Brookfield Infrastructure Corporation (BIPC): A Bull Case Theory 

We came across a bullish thesis on Brookfield Infrastructure Corporation on Beat the TSX (BTSX-20)’s Substack by Beat the TSX-27 Strategy. In this article, we will summarize the bulls’ thesis on BIPC. Brookfield Infrastructure Corporation’s share was trading at $44.93 as of December 1st. BIPC’s trailing P/E was 4.25 according to Yahoo Finance.

Brookfield Infrastructure Corporation (BIPC, BIP.UN) offers investors a rare combination of income stability, structural growth, and defensive resilience, making it a compelling long-term opportunity. Far more than a traditional utility, BIPC owns and operates essential global assets across utilities, transport, midstream energy, and data infrastructure, critical systems that underpin modern economies and provide reliable cash flows through all market conditions. Its resilience was proven during the pandemic, when operations and dividends remained intact despite market turmoil.

With inflation-linked contracts, BIPC’s revenues naturally rise with prices, while lower interest rates further strengthen profitability. Over the past decade, the company has executed an impressive expansion, growing revenues from $1.86 billion in 2015 to $21.54 billion by mid-2025, and operating income from $0.55 billion to $5.27 billion. Consistent reinvestment—$0.52 billion in 2015 to $4.30 billion today—has sustained its disciplined, high-return growth model. This foundation supports dependable 5–6% annual dividend growth, roughly double inflation, driven by organic growth of 6–9% and strategic capital recycling that continuously upgrades its asset base.

Importantly, BIPC is also an indirect yet powerful beneficiary of the AI revolution, as its data centers and fiber networks form the physical backbone enabling AI computation and connectivity worldwide. As AI demand accelerates, this infrastructure’s strategic value will only grow. Despite performance fees paid to its parent, BIPC remains an attractive GARP and “sleep well at night” investment. It combines the steady, inflation-protected cash flows of a utility with the secular growth and innovation-driven upside of a global infrastructure leader.

Previously, we covered a bullish thesis on Kinder Morgan, Inc. (KMI) by Gregg Jahnke in October 2024, which highlighted the company’s growing project backlog and exposure to industrial and AI-driven infrastructure demand. The stock has appreciated by 5.56% since our coverage as the thesis modestly played out. The thesis still stands as industrial investment remains solid. Beat the TSX-27 Strategy shares a similar view but emphasizes BIPC’s diversified global infrastructure and inflation-linked growth.

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Disclosure: None.