TFI International Inc. (TFII) 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	$1.59	$1.85	+16.4%	—	$2.3B	—
Q1 26	$0.61	$0.69	+13.1%	—	$1.9B	—
Q4 25	$0.85	$1.09	+28.2%	—	$1.9B	—
Q3 25	$1.2	$1.2	0.0%	—	$2B	—
Q2 25	$1.23	$1.34	+8.9%	—	$2B	—
Q1 25	$0.94	$0.76	-19.1%	—	$2B	—
Q4 24	$1.58	$1.19	-24.7%	—	$2.1B	—
Q3 24	$1.78	$1.6	-10.1%	—	$2.2B	—
Q2 24	$1.62	$1.71	+5.6%	—	$2.3B	—
Q1 24	$1.37	$1.24	-9.5%	—	$1.9B	—
Q4 23	$1.67	$1.71	+2.4%	—	$2B	—
Q3 23	$1.73	$1.57	-9.2%	—	$1.9B	—
Q2 23	$1.73	$1.59	-8.1%	—	$1.8B	—
Q1 23	$1.49	$1.33	-10.7%	—	$1.9B	—
Q4 22	$1.72	$1.72	0.0%	—	$2B	—
Q3 22	$1.97	$2.01	+2.0%	—	$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	—	$3.74	—	—	$7.9B	—
FY24	—	$5	—	—	$8.4B	—
FY23	—	$5.88	—	—	$7.5B	—
FY22	—	$9.21	—	—	$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	$2.1B	$2.6B	$2.6B	$2.7B	$3.8B	$7.2B	$8.8B	$7.5B	$8.4B	$7.9B
YoY change	+3.12%	+28.5%	-2.22%	+3.78%	+40.8%	+91%	+22%	-14.7%	+11.6%	-6.1%

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	2.1B	2.6B	2.6B	2.7B	3.8B	7.2B	8.8B	7.5B	8.4B	7.9B
Cost of revenue	1.8B	2.3B	2.2B	2.3B	3.2B	6.1B	7.2B	6.3B	7.1B	6.8B
Gross profit	260.4M	296.8M	365.1M	354M	572.9M	1.1B	1.6B	1.3B	1.3B	1B
Gross margin	12.6%	11.2%	14.1%	13.2%	15.2%	15.9%	17.8%	16.8%	14.9%	13.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	15M	15.8M	14M	16.5M	23.1M	104.1M	139.4M	84.9M	76.3M	71.6M
Operating expenses	139.7M	162.7M	155.4M	123.9M	173.7M	484.5M	631.7M	519.7M	511.8M	488.2M
Operating income	125.3M	139M	214.1M	235.2M	399.2M	663.6M	941.2M	745.7M	739.6M	555.3M
Operating margin	6.08%	5.25%	8.27%	8.76%	10.6%	9.19%	10.7%	9.91%	8.81%	7.04%
Non-operating income, net	3.8M	-41.6M	9M	27.9M	18.9M	316.7M	204M	12.2M	-18.4M	10.1M
Pretax income	104.1M	64.2M	193.1M	220.7M	362.7M	906.2M	1.1B	676.8M	560.7M	405.4M
Income tax	23.7M	-22.2M	45.6M	52.7M	87M	151.8M	242.4M	171.9M	138.2M	94.8M
Net income	327.4M	86.4M	147.5M	160.8M	275.7M	754.4M	823.2M	504.9M	422.5M	310.6M
Net margin	15.9%	3.27%	5.7%	5.99%	7.29%	10.4%	9.34%	6.71%	5.03%	3.94%
EBITDA	220.2M	285M	349.2M	436.1M	690.4M	1B	1.4B	1.2B	1.3B	1.2B
EPS	5.08	1.39	2.44	2.8	3.09	7.14	9.21	5.88	5	3.74
Diluted EPS	4.98	1.35	2.36	2.74	3.03	6.97	9.02	5.8	4.96	3.72

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	1.9B	2B	1.9B	2.3B	2.2B	2.1B	2B	2B	2B	1.9B	1.9B	2.3B
Cost of revenue	1.6B	1.6B	1.6B	1.9B	1.9B	1.7B	1.7B	1.8B	1.7B	1.6B	1.7B	2B
Gross profit	294.2M	414.6M	252.4M	327.1M	301.2M	370.7M	216.6M	266M	254.3M	306.7M	200.1M	324.2M
Gross margin	15.4%	21.1%	13.5%	14.4%	13.8%	17.9%	11%	13.1%	12.9%	16%	10.3%	14.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	107.1M	110.4M	104.9M	119.9M	101M	109.7M	112.3M	99.3M	103.9M	101.1M	113.8M	111.2M
Operating income	187.1M	219.2M	147.6M	207.2M	200.1M	184.7M	104.3M	166.6M	150.3M	134M	86.2M	213M
Operating margin	9.79%	11.1%	7.89%	9.15%	9.16%	8.89%	5.31%	8.18%	7.64%	7%	4.42%	9.3%
Non-operating income, net	11.8M	-19.4M	2.7M	-610K	9M	-29.4M	10M	4.2M	1.6M	-5.7M	6M	4M
Pretax income	178.8M	175M	124.2M	160.7M	163.3M	112.5M	74.3M	130.5M	111.7M	88.8M	52.4M	180.2M
Income tax	45.5M	43.6M	31.4M	42.9M	35.3M	28.6M	18.3M	32.4M	27M	17.1M	9.1M	44M
Net income	133.3M	131.4M	92.8M	117.8M	128M	83.9M	56M	98.2M	84.7M	71.7M	43.3M	136.2M
Net margin	6.98%	6.67%	4.96%	5.2%	5.86%	4.04%	2.85%	4.82%	4.3%	3.74%	2.22%	5.95%
EBITDA	299.3M	335.2M	266M	356.8M	350.3M	340M	252.3M	319.6M	299.9M	279.7M	234.3M	358.4M
EPS	1.55	—	1.1	1.39	1.51	—	0.67	1.18	1.03	—	0.53	1.66
Diluted EPS	1.54	—	1.09	1.38	1.5	—	0.66	1.17	1.02	—	0.53	1.65

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	2.5B	2.3B	2.3B	2.8B	4.6B	10.4B	9B	11.7B	11.4B	8.6B	10.1B
Enterprise value	3.3B	3.1B	3.1B	4B	5.8B	12.5B	10.5B	13.7B	14.4B	11.6B	12.8B
Shares outstanding	93.7M	90.5M	88M	83.4M	89.1M	93.1M	89.4M	85.9M	84.6M	83.1M	83.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	7.48	26	15.5	17.5	16.7	13.8	10.9	23.1	27	27.6	29.8
P/S	1.19	0.85	0.88	1.05	1.22	1.44	1.02	1.55	1.36	1.09	1.23
P/B	3.28	2.91	2.87	3.53	2.57	4.52	3.64	4.51	4.27	3.21	3.65
EV/EBITDA	14.8	10.8	8.84	9.15	8.43	11.9	7.76	11.6	11	10.1	12.9
EV/Sales	1.58	1.16	1.19	1.49	1.54	1.72	1.2	1.82	1.72	1.47	1.58
Earnings yield	13.4%	3.84%	6.46%	5.7%	6%	7.23%	9.19%	4.32%	3.7%	3.62%	3.35%
FCF yield	4.68%	1.43%	4.98%	5.46%	10.1%	5.56%	6.86%	5.56%	5.81%	8.09%	6.22%
PEG	—	—	—	—	—	—	—	—	—	—	0.73

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	12.6%	11.2%	14.1%	13.2%	15.2%	15.9%	17.8%	16.8%	14.9%	13.2%	14.2%
Operating margin	6.08%	5.25%	8.27%	8.76%	10.6%	9.19%	10.7%	9.91%	8.81%	7.04%	9.3%
Net margin	15.9%	3.27%	5.7%	5.99%	7.29%	10.4%	9.34%	6.71%	5.03%	3.94%	4.14%
ROE	43.8%	11.2%	18.5%	20.2%	15.4%	32.7%	33.4%	19.5%	15.8%	11.6%	12.4%
ROA	15.9%	4.24%	7.22%	6.66%	7.17%	12.8%	15%	8.03%	5.91%	4.14%	4.97%
ROIC	6.22%	8.69%	10.2%	9.1%	10.1%	12.8%	18%	12.1%	9.85%	7.48%	8.11%
Return on tangible assets	793.7%	250.5%	118.4%	46.9%	78.3%	32.8%	35.5%	22.5%	22.2%	17.4%	18.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.1	1.22	1.08	1.08	1	0.83	1.31	1.25	1.03	1.03	1.09
Quick ratio	1.08	1.2	1.06	1.06	0.98	0.81	1.28	1.23	1.02	1.02	1.08
Debt / equity	1.09	1.07	1.01	1.47	0.69	0.88	0.7	0.9	1.12	1.2	1.11
Debt / assets	0.39	0.4	0.39	0.49	0.32	0.35	0.31	0.37	0.42	0.43	0.41
Net debt / EBITDA	3.68	2.89	2.31	2.68	1.77	1.94	1.16	1.7	2.27	2.62	2.43
Interest coverage	5.94	3.07	8	6.54	8.65	16.2	17.3	9.97	4.69	3.78	3.98
Effective tax rate	22.8%	0%	23.6%	23.9%	24%	16.8%	22.7%	25.4%	24.7%	23.4%	22.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	22	29.2	29.4	32.2	42.4	77.6	98.6	87.5	99.3	94.9	98.7
EPS (basic)	5.08	1.39	2.44	2.8	3.09	7.14	9.21	5.88	5	3.74	3.74
EPS (diluted)	4.98	1.35	2.36	2.74	3.03	6.97	9.02	5.8	4.96	3.72	4.07
Book value per share	7.97	8.56	9.04	9.56	20.1	24.8	27.6	30.2	31.6	32.2	33.3
FCF per share	1.22	0.36	1.29	1.84	5.23	6.23	6.88	7.56	7.85	8.37	7.94
Cash per share	0.02	0	0	0	0.05	0.21	1.65	3.91	0	2.53	2.5
Capex per share	0.27	1.03	1.34	1.56	1.02	1.89	2.48	3.36	3.87	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.23%	3.52%	4.55%	4.86%	2.4%	2.43%	2.52%	3.83%	3.9%	—	—
Capex / operating cash flow	10.7%	39.2%	32.3%	26.5%	12.9%	17.5%	14.5%	20%	22.4%	—	—
Payout ratio	10%	43.7%	25.4%	25.9%	24.5%	11.3%	11.8%	24%	31.7%	48.7%	45.7%
Dividend yield	1.34%	1.68%	1.64%	1.48%	1.47%	0.82%	1.09%	1.04%	1.17%	1.76%	1.54%

Yield

1.54%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.47

ex-dividend Jun 30, 2026

Payout ratio

46%

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
Jun 30, 2026	$0.47
Mar 31, 2026	$0.47
Jun 30, 2025	$0.45
Mar 31, 2025	$0.45
Dec 31, 2024	$0.45
Sep 27, 2024	$0.40

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	$1.9B	$2B	$1.9B	$2.3B	$2.2B	$2.1B	$2B	$2B	$2B	$1.9B	$1.9B	$2.3B
YoY change	-14.8%	+0.61%	+1.12%	+26.4%	+14.3%	+5.5%	+5%	-10%	-9.88%	-7.84%	-0.78%	+12.4%

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	1.9M	0	0	0	4.3M	19.3M	147.1M	335.6M	0	210.2M
Receivables	282.6M	298.8M	305.3M	304.2M	570.6M	986.8M	966.4M	846.7M	893.7M	859M
Inventory	4.4M	5.1M	6.4M	7.3M	8.8M	24.4M	24.2M	24M	18M	19.5M
Total current assets	324.6M	357M	357.6M	362.3M	652.8M	1.2B	1.3B	1.3B	1B	1.2B
Property, plant & equipment	1.5B	1.4B	1.4B	1.7B	1.4B	2.9B	2.5B	2.8B	852.1M	668.4M
Goodwill & intangibles	2B	2B	1.9B	2.1B	3.5B	3.6B	3.2B	4B	5.2B	5.7B
Total assets	2.1B	2B	2B	2.4B	3.8B	5.9B	5.5B	6.3B	7.1B	7.5B
Accounts payable	163M	167.3M	170.2M	164M	327.6M	612.1M	498.8M	450.6M	430.6M	461M
Short-term debt	20.7M	33.8M	67.9M	82.9M	131.5M	478.9M	153M	301.7M	252.7M	396M
Total current liabilities	295.4M	293.1M	331M	335.5M	654.5M	1.4B	966.7M	1.1B	1B	1.2B
Long-term debt	790.5M	791.1M	737.4M	1.1B	1.1B	1.6B	1.6B	2B	2.7B	2.8B
Total liabilities	1.3B	1.3B	1.2B	1.6B	2.1B	3.6B	3B	3.7B	4.5B	4.8B
Shareholders' equity	746.7M	774.3M	795.3M	797.6M	1.8B	2.3B	2.5B	2.6B	2.7B	2.7B
Total debt	811.2M	825M	805.3M	1.2B	1.2B	2B	1.7B	2.3B	3B	3.2B
Net debt	809.4M	825M	805.3M	1.2B	1.2B	2B	1.6B	2B	3B	3B

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	Q2 23	Q3 23	Q4 23	Q1 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	178.1M	88.3M	335.6M	902.4M	55.2M	0	16.4M	27.9M	31.6M	210.2M	185.8M	205.4M
Receivables	898M	975.2M	846.7M	920.4M	1B	893.7M	956.5M	931.8M	882.1M	859M	986.9M	1.1B
Inventory	23.7M	27.2M	24M	22.9M	25.2M	18M	17.2M	17.4M	17.3M	19.5M	20.1M	20.5M
Total current assets	1.2B	1.2B	1.3B	1.9B	1.2B	1B	1.1B	1.1B	1.1B	1.2B	1.3B	1.4B
Property, plant & equipment	2.6B	2.8B	2.8B	2.8B	3.2B	852.1M	772.4M	709.8M	633.1M	668.4M	589M	532.1M
Goodwill & intangibles	3.4B	4B	4B	4.2B	5.2B	5.2B	5.3B	5.4B	5.3B	5.7B	5.7B	5.6B
Total assets	5.5B	6.1B	6.3B	6.9B	7.5B	7.1B	7.1B	7.2B	7.1B	7.5B	7.5B	7.5B
Accounts payable	639.3M	719.7M	450.6M	673.2M	733.4M	430.6M	677.1M	682.6M	678.3M	461M	717.2M	772.9M
Short-term debt	148.8M	151.5M	301.7M	396.8M	409.3M	252.7M	240.5M	243.7M	233.7M	396M	381.6M	354.9M
Total current liabilities	853.9M	955.7M	1.1B	1.2B	1.2B	1B	1B	1B	1B	1.2B	1.2B	1.3B
Long-term debt	1.6B	1.9B	2B	2.5B	2.8B	2.7B	2.7B	2.8B	2.8B	2.8B	2.8B	2.7B
Total liabilities	2.9B	3.4B	3.7B	4.3B	4.7B	4.5B	4.5B	4.5B	4.5B	4.8B	4.8B	4.8B
Shareholders' equity	2.5B	2.6B	2.6B	2.6B	2.8B	2.7B	2.6B	2.7B	2.6B	2.7B	2.7B	2.7B
Total debt	1.7B	2B	2.3B	2.9B	3.2B	3B	3B	3B	3B	3.2B	3.2B	3B
Net debt	1.6B	1.9B	2B	2B	3.1B	3B	2.9B	3B	3B	3B	3B	2.8B

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	80.4M	86.4M	147.5M	168M	275.7M	754.4M	823.2M	504.9M	422.5M	310.6M
Depreciation & amortization	98.8M	148.1M	138M	203.5M	299.2M	393M	430.6M	442M	582.1M	610.5M
Stock-based compensation	3.2M	3.7M	3M	4.3M	7M	15.4M	14.6M	13.5M	11.1M	15.1M
Change in working capital	6.7M	-11.3M	6.9M	25.7M	-14.2M	-102.9M	-60.6M	230.7M	153.5M	129M
Operating cash flow	237.1M	237.7M	365.2M	491.2M	703.3M	1B	1.5B	1.4B	1.5B	977.8M
Capital expenditure	-25.3M	-93.2M	-117.8M	-130.4M	-90.6M	-175.8M	-222M	-288.2M	-327.4M	—
Investing cash flow	-850.9M	-88.2M	-182.4M	-206.7M	-376.8M	-1.2B	229.3M	-794.6M	-1.2B	-137.7M
Dividends paid	-32.8M	-37.8M	-37.4M	-41.6M	-67.6M	-85.4M	-97.3M	-121.1M	-133.9M	-151.1M
Share repurchases	-78.9M	-47.2M	-73.6M	-133.7M	-42.9M	-214.7M	-577.2M	-334.6M	-106.2M	-242.7M
Financing cash flow	-129.9M	-115.5M	-99.2M	-142.7M	-577.9M	413.9M	-1.1B	-40.8M	-178M	-409M
Net change in cash	-743.7M	34M	83.6M	141.8M	-251.4M	261M	675.7M	608.8M	45.5M	431.1M
Free cash flow	114.7M	32.3M	113.5M	153.8M	466.5M	579.6M	614.7M	649.5M	663.6M	694.9M

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	—	—	—	—	—	—	—	—	84.7M	71.7M	43.3M	136.2M
Depreciation & amortization	—	—	—	—	—	—	—	—	153M	149.8M	150.9M	146.2M
Stock-based compensation	—	—	—	—	—	—	—	—	4M	3.9M	4.3M	4.2M
Change in working capital	—	—	—	—	—	—	—	—	43.5M	67M	-105.4M	-88.8M
Operating cash flow	—	—	—	—	—	—	—	—	255.4M	282.2M	121.5M	255.6M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	13K	0	19.1M	0	0	0	0	0	3M	-120.2M	-36.3M	1.2M
Dividends paid	—	—	—	—	—	—	—	—	-37.3M	-36.7M	-38M	-38.9M
Share repurchases	—	—	—	—	—	—	—	—	-67.5M	-17.4M	-12M	-4.5M
Financing cash flow	—	—	—	—	—	—	—	—	-194.8M	92.8M	-102.5M	-192.9M
Net change in cash	13K	0	19.1M	0	0	0	0	0	63.6M	254.9M	-17.2M	63.9M
Free cash flow	—	—	—	—	—	—	—	—	182.2M	198.1M	94.3M	180M

TFI International Inc. 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