Also trades as: EMA.TO (TSX) · $vol 51M · EMRAF (OTC) · $vol 3M · EMA-PC.TO (TSX) · $vol 0M · EMA-PH.TO (TSX) · $vol 0M · ERRAF (OTC) · $vol 0M

$48.03

+0.36 (+0.76%)

Weekly Expected Move ±1.7%

$46 $47 $48 $49 $50

NYSE · Utilities · Regulated Electric · Tech Score Strong Sell · Power 37 · $14.7B mcap · 305M float · 0.149% daily turnover · Short 50% of daily vol

Revenue

$8.3B +15.3% ▲

5Y CAGR: +8.6%

Gross Profit

$2.0B -29.8% ▼

5Y CAGR: -3.0%

Operating Income

$1.6B +44.0% ▲

5Y CAGR: +6.3%

Net Income

$1.1B +91.9% ▲

5Y CAGR: +2.1%

EPS (Diluted)

$3.38 +97.7% ▲

5Y CAGR: -2.2%

EBITDA

$3.5B +39.7% ▲

5Y CAGR: +11.0%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$5.8B	$7.6B	$7.6B	$7.2B	$8.3B
YoY Growth	+4.7%	+31.6%	-0.3%	-4.8%	+15.3%
Cost of Revenue	$3.6B	$4.6B	$4.3B	$4.3B	$6.3B
Gross Profit	$2.2B	$3.0B	$3.3B	$2.9B	$2.0B
Gross Margin	37.6%	39.9%	43.4%	40.3%	24.6%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$0	$17M	$27M	$24M	$0
Operating Expenses	$1.2B	$1.4B	$1.5B	$1.8B	$486M
Operating Income	$930M	$1.6B	$1.8B	$1.1B	$1.6B
Operating Margin	16.1%	21.5%	23.7%	15.0%	18.7%
Interest Expense	$611M	$709M	$927M	$975M	$1.0B
Income Before Tax	$555M	$1.2B	$1.2B	$409M	$1.2B
Tax Expense	-$6M	$185M	$128M	-$159M	$81M
Net Income	$560M	$1.0B	$1.0B	$567M	$1.1B
Net Margin	9.7%	13.3%	13.8%	7.9%	13.1%
EPS (Diluted)	$1.98	$3.55	$3.57	$1.71	$3.38
EBITDA	$1.9B	$2.7B	$2.9B	$2.5B	$3.5B
Shares Outstanding	258M	266M	274M	289M	300M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$1.8B	$1.8B	$2.7B	$2.0B	$2.1B	$2.0B	$2.5B	$2.0B
Cost of Revenue	$962M	$1.1B	$1.3B	$1.2B	$1.2B	$1.7B	$1.7B	$1.5B
Gross Profit	$840M	$652M	$1.4B	$807M	$928M	$335M	$757M	$464M
Gross Margin	46.6%	37.0%	50.9%	40.6%	44.1%	16.6%	30.5%	23.5%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$8M	$50M	$0	$8M	$7M	$0	$0	$0
Operating Expenses	$624M	$413M	$438M	$512M	$448M	$122M	$130M	$133M
Operating Income	$216M	$239M	$925M	$295M	$480M	$213M	$627M	$331M
Operating Margin	12.0%	13.6%	34.6%	14.8%	22.8%	10.5%	25.3%	16.8%
Interest Expense	$241M	$250M	$255M	$249M	$260M	$268M	$272M	$274M
Income Before Tax	$14M	-$26M	$720M	$145M	$254M	$52M	$713M	$99M
Tax Expense	-$9M	-$199M	$119M	-$9M	$6M	-$35M	$129M	-$25M
Net Income	$22M	$173M	$601M	$154M	$247M	$87M	$584M	$124M
Net Margin	1.2%	9.8%	22.5%	7.7%	11.7%	4.3%	23.5%	6.3%
EPS (Diluted)	$0.01	$0.52	$1.96	$0.45	$0.76	$0.22	$1.85	$0.34
EBITDA	$728M	$591M	$1.2B	$696M	$578M	$654M	$1.2B	$667M
Shares Outstanding	290M	296M	297M	299M	301M	302M	304M	307M

EMA NYSE