Element Fleet Management Corp.
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 | 2.3B | 2.2B | 1.9B | 1.4B | 1.3B |
| Operating Revenue | 2.3B | 2.2B | 1.9B | 1.4B | 1.3B |
| Cost Of Revenue | 1.5B | 1.4B | 1.2B | 847.8M | 780.8M |
| Gross Profit | 869.3M | 784.0M | 687.3M | 596.2M | 523.1M |
| Selling General And Administration | 192.4M | 180.1M | 155.5M | 115.1M | 100.8M |
| General And Administrative Expense | 192.4M | 180.1M | 155.5M | 115.1M | 100.8M |
| Depreciation And Amortization In Income Statement | 151.4M | 88.2M | 79.3M | 70.9M | 67.3M |
| Operating Expense | 343.7M | 268.3M | 234.8M | 186.0M | 168.1M |
| Operating Income | 525.5M | 515.7M | 452.5M | 410.2M | 354.9M |
| EBIT | 529.3M | 515.1M | 452.0M | 407.7M | 361.8M |
| Interest Expense | 0.00 | 1.5M | 3.0M | 2.8M | 2.8M |
| Interest Expense Non Operating | 0.00 | 1.5M | 3.0M | 2.8M | 2.8M |
| Net Interest Income | 0.00 | -1.5M | -3.0M | -2.8M | -2.8M |
| Other Income Expense | 3.8M | -588,000 | -492,000 | -2.5M | 6.8M |
| Special Income Charges | -- | -- | -- | -- | 0.00 |
| Restructuring And Mergern Acquisition | -- | -- | -- | -- | 0.00 |
| Gain On Sale Of Security | 3.8M | -588,000 | -492,000 | -2.5M | 6.8M |
| Pretax Income | 529.3M | 513.6M | 448.9M | 404.9M | 359.0M |
| Tax Provision | 250.2M | 126.4M | 103.3M | 103.1M | 79.7M |
| Tax Effect Of Unusual Items | 567,150 | -144,745 | -113,258 | -628,781 | 1.5M |
| Net Income From Continuing And Discontinued Operation | 279.1M | 387.1M | 345.6M | 301.8M | 279.2M |
| Net Income From Continuing Operation Net Minority Interest | 279.1M | 387.1M | 345.6M | 301.8M | 279.2M |
| Net Income Including Noncontrolling Interests | 279.1M | 387.1M | 345.6M | 301.8M | 279.2M |
| Net Income Common Stockholders | 279.1M | 379.9M | 328.0M | 281.1M | 253.8M |
| Net Income | 279.1M | 387.1M | 345.6M | 301.8M | 279.2M |
| EBITDA | 1.2B | 1.1B | 1.0B | 852.2M | 782.2M |
| Normalized EBITDA | 1.2B | 1.1B | 1.0B | 854.6M | 775.4M |
| Reconciled Depreciation | 670.4M | 611.6M | 562.8M | 444.4M | 420.5M |
| Basic EPS | -- | 0.96 | 0.84 | 0.71 | 0.60 |
| Diluted EPS | -- | 0.95 | 0.82 | 0.69 | 0.59 |
| Basic Average Shares | -- | 396.9M | 390.3M | 396.9M | 423.1M |
| Diluted Average Shares | -- | 404.2M | 405.2M | 413.3M | 439.5M |
| Total Unusual Items | 3.8M | -588,000 | -492,000 | -2.5M | 6.8M |
| Total Unusual Items Excluding Goodwill | 3.8M | -588,000 | -492,000 | -2.5M | 6.8M |
| Tax Rate For Calcs | 0.15 | 0.25 | 0.23 | 0.25 | 0.22 |
| Normalized Income | 275.9M | 387.6M | 346.0M | 303.7M | 273.9M |
| Amortization | 31.3M | 28.7M | 27.9M | 26.9M | 27.7M |
| Amortization Of Intangibles Income Statement | 31.3M | 28.7M | 27.9M | 26.9M | 27.7M |
| Average Dilution Earnings | 0.00 | 2.4M | 4.9M | 4.7M | 5.1M |
| Depreciation Amortization Depletion Income Statement | 151.4M | 88.2M | 79.3M | 70.9M | 67.3M |
| Depreciation Income Statement | 120.1M | 59.4M | 51.3M | 44.1M | 39.6M |
| Diluted NI Availto Com Stockholders | 279.1M | 382.3M | 332.8M | 285.9M | 258.9M |
| Gain On Sale Of Ppe | -- | -- | -- | -- | 0.00 |
| Net Income Continuous Operations | 279.1M | 387.1M | 345.6M | 301.8M | 279.2M |
| Net Non Operating Interest Income Expense | 0.00 | -1.5M | -3.0M | -2.8M | -2.8M |
| Other Gand A | 152.8M | 136.7M | 119.1M | 92.0M | 81.9M |
| Preferred Stock Dividends | -- | 7.2M | 17.6M | 20.7M | 25.4M |
| Reconciled Cost Of Revenue | 931.8M | 897.6M | 740.9M | 474.3M | 427.7M |
| Salaries And Wages | 39.5M | 43.4M | 36.4M | 23.1M | 18.9M |
| Total Expenses | 1.8B | 1.7B | 1.5B | 1.0B | 948.9M |
| 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 | 159.2M | 128.8M | 96.4M | 50.7M | 35.5M |
| Cash Cash Equivalents And Short Term Investments | 159.2M | 128.8M | 96.4M | 50.7M | 35.5M |
| Cash Financial | 159.2M | 128.8M | 96.4M | 50.7M | 35.5M |
| Accounts Receivable | 1.4B | 1.1B | 852.5M | 750.5M | 638.7M |
| Receivables | 8.6B | 7.8B | 7.4B | 6.1B | 6.0B |
| Current Assets | 9.1B | 8.2B | 7.8B | 6.5B | 6.3B |
| Gross PPE | 4.4B | 3.8B | 4.0B | 3.2B | 2.7B |
| Accumulated Depreciation | -1.4B | -1.2B | -1.3B | -1.0B | -848.5M |
| Net PPE | 3.0B | 2.5B | 2.7B | 2.1B | 1.9B |
| Goodwill | 1.1B | 1.0B | 957.9M | 954.2M | 957.6M |
| Goodwill And Other Intangible Assets | 1.7B | 1.7B | 1.6B | 1.6B | 1.6B |
| Other Intangible Assets | 615.2M | 642.5M | 638.4M | 637.1M | 651.0M |
| Total Non Current Assets | 4.8B | 4.5B | 4.7B | 4.1B | 3.8B |
| Total Assets | 13.9B | 12.7B | 12.4B | 10.6B | 10.2B |
| Current Debt | -- | -- | -- | 285.2M | -- |
| Current Debt And Capital Lease Obligation | -- | -- | -- | 285.2M | -- |
| Payables And Accrued Expenses | 1.2B | 1.3B | 1.2B | 1.1B | 946.3M |
| Current Liabilities | 1.2B | 1.3B | 1.2B | 1.4B | 946.3M |
| Long Term Debt | 9.7B | 8.5B | 8.1B | 6.4B | 6.4B |
| Long Term Debt And Capital Lease Obligation | 9.7B | 8.5B | 8.1B | 6.4B | 6.4B |
| Total Non Current Liabilities Net Minority Interest | 9.9B | 8.6B | 8.3B | 6.5B | 6.5B |
| Total Liabilities Net Minority Interest | 11.2B | 9.9B | 9.5B | 7.8B | 7.5B |
| Common Stock | 2.2B | 2.3B | 2.1B | 2.1B | 2.3B |
| Capital Stock | 2.2B | 2.3B | 2.3B | 2.4B | 2.7B |
| Additional Paid In Capital | -- | -- | -- | 0.00 | 0.00 |
| Retained Earnings | 687.3M | 650.4M | 424.6M | 95.3M | -17.7M |
| Gains Losses Not Affecting Retained Earnings | -204.0M | -140.1M | 220.0M | 224.5M | -3.0M |
| Common Stock Equity | 2.7B | 2.8B | 2.8B | 2.4B | 2.3B |
| Stockholders Equity | 2.7B | 2.8B | 2.9B | 2.7B | 2.7B |
| Total Equity Gross Minority Interest | 2.7B | 2.8B | 2.9B | 2.7B | 2.7B |
| Total Capitalization | 12.4B | 11.2B | 11.1B | 9.1B | 9.1B |
| Net Tangible Assets | 1.0B | 1.1B | 1.3B | 1.1B | 1.1B |
| Tangible Book Value | 1.0B | 1.1B | 1.2B | 851.9M | 696.5M |
| Working Capital | 7.8B | 6.8B | 6.6B | 5.1B | 5.4B |
| Invested Capital | 12.4B | 11.2B | 10.9B | 9.1B | 8.7B |
| Total Debt | 9.7B | 8.5B | 8.1B | 6.6B | 6.4B |
| Net Debt | 9.5B | 8.3B | 8.0B | 6.6B | 6.4B |
| Share Issued | 399.5M | 404.8M | 389.2M | 392.5M | 405.1M |
| Ordinary Shares Number | 399.2M | 404.5M | 389.2M | 392.5M | 405.1M |
| Buildings And Improvements | 134.2M | 126.8M | 121.1M | 81.1M | 83.1M |
| Derivative Product Liabilities | 97.1M | 32.8M | 44.9M | 26.4M | 17.6M |
| Financial Assets | 70.2M | 97.9M | 85.5M | 97.2M | 20.6M |
| Leases | 35.8M | 22.9M | 21.0M | 12.0M | 13.4M |
| Line Of Credit | -- | -- | 0.00 | 285.2M | -- |
| Machinery Furniture Equipment | 49.3M | 46.8M | 42.5M | 62.1M | 61.5M |
| Non Current Deferred Assets | 111.8M | 201.1M | 226.8M | 269.3M | 327.6M |
| Non Current Deferred Liabilities | 137.5M | 102.9M | 105.1M | 97.6M | 70.0M |
| Non Current Deferred Taxes Assets | 111.8M | 201.1M | 226.8M | 269.3M | 327.6M |
| Non Current Deferred Taxes Liabilities | 137.5M | 102.9M | 105.1M | 97.6M | 70.0M |
| Other Equity Interest | -- | -- | 9.0M | 10.2M | 10.8M |
| Other Properties | 4.2B | 3.6B | 3.9B | 3.0B | 2.6B |
| Other Receivables | 7.1B | 6.7B | 6.6B | 5.4B | 5.4B |
| Preferred Shares Number | -- | -- | 10.4M | 15.0M | 21.0M |
| Preferred Stock | 0.00 | 0.00 | 181.1M | 269.0M | 401.5M |
| Preferred Stock Equity | -- | -- | 181.1M | 269.0M | 401.5M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Receivables Adjustments Allowances | -10.8M | -6.2M | -5.5M | -7.6M | -8.0M |
| Restricted Cash | 344.8M | 279.8M | 254.2M | 319.3M | 314.4M |
| Treasury Shares Number | 207,672 | 311,504 | -- | -- | -- |
| 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 | -150.0M | -107.2M | -970.9M | 169.2M | 2.0B |
| Cash Flow From Continuing Operating Activities | -150.0M | -107.2M | -970.9M | 169.2M | 2.0B |
| Depreciation And Amortization | 670.4M | 611.6M | 562.8M | 444.4M | 420.5M |
| Depreciation Amortization Depletion | 670.4M | 611.6M | 562.8M | 444.4M | 420.5M |
| Stock Based Compensation | 3.1M | 1.6M | 0.00 | 0.00 | 181,958 |
| Change In Working Capital | -1.2B | -1.2B | -1.0B | 25.2M | 1.8B |
| Change In Receivables | -846.6M | -1.3B | -1.0B | -177.3M | 1.8B |
| Change In Other Working Capital | -352.9M | 106.7M | -2.0M | 202.5M | -57.6M |
| Other Non Cash Items | 45.1M | 46.4M | -850.6M | -603.3M | -498.3M |
| Capital Expenditure | -72.4M | -77.0M | -76.0M | -50.7M | -67.7M |
| Purchase Of PPE | -18.1M | -13.7M | -16.7M | -2.8M | -4.7M |
| Net PPE Purchase And Sale | -16.3M | -13.1M | -16.0M | -1.4M | -4.1M |
| Purchase Of Business | -73.6M | -81.4M | 0.00 | -- | -- |
| Purchase Of Investment | -- | -- | -- | -- | -433,719 |
| Sale Of Investment | -- | -- | 478,000 | 691,129 | -- |
| Net Investment Purchase And Sale | 5.0M | -30,000 | 478,000 | 691,129 | -433,719 |
| Investing Cash Flow | -139.2M | -157.8M | -74.9M | -48.3M | -67.4M |
| Cash Flow From Continuing Investing Activities | -139.2M | -157.8M | -74.9M | -48.3M | -67.4M |
| Issuance Of Debt | 2.0B | 1.8B | 3.0B | 367.6M | 493.1M |
| Repayment Of Debt | -1.2B | -989.3M | -1.7B | -7.2M | -1.8B |
| Net Issuance Payments Of Debt | 864.3M | 845.5M | 1.3B | 360.4M | -1.3B |
| Issuance Of Capital Stock | 43,000 | 2.5M | -- | 10.5M | 30.1M |
| Repurchase Of Capital Stock | -120.0M | -196.7M | -162.5M | -255.1M | -417.5M |
| Net Common Stock Issuance | -119.9M | -8.4M | -76.7M | -134.0M | -387.4M |
| Common Stock Payments | -120.0M | -10.8M | -76.7M | -144.5M | -417.5M |
| Financing Cash Flow | 511.0M | 454.8M | 1.1B | -5.6M | -1.9B |
| Cash Flow From Continuing Financing Activities | 511.0M | 454.8M | 1.1B | -5.6M | -1.9B |
| Effect Of Exchange Rate Changes | -191.4M | -157.4M | 37.0M | -97.9M | 436,856 |
| Changes In Cash | 221.8M | 189.8M | 8.5M | 115.3M | 28.2M |
| Beginning Cash Position | 128.8M | 96.4M | 50.9M | 33.4M | 6.9M |
| End Cash Position | 159.2M | 128.8M | 96.4M | 50.7M | 35.5M |
| Free Cash Flow | -222.3M | -184.2M | -1.0B | 118.5M | 1.9B |
| Income Tax Paid Supplemental Data | 89.1M | 120.8M | 57.4M | 42.7M | 38.0M |
| Interest Paid Supplemental Data | 498.4M | 544.7M | 400.3M | 197.1M | 134.1M |
| Amortization Cash Flow | 82.7M | 73.3M | 62.5M | 55.9M | 48.3M |
| Amortization Of Intangibles | 82.7M | 73.3M | 62.5M | 55.9M | 48.3M |
| Asset Impairment Charge | 54.1M | 0.00 | -- | -- | -- |
| Cash Dividends Paid | -149.4M | -146.7M | -133.5M | -111.9M | -112.6M |
| Common Stock Issuance | 43,000 | 2.5M | -- | 10.5M | 30.1M |
| Depreciation | 587.7M | 538.3M | 500.4M | 388.5M | 372.2M |
| Gain Loss On Investment Securities | -3.8M | 588,000 | 492,000 | 2.5M | -6.8M |
| Interest Paid Cfo | -3.6M | -4.1M | -2.9M | -1.4M | -1.8M |
| Long Term Debt Issuance | 2.0B | 1.8B | 3.0B | 91.1M | 493.1M |
| Long Term Debt Payments | -1.2B | -989.3M | -1.4B | -7.2M | -1.8B |
| Net Business Purchase And Sale | -73.6M | -81.4M | 0.00 | -- | -- |
| Net Income From Continuing Operations | 279.1M | 387.1M | 345.6M | 301.8M | 279.2M |
| Net Intangibles Purchase And Sale | -54.3M | -63.4M | -59.3M | -47.9M | -62.9M |
| Net Long Term Debt Issuance | 864.3M | 845.5M | 1.6B | 83.8M | -1.3B |
| Net Other Financing Charges | -84.0M | -49.7M | 37.4M | -9.5M | -26.5M |
| Net Other Investing Changes | -- | -- | -- | 282,935 | 86,273 |
| Net Preferred Stock Issuance | 0.00 | -185.8M | -85.8M | -110.5M | 0.00 |
| Net Short Term Debt Issuance | -- | 0.00 | -281.3M | 276.6M | 0.00 |
| Operating Gains Losses | -3.8M | 588,000 | 492,000 | 2.5M | -6.8M |
| Preferred Stock Payments | 0.00 | -185.8M | -85.8M | -110.5M | 0.00 |
| Provisionand Write Offof Assets | 5.0M | 1.5M | -1.6M | -18,420 | -4.3M |
| Purchase Of Intangibles | -54.3M | -63.4M | -59.3M | -47.9M | -62.9M |
| Sale Of PPE | 1.7M | 556,000 | 669,000 | 1.4M | 596,853 |
| Short Term Debt Issuance | -- | -- | -- | 276.6M | 0.00 |
| Short Term Debt Payments | -- | 0.00 | -281.3M | -- | -- |