TFI International (TFII) financial statements
TFI International reported revenue of $7.9B in fiscal 2025, up 12.4% a year over 6 years.
Net income was $311M and the operating margin 7.2%, against 9.8% in 2019.
Free cash flow was $695M, and the company returned $151M in dividends and $226M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TFI International's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $3.9B | $3.8B | $7.2B | $8.8B | $7.5B | $8.4B | $7.9B |
| Operating income | $383M | $417M | $979M | $1.1B | $758M | $719M | $565M |
| Interest expense | $64M | $57M | -$78M | -$82M | $89M | $172M | $162M |
| Pre-tax income | $321M | $363M | $906M | $1.1B | $677M | $561M | $405M |
| Income tax | $77M | $87M | $152M | $242M | $172M | $138M | $95M |
| Net income | $234M | $276M | $754M | $823M | $505M | $422M | $311M |
| EPS (diluted) | $2.74 | $3.03 | $7.91 | $9.02 | $5.80 | $4.96 | $3.72 |
| Diluted shares | 85M | 91M | 95M | 91M | 87M | 85M | 83M |
| Operating margin | 9.8% | 11.0% | 13.6% | 13.0% | 10.1% | 8.6% | 7.2% |
| Net margin | 6.0% | 7.3% | 10.4% | 9.3% | 6.7% | 5.0% | 3.9% |
Balance sheet
Fiscal years, from TFI International's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $0 | $4M | $19M | $147M | $336M | $0 | $210M |
| Receivables | $452M | $598M | $1.1B | $1.0B | $895M | $928M | $881M |
| Inventory | $11M | $9M | $24M | $24M | $24M | $18M | $20M |
| Total current assets | $527M | $653M | $1.2B | $1.3B | $1.3B | $1.0B | $1.2B |
| Property, plant and equipment | $1.1B | $1.1B | $2.5B | $2.1B | $2.4B | $2.9B | $2.8B |
| Goodwill | $62M | $173M | $49M | $59M | — | — | — |
| Total assets | $3.5B | $3.8B | $5.9B | $5.5B | $6.3B | $7.2B | $7.5B |
| Total current liabilities | $488M | $654M | $1.4B | $967M | $1.1B | $1.0B | $1.2B |
| Long-term debt | $1.3B | $830M | $1.2B | $1.3B | $1.7B | $2.3B | $2.4B |
| Total liabilities | $2.3B | $2.1B | $3.6B | $3.0B | $3.7B | $4.5B | $4.8B |
| Shareholders' equity | $1.2B | $1.8B | $2.2B | $2.5B | $2.6B | $2.7B | $2.7B |
| Net debt | $1.3B | $868M | $1.6B | $1.2B | $1.5B | $2.4B | $2.4B |
Cash flow
Fiscal years, from TFI International's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $488M | $611M | $855M | $972M | $1.0B | $1.1B | $978M |
| Capital spending | $265M | $144M | $276M | $357M | $364M | $399M | $283M |
| Free cash flow | $224M | $466M | $580M | $615M | $650M | $664M | $695M |
| Stock-based compensation | $6M | $7M | $15M | $15M | $13M | $11M | $15M |
| Dividends paid | $60M | $68M | $85M | $97M | $121M | $134M | $151M |
| Share buybacks (net) | -$192M | -$38M | -$198M | -$568M | -$288M | -$77M | -$226M |
| Net borrowing | $225M | -$158M | $617M | -$36M | $534M | -$37M | -$101M |
| Free cash flow margin | 5.7% | 12.3% | 8.0% | 7.0% | 8.6% | 7.9% | 8.8% |
| Dividends per share | $0.71 | $0.74 | $0.90 | $1.07 | $1.39 | $1.57 | $1.81 |
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Open TFII in InvestinglyQuestions
What was TFI International's revenue in 2025?
$7.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does TFI International generate?
$695M in fiscal 2025 (operating cash flow minus capital spending).
From TFI International's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.