Financial Statements — EMA
Balance Sheet
(in billions CAD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | -- | -- | -- | -- | -- | -- | 0.27 |
| Short-term Investments | 0.01 | 0.01 | 0.01 | 0.01 | 0.16 | -- | 0.00 |
| Inventory | 0.82 | 0.78 | 0.79 | 0.77 | 0.54 | 0.45 | 0.47 |
| Total Current Assets | 4.39 | 3.69 | 3.71 | 4.90 | 3.14 | 2.18 | 2.49 |
| Property, Plant & Equipment | 27.41 | 26.17 | 24.38 | 23.00 | 20.35 | 19.54 | 18.17 |
| Goodwill | 5.58 | 5.86 | 5.87 | 6.01 | 5.70 | 5.72 | 5.84 |
| Total Non-current Assets* | 40.43 | 39.26 | 35.77 | 34.85 | 31.11 | 29.06 | 29.36 |
| Total Assets | 44.82 | 42.95 | 39.48 | 39.74 | 34.24 | 31.23 | 31.84 |
| Accounts Payable | 1.95 | 1.99 | 1.45 | 2.03 | 1.49 | 1.15 | 1.12 |
| Short-term Debt | 1.81 | 1.40 | 1.43 | 2.73 | 1.74 | 1.63 | 1.54 |
| Total Current Liabilities | 6.63 | 5.12 | 4.54 | 7.29 | 4.88 | 4.88 | 4.17 |
| Long-term Debt | 18.45 | 18.17 | 17.69 | 15.74 | 14.20 | 12.34 | 13.68 |
| Total Non-current Liabilities | 24.79 | 24.55 | 22.85 | 21.01 | 19.22 | 17.12 | 19.08 |
| Total Liabilities* | 31.44 | 29.67 | 27.41 | 28.32 | 24.13 | 22.03 | 23.28 |
| Retained Earnings | 1.61 | 1.47 | 1.80 | 1.58 | 1.35 | 1.50 | 1.17 |
| Total Stockholder Equity | 13.38 | 13.28 | 12.07 | 11.43 | 10.12 | 9.20 | 8.57 |
* Derived from reported values
Income Statement
(in billions CAD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 8.78 | 7.20 | 7.56 | 7.59 | 5.77 | 5.51 | 6.11 |
| Operating Income | 1.98 | 1.08 | 1.79 | 1.63 | 0.93 | 1.15 | 1.34 |
| Pretax Income | 1.17 | 0.41 | 1.17 | 1.19 | 0.56 | 1.33 | 0.77 |
| Tax Provision | 0.08 | (0.16) | 0.13 | 0.19 | (0.01) | 0.34 | 0.06 |
| Net Income | 1.09 | 0.57 | 1.05 | 1.01 | 0.56 | 0.98 | 0.71 |
| Basic EPS | 3.39 | 1.71 | 3.57 | 3.56 | 1.98 | 3.78 | 2.76 |
| Diluted EPS | 3.38 | 1.71 | 3.57 | 3.55 | 1.98 | 3.78 | 2.76 |
Cash Flow Statement
(in billions CAD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | 1.80 | 2.65 | 2.24 | 0.91 | 1.19 | 1.64 | 1.53 |
| Capital Expenditures | 3.53 | 3.15 | 2.94 | 2.60 | 2.36 | 2.62 | 2.50 |
| Free Cash Flow* | (1.73) | (0.50) | (0.70) | (1.68) | (1.17) | (0.99) | (0.97) |
| Investing Cash Flow | (3.48) | (2.22) | (2.92) | (2.57) | (2.33) | (1.22) | (1.62) |
| Financing Cash Flow | 1.84 | (0.82) | 0.94 | 1.56 | 1.31 | (0.37) | 0.01 |
* Derived from reported values
Dividends Per Share
(USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Dividends Per Share | 2.91 | 2.88 | 2.79 | 2.68 | 2.58 | 2.48 | 2.38 |
