TransAlta (TAC) financial statements
TransAlta reported revenue of 2.4B CAD in fiscal 2025, up 0.0% a year over 9 years.
Net income was -138M CAD and the operating margin 5.8%, against 19.9% in 2016.
Free cash flow was 386M CAD, and the company returned 52M CAD in dividends and 24M CAD in net buybacks.
The diluted share count rose 3% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions (CAD).
Income statement
Fiscal years, in CAD, from TransAlta's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.4B CAD | 2.3B CAD | 2.2B CAD | 2.3B CAD | 2.1B CAD | 2.7B CAD | 3.0B CAD | 3.4B CAD | 2.8B CAD | 2.4B CAD |
| Cost of revenue | 963M CAD | 1.0B CAD | 1.1B CAD | 1.1B CAD | 968M CAD | — | — | — | — | — |
| Gross profit | 1.4B CAD | 1.3B CAD | 1.1B CAD | 1.3B CAD | 1.1B CAD | 1.5B CAD | 1.6B CAD | 2.2B CAD | 1.8B CAD | 1.4B CAD |
| Selling, general and admin | 489M CAD | 517M CAD | 515M CAD | 475M CAD | 472M CAD | 511M CAD | 521M CAD | 539M CAD | 655M CAD | 711M CAD |
| Operating income | 478M CAD | 138M CAD | 160M CAD | 335M CAD | -99M CAD | -239M CAD | 531M CAD | 1.1B CAD | 585M CAD | 140M CAD |
| Interest expense | 229M CAD | 247M CAD | 250M CAD | 179M CAD | — | — | 286M CAD | 281M CAD | 324M CAD | 347M CAD |
| Pre-tax income | 314M CAD | -54M CAD | -96M CAD | 193M CAD | -303M CAD | -380M CAD | 353M CAD | 880M CAD | 319M CAD | -141M CAD |
| Income tax | 38M CAD | 64M CAD | -6M CAD | 17M CAD | -50M CAD | 45M CAD | 192M CAD | 84M CAD | 80M CAD | 17M CAD |
| Net income | 169M CAD | -160M CAD | -198M CAD | 82M CAD | -287M CAD | -537M CAD | 50M CAD | 695M CAD | 229M CAD | -138M CAD |
| EPS (diluted) | — | — | — | 0.18 CAD | -1.22 CAD | -2.13 CAD | 0.01 CAD | 2.33 CAD | 0.59 CAD | -0.64 CAD |
| Diluted shares | 288M | 288M | 287M | 283M | 275M | 271M | 271M | 276M | 302M | 297M |
| Gross margin | 59.8% | 56.0% | 51.1% | 53.7% | 53.9% | 54.7% | 54.9% | 65.1% | 63.1% | 59.0% |
| Operating margin | 19.9% | 6.0% | 7.1% | 14.3% | -4.7% | -8.8% | 17.8% | 32.5% | 20.6% | 5.8% |
| Net margin | 7.1% | -6.9% | -8.8% | 3.5% | -13.7% | -19.7% | 1.7% | 20.7% | 8.0% | -5.7% |
Balance sheet
Fiscal years, in CAD, from TransAlta's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | 305M CAD | 314M CAD | 89M CAD | 411M CAD | 703M CAD | 947M CAD | 1.1B CAD | 348M CAD | 337M CAD | 205M CAD |
| Receivables | 703M CAD | 933M CAD | 756M CAD | 462M CAD | 583M CAD | 651M CAD | 1.6B CAD | 807M CAD | 767M CAD | 699M CAD |
| Inventory | 213M CAD | 219M CAD | 242M CAD | 251M CAD | 238M CAD | 167M CAD | 157M CAD | 157M CAD | 134M CAD | 111M CAD |
| Total current assets | 1.6B CAD | 1.7B CAD | 1.3B CAD | 1.3B CAD | 1.9B CAD | 2.2B CAD | 3.7B CAD | 1.6B CAD | 1.8B CAD | 1.3B CAD |
| Property, plant and equipment | 6.8B CAD | 6.6B CAD | 6.2B CAD | 6.2B CAD | 5.8B CAD | 5.3B CAD | 5.6B CAD | 5.7B CAD | 6.0B CAD | 5.7B CAD |
| Goodwill | 464M CAD | 463M CAD | 464M CAD | 464M CAD | 463M CAD | 463M CAD | 464M CAD | 464M CAD | 517M CAD | 516M CAD |
| Total assets | 11.0B CAD | 10.3B CAD | 9.4B CAD | 9.5B CAD | 9.7B CAD | 9.2B CAD | 10.7B CAD | 8.7B CAD | 9.5B CAD | 8.7B CAD |
| Total current liabilities | 1.2B CAD | 1.6B CAD | 880M CAD | 1.1B CAD | 935M CAD | 1.9B CAD | 2.9B CAD | 1.7B CAD | 2.6B CAD | 1.8B CAD |
| Long-term debt | 3.7B CAD | 3.0B CAD | 3.1B CAD | 2.7B CAD | 3.3B CAD | 2.4B CAD | 3.5B CAD | 2.9B CAD | 3.2B CAD | 3.4B CAD |
| Total liabilities | 6.3B CAD | 4.9B CAD | 5.9B CAD | 4.8B CAD | 6.1B CAD | 6.6B CAD | 8.8B CAD | 7.0B CAD | 7.7B CAD | 7.2B CAD |
| Shareholders' equity | 3.5B CAD | 3.3B CAD | 3.0B CAD | 3.0B CAD | 2.4B CAD | 1.6B CAD | 1.1B CAD | 1.5B CAD | 1.7B CAD | 1.4B CAD |
| Net debt | 4.1B CAD | 3.4B CAD | 3.2B CAD | 2.8B CAD | 2.7B CAD | 2.3B CAD | 2.5B CAD | 3.1B CAD | 3.5B CAD | 3.4B CAD |
Cash flow
Fiscal years, in CAD, from TransAlta's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 744M CAD | 626M CAD | 820M CAD | 849M CAD | 702M CAD | 1.0B CAD | 877M CAD | 1.5B CAD | 796M CAD | 646M CAD |
| Capital spending | 379M CAD | 389M CAD | 297M CAD | 431M CAD | 500M CAD | 489M CAD | 949M CAD | 888M CAD | 321M CAD | 260M CAD |
| Free cash flow | 365M CAD | 237M CAD | 523M CAD | 418M CAD | 202M CAD | 512M CAD | -72M CAD | 576M CAD | 475M CAD | 386M CAD |
| Dividends paid | 52M CAD | 30M CAD | 50M CAD | 30M CAD | 49M CAD | 39M CAD | 46M CAD | 51M CAD | 52M CAD | 52M CAD |
| Share buybacks (net) | 0 CAD | 0 CAD | -23M CAD | -68M CAD | -57M CAD | -4M CAD | -52M CAD | -87M CAD | -143M CAD | -24M CAD |
| Net borrowing | -88M CAD | -814M CAD | -1.2B CAD | -96M CAD | -489M CAD | -92M CAD | -621M CAD | -164M CAD | -131M CAD | -736M CAD |
| Free cash flow margin | 15.2% | 10.3% | 23.3% | 17.8% | 9.6% | 18.8% | -2.4% | 17.2% | 16.7% | 16.0% |
| Dividends per share | 0.18 CAD | 0.10 CAD | 0.17 CAD | 0.11 CAD | 0.18 CAD | 0.14 CAD | 0.17 CAD | 0.18 CAD | 0.17 CAD | 0.18 CAD |
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Open TAC in InvestinglyQuestions
What was TransAlta's revenue in 2025?
2.4B CAD in fiscal 2025, from its 10-K filing.
How much free cash flow does TransAlta generate?
386M CAD in fiscal 2025 (operating cash flow minus capital spending).
From TransAlta's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.