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MARKETS / NYSE / Industrials / Railroads / CP
NYSE · RAILROADS, LINE-HAUL OPERATING · LARGE CAP

Canadian Pacific Kansas City Ltd. CP

18 fiscal years on record · CAD · FY2025 reported · SEC filings only
CAD 15.1B
▲ 3.7% YoY
CAD 4.1B
▲ 11.4% YoY
CAD 2.2B
▼ 9.7% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Canadian Pacific Kansas City Limited owns and operates the only freight railway spanning Canada, the United States, and Mexico, providing rail and intermodal transportation services over a network of approximately 20,000 miles. CPKC's registered, executive and corporate head office is located in Calgary, Alberta, Canada, and its U.S. head office is in Kansas City, Missouri. The Company had 19,479 employees as of December 31, 2025, defined as individuals engaged in full-time, part-time, or seasonal employment with the Company. For financial reporting the Company has one operating segment, rail transportation, because its overall financial and operational performance is analyzed as an integrated whole rather than by business line. It transports freight across three lines of business: bulk commodities such as grain, coal, potash, and fertilizers and sulphur; merchandise freight such as forest products, energy, chemicals and plastics, metals, minerals and consumer products, and automotive; and intermodal traffic moved in overseas and domestic containers by train, ship, and truck, which together generated Freight revenues of $14,776 million in 2025. For each of the years ended December 31, 2025 and 2024, the Company's revenues and operations were not dependent on any major customers. The Company was originally incorporated on June 22, 2001, under the Canada Business Corporations Act.

Written from the business description in CANADIAN PACIFIC KANSAS CITY LTD/CN's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth

CAD 15.1B
Revenue, FY2025 · full 18-year series below
Revenue CAD B Net income CAD B
FY2025 · Revenue 15.1 · Net income 4.1
10B20B
2008201120142017202020232025
Compound annual growth
+19.6%
+14.4%
+8.4%
+7.7%
+5.6%
+11.1%
+11.8%
+13.1%
+6.2%
+4.8%
+87.6%
+19.4%
+4.6%
+24.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.4% a year over the five years to FY2025 — but profit grew slower: net income at +11.1%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

27 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 37.2% · Net 27.4%
20%40%
200820162025
ROE
FY2025 · ROE 8.8%
20%40%
200820162025
Three returns, three denominators.
Gross margin·
Operating margin37.2%
Net margin27.4%
EBITDACAD 7.6B

Each CAD of equity produced 9 cents of profit this year.

Cash & shareholders

CAD 4.7B
returned in FY2025 · dividends + net buybacks
Free cash flow CAD B
FY2025 · FCF 2.2
1.00B2.00B-0.25B-0.50B
200820162025
Net buybacks CAD B Dividends CAD B
FY2025 · Dividends 0.8 · Net buybacks 3.9
2B4BDividendsNet buybacks
2008201120142017202020232025
Dividends paidCAD 796.0M
Net buybacksCAD 3.9B
Share of profit112.7%
Consecutive raises1 year

CAD 796.0M in dividends and CAD 3.9B in buybacks — 113% of the year's profit, so the payout drew on cash built up earlier.

Total assetsCAD 85.9B
EquityCAD 45.9B
CashCAD 184.0M
Gross debtCAD 19.9B
Net debtCAD 19.8B
Current ratio0.49×

Net debt stands at 43% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · CAD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
CP, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue CAD B15.114.512.68.88.07.77.87.36.66.26.76.66.15.75.25.04.45.0
Operating income CAD B5.65.24.43.33.23.33.12.82.52.42.72.31.40.91.01.10.81.0
EBITDA CAD B7.67.15.94.24.04.13.83.53.23.13.32.92.01.51.51.61.31.5
Income tax CAD B1.31.1−7.00.60.80.80.70.60.10.60.60.60.20.20.10.20.10.2
Net income CAD B4.13.73.93.52.92.42.42.02.41.61.41.50.90.50.60.70.60.6
Free cash flow CAD B2.22.41.72.62.21.11.31.20.80.90.90.70.70.2−0.6−0.2−0.30.1
EPS, diluted CAD 4.513.984.213.774.183.593.5013.6116.4410.638.408.464.962.793.343.853.304.04
Dividend / sh CAD 0.870.760.760.760.760.710.632.512.191.851.401.401.401.351.171.060.990.99
Payout %191918201819171813161717284634273024
ROE %8.88.39.89.713.934.035.629.843.533.926.023.214.49.912.013.712.314.9
Shares out B0.900.930.930.930.930.130.140.140.140.150.150.170.180.170.170.170.17◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 71 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityRailroads, Line-Haul Operating
Listed onNYSE
Incorporated inoutside the United States — SEC code Z4
Fiscal year endsDecember 31
Data on record since2007

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