TSX:NOA Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Revenue	1,263	1,284	1,166	964.68	769.54	654.14
Revenue Growth (YoY)	4.39%	10.17%	20.85%	25.36%	17.64%	31.23%
Cost of Revenue	882.94	904.78	770.8	678.53	548.72	455.71
Gross Profit	167.21	162.28	209.98	154.83	101.55	90.42
Selling, General & Admin	63.08	50.33	54.56	56.84	29.86	35.37
Depreciation & Amortization Expenses	1.91	1.96	1.39	-	-	-
Other Operating Expenses	1.73	0.82	0.77	1.66	0.54	-0.09
Total Operating Expenses	66.72	53.1	56.72	58.5	30.39	35.29
Operating Income	100.48	109.18	153.26	96.33	71.16	55.13
Interest Income	-7.12	-11.33	15.3	25.2	37.05	21.86
Interest Expense	-62.11	-58.93	-59.34	-36.95	-24.54	-19.03
Other Non-Operating Income (Expense)	29.33	17.56	-49.25	1.38	0.78	2.74
Total Non-Operating Income (Expense)	-39.9	-52.71	-93.3	-10.37	13.29	5.57
Pretax Income	55.86	56.47	59.97	85.96	84.45	60.69
Provision for Income Taxes	22.64	22.64	15.96	22.82	17.07	9.29
Net Income	33.23	33.83	44.01	63.14	67.37	51.41
Net Income to Common	33.23	33.83	44.01	63.14	67.37	51.41
Net Income Growth	-16.86%	-23.12%	-30.30%	-6.28%	31.05%	4.47%
Shares Outstanding (Basic)	29	29	27	27	27	28
Shares Outstanding (Diluted)	31	32	33	33	31	34
Shares Change (YoY)	-0.26%	-2.38%	0.08%	5.40%	-7.69%	10.38%
EPS (Basic)	1.14	1.18	1.64	2.38	2.46	1.81
EPS (Diluted)	1.08	1.14	1.51	2.09	2.15	1.64
EPS Growth	-16.92%	-24.50%	-27.75%	-2.79%	31.10%	2.50%
Shares Outstanding	27.36	27.95	26.7	26.74	26.42	28.46
Free Cash Flow	5.78	-17.01	-62.54	75.28	57.7	52.62
Free Cash Flow Growth	-	-	-	30.46%	9.66%	78.48%
Free Cash Flow Per Share	0.19	-0.53	-1.89	2.28	1.84	1.55
Dividends Per Share	0.480	0.480	0.420	0.400	0.320	0.160
Dividend Growth	-	14.29%	5.00%	25.00%	100.00%	-
Gross Margin	13.24%	12.64%	18.01%	16.05%	13.20%	13.82%
Operating Margin	7.96%	8.50%	13.15%	9.99%	9.25%	8.43%
Profit Margin	2.63%	2.63%	3.78%	6.55%	8.75%	7.86%
FCF Margin	0.46%	-1.32%	-5.36%	7.80%	7.50%	8.04%
EBITDA	313.01	326.41	338.27	227.65	190.43	163.14
EBITDA Margin	24.79%	25.42%	29.02%	23.60%	24.75%	24.94%
EBIT	100.48	109.18	153.26	96.33	71.16	55.13
EBIT Margin	7.96%	8.50%	13.15%	9.99%	9.25%	8.43%
Effective Tax Rate	40.53%	40.09%	26.61%	26.55%	20.22%	15.30%

Updated May 13, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.