Canadian Pacific Kansas City (CP) Financials

$83.50 +0.37 (+0.45%)

Closing price 03:59 PM Eastern

Extended Trading

$82.67 -0.83 (-0.99%)

As of 06:11 PM Eastern

Annual Income Statements for Canadian Pacific Kansas City

This table shows Canadian Pacific Kansas City's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	978	1,190	1,911	1,430	1,880	1,916	2,232	2,599	2,975	2,582	3,020
Consolidated Net Income / (Loss)	978	1,190	1,911	1,430	1,880	1,916	2,232	2,599	2,972	2,578	3,017
Net Income / (Loss) Continuing Operations	978	1,190	1,911	1,430	1,880	1,910	2,232	2,599	2,972	2,578	3,017
Total Pre-Tax Income	1,416	1,601	1,985	1,896	2,425	2,510	2,833	3,063	-2,313	3,314	3,998
Total Operating Income	1,944	1,794	2,002	2,074	2,408	2,596	2,509	2,460	3,324	3,597	4,091
Total Gross Profit	3,217	3,073	3,479	3,465	3,977	4,141	4,360	4,319	6,470	7,069	7,852
Total Revenue	4,853	4,638	5,208	5,361	6,005	6,044	6,257	6,513	9,510	10,101	10,996
Total Cost of Revenue	1,636	1,565	1,729	1,896	2,028	1,903	1,897	2,195	3,040	3,033	3,145
Operating Cost of Revenue	1,636	1,565	1,729	1,896	2,028	1,903	1,897	2,195	3,040	3,033	3,145
Total Operating Expenses	1,273	1,278	1,477	1,391	1,569	1,545	1,851	1,859	3,146	3,472	3,761
Depreciation Expense	430	476	525	510	544	611	635	630	1,169	1,319	1,472
Other Operating Expenses / (Income)	892	802	952	881	1,025	934	1,216	1,228	1,978	2,153	2,289
Total Other Income / (Expense), net	-527	-193	-17	-178	17	-85	324	603	-5,636	-283	-93
Interest & Investment Income	-	-	-	-	0.00	-	-110	312	-410	-556	-396
Other Income / (Expense), net	-242	158	359	154	362	274	779	291	-5,226	274	303
Income Tax Expense	439	412	74	467	544	594	601	464	-5,284	735	981
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.00	-3.03	-3.47	-2.92
Basic Earnings per Share	$8.47	$10.69	$16.49	$13.65	$3.52	$3.61	$4.20	$2.79	$3.20	$2.76	$3.30
Weighted Average Basic Shares Outstanding	159.70M	149.60M	145.90M	142.90M	693.80M	677.20M	679.70M	930M	931.30M	933M	916.20M
Diluted Earnings per Share	$8.40	$10.63	$16.44	$13.61	$3.50	$3.59	$4.18	$2.79	$3.19	$2.76	$3.29
Weighted Average Diluted Shares Outstanding	161M	150.50M	146.30M	143.30M	696.30M	679.90M	682.80M	932.90M	933.70M	934.60M	917.10M
Weighted Average Basic & Diluted Shares Outstanding	153.02M	146.37M	144.21M	140.04M	136.75M	133.30M	929.71M	930.77M	932.43M	933.71M	897.96M
Cash Dividends to Common per Share	$1.40	$1.85	$2.19	$2.51	$3.14	$3.56	$0.76	$0.76	$0.76	$0.76	$0.87

This table shows Canadian Pacific Kansas City's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	576	806	572	661	619	729	633	906	661	821	606
Consolidated Net Income / (Loss)	576	802	572	660	619	727	632	906	658	820	606
Net Income / (Loss) Continuing Operations	576	802	572	660	619	727	632	906	658	820	606
Total Pre-Tax Income	767	1,005	763	873	813	864	835	1,168	871	1,124	803
Total Operating Income	867	1,131	849	926	890	932	916	986	959	1,229	902
Total Gross Profit	1,641	2,245	1,752	1,845	1,840	1,845	1,830	1,935	1,886	2,200	1,829
Total Revenue	2,467	2,969	2,600	2,633	2,627	2,242	2,639	2,716	2,629	3,012	2,652
Total Cost of Revenue	826	723	848	788	787	397	809	781	742	812	823
Operating Cost of Revenue	826	723	848	788	787	397	809	781	742	812	823
Total Operating Expenses	774	1,115	903	919	950	914	915	949	927	971	927
Depreciation Expense	333	359	345	346	349	280	351	362	361	399	367
Other Operating Expenses / (Income)	441	755	558	574	600	634	564	587	566	572	560
Total Other Income / (Expense), net	-100	-125	-86	-53	-77	-67	-81	182	-88	-106	-99
Interest & Investment Income	-153	-273	-152	-146	-142	-268	-150	92	-159	-178	-163
Other Income / (Expense), net	53	34	66	94	65	48	70	90	71	72	65
Income Tax Expense	191	203	191	213	194	137	203	262	213	303	197
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-3.79	-0.74	-1.46	0.00	-1.27	-0.70	0.00	-2.15	-0.07	-0.72
Basic Earnings per Share	$0.62	$0.64	$0.61	$0.71	$0.67	$0.56	$0.68	$0.98	$0.73	$0.91	$0.67
Weighted Average Basic Shares Outstanding	931.50M	931.30M	932.40M	932.80M	933.20M	933M	933.20M	923.80M	910.40M	916.20M	896.80M
Diluted Earnings per Share	$0.62	$0.64	$0.61	$0.71	$0.67	$0.56	$0.67	$0.98	$0.73	$0.91	$0.67
Weighted Average Diluted Shares Outstanding	933.90M	933.70M	934.40M	934.60M	935.30M	934.60M	934.30M	924.80M	911.40M	917.10M	897.30M
Weighted Average Basic & Diluted Shares Outstanding	931.79M	932.43M	932.70M	933.13M	933.34M	933.71M	930.46M	917.98M	900.83M	897.96M	887.74M
Cash Dividends to Common per Share	$0.14	-	$0.14	$0.14	$0.14	-	$0.13	$0.17	$0.16	-	$0.16

This table details how cash moves in and out of Canadian Pacific Kansas City's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	307	-362	138	-203	55	11	-51	273	-217	191	-405
Net Cash From Operating Activities	1,778	1,555	1,734	1,987	2,304	2,197	2,886	3,061	3,134	3,659	3,872
Net Cash From Continuing Operating Activities	1,778	1,555	1,734	1,987	2,304	2,197	2,886	3,061	2,906	3,659	3,872
Net Income / (Loss) Continuing Operations	978	1,190	1,911	1,430	1,880	1,916	2,232	2,599	2,972	2,578	3,017
Consolidated Net Income / (Loss)	978	1,190	1,911	1,430	1,880	1,916	2,232	2,599	2,972	2,578	3,017
Depreciation Expense	430	476	525	510	544	611	635	630	1,169	1,319	1,472
Non-Cash Adjustments To Reconcile Net Income	378	-161	-336	-130	-350	-207	-90	-151	4,927	-265	-519
Changes in Operating Assets and Liabilities, net	-7.95	50	-366	177	230	-123	110	-17	-6,160	26	-98
Net Cash From Investing Activities	-812	-796	-1,029	-1,068	-1,390	-1,591	-10,746	-1,106	-1,638	-1,942	-1,944
Net Cash From Continuing Investing Activities	-812	-796	-1,029	-1,068	-1,390	-1,591	-10,746	-1,106	-1,638	-1,942	-1,944
Purchase of Property, Plant & Equipment	-1,100	-880	-1,065	-1,137	-1,269	-1,310	-1,199	-1,151	-1,869	-1,962	-2,262
Acquisitions	-	-	0.00	0.00	0.00	-312	-9,626	0.00	-	0.00	0.00
Purchase of Investments	-	-	-	0.00	-134	15	0.00	0.00	-202	0.00	0.00
Sale of Property, Plant & Equipment	286	86	33	57	20	17	75	43	43	44	42
Divestitures	-	-	-	-	-	-	0.00	-	0.00	0.00	360
Sale and/or Maturity of Investments	-	-	-	-	-	-	0.00	0.00	208	0.00	0.00
Other Investing Activities, net	2.89	-2.23	2.38	11	-6.17	-1.57	3.91	2.22	183	-24	-83
Net Cash From Financing Activities	-692	-1,111	-556	-1,130	-856	-599	7,776	-1,697	-1,481	-1,564	-2,294
Net Cash From Continuing Financing Activities	-692	-1,111	-556	-1,130	-856	-599	7,776	-1,697	-1,481	-1,564	-2,294
Repayment of Debt	-1,011	-36	-25	-552	9.25	154	-340	-1,199	-1,827	-1,615	-699
Repurchase of Common Equity	-2,015	-900	-303	-808	-874	-1,183	-	-	0.00	0.00	-2,875
Payment of Dividends	-163	-190	-246	-255	-318	-366	-397	-522	-536	-492	-581
Issuance of Debt	2,466	0.00	0.00	468	306	755	8,493	0.00	829	495	1,807
Issuance of Common Equity	31	16	36	18	20	41	20	24	52	48	53
Effect of Exchange Rate Changes	33	-9.67	-10	8.06	-3.08	-	-	15	-5.30	38	-39
Cash Interest Paid	243	363	377	339	342	347	333	474	625	565	629
Cash Income Taxes Paid	127	240	338	233	390	456	432	302	686	665	842

This table details how cash moves in and out of Canadian Pacific Kansas City's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-21	-101	41	27	-69	192	-31	75	-280	-169	161
Net Cash From Operating Activities	729	1,064	750	926	963	1,020	804	1,040	874	1,154	699
Net Cash From Continuing Operating Activities	729	837	750	926	963	1,020	804	1,040	874	1,154	699
Net Income / (Loss) Continuing Operations	540	825	572	654	635	718	632	941	624	820	606
Consolidated Net Income / (Loss)	540	825	572	654	635	718	632	941	624	820	606
Depreciation Expense	322	366	345	342	358	274	351	382	345	395	367
Non-Cash Adjustments To Reconcile Net Income	-232	-200	-104	-54	-62	-45	-74	-319	-58	-68	-71
Changes in Operating Assets and Liabilities, net	97	-155	-63	-16	32	74	-105	36	-37	7.10	-202
Net Cash From Investing Activities	-531	-337	-400	-567	-575	-399	-497	-252	-617	-577	-482
Net Cash From Continuing Investing Activities	-531	-337	-400	-567	-575	-399	-497	-252	-617	-577	-482
Purchase of Property, Plant & Equipment	-524	-564	-389	-586	-566	-420	-494	-573	-594	-601	-476
Sale of Property, Plant & Equipment	8.60	22	0.74	6.57	6.75	30	7.65	3.36	0.48	31	5.73
Other Investing Activities, net	-15	222	-12	13	-16	-9.50	-10	-45	-15	-13	-11
Net Cash From Financing Activities	-225	-593	-318	-336	-449	-460	-337	-680	-539	-738	-58
Net Cash From Continuing Financing Activities	-225	-593	-318	-336	-449	-460	-337	-680	-539	-738	-58
Repayment of Debt	10	-1,008	-52	43	-68	-1,081	-969	-594	910	151	-604
Repurchase of Common Equity	-	-	0.00	-	-	-	-241	-1,036	-1,268	-329	-487
Payment of Dividends	-126	-131	-131	-129	-134	-99	-123	-161	-141	-155	-146
Issuance of Debt	-118	532	-151	-	-257	712	991	1,088	-50	-420	1,162
Issuance of Common Equity	8.98	15	16	14	10	7.21	5.56	22	9.44	16	18
Effect of Exchange Rate Changes	5.96	-9.00	9.60	4.28	-7.22	31	-0.70	-32	2.16	-7.78	1.43
Cash Interest Paid	105	204	181	116	120	149	125	179	131	194	145
Cash Income Taxes Paid	144	208	179	224	133	129	165	309	136	232	209

This table presents Canadian Pacific Kansas City's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	14,198	14,304	16,001	15,574	17,238	18,532	53,359	54,312	60,523	60,933	62,679
Total Current Assets	1,111	751	1,012	819	933	1,036	1,058	1,396	2,274	2,350	2,143
Cash & Equivalents	470	122	269	45	102	115	54	333	351	513	134
Accounts Receivable	466	440	546	597	620	647	641	751	1,429	1,367	1,480
Inventories, net	136	137	121	127	140	163	184	210	303	317	366
Other Current Assets	39	52	77	50	69	111	169	102	190	153	163
Plant, Property, & Equipment, net	11,766	12,419	13,522	13,496	14,763	0.00	0.00	16,542	39,194	38,906	40,346
Total Noncurrent Assets	1,321	1,133	1,466	1,260	1,542	17,496	52,301	36,374	18,651	19,271	20,189
Long-Term Investments	-	-	-	-	-	156	33,277	33,487	0.00	0.00	345
Goodwill	153	150	149	148	159	287	290	254	13,429	13,438	13,445
Intangible Assets	-	-	-	-	-	-	-	31	2,253	2,185	2,123
Employee Benefit Assets	1,013	796	1,118	911	773	701	1,813	2,292	2,528	3,185	3,741
Other Noncurrent Operating Assets	155	187	199	201	610	16,352	16,920	310	441	464	535
Total Liabilities & Shareholders' Equity	14,198	14,304	16,001	15,574	17,238	18,532	53,359	54,312	60,523	60,933	62,679
Total Liabilities	10,731	10,861	10,886	10,712	11,790	12,794	26,883	25,576	28,398	26,982	28,530
Total Current Liabilities	1,046	1,002	1,577	1,433	1,766	2,080	2,472	2,374	4,325	3,931	4,369
Short-Term Debt	22	19	593	371	462	930	1,213	1,116	2,381	1,958	2,363
Accounts Payable	1,025	984	984	1,062	1,305	1,150	1,259	1,258	1,944	1,974	2,006
Total Noncurrent Liabilities	9,684	9,859	9,309	9,279	10,023	10,714	24,410	23,201	24,073	23,051	24,161
Long-Term Debt	6,455	6,444	5,891	6,001	6,287	6,730	14,539	13,406	14,658	13,753	14,548
Noncurrent Deferred & Payable Income Tax Liabilities	2,452	2,657	2,639	2,578	2,698	2,874	8,885	9,013	8,371	8,315	8,627
Noncurrent Employee Benefit Liabilities	548	546	595	526	605	652	562	398	440	381	392
Other Noncurrent Operating Liabilities	230	211	184	174	433	459	424	384	604	602	594
Total Equity & Noncontrolling Interests	3,468	3,443	5,115	4,863	5,448	5,737	26,476	28,736	32,125	33,951	34,149
Total Preferred & Common Equity	3,468	3,443	5,115	4,863	5,448	5,737	26,476	28,736	31,429	33,258	33,458
Total Common Equity	3,468	3,443	5,115	4,863	5,448	5,737	26,476	28,736	31,429	33,258	33,458
Common Stock	1,519	1,529	1,649	1,498	1,573	1,598	19,990	18,914	19,459	17,905	18,127
Retained Earnings	3,017	3,253	4,850	4,862	5,819	6,346	8,133	9,755	12,438	13,492	14,428
Accumulated Other Comprehensive Income / (Loss)	-1,068	-1,339	-1,384	-1,497	-1,944	-2,206	-1,646	67	-468	1,861	903
Noncontrolling Interest	-	-	-	-	-	-	-	0.00	696	693	691

This table presents Canadian Pacific Kansas City's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	53,400	54,345	59,834	59,843	60,316	60,503	60,858	61,228	62,540	62,245	62,842
Total Current Assets	1,195	1,316	2,205	2,267	2,323	2,342	2,274	2,406	2,588	2,350	2,440
Cash & Equivalents	100	214	246	217	383	407	343	483	587	295	293
Accounts Receivable	766	761	1,252	1,368	1,435	1,383	1,437	1,422	1,472	1,521	1,574
Inventories, net	194	211	288	294	295	308	301	324	334	348	383
Other Current Assets	135	130	221	186	210	244	193	177	195	186	190
Plant, Property, & Equipment, net	16,107	16,677	38,681	38,610	38,917	39,075	39,406	39,060	39,984	39,933	40,225
Total Noncurrent Assets	36,097	36,353	18,947	18,966	19,076	19,086	19,178	19,761	19,968	19,962	20,178
Long-Term Investments	33,591	33,407	402	406	414	409	411	409	333	339	348
Goodwill	284	285	13,357	13,407	13,462	13,454	13,441	13,445	13,474	13,444	13,437
Intangible Assets	-	-	2,282	2,262	2,235	2,218	2,200	2,170	2,159	2,139	2,106
Employee Benefit Assets	1,913	2,356	2,464	2,471	2,531	2,569	2,667	3,258	3,511	3,504	3,748
Other Noncurrent Operating Assets	310	305	442	420	434	436	459	480	491	536	540
Total Liabilities & Shareholders' Equity	53,400	54,345	59,834	59,843	60,316	60,503	60,858	61,228	62,540	62,245	62,842
Total Liabilities	25,902	25,125	28,845	28,624	27,996	27,747	27,492	26,982	27,924	28,743	28,860
Total Current Liabilities	2,044	1,980	3,279	3,243	4,744	4,589	4,291	2,954	2,774	3,734	3,633
Short-Term Debt	899	810	1,443	1,318	2,880	2,681	2,371	1,052	765	1,652	1,747
Accounts Payable	1,145	1,170	1,836	1,925	1,865	1,908	1,920	1,902	2,009	2,082	1,886
Total Noncurrent Liabilities	23,858	23,145	25,566	25,381	23,252	23,158	23,201	24,028	25,151	25,008	25,227
Long-Term Debt	14,063	13,357	16,137	16,078	13,906	13,853	13,848	14,702	15,585	15,502	15,683
Noncurrent Deferred & Payable Income Tax Liabilities	8,890	9,033	8,374	8,293	8,301	8,287	8,319	8,343	8,523	8,435	8,577
Noncurrent Employee Benefit Liabilities	528	397	425	420	431	425	429	380	400	393	385
Other Noncurrent Operating Liabilities	377	358	630	590	614	593	605	602	642	678	581
Total Equity & Noncontrolling Interests	27,497	29,220	30,989	31,219	32,320	32,756	33,365	34,246	34,616	33,503	33,983
Total Preferred & Common Equity	27,497	29,220	30,289	30,521	31,624	32,061	32,672	33,553	33,924	32,813	33,292
Total Common Equity	27,497	29,220	30,289	30,521	31,624	32,061	32,672	33,553	33,924	32,813	33,292
Common Stock	18,597	18,944	19,386	18,965	18,999	18,816	19,070	17,880	18,642	17,894	17,732
Retained Earnings	8,803	10,221	11,315	11,507	12,569	12,968	13,622	13,828	14,584	13,768	14,289
Accumulated Other Comprehensive Income / (Loss)	97	55	-411	49	57	277	-21	1,845	698	1,150	1,272
Noncontrolling Interest	-	-	699	698	696	695	694	693	692	690	690

This table displays calculated financial ratios and metrics derived from Canadian Pacific Kansas City's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-14.86%	-4.44%	12.31%	2.93%	12.01%	0.65%	3.53%	4.09%	46.00%	6.22%	8.86%
EBITDA Growth	-13.80%	13.92%	18.86%	-5.12%	21.02%	5.01%	12.73%	-13.79%	-121.71%	807.05%	13.04%
EBIT Growth	-14.83%	14.73%	20.96%	-5.62%	24.30%	3.59%	14.60%	-16.32%	-169.16%	303.40%	13.54%
NOPAT Growth	-8.04%	-0.61%	44.57%	-18.86%	19.40%	6.09%	-0.21%	5.59%	11.46%	20.28%	10.31%
Net Income Growth	-23.08%	21.72%	60.62%	-25.20%	31.53%	1.88%	16.51%	16.44%	14.33%	-13.23%	17.01%
EPS Growth	-0.71%	26.55%	54.66%	-17.21%	31.53%	1.88%	16.43%	-33.35%	14.46%	-13.33%	19.00%
Operating Cash Flow Growth	-2.73%	-12.57%	11.54%	14.61%	15.95%	-4.68%	31.41%	6.04%	2.38%	16.77%	5.81%
Free Cash Flow Firm Growth	-29.68%	-29.91%	-62.96%	349.09%	-43.47%	-1.44%	554.51%	-75.27%	-2,484.28%	106.73%	-49.36%
Invested Capital Growth	-1.25%	3.26%	15.82%	-1.24%	8.08%	8.53%	-32.29%	6.19%	412.88%	0.69%	3.77%
Revenue Q/Q Growth	0.00%	3.90%	7.25%	-3.59%	7.42%	3.56%	-5.71%	2.26%	16.12%	-6.71%	7.53%
EBITDA Q/Q Growth	0.00%	5.58%	8.10%	-4.02%	10.42%	6.56%	-7.74%	2.12%	45.73%	-5.06%	8.16%
EBIT Q/Q Growth	0.00%	6.24%	9.15%	-3.95%	11.03%	6.95%	-8.69%	2.12%	18.13%	-4.55%	7.90%
NOPAT Q/Q Growth	0.00%	-0.35%	43.51%	-22.73%	6.55%	8.28%	-9.19%	8.21%	15.86%	-4.00%	4.06%
Net Income Q/Q Growth	0.00%	7.77%	40.66%	-24.59%	11.42%	10.03%	-13.08%	24.39%	-2.68%	-2.82%	3.18%
EPS Q/Q Growth	0.00%	5.46%	33.33%	2.41%	11.42%	10.03%	8.57%	23.82%	-2.78%	-28.40%	4.42%
Operating Cash Flow Q/Q Growth	0.00%	11.01%	1.48%	1.21%	10.92%	0.23%	-11.65%	38.51%	-6.99%	-1.18%	3.57%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-47.96%	76.26%	-36.78%	-8.82%	7,800.17%	-81.59%	1.01%	31.46%	-29.68%
Invested Capital Q/Q Growth	0.00%	-4.48%	4.37%	-6.06%	-0.39%	1.52%	-41.48%	7.65%	1.29%	-0.18%	1.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.28%	66.25%	66.80%	64.64%	66.22%	68.51%	69.68%	66.30%	68.04%	69.98%	71.40%
EBITDA Margin	43.92%	52.36%	55.42%	51.08%	55.18%	57.57%	62.69%	51.92%	-7.72%	51.37%	53.35%
Operating Margin	40.05%	38.69%	38.43%	38.70%	40.09%	42.94%	40.10%	37.77%	34.95%	35.60%	37.20%
EBIT Margin	35.06%	42.09%	45.33%	41.57%	46.12%	47.47%	52.55%	42.24%	-20.01%	38.31%	39.96%
Profit (Net Income) Margin	20.14%	25.66%	36.70%	26.67%	31.31%	31.70%	35.67%	39.90%	31.25%	25.53%	27.44%
Tax Burden Percent	69.01%	74.30%	96.28%	75.39%	77.56%	76.33%	78.78%	84.85%	-128.50%	77.81%	75.47%
Interest Burden Percent	83.26%	82.04%	84.08%	85.10%	87.53%	87.49%	86.17%	111.33%	121.54%	85.63%	90.99%
Effective Tax Rate	30.99%	25.70%	3.72%	24.61%	22.44%	23.67%	21.22%	15.15%	0.00%	22.19%	24.53%
Return on Invested Capital (ROIC)	14.07%	13.85%	18.26%	13.89%	16.04%	15.71%	17.96%	22.78%	8.04%	5.76%	6.22%
ROIC Less NNEP Spread (ROIC-NNEP)	7.31%	11.53%	18.00%	11.75%	16.24%	14.78%	12.96%	20.01%	-34.74%	4.35%	5.77%
Return on Net Nonoperating Assets (RNNOA)	9.49%	20.59%	26.41%	14.77%	20.44%	18.55%	-4.10%	-13.37%	1.72%	2.04%	2.64%
Return on Equity (ROE)	23.56%	34.44%	44.67%	28.66%	36.48%	34.26%	13.86%	9.41%	9.76%	7.80%	8.86%
Cash Return on Invested Capital (CROIC)	15.33%	10.64%	3.59%	15.13%	8.27%	7.53%	56.46%	16.77%	-126.69%	5.07%	2.51%
Operating Return on Assets (OROA)	11.96%	13.70%	15.58%	14.11%	16.88%	16.04%	9.15%	5.11%	-3.31%	6.37%	7.11%
Return on Assets (ROA)	6.87%	8.35%	12.61%	9.06%	11.46%	10.71%	6.21%	4.83%	5.18%	4.25%	4.88%
Return on Common Equity (ROCE)	23.56%	34.44%	44.67%	28.66%	36.48%	34.26%	13.86%	9.41%	9.65%	7.64%	8.68%
Return on Equity Simple (ROE_SIMPLE)	28.19%	34.57%	37.36%	29.40%	34.52%	33.39%	8.43%	9.04%	9.45%	7.75%	0.00%
Net Operating Profit after Tax (NOPAT)	1,341	1,333	1,927	1,564	1,867	1,981	1,977	2,087	2,327	2,798	3,087
NOPAT Margin	27.64%	28.75%	37.00%	29.17%	31.10%	32.78%	31.59%	32.05%	24.47%	27.70%	28.07%
Net Nonoperating Expense Percent (NNEP)	6.76%	2.32%	0.26%	2.14%	-0.20%	0.93%	5.01%	2.77%	42.78%	1.42%	0.45%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.83%	4.73%	5.63%	6.05%
Cost of Revenue to Revenue	33.72%	33.75%	33.20%	35.36%	33.78%	31.49%	30.32%	33.70%	31.96%	30.02%	28.60%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.24%	27.57%	28.36%	25.94%	26.13%	25.56%	29.58%	28.53%	33.09%	34.37%	34.20%
Earnings before Interest and Taxes (EBIT)	1,701	1,952	2,361	2,228	2,770	2,869	3,288	2,751	-1,903	3,870	4,394
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,132	2,428	2,886	2,738	3,314	3,480	3,923	3,382	-734	5,190	5,866
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.66	5.68	4.90	4.98	6.20	7.92	1.78	2.38	2.32	2.03	1.98
Price to Tangible Book Value (P/TBV)	5.92	5.94	5.04	5.13	6.38	8.34	1.80	2.40	4.64	3.83	3.71
Price to Revenue (P/Rev)	4.05	4.21	4.81	4.51	5.62	7.52	7.54	10.48	7.68	6.69	6.03
Price to Earnings (P/E)	20.08	16.42	13.11	16.93	17.96	23.73	21.14	26.28	24.56	26.16	21.96
Dividend Yield	0.91%	1.05%	0.99%	1.13%	0.97%	0.78%	0.86%	0.79%	0.72%	1.03%	0.85%
Earnings Yield	4.98%	6.09%	7.63%	5.91%	5.57%	4.21%	4.73%	3.81%	4.07%	3.82%	4.55%
Enterprise Value to Invested Capital (EV/IC)	2.71	2.65	2.76	2.73	3.34	4.03	3.33	5.19	1.87	1.71	1.65
Enterprise Value to Revenue (EV/Rev)	5.28	5.58	6.00	5.69	6.73	8.74	4.73	7.52	9.51	8.26	7.59
Enterprise Value to EBITDA (EV/EBITDA)	12.03	10.66	10.83	11.15	12.20	15.19	7.54	14.49	0.00	16.08	14.23
Enterprise Value to EBIT (EV/EBIT)	15.07	13.26	13.24	13.70	14.59	18.42	9.00	17.81	0.00	21.56	18.99
Enterprise Value to NOPAT (EV/NOPAT)	19.11	19.41	16.22	19.52	21.64	26.68	14.97	23.47	38.87	29.82	27.03
Enterprise Value to Operating Cash Flow (EV/OCF)	14.42	16.65	18.03	15.36	17.54	24.06	10.25	16.01	28.86	22.80	21.55
Enterprise Value to Free Cash Flow (EV/FCFF)	17.54	25.26	82.39	17.91	41.95	55.66	4.76	31.88	0.00	33.85	66.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.87	1.88	1.27	1.31	1.24	1.34	0.60	0.51	0.53	0.46	0.50
Long-Term Debt to Equity	1.86	1.87	1.15	1.23	1.15	1.17	0.55	0.47	0.46	0.41	0.43
Financial Leverage	1.30	1.79	1.47	1.26	1.26	1.25	-0.32	-0.67	-0.05	0.47	0.46
Leverage Ratio	3.43	4.12	3.54	3.16	3.18	3.20	2.23	1.95	1.89	1.84	1.82
Compound Leverage Factor	2.85	3.38	2.98	2.69	2.79	2.80	1.92	2.17	2.29	1.57	1.65
Debt to Total Capital	65.13%	65.24%	55.90%	56.72%	55.33%	57.17%	37.30%	33.57%	34.66%	31.63%	33.12%
Short-Term Debt to Total Capital	0.22%	0.19%	5.11%	3.30%	3.78%	6.94%	2.87%	2.58%	4.84%	3.94%	4.63%
Long-Term Debt to Total Capital	64.91%	65.06%	50.79%	53.42%	51.55%	50.23%	34.43%	30.99%	29.81%	27.69%	28.49%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.42%	1.40%	1.35%
Common Equity to Total Capital	34.87%	34.76%	44.10%	43.28%	44.67%	42.83%	62.70%	66.43%	63.93%	66.97%	65.53%
Debt to EBITDA	3.04	2.66	2.25	2.33	2.04	2.20	4.02	4.29	-23.21	3.03	2.88
Net Debt to EBITDA	2.82	2.61	2.15	2.31	2.01	2.12	-4.48	-5.71	-22.73	2.93	2.80
Long-Term Debt to EBITDA	3.03	2.65	2.04	2.19	1.90	1.93	3.71	3.96	-19.97	2.65	2.48
Debt to NOPAT	4.83	4.85	3.36	4.07	3.61	3.87	7.97	6.96	7.32	5.61	5.48
Net Debt to NOPAT	4.48	4.76	3.22	4.05	3.56	3.73	-8.90	-9.25	7.17	5.43	5.32
Long-Term Debt to NOPAT	4.81	4.83	3.06	3.84	3.37	3.40	7.35	6.42	6.30	4.91	4.71
Altman Z-Score	2.14	2.15	2.58	2.56	3.01	3.38	1.56	2.12	1.84	2.16	2.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.14%	2.10%	2.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.06	0.75	0.64	0.57	0.53	0.50	0.43	0.59	0.53	0.60	0.49
Quick Ratio	0.90	0.56	0.52	0.45	0.41	0.37	0.28	0.46	0.41	0.48	0.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,461	1,024	379	1,704	963	950	6,215	1,537	-36,643	2,465	1,248
Operating Cash Flow to CapEx	218.19%	195.97%	168.10%	184.11%	184.45%	169.92%	256.82%	276.32%	171.59%	190.84%	174.41%
Free Cash Flow to Firm to Interest Expense	5.13	2.92	1.01	5.13	2.79	2.64	18.05	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	6.24	4.44	4.61	5.99	6.67	6.12	8.38	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	3.38	2.17	1.87	2.74	3.06	2.52	5.12	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.33	0.34	0.34	0.37	0.34	0.17	0.12	0.17	0.17	0.18
Accounts Receivable Turnover	9.06	10.24	10.57	9.38	9.86	9.54	9.72	9.36	8.72	7.23	7.73
Inventory Turnover	11.35	11.47	13.42	15.31	15.19	12.55	10.94	11.15	11.85	9.78	9.20
Fixed Asset Turnover	0.40	0.38	0.40	0.40	0.43	0.00	0.00	0.00	0.34	0.26	0.28
Accounts Payable Turnover	1.54	1.56	1.76	1.85	1.71	1.55	1.57	1.74	1.90	1.55	1.58
Days Sales Outstanding (DSO)	40.27	35.66	34.54	38.92	37.00	38.26	37.56	39.00	41.84	50.51	47.24
Days Inventory Outstanding (DIO)	32.16	31.82	27.20	23.83	24.03	29.08	33.38	32.74	30.79	37.33	39.66
Days Payable Outstanding (DPO)	236.91	234.20	207.66	196.93	212.92	235.37	231.76	209.36	192.30	235.78	230.97
Cash Conversion Cycle (CCC)	-164.48	-166.72	-145.92	-134.18	-151.89	-168.03	-160.83	-137.62	-119.67	-147.93	-144.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,474	9,783	11,331	11,190	12,094	13,126	8,888	9,438	48,408	48,742	50,581
Invested Capital Turnover	0.51	0.48	0.49	0.48	0.52	0.48	0.57	0.71	0.33	0.21	0.22
Increase / (Decrease) in Invested Capital	-120	309	1,548	-140	904	1,032	-4,238	551	38,969	334	1,839
Enterprise Value (EV)	25,639	25,881	31,266	30,525	40,413	52,849	29,592	48,992	90,432	83,436	83,451
Market Capitalization	19,633	19,540	25,051	24,198	33,767	45,461	47,181	68,290	73,050	67,546	66,328
Book Value per Share	$20.87	$23.54	$35.29	$34.10	$39.71	$42.66	$39.70	$30.90	$33.73	$35.63	$37.14
Tangible Book Value per Share	$19.96	$22.51	$34.26	$33.06	$38.55	$40.52	$39.26	$30.59	$16.90	$18.90	$19.86
Total Capital	9,944	9,905	11,599	11,235	12,197	13,397	42,229	43,258	49,163	49,662	51,060
Total Debt	6,476	6,462	6,484	6,372	6,749	7,660	15,753	14,522	17,038	15,710	16,911
Total Long-Term Debt	6,455	6,444	5,891	6,001	6,287	6,730	14,539	13,406	14,658	13,753	14,548
Net Debt	6,006	6,340	6,215	6,328	6,646	7,388	-17,589	-19,298	16,687	15,197	16,432
Capital Expenditures (CapEx)	815	793	1,031	1,079	1,249	1,293	1,124	1,108	1,826	1,917	2,220
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-383	-355	-240	-288	-475	-230	-265	-196	-22	-137	2.92
Debt-free Net Working Capital (DFNWC)	87	-233	29	-243	-372	-114	-201	137	329	376	137
Net Working Capital (NWC)	65	-252	-564	-614	-834	-1,044	-1,414	-978	-2,051	-1,581	-2,226
Net Nonoperating Expense (NNE)	364	143	16	134	-13	65	-255	-512	-645	220	70
Net Nonoperating Obligations (NNO)	6,006	6,340	6,215	6,328	6,646	7,388	-17,589	-19,298	16,283	14,790	16,432
Total Depreciation and Amortization (D&A)	430	476	525	510	544	611	635	630	1,169	1,319	1,472
Debt-free, Cash-free Net Working Capital to Revenue	-7.90%	-7.65%	-4.61%	-5.37%	-7.91%	-3.80%	-4.24%	-3.01%	-0.23%	-1.35%	0.03%
Debt-free Net Working Capital to Revenue	1.79%	-5.02%	0.55%	-4.54%	-6.20%	-1.89%	-3.21%	2.11%	3.46%	3.73%	1.25%
Net Working Capital to Revenue	1.34%	-5.42%	-10.83%	-11.45%	-13.89%	-17.28%	-22.60%	-15.02%	-21.57%	-15.65%	-20.24%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.69	$2.14	$3.30	$2.73	$3.52	$3.61	$4.20	$3.78	$4.22	$2.76	$3.30
Adjusted Weighted Average Basic Shares Outstanding	798.50M	748M	729.50M	714.50M	694M	677.50M	679.70M	930M	931.30M	933M	916.20M
Adjusted Diluted Earnings per Share	$1.68	$2.13	$3.29	$2.72	$3.50	$3.59	$4.18	$3.77	$4.21	$2.76	$3.29
Adjusted Weighted Average Diluted Shares Outstanding	805M	752.50M	731.50M	716.50M	696.50M	680M	682.80M	932.90M	933.70M	934.60M	917.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	765.11M	731.83M	721.06M	700.21M	683.74M	666.49M	929.71M	930.77M	932.43M	933.71M	897.96M
Normalized Net Operating Profit after Tax (NOPAT)	1,307	1,333	1,927	1,564	1,867	1,981	1,977	2,087	2,327	2,798	3,087
Normalized NOPAT Margin	26.94%	28.75%	37.00%	29.17%	31.10%	32.78%	31.59%	32.05%	24.47%	27.70%	28.07%
Pre Tax Income Margin	29.19%	34.53%	38.11%	35.37%	40.37%	41.53%	45.28%	47.03%	-24.32%	32.81%	36.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.97	5.57	6.28	6.71	8.02	7.99	9.55	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	4.71	3.80	5.13	4.71	5.41	5.52	5.74	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	3.11	3.31	3.54	3.46	4.40	4.39	6.28	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	1.85	1.54	2.38	1.46	1.79	1.92	2.48	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.72%	15.95%	12.89%	17.84%	16.89%	19.11%	17.78%	20.10%	18.02%	19.10%	19.24%
Augmented Payout Ratio	222.86%	91.62%	28.73%	74.37%	63.36%	80.85%	17.78%	20.10%	18.02%	19.10%	114.53%

This table displays calculated financial ratios and metrics derived from Canadian Pacific Kansas City's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	897,958,953.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	897,958,953.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.68
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	46.74%	80.05%	55.17%	9.77%	6.48%	-24.48%	1.52%	3.15%	0.07%	34.37%	0.50%
EBITDA Growth	40.47%	67.79%	49.75%	131.31%	5.74%	-18.06%	6.03%	7.08%	4.70%	35.29%	-0.22%
EBIT Growth	22.57%	56.72%	35.56%	121.87%	3.88%	-15.84%	7.69%	5.58%	7.83%	32.82%	-1.97%
NOPAT Growth	16.60%	43.10%	24.87%	40.10%	4.13%	-13.12%	9.03%	9.31%	6.94%	14.47%	-1.88%
Net Income Growth	-11.05%	-9.24%	-3.36%	-34.10%	7.50%	-9.34%	10.59%	37.30%	6.29%	12.78%	-4.20%
EPS Growth	-35.35%	-32.63%	-3.49%	-33.95%	7.33%	-12.50%	10.05%	37.75%	8.87%	16.67%	-0.13%
Operating Cash Flow Growth	-0.93%	-18.12%	15.08%	34.35%	32.13%	-4.11%	7.25%	12.27%	-9.22%	13.09%	-12.99%
Free Cash Flow Firm Growth	-649.90%	-47,570.99%	-28,228.98%	99.86%	99.06%	101.18%	99.72%	-1,444.68%	-28.75%	-309.02%	-823.71%
Invested Capital Growth	445.09%	412.88%	394.64%	1.58%	2.18%	0.69%	1.66%	3.24%	2.44%	3.77%	3.39%
Revenue Q/Q Growth	2.84%	20.35%	-12.43%	1.28%	-0.24%	-14.65%	17.72%	2.90%	-3.21%	14.60%	-11.95%
EBITDA Q/Q Growth	128.57%	23.24%	-17.70%	8.06%	-3.51%	-4.50%	6.50%	9.12%	-5.66%	23.39%	-21.45%
EBIT Q/Q Growth	119.73%	26.60%	-21.42%	11.41%	-6.27%	2.57%	0.55%	9.22%	-4.27%	26.34%	-25.79%
NOPAT Q/Q Growth	30.40%	38.59%	-29.55%	10.04%	-3.08%	15.64%	-11.59%	10.32%	-5.18%	23.78%	-24.22%
Net Income Q/Q Growth	-42.45%	39.23%	-28.76%	15.44%	-6.12%	17.43%	-13.10%	43.32%	-27.33%	24.60%	-26.19%
EPS Q/Q Growth	-42.17%	3.13%	-23.85%	-14.59%	-6.04%	-15.93%	20.46%	44.75%	-25.73%	25.48%	-25.97%
Operating Cash Flow Q/Q Growth	5.72%	46.02%	-29.56%	23.53%	3.98%	5.97%	-21.22%	29.32%	-15.92%	32.02%	-39.39%
Free Cash Flow Firm Q/Q Growth	-1.06%	0.80%	0.42%	99.86%	-592.55%	224.29%	-123.66%	-658.61%	42.27%	-101.78%	-4.54%
Invested Capital Q/Q Growth	0.15%	1.29%	-0.21%	0.34%	0.74%	-0.18%	0.75%	1.91%	-0.05%	1.11%	0.38%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.52%	75.63%	64.72%	67.39%	67.26%	82.31%	69.35%	71.24%	71.76%	73.04%	68.95%
EBITDA Margin	50.36%	51.57%	48.47%	51.71%	50.01%	55.96%	50.62%	53.68%	52.32%	56.34%	50.26%
Operating Margin	35.13%	38.09%	32.64%	35.17%	33.90%	41.56%	34.70%	36.31%	36.49%	40.81%	33.99%
EBIT Margin	37.29%	39.23%	35.20%	38.72%	36.38%	43.72%	37.34%	39.63%	39.20%	43.21%	36.42%
Profit (Net Income) Margin	23.36%	27.03%	21.99%	25.06%	23.58%	32.45%	23.95%	33.36%	25.05%	27.24%	22.83%
Tax Burden Percent	75.14%	79.82%	74.93%	75.56%	76.16%	84.17%	75.69%	77.56%	75.60%	73.02%	75.45%
Interest Burden Percent	83.37%	86.32%	83.37%	85.66%	85.13%	88.18%	84.76%	108.53%	84.53%	86.31%	83.09%
Effective Tax Rate	24.86%	20.18%	25.07%	24.44%	23.84%	15.83%	24.31%	22.44%	24.40%	26.98%	24.55%
Return on Invested Capital (ROIC)	7.65%	10.00%	8.79%	5.89%	5.79%	7.27%	5.47%	5.84%	5.71%	6.60%	5.65%
ROIC Less NNEP Spread (ROIC-NNEP)	14.59%	16.64%	12.49%	5.65%	5.42%	6.91%	5.07%	6.75%	5.29%	6.10%	5.18%
Return on Net Nonoperating Assets (RNNOA)	-0.54%	-0.82%	-0.70%	2.88%	2.69%	3.25%	2.35%	3.12%	2.53%	2.80%	2.40%
Return on Equity (ROE)	7.11%	9.17%	8.09%	8.77%	8.48%	10.52%	7.82%	8.97%	8.24%	9.40%	8.06%
Cash Return on Invested Capital (CROIC)	-130.89%	-126.69%	-124.15%	4.44%	3.88%	5.07%	4.22%	2.73%	3.59%	2.51%	2.82%
Operating Return on Assets (OROA)	5.39%	6.50%	6.41%	6.87%	6.53%	7.27%	6.23%	6.59%	6.51%	7.69%	6.46%
Return on Assets (ROA)	3.38%	4.48%	4.00%	4.44%	4.23%	5.40%	4.00%	5.54%	4.16%	4.85%	4.05%
Return on Common Equity (ROCE)	7.02%	9.07%	7.99%	8.58%	8.29%	10.30%	7.66%	8.78%	8.07%	9.21%	7.89%
Return on Equity Simple (ROE_SIMPLE)	10.00%	0.00%	9.33%	8.14%	8.12%	0.00%	7.87%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	651	903	636	700	678	784	693	765	725	898	680
NOPAT Margin	26.40%	30.40%	24.46%	26.57%	25.82%	34.98%	26.27%	28.16%	27.59%	29.80%	25.64%
Net Nonoperating Expense Percent (NNEP)	-6.95%	-6.64%	-3.70%	0.25%	0.37%	0.37%	0.40%	-0.91%	0.42%	0.49%	0.47%
Return On Investment Capital (ROIC_SIMPLE)	-	1.84%	-	-	-	1.58%	1.39%	1.50%	1.43%	1.76%	1.32%
Cost of Revenue to Revenue	33.48%	24.37%	35.28%	32.61%	32.74%	17.69%	30.65%	28.76%	28.24%	26.96%	31.05%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	31.39%	37.55%	32.07%	32.22%	33.36%	40.75%	34.65%	34.93%	35.26%	32.23%	34.96%
Earnings before Interest and Taxes (EBIT)	920	1,165	915	1,019	956	980	985	1,076	1,030	1,302	966
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,242	1,531	1,260	1,361	1,314	1,254	1,336	1,458	1,375	1,697	1,333
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.25	2.32	2.60	2.29	2.44	2.03	1.95	2.17	2.08	1.98	2.12
Price to Tangible Book Value (P/TBV)	4.63	4.64	5.16	4.48	4.69	3.83	3.65	4.03	3.97	3.71	3.98
Price to Revenue (P/Rev)	8.39	7.68	7.87	6.88	7.37	6.69	6.46	7.21	6.69	6.03	6.42
Price to Earnings (P/E)	22.52	24.56	27.80	28.07	30.01	26.16	24.81	25.55	23.35	21.96	23.60
Dividend Yield	0.77%	0.72%	0.70%	0.96%	0.88%	1.03%	0.77%	0.72%	0.80%	0.85%	0.84%
Earnings Yield	4.44%	4.07%	3.60%	3.56%	3.33%	3.82%	4.03%	3.91%	4.28%	4.55%	4.24%
Enterprise Value to Invested Capital (EV/IC)	1.80	1.87	2.05	1.85	1.97	1.71	1.65	1.80	1.71	1.65	1.74
Enterprise Value to Revenue (EV/Rev)	10.50	9.51	9.47	8.42	8.86	8.26	8.00	8.79	8.37	7.59	8.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	16.65	17.56	16.08	15.40	16.76	15.78	14.23	15.03
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	22.36	23.67	21.56	20.58	22.48	21.02	18.99	20.14
Enterprise Value to NOPAT (EV/NOPAT)	42.83	38.87	39.67	31.10	32.92	29.82	28.41	30.79	28.85	27.03	28.66
Enterprise Value to Operating Cash Flow (EV/OCF)	25.53	28.86	30.58	25.90	25.92	22.80	21.84	23.49	22.90	21.55	23.39
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	42.05	51.20	33.85	39.46	66.78	48.22	66.86	62.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.56	0.53	0.52	0.50	0.49	0.46	0.46	0.47	0.51	0.50	0.51
Long-Term Debt to Equity	0.52	0.46	0.43	0.42	0.42	0.41	0.43	0.45	0.46	0.43	0.46
Financial Leverage	-0.04	-0.05	-0.06	0.51	0.50	0.47	0.46	0.46	0.48	0.46	0.46
Leverage Ratio	1.93	1.89	1.86	1.89	1.87	1.84	1.83	1.83	1.84	1.82	1.82
Compound Leverage Factor	1.61	1.63	1.55	1.62	1.59	1.62	1.55	1.98	1.56	1.57	1.51
Debt to Total Capital	35.78%	34.66%	34.18%	33.54%	32.71%	31.63%	31.51%	32.08%	33.86%	33.12%	33.90%
Short-Term Debt to Total Capital	2.71%	4.84%	5.86%	5.44%	4.78%	3.94%	2.10%	1.50%	3.26%	4.63%	3.40%
Long-Term Debt to Total Capital	33.07%	29.81%	28.32%	28.11%	27.93%	27.69%	29.40%	30.58%	30.60%	28.49%	30.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.44%	1.42%	1.42%	1.41%	1.40%	1.40%	1.39%	1.36%	1.36%	1.35%	1.34%
Common Equity to Total Capital	62.78%	63.93%	64.40%	65.05%	65.89%	66.97%	67.11%	66.56%	64.77%	65.53%	64.76%
Debt to EBITDA	-12.86	-23.21	-53.22	3.06	2.97	3.03	2.99	3.05	3.16	2.88	2.97
Net Debt to EBITDA	-12.25	-22.73	-50.69	2.91	2.83	2.93	2.82	2.88	3.05	2.80	2.86
Long-Term Debt to EBITDA	-11.89	-19.97	-44.09	2.57	2.53	2.65	2.79	2.91	2.86	2.48	2.67
Debt to NOPAT	8.66	7.32	6.74	5.72	5.56	5.61	5.52	5.60	5.78	5.48	5.67
Net Debt to NOPAT	8.25	7.17	6.42	5.44	5.31	5.43	5.20	5.29	5.57	5.32	5.46
Long-Term Debt to NOPAT	8.01	6.30	5.58	4.80	4.75	4.91	5.15	5.34	5.23	4.71	5.10
Altman Z-Score	1.88	2.01	2.23	2.08	2.25	2.00	1.98	2.13	1.93	1.92	1.99
Noncontrolling Interest Sharing Ratio	1.19%	1.14%	1.13%	2.19%	2.15%	2.10%	2.09%	2.06%	2.07%	2.03%	2.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.70	0.53	0.49	0.51	0.53	0.60	0.81	0.93	0.63	0.49	0.67
Quick Ratio	0.55	0.41	0.38	0.39	0.41	0.48	0.64	0.74	0.49	0.37	0.51
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-38,372	-38,067	-37,906	-52	-362	450	-107	-808	-466	-941	-984
Operating Cash Flow to CapEx	141.38%	196.55%	192.97%	159.72%	172.15%	261.84%	165.14%	182.49%	147.28%	202.49%	148.78%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-249.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	4.93	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	2.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.14	0.17	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.18	0.18
Accounts Receivable Turnover	7.68	8.72	9.50	8.10	7.72	7.23	7.10	7.16	6.92	7.73	7.35
Inventory Turnover	11.11	11.85	13.21	11.17	11.29	9.78	9.68	9.31	9.06	9.20	8.94
Fixed Asset Turnover	0.30	0.34	0.38	0.27	0.28	0.26	0.26	0.26	0.26	0.28	0.28
Accounts Payable Turnover	1.77	1.90	2.20	1.78	1.75	1.55	1.59	1.53	1.47	1.58	1.67
Days Sales Outstanding (DSO)	47.55	41.84	38.41	45.07	47.27	50.51	51.41	50.97	52.78	47.24	49.65
Days Inventory Outstanding (DIO)	32.87	30.79	27.63	32.69	32.34	37.33	37.72	39.21	40.28	39.66	40.83
Days Payable Outstanding (DPO)	206.67	192.30	165.87	205.50	208.85	235.78	229.64	239.31	248.21	230.97	218.84
Cash Conversion Cycle (CCC)	-126.25	-119.67	-99.83	-127.74	-129.24	-147.93	-140.52	-149.13	-155.15	-144.06	-128.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	47,791	48,408	48,308	48,473	48,831	48,742	49,108	50,046	50,023	50,581	50,772
Invested Capital Turnover	0.29	0.33	0.36	0.22	0.22	0.21	0.21	0.21	0.21	0.22	0.22
Increase / (Decrease) in Invested Capital	39,023	38,969	38,542	752	1,040	334	800	1,573	1,192	1,839	1,664
Enterprise Value (EV)	85,999	90,432	98,840	89,844	95,979	83,436	81,111	89,880	85,591	83,451	88,113
Market Capitalization	68,729	73,050	82,156	73,432	79,820	67,546	65,556	73,757	68,380	66,328	70,633
Book Value per Share	$32.77	$33.73	$33.92	$34.37	$35.01	$35.63	$35.94	$36.46	$35.74	$37.14	$37.08
Tangible Book Value per Share	$15.94	$16.90	$17.08	$17.57	$18.25	$18.90	$19.21	$19.66	$18.77	$19.86	$19.77
Total Capital	48,615	49,163	49,106	49,289	49,585	49,662	50,000	50,966	50,657	51,060	51,413
Total Debt	17,396	17,038	16,786	16,533	16,219	15,710	15,754	16,350	17,154	16,911	17,430
Total Long-Term Debt	16,078	14,658	13,906	13,853	13,848	13,753	14,702	15,585	15,502	14,548	15,683
Net Debt	16,572	16,687	15,988	15,718	15,466	15,197	14,861	15,430	16,520	16,432	16,789
Capital Expenditures (CapEx)	515	541	388	580	559	390	487	570	593	570	470
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-76	-22	75	27	11	-137	21	-7.34	-27	2.92	260
Debt-free Net Working Capital (DFNWC)	343	329	459	434	354	376	504	579	268	137	553
Net Working Capital (NWC)	-975	-2,051	-2,421	-2,246	-2,018	-1,581	-547	-186	-1,384	-2,226	-1,193
Net Nonoperating Expense (NNE)	75	100	64	40	59	57	61	-141	67	77	75
Net Nonoperating Obligations (NNO)	16,572	16,283	15,988	15,718	15,466	14,790	14,861	15,430	16,520	16,432	16,789
Total Depreciation and Amortization (D&A)	322	366	345	342	358	274	351	382	345	395	367
Debt-free, Cash-free Net Working Capital to Revenue	-0.93%	-0.23%	0.72%	0.25%	0.10%	-1.35%	0.21%	-0.07%	-0.27%	0.03%	2.36%
Debt-free Net Working Capital to Revenue	4.19%	3.46%	4.40%	4.07%	3.27%	3.73%	4.97%	5.67%	2.62%	1.25%	5.03%
Net Working Capital to Revenue	-11.91%	-21.57%	-23.20%	-21.06%	-18.63%	-15.65%	-5.40%	-1.82%	-13.54%	-20.24%	-10.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.84	$0.64	$0.83	$0.71	$0.67	$0.56	$0.68	$0.98	$0.73	$0.91	$0.67
Adjusted Weighted Average Basic Shares Outstanding	931.50M	931.30M	932.40M	932.80M	933.20M	933M	933.20M	923.80M	910.40M	916.20M	896.80M
Adjusted Diluted Earnings per Share	$0.84	$0.64	$0.83	$0.71	$0.67	$0.56	$0.67	$0.98	$0.73	$0.91	$0.67
Adjusted Weighted Average Diluted Shares Outstanding	933.90M	933.70M	934.40M	934.60M	935.30M	934.60M	934.30M	924.80M	911.40M	917.10M	897.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	931.79M	932.43M	932.70M	933.13M	933.34M	933.71M	930.46M	917.98M	900.83M	897.96M	887.74M
Normalized Net Operating Profit after Tax (NOPAT)	651	903	636	700	678	784	693	765	725	898	680
Normalized NOPAT Margin	26.40%	30.40%	24.46%	26.57%	25.82%	34.98%	26.27%	28.16%	27.59%	29.80%	25.64%
Pre Tax Income Margin	31.09%	33.86%	29.35%	33.17%	30.97%	38.55%	31.65%	43.01%	33.13%	37.30%	30.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	6.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	4.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	3.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	1.63	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.73%	18.02%	18.14%	19.80%	19.79%	19.10%	18.37%	17.92%	17.91%	19.24%	20.18%
Augmented Payout Ratio	17.73%	18.02%	18.14%	19.80%	19.79%	19.10%	18.37%	17.92%	17.91%	114.53%	124.54%

Financials Breakdown Chart

Key Financial Trends

Here are the top trends for Canadian Pacific Kansas City (NYSE: CP) based on the latest four years of quarterly statements provided. The bullets are organized with positive items first, then neutral items, and finally negative items.

Total revenue in Q4 2025 was about $3.01 billion, up from about $2.24 billion in Q4 2024, signaling meaningful top-line growth after the CP-KCS merger integration.
Net income attributable to common shareholders in Q4 2025 was about $820.5 million, with basic and diluted earnings per share (EPS) of $0.91, improving from Q4 2024 where EPS was $0.56 and net income to common was about $728.7 million.
Operating cash flow remained robust in Q4 2025, with net cash from continuing operating activities around $1.15 billion, higher than roughly $1.02 billion in Q4 2024.
Gross margin stayed solid at roughly 73% in Q4 2025 (Gross Profit ≈ $2.20B on revenue ≈ $3.01B), indicating strong profitability on the core transport business.
Earnings per share advanced across the 2025 quarters (Q1 ≈ $0.68; Q2 ≈ $0.98; Q3 ≈ $0.73; Q4 ≈ $0.91), reflecting improving profitability per share through the year.
Total equity remained strong, with the balance sheet showing about $33.5 billion in total equity and noncontrolling interests by mid-2025, indicating solid balance-sheet strength and accumulated earnings growth.
Capital expenditure remains meaningful, with quarterly purchases of property, plant & equipment typically in the range of $0.49–0.60 billion in 2025, underscoring ongoing capacity investments.
Total assets sit in the low-to-mid $60B range across 2025, consistent with continued asset growth from capacity investments and integration activity.
Investing cash flow is consistently negative, with net cash from investing activities around -$0.50B to -$0.62B per quarter in 2025, reflecting ongoing capital expenditures and asset acquisitions.
Long-term debt hovered around $15.5B by mid-2025, contributing to a higher leverage profile alongside total liabilities of about $28.7B and signaling ongoing debt financing activity to support capacity expansion.
Net cash from financing activities was typically negative in 2025 quarters (for example, around -$0.54B to -$0.74B in several quarters), indicating ongoing debt repayments and shareholder returns that reduce cash on hand.

05/05/26 06:31 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Canadian Pacific Kansas City's Financials

When does Canadian Pacific Kansas City's financial year end?

According to the most recent income statement we have on file, Canadian Pacific Kansas City's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Canadian Pacific Kansas City's net income changed over the last 10 years?

Canadian Pacific Kansas City's net income appears to be on an upward trend, with a most recent value of $3.02 billion in 2025, rising from $977.56 million in 2015. The previous period was $2.58 billion in 2024. Check out Canadian Pacific Kansas City's forecast to explore projected trends and price targets.

What is Canadian Pacific Kansas City's operating income?

Canadian Pacific Kansas City's total operating income in 2025 was $4.09 billion, based on the following breakdown:

Total Gross Profit: $7.85 billion
Total Operating Expenses: $3.76 billion

How has Canadian Pacific Kansas City's revenue changed over the last 10 years?

Over the last 10 years, Canadian Pacific Kansas City's total revenue changed from $4.85 billion in 2015 to $11.00 billion in 2025, a change of 126.6%.

How much debt does Canadian Pacific Kansas City have?

Canadian Pacific Kansas City's total liabilities were at $28.53 billion at the end of 2025, a 5.7% increase from 2024, and a 165.9% increase since 2015.

How much cash does Canadian Pacific Kansas City have?

In the past 10 years, Canadian Pacific Kansas City's cash and equivalents has ranged from $44.70 million in 2018 to $513.19 million in 2024, and is currently $134.19 million as of their latest financial filing in 2025.

How has Canadian Pacific Kansas City's book value per share changed over the last 10 years?

Over the last 10 years, Canadian Pacific Kansas City's book value per share changed from 20.87 in 2015 to 37.14 in 2025, a change of 77.9%.

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Financial statements for NYSE:CP last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Canadian Pacific Kansas City (CP) Financials

Financials Breakdown Chart

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Canadian Pacific Kansas City (CP) Financials

Annual Income Statements for Canadian Pacific Kansas City

Quarterly Income Statements for Canadian Pacific Kansas City

Annual Cash Flow Statements for Canadian Pacific Kansas City

Quarterly Cash Flow Statements for Canadian Pacific Kansas City

Annual Balance Sheets for Canadian Pacific Kansas City

Quarterly Balance Sheets for Canadian Pacific Kansas City

Annual Metrics And Ratios for Canadian Pacific Kansas City

Quarterly Metrics And Ratios for Canadian Pacific Kansas City

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Canadian Pacific Kansas City's Financials

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