FRA:X88 Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	14,776	14,223	12,281	8,627	7,816
Other Revenue	302	323	274	187	179
Revenue	15,078	14,546	12,555	8,814	7,995
Revenue Growth (YoY)	3.66%	15.86%	42.44%	10.24%	3.70%
Cost of Revenue	6,963	7,003	6,113	4,221	3,408
Gross Profit	8,115	7,543	6,442	4,593	4,587
Operating Expenses	2,019	1,900	1,543	853	811
Operating Income	6,096	5,643	4,899	3,740	3,776
Interest Expense	-876	-801	-771	-652	-440
Earnings From Equity Investments	-	-	230	1,074	-141
Currency Exchange Gain (Loss)	-	2	-27	-	11
Other Non Operating Income (Expenses)	1	18	-19	-17	-1
EBT Excluding Unusual Items	5,221	4,862	4,312	4,145	3,205
Merger & Restructuring Charges	-72	-112	-190	-	415
Gain (Loss) on Sale of Investments	333	-	-	-	-
Other Unusual Items	-	22	-7,175	-	-
Pretax Income	5,482	4,772	-3,053	4,145	3,620
Income Tax Expense	1,345	1,059	-6,976	628	768
Earnings From Continuing Operations	4,137	3,713	3,923	3,517	2,852
Minority Interest in Earnings	4	5	4	-	-
Net Income	4,141	3,718	3,927	3,517	2,852
Net Income to Common	4,141	3,718	3,927	3,517	2,852
Net Income Growth	11.38%	-5.32%	11.66%	23.32%	16.69%
Shares Outstanding (Basic)	916	933	931	930	680
Shares Outstanding (Diluted)	917	935	934	933	683
Shares Change (YoY)	-1.87%	0.10%	0.09%	36.63%	0.43%
EPS (Basic)	4.52	3.98	4.22	3.78	4.20
EPS (Diluted)	4.51	3.98	4.21	3.77	4.18
EPS Growth	13.32%	-5.46%	11.67%	-9.81%	16.43%
Free Cash Flow	2,169	2,406	1,638	2,585	2,156
Free Cash Flow Per Share	2.37	2.57	1.75	2.77	3.16
Dividend Per Share	0.874	0.760	0.760	0.760	0.760
Dividend Growth	15.00%	-	-	-	6.74%
Gross Margin	53.82%	51.86%	51.31%	52.11%	57.37%
Operating Margin	40.43%	38.79%	39.02%	42.43%	47.23%
Profit Margin	27.46%	25.56%	31.28%	39.90%	35.67%
Free Cash Flow Margin	14.38%	16.54%	13.05%	29.33%	26.97%
EBITDA	8,115	7,543	6,442	4,593	4,587
EBITDA Margin	53.82%	51.86%	51.31%	52.11%	57.37%
D&A For EBITDA	2,019	1,900	1,543	853	811
EBIT	6,096	5,643	4,899	3,740	3,776
EBIT Margin	40.43%	38.79%	39.02%	42.43%	47.23%
Effective Tax Rate	24.54%	22.19%	-	15.15%	21.21%
Revenue as Reported	15,078	14,546	12,555	8,814	7,995

Source: S&P Global Market Intelligence. Standard template. Financial Sources.