EMA vs TAC
Emera Inc. and Transalta Corp., side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | EMA | TAC |
|---|---|---|
| Revenue | CAD 8.8B | CAD 2.4B |
| Net income | CAD 1.1B | CAD -138.0M |
| Gross margin | · | 59.0% |
| Net margin | 12.4% | −6.6% |
| Return on equity | · | −8.8% |
| Diluted EPS | CAD 3.38 | −CAD 0.64 |
| Dividend / share | CAD 2.91 | · |
| Payout ratio | · | · |
| Free cash flow | CAD -1.7B | CAD 397.0M |
| Equity | CAD 13.4B | CAD 1.4B |
| Net debt / equity | · | 2.42× |
| Current ratio | 0.66× | 0.73× |
| Revenue CAGR 5y | 9.8% | 2.7% |
| Profit CAGR 5y | 2.1% | · |
EMA bills 3.6× the revenue of TAC, and TAC closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | EMA | TAC |
|---|---|---|
| FY2025 | CAD 8.8B | CAD 2.4B |
| FY2024 | CAD 7.2B | CAD 2.8B |
| FY2023 | CAD 7.6B | CAD 3.4B |
| FY2022 | CAD 7.6B | CAD 3.0B |
| FY2021 | CAD 5.8B | CAD 2.7B |
| FY2020 | CAD 5.5B | CAD 2.1B |
| FY2019 | CAD 6.1B | CAD 2.3B |
| FY2018 | CAD 6.5B | CAD 2.2B |
| FY2017 | CAD 6.2B | CAD 2.3B |
| FY2016 | CAD 4.3B | CAD 2.4B |
Bottom line
| Fiscal year | EMA | TAC |
|---|---|---|
| FY2025 | CAD 1.1B | CAD -138.0M |
| FY2024 | CAD 568.0M | CAD 229.0M |
| FY2023 | CAD 1.0B | CAD 695.0M |
| FY2022 | CAD 1.0B | CAD 50.0M |
| FY2021 | CAD 561.0M | CAD -537.0M |
| FY2020 | CAD 984.0M | CAD -287.0M |
| FY2019 | CAD 710.0M | CAD 82.0M |
| FY2018 | CAD 747.0M | CAD -198.0M |
| FY2017 | CAD 299.0M | CAD -160.0M |
| FY2016 | CAD 227.0M | CAD 169.0M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CAD 6,371,000,000 | EMA |
| FY2024 | +CAD 4,355,000,000 | EMA |
| FY2023 | +CAD 4,208,000,000 | EMA |
| FY2022 | +CAD 4,612,000,000 | EMA |
| FY2021 | +CAD 3,044,000,000 | EMA |
| FY2020 | +CAD 3,405,000,000 | EMA |
| FY2019 | +CAD 3,764,000,000 | EMA |
| FY2018 | +CAD 4,275,000,000 | EMA |
| FY2017 | +CAD 3,919,000,000 | EMA |
| FY2016 | +CAD 1,880,000,000 | EMA |
| FY2015 | +CAD 522,000,000 | EMA |
EMA has reported the higher revenue in every one of these 11 fiscal years. The gap has widened since the earliest year compared.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +19.0 pp | EMA |
| FY2024 | −0.5 pp | TAC |
| FY2023 | −9.9 pp | TAC |
| FY2022 | +7.9 pp | EMA |
| FY2021 | +25.4 pp | EMA |
| FY2020 | +29.9 pp | EMA |
| FY2019 | +4.1 pp | EMA |
| FY2018 | +15.5 pp | EMA |
| FY2017 | +9.9 pp | EMA |
| FY2016 | −5.3 pp | TAC |
| FY2015 | +11.1 pp | EMA |
The higher net margin has changed hands between EMA and TAC over this period.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TAC's net margin has been more volatile than EMA's over the 11 comparable fiscal years — 11.0 percentage points of standard deviation against 3.8.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between EMA and TAC over these 11 fiscal years — EMA led in 8 and TAC in 3.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.