Titan America SA (TTAM) financial statements
Titan America SA reported revenue of $1.7B in fiscal 2025, up 6.9% a year over 3 years.
Net income was $185M and the operating margin 16.1%, against 7.1% in 2022.
Free cash flow was $131M.
The diluted share count rose 5% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Titan America SA's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $1.4B | $1.6B | $1.6B | $1.7B |
| Cost of revenue | $1.1B | $1.2B | $1.2B | $1.2B |
| Gross profit | $221M | $363M | $417M | $435M |
| Selling, general and admin | $117M | $131M | $163M | $164M |
| Operating income | $97M | $226M | $251M | $268M |
| Interest expense | $19M | $22M | $26M | $23M |
| Pre-tax income | $80M | $202M | $224M | $245M |
| Income tax | $17M | $47M | $58M | $59M |
| Net income | $63M | $155M | $166M | $185M |
| EPS (diluted) | $0.36 | $0.89 | $0.95 | $1.01 |
| Diluted shares | 175M | 175M | 175M | 183M |
| Gross margin | 16.2% | 22.8% | 25.5% | 26.1% |
| Operating margin | 7.1% | 14.2% | 15.4% | 16.1% |
| Net margin | 4.6% | 9.8% | 10.2% | 11.1% |
Balance sheet
Fiscal years, from Titan America SA's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $30M | $22M | $12M | $212M |
| Receivables | — | $56M | $48M | $54M |
| Inventory | — | $190M | $228M | $226M |
| Total current assets | — | $373M | $384M | $610M |
| Property, plant and equipment | $748M | $801M | $852M | $930M |
| Goodwill | — | $222M | $222M | $222M |
| Total assets | — | $1.5B | $1.6B | $1.9B |
| Total current liabilities | — | $492M | $239M | $201M |
| Long-term debt | — | $76M | $358M | $390M |
| Total liabilities | — | $779M | $816M | $860M |
| Shareholders' equity | $593M | $720M | $750M | $1.0B |
| Net debt | -$30M | $54M | $346M | $179M |
Cash flow
Fiscal years, from Titan America SA's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $178M | $227M | $248M | $295M |
| Capital spending | $128M | $119M | $137M | $164M |
| Free cash flow | $50M | $108M | $111M | $131M |
| Dividends paid | $0 | $34M | $85M | $0 |
| Share buybacks (net) | $0 | $0 | -$52M | $0 |
| Net borrowing | -$1M | $8M | $46M | -$21M |
| Free cash flow margin | 3.7% | 6.8% | 6.8% | 7.9% |
| Dividends per share | — | $0.19 | $0.49 | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for TTAM.
Open TTAM in InvestinglyQuestions
What was Titan America SA's revenue in 2025?
$1.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Titan America SA generate?
$131M in fiscal 2025 (operating cash flow minus capital spending).
From Titan America SA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.