Algonquin Power & Utilities Corp. income statement AQNB

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Algonquin Power & Utilities Corp. reported revenue of $2.4 billion, up 4.9% from the year before. Net income was $180.8 million, a profit margin of 7.4%. Operating income came to $504.7 million, an operating margin of 20.7%. Diluted earnings per share were $0.22. Across the 8 fiscal years shown, revenue grew from $1.6 billion in fiscal 2018 to $2.4 billion in fiscal 2025, about 5.7% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018
Revenue	2,434 +4.9%	2,320 -3.5%	2,404 -13.1%	2,765 +21.6%	2,274 +35.6%	1,677 +3.1%	1,626 -1.3%	1,648
Cost of revenue	—	—	—	—	—	520 +10.3%	472 -0.1%	472
Gross profit	—	—	—	—	—	1,157 +0.2%	1,154 -1.8%	1,176
Selling, general and administrative	—	—	90 +12.6%	80 +20.2%	67 +5.7%	63 +11.1%	57 +7.8%	53
Operating income	505 +13.1%	446 -4.5%	467 +16.2%	402 -2.7%	413 +7.6%	384 +4.7%	367 -3.1%	378
Other income (expense)	-294 -9.2%	-269	—	-772	—	408 +116.9%	188 +176.5%	-246
Pretax income	211 +19.1%	177 +385.3%	-62 +83.2%	-370 -359.9%	142 -82.1%	792 +42.8%	555 +319.0%	132
Income tax	65 -65.2%	187 +604.1%	-37 +39.8%	-62 -41.7%	-43 -167.2%	65 -7.9%	70 +31.4%	53
Net income	181 +113.1%	-1,380 -4914.5%	29 +113.5%	-212 -180.0%	265 -66.2%	782 +47.4%	531 +187.0%	185
Net income to common	170 +112.2%	-1,391 -6946.1%	20 +109.2%	-221	—	—	—	—
Basic EPS	0.22 +111.6%	-1.90 -6433.3%	0.03 +109.1%	-0.33 -180.5%	0.41 -70.3%	1.38 +31.4%	1.05	—
Diluted EPS	0.22 +111.6%	-1.90 -6433.3%	0.03 +109.1%	-0.33 -180.5%	0.41 -70.1%	1.37 +31.7%	1.04	—
Weighted average shares, basic	768 +5.0%	732 +6.2%	689 +1.6%	678 +8.9%	622 +11.2%	560 +11.9%	500 +8.2%	462 +20.8%
Weighted average shares, diluted	772 +5.2%	734 +6.3%	691 +1.9%	678 +7.8%	629 +11.4%	564 +11.8%	505 +8.3%	466 +20.7%
Other measures
Depreciation and amortization	400 +1.2%	396 +11.8%	354 -22.3%	456 +13.0%	403 +28.3%	314 +10.5%	284 +9.0%	261
EBITDA	905 +7.5%	842 +2.5%	821 -4.2%	858 +5.1%	816 +16.9%	698 +7.2%	651 +1.9%	639
Interest coverage	1.79x	1.23x	1.52x	1.44x	1.97x	2.11x	2.02x	2.49x
Margins
Gross margin	—	—	—	—	—	68.97%	70.98%	71.34%
Operating margin	20.74%	19.23%	19.44%	14.54%	18.17%	22.90%	22.56%	22.96%
Pretax margin	8.67%	7.64%	-2.58%	-13.37%	6.25%	47.25%	34.13%	8.04%
Profit margin	7.43%	-59.52%	1.19%	-7.67%	11.65%	46.66%	32.64%	11.22%
EBITDA margin	37.19%	36.29%	34.17%	31.01%	35.88%	41.63%	40.04%	38.78%
Effective tax rate	30.81%	105.42%	—	—	-30.53%	8.15%	12.63%	40.29%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.

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Company profile

Industry: Electric Services (SIC 4911)
Listed as: AQN (NYSE), AGQPF (OTC), AQNB (NYSE)
Fiscal year ends: December 31
Incorporated in: Ontario, Canada
Headquarters: Oakville, Ontario, Canada
SEC CIK: 1174169
Former names: ALGONQUIN POWER INCOME FUND (until Oct 27, 2009)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.