North American Construction Group Ltd. (NOA)

NOA Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	32.35	33.83	44.01	63.14	67.37	51.41
Depreciation & Amortization	217.47	217.23	185.01	131.32	119.27	108.02
Other Amortization	3.37	2.95	3	1.64	1.08	1.06
Loss (Gain) From Sale of Assets	3.17	0.82	0.77	1.66	0.54	-0.09
Loss (Gain) on Equity Investments	13.83	13.54	-7.96	-5.87	-24.29	-10.59
Stock-Based Compensation	4.88	-0.43	8.71	8.01	4.78	9.31
Other Operating Activities	-4.91	0.84	67.08	27.56	13.77	5.39
Change in Accounts Receivable	-15.71	9.47	-41.28	38.59	-17	-33.4
Change in Inventory	-8.1	-10.24	0.24	-2.52	-5.35	-11.24
Change in Accounts Payable	21.18	-11.33	-32.25	9.59	12.75	31.23
Change in Unearned Revenue	-15.29	3.66	4.8	-1.97	-1.94	1.84
Change in Other Net Operating Assets	16.49	3.76	9.11	6.95	-1.77	12.24
Operating Cash Flow	268.73	264.09	241.22	278.09	169.2	165.18
Operating Cash Flow Growth	-1.17%	9.48%	-13.26%	64.35%	2.43%	12.71%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-255.14	-281.1	-303.76	-202.81	-111.5	-112.56
Sale of Property, Plant & Equipment	13.92	11.67	13.57	10.42	3.4	17.14
Cash Acquisitions	-37.54	-	-3.86	-51.67	-2.21	-11.4
Sale (Purchase) of Intangibles	-4.22	-4.27	-4.2	-0.68	-3.77	-1.23
Investment in Securities	-	-	-	-0.39	-	-1.96
Other Investing Activities	2.78	8.86	-0.05	0.25	16.6	10.74
Investing Cash Flow	-280.19	-264.83	-298.3	-244.88	-97.47	-99.27

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	757.42	234.47	340.03	83.4	135.05
Long-Term Debt Repaid	-	-631.02	-130.34	-315.6	-58.64	-198.32
Net Debt Issued (Repaid)	207.16	126.4	104.13	24.43	24.76	-63.27
Issuance of Common Stock	-	-	-	-	-	0.52
Repurchase of Common Stock	-51.67	-41.72	-6.78	-5.99	-36.16	-22.02
Common Dividends Paid	-13.29	-13.39	-10.64	-10.03	-7.77	-4.42
Other Financing Activities	-50.34	-49.73	-40.73	-16.15	-0.32	-3.57
Financing Cash Flow	91.86	21.56	45.98	-7.75	-19.49	-92.76

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	8.25	1.43	0.35	-5.99	0.3	0
Net Cash Flow	88.65	22.25	-10.74	19.47	52.54	-26.85

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	13.59	-17.01	-62.54	75.28	57.7	52.62
Free Cash Flow Growth	-	-	-	30.46%	9.66%	78.48%
Free Cash Flow Margin	1.01%	-1.32%	-5.36%	7.80%	7.50%	8.04%
Free Cash Flow Per Share	0.45	-0.53	-1.89	2.28	1.70	1.55
Levered Free Cash Flow	35.04	-35.26	-100.96	19.91	43.51	17
Unlevered Free Cash Flow	73.46	-1.38	-66.87	41.37	57.77	27.87

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	81.58	67.15	64.48	33.5	24.08	17.03
Cash Income Tax Paid	11.36	7.48	1.06	1.37	-	-
Change in Working Capital	-1.43	-4.69	-59.39	50.63	-13.31	0.67

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: May 13, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 25, 2026

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