122.22
+3.07%
Close of 9 Nov 2026, in CAD
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At a glance
Figures in CAD, from our data supplier.
Revenue
C$3.28bn
FY2016FY2025
Net income
C$167.5m
FY2016FY2025
Free cash flow
−C$80.4m
FY2016FY2025
Shareholders' equity
C$1.76bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$3.28bn | C$2.66bn | C$2.50bn | C$2.06bn | C$1.41bn | C$1.15bn | C$1.34bn | C$1.20bn | C$1.01bn | C$891.0m |
| Gross profit | C$812.1m | C$657.7m | C$594.5m | C$491.3m | C$334.5m | C$273.8m | C$363.0m | C$322.6m | C$279.7m | C$241.8m |
| Operating income | C$369.5m | C$317.6m | C$289.7m | C$236.7m | C$146.5m | C$93.9m | C$169.4m | C$140.5m | C$132.3m | C$117.2m |
| Net income | C$167.5m | C$121.2m | C$122.3m | C$109.7m | C$68.6m | C$28.1m | C$83.6m | C$70.8m | C$72.2m | C$61.5m |
| Diluted earnings per share | 2.50 | 2.50 | 2.57 | 2.21 | 1.73 | 0.77 | 2.41 | 2.20 | 2.24 | 1.94 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | C$5.26bn | C$4.60bn | C$4.08bn | C$3.55bn | C$2.59bn | C$2.29bn | C$2.27bn | C$1.96bn | C$1.75bn | C$1.42bn |
| Cash and short-term investments | C$145.8m | C$71.8m | C$103.6m | C$139.9m | C$75.4m | C$69.9m | C$22.1m | C$43.0m | C$72.3m | C$26.5m |
| Total liabilities | C$3.50bn | C$3.19bn | C$2.83bn | C$2.53bn | C$1.79bn | C$1.61bn | C$1.54bn | C$1.34bn | C$1.17bn | C$938.4m |
| Debt | C$2.43bn | C$2.33bn | C$2.01bn | C$1.78bn | C$1.29bn | C$1.21bn | C$1.14bn | C$981.3m | C$848.4m | C$658.7m |
| Shareholders' equity | C$1.76bn | C$1.41bn | C$1.25bn | C$1.02bn | C$800.3m | C$685.9m | C$729.8m | C$617.2m | C$577.5m | C$486.1m |
| Shares outstanding | 67m | 49m | 48m | 50m | 40m | 36m | 35m | 32m | 32m | 32m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | C$647.9m | C$357.0m | C$353.2m | C$335.1m | C$285.0m | C$260.0m | C$217.2m | C$164.6m | C$124.8m | C$136.8m |
| Capital spending | −C$728.3m | −C$490.4m | −C$505.8m | −C$366.6m | −C$279.4m | −C$146.3m | −C$254.9m | −C$191.2m | −C$267.0m | −C$266.1m |
| Free cash flow | −C$80.4m | −C$133.4m | −C$152.6m | −C$31.5m | C$5.6m | C$113.7m | −C$37.6m | −C$26.6m | −C$142.3m | −C$129.2m |
| Dividends paid | −C$139.9m | −C$125.9m | −C$114.6m | −C$97.5m | −C$85.4m | −C$80.0m | −C$72.7m | −C$68.5m | −C$65.1m | −C$56.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | C$952.2m | C$866.6m | C$929.5m | C$959.7m | C$719.9m | C$668.3m | C$687.7m | C$709.9m |
| Gross profit | C$244.3m | C$185.9m | C$232.1m | C$248.9m | C$184.4m | C$146.8m | C$176.6m | C$197.3m |
| Operating income | C$115.5m | C$59.6m | C$104.0m | C$124.8m | C$89.5m | C$46.8m | C$84.8m | C$110.8m |
| Net income | C$56.9m | C$27.9m | C$51.6m | C$68.7m | C$40.0m | C$7.2m | C$28.2m | C$55.9m |
| Diluted earnings per share | 0.99 | 0.49 | 0.77 | 1.02 | 0.60 | 0.11 | 0.58 | 1.15 |
| Cash from operations | C$116.0m | C$132.0m | C$280.0m | C$185.0m | C$92.0m | C$89.0m | C$140.0m | C$124.0m |
| Capital spending | −C$200.0m | −C$148.0m | −C$289.0m | −C$224.0m | −C$94.0m | −C$121.0m | −C$126.0m | −C$165.0m |
| Free cash flow | −C$84.0m | −C$16.0m | −C$9.0m | −C$39.0m | −C$2.0m | −C$32.0m | C$14.0m | −C$41.0m |
| Total assets | C$5.63bn | C$5.43bn | C$5.26bn | C$5.23bn | C$4.77bn | C$4.61bn | C$4.60bn | C$4.31bn |
| Cash and short-term investments | C$82.0m | C$121.2m | C$145.8m | C$81.8m | C$230.8m | C$54.2m | C$71.8m | C$58.6m |
| Debt | C$61.0m | C$2.32bn | C$2.49bn | C$2.51bn | C$2.46bn | C$2.28bn | C$2.33bn | C$2.21bn |
| Shareholders' equity | C$1.83bn | C$1.78bn | C$1.76bn | C$1.64bn | C$1.45bn | C$1.46bn | C$1.41bn | C$1.27bn |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 24.8% | 24.7% | 23.8% | 23.9% | 23.7% | 23.8% |
| Operating margin | 11.0% | 11.5% | 11.3% | 11.2% | 10.4% | 8.2% |
| Net margin | 5.1% | 4.6% | 4.9% | 5.3% | 4.9% | 2.4% |
| Return on equity | 9.5% | 8.6% | 9.8% | 10.8% | 8.6% | 4.1% |
| Return on assets | 3.2% | 2.6% | 3.0% | 3.1% | 2.6% | 1.2% |
| Free cash flow yield | 17.6% | 14.9% | 15.5% | 12.1% | 12.2% | 9.5% |
| Revenue growth | 23.2% | 6.5% | 21.3% | 45.7% | 22.9% | -14.3% |
| Earnings growth | 38.2% | -0.9% | 11.5% | 59.9% | 144.5% | -66.5% |
| Current ratio | 1.71x | 1.97x | 1.87x | 1.80x | 1.47x | 2.10x |
| Debt to equity | 1.27x | 1.56x | 1.50x | 1.61x | 1.53x | 1.65x |
| Equity ratio | 33.4% | 30.7% | 30.5% | 28.7% | 30.9% | 29.9% |
| Interest coverage | 2.73x | 2.22x | 2.36x | 2.93x | 2.81x | 1.84x |
| Buybacks as a share of market value | -38.1% | -2.1% | 4.0% | -25.0% | -8.7% | -5.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.8% | 23.3% | 15.0% |
| Operating income | 16.0% | 31.5% | 14.6% |
| Net income | 15.2% | 43.0% | 15.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.8% | 24.4% | 24.2% | 25.0% |
| Operating margin | 11.6% | 11.6% | 11.1% | 11.5% |
| Net margin | 4.9% | 5.0% | 4.7% | 5.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 32.8 | 23.6 | 17.6 | 23.8 | 24.4 | 47.6 | 18.6 | 12.9 | 15.9 | 21.5 |
| Price to sales | 1.7 | 1.1 | 0.9 | 1.3 | 1.2 | 1.2 | 1.2 | 0.8 | 1.1 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 22 years. Last went ex-dividend on 29 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.09 | 2.66 | 2.64 | 2.54 | 2.41 | 2.28 | 2.28 | 2.228 |
- 20-to-1 reverse split · 10 May 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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