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CANADIAN PACIFIC KANSAS CITY LTD/CNCP

Sector
Other
Industry
Railroads, Line-Haul Operating
Exchange
NYSE

Stock Price $CP

Latest filings

You are here#27 of 57 in Industrials by market cap

Filing record · 2016–202610-K2010-Q328-K361

CP filed 20 annual reports (10-K), 32 quarterly reports (10-Q) and 361 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Feb ’17Feb ’17
  2. Material agreement8-K · Oct ’19Oct ’19
  3. Deal closed8-K · Dec ’21Dec ’21
  4. Material agreement8-K · Aug ’25Aug ’25

01—Key figures

Financial Performance

No financial data available.

All CP Financial Metrics6 metrics

Balance Sheet2

Cash Flow2

Per Share2

02—Overview

CANADIAN PACIFIC KANSAS CITY LTD/CN Financial Overview 2021–2025

Updated Jul 10, 2026

Canadian Pacific Kansas City Ltd. (CPKC) permanently altered the North American logistics map with its $36 billiona acquisition of Kansas City Southern, forging the continent's only single-line rail network connecting Canada, the U.S., and Mexico. This historic consolidation serves as the central investment thesis for the stock, as the company has successfully transformed immense integration costs into durable pricing power and structural volume growth across multiple borders.

This expanded geographic footprint drove total revenues from $7,995 millionb in FY2021 to a record $15,078 million by FY2025. Despite absorbing heavy acquisition debt and fuel price volatility along the way, CPKC demonstrated rigorous cost control. By FY2025, the railway wrestled its core adjusted operating ratio back down to an efficient 59.9%, mirroring its pre-merger profitability levels. The company's enhanced cash-flow generation funded aggressive capital returns, highlighted by a share repurchase program targeting up to 44.9 million common shares and a subsequent 17.5% dividend increase to $0.268 per share declared in Q1 2026.

The market has priced this transcontinental integration with steady optimism. At the close of FY2025, CPKC commanded a market capitalization of $66.1 billionc, with shares ending the period at $73.63. Measured against its FY2025 diluted EPS of $4.51, the stock traded at a 16.3x P/E ratio, reflecting solid market conviction in the unified network's long-term cash flow capabilities.

Recent Developments (Q4 2025 and Q1 2026)

During Q1 2026, CPKC experienced margin pressure despite underlying volume growth. Gross ton-miles increased 2% on strong grain and intermodal demand, yet total revenues declined 2% to $3.701 billiond due to lower freight revenues per ton-mile. This dynamic pushed the operating ratio up to 66.0% from 65.3% a year earlier, causing diluted EPS to drop 3% to $0.94. To optimize its capital structure, the railway completed a US$1.2 billion debt offering in March 2026, split evenly between notes due 2029 and 2056.

Bulls emphasize that robust cash generation boosted liquidity to $409 millione, shielding operations while underlying physical freight volumes expand. Bears caution that weakening per-unit pricing is demonstrably eroding operational efficiency and shrinking bottom-line growth. The market has continued to bid up the stock, leaving shares richly valued at 19.5x trailing earnings as of the April 30, 2026 reporting date.

What to watch: pricing power recovery across bulk and intermodal freight segments; margin impact of ongoing currency and fuel price fluctuations.

03—Filings

Recent SEC Filings

  1. 8-KCANADIAN PACIFIC KANSAS CITY LTD/CN 8-K Report, Corporate Update (Sep 29, 2026)Canadian Pacific Kansas City Limited (CP) announced through its wholly-owned subsidiary, Canadian Pacific Railway Company, the issuance of new debt securities in Canada. This offering, referred to as the "Canadian Offering," totals CAD$1.7 billion across four tranches with varying maturity dates and coupon rates: CAD$500 million of 4.20% notes due 2030, CAD$550 million of 4.60% notes due 2033, CAD$300 million of 4.90% notes due 2037, and CAD$450 million of 5.40% notes due 2056. The Corporation itself will provide guarantees for these notes.
  2. 8-KCANADIAN PACIFIC KANSAS CITY LTD/CN 8-K Report, Corporate Update (Jul 30, 2026)Canadian Pacific Kansas City Limited (CP) announced its quarterly dividend declaration on July 30, 2026, through a press release filed as part of an 8-K filing. The Board of Directors has declared a dividend of $0.268 per common share. This action signals ongoing confidence in the company's financial health and its commitment to returning value to shareholders.
  3. 8-KCANADIAN PACIFIC KANSAS CITY LTD/CN 8-K Report, Executive Changes (Jul 29, 2026)Canadian Pacific Kansas City Limited (CP) filed an 8-K on July 29, 2026, to announce a significant change in its Board of Directors. Isabelle Courville, the Chair of the Board, has retired from her position, effective immediately. The company explicitly stated that Ms. Courville's departure is not due to any disagreements regarding the Company's operations, policies, or practices, which should provide some comfort to investors regarding the stability of the company's strategic direction. The announcement was made via a press release, which is attached as an exhibit to this filing.
  4. 8-KCANADIAN PACIFIC KANSAS CITY LTD/CN 8-K Report, Financial Results (Jul 29, 2026)Canadian Pacific Kansas City Limited (CPKC) has filed an 8-K report on July 29, 2026, to announce its financial results for the three and six months ended June 30, 2026. The key details of these results are provided in an accompanying press release, furnished as Exhibit 99.1. Investors should refer to this press release for specific performance metrics, including revenue, earnings, and operational achievements for the second quarter and first half of 2026. While the 8-K itself does not contain the detailed financial figures, it serves as the official notification that CPKC has disclosed this information. The filing explicitly states that the press release is furnished and not deemed "filed" under Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference into other SEC filings. Therefore, investors seeking to understand CPKC's recent financial performance must consult the referenced press release.
  5. 8-KCANADIAN PACIFIC KANSAS CITY LTD/CN 8-K Report, Material Agreement (Jul 8, 2026)Canadian Pacific Kansas City Limited (CP) announced a material amendment to its existing credit agreement through a second amending agreement entered into on July 6, 2026. This amendment, executed by its subsidiary Canadian Pacific Railway Company (CPRC), primarily focuses on extending the maturity dates of its credit facilities. Specifically, the 5 Year Facility's maturity date has been pushed back by one year, from June 25, 2030, to June 25, 2031. Similarly, the 2 Year Facility's maturity date has also been extended by one year, moving from June 25, 2027, to June 25, 2028. This extension of debt maturity provides Canadian Pacific with enhanced financial flexibility and stability. By pushing out repayment obligations, the company can better manage its cash flow and capital allocation strategies over a longer horizon. Investors should view this as a positive development, indicating proactive financial management aimed at securing favorable borrowing terms and ensuring continued access to liquidity without immediate refinancing pressures.
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04—See also

Related Companies

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