Enbridge Inc (ENB) is overvalued and Williams Cos Inc (WMB) is overvalued.
Both trade above our estimate of their intrinsic value. ENB is the closer of the two: -89%, against -182% for WMB.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $25.31; the price of $47.90 is 89% above that value, and 83% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 7.9% (average of 2 methods) values the shares at $25.17; the price of $70.98 is 182% above that value, and 80% of that value comes from beyond year five.
Leak Score 38/100 on 10 of 12 signals
| Metric | ENB | WMB |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $47.90 | $70.98 |
| Intrinsic value | $25.31 | $25.17 |
| Margin of safety | -89% | -182% |
| Leak Score | 0/100 (2/12) | 38/100 (10/12) |
| Market cap | $106.5B | $86.8B |
| Revenue growth, 5 years | 10.0% | 8.9% |
| Operating margin | 13.3% | 38.0% |
| Net margin | 6.8% | 24.9% |
| Return on equity | 9.4% | 24.0% |
| Debt to equity | 1.72 | 2.33 |
| P/E | 25.4x | 28.3x |
| Forward P/E | 20.6x | 27.6x |
| P/B | 2.5x | 6.6x |
| Dividend yield | 5.8% | 3.0% |