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Algonquin Power & Utilities Corp (AQN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

UTILITIES · UTILITIES - DIVERSIFIED · DATA UPDATED 2026-08-22

Algonquin Power & Utilities Corp (AQN) operates in the UTILITIES - DIVERSIFIED industry and is headquartered in Oakville, Canada with about 3,233 employees. Its market capitalization is roughly $4 billion. In the fiscal year ended 2025-12-31, AQN reported $2.4B in revenue and $181M in net income.

Algonquin Power & Utilities Corp. operates in the power and utility industries. It owns and operates a portfolio of regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.

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AQN Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$2.5B	$2.4B	$2.3B	$2.4B	$2.8B	$2.3B	$1.7B	$1.6B	$1.6B	$1.6B	$815M	$741M	$813M	$634M	$372M	$271M	$183M	$179M	$176M	$188M	$173M
Gross Profit	$1.8B	$1.8B	$1.7B	$1.7B	$1.9B	$1.6B	$1.3B	$1.2B	$1.2B	$1.2B	$596M	$469M	$450M	$387M	$251M	$115M	$85M	$81M	$77M	$88M	$76M
Gross Margin %	72.4%	73.7%	74.4%	69.1%	68.7%	68.6%	76.1%	72.7%	70.6%	74.2%	73.1%	63.3%	55.4%	61.0%	67.5%	42.3%	46.5%	45.1%	43.6%	46.7%	44.2%
Operating Income (EBIT)	$528M	$523M	$446M	$467M	$402M	$413M	$384M	$367M	$377M	$380M	$175M	$133M	$120M	$98M	$46M	$37M	$24M	$28M	$29M	$43M	$36M
Operating Margin %	20.7%	21.5%	19.2%	19.4%	14.5%	18.2%	22.9%	22.6%	22.9%	24.1%	21.4%	18.0%	14.7%	15.4%	12.4%	13.7%	13.2%	15.8%	16.4%	23.0%	20.8%
Net Income	$150M	$181M	($1.4B)	$29M	($212M)	$265M	$782M	$531M	$185M	$154M	$97M	$85M	$65M	$19M	$15M	$23M	$20M	$60M	($16M)	$24M	$24M
Net Margin %	5.9%	7.4%	-59.5%	1.2%	-7.7%	11.7%	46.7%	32.6%	11.2%	9.8%	11.9%	11.4%	8.0%	3.0%	3.9%	8.5%	10.7%	33.4%	-8.9%	12.7%	13.9%
EBITDA	$942M	$927M	$1.0B	$733M	$380M	$773M	$1.3B	$1.0B	$520M	$603M	$334M	$249M	$215M	$198M	$94M	$81M	$71M	$90M	$40M	$111M	$71M
Earnings Per Share (EPS)	$0.19	$0.23	$-1.89	$0.04	$-0.34	$0.42	$1.39	$1.06	$0.40	$0.40	$0.36	$0.33	$0.30	$0.09	$0.09	$0.20	$0.21	$0.73	$-0.20	$0.31	$0.33
Shares Outstanding (M)	773M	772M	732M	691M	629M	629M	564M	500M	466M	386M	274M	257M	216M	206M	159M	117M	94M	81M	77M	76M	72M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AQN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$544M	$792M	$631M	$583M	$528M	$692M	$585M	$573M
Gross Profit	$412M	$532M	$447M	$456M	$403M	$487M	$205M	$452M
Gross Margin %	75.7%	67.1%	70.8%	78.3%	76.4%	70.4%	35.1%	78.9%
Operating Income (EBIT)	$84M	$181M	$114M	$150M	$65M	$179M	$106M	$111M
Operating Margin %	15.4%	22.8%	18.1%	25.7%	12.3%	25.8%	18.1%	19.4%
Net Income	$4M	$86M	$21M	$39M	$24M	$97M	($186M)	($1.3B)
Net Margin %	0.7%	10.9%	3.3%	6.7%	4.6%	14.0%	-31.9%	-227.8%
EBITDA	$175M	$285M	$230M	$252M	$200M	$270M	$121M	$250M
Earnings Per Share (EPS)	$0.00	$0.11	$0.03	$0.05	$0.03	$0.13	$-0.24	$-1.70
Shares Outstanding (M)	773M	773M	776M	772M	772M	771M	790M	770M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AQN Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$599M	$604M	$459M	$628M	$619M	$157M	$505M	$611M	$530M	$364M	$214M	$189M	$166M	$93M	$63M	$68M	$45M	$48M	$55M	$72M	$59M
Capital Expenditures (CapEx)	$657M	$785M	$831M	$1.0B	$1.1B	$1.3B	$786M	$581M	$466M	$588M	$302M	$147M	$372M	$149M	$78M	$59M	$21M	$10M	$37M	$40M	$53M
Free Cash Flow (FCF)	($58M)	($181M)	($372M)	($398M)	($470M)	($1.2B)	($281M)	$30M	$64M	($224M)	($88M)	$42M	($206M)	($56M)	($15M)	$9M	$24M	$37M	$18M	$32M	$5M
FCF Margin %	-2.3%	-7.4%	-16.0%	-16.6%	-17.0%	-52.2%	-16.8%	1.8%	3.9%	-14.3%	-10.8%	5.6%	-25.4%	-8.8%	-4.0%	3.2%	13.3%	20.7%	10.0%	17.1%	3.2%
Dividends Paid	$211M	$216M	$281M	$331M	$387M	$316M	$262M	$205M	$174M	$144M	$96M	$65M	$58M	$54M	$38M	$29M	$19M	$16M	$47M	$68M	$56M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AQN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$279M	$42M	$179M	$99M	$260M	$74M	$49M	$67M
Capital Expenditures (CapEx)	$156M	$127M	$224M	$151M	$188M	$222M	$265M	$183M
Free Cash Flow (FCF)	$124M	($85M)	($45M)	($52M)	$72M	($148M)	($216M)	($116M)
FCF Margin %	22.7%	-10.7%	-7.1%	-9.0%	13.6%	-21.4%	-36.9%	-20.3%
Dividends Paid	$53M	$52M	$54M	$53M	$54M	$53M	$53M	$87M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AQN Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$13.9B	$14.1B	$17.0B	$18.4B	$17.6B	$16.8B	$13.2B	$10.9B	$9.4B	$8.4B	$6.1B	$3.6B	$3.5B	$3.3B	$2.8B	$1.3B	$981M	$880M	$804M	$963M	$899M
Cash & Cash Equivalents	$55M	$33M	$35M	$25M	$58M	$125M	$102M	$62M	$47M	$43M	$82M	$90M	$8M	$13M	$53M	$71M	$5M	$3M	$5M	$10M	$12M
Total Liabilities	$8.9B	$9.1B	$10.8B	$11.4B	$10.5B	$9.1B	$7.2B	$6.2B	$5.3B	$5.0B	$4.3B	$1.9B	$2.0B	$1.9B	$1.4B	$715M	$632M	$492M	$513M	$573M	$491M
Total Debt (Short + Long-Term)	$6.6B	$6.5B	$6.7B	$8.5B	$7.5B	$6.2B	$4.5B	$3.9B	$3.3B	$3.1B	$3.3B	$1.1B	$1.1B	$1.2B	$778M	$459M	$432M	$399M	$360M	$427M	$328M
Total Shareholders' Equity	$4.6B	$4.6B	$4.7B	$5.0B	$5.2B	$5.9B	$5.2B	$3.9B	$3.2B	$3.4B	$1.9B	$1.7B	$1.3B	$897M	$922M	$504M	$349M	$388M	$281M	$368M	$382M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive AQN viewer.

Other Companies in UTILITIES - DIVERSIFIED

AVA · Avista Corporation — $3 billion
UTL · UNITIL Corporation — $947 million

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