AI-extracted from the 20-F filed 2026-03-17 — FY2025 (year ended December 31, 2025). Every figure is machine-verified against the filing text on SEC EDGAR.
BIPC reported net income of $700M in FY2025 ($241M attributable to partnership) versus $72M in FY2024, driven by inflation-indexation gains at Brazilian gas transmission and U.K. distribution operations, partially offset by $441M remeasurement losses on exchangeable shares classified as liabilities.
Biggest Revenue Drivers
Brazil Regulated Gas TransmissionNot separately disclosed+$132M underlying revenue from inflation
Inflation-indexation and higher volumes drove gas transmission revenues
U.K. Regulated DistributionNot separately disclosed+$96M from higher volumes and inflation-
Capital commissioned into rate base and additional connections increased distribution revenues
Biggest Revenue Drivers
Total revenue: $3,668M+0.1% YoY
Brazil Regulated Gas TransmissionNot separately disclosed+$132M underlying revenue from inflation
Inflation-indexation and higher volumes drove gas transmission revenues
U.K. Regulated DistributionNot separately disclosed+$96M from higher volumes and inflation-
Capital commissioned into rate base and additional connections increased distribution revenues
Global Intermodal LogisticsReduced by $194M YoY-$194M from partial dispositions
Partial dispositions of stabilized container assets decreased revenues
Largest Expense Items
Direct Operating Costs$1,334M-$44M YoY
Lower depreciation from partial dispositions offset by inflation and incremental capex depreciation
Interest Expense$1,155M+$90M YoY
Increase in variable rate non-recourse borrowings at Brazil and higher exchangeable share dividends
Income Tax Expense$385M+$20M YoY
Growth across base businesses increased tax expense
Remeasurement of Shares Classified as Financial Liability$441M loss-$36M vs. $477M loss in 2024
Reflects decrease in partnership unit market price based on NYSE closing price
Margins: Gross operating margins remained stable with direct operating costs declining $44M despite inflation and organic growth, primarily due to lower depreciation from asset dispositions. Operating leverage improved as revenues held flat while costs decreased, though remeasurement losses on exchangeable shares classified as liabilities significantly impacted net income reported to the partnership.
Watch Items from the Filing
Remeasurement losses of $441M on exchangeable shares classified as financial liabilities represent material volatility tied to partnership unit price fluctuations; shareholders have no direct control over these non-cash charges.
Global intermodal logistics operation disposed of 66% interest in stabilized container portfolio; ongoing partial dispositions may continue to reduce revenues and diversify platform, impacting future growth trajectory.
Brookfield Infrastructure controls 75% voting interest through class B shares and holds 9.9% economic interest in exchangeable shares; investors face significant conflicts of interest and limited influence over capital allocation and M&A decisions.
Master Services Agreement base management fee of $71M annually (1.25% of combined market value) creates ongoing incentive alignment with parent, but termination rights are limited and subordinated to independent director approval.
Non-recourse borrowings of $13.2B carry exposure to interest rate risk; $1.3B due in 2026 with weighted average rate environment subject to SOFR-based pricing on variable-rate Brazilian gas transmission debt.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About Brookfield Infrastructure Corp (BIPC): stock profile, AI score and financials
Brookfield Infrastructure Corp (BIPC) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro's AI-powered ranking engine scores BIPC at 72.7/100 on a composite quality score built from its SEC filings, placing it at rank #139 of 2,925 stocks — the top 5% of the AI-ranked universe. BIPC scores in the top quartile across free cash flow (95.8), institutional flow (79.5). Based on the latest XBRL financial filings (FY 2025), Brookfield Infrastructure Corp reports quarterly revenue of $3.7B, net income of $-241.0M, an operating margin of 61.5%. Top institutional holders of BIPC by reported 13-F value include BlackRock, BANK OF MONTREAL, ROYAL BANK OF CANADA, based on the most recent SEC filings. BIPC trades on the NYSE exchange and files with the SEC under CIK 1788348. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BIPC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Brookfield Infrastructure Corp directly from SEC EDGAR.