Emera Incorporated (EMA) Balance Sheet

NYSE: EMAAssets, liabilities, debt and equity over 10 years.

EMA balance sheet, 2025

December 31, 2025 · Canadian dollars

C$44.78B assets = C$31.40B liabilities + C$13.39B equity

What it ownsC$44.78BCash & ST investments: C$364.7M (0.8%)Receivables: C$1.94B (4.3%)Inventory: C$820.3M (1.8%)Other current: C$1.26B (2.8%)PP&E: C$27.43B (61.3%)PP&EC$27.43B · 61%Goodwill & intangibles: C$5.58B (12.5%)Goodwill & intangiblesC$5.58B · 12%LT investments: C$634.0M (1.4%)Other non-current: C$6.75B (15.1%)Other non-currentC$6.75B · 15%=How it is financedC$44.78BCurrent liabilities: C$6.62B (14.8%)Current liabilitiesC$6.62B · 15%Long-term debt: C$18.45B (41.2%)Long-term debtC$18.45B · 41%Other LT liabilities: C$6.32B (14.1%)Other LT liabilitiesC$6.32B · 14%Shareholders’ equity: C$13.39B (29.9%)Shareholders’ equityC$13.39B · 30%

Both columns are drawn to the same scale: what EMA owns equals what it owes plus shareholders’ equity. Hover a block for its value.

EMA financial health

Current ratio0.66
Tight · current assets cover current liabilities 0.66×
Debt / equity1.62
High leverage · C$1.62 of debt for each $1 of equity
Equity / assets29.9%
Balanced · of assets funded by shareholders
Cash / debt1.7%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles12.5%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

EMA balance sheet trends, 2016–2025

MetricTrendThenLatestChange
Total assetsC$29.22B2016C$44.78B2025+4.9%/yr
Total liabilitiesC$22.41B2016C$31.40B2025+3.8%/yr
Shareholders’ equityC$6.70B2016C$13.37B2025+8.0%/yr
Cash & short-term investmentsC$412.0M2016C$364.7M2025−1.3%/yr
Total debtC$15.71B2016C$21.62B2025+3.6%/yr
Net cash (debt)−C$15.30B2016−C$21.25B2025−C$6.0B
Working capital−C$1.21B2016−C$2.24B2025−C$1.0B
Current ratio0.6720160.662025−0.01
Debt / equity2.3420161.622025−0.73
Shares outstanding172.0M2016299.7M2025+6.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

EMA assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

EMA liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

EMA debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

EMA balance sheet in Canadian dollars

2025202420232022202120202019201820172016
Assets
Cash & short-term investmentsC$364.7MC$196.0MC$567.0MC$310.0MC$394.0MC$220.0MC$210.5MC$325.0MC$446.0MC$412.0M
Cash & equivalentsC$364.7MC$196.0MC$567.0MC$310.0MC$394.0MC$220.0MC$210.5MC$273.0MC$438.0MC$404.0M
Short-term investments———C$8.0MC$157.0M—C$9.0MC$52.0MC$8.0MC$8.0M
ReceivablesC$1.94BC$1.19BC$1.16BC$1.67BC$1.07BC$834.0MC$893.8MC$930.0MC$1.18BC$1.07B
InventoryC$820.3MC$781.0MC$790.0MC$769.0MC$538.0MC$453.0MC$360.1MC$474.0MC$418.0MC$472.0M
Other current assetsC$1.26BC$1.52BC$1.19BC$2.14BC$1.13BC$671.0MC$452.7MC$1.10BC$484.0MC$556.0M
Total current assetsC$4.39BC$3.69BC$3.71BC$4.90BC$3.14BC$2.18BC$1.92BC$2.83BC$2.53BC$2.51B
Property, plant & equipment (net)C$27.43BC$26.17BC$24.38BC$23.00BC$20.35BC$19.60BC$14.06BC$18.71BC$17.00BC$17.29B
Goodwill & intangible assetsC$5.58BC$5.86BC$5.87BC$6.01BC$5.70BC$5.72BC$4.50BC$6.31BC$5.80BC$6.21B
Long-term investmentsC$634.0MC$654.0MC$1.40BC$1.42BC$1.38BC$0C$0C$0C$0C$0
Other non-current assetsC$6.75BC$6.58BC$4.12BC$4.42BC$3.68BC$3.74BC$4.08BC$4.46BC$3.44BC$3.21B
Total assetsC$44.78BC$42.95BC$39.48BC$39.74BC$34.24BC$31.23BC$24.56BC$32.31BC$28.77BC$29.22B
Liabilities
Accounts payableC$1.95BC$1.99BC$1.45BC$2.02BC$1.49BC$1.15BC$862.2MC$1.29BC$1.16BC$1.24B
Short-term debtC$3.01BC$1.63BC$2.11BC$3.30BC$2.20BC$3.01BC$1.58BC$2.31BC$1.98BC$1.44B
Deferred revenue————C$271.0MC$242.0MC$260.0MC$15.0MC$265.0MC$326.0M
Total current liabilitiesC$6.62BC$5.12BC$4.54BC$7.29BC$4.88BC$4.88BC$3.21BC$4.55BC$3.95BC$3.72B
Long-term debtC$18.45BC$18.17BC$17.69BC$15.74BC$14.20BC$0C$0C$0C$0C$0
Other long-term liabilitiesC$6.32BC$6.37BC$5.16BC$5.27BC$5.02BC$17.12BC$14.71BC$19.40BC$17.64BC$18.68B
Total liabilitiesC$31.40BC$29.66BC$27.39BC$28.30BC$24.09BC$22.00BC$17.92BC$23.96BC$21.59BC$22.41B
Shareholders' equity
Common stock & paid-in capitalC$9.38BC$9.04BC$8.46BC$7.76BC$7.24BC$6.71BC$4.79BC$5.82BC$5.60BC$4.74B
Retained earnings (deficit)C$1.61BC$1.47BC$1.80BC$1.58BC$1.35BC$1.50BC$904.6MC$1.07BC$891.0MC$1.08B
Accumulated other comprehensive incomeC$872.3MC$1.26BC$305.0MC$578.0MC$25.0M−C$79.0MC$73.3MC$338.0M−C$188.0MC$106.0M
Minority interestC$14.0MC$14.0MC$14.0MC$14.0M——————
Total shareholders' equityC$13.37BC$13.28BC$12.07BC$11.43BC$10.12BC$9.20BC$6.61BC$8.32BC$7.09BC$6.70B
Key figures
Total debtC$21.62BC$19.81BC$19.80BC$19.04BC$16.40BC$15.41BC$12.17BC$16.60BC$15.12BC$15.71B
Net cash (debt)−C$21.25B−C$19.61B−C$19.23B−C$18.73B−C$16.01B−C$15.19B−C$11.96B−C$16.27B−C$14.68B−C$15.30B
Working capital−C$2.24B−C$1.43B−C$836.0M−C$2.39B−C$1.74B−C$2.70B−C$1.30B−C$1.72B−C$1.42B−C$1.21B
Tangible book valueC$7.80BC$7.42BC$6.20BC$5.42BC$4.42BC$3.48BC$2.11BC$2.00BC$1.28BC$491.0M
Shares outstanding299.7M289.0M273.8M265.9M257.6M248.2M240.5M234.0M214.1M172.0M
Current ratio0.660.720.820.670.640.450.600.620.640.67
Quick ratio0.350.270.380.270.300.220.340.280.410.40
Debt / equity1.621.491.641.671.621.671.842.002.132.34
Equity / assets29.9%30.9%30.6%28.8%29.5%29.5%26.9%25.7%24.6%22.9%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed February 23, 2026); data from EODHD.

EMA financial position

At the end of fiscal 2025 (December 31, 2025), Emera had total assets of C$44.8 billion (up 4.3% from a year earlier), total liabilities of C$31.4 billion and shareholders' equity of C$13.4 billion. It held C$364.7 million in cash and short-term investments against C$21.6 billion of debt, net debt of C$21.3 billion. Its current ratio was 0.66. In the latest quarter (ended June 30, 2026) total assets were C$46.6 billion and equity C$14.4 billion.

Related: EMA income statement, EMA cash flow statement, EMA key metrics. See the EMA stock overview for the latest quote and news.

EMA balance sheet FAQ

What are Emera's total assets?

Emera reported total assets of C$44.8 billion at the end of fiscal 2025 (December 31, 2025), compared with C$43.0 billion a year earlier.

How much debt does Emera have?

Emera had C$21.6 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.62.

How much cash does Emera have?

Emera held C$364.7 million in cash and short-term investments at the end of fiscal 2025; with C$21.6 billion of debt that is net debt of C$21.3 billion.

What is Emera's book value?

Emera's shareholders' equity (book value) was C$13.4 billion at the end of fiscal 2025.

What is Emera's current ratio?

Emera had current assets of C$4.4 billion and current liabilities of C$6.6 billion, a current ratio of 0.66 (current liabilities exceed current assets).

How much goodwill does Emera have?

Emera carried C$5.6 billion of goodwill and intangible assets, 12.5% of total assets, at the end of fiscal 2025.

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