Canadian Pacific Kansas City Ltd. (CP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.24	$1.27	+2.4%	—	$4.2B	—
Q1 26	$1.07	$1.04	-2.8%	—	$3.7B	—
Q3 25	$1.11	$1.1	-0.9%	—	$3.7B	—
Q2 25	$1.13	$1.12	-0.9%	—	$3.7B	—
Q1 25	$1.05	$1.06	+1.0%	—	$3.8B	—
Q4 24	$1.24	$1.29	+4.0%	—	$2.8B	—
Q3 24	$1.01	$0.99	-2.0%	—	$2.5B	—
Q2 24	$1	$1.05	+5.0%	—	$3.6B	—
Q1 24	$0.94	$0.93	-1.1%	—	$2.6B	—
Q4 23	$1.12	$1.18	+5.4%	—	$3.8B	—
Q3 23	$0.91	$0.92	+1.1%	—	$3.3B	—
Q2 23	$0.95	$0.83	-12.6%	—	$3.2B	—
Q1 23	$0.93	$0.9	-3.2%	—	$2.3B	—
Q4 22	$1.06	$1.1	+3.8%	—	$2.5B	—
Q3 22	$1.01	$1.01	0.0%	—	$2.3B	—
Q2 22	$0.94	$0.95	+1.1%	—	$2.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.52	—	—	$15.1B	—
FY24	—	$3.98	—	—	$10.7B	—
FY23	—	$4.22	—	—	$12.6B	—
FY22	—	$3.78	—	—	$8.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$6.2B	$6.6B	$7.3B	$7.8B	$7.7B	$8B	$8.8B	$12.6B	$10.7B	$15.1B
YoY change	-7.15%	+5.17%	+11.6%	+6.51%	-1.05%	+3.7%	+10.2%	+42.4%	-14.9%	+41.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	6.2B	6.6B	7.3B	7.8B	7.7B	8B	8.8B	12.6B	10.7B	15.1B
Cost of revenue	2.9B	3B	3.4B	3.5B	3.3B	3.6B	4.2B	6.2B	6.9B	9.5B
Gross profit	3.3B	3.6B	3.9B	4.3B	4.4B	4.4B	4.6B	6.4B	3.8B	5.6B
Gross margin	53.2%	54.5%	53.3%	55.4%	56.6%	55.3%	52.1%	50.8%	35.6%	37.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	509M	517M	532M	556M	553M	553M	—	—	—	—
Operating expenses	1.4B	1.5B	1.5B	1.6B	1.6B	1.8B	1.2B	1.9B	—	—
Operating income	2.3B	2.5B	2.8B	3.1B	3.3B	3.2B	3.3B	4.4B	3.8B	5.6B
Operating margin	37%	38.2%	38.1%	39.8%	42.9%	40.1%	37.5%	34.9%	35.6%	37.2%
Non-operating income, net	318M	467M	251M	491M	349M	854M	1.5B	-6.7B	289.4M	749M
Pretax income	2.2B	2.5B	2.6B	3.1B	3.2B	3.6B	4.1B	-3.1B	3.5B	5.5B
Income tax	553M	93M	637M	706M	758M	768M	628M	-7B	777.9M	1.3B
Net income	1.6B	2.4B	2B	2.4B	2.4B	2.9B	3.5B	3.9B	2.7B	4.1B
Net margin	25.7%	36.7%	26.7%	31.3%	31.7%	35.7%	39.9%	31.2%	25.5%	27.4%
EBITDA	3.1B	3.4B	3.9B	4.2B	4.4B	4.3B	5.6B	6.5B	5.5B	8B
EPS	2.14	3.3	2.73	3.52	3.61	4.2	3.78	4.22	3.98	4.52
Diluted EPS	2.13	3.29	2.72	3.5	3.59	4.18	3.77	4.21	3.98	4.51

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.3B	3.8B	2.6B	3.6B	2.5B	2.8B	3.8B	3.7B	3.7B	3.9B	3.7B	4.2B
Cost of revenue	1.7B	1.8B	1.7B	2.3B	1.7B	1.7B	2.5B	2.4B	2.3B	2.3B	2.4B	2.7B
Gross profit	1.7B	2B	833.2M	1.3B	857M	1.1B	1.3B	1.3B	1.3B	1.6B	1.3B	1.5B
Gross margin	50.3%	52.8%	32.6%	35.2%	33.9%	40.3%	34.7%	36.3%	36.5%	41.1%	34%	35.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	-85M	—	-63.8M	-88M	—	—	—	—	—	—	—	—
Operating expenses	421M	519M	356.8M	518M	443.8M	—	—	—	—	—	—	—
Operating income	1.2B	1.4B	833.2M	1.3B	857M	1.1B	1.3B	1.3B	1.3B	1.6B	1.3B	1.5B
Operating margin	35.1%	38.1%	32.6%	35.2%	33.9%	40.3%	34.7%	36.3%	36.5%	41.1%	34%	35.4%
Non-operating income, net	72M	59M	65.3M	128M	62.7M	64.6M	100M	456M	99M	94M	90M	124M
Pretax income	1B	1.3B	749.1M	1.2B	782.9M	1.1B	1.2B	1.6B	1.2B	1.5B	1.1B	1.4B
Income tax	258M	275M	187.8M	292M	186.6M	180.7M	292M	357M	296M	400M	275M	335M
Net income	780M	1B	561.3M	903M	596.3M	880.8M	909M	1.2B	917M	1.1B	845M	1B
Net margin	23.4%	27%	22%	25.1%	23.6%	30.9%	24%	33.4%	25%	27.5%	22.8%	24.6%
EBITDA	1.7B	2B	1.2B	1.9B	1.3B	1.6B	1.9B	2B	1.9B	2.2B	1.9B	2.1B
EPS	0.84	1.1	0.83	0.97	0.9	1.29	0.98	1.34	1.01	1.2	0.94	1.16
Diluted EPS	0.84	1.1	0.83	0.97	0.9	1.28	0.97	1.33	1.01	1.2	0.94	1.15

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	31B	38.7B	36.9B	51.4B	68.3B	71B	—	105.6B	—	—	76.1B
Enterprise value	39.6B	46.6B	45.5B	60.4B	78.2B	91.4B	—	128B	—	—	72.2B
Shares outstanding	1.1B	1.1B	1B	1B	984.4M	987.6M	1.4B	1.3B	685.4M	916.2M	916.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.4	16.1	18.9	21.1	27.9	24.9	—	26.9	—	—	28.6
P/S	4.98	5.91	5.04	6.6	8.85	8.89	—	8.41	—	—	4.95
P/B	6.71	6.02	5.56	7.27	9.33	2.1	—	2.49	—	—	2.3
EV/EBITDA	12.8	13.6	11.8	14.4	17.7	21.4	—	19.8	—	—	12.4
EV/Sales	6.35	7.1	6.22	7.75	10.1	11.4	—	10.2	—	—	6.61
Earnings yield	5.15%	6.21%	5.29%	4.75%	3.58%	4.01%	—	3.71%	—	—	3.5%
FCF yield	2.92%	2.17%	3.15%	2.61%	1.66%	3.03%	—	1.55%	—	—	2.03%
PEG	—	—	—	—	—	—	—	—	—	—	-2.13

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	53.2%	54.5%	53.3%	55.4%	56.6%	55.3%	52.1%	50.8%	35.6%	37.2%	35.4%
Operating margin	37%	38.2%	38.1%	39.8%	42.9%	40.1%	37.5%	34.9%	35.6%	37.2%	39%
Net margin	25.7%	36.7%	26.7%	31.3%	31.7%	35.7%	39.9%	31.2%	25.5%	27.4%	25%
ROE	34.6%	37.4%	29.4%	34.5%	33.4%	8.43%	9.04%	9.25%	7.59%	8.84%	8.15%
ROA	8.32%	11.9%	9.18%	10.9%	10.3%	4.18%	4.79%	4.91%	4.23%	4.81%	4.44%
ROIC	13%	16.9%	13.8%	15%	14.6%	4.66%	4.81%	6.77%	5.66%	6.03%	5.86%
Return on tangible assets	8.5%	12.2%	9.36%	11.1%	10.7%	4.23%	4.84%	11.2%	9.53%	10.4%	8.56%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.75	0.64	0.57	0.53	0.5	0.43	0.59	0.53	0.6	0.49	0.59
Quick ratio	0.61	0.57	0.48	0.45	0.42	0.35	0.5	0.46	0.52	0.41	0.5
Debt / equity	1.88	1.27	1.31	1.29	1.38	0.6	0.51	0.54	0.47	0.5	0.53
Debt / assets	0.45	0.41	0.41	0.41	0.43	0.3	0.27	0.29	0.26	0.27	0.28
Net debt / EBITDA	2.75	2.28	2.23	2.14	2.25	4.77	3.46	3.46	2.99	2.92	3.05
Interest coverage	5.56	6.26	6.69	7.93	7.99	9.23	7.36	-2.96	6.96	7.26	6.64
Effective tax rate	25.7%	3.72%	24.6%	22.4%	23.7%	21.2%	15.2%	0%	22.2%	24.5%	25.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.73	6.18	7.05	7.73	7.83	8.1	6.52	9.4	15.6	16.5	17.2
EPS (basic)	2.14	3.3	2.73	3.52	3.61	4.2	3.78	4.22	3.98	4.52	4.52
EPS (diluted)	2.13	3.29	2.72	3.5	3.59	4.18	3.77	4.21	3.98	4.51	3.04
Book value per share	4.26	6.07	6.39	7.01	7.43	34.3	28.8	31.7	52.4	51.1	37.8
FCF per share	0.83	0.79	1.12	1.33	1.15	2.18	1.91	1.23	2.58	2.37	2.71
Cash per share	0.15	0.32	0.06	0.13	0.15	0.07	0.33	0.35	0.79	0.2	0.42
Capex per share	0.98	1.22	1.42	1.61	1.68	1.45	1.11	1.83	3	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	17.1%	19.8%	20.1%	20.8%	21.4%	18%	17%	19.5%	19.2%	—	—
Capex / operating cash flow	44.4%	49.3%	54.3%	46.8%	48.9%	36.7%	35.3%	-89.6%	52%	—	—
Payout ratio	15.9%	12.9%	17.8%	16.9%	19.1%	17.8%	20.1%	18%	19.1%	19.2%	22.1%
Dividend yield	0.82%	0.8%	0.94%	0.8%	0.68%	0.71%	—	0.67%	—	—	0.88%

Yield

0.88%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.19

ex-dividend Sep 25, 2026

Payout ratio

22%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 25, 2026	$0.19
Jun 26, 2026	$0.189
Mar 27, 2026	$0.165

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.3B	$3.8B	$2.6B	$3.6B	$2.5B	$2.8B	$3.8B	$3.7B	$3.7B	$3.9B	$3.7B	$4.2B
YoY change	+44.4%	+53.4%	+12.7%	+13.5%	-24.3%	-24.6%	+48.7%	+2.66%	+44.8%	+37.9%	-2.48%	+12.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	164M	338M	61M	133M	147M	69M	451M	464M	542.9M	184M
Receivables	591M	687M	815M	805M	825M	819M	1B	1.9B	1.4B	2B
Inventory	184M	152M	173M	182M	208M	235M	284M	400M	335.7M	502M
Total current assets	1B	1.3B	1.1B	1.2B	1.3B	1.4B	1.9B	3B	2.5B	2.9B
Property, plant & equipment	35.1B	35.9B	38.8B	40.6B	15.1B	16.3B	16.5B	40.5B	32.2B	42.8B
Goodwill & intangibles	404M	374M	404M	412M	732M	742M	772M	44.9B	35.8B	46.2B
Total assets	19.2B	20.1B	21.3B	22.4B	23.6B	68.2B	73.5B	79.9B	64.5B	85.9B
Accounts payable	352M	402M	474M	453M	401M	432M	503M	680M	564.2M	682M
Short-term debt	25M	746M	506M	668M	1.2B	1.6B	1.6B	3.2B	2.2B	3.4B
Total current liabilities	1.3B	2B	2B	2.3B	2.7B	3.2B	3.2B	5.7B	4.2B	6B
Long-term debt	8.7B	7.4B	8.2B	8.4B	8.8B	18.8B	18.3B	19.6B	14.7B	20.2B
Total liabilities	14.6B	13.7B	14.6B	15.3B	16.3B	34.3B	34.6B	37.5B	28.5B	39.1B
Shareholders' equity	4.6B	6.4B	6.6B	7.1B	7.3B	33.8B	38.9B	42.4B	35.9B	46.8B
Total debt	8.7B	8.2B	8.7B	9.1B	10.1B	20.4B	19.9B	22.8B	16.9B	23.6B
Net debt	8.5B	7.8B	8.6B	9B	9.9B	20.3B	19.5B	22.4B	16.3B	23.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	567M	464M	376.4M	557M	329.8M	542.9M	695M	799M	411M	184M	409M	366M
Receivables	1.9B	1.9B	1.4B	1.9B	1.4B	1.4B	2B	2B	2.1B	2B	2.2B	2.3B
Inventory	398M	400M	289.4M	421M	289.9M	335.7M	466M	455M	485M	502M	534M	542M
Total current assets	3.1B	3B	2.3B	3.2B	2.2B	2.5B	3.5B	3.5B	3.3B	2.9B	3.4B	3.5B
Property, plant & equipment	52.3B	40.5B	38.2B	53.5B	37.9B	32.2B	—	—	—	42.8B	—	—
Goodwill & intangibles	42.4B	44.9B	30.8B	42.9B	30.1B	35.8B	44.9B	42.6B	43.4B	46.2B	43.4B	44.2B
Total assets	81B	79.9B	59.2B	82.8B	58.6B	64.5B	88B	85.2B	86.7B	85.9B	87.7B	89.3B
Accounts payable	—	680M	—	—	—	564.2M	—	—	—	682M	—	—
Short-term debt	1.8B	3.2B	2.8B	3.7B	2.3B	2.2B	1.5B	1B	2.3B	3.4B	2.4B	2.9B
Total current liabilities	4.4B	5.7B	4.7B	6.3B	4.1B	4.2B	4.2B	3.8B	5.2B	6B	5.1B	5.8B
Long-term debt	21.8B	19.6B	13.7B	19B	13.3B	14.7B	21.1B	21.2B	21.6B	20.2B	21.9B	22.2B
Total liabilities	38.7B	37.5B	27.5B	38B	26.5B	28.5B	38.8B	38B	40B	39.1B	40.3B	41.7B
Shareholders' equity	42.3B	42.4B	31.7B	44.8B	32.1B	35.9B	49.2B	47.1B	46.7B	46.8B	47.4B	47.6B
Total debt	23.5B	22.8B	16.5B	22.6B	15.6B	16.9B	22.7B	22.3B	23.9B	23.6B	24.3B	25.1B
Net debt	23.3B	22.4B	16.1B	22.1B	15.3B	16.3B	22B	21.5B	23.5B	23.4B	23.9B	24.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.6B	2.4B	2B	2.4B	2.4B	2.9B	3.5B	3.9B	2.7B	4.1B
Depreciation & amortization	640M	661M	696M	706M	779M	811M	853M	1.5B	1.4B	2B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	40M	-108M	-88M	-5M	-81M	42M	-187M	-365M	-130.8M	75M
Operating cash flow	2.4B	2.6B	2.7B	3.5B	3.4B	3.9B	4.3B	-2.7B	4B	5.3B
Capital expenditure	-1.1B	-1.3B	-1.5B	-1.6B	-1.6B	-1.4B	-1.5B	-2.4B	-2.1B	—
Investing cash flow	-1.1B	-1.3B	-1.5B	-1.8B	-2B	-13.7B	-1.5B	-2.2B	-2.1B	417M
Dividends paid	-255M	-310M	-348M	-412M	-467M	-507M	-707M	-707M	-520.8M	-796M
Share repurchases	-1.2B	-381M	-1.1B	-1.1B	-1.5B	0	0	—	—	-3.9B
Financing cash flow	-1.5B	-700M	-1.5B	-1.1B	-764M	9.9B	-2.3B	-2B	-1.7B	-3.4B
Net change in cash	-169M	640M	-288M	551M	580M	117M	459M	-6.8B	246.8M	2.3B
Free cash flow	907M	842M	1.2B	1.3B	1.1B	2.2B	2.6B	1.6B	1.8B	2.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	780M	1B	561.3M	903M	596.3M	880.8M	909M	1.2B	917M	1.1B	845M	1B
Depreciation & amortization	451M	457M	338.7M	473M	336.2M	358.5M	504M	493M	503M	519M	512M	519M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	1.2B	1.6B	865.9M	1.3B	978.1M	1.2B	1.4B	1.8B	1.3B	1.5B	976M	1.7B
Capital expenditure	-740M	-676M	-384.4M	-815M	-532.9M	-518.6M	-712M	-751M	—	—	—	—
Investing cash flow	-742M	-675M	-393.1M	-782M	-541.4M	-523M	-715M	-306M	-16M	-9M	-11M	0
Dividends paid	-177M	-177M	-128.4M	-178M	-126.1M	-130M	-177M	-210M	-205M	-204M	-204M	-204M
Share repurchases	—	—	—	—	—	—	-347M	-1.4B	-1.8B	-397M	-680M	-1.3B
Financing cash flow	-324M	-753M	-461.2M	-464M	-424.6M	-560.5M	-1.2B	-1.6B	-782M	-980M	-575M	-1B
Net change in cash	179M	155M	11.6M	79M	12.1M	143.2M	-509M	-155M	476M	535M	390M	695M
Free cash flow	275M	631M	351M	454M	366.9M	700.1M	433M	600M	407M	729M	307M	960M

Date	Ratio
May 14, 2021	5:1
Oct 2, 2001	2:1
Jun 10, 1985	3:1

Canadian Pacific Kansas City Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history