CP FY 2025 Earnings Report — Canadian Pacific Kansas City Ltd. Revenue & Financial Results | Market Cap Arena

Canadian Pacific Kansas City Ltd.CP

FY 2025 Earnings

Reported February 26, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$11.0B	—	$10.6B	—	3.7%
Op. Income	$4.1B	—	$3.8B	—	8.3%
Gross Margin	52.2%	—	51.9%	—	0.3pp
Net Margin	27.5%	—	25.6%	—	1.9pp
EPS (Diluted)	$3.30	—	$2.91	—	13.3%
Free Cash Flow	$1.6B	—	$1.8B	—	-9.9%

Revenue Flow

Item	Amount
REVENUE	$11.0B
Cost of Revenue	$5.3B
GROSS PROFIT	$5.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$6.9B
OPERATING INCOME	$4.1B
Interest Income	$0
Interest Expense	$640M
Other Income/Expenses	-$93M
INCOME BEFORE TAX	$4.0B
Income Tax Expense	$982M
Net Income from Continuing Ops	$3.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$1.5B
EBIT	$4.6B
EBITDA	$6.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$11.0B
Cost of Revenue	$5.3B
GROSS PROFIT	$5.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$6.9B
OPERATING INCOME	$4.1B
Interest Income	$0
Interest Expense	$640M
Other Income/Expenses	-$93M
INCOME BEFORE TAX	$4.0B
Income Tax Expense	$982M
Net Income from Continuing Ops	$3.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$1.5B
EBIT	$4.6B
EBITDA	$6.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$3.0B
Depreciation & Amortization	$1.5B
Stock-Based Compensation	$0
Deferred Income Tax	$125M
Other Non-Cash Items	-$601M
Change in Working Capital	-$143M
OPERATING CASH FLOW	$3.9B
Capital Expenditure	-$2.3B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$403M
Other Investing Activities	-$56M
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	$1.1B
Common Stock Repurchased	-$2.9B
Common Dividends Paid	-$582M
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$2.3B
FREE CASH FLOW	$1.6B
Net Change in Cash	-$406M

Balance Sheet

Item	Amount
Cash & Equivalents	$134M
Short-Term Investments	$0
Net Receivables	$1.5B
Inventory	$367M
Other Current Assets	$164M
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$40.4B
Goodwill	$13.5B
Intangible Assets	$2.1B
Long-Term Investments	$346M
Tax Assets	$0
Other Non-Current Assets	$4.3B
TOTAL NON-CURRENT ASSETS	$60.7B
TOTAL ASSETS	$62.8B
Account Payables	$2.0B
Short-Term Debt	$2.4B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$14.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$8.6B
Other Non-Current Liabilities	$988M
TOTAL NON-CURRENT LIABILITIES	$24.2B
TOTAL LIABILITIES	$28.6B
Common Stock	$18.1B
Additional Paid-In Capital	$77M
Retained Earnings	$14.5B
Treasury Stock	$0
Accum. Other Comp. Income	$905M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$33.5B
Minority Interest	$693M
TOTAL EQUITY	$34.2B
TOTAL LIABILITIES & EQUITY	$62.8B
Total Debt	$16.9B
Net Debt	$16.8B