Loading company financials…
TORONTO STOCK EXCHANGE · Utilities · CIK 0001144800
$13.34
+2.85% · live
Updated
$3.96B market value
From TRANSALTA CORP's FY2025 40-F, filed Feb 27, 2026 · read the filing
TRANSALTA supplies electricity, gas or water. It took in $1.71B last year, which makes it a mid-sized company. It spends more than it earns — losing about 7 cents on every dollar of sales.
The filing does not provide enough evidence for a clear financial conclusion.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score -1.08
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Significant financial weakness across most measures.
From TRANSALTA CORP's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating income
$416.8M → $99.8M
Profit
$170.3M → -$112.6M
Operating margin
20.6% → 5.8%
Profit margin
8.4% → -6.6%
Measured against FY2024, from the 40-F filed Feb 27, 2026
Deteriorated: -76.1%
$416.8M to $99.8MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: turned negative
$170.3M to -$112.6MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
TAC rose 2.85% on the latest quote. The average Utilities company tracked here moved +1.93%, and the S&P 500 −1.04%. That is 0.9 points above its sector and 3.9 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 7% a year for the next 10 years. Over the last 9 years it grew by about 0% a year.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $112.6M last year, losing about 7 cents on every dollar of sales.
No. Sales shrank 15.5% last year.
Manageable, but notable. Clearing its debt would take about 5.2 years of cash flow. For every $1 it owes, it owns $1.20 in assets. Its operating profit does not cover its interest bill — 0.40x against the interest it owes. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It paid a dividend while making a loss, so the payment did not come out of profits — it came from reserves, borrowing or asset sales. It paid out 8% of the cash its operations generated. It has paid in each of the last 11 years.
WeakNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it lost $112.6M and generated $460.3M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202540-F · Feb 27, 2026Filing for FY2025 | FY202440-F · Feb 27, 2026Filing for FY2024 | FY202340-F · Feb 20, 2025Filing for FY2023 | FY202240-F · Feb 20, 2025Filing for FY2022 | FY202140-F · Feb 24, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $1.71B | $2.03B | $2.39B | $2.12B | $1.94B | −15.5% |
| Gross profit | $1.01B | $1.28B | $1.56B | $1.17B | $1.06B | −20.8% |
| Gross marginGross profit ÷ revenueWhat is this? | 59.0% | 63.1% | 65.1% | 54.9% | 54.7% | −4.0 pts |
| Selling, general and administrative | $506.6M | $466.7M | $384.1M | $371.2M | $364.1M | +8.5% |
| Operating income | $99.8M | $416.8M | $776.0M | $378.4M | -$170.3M | −76.1% |
| Operating marginOperating income ÷ revenueWhat is this? | 5.8% | 20.6% | 32.5% | 17.8% | -8.8% | −14.7 pts |
| Interest expense | $247.3M | $230.9M | $200.2M | $203.8M | — | +7.1% |
| Income before tax | -$100.5M | $227.3M | $627.1M | $251.5M | -$270.8M | n/m |
| Net income | -$112.6M | $170.3M | $567.2M | $114.7M | -$302.8M | n/m |
| Net marginNet income ÷ revenueWhat is this? | -6.6% | 8.4% | 23.7% | 5.4% | -15.6% | −15.0 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-0.3794 | $0.5725 | $1.85 | $0.4276 | $-1.12 | n/m |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Report filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingWrite down why you are following TRANSALTA CORP, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
TransAlta Advances Portfolio Rotation Through Sale of Minority Interest in Oklahoma Wind Portfolio for US$305 Million and Closes Acquisition of Colorado Gas Assets for US$1 Billion
Yahoo Finance ·
TransAlta (TSX:TA) Stock May Trade At A Premium To Sales
Yahoo Finance ·
TransAlta to Host Third Quarter 2026 Results Conference Call
Yahoo Finance ·
FERC rejects TransAlta 202(c) cost-recovery plan for Centralia unit
Yahoo Finance ·
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from TAC's 40-F for fiscal year 2025 (period ending 2025-12-31, filed Feb 27, 2026), reported under the IFRS taxonomy. Reported in CAD and shown here in USD, the currency TAC trades in, converted at today's rate of 0.7126. The filing itself is in CAD. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 2.0 | 4/9 | 40-F, filed Feb 27, 2026 |
| FY2024 | 3.3 | 4/9 | 40-F, filed Feb 20, 2025 |
| FY2023 | 6.0 | 6/9 | 40-F, filed Feb 23, 2024 |
| FY2022 | 4.7 | 7/9 | 40-F, filed Feb 23, 2023 |
| FY2021 | 4.7 | 6/9 | 40-F, filed Feb 24, 2022 |
| FY2020 | 4.0 | 5/9 | 40-F, filed Mar 3, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
4 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
-1.08
In the distress zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: −14.7 pts
20.6% to 5.8%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −15.0 pts
8.4% to -6.6%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: turned negative
$0.57 to -$0.38Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -15.5%
$2.03B to $1.71BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: -20.8%
$1.28B to $1.01BSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: −4.0 pts
63.1% to 59.0%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: -18.1%
$345.6M to $282.9MSignificant
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: -39.2%
$240.1M to $146.1MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: -19.9%
$221.6M to $177.4MSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Deteriorated: +5.6%
$2.31B to $2.44BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
2 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week
Loading price history…
Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 5% and 9%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 4.8% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
This company has not reported enough of the required figures to calculate this score.
Report filed on Form 6-K
Report filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingTransAlta (TSX:TA) Stock May Already Be Fully Priced On DOE Order
Yahoo Finance ·
DIVIDEND 15 SPLIT CORP. II Monthly Dividend Declaration for Class A & Preferred Share
Yahoo Finance ·
Primary sources and further research