Also trades as: SAPIF (OTC) · $vol 2M

C$38.69 ($27.14)

+0.58 (+1.52%)

Weekly Expected Move ±3.0%

C$36 C$37 C$38 C$39 C$41

TSX · Consumer Defensive · Packaged Foods · Tech Score Strong Sell · Power 38 · C$15.5B mcap · 232M float · 0.357% daily turnover

Revenue

$17.6B -7.9% ▼

5Y CAGR: +4.2%

Gross Profit

$2.8B +77.7% ▲

5Y CAGR: +13.6%

Operating Income

$1.0B -33.4% ▼

5Y CAGR: -6.6%

Net Income

$672M +481.8% ▲

5Y CAGR: +1.4%

EPS (Diluted)

$1.63 +488.1% ▲

5Y CAGR: +1.4%

EBITDA

$1.7B +15.5% ▲

5Y CAGR: +3.8%

View Full Income Statement

Line Item	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$15.0B	$17.8B	$17.3B	$19.1B	$17.6B
YoY Growth	+5.2%	+18.7%	-2.8%	+9.9%	-7.9%
Cost of Revenue	$13.9B	$16.3B	$15.8B	$17.5B	$14.8B
Gross Profit	$1.2B	$1.6B	$1.5B	$1.6B	$2.8B
Gross Margin	7.7%	8.7%	8.7%	8.2%	15.8%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$2M	$5M	$2M	$1M	$1.7B
Operating Expenses	$2M	$5M	$2M	$1M	$1.7B
Operating Income	$1.2B	$1.5B	$1.5B	$1.6B	$1.0B
Operating Margin	7.7%	8.7%	8.7%	8.2%	5.9%
Interest Expense	$120M	$150M	$178M	$195M	$135M
Income Before Tax	$405M	$775M	$404M	-$19M	$923M
Tax Expense	$131M	$153M	$139M	$157M	$233M
Net Income	$274M	$622M	$265M	-$176M	$672M
Net Margin	1.8%	3.5%	1.5%	-0.9%	3.8%
EPS (Diluted)	$0.66	$1.48	$0.63	$-0.42	$1.63
EBITDA	$1.0B	$1.4B	$1.4B	$1.4B	$1.7B
Shares Outstanding	415M	419M	423M	424M	413M

Line Item	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2	FY2026 Q3	FY2026 Q4
Revenue	$4.6B	$4.7B	$5.0B	$4.8B	$4.6B	$4.7B	$4.9B	$4.2B
Cost of Revenue	$4.2B	$4.3B	$4.6B	$4.4B	$4.2B	$4.0B	$4.1B	$3.9B
Gross Profit	$383M	$389M	$417M	$376M	$426M	$745M	$818M	$237M
Gross Margin	8.3%	8.3%	8.4%	7.9%	9.2%	15.8%	16.7%	5.7%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$0	$1M	$0	$0	$1.1B	$1.1B	$482M	$0
Operating Expenses	$0	$1M	$0	$0	$0	$452M	$482M	$0
Operating Income	$383M	$388M	$417M	$376M	$426M	$293M	$336M	$237M
Operating Margin	8.3%	8.2%	8.4%	7.9%	9.2%	6.2%	6.9%	5.7%
Interest Expense	$38M	$31M	$52M	$57M	$46M	$41M	$38M	$31M
Income Before Tax	$187M	$169M	-$475M	$100M	$222M	$254M	$298M	$209M
Tax Expense	$45M	$43M	$43M	$26M	$57M	$69M	$78M	$52M
Net Income	$142M	$126M	-$518M	$74M	$165M	$185M	$220M	$102M
Net Margin	3.1%	2.7%	-10.4%	1.6%	3.6%	3.9%	4.5%	2.4%
EPS (Diluted)	$0.33	$0.30	$-1.22	$0.18	$0.40	$0.45	$0.53	$0.25
EBITDA	$383M	$388M	$417M	$246M	$426M	$451M	$483M	$389M
Shares Outstanding	425M	425M	424M	418M	416M	414M	412M	408M

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