ATS (ATS) financial statements

Industrials · Specialty Industrial Machinery · Market cap $1.8B

ATS reported revenue of 2.5B CAD in fiscal 2025, down 0.9% a year over 2 years.

Net income was -28M CAD and the operating margin 0.4%, against 8.6% in 2023.

Free cash flow was -52M CAD, and the company returned 45M CAD in net buybacks.

The diluted share count rose 6% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CAD).

-101234202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CAD, from ATS's 10-K filings with the SEC.

Fiscal year202320242025
Revenue2.6B CAD3.0B CAD2.5B CAD
Cost of revenue1.9B CAD2.2B CAD1.9B CAD
Gross profit726M CAD856M CAD647M CAD
Research and development—10M CAD11M CAD
Selling, general and admin445M CAD504M CAD604M CAD
Operating income222M CAD315M CAD9M CAD
Interest expense61M CAD65M CAD92M CAD
Pre-tax income160M CAD247M CAD-83M CAD
Income tax32M CAD53M CAD-55M CAD
Net income127M CAD194M CAD-28M CAD
EPS (diluted)1.38 CAD1.97 CAD-0.29 CAD
Diluted shares92M99M98M
Gross margin28.2%28.2%25.5%
Operating margin8.6%10.4%0.4%
Net margin4.9%6.4%-1.1%

Balance sheet

Fiscal years, in CAD, from ATS's 10-K filings with the SEC.

Fiscal year202320242025
Cash and short-term investments160M CAD170M CAD226M CAD
Receivables400M CAD471M CAD719M CAD
Inventory257M CAD296M CAD320M CAD
Total current assets1.5B CAD1.8B CAD1.9B CAD
Property, plant and equipment263M CAD297M CAD325M CAD
Goodwill1.1B CAD1.2B CAD1.4B CAD
Total assets3.5B CAD4.1B CAD4.6B CAD
Total current liabilities1.0B CAD1.0B CAD1.1B CAD
Long-term debt1.2B CAD1.2B CAD1.5B CAD
Total liabilities2.4B CAD2.4B CAD2.9B CAD
Shareholders' equity1.1B CAD1.7B CAD1.7B CAD
Net debt1.0B CAD1.0B CAD1.3B CAD

Cash flow

Fiscal years, in CAD, from ATS's 10-K filings with the SEC.

Fiscal year202320242025
Operating cash flow128M CAD21M CAD26M CAD
Capital spending80M CAD88M CAD78M CAD
Free cash flow48M CAD-68M CAD-52M CAD
Stock-based compensation5M CAD11M CAD11M CAD
Share buybacks (net)-21M CAD-14,000 CAD-45M CAD
Net borrowing51M CAD18M CAD333M CAD
Free cash flow margin1.8%-2.2%-2.1%
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Questions

What was ATS's revenue in 2025?

2.5B CAD in fiscal 2025, from its 10-K filing.

How much free cash flow does ATS generate?

-52M CAD in fiscal 2025 (operating cash flow minus capital spending).

From ATS's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.