TSX:NOA 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
Revenue	1,284	1,166	964.68	769.54	654.14
Revenue Growth (YoY)	10.17%	20.85%	25.36%	17.64%	31.23%
Cost of Revenue	904.78	770.8	678.53	548.72	468.2
Gross Profit	379.52	394.99	286.15	220.82	185.94
Selling, General & Admin	50.33	54.56	56.84	29.76	36.13
Amortization of Goodwill & Intangibles	1.96	1.39	-	-	-
Operating Expenses	269.51	240.96	188.16	149.03	144.15
Operating Income	110	154.03	97.99	71.79	41.8
Interest Expense	-58.93	-59.34	-36.95	-24.54	-19.09
Interest & Investment Income	-	-	-	-	0.06
Earnings From Equity Investments	-11.33	15.3	25.2	37.05	21.86
Other Non Operating Income (Expenses)	-9.35	3.95	6.06	0.78	2.74
EBT Excluding Unusual Items	30.39	113.94	92.3	85.08	47.36
Merger & Restructuring Charges	-	-	-	-0.1	-
Gain (Loss) on Sale of Assets	-0.82	-0.77	-1.66	-0.54	0.09
Other Unusual Items	26.91	-53.21	-4.68	-	13.24
Pretax Income	56.47	59.97	85.96	84.45	60.69
Income Tax Expense	22.64	15.96	22.82	17.07	9.29
Earnings From Continuing Operations	33.83	44.01	63.14	67.37	51.41
Net Income	33.83	44.01	63.14	67.37	51.41
Net Income to Common	33.83	44.01	63.14	67.37	51.41
Net Income Growth	-23.12%	-30.30%	-6.28%	31.05%	4.47%
Shares Outstanding (Basic)	29	27	27	27	28
Shares Outstanding (Diluted)	32	33	33	34	34
Shares Change (YoY)	-2.38%	0.08%	-2.88%	0.18%	5.10%
EPS (Basic)	1.18	1.64	2.38	2.46	1.81
EPS (Diluted)	1.14	1.51	2.09	2.15	1.64
EPS Growth	-24.59%	-27.66%	-2.93%	31.03%	2.97%
Free Cash Flow	-17.01	-62.54	75.28	57.7	52.62
Free Cash Flow Per Share	-0.53	-1.89	2.28	1.70	1.55
Dividend Per Share	0.480	0.420	0.400	0.320	0.160
Dividend Growth	14.29%	5.00%	25.00%	100.00%	-
Gross Margin	29.55%	33.88%	29.66%	28.69%	28.43%
Operating Margin	8.57%	13.21%	10.16%	9.33%	6.39%
Profit Margin	2.63%	3.77%	6.54%	8.76%	7.86%
Free Cash Flow Margin	-1.32%	-5.36%	7.80%	7.50%	8.04%
EBITDA	327.24	339.04	229.31	191.06	149.82
EBITDA Margin	25.48%	29.08%	23.77%	24.83%	22.90%
D&A For EBITDA	217.23	185.01	131.32	119.27	108.02
EBIT	110	154.03	97.99	71.79	41.8
EBIT Margin	8.57%	13.21%	10.16%	9.33%	6.39%
Effective Tax Rate	40.09%	26.61%	26.55%	20.22%	15.30%

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