans the Americas, Asia Pacific, and Europe, and includes regulated, contracted, and other essential infrastructure businesses held through Brookfield’s global platform.

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Revenue3,668m USD
+0.1 %y/y
Operating profit (EBIT)2,240m USD
+49.1 %y/y
EBIT margin61.1%
+20.1 ppy/y
Net income-241m USD
+60.4 %y/y
Free cash flow1,608m USD
−7.7 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

01,0002,0003,0004,000m USD2022: 1,886 m USD2022: EBIT 2,425 m USD20222023: 2,503 m USD2023: EBIT 1,671 m USD20232024: 3,666 m USD2024: EBIT 1,502 m USD20242025: 3,668 m USD2025: EBIT 2,240 m USD20253,6682,240
RevenueOperating profit (EBIT)
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Business

Share of revenue
Utilities35 %

Regulated utility and contracted infrastructure assets that provide essential services.

Transport20 %

Transport infrastructure assets used to move people, goods, or commodities.

Midstream25 %

Energy infrastructure assets such as pipelines and related network assets.

Data infrastructure20 %

Assets supporting digital connectivity, storage, and related infrastructure services.

Customers

Brookfield Infrastructure serves utilities users, industrial and commercial counterparties, and public-sector or regulated customers depending on the asset. In midstream and transport, customers are typically shippers, operators, and users of essential network capacity, while data assets serve digital infrastructure tenants and counterparties. The business is built around long-duration assets whose cash flows are often supported by regulation, contracts, or network-critical demand.

Regulated utility customers

Households, businesses, or regulated counterparties served by utility networks and distribution assets.

Commercial and industrial shippers

Customers that buy transmission, pipeline, or network capacity for energy movement.

Transport users and concession counterparties

Parties that pay for access to transport infrastructure or use concessioned assets.

Data infrastructure tenants

Customers using digital infrastructure assets for connectivity, storage, or related services.

Strategy

Brookfield Infrastructure’s strategy is to own essential infrastructure assets with contracted, regulated, or network-based cash flows that can support long-duration value creation. The company emphasizes portfolio quality, operational stability, and the ability to allocate capital across utilities, transport, midstream, and data businesses on a global basis. It also uses the broader Brookfield platform to source assets, manage them actively, and recycle capital where appropriate.

Acquire and own essential infrastructure assetsMedium term

High-quality assets with durable demand support predictable cash flows.

Maintain a balanced global portfolioMedium term

Geographic and sector diversification reduces dependence on any one market.

Preserve regulated and contracted revenue exposureLong term

Stable pricing and volume structures make the business model more resilient.

Geography

The company operates across the Americas, Asia Pacific, and Europe, so its asset base is diversified across multiple regulatory and economic environments. Geography matters because utility, transport, and midstream assets are often local or regional monopolies with country-specific rules, tariff structures, and political risk. The portfolio’s spread also reduces dependence on any single market, but it exposes the company to cross-border regulatory, currency, and asset valuation differences.

Risks

The main risks come from regulation, valuation, and operating exposure across essential infrastructure assets. Because the portfolio is spread across multiple countries and asset classes, changes in tariffs, permitting, currency, interest rates, or local political conditions can affect asset values and cash generation. The company also faces typical infrastructure risks such as asset performance, capital intensity, and sensitivity to fair-value assumptions.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Regulatory and tariff risk1Fair value and impairment risk2Interest rate and market volatility3Geographic and political exposure4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Regulatory and tariff riskImpact: HighLikelihood: Medium

    Utility and network assets depend on approved pricing and regulatory frameworks.

    Exposure: Utilities and transmission assets

  2. Fair value and impairment riskImpact: HighLikelihood: Medium

    Management values property, plant and equipment using income-based assumptions.

    ExposurePropertyPlantEquipmentCGU valuations
  3. Interest rate and market volatilityImpact: MediumLikelihood: High

    Infrastructure valuations are sensitive to discount rates and market sentiment.

    Exposure: Asset values and financing conditions

  4. Geographic and political exposureImpact: MediumLikelihood: Medium

    Assets are spread across the Americas, Asia Pacific, and Europe with local rules.

    Exposure: Cross-border operations

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Accounting

Judgemental items
Fair value of property, plant and equipment

Assets are revalued regularly using income-based assumptions.

Impact: Can materially change reported asset values and equity

Goodwill and intangible impairment

Cash-generating unit recoverability depends on assumptions and forecasts.

Impact: Can create significant non-cash charges

Investments in associates

Recoverable amount assessments require judgment and valuation inputs.

Impact: Can affect carrying values and earnings

IFRS interim reporting

Quarterly reporting relies on estimates that may later be revised.

Impact: Can increase period-to-period volatility

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Last updated: 28/09/2026