M 
26.96
+0.22%
Close of 9 Nov 2026, in CAD
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At a glance
Figures in CAD, from our data supplier.
Revenue
C$3.91bn
FY2016FY2025
Net income
C$541.6m
FY2016FY2025
Free cash flow
C$310.2m
FY2016FY2025
Shareholders' equity
C$1.32bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$3.91bn | C$4.90bn | C$4.87bn | C$4.74bn | C$4.52bn | C$4.30bn | C$3.94bn | C$3.50bn | C$3.52bn | C$3.33bn |
| Gross profit | C$666.2m | C$780.0m | C$451.4m | C$424.1m | C$659.1m | C$703.1m | C$591.0m | C$551.8m | C$587.5m | C$590.9m |
| Operating income | C$268.8m | C$342.9m | C$46.3m | −C$7.6m | C$192.0m | C$193.9m | C$116.6m | C$195.3m | C$238.9m | C$266.1m |
| Net income | C$541.6m | C$96.6m | −C$125.0m | −C$311.9m | C$102.8m | C$113.3m | C$74.6m | C$101.3m | C$164.1m | C$181.7m |
| Diluted earnings per share | 4.23 | 0.78 | -1.02 | -2.55 | 0.82 | 0.92 | 0.61 | 0.82 | 1.26 | 1.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | C$3.54bn | C$4.43bn | C$4.60bn | C$4.44bn | C$4.39bn | C$3.86bn | C$3.51bn | C$3.14bn | C$2.63bn | C$2.63bn |
| Cash and short-term investments | C$143.4m | C$175.9m | C$203.4m | C$91.1m | C$162.0m | C$100.8m | C$97.3m | C$72.6m | C$203.4m | C$403.6m |
| Total liabilities | C$2.22bn | C$2.89bn | C$3.09bn | C$2.78bn | C$2.35bn | C$1.93bn | C$1.56bn | C$1.13bn | C$581.0m | C$544.6m |
| Debt | C$1.23bn | C$1.88bn | C$2.13bn | C$1.89bn | C$1.43bn | C$986.2m | C$782.8m | C$383.4m | C$12.3m | C$9.9m |
| Shareholders' equity | C$1.32bn | C$1.54bn | C$1.51bn | C$1.66bn | C$2.04bn | C$1.93bn | C$1.95bn | C$2.01bn | C$2.05bn | C$2.09bn |
| Shares outstanding | 128m | 124m | 122m | 123m | 125m | 123m | 123m | 124m | 131m | 137m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | C$435.5m | C$464.9m | C$176.9m | C$49.3m | C$304.8m | C$321.4m | C$270.2m | C$299.7m | C$386.7m | C$357.2m |
| Capital spending | −C$125.3m | −C$95.5m | −C$198.2m | −C$355.7m | −C$580.3m | −C$432.5m | −C$270.7m | −C$179.9m | −C$142.2m | −C$113.2m |
| Free cash flow | C$310.2m | C$369.4m | −C$21.3m | −C$306.4m | −C$275.6m | −C$111.1m | −C$565,000 | C$119.8m | C$244.4m | C$244.0m |
| Dividends paid | −C$177.8m | −C$86.7m | −C$92.5m | −C$99.1m | −C$89.1m | −C$78.9m | −C$71.8m | −C$65.1m | −C$56.6m | −C$48.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | C$1.02bn | C$962.9m | C$991.2m | C$1.01bn | C$1.36bn | C$1.24bn | C$1.22bn | C$1.26bn |
| Gross profit | C$192.2m | C$180.4m | C$158.4m | C$162.8m | C$235.7m | C$217.8m | C$236.3m | C$186.2m |
| Operating income | C$87.7m | C$78.5m | C$65.2m | C$61.3m | C$105.8m | C$98.4m | C$108.3m | C$77.7m |
| Net income | C$40.8m | C$46.1m | C$391.2m | C$43.1m | C$57.8m | C$49.6m | C$53.5m | C$17.7m |
| Diluted earnings per share | 0.32 | 0.36 | 3.06 | 0.34 | 0.45 | 0.39 | 0.43 | 0.14 |
| Cash from operations | C$5.0m | C$54.0m | C$114.0m | C$72.0m | C$239.0m | C$9.0m | C$155.0m | C$176.0m |
| Capital spending | −C$22.0m | −C$21.0m | −C$48.0m | −C$27.0m | −C$24.0m | −C$24.0m | −C$29.0m | −C$26.0m |
| Free cash flow | −C$17.0m | C$33.0m | C$66.0m | C$45.0m | C$215.0m | −C$15.0m | C$126.0m | C$150.0m |
| Total assets | C$3.63bn | C$3.57bn | C$3.54bn | C$4.45bn | C$4.45bn | C$4.44bn | C$4.43bn | C$4.45bn |
| Cash and short-term investments | C$167.9m | C$136.1m | C$143.4m | C$187.5m | C$236.0m | C$119.1m | C$175.9m | C$181.8m |
| Debt | C$19.0m | C$1.16bn | C$1.23bn | C$1.64bn | C$1.76bn | C$1.86bn | C$1.88bn | C$1.97bn |
| Shareholders' equity | C$1.36bn | C$1.35bn | C$1.32bn | C$1.63bn | C$1.59bn | C$1.57bn | C$1.54bn | C$1.51bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.0% | 15.9% | 9.3% | 8.9% | 14.6% | 16.3% |
| Operating margin | 5.1% | 6.0% | 0.0% | -5.2% | 3.8% | 4.4% |
| Net margin | 13.8% | 2.0% | -2.6% | -6.6% | 2.3% | 2.6% |
| Return on equity | 41.0% | 6.3% | -8.3% | -18.8% | 5.1% | 5.9% |
| Return on assets | 15.3% | 2.2% | -2.7% | -7.0% | 2.3% | 2.9% |
| Free cash flow yield | 13.2% | 14.5% | 5.6% | 1.6% | 9.4% | 10.1% |
| Revenue growth | -20.1% | 0.6% | 2.7% | 4.8% | 5.1% | 9.2% |
| Earnings growth | 460.7% | -177.3% | -59.9% | -403.3% | -9.2% | 51.8% |
| Current ratio | 1.29x | 1.23x | 1.17x | 1.65x | 1.40x | 1.32x |
| Debt to equity | 0.88x | 1.13x | 1.31x | 1.05x | 0.63x | 0.43x |
| Equity ratio | 37.3% | 34.7% | 32.9% | 37.4% | 46.4% | 50.1% |
| Interest coverage | 2.09x | 1.82x | 0.01x | -4.42x | 7.55x | 6.08x |
| Buybacks as a share of market value | -3.0% | -1.6% | 0.2% | 2.2% | -1.7% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.2% | -1.9% | 1.7% |
| Operating income | — | 6.7% | 12.8% |
| Net income | — | 36.7% | 29.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.4% | 12.6% | 13.5% | 14.2% |
| Operating margin | 6.9% | 3.5% | 3.8% | 4.3% |
| Net margin | 7.2% | 1.1% | 1.5% | 2.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.9 | 26.2 | -24.7 | -9.6 | 35.7 | 30.7 | 42.6 | 33.4 | 28.5 | 21.2 |
| Price to sales | 0.8 | 0.5 | 0.6 | 0.6 | 0.8 | 0.8 | 0.8 | 1.0 | 1.3 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 37 years. Last went ex-dividend on 8 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.63 | 1.51 | 0.88 | 0.84 | 0.80 | 0.72 | 0.64 | 0.58 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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