CP FINANCIAL STATEMENTS

Canadian Pacific Railway Ltd — balance sheet, income statement and cash flow trends

CPCanadian Pacific Railway Ltd

🇨🇦 Canada · TO · Industrials · Railroads

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Income Statement

Quarterly progression — trailing-twelve-month values
RevenueNet Income
05 B10 B15 B202120222023202420252026

Profit Funnel

Q1 2026 · TTM
Revenue16.4 B C$Gross Profit7.9 B C$ · 48%Operating Income6.1 B C$ · 37%Pre-tax Income5.9 B C$ · 36%Net Income4.4 B C$ · 27%

Percentages are relative to revenue.

Key Figures

YoY change
Revenue16.4 B C$+10.9%
Gross Profit7.9 B C$+3.1%
Operating Income6.1 B C$+14.0%
EBITDA9.1 B C$+18.0%
Net Income4.4 B C$+15.2%

Peer Comparison· Railroads

CompanyRev. GrowthGross MarginEBITDA MarginNet Margin
CP10.9%48.3%55.2%27.0%
NSC0.6%45.3%45.3%21.9%
CSX-0.9%37.5%45.9%21.6%
WAB9.6%33.8%20.1%10.5%
UNP1.9%45.7%53.0%29.2%
AZJ2.2%22.5%38.8%7.7%
Industry median1.9%34.2%45.3%21.6%

Balance Sheet

Quarterly period-end values
Total AssetsTotal LiabilitiesEquity
050 B100 B202120222023202420252026

Capital Structure

Q1 2026
Total Assets87.7 B
  • Equity46.5 B C$54%
  • Current Liabilities5.1 B C$6%
  • Long-term Liabilities35.2 B C$41%

Key Figures

YoY change
Total Assets87.7 B C$-0.4%
Total Liabilities40.3 B C$+3.8%
Total Equity46.5 B C$-3.7%
Cash & ST Investments409 M C$-41.2%
Total Debt24.3 B C$+7.4%
Net Debt23.9 B C$+8.9%

Peer Comparison· Railroads

CompanyCurrent RatioDebt/EquityNetDebt/EBITDAEquity/Assets
CP0.6752.4%2.6453.0%
NSC0.91108.2%2.8535.0%
CSX0.97142.4%2.8130.7%
WAB1.0262.0%2.7648.1%
UNP0.92162.2%2.3327.9%
AZJ0.57125.7%3.3535.6%
Industry median0.97108.2%2.7636.1%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values
Operating Cash FlowCapital ExpendituresFree Cash Flow
02 B4 B6 B202120222023202420252026

Cash Flow Bridge

Q1 2026 · TTM
02 B4 B5.6 B C$Operating-3 B C$Investing-3.1 B C$Financing-389.9 M C$Net Change

Key Figures

YoY change
Operating Cash Flow5.6 B C$+4.1%
Capital Expenditures3.4 B C$+12.2%
Free Cash Flow2.2 B C$-6.4%
Dividends Paid-903.9 M C$-227.5%

Peer Comparison· Railroads

CompanyCF MarginFCF MarginCapEx RatioCF/Net Income
CP34.3%13.4%20.9%126.8%
NSC30.8%31.4%23.7%140.6%
CSX32.7%29.2%24.7%151.8%
WAB15.4%14.3%2.5%146.0%
UNP38.5%23.1%15.5%132.0%
AZJ28.2%11.0%17.3%367.2%
Industry median28.2%13.4%17.3%146.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.