| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | — | — |
| Gross Profit | — | — |
| EBITDA | — | — |
| Net Income | — | — |
| Diluted EPS | — | — |
| Free Cash Flow | — | — |
Bars are the value as filed for every stored fiscal year (oldest → newest, the latest bar solid); a year the store has no value for is left EMPTY. Free cash flow is operating cash flow less capital expenditures for the same year — the only figure here computed from two lines, and a year missing either one is a gap. The 3y/5y/10y CAGRs are the analytics core’s own (positive-base only); no rate is recomputed on this strip, and no rate is shown for a series the core doesn’t publish one for. Diluted EPS is drawn on ONE share basis: as-filed per-share figures from before a split are stated on the old basis, so where the implied share count breaks (net income ÷ EPS, ±1.45× band — the same acceptance band the API’s own classifier uses) the earlier bars are left undrawn and any CAGR horizon reaching past the break is suppressed rather than shown as a rate across two different bases.
Every bar is a figure as filed. Anything a filed line doesn’t explain is drawn as a residual, never absorbed into a neighbouring step.
This filer skips: gross profit.
Reconciliation.
| Step | Applied | Running level | % of revenue | 2024 |
|---|---|---|---|---|
| Revenue · reported | CAD 20.51B | CAD 20.51B | 100.0% | CAD 20.39B |
| Cost of revenue | -CAD 2.40B | CAD 18.11B | −11.7% | CAD 2.50B |
| Other (residual) · residual | -CAD 15.74B | CAD 2.36B | −76.8% | — |
| Operating income · reported | CAD 2.36B | CAD 2.36B | 11.5% | CAD 2.80B |
| Interest expense | -CAD 1.21B | CAD 1.15B | −5.9% | CAD 1.61B |
| Other (residual) · residual | CAD 53.0M | CAD 1.20B | 0.3% | — |
| Pretax income · reported | CAD 1.20B | CAD 1.20B | 5.9% | CAD 1.23B |
| Income tax | -CAD 425.0M | CAD 777.0M | −2.1% | CAD 290.0M |
| Minority interest | -CAD 336.0M | CAD 441.0M | −1.6% | CAD 55.0M |
| Other (residual) · residual | CAD 672.0M | CAD 1.11B | 3.3% | — |
| Net income · reported | CAD 1.11B | CAD 1.11B | 5.4% | CAD 993.0M |
Filed cash-flow lines, summed over the years below.
The remainder is not free cash flow — it absorbs securities, debt movement, other financing and FX.
Partial legs understate: Dividends 2/10y, Buybacks 3/10y, Stock issued 2/10y.
| Fiscal year | Operating Cash Flow | Capex | Acquisitions | Dividends | Buybacks | Debt issued | Debt repaid |
|---|---|---|---|---|---|---|---|
| 2016 | CAD 3.22B | CAD 2.36B | — | — | CAD 179.0M | CAD 5.73B | CAD 4.84B |
| 2017 | CAD 3.95B | CAD 2.49B | — | — | — | CAD 6.37B | CAD 5.50B |
| 2018 | CAD 4.06B | CAD 2.38B | — | — | CAD 100.0M | CAD 5.50B | CAD 5.38B |
| 2019 | CAD 3.93B | CAD 2.77B | — | — | — | CAD 7.71B | CAD 5.26B |
| 2020 | CAD 4.57B | CAD 2.67B | — | — | — | CAD 4.88B | — |
| 2021 | CAD 4.39B | CAD 3.19B | — | — | — | CAD 4.89B | — |
| 2022 | CAD 4.81B | CAD 3.29B | — | — | — | CAD 10.27B | — |
| 2023 | CAD 4.50B | CAD 2.62B | — | — | — | CAD 9.22B | — |
| 2024 | CAD 4.85B | CAD 2.64B | — | CAD 1.56B | — | CAD 6.46B | — |
| 2025 | CAD 4.87B | CAD 2.73B | — | CAD 1.63B | CAD 40.0M | CAD 12.77B | — |
Blank = not reported that year.
| DPS (FY2025) | CAD 1.65 |
| Trailing yield | — |
| Payout ratio | 146.3% |
| Growth streak | 6 yrs |
| 5y DPS growth | 6.9% |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | CAD 1.65 | +6.2% | reported |
| FY20242024-12-31 | CAD 1.56 | +7.0% | reported |
| FY20232023-12-31 | CAD 1.45 | +7.3% | reported |
| FY20222022-12-31 | CAD 1.36 | +6.7% | reported |
| FY20212021-12-31 | CAD 1.27 | +7.3% | reported |
| FY20202020-12-31 | CAD 1.19 | +5.2% | reported |
| FY20192019-12-31 | CAD 1.13 | — | reported |
None of the three composites is computable for this filer — each needs two consecutive fiscal years of specific lines (COGS, PP&E, receivables), which many financials and asset-light names legitimately never tag. The trend below is what the store does serve.
| Quality trend | 2026 | Δ vs 2021 | Trend · 12y |
|---|---|---|---|
| Gross Margin | — | — | |
| Operating Margin | — | — | |
| Net Margin | — | — | |
| Return on Invested Capital | — | — | |
| Return on Equity | — | — |
Three scores, kept separate. They are not averaged into one “quality” number. They point in different directions (F is a 0–9 count, higher-better; Z is a distress distance, higher-safer; M is a manipulation screen, lower-cleaner) and were fitted on different samples for different questions — a blended figure would be ours, not theirs, and would hide exactly the disagreement that is worth reading.
Sector context. The percentile columns on the trend rows are the ones this payload serves: “vs own” ranks the latest value inside this company’s own served history, “vs sector” inside its sector pool. A blank sector cell means the pool was too thin to rank honestly (or the metric is a currency level, where a cross-currency rank would be meaningless). For this name the sector column is left out rather than filled with dashes. The three SCORES carry no sector percentile: the payload’s percentile block covers the served ratios only, so “is this Z good for Transportation & Utilities?” is a question we cannot answer from what is served, and we don’t pretend to.
Latest vintage only. A 12-year F-Score / Z-Score strip is not drawn. The point-in-time factor store carries valuation, returns, margin, momentum and growth factors — not these composites — and recomputing them here from the annual columns would produce a series that disagrees with the headline above (different vintage of facts, different restatement handling). A score that disagrees with itself is a wrong number, so the history is omitted rather than approximated.
The nine named F-Score checks, the Merton distance-to-default / default probability, ROIIC and the growth-durability CAGRs live on FS · Financial Strength; the full ratio grid — every served ratio, with its own trend and both percentiles — is the Ratios section below.
Drivers multiply to 7.2% vs reported ROE 7.1%.
| Line | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ | 2026↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CAD 12.80B | CAD 13.41B | CAD 14.37B | CAD 14.66B | CAD 15.46B | CAD 17.26B | CAD 18.41B | CAD 20.12B | CAD 20.39B | CAD 20.51B | — |
| YoY % | +4.8% | +7.2% | +2.0% | +5.5% | +11.6% | +6.7% | +9.3% | +1.3% | +0.6% | ||
| Cost of Revenue | CAD 1.84B | CAD 1.98B | CAD 2.10B | CAD 2.10B | CAD 2.00B | CAD 2.20B | CAD 2.30B | CAD 2.40B | CAD 2.50B | CAD 2.40B | — |
| YoY % | +7.3% | +6.3% | 0.0% | -4.8% | +10.0% | +4.5% | +4.3% | +4.2% | -4.0% | ||
| Total Operating Expenses | CAD 10.62B | CAD 10.67B | CAD 11.53B | CAD 11.68B | CAD 12.98B | CAD 14.18B | CAD 15.46B | CAD 17.75B | CAD 17.58B | CAD 18.14B | — |
| YoY % | +0.5% | +8.1% | +1.3% | +11.1% | +9.3% | +9.0% | +14.9% | -1.0% | +3.2% | ||
| Operating Income | CAD 2.18B | CAD 2.74B | CAD 2.84B | CAD 2.98B | CAD 2.48B | CAD 3.07B | CAD 2.95B | CAD 2.36B | CAD 2.80B | CAD 2.36B | — |
| YoY % | +25.6% | +3.5% | +4.9% | -16.6% | +23.9% | -3.9% | -20.0% | +18.7% | -15.7% | ||
| Interest Expense | CAD 523.0M | CAD 580.0M | CAD 670.0M | CAD 740.0M | CAD 778.0M | CAD 812.0M | CAD 649.0M | CAD 1.30B | CAD 1.61B | CAD 1.21B | — |
| YoY % | +10.9% | +15.5% | +10.4% | +5.1% | +4.4% | -20.1% | +99.7% | +24.2% | -24.5% | ||
| Interest & Investment Income | CAD 3.0M | CAD 7.0M | CAD 9.0M | CAD 7.0M | CAD 7.0M | CAD 16.0M | CAD 17.0M | CAD 23.0M | CAD 33.0M | CAD 53.0M | — |
| YoY % | +133.3% | +28.6% | -22.2% | 0.0% | +128.6% | +6.3% | +35.3% | +43.5% | +60.6% | ||
| Pretax Income | CAD 1.66B | CAD 2.17B | CAD 2.18B | CAD 2.24B | CAD 1.71B | CAD 2.28B | CAD 2.32B | CAD 1.09B | CAD 1.23B | CAD 1.20B | — |
| YoY % | +30.4% | +0.4% | +3.1% | -23.8% | +33.1% | +1.9% | -53.1% | +12.8% | -2.1% | ||
| Income Tax | CAD 426.0M | CAD 590.0M | CAD 552.0M | CAD 468.0M | CAD 451.0M | CAD 580.0M | CAD 604.0M | CAD 222.0M | CAD 290.0M | CAD 425.0M | — |
| YoY % | +38.5% | -6.4% | -15.2% | -3.6% | +28.6% | +4.1% | -63.2% | +30.6% | +46.6% | ||
| Net Income (incl. NCI) | CAD 1.24B | CAD 1.58B | CAD 1.62B | CAD 1.78B | CAD 1.26B | CAD 1.70B | CAD 1.72B | CAD 867.0M | CAD 938.0M | CAD 777.0M | — |
| YoY % | +27.7% | +2.9% | +9.4% | -29.1% | +34.8% | +1.2% | -49.5% | +8.2% | -17.2% | ||
| Minority Interest (P&L) | CAD 13.0M | CAD 19.0M | CAD 24.0M | CAD 30.0M | CAD 53.0M | CAD 43.0M | CAD 103.0M | CAD 26.0M | -CAD 55.0M | -CAD 336.0M | — |
| YoY % | +46.2% | +26.3% | +25.0% | +76.7% | -18.9% | +139.5% | -74.8% | ||||
| Net Income | CAD 1.22B | CAD 1.56B | CAD 1.60B | CAD 1.75B | CAD 1.21B | CAD 1.66B | CAD 1.61B | CAD 841.0M | CAD 993.0M | CAD 1.11B | — |
| YoY % | +27.5% | +2.6% | +9.1% | -30.9% | +37.1% | -2.4% | -47.9% | +18.1% | +12.1% | ||
| EPS (Basic) | CAD 2.06 | CAD 2.63 | CAD 2.68 | CAD 1.45 | CAD 0.95 | CAD 1.23 | CAD 1.16 | CAD 0.58 | CAD 0.67 | CAD 0.73 | — |
| YoY % | +27.7% | +1.9% | -45.9% | -34.5% | +29.5% | -5.7% | -50.0% | +15.5% | +9.0% | ||
| EPS (Diluted) | CAD 2.06 | CAD 2.63 | CAD 2.68 | CAD 1.45 | CAD 0.94 | CAD 1.22 | CAD 1.15 | CAD 0.58 | CAD 0.67 | CAD 0.72 | — |
| YoY % | +27.7% | +1.9% | -45.9% | -35.2% | +29.8% | -5.7% | -49.6% | +15.5% | +7.5% | ||
| Weighted Avg Shares (Basic) | 592.0M | 593.0M | 597.0M | 1.20B | 1.27B | 1.35B | 1.40B | 1.45B | 1.49B | 1.53B | — |
| YoY % | +0.2% | +0.7% | +101.7% | +5.9% | +5.6% | +3.7% | +3.9% | +2.5% | +2.9% | ||
| Weighted Avg Shares (Diluted) | 593.0M | 593.0M | 597.0M | 1.20B | 1.28B | 1.35B | 1.40B | 1.46B | 1.49B | 1.53B | — |
| YoY % | 0.0% | +0.7% | +101.7% | +6.1% | +5.7% | +3.8% | +3.8% | +2.5% | +2.8% | ||
| Dividends Declared per Share | CAD 2 | CAD 2 | CAD 2 | CAD 1 | CAD 1 | CAD 1 | CAD 1 | CAD 1 | CAD 2 | CAD 2 | CAD 0 |
| YoY % | +7.1% | +6.6% | -46.4% | +5.2% | +7.3% | +6.7% | +7.3% | +7.0% | +6.2% | -74.7% |
Sector is SIC-based, not GICS. A blank cell means the figure wasn't filed.
