Emera (EMA) financial statements

Utilities · Utilities - Regulated Electric · Market cap $13.9B

Emera reported revenue of 8.8B CAD in fiscal 2025, up 8.3% a year over 9 years.

Net income was 1.0B CAD and the operating margin 22.5%, against 13.0% in 2016.

Free cash flow was -1.7B CAD, and the company returned 576M CAD in dividends.

The diluted share count rose 74% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CAD).

-505102016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

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

Fiscal year2016201720182019202020212022202320242025
Revenue4.3B CAD6.2B CAD6.5B CAD6.1B CAD5.5B CAD5.8B CAD7.6B CAD7.6B CAD7.2B CAD8.8B CAD
Operating income555M CAD1.4B CAD1.4B CAD1.3B CAD1.1B CAD930M CAD1.6B CAD1.8B CAD1.1B CAD2.0B CAD
Interest expense598M CAD705M CAD724M CAD———727M CAD954M CAD1.0B CAD1.0B CAD
Pre-tax income244M CAD819M CAD816M CAD771M CAD1.3B CAD555M CAD1.2B CAD1.2B CAD409M CAD1.2B CAD
Income tax-22M CAD520M CAD69M CAD61M CAD341M CAD-6M CAD185M CAD128M CAD-159M CAD81M CAD
Net income227M CAD266M CAD710M CAD663M CAD938M CAD510M CAD945M CAD978M CAD494M CAD1.0B CAD
EPS (diluted)1.32 CAD1.24 CAD3.04 CAD2.76 CAD3.78 CAD1.98 CAD3.55 CAD3.57 CAD1.71 CAD3.38 CAD
Diluted shares172M214M234M240M248M258M266M274M289M300M
Operating margin13.0%22.8%21.4%22.0%20.8%16.1%21.5%23.7%15.0%22.5%
Net margin5.3%4.3%10.9%10.8%17.0%8.9%12.5%12.9%6.9%11.6%

Balance sheet

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

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments491M CAD438M CAD316M CAD222M CAD220M CAD394M CAD310M CAD567M CAD196M CAD349M CAD
Receivables972M CAD—————————
Inventory472M CAD418M CAD474M CAD467M CAD453M CAD538M CAD769M CAD790M CAD781M CAD821M CAD
Total current assets2.5B CAD2.5B CAD2.8B CAD2.5B CAD2.2B CAD3.1B CAD4.9B CAD3.7B CAD3.7B CAD4.4B CAD
Property, plant and equipment17.3B CAD17.0B CAD18.7B CAD18.2B CAD19.5B CAD20.4B CAD23.0B CAD24.4B CAD26.2B CAD27.4B CAD
Goodwill6.2B CAD5.8B CAD6.3B CAD5.8B CAD5.7B CAD5.7B CAD6.0B CAD5.9B CAD5.9B CAD5.6B CAD
Total assets29.2B CAD28.8B CAD32.3B CAD31.8B CAD31.2B CAD34.2B CAD39.7B CAD39.5B CAD43.0B CAD44.8B CAD
Total current liabilities3.7B CAD3.9B CAD4.6B CAD4.2B CAD4.9B CAD4.9B CAD7.3B CAD4.5B CAD5.1B CAD6.6B CAD
Long-term debt14.3B CAD13.1B CAD14.3B CAD13.7B CAD12.3B CAD14.2B CAD15.7B CAD17.7B CAD18.2B CAD18.5B CAD
Total liabilities22.4B CAD21.6B CAD24.0B CAD23.2B CAD22.0B CAD24.1B CAD28.3B CAD27.4B CAD29.7B CAD31.4B CAD
Shareholders' equity6.7B CAD7.1B CAD8.3B CAD8.6B CAD9.2B CAD10.1B CAD11.4B CAD12.1B CAD13.3B CAD13.4B CAD
Net debt14.3B CAD13.4B CAD15.1B CAD14.0B CAD13.5B CAD14.4B CAD16.0B CAD17.8B CAD18.2B CAD19.3B CAD

Cash flow

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

Fiscal year2016201720182019202020212022202320242025
Operating cash flow1.1B CAD1.2B CAD1.7B CAD1.5B CAD1.6B CAD1.2B CAD913M CAD2.2B CAD2.6B CAD1.8B CAD
Capital spending1.1B CAD1.5B CAD2.2B CAD2.5B CAD2.6B CAD2.4B CAD2.6B CAD2.9B CAD3.2B CAD3.5B CAD
Free cash flow-27M CAD-336M CAD-472M CAD-970M CAD-986M CAD-1.2B CAD-1.7B CAD-696M CAD-505M CAD-1.7B CAD
Dividends paid221M CAD287M CAD382M CAD423M CAD454M CAD443M CAD472M CAD488M CAD538M CAD576M CAD
Net borrowing6.3B CAD-355M CAD136M CAD376M CAD11M CAD894M CAD417M CAD1.8B CAD275M CAD1.8B CAD
Free cash flow margin-0.6%-5.4%-7.2%-15.9%-17.9%-20.4%-22.2%-9.2%-7.0%-19.7%
Dividends per share1.28 CAD1.34 CAD1.64 CAD1.76 CAD1.83 CAD1.72 CAD1.78 CAD1.78 CAD1.86 CAD1.92 CAD
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Questions

What was Emera's revenue in 2025?

8.8B CAD in fiscal 2025, from its 10-K filing.

How much free cash flow does Emera generate?

-1.7B CAD in fiscal 2025 (operating cash flow minus capital spending).

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