Pinetree Capital Ltd. (TSX:PNP)

Pinetree Capital 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
Other Revenue	30.41	33.3	6.65	2.29	2.39	1.68
Revenue	30.41	33.3	6.65	2.29	2.39	1.68
Revenue Growth (YoY)	55.04%	400.87%	190.48%	-4.39%	42.67%	-32.58%
Gross Profit	30.41	33.3	6.65	2.29	2.39	1.68
Selling, General & Admin	1.57	0.79	0.75	0.83	0.64	0.34
Operating Expenses	1.57	0.79	0.75	0.83	0.64	0.34
Operating Income	28.84	32.52	5.9	1.46	1.76	1.34
Interest Expense	-0.03	-0.01	-0.02	-0.02	-0.02	-0.02
Currency Exchange Gain (Loss)	0.01	-0	-0.01	-0.19	-0.1	0.04
Other Non Operating Income (Expenses)	-0.13	-0.13	-0.11	-0.1	-0.17	-0.11
EBT Excluding Unusual Items	28.69	32.36	5.77	1.15	1.47	1.25
Pretax Income	28.69	32.36	5.77	1.15	1.47	1.25
Income Tax Expense	0.36	0.04	0.02	-0.03	0.01	0.05
Net Income	28.34	32.33	5.75	1.18	1.46	1.2
Net Income to Common	28.34	32.33	5.75	1.18	1.46	1.2
Net Income Growth	49.60%	461.92%	387.54%	-19.12%	21.28%	-37.28%
Shares Outstanding (Basic)	9	9	9	9	8	5
Shares Outstanding (Diluted)	9	9	9	9	8	5
Shares Change (YoY)	-	-	-	23.24%	68.42%	-
EPS (Basic)	3.02	3.44	0.61	0.13	0.19	0.27
EPS (Diluted)	3.02	3.44	0.61	0.13	0.19	0.27
EPS Growth	49.60%	461.92%	387.54%	-34.37%	-27.99%	-37.28%
Free Cash Flow	4.77	2.96	-3.88	-3.89	-10.91	-5.08
Free Cash Flow Per Share	0.51	0.32	-0.41	-0.41	-1.43	-1.12
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	94.83%	97.63%	88.80%	63.87%	73.31%	79.56%
Profit Margin	93.19%	97.07%	86.52%	51.55%	60.94%	71.69%
Free Cash Flow Margin	15.68%	8.88%	-58.31%	-170.12%	-455.72%	-302.80%
EBIT	28.84	32.52	5.9	1.46	1.76	1.34
EBIT Margin	94.83%	97.63%	88.80%	63.87%	73.31%	79.56%
Effective Tax Rate	1.24%	0.11%	0.26%	-	0.88%	3.76%
Revenue as Reported	30.41	33.3	6.65	2.29	2.39	1.68

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