MARKETS / NYSE / 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

Revenue

CAD 15.0B

▲ 3.9% YoY

Net income

CAD 4.1B

▲ 11.4% YoY

Free cash flow

CAD 2.2B

▼ 9.7% YoY

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 15.0B

Revenue, FY2025 · full 18-year series below

Revenue CAD B Net income CAD B

FY2025 · Revenue 15.0 · Net income 4.1

Compound annual growth

Revenue

+19.7%

+14.4%

+8.4%

+7.6%

Net income

+5.6%

+11.1%

+11.8%

+13.1%

EPS, diluted

+6.2%

+4.7%

Dividend / share

+4.8%

+4.2%

Returned to shareholders

+87.6%

+19.4%

+4.6%

+24.5%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +14.4% a year over five years — but profit grew slower: net income at +11.1%, earnings per share at +4.7%.

The share count rose from 0.67B to 0.90B over the period.

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

28 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 37.5% · Net 27.6%

ROE

FY2025 · ROE 8.8%

Gross margin—

Operating margin37.5%

Net margin27.6%

Return on assets4.8%

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

Net buybacks CAD B Dividends CAD B

FY2025 · Dividends 0.8 · Net buybacks 3.9

Dividends paidCAD 796.0M

Net buybacksCAD 3.9B

Share of profit112.7%

Consecutive raises1 years

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

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue CAD B	15.0	14.4	12.4	8.7	7.9	7.6	7.7	7.3	6.5	6.2	6.7	6.6	6.1	5.7	5.2	5.0	4.4	5.0
Operating income CAD B	5.6	5.2	4.4	3.3	3.2	3.3	3.1	2.8	2.5	2.4	2.7	2.3	1.4	0.9	1.0	1.1	0.8	1.0
EBITDA CAD B	7.6	7.1	5.9	4.2	4.0	4.1	3.8	3.5	3.2	3.1	3.3	2.9	2.0	1.5	1.5	1.6	1.3	1.5
Income tax CAD B	1.3	1.1	−7.0	0.6	0.8	0.8	0.7	0.6	0.1	0.6	0.6	0.6	0.2	0.2	0.1	0.2	0.1	0.2
Net income CAD B	4.1	3.7	3.9	3.5	2.9	2.4	2.4	2.0	2.4	1.6	1.4	1.5	0.9	0.5	0.6	0.7	0.6	0.6
Free cash flow CAD B	2.2	2.4	1.7	2.6	2.2	1.1	1.3	1.2	0.8	0.9	0.9	0.7	0.7	0.2	−0.6	−0.2	−0.3	0.1
EPS, diluted CAD	4.51	3.98	4.21	3.77	4.18	3.59	3.50	13.61	16.44	10.63	8.40	8.46	4.96	2.79	3.34	3.85	3.30	4.04
Dividend / sh CAD	0.87	0.76	0.76	0.76	0.76	0.71	0.63	2.51	2.19	1.85	1.40	1.40	1.40	1.35	1.17	1.06	0.99	0.99
Payout %	19	19	18	20	18	19	17	18	13	16	17	17	28	46	34	27	30	24
ROE %	8.8	8.3	9.8	9.7	13.9	34.0	35.6	29.8	43.5	33.9	26.0	23.2	14.4	9.9	12.0	13.7	12.3	14.9
Shares out B	0.90	0.93	0.93	0.93	0.93	0.67	0.14	0.14	0.14	0.15	0.15	0.17	0.18	0.17	0.17	0.17	0.17	·

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

Provenance

Company facts, as filed

How we verify · 0 failures in 71 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 5 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityRailroads, Line-Haul Operating

Listed onNYSE

Incorporated inoutside the United States — SEC code Z4

Fiscal year endsDecember 31

Data on record since2007