Element Fleet Management Corp.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Total Revenue | 602.6M | 601.1M | 572.7M | 543.7M | 542.0M | 560.7M | -- |
| Operating Revenue | 602.6M | 601.1M | 572.7M | 543.7M | 542.0M | 560.7M | -- |
| Cost Of Revenue | 378.2M | 373.1M | 356.6M | 342.9M | 347.5M | 359.1M | -- |
| Gross Profit | 224.4M | 228.0M | 216.1M | 200.8M | 194.5M | 201.6M | -- |
| Selling General And Administration | 55.9M | 43.8M | 48.3M | 44.4M | 49.1M | 46.3M | -- |
| General And Administrative Expense | 55.9M | 43.8M | 48.3M | 44.4M | 49.1M | 46.3M | -- |
| Depreciation And Amortization In Income Statement | 79.1M | 24.6M | 24.1M | 23.6M | 23.6M | 21.9M | -- |
| Operating Expense | 135.0M | 68.4M | 72.4M | 67.9M | 72.7M | 68.3M | -- |
| Operating Income | 89.4M | 159.6M | 143.7M | 132.9M | 121.8M | 133.3M | -- |
| EBIT | 89.7M | 159.6M | 143.4M | 136.5M | 121.4M | 133.3M | -- |
| Interest Expense | 0.00 | -- | 0.00 | 0.00 | 0.00 | 0.00 | 724,000 |
| Interest Expense Non Operating | 0.00 | -- | 0.00 | 0.00 | 0.00 | 0.00 | 724,000 |
| Net Interest Income | 0.00 | -- | 0.00 | 0.00 | 0.00 | 0.00 | -724,000 |
| Other Income Expense | 326,000 | 87,000 | -238,000 | 3.6M | -410,000 | 668,000 | -- |
| Gain On Sale Of Security | 326,000 | 87,000 | -238,000 | 3.6M | -410,000 | 668,000 | -- |
| Pretax Income | 89.7M | 159.7M | 143.4M | 136.5M | 121.4M | 134.0M | -- |
| Tax Provision | 150.5M | 34.4M | 31.1M | 34.2M | 29.4M | 35.4M | -- |
| Tax Effect Of Unusual Items | 48,900 | 18,762 | -55,454 | 904,745 | -99,168 | 176,525 | -- |
| Net Income From Continuing And Discontinued Operation | -60.7M | 125.2M | 112.4M | 102.2M | 92.1M | 98.6M | -- |
| Net Income From Continuing Operation Net Minority Interest | -60.7M | 125.2M | 112.4M | 102.2M | 92.1M | 98.6M | -- |
| Net Income Including Noncontrolling Interests | -60.7M | 125.2M | 112.4M | 102.2M | 92.1M | 98.6M | -- |
| Net Income Common Stockholders | -60.7M | 125.2M | 112.4M | 102.2M | 92.1M | 97.1M | -- |
| Net Income | -60.7M | 125.2M | 112.4M | 102.2M | 92.1M | 98.6M | -- |
| EBITDA | 267.0M | 334.2M | 308.1M | 290.3M | 270.6M | 283.3M | -- |
| Normalized EBITDA | 266.7M | 334.1M | 308.4M | 286.6M | 271.0M | 282.7M | -- |
| Reconciled Depreciation | 177.3M | 174.6M | 164.7M | 153.8M | 149.1M | 150.0M | -- |
| Basic EPS | -- | 0.31 | 0.28 | 0.25 | -- | 0.24 | 0.26 |
| Diluted EPS | -- | 0.31 | 0.28 | 0.25 | -- | 0.24 | 0.25 |
| Basic Average Shares | -- | 401.0M | 401.7M | 403.5M | -- | 403.6M | 390.0M |
| Diluted Average Shares | -- | 401.3M | 401.9M | 403.7M | -- | 403.8M | 403.6M |
| Total Unusual Items | 326,000 | 87,000 | -238,000 | 3.6M | -410,000 | 668,000 | -- |
| Total Unusual Items Excluding Goodwill | 326,000 | 87,000 | -238,000 | 3.6M | -410,000 | 668,000 | -- |
| Tax Rate For Calcs | 0.15 | 0.22 | 0.23 | 0.25 | 0.24 | 0.26 | -- |
| Normalized Income | -61.0M | 125.2M | 112.5M | 99.5M | 92.4M | 98.1M | -- |
| Amortization | 7.8M | 7.8M | 7.8M | 7.8M | 7.8M | 7.0M | -- |
| Amortization Of Intangibles Income Statement | 7.8M | 7.8M | 7.8M | 7.8M | 7.8M | 7.0M | -- |
| Depreciation Amortization Depletion Income Statement | 79.1M | 24.6M | 24.1M | 23.6M | 23.6M | 21.9M | -- |
| Depreciation Income Statement | 71.3M | 16.8M | 16.3M | 15.8M | 15.8M | 15.0M | -- |
| Diluted NI Availto Com Stockholders | -60.7M | 125.2M | 112.4M | 102.2M | 94.5M | 97.1M | -- |
| Net Income Continuous Operations | -60.7M | 125.2M | 112.4M | 102.2M | 92.1M | 98.6M | -- |
| Net Non Operating Interest Income Expense | 0.00 | -- | 0.00 | 0.00 | 0.00 | 0.00 | -724,000 |
| Other Gand A | 45.2M | 35.6M | 37.9M | 34.2M | 35.4M | 34.1M | -- |
| Preferred Stock Dividends | -- | -- | -- | -- | 0.00 | 1.4M | 2.9M |
| Reconciled Cost Of Revenue | 280.0M | 223.0M | 216.1M | 212.7M | 222.0M | 231.0M | -- |
| Salaries And Wages | 10.8M | 8.3M | 10.3M | 10.2M | 13.7M | 12.2M | -- |
| Total Expenses | 513.2M | 441.5M | 429.0M | 410.8M | 420.2M | 427.4M | -- |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Cash And Cash Equivalents | 159.2M | 168.7M | 143.8M | 498.0M | 128.8M | 65.0M | -- |
| Cash Cash Equivalents And Short Term Investments | 159.2M | 168.7M | 143.8M | 498.0M | 128.8M | 65.0M | -- |
| Cash Financial | 159.2M | 168.7M | 143.8M | 498.0M | 128.8M | 65.0M | -- |
| Accounts Receivable | 1.4B | 930.2M | 967.8M | 904.8M | 1.1B | 727.8M | -- |
| Receivables | 8.6B | 8.8B | 8.7B | 7.9B | 7.8B | 7.8B | -- |
| Current Assets | 9.1B | 9.3B | 9.2B | 8.7B | 8.2B | 8.1B | -- |
| Gross PPE | 4.4B | 4.1B | 4.0B | 3.7B | 3.8B | 3.8B | -- |
| Accumulated Depreciation | -1.4B | -1.3B | -1.3B | -1.2B | -1.2B | -1.2B | -- |
| Net PPE | 3.0B | 2.8B | 2.7B | 2.5B | 2.5B | 2.7B | -- |
| Goodwill | 1.1B | 1.0B | 1.0B | 1.0B | 1.0B | 956.3M | -- |
| Goodwill And Other Intangible Assets | 1.7B | 1.7B | 1.7B | 1.7B | 1.7B | 1.6B | -- |
| Other Intangible Assets | 615.2M | 617.8M | 626.2M | 629.4M | 642.5M | 625.2M | -- |
| Total Non Current Assets | 4.8B | 4.8B | 4.7B | 4.5B | 4.5B | 4.5B | -- |
| Total Assets | 13.9B | 14.1B | 13.9B | 13.2B | 12.7B | 12.6B | -- |
| Payables And Accrued Expenses | 1.2B | 1.5B | 1.4B | 1.2B | 1.3B | 1.2B | -- |
| Current Liabilities | 1.2B | 1.5B | 1.4B | 1.2B | 1.3B | 1.2B | -- |
| Long Term Debt | 9.7B | 9.5B | 9.4B | 9.0B | 8.5B | 8.4B | -- |
| Long Term Debt And Capital Lease Obligation | 9.7B | 9.5B | 9.4B | 9.0B | 8.5B | 8.4B | -- |
| Total Non Current Liabilities Net Minority Interest | 9.9B | 9.8B | 9.7B | 9.2B | 8.6B | 8.7B | -- |
| Total Liabilities Net Minority Interest | 11.2B | 11.3B | 11.1B | 10.4B | 9.9B | 9.9B | -- |
| Common Stock | 2.2B | 2.2B | 2.2B | 2.3B | 2.3B | 2.2B | -- |
| Capital Stock | 2.2B | 2.2B | 2.2B | 2.3B | 2.3B | 2.2B | -- |
| Retained Earnings | 687.3M | 812.6M | 744.4M | 685.1M | 650.4M | 596.9M | -- |
| Gains Losses Not Affecting Retained Earnings | -204.0M | -227.5M | -217.6M | -217.4M | -140.1M | -65.7M | -- |
| Common Stock Equity | 2.7B | 2.8B | 2.8B | 2.7B | 2.8B | 2.8B | -- |
| Stockholders Equity | 2.7B | 2.8B | 2.8B | 2.7B | 2.8B | 2.8B | -- |
| Total Equity Gross Minority Interest | 2.7B | 2.8B | 2.8B | 2.7B | 2.8B | 2.8B | -- |
| Total Capitalization | 12.4B | 12.3B | 12.2B | 11.7B | 11.2B | 11.2B | -- |
| Net Tangible Assets | 1.0B | 1.2B | 1.1B | 1.1B | 1.1B | 1.2B | -- |
| Tangible Book Value | 1.0B | 1.2B | 1.1B | 1.1B | 1.1B | 1.2B | -- |
| Working Capital | 7.8B | 7.8B | 7.8B | 7.4B | 6.8B | 7.0B | -- |
| Invested Capital | 12.4B | 12.3B | 12.2B | 11.7B | 11.2B | 11.2B | -- |
| Total Debt | 9.7B | 9.5B | 9.4B | 9.0B | 8.5B | 8.4B | -- |
| Net Debt | 9.5B | 9.3B | 9.3B | 8.5B | 8.3B | 8.4B | -- |
| Share Issued | 399.5M | 400.7M | 401.7M | 402.6M | 404.8M | 403.6M | -- |
| Ordinary Shares Number | 399.2M | 400.5M | 401.4M | 402.4M | 404.5M | 403.6M | -- |
| Buildings And Improvements | 134.2M | -- | -- | -- | 126.8M | -- | -- |
| Derivative Product Liabilities | 97.1M | 146.5M | 172.7M | 58.6M | 32.8M | 114.7M | -- |
| Financial Assets | 70.2M | 92.4M | 71.1M | 96.6M | 97.9M | 70.9M | -- |
| Leases | 35.8M | -- | -- | -- | 22.9M | -- | -- |
| Machinery Furniture Equipment | 49.3M | -- | -- | -- | 46.8M | -- | -- |
| Non Current Deferred Assets | 111.8M | 211.4M | 215.7M | 201.3M | 201.1M | 211.5M | -- |
| Non Current Deferred Liabilities | 137.5M | 160.9M | 141.5M | 123.4M | 102.9M | 171.0M | -- |
| Non Current Deferred Taxes Assets | 111.8M | 211.4M | 215.7M | 201.3M | 201.1M | 211.5M | -- |
| Non Current Deferred Taxes Liabilities | 137.5M | 160.9M | 141.5M | 123.4M | 102.9M | 171.0M | -- |
| Other Properties | 4.2B | 4.1B | 4.0B | 3.7B | 3.6B | 3.8B | -- |
| Other Receivables | 7.1B | 7.8B | 7.7B | 7.0B | 6.7B | 7.1B | -- |
| Preferred Shares Number | -- | -- | -- | -- | -- | -- | 5.3M |
| Preferred Stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- |
| Preferred Stock Equity | -- | -- | -- | -- | -- | -- | 92.4M |
| Properties | 0.00 | -- | -- | -- | 0.00 | -- | -- |
| Receivables Adjustments Allowances | -10.8M | -8.5M | -8.9M | -7.1M | -6.2M | -6.1M | -- |
| Restricted Cash | 344.8M | 358.9M | 326.6M | 282.6M | 279.8M | 272.2M | -- |
| Treasury Shares Number | 207,672 | 222,800 | 259,588 | 259,588 | 311,504 | -- | -- |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 53.0M | 145.7M | -325.1M | -23.5M | -107.9M | 531.8M | -- |
| Cash Flow From Continuing Operating Activities | 53.0M | 145.7M | -325.1M | -23.5M | -107.9M | 531.8M | -- |
| Depreciation And Amortization | 177.3M | 174.6M | 164.7M | 153.8M | 149.1M | 150.0M | -- |
| Depreciation Amortization Depletion | 177.3M | 174.6M | 164.7M | 153.8M | 149.1M | 150.0M | -- |
| Stock Based Compensation | 532,000 | 671,000 | 844,000 | 1.1M | -- | 0.00 | 0.00 |
| Change In Working Capital | -677.5M | 56.3M | -418.7M | -159.5M | -189.4M | 428.9M | -- |
| Change In Receivables | -344.0M | -169.7M | -347.4M | 14.6M | -111.7M | 184.6M | -- |
| Change In Other Working Capital | -333.5M | 226.0M | -71.3M | -174.1M | -77.7M | 244.3M | -- |
| Other Non Cash Items | 557.6M | -209.9M | -185.1M | -117.6M | -161.4M | -144.4M | -- |
| Capital Expenditure | -34.0M | -17.0M | -13.2M | -8.2M | -22.7M | -17.9M | -- |
| Purchase Of PPE | -11.4M | -3.9M | -1.1M | -1.6M | -2.6M | -3.4M | -- |
| Net PPE Purchase And Sale | -11.4M | -3.9M | -1.1M | 84,000 | -2.3M | -3.3M | -- |
| Purchase Of Investment | -- | 67,000 | -- | -- | -- | 0.00 | -- |
| Sale Of Investment | -- | -- | -- | 5.0M | -- | -- | -- |
| Net Investment Purchase And Sale | 7.0M | 67,000 | -7.0M | 5.0M | 0.00 | 0.00 | -- |
| Investing Cash Flow | -100.6M | -16.9M | -20.2M | -1.5M | -103.8M | -17.8M | -- |
| Cash Flow From Continuing Investing Activities | -100.6M | -16.9M | -20.2M | -1.5M | -103.8M | -17.8M | -- |
| Issuance Of Debt | 1.2B | 108.7M | 11.1M | 650.0M | 0.00 | 0.00 | -- |
| Repayment Of Debt | -1.1B | -3.2M | 106.4M | -107.2M | 350.4M | -364.0M | -- |
| Net Issuance Payments Of Debt | 98.5M | 105.6M | 117.5M | 542.8M | 350.4M | -364.0M | -- |
| Issuance Of Capital Stock | 0.00 | 0.00 | 43,000 | 0.00 | 518,000 | 0.00 | -- |
| Repurchase Of Capital Stock | -33.0M | -23.2M | -23.2M | -40.5M | -3.5M | -94.7M | -- |
| Net Common Stock Issuance | -33.0M | -23.2M | -23.2M | -40.5M | -3.0M | 0.00 | -- |
| Common Stock Payments | -33.0M | -23.2M | -23.2M | -40.5M | -3.5M | 0.00 | -- |
| Financing Cash Flow | 34.7M | 5.0M | 14.6M | 456.7M | 297.5M | -505.0M | -- |
| Cash Flow From Continuing Financing Activities | 34.7M | 5.0M | 14.6M | 456.7M | 297.5M | -505.0M | -- |
| Effect Of Exchange Rate Changes | 3.4M | -108.8M | -23.5M | -62.5M | -22.0M | -27.2M | -- |
| Changes In Cash | -12.9M | 133.7M | -330.7M | 431.7M | 85.8M | 9.0M | -- |
| Beginning Cash Position | 168.7M | 143.8M | 498.0M | 128.8M | 65.0M | 83.2M | -- |
| End Cash Position | 159.2M | 168.7M | 143.8M | 498.0M | 128.8M | 65.0M | -- |
| Free Cash Flow | 19.0M | 128.6M | -338.3M | -31.7M | -130.6M | 514.0M | -- |
| Income Tax Paid Supplemental Data | 19.5M | 20.8M | 22.4M | 26.5M | 69.0M | 23.1M | -- |
| Interest Paid Supplemental Data | 107.1M | 151.9M | 107.1M | 132.3M | 144.5M | 126.4M | -- |
| Amortization Cash Flow | 21.2M | 20.8M | 20.6M | 20.0M | 20.0M | 18.5M | -- |
| Amortization Of Intangibles | 21.2M | 20.8M | 20.6M | 20.0M | 20.0M | 18.5M | -- |
| Cash Dividends Paid | -37.2M | -38.2M | -37.5M | -36.5M | -35.2M | -36.8M | -- |
| Common Stock Issuance | 0.00 | 0.00 | 43,000 | 0.00 | 518,000 | 0.00 | -- |
| Depreciation | 156.0M | 153.8M | 144.1M | 133.7M | 129.1M | 131.5M | -- |
| Gain Loss On Investment Securities | -326,000 | -87,000 | 238,000 | -3.6M | 410,000 | -668,000 | -- |
| Interest Paid Cfo | -945,000 | -886,000 | -826,000 | -894,000 | -928,000 | -1.5M | -- |
| Long Term Debt Issuance | 1.2B | 108.7M | 11.1M | 650.0M | 0.00 | 0.00 | -- |
| Long Term Debt Payments | -1.1B | -3.2M | 106.4M | -107.2M | 350.4M | -364.0M | -- |
| Net Income From Continuing Operations | -60.7M | 125.2M | 112.4M | 102.2M | 92.1M | 98.6M | -- |
| Net Intangibles Purchase And Sale | -22.6M | -13.1M | -12.1M | -6.6M | -20.2M | -14.5M | -- |
| Net Long Term Debt Issuance | 98.5M | 105.6M | 117.5M | 542.8M | 350.4M | -364.0M | -- |
| Net Other Financing Charges | 6.5M | -39.2M | -42.2M | -9.1M | -14.6M | -9.6M | -- |
| Net Preferred Stock Issuance | 0.00 | 0.00 | -- | -- | 0.00 | -94.7M | -- |
| Operating Gains Losses | -326,000 | -87,000 | 238,000 | -3.6M | 410,000 | -668,000 | -- |
| Preferred Stock Payments | 0.00 | 0.00 | -- | -- | 0.00 | -94.7M | -- |
| Provisionand Write Offof Assets | 2.9M | -392,000 | 1.4M | 1.0M | 656,000 | 875,000 | -- |
| Purchase Of Intangibles | -22.6M | -13.1M | -12.1M | -6.6M | -20.2M | -14.5M | -- |
| Sale Of PPE | 1,000 | 37,000 | 8,000 | 1.7M | 274,000 | 54,000 | -- |