TransAlta Corporation (TAC) Income Statement
TAC 2025 at a glance
Fiscal year ended December 31, 2025 · Canadian dollarsTAC revenue and net income
Where TAC's revenue goes
2025Each bar shows an amount and its share of revenue. TAC kept −5.7% of revenue as net income.
TAC profit margins
TAC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −15.5% | −6.9% | +2.7% | +0.6% |
| Gross profit | −56.3% | −21.7% | −7.1% | −4.6% |
| Operating income | −137.9% | — | — | — |
| Net income | −160.2% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TAC income statement in Canadian dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$2.40B | C$2.85B | C$3.35B | C$2.98B | C$2.72B | C$2.10B | C$2.35B | C$2.25B | C$2.31B | C$2.40B |
| Cost of revenue | C$1.62B | C$1.05B | C$1.17B | C$1.34B | C$1.23B | C$968.0M | C$1.09B | C$1.10B | C$1.02B | C$963.0M |
| Gross profit | C$784.4M | C$1.79B | C$2.18B | C$1.64B | C$1.49B | C$1.13B | C$1.26B | C$1.15B | C$1.29B | C$1.43B |
| Research & development | — | — | — | — | — | — | C$0 | C$0 | C$0 | C$0 |
| Sales, general & admin | C$317.0M | C$296.0M | C$302.0M | C$263.0M | C$234.0M | C$235.0M | C$228.0M | C$245.0M | C$248.0M | C$249.0M |
| Total operating expenses | C$1.01B | C$1.21B | C$1.09B | C$1.10B | C$1.73B | C$1.23B | C$926.0M | C$916.0M | C$1.13B | C$930.0M |
| Operating income | −C$221.8M | C$585.0M | C$1.09B | C$531.0M | −C$239.0M | −C$99.0M | C$335.0M | C$160.0M | C$138.0M | C$478.0M |
| Interest income | C$51.0M | C$44.0M | C$71.0M | C$43.0M | C$143.0M | C$17.0M | C$140.0M | C$181.0M | C$152.0M | C$162.0M |
| Interest expense | C$289.8M | C$250.0M | C$212.0M | C$212.0M | C$213.0M | C$168.0M | C$125.7M | C$224.0M | C$175.6M | C$243.0M |
| Income before taxes | −C$140.9M | C$319.0M | C$880.0M | C$353.0M | −C$380.0M | −C$303.0M | C$193.0M | −C$96.0M | −C$54.0M | C$314.0M |
| Income taxes | C$17.0M | C$80.0M | C$84.0M | C$192.0M | C$45.0M | −C$50.0M | C$17.0M | −C$6.0M | C$64.0M | C$38.0M |
| Net income | −C$137.9M | C$229.0M | C$695.0M | C$50.0M | −C$537.0M | −C$287.0M | C$82.0M | −C$198.0M | −C$160.0M | C$169.0M |
| EBITDA | C$779.9M | C$1.10B | C$1.71B | C$1.16B | C$552.0M | C$687.0M | C$1.09B | C$814.0M | C$866.0M | C$1.18B |
| Gross margin | 32.6% | 63.1% | 65.1% | 54.9% | 54.7% | 53.9% | 53.7% | 51.1% | 56.0% | 59.8% |
| Operating margin | −9.2% | 20.6% | 32.5% | 17.8% | −8.8% | −4.7% | 14.3% | 7.1% | 6.0% | 19.9% |
| Net margin | −5.7% | 8.0% | 20.7% | 1.7% | −19.7% | −13.7% | 3.5% | −8.8% | −6.9% | 7.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$487.0M | C$566.5M | C$598.5M | C$615.0M | C$758.0M | C$678.0M | C$638.0M | C$582.0M | C$947.0M | C$624.0M | C$1.02B | C$625.0M |
| Cost of revenue | C$54.0M | C$322.8M | C$460.6M | C$441.0M | C$326.0M | C$288.0M | C$254.0M | C$146.0M | C$363.0M | C$305.0M | C$297.0M | C$213.0M |
| Gross profit | C$433.0M | C$243.6M | C$137.9M | C$174.0M | C$432.0M | C$390.0M | C$384.0M | C$436.0M | C$584.0M | C$319.0M | C$720.0M | C$412.0M |
| Sales, general & admin | C$88.0M | C$99.0M | C$83.0M | C$81.0M | C$76.0M | C$95.0M | C$67.0M | C$143.0M | C$196.0M | C$91.0M | C$61.0M | C$66.0M |
| Total operating expenses | C$290.0M | C$219.6M | C$227.8M | C$163.0M | C$332.0M | C$384.0M | C$293.0M | C$277.0M | C$255.0M | C$298.0M | C$210.0M | C$293.0M |
| Operating income | C$143.0M | C$24.1M | −C$89.9M | C$11.0M | C$100.0M | C$6.0M | C$91.0M | C$159.0M | C$329.0M | C$21.0M | C$510.0M | C$119.0M |
| Interest income | C$13.0M | C$14.0M | C$16.0M | C$13.0M | C$11.0M | C$16.0M | C$7.0M | C$12.0M | C$9.0M | C$14.0M | C$18.0M | C$29.0M |
| Interest expense | C$67.0M | C$69.2M | C$65.9M | C$67.0M | C$69.0M | C$68.0M | C$65.0M | C$66.0M | C$42.1M | C$41.5M | C$43.4M | C$43.8M |
| Income before taxes | C$80.0M | C$23.1M | −C$42.0M | −C$53.0M | C$49.0M | −C$51.0M | C$9.0M | C$94.0M | C$267.0M | −C$35.0M | C$453.0M | C$79.0M |
| Income taxes | C$28.0M | C$6.0M | −C$2.0M | C$1.0M | C$7.0M | −C$8.0M | C$31.0M | C$28.0M | C$29.0M | C$19.0M | C$34.0M | −C$18.0M |
| Net income | C$49.0M | C$13.0M | −C$36.0M | −C$49.0M | C$46.0M | −C$39.0M | −C$23.0M | C$69.0M | C$222.0M | −C$59.0M | C$386.0M | C$74.0M |
| EBITDA | C$252.0M | C$210.5M | C$172.0M | C$173.0M | C$264.0M | C$160.0M | C$207.0M | C$291.0M | C$442.0M | C$148.0M | C$646.0M | C$307.0M |
| Gross margin | 88.9% | 43.0% | 23.0% | 28.3% | 57.0% | 57.5% | 60.2% | 74.9% | 61.7% | 51.1% | 70.8% | 65.9% |
| Operating margin | 29.4% | 4.2% | −15.0% | 1.8% | 13.2% | 0.9% | 14.3% | 27.3% | 34.7% | 3.4% | 50.1% | 19.0% |
| Net margin | 10.1% | 2.3% | −6.0% | −8.0% | 6.1% | −5.8% | −3.6% | 11.9% | 23.4% | −9.5% | 38.0% | 11.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported in TAC's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TAC financial results
In fiscal year 2025 (ended December 31, 2025), TransAlta reported revenue of C$2.4 billion, down 15.5% from the year before. It had a net loss of C$137.9 million, a net profit margin of −5.7%. Over five years revenue grew at an average rate of 2.7% a year. Figures are in Canadian dollars, the currency of its financial statements.
See the TAC stock overview for the latest quote and news, or the TAC chart for price history and technical indicators.
TAC income statement FAQ
What is TransAlta's annual revenue?
TransAlta reported total revenue of C$2.4 billion for fiscal year 2025, which ended on December 31, 2025. That was down 15.5% from C$2.8 billion the previous year.
Is TransAlta profitable?
No. TransAlta reported a net loss of C$137.9 million in fiscal 2025, a net profit margin of −5.7%; its operating margin was −9.2%.
What is TransAlta's gross margin?
TransAlta's gross margin was 32.6% in fiscal 2025: for every $100 of revenue, TransAlta kept $33 after the direct cost of its products and services.
How fast is TransAlta growing?
Revenue grew 2.7% a year on average over the last five fiscal years, from C$2.1 billion to C$2.4 billion.
When will TransAlta report its next earnings?
TransAlta is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does TransAlta's fiscal year end?
TransAlta's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.