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TransAlta Corp (TAC) Financial History

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

UTILITIES · UTILITIES - INDEPENDENT POWER PRODUCERS · DATA UPDATED 2026-08-23

TransAlta Corp (TAC) operates in the UTILITIES - INDEPENDENT POWER PRODUCERS industry and is headquartered in Calgary, Canada with about 1,350 employees. Its market capitalization is roughly $4 billion. In the fiscal year ended 2025-12-31, TAC reported C$2.4B in revenue and (C$138M) in net income.

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) located in Alberta and Canada.

Interactive charts & full statements → Open the TAC valuation workbench →

TAC 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	C$2.3B	C$2.4B	C$2.8B	C$3.4B	C$3.0B	C$2.7B	C$2.1B	C$2.3B	C$2.2B	C$2.3B	C$2.4B	C$2.3B	C$2.6B	C$2.3B	C$2.3B	C$2.7B	C$2.8B	C$2.8B	C$3.1B	C$2.8B	C$2.8B
Gross Profit	C$989M	C$784M	C$1.8B	C$2.2B	C$1.6B	C$1.5B	C$1.1B	C$1.3B	C$1.1B	C$1.3B	C$1.4B	C$1.3B	C$1.5B	C$1.4B	C$1.5B	C$1.7B	C$1.6B	C$1.5B	C$1.6B	C$1.5B	C$1.6B
Gross Margin %	43.6%	32.6%	63.1%	65.1%	54.9%	54.7%	53.9%	53.7%	51.1%	56.0%	59.8%	55.5%	58.4%	59.6%	64.2%	64.4%	57.4%	55.7%	52.0%	55.6%	57.6%
Operating Income (EBIT)	C$88M	(C$222M)	C$585M	C$1.1B	C$531M	(C$239M)	(C$99M)	C$335M	C$160M	C$138M	C$478M	C$148M	C$442M	C$297M	C$42M	C$662M	C$497M	C$378M	C$531M	C$541M	C$157M
Operating Margin %	3.9%	-9.2%	20.6%	32.5%	17.8%	-8.8%	-4.7%	14.3%	7.1%	6.0%	19.9%	6.5%	16.9%	13.0%	1.9%	24.9%	17.6%	13.7%	17.1%	19.5%	5.6%
Net Income	(C$23M)	(C$138M)	C$229M	C$695M	C$50M	(C$537M)	(C$287M)	C$82M	(C$198M)	(C$160M)	C$169M	C$22M	C$182M	(C$33M)	(C$583M)	C$305M	C$219M	C$181M	C$236M	C$309M	C$45M
Net Margin %	-1.0%	-5.7%	8.1%	20.7%	1.7%	-19.7%	-13.7%	3.5%	-8.8%	-6.9%	7.0%	1.0%	6.9%	-1.4%	-25.8%	11.5%	7.8%	6.5%	7.6%	11.1%	1.6%
EBITDA	C$822M	C$784M	C$1.1B	C$1.7B	C$1.2B	C$552M	C$687M	C$1.1B	C$949M	C$866M	C$1.2B	C$1.0B	C$1.1B	C$848M	C$342M	C$1.2B	C$967M	C$833M	C$1.1B	C$956M	C$594M
Earnings Per Share (EPS)	C$-0.07	C$-0.46	C$0.77	C$2.52	C$0.18	C$-1.98	C$-1.04	C$0.29	C$-0.69	C$-0.56	C$0.59	C$0.08	C$0.67	C$-0.12	C$-2.48	C$1.37	C$1.00	C$0.90	C$1.18	C$1.53	C$0.22
Shares Outstanding (M)	302M	297M	296M	276M	271M	271M	275M	283M	287M	288M	288M	280M	273M	264M	235M	222M	219M	201M	199M	202M	201M

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

TAC 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	C$487M	C$566M	C$599M	C$615M	C$433M	C$758M	C$678M	C$638M
Gross Profit	C$433M	C$244M	C$138M	C$174M	C$334M	C$432M	C$390M	C$384M
Gross Margin %	88.9%	43.0%	23.0%	28.3%	77.1%	57.0%	57.5%	60.2%
Operating Income (EBIT)	C$143M	C$24M	(C$90M)	C$11M	(C$2M)	C$100M	C$6M	C$91M
Operating Margin %	29.4%	4.2%	-15.0%	1.8%	-0.5%	13.2%	0.9%	14.3%
Net Income	C$49M	C$13M	(C$36M)	(C$49M)	(C$99M)	C$46M	(C$39M)	(C$23M)
Net Margin %	10.1%	2.3%	-6.0%	-8.0%	-22.9%	6.1%	-5.8%	-3.6%
EBITDA	C$252M	C$211M	C$187M	C$173M	C$123M	C$264M	C$160M	C$207M
Earnings Per Share (EPS)	C$0.16	C$0.04	C$-0.12	C$-0.16	C$-0.33	C$0.15	C$-0.13	C$-0.08
Shares Outstanding (M)	302M	297M	297M	310M	298M	298M	296M	296M

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

TAC 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)	C$671M	C$645M	C$796M	C$1.5B	C$877M	C$1.0B	C$702M	C$849M	C$820M	C$626M	C$744M	C$432M	C$796M	C$765M	C$520M	C$694M	C$811M	C$580M	C$1.0B	C$847M	C$490M
Capital Expenditures (CapEx)	C$218M	C$249M	C$321M	C$888M	C$949M	C$489M	C$500M	C$431M	C$297M	C$389M	C$379M	C$502M	C$521M	C$593M	C$742M	C$483M	C$790M	C$904M	C$1.0B	C$599M	C$224M
Free Cash Flow (FCF)	C$453M	C$397M	C$475M	C$576M	(C$72M)	C$512M	C$202M	C$418M	C$523M	C$237M	C$365M	(C$70M)	C$275M	C$172M	(C$222M)	C$211M	C$21M	(C$324M)	C$32M	C$248M	C$266M
FCF Margin %	20.0%	16.5%	16.7%	17.2%	-2.4%	18.8%	9.6%	17.8%	23.2%	10.3%	15.2%	-3.1%	10.5%	7.5%	-9.8%	7.9%	0.7%	-11.7%	1.0%	8.9%	9.5%
Dividends Paid	C$130M	C$126M	C$123M	C$109M	C$97M	C$87M	C$86M	C$85M	C$86M	C$86M	C$111M	C$170M	C$181M	C$154M	C$136M	C$206M	C$216M	C$284M	C$212M	C$205M	C$134M

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

TAC 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)	C$62M	C$120M	C$238M	C$251M	C$157M	C$7M	C$215M	C$229M
Capital Expenditures (CapEx)	C$45M	C$27M	C$91M	C$55M	C$78M	C$34M	C$114M	C$77M
Free Cash Flow (FCF)	C$17M	C$93M	C$147M	C$196M	C$79M	(C$27M)	C$101M	C$152M
FCF Margin %	3.5%	16.5%	24.5%	31.9%	18.2%	-3.6%	14.9%	23.8%
Dividends Paid	C$34M	C$32M	C$31M	C$33M	C$31M	C$31M	C$30M	C$32M

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

TAC 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	C$8.8B	C$8.7B	C$9.5B	C$8.7B	C$10.7B	C$9.2B	C$9.7B	C$9.5B	C$9.4B	C$10.3B	C$11.0B	C$10.9B	C$9.8B	C$9.8B	C$9.5B	C$9.8B	C$9.9B	C$9.8B	C$7.8B	C$7.2B	C$7.5B
Cash & Cash Equivalents	C$302M	C$283M	C$337M	C$348M	C$1.1B	C$947M	C$703M	C$411M	C$89M	C$314M	C$305M	C$54M	C$43M	C$42M	C$27M	C$49M	C$58M	C$82M	C$50M	C$51M	C$66M
Total Liabilities	C$7.0B	C$7.2B	C$7.7B	C$7.0B	C$8.8B	C$6.6B	C$6.3B	C$5.4B	C$5.3B	C$5.9B	C$6.3B	C$6.6B	C$6.0B	C$6.4B	C$6.1B	C$6.1B	C$6.3B	C$6.4B	C$4.8B	C$4.4B	C$4.5B
Total Debt (Short + Long-Term)	C$4.2B	C$4.2B	C$4.4B	C$4.1B	C$3.5B	C$3.9B	C$3.2B	C$3.4B	C$3.3B	C$3.7B	C$4.4B	C$4.5B	C$3.2B	C$4.1B	C$4.2B	C$4.0B	C$4.2B	C$4.2B	C$2.4B	C$2.5B	C$2.5B
Total Shareholders' Equity	C$1.8B	C$1.4B	C$1.7B	C$1.5B	C$2.0B	C$2.6B	C$3.4B	C$4.1B	C$3.0B	C$3.3B	C$3.5B	C$3.4B	C$3.3B	C$2.9B	C$3.0B	C$3.3B	C$3.2B	C$2.9B	C$2.5B	C$2.3B	C$2.4B

CAD; C$M / C$B as marked (reporting currency). 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 TAC viewer.

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