Great-West Lifeco Inc. (TSX:GWO)

Great-West Lifeco Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	22,030	21,214	20,402	19,632	52,813	43,019
Total Interest & Dividend Income	8,270	7,603	3,523	28,212	6,284	5,513
Gain (Loss) on Sale of Investments	919	1,631	6,250	-31,063	-1,944	6,239
Other Revenue	4,583	4,292	1,068	13,612	7,294	5,902
Total Revenue	35,802	34,740	31,243	30,393	64,447	60,673
Revenue Growth (YoY)	7.48%	11.19%	2.80%	-52.84%	6.22%	35.70%
Policy Benefits	17,831	17,122	16,557	16,105	50,295	48,487
Policy Acquisition & Underwriting Costs	748	748	702	637	2,664	2,396
Amortization of Goodwill & Intangibles	439	415	366	354	336	238
Selling, General & Administrative	7,406	7,050	6,402	5,604	6,337	5,492
Other Operating Expenses	97	97	62	61	500	480
Total Operating Expenses	26,516	25,425	24,090	22,803	60,162	57,109
Operating Income	9,286	9,315	7,153	7,590	4,285	3,564
Interest Expense	-4,179	-4,186	-3,832	-3,324	-313	-267
Other Non Operating Income (Expenses)	-26	-26	-27	-24	-15	-17
EBT Excluding Unusual Items	5,081	5,103	3,294	4,242	3,957	3,280
Merger & Restructuring Charges	-294	-122	-226	-178	-90	-134
Asset Writedown	-	-	-	-	-	-74
Pretax Income	4,787	4,981	3,068	4,064	3,867	3,072
Income Tax Expense	584	737	53	394	304	-82
Earnings From Continuing Ops.	4,203	4,244	3,015	3,670	3,563	3,154
Earnings From Discontinued Ops.	-	-71	-124	-32	-	-
Net Income to Company	4,203	4,173	2,891	3,638	3,563	3,154
Minority Interest in Earnings	-31	-103	-23	88	-301	-78
Net Income	4,172	4,070	2,868	3,726	3,262	3,076
Preferred Dividends & Other Adjustments	144	130	130	130	134	133
Net Income to Common	4,028	3,940	2,738	3,596	3,128	2,943
Net Income Growth	12.94%	41.91%	-23.03%	14.22%	6.05%	23.43%
Shares Outstanding (Basic)	929	932	932	932	929	928
Shares Outstanding (Diluted)	933	935	934	932	931	928
Shares Change (YoY)	-0.18%	0.17%	0.13%	0.14%	0.34%	-1.98%
EPS (Basic)	4.34	4.23	2.94	3.86	3.37	3.17
EPS (Diluted)	4.31	4.21	2.94	3.86	3.36	3.17
EPS Growth	12.81%	43.47%	-23.82%	14.75%	5.93%	27.24%
Dividend Per Share	2.385	2.220	2.080	1.960	1.804	1.752
Dividend Growth	9.15%	6.73%	6.12%	8.65%	2.97%	6.05%
Operating Margin	25.94%	26.81%	22.89%	24.97%	6.65%	5.87%
Profit Margin	11.25%	11.34%	8.76%	11.83%	4.85%	4.85%
EBITDA	9,812	9,817	7,606	8,049	4,740	3,931
EBITDA Margin	27.41%	28.26%	24.34%	26.48%	7.36%	6.48%
D&A For EBITDA	526	502	453	459	455	367
EBIT	9,286	9,315	7,153	7,590	4,285	3,564
EBIT Margin	25.94%	26.81%	22.89%	24.97%	6.65%	5.87%
Effective Tax Rate	12.20%	14.80%	1.73%	9.70%	7.86%	-
Revenue as Reported	-	-	-	-	64,417	60,583

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.