TransAlta (TAC) revenue breakdown
By segment, Gas is the largest at 47% of fiscal 2025 revenue; Hydro grew fastest, 13% a year over 7 years.
By product, Power and other is the largest at 42% of fiscal 2025 revenue; Revenue from merchant sales grew fastest, 12% a year over 5 years.
Revenue by segment
Fiscal years, as TransAlta reports them in its 10-K filings; fiscal 2025 total $2.8B.
| Segments | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Gas | — | $887M | $848M | $1.1B | $1.2B | $1.5B | $1.3B | $1.3B | 47% |
| Energy Transition | — | $893M | $690M | $709M | $714M | $751M | $580M | $504M | 18% |
| Wind and Solar | $282M | $295M | $334M | $305M | $289M | $336M | $449M | $500M | 18% |
| Hydro | $156M | $156M | $152M | $383M | $606M | $533M | $390M | $364M | 13% |
| Energy Marketing | $67M | $119M | $133M | $211M | $160M | $220M | $182M | $122M | 4% |
| Alberta Thermal | $912M | — | — | — | — | — | — | — | — |
| Centralia | $442M | — | — | — | — | — | — | — | — |
| North American Gas | $232M | — | — | — | — | — | — | — | — |
| Australian Gas | $165M | — | — | — | — | — | — | — | — |
| Corporate | — | — | $7M | — | — | — | — | — | — |
| Corporate | -$7M | -$6M | — | — | — | — | — | — | — |
| Corporate | — | — | — | — | — | — | -$34M | -$61M | -2% |
Revenue by product
Fiscal years, as TransAlta reports them in its 10-K filings; fiscal 2025 total $2.4B.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Power and other | $1.2B | $1.0B | $1.0B | $654M | $725M | $646M | $784M | $999M | 42% |
| Revenue from merchant sales | — | — | $516M | $1.7B | $2.7B | $2.3B | $1.2B | $900M | 37% |
| Revenue from derivatives and other trading activities | $165M | $296M | $417M | $213M | -$541M | $327M | $708M | $331M | 14% |
| Environmental and tax attributes | — | $23M | $23M | $28M | $51M | $40M | $106M | $119M | 5% |
| Other | — | — | $22M | $73M | $68M | $69M | $52M | $56M | 2% |
| Others | — | $853M | — | — | — | — | — | — | — |
| Other | $737M | — | — | — | — | — | — | — | — |
| Revenue from leases | $170M | $130M | $123M | $19M | — | — | — | — | — |
| Government incentives | $16M | — | — | — | — | — | — | — | — |
Revenue by region
Fiscal years, as TransAlta reports them in its 10-K filings; fiscal 2025 total $2.4B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Canada | $1.8B | $1.7B | $1.6B | $1.5B | $1.2B | $1.9B | $1.9B | $2.2B | $2.0B | $1.8B | 73% |
| U.S. | $450M | $509M | $511M | $727M | $716M | $731M | $940M | $987M | $676M | $497M | 21% |
| Western Australia | $119M | $135M | $165M | $160M | $158M | $136M | $131M | $150M | $160M | $149M | 6% |
Questions
Where does TransAlta make its money?
In fiscal 2025, by segment: Gas $1.3B, Energy Transition $504M, Wind and Solar $500M, Hydro $364M, Energy Marketing $122M.
From TransAlta's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.