Canadian Pacific Kansas City Limited
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Total Revenue | 15.1B | 14.5B | 12.6B | 8.8B | 8.0B |
| Operating Revenue | 15.1B | 14.5B | 12.6B | 8.8B | 8.0B |
| Cost Of Revenue | 9.5B | 9.4B | 8.2B | 5.5B | 4.8B |
| Gross Profit | 5.6B | 5.2B | 4.4B | 3.3B | 3.2B |
| Selling General And Administration | -- | -- | -- | -- | 553.0M |
| General And Administrative Expense | -- | -- | -- | -- | 553.0M |
| Other Operating Expenses | -- | -- | 1.9B | 1.2B | 1.2B |
| Operating Expense | -- | -- | 2.0B | 1.3B | 1.2B |
| Operating Income | 5.6B | 5.2B | 4.4B | 3.3B | 3.2B |
| EBIT | 6.4B | 5.6B | -2.3B | 4.8B | 4.1B |
| Interest Expense | 876.0M | 801.0M | 771.0M | 652.0M | 440.0M |
| Interest Expense Non Operating | 876.0M | 801.0M | 771.0M | 652.0M | 440.0M |
| Interest Income | -- | -- | -- | -- | 6.0M |
| Interest Income Non Operating | -- | -- | -- | -- | 6.0M |
| Net Interest Income | -876.0M | -801.0M | -771.0M | -652.0M | -440.0M |
| Other Income Expense | 749.0M | 394.0M | -6.7B | 1.5B | 854.0M |
| Other Non Operating Income Expenses | 402.0M | 370.0M | 308.0M | 394.0M | 386.0M |
| Special Income Charges | 0.00 | 22.0M | -7.2B | 0.00 | 598.0M |
| Restructuring And Mergern Acquisition | 0.00 | 0.00 | 6.0M | 0.00 | -598.0M |
| Gain On Sale Of Security | 347.0M | 2.0M | -27.0M | -- | 11.0M |
| Earnings From Equity Interest | 0.00 | 0.00 | 230.0M | 1.1B | -141.0M |
| Pretax Income | 5.5B | 4.8B | -3.1B | 4.1B | 3.6B |
| Tax Provision | 1.3B | 1.1B | -7.0B | 628.0M | 768.0M |
| Tax Effect Of Unusual Items | 85.2M | 5.3M | -2.9B | 0.00 | 129.2M |
| Net Income From Continuing And Discontinued Operation | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| Net Income From Continuing Operation Net Minority Interest | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| Net Income Including Noncontrolling Interests | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| Minority Interests | 4.0M | 5.0M | 4.0M | 0.00 | 0.00 |
| Net Income Common Stockholders | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| Net Income | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| EBITDA | 8.4B | 7.5B | -739.0M | 5.7B | 4.9B |
| Normalized EBITDA | 8.0B | 7.4B | 6.5B | 5.7B | 4.3B |
| Reconciled Depreciation | 2.0B | 1.9B | 1.5B | 853.0M | 811.0M |
| Basic EPS | 4.52 | 3.98 | 4.22 | 3.78 | -- |
| Diluted EPS | 4.51 | 3.98 | 4.21 | 3.77 | -- |
| Basic Average Shares | 916.2M | 933.0M | 931.3M | 930.0M | -- |
| Diluted Average Shares | 917.1M | 934.6M | 933.7M | 932.9M | -- |
| Total Unusual Items | 347.0M | 24.0M | -7.2B | 0.00 | 609.0M |
| Total Unusual Items Excluding Goodwill | 347.0M | 24.0M | -7.2B | 0.00 | 609.0M |
| Tax Rate For Calcs | 0.25 | 0.22 | 0.40 | 0.15 | 0.21 |
| Normalized Income | 3.9B | 3.7B | 8.3B | 3.5B | 2.4B |
| Diluted NI Availto Com Stockholders | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| Gain On Sale Of Business | 0.00 | 0.00 | -7.2B | 0.00 | 0.00 |
| Gain On Sale Of Ppe | -- | -- | 3.0M | 24.0M | 89.0M |
| Net Income Continuous Operations | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| Net Non Operating Interest Income Expense | -876.0M | -801.0M | -771.0M | -652.0M | -440.0M |
| Other Gand A | -- | -- | -- | -- | 553.0M |
| Other Special Charges | -- | -22.0M | -- | 103.0M | 125.0M |
| Other Taxes | -- | -- | 139.0M | 133.0M | 128.0M |
| Reconciled Cost Of Revenue | 9.5B | 9.4B | 8.2B | 5.5B | 4.8B |
| Rent Expense Supplemental | 408.0M | 347.0M | 277.0M | 140.0M | 121.0M |
| Total Expenses | 9.5B | 9.4B | 8.2B | 5.5B | 4.8B |
| Total Operating Income As Reported | 5.6B | 5.2B | 4.4B | 3.3B | 3.2B |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 184.0M | 739.0M | 464.0M | 451.0M | 69.0M |
| Cash Cash Equivalents And Short Term Investments | 184.0M | 739.0M | 464.0M | 451.0M | 69.0M |
| Accounts Receivable | 2.0B | 2.0B | 1.9B | 1.0B | 819.0M |
| Receivables | 2.0B | 2.0B | 1.9B | 1.0B | 819.0M |
| Inventory | 502.0M | 457.0M | 400.0M | 284.0M | 235.0M |
| Other Current Assets | 224.0M | 220.0M | 251.0M | 138.0M | 216.0M |
| Current Assets | 2.9B | 3.4B | 3.0B | 1.9B | 1.4B |
| Gross PPE | 66.2B | 65.9B | 60.4B | 31.9B | 30.1B |
| Accumulated Depreciation | -12.3B | -11.4B | -10.0B | -9.3B | -8.7B |
| Net PPE | 54.0B | 54.5B | 50.3B | 22.7B | 21.5B |
| Goodwill | 18.4B | 19.4B | 17.7B | 344.0M | 328.0M |
| Goodwill And Other Intangible Assets | 23.1B | 24.4B | 22.5B | 386.0M | 371.0M |
| Other Intangible Assets | 4.7B | 5.0B | 4.7B | 42.0M | 43.0M |
| Investments And Advances | 473.0M | 586.0M | 533.0M | 45.3B | 42.5B |
| Long Term Equity Investment | -- | -- | 0.00 | 45.1B | 42.3B |
| Other Investments | 473.0M | 586.0M | 533.0M | 223.0M | 209.0M |
| Other Non Current Assets | 312.0M | 304.0M | 235.0M | 153.0M | 132.0M |
| Total Non Current Assets | 83.0B | 84.4B | 76.9B | 71.6B | 66.8B |
| Total Assets | 85.9B | 87.7B | 79.9B | 73.5B | 68.2B |
| Current Debt | 3.2B | 2.8B | 3.1B | 1.5B | 1.6B |
| Current Debt And Capital Lease Obligation | 3.4B | 2.9B | 3.2B | 1.6B | 1.6B |
| Accounts Payable | 682.0M | 768.0M | 680.0M | 503.0M | 432.0M |
| Payables | 1.5B | 1.4B | 1.2B | 930.0M | 823.0M |
| Payables And Accrued Expenses | 2.5B | 2.6B | 2.3B | 1.5B | 1.4B |
| Current Accrued Expenses | 1.0B | 1.1B | 1.0B | 568.0M | 552.0M |
| Current Deferred Revenue | -- | -- | -- | -- | 34.0M |
| Other Current Liabilities | -- | -- | 60.0M | -- | -- |
| Current Liabilities | 6.0B | 5.7B | 5.7B | 3.2B | 3.2B |
| Long Term Debt | 19.9B | 19.8B | 19.4B | 18.1B | 18.6B |
| Long Term Debt And Capital Lease Obligation | 20.2B | 20.1B | 19.6B | 18.3B | 18.8B |
| Long Term Capital Lease Obligation | 299.0M | 254.0M | 242.0M | 202.0M | 224.0M |
| Other Non Current Liabilities | 108.0M | 118.0M | 110.0M | 68.0M | 64.0M |
| Total Non Current Liabilities Net Minority Interest | 33.1B | 33.2B | 31.8B | 31.4B | 31.2B |
| Total Liabilities Net Minority Interest | 39.1B | 38.9B | 37.5B | 34.6B | 34.3B |
| Common Stock | 24.8B | 25.7B | 25.6B | 25.5B | 25.5B |
| Capital Stock | 24.8B | 25.7B | 25.6B | 25.5B | 25.5B |
| Additional Paid In Capital | 105.0M | 94.0M | 88.0M | 78.0M | 66.0M |
| Retained Earnings | 19.8B | 19.4B | 16.4B | 13.2B | 10.4B |
| Gains Losses Not Affecting Retained Earnings | 1.2B | 2.7B | -618.0M | 91.0M | -2.1B |
| Other Equity Adjustments | 1.2B | 2.7B | -618.0M | 91.0M | -2.1B |
| Common Stock Equity | 45.9B | 47.9B | 41.5B | 38.9B | 33.8B |
| Stockholders Equity | 45.9B | 47.9B | 41.5B | 38.9B | 33.8B |
| Total Equity Gross Minority Interest | 46.8B | 48.9B | 42.4B | 38.9B | 33.8B |
| Minority Interest | 948.0M | 998.0M | 919.0M | 0.00 | -- |
| Total Capitalization | 65.8B | 67.7B | 60.8B | 57.0B | 52.4B |
| Net Tangible Assets | 22.8B | 23.5B | 19.0B | 38.5B | 33.5B |
| Tangible Book Value | 22.8B | 23.5B | 19.0B | 38.5B | 33.5B |
| Working Capital | -3.1B | -2.3B | -2.7B | -1.3B | -1.8B |
| Invested Capital | 69.1B | 70.5B | 64.0B | 58.5B | 54.0B |
| Total Debt | 23.6B | 23.0B | 22.8B | 19.9B | 20.4B |
| Net Debt | 23.0B | 21.9B | 22.0B | 19.2B | 20.1B |
| Share Issued | 897.6M | 933.5M | 932.1M | 930.5M | 929.7M |
| Ordinary Shares Number | 897.6M | 933.5M | 932.1M | 930.5M | 929.7M |
| Allowance For Doubtful Accounts Receivable | -117.0M | -98.0M | -89.0M | -41.0M | -34.0M |
| Buildings And Improvements | 2.0B | 1.9B | 1.7B | 1.1B | 1.0B |
| Capital Lease Obligations | 410.0M | 366.0M | 344.0M | 270.0M | 283.0M |
| Current Capital Lease Obligation | 111.0M | 112.0M | 102.0M | 68.0M | 59.0M |
| Current Deferred Liabilities | -- | -- | -- | -- | 34.0M |
| Current Provisions | 78.0M | 78.0M | 69.0M | 53.0M | 49.0M |
| Defined Pension Benefit | 5.1B | 4.6B | 3.3B | 3.1B | 2.3B |
| Dividends Payable | 204.0M | 177.0M | 177.0M | 177.0M | 177.0M |
| Employee Benefits | 655.0M | 725.0M | 742.0M | 663.0M | 843.0M |
| Gross Accounts Receivable | 2.1B | 2.1B | 2.0B | 1.1B | 853.0M |
| Interest Payable | 195.0M | 167.0M | 162.0M | 143.0M | 141.0M |
| Investments In Other Ventures Under Equity Method | -- | -- | -- | 45.1B | 42.3B |
| Investmentsin Subsidiariesat Cost | -- | -- | 0.00 | 45.1B | 42.3B |
| Land And Improvements | 3.7B | 3.8B | 3.5B | 964.0M | -- |
| Long Term Provisions | 218.0M | 231.0M | 200.0M | 71.0M | 68.0M |
| Machinery Furniture Equipment | -- | -- | -- | -- | 603.0M |
| Non Current Deferred Liabilities | 11.9B | 12.1B | 11.1B | 12.3B | 11.4B |
| Non Current Deferred Revenue | 22.0M | 20.0M | 16.0M | 39.0M | 47.0M |
| Non Current Deferred Taxes Liabilities | 11.8B | 12.0B | 11.1B | 12.2B | 11.4B |
| Non Current Pension And Other Postretirement Benefit Plans | 537.0M | 548.0M | 581.0M | 538.0M | 718.0M |
| Other Current Borrowings | 3.2B | 2.8B | 3.1B | 1.5B | 1.6B |
| Other Payable | 114.0M | 121.0M | 131.0M | 73.0M | 50.0M |
| Other Properties | 51.4B | 51.5B | 47.0B | 24.8B | 24.3B |
| Pensionand Other Post Retirement Benefit Plans Current | 73.0M | 58.0M | 50.0M | 84.0M | 126.0M |
| Restricted Cash | -- | -- | -- | 0.00 | 13.0M |
| Total Tax Payable | 459.0M | 379.0M | 255.0M | 177.0M | 164.0M |
| Treasury Shares Number | -- | -- | 0.00 | -- | -- |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | 5.3B | 5.3B | 4.1B | 4.1B | 3.7B |
| Cash Flow From Continuing Operating Activities | 5.3B | 5.3B | 4.1B | 4.1B | 3.7B |
| Depreciation And Amortization | 2.0B | 1.9B | 1.5B | 853.0M | 811.0M |
| Depreciation Amortization Depletion | 2.0B | 1.9B | 1.5B | 853.0M | 811.0M |
| Deferred Tax | 171.0M | 28.0M | -7.9B | 136.0M | 242.0M |
| Deferred Income Tax | 171.0M | 28.0M | -7.9B | 136.0M | 242.0M |
| Change In Working Capital | -196.0M | 24.0M | -308.0M | -92.0M | -66.0M |
| Changes In Account Receivables | 32.0M | -133.0M | -317.0M | -147.0M | 32.0M |
| Change In Receivables | 32.0M | -133.0M | -317.0M | -147.0M | 32.0M |
| Change In Inventory | -53.0M | -36.0M | 1.0M | -27.0M | -14.0M |
| Change In Payables And Accrued Expense | -271.0M | 202.0M | 57.0M | 95.0M | -108.0M |
| Change In Other Current Assets | 96.0M | -9.0M | -49.0M | -13.0M | 24.0M |
| Other Non Cash Items | -110.0M | -79.0M | 60.0M | -67.0M | -36.0M |
| Capital Expenditure | -3.1B | -2.9B | -2.5B | -1.6B | -1.5B |
| Purchase Of PPE | -3.1B | -2.9B | -2.5B | -1.6B | -1.5B |
| Net PPE Purchase And Sale | -3.1B | -2.8B | -2.4B | -1.5B | -1.4B |
| Purchase Of Business | -- | -- | 0.00 | 0.00 | -12.3B |
| Sale Of Business | 493.0M | 0.00 | 298.0M | 0.00 | 0.00 |
| Purchase Of Investment | -- | 0.00 | -267.0M | 0.00 | 0.00 |
| Sale Of Investment | 0.00 | 0.00 | 274.0M | 0.00 | 0.00 |
| Net Investment Purchase And Sale | 0.00 | 0.00 | 274.0M | 0.00 | 0.00 |
| Investing Cash Flow | -2.7B | -2.8B | -2.2B | -1.5B | -13.7B |
| Cash Flow From Continuing Investing Activities | -2.7B | -2.8B | -2.2B | -1.5B | -13.7B |
| Issuance Of Debt | 3.1B | 713.0M | 1.1B | 0.00 | 11.3B |
| Repayment Of Debt | -1.6B | -2.3B | -2.4B | -1.6B | -359.0M |
| Net Issuance Payments Of Debt | 1.5B | -1.6B | -1.3B | -1.6B | 10.5B |
| Issuance Of Capital Stock | 73.0M | 69.0M | 69.0M | 32.0M | 25.0M |
| Repurchase Of Capital Stock | -3.9B | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Common Stock Issuance | -3.9B | 69.0M | 69.0M | 32.0M | 25.0M |
| Common Stock Dividend Paid | -796.0M | -709.0M | -707.0M | -707.0M | -507.0M |
| Common Stock Payments | -3.9B | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -3.1B | -2.3B | -2.0B | -2.3B | 9.9B |
| Cash Flow From Continuing Financing Activities | -3.1B | -2.3B | -2.0B | -2.3B | 9.9B |
| Effect Of Exchange Rate Changes | -53.0M | 54.0M | -7.0M | 20.0M | 41.0M |
| Changes In Cash | -502.0M | 221.0M | 20.0M | 349.0M | -106.0M |
| Beginning Cash Position | 739.0M | 464.0M | 451.0M | 82.0M | 147.0M |
| End Cash Position | 184.0M | 739.0M | 464.0M | 451.0M | 82.0M |
| Free Cash Flow | 2.2B | 2.4B | 1.6B | 2.6B | 2.2B |
| Income Tax Paid Supplemental Data | 1.2B | 958.0M | 906.0M | 408.0M | 552.0M |
| Interest Paid Supplemental Data | 863.0M | 814.0M | 825.0M | 641.0M | 426.0M |
| Cash Dividends Paid | -796.0M | -709.0M | -707.0M | -707.0M | -507.0M |
| Common Stock Issuance | 73.0M | 69.0M | 69.0M | 32.0M | 25.0M |
| Dividend Received Cfo | 0.00 | 0.00 | 300.0M | 1.2B | 0.00 |
| Earnings Losses From Equity Investments | 0.00 | 0.00 | 6.9B | -1.1B | 141.0M |
| Gain Loss On Investment Securities | -333.0M | -- | -- | -- | -- |
| Long Term Debt Issuance | 3.1B | 439.0M | 1.1B | 0.00 | 11.3B |
| Long Term Debt Payments | -1.3B | -2.3B | -2.4B | -1.2B | -359.0M |
| Net Business Purchase And Sale | 493.0M | 0.00 | 298.0M | 0.00 | -12.3B |
| Net Foreign Currency Exchange Gain Loss | -- | -- | 0.00 | 0.00 | -7.0M |
| Net Income From Continuing Operations | 4.1B | 3.7B | 3.9B | 3.5B | 2.9B |
| Net Long Term Debt Issuance | 1.8B | -1.9B | -1.3B | -1.2B | 10.9B |
| Net Other Financing Charges | -8.0M | 2.0M | -17.0M | -- | -75.0M |
| Net Other Investing Changes | -76.0M | 3.0M | -292.0M | 3.0M | 5.0M |
| Net Short Term Debt Issuance | -278.0M | 274.0M | 0.00 | -415.0M | -454.0M |
| Operating Gains Losses | -700.0M | -305.0M | 6.6B | -1.4B | -115.0M |
| Pension And Employee Benefit Expense | -367.0M | -305.0M | -306.0M | -288.0M | -249.0M |
| Sale Of PPE | 58.0M | 64.0M | 57.0M | 58.0M | 96.0M |
| Short Term Debt Issuance | -- | 274.0M | 0.00 | 0.00 | 0.00 |
| Short Term Debt Payments | -278.0M | -- | -- | -415.0M | -454.0M |
| Taxes Refund Paid | -12.0M | -12.0M | -135.0M | 0.00 | 0.00 |