TFII financial statements

The full income statement, balance sheet, and cash-flow statement for TFI International Inc. (TFII), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2019-12 85.4M2020-12 93.4M2021-12 92.2M2022-12 86.5M2023-12 84.4M2024-12 84.4M2025-12 84.4M-1.1% over 6 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	7.88B YoY-6.1%	8.40B YoY+11.6%	7.52B YoY-14.7%	8.81B YoY+22.0%	7.22B YoY+91.0%
Operating income	565M YoY-21.4%	719M YoY-5.1%	758M YoY-33.9%	1.15B YoY+17.0%	979M YoY+135.1%
Interest expense	162M YoY-5.7%	172M YoY+92.2%	89.5M YoY+208.9%	-82.1M YoY-5.1%	-78.1M YoY-237.9%
Pre-tax income	405M YoY-27.7%	561M YoY-17.1%	677M YoY-36.5%	1.07B YoY+17.6%	906M YoY+149.9%
Income tax	94.8M YoY-31.4%	138M YoY-19.6%	172M YoY-29.1%	242M YoY+59.7%	152M YoY+74.5%
	311M YoY-26.5%	422M YoY-16.3%	505M YoY-38.7%	823M YoY+0.0%	823M YoY+198.6%
Net income to common	311M YoY-26.5%	422M YoY-16.3%	505M YoY-38.7%	823M YoY+9.1%	754M YoY+173.7%
	$3.72 YoY-25.0%	$4.96 YoY-14.5%	$5.80 YoY-35.7%	$9.02 YoY+14.0%	$7.91 YoY+161.1%
EPS (basic)	$3.74 YoY-25.2%	$5.00 YoY-15.0%	$5.88 YoY-36.2%	$9.21 YoY+13.6%	$8.11 YoY+162.5%
	83.1M YoY-1.8%	84.6M YoY-1.6%	85.9M YoY-3.9%	89.4M YoY-4.0%	93.1M YoY+4.4%
	83.4M YoY-2.1%	85.2M YoY-2.1%	87.1M YoY-4.6%	91.3M YoY-4.3%	95.3M YoY+4.8%
Dividends per share	$1.79 YoY+8.1%	$1.65 YoY+12.3%	$1.47 YoY+24.1%	$1.19 YoY+22.6%	$0.97 YoY+24.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.21B YoY+16.6%	1.04B YoY-22.4%	1.34B YoY+5.7%	1.26B YoY+8.7%	1.16B YoY+78.0%
Cash & equivalents	210M	0.00 YoY-100.0%	336M YoY+128.1%	147M YoY+662.6%	19.3M YoY+349.0%
Accounts receivable	881M YoY-5.0%	928M YoY+3.7%	895M YoY-13.2%	1.03B YoY-2.4%	1.06B YoY+76.6%
Inventory	19.5M YoY+8.7%	18.0M YoY-25.0%	24.0M YoY-0.9%	24.2M YoY-0.9%	24.4M YoY+178.5%
	7.51B YoY+4.8%	7.17B YoY+14.0%	6.28B YoY+14.1%	5.51B YoY-6.4%	5.88B YoY+52.9%
Property, plant & equipment	2.78B YoY-3.9%	2.89B YoY+19.7%	2.42B YoY+13.3%	2.13B YoY-13.2%	2.46B YoY+128.5%
Goodwill	—	—	—	59.2M YoY+20.2%	49.2M YoY-71.6%
Total non-current assets	6.30B YoY+2.8%	6.13B YoY+23.9%	4.95B YoY+16.6%	4.24B YoY-10.1%	4.72B YoY+47.8%
	1.17B YoY+14.9%	1.02B YoY-4.5%	1.07B YoY+10.3%	967M YoY-31.3%	1.41B YoY+115.0%
Short-term & current debt	222M YoY+138.1%	93.5M YoY-46.4%	174M YoY+370.1%	37.1M YoY-89.8%	364M YoY+745.6%
	4.83B YoY+7.5%	4.49B YoY+21.7%	3.69B YoY+21.3%	3.04B YoY-14.8%	3.57B YoY+73.6%
Long-term debt	2.36B YoY+2.0%	2.31B YoY+35.1%	1.71B YoY+33.7%	1.28B YoY+2.7%	1.24B YoY+50.0%
	2.68B YoY+0.2%	2.67B YoY+3.2%	2.59B YoY+5.2%	2.46B YoY+10.9%	2.22B YoY+24.1%
Total equity incl. non-controlling	2.68B YoY+0.2%	2.67B YoY+3.2%	2.59B YoY+5.2%	2.46B YoY+6.6%	2.31B YoY+29.2%
	84.4M YoY+0.0%	84.4M YoY-0.0%	84.4M YoY-2.4%	86.5M YoY-6.1%	92.2M YoY-1.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	978M YoY-8.0%	1.06B YoY+4.8%	1.01B YoY+4.3%	972M YoY+13.6%	855M YoY+40.0%
Depreciation & amortization	611M YoY+4.9%	582M YoY+31.7%	442M YoY+2.6%	431M YoY+9.6%	393M YoY+31.3%
Intangible amortization	86.8M YoY+8.6%	80.0M YoY+33.2%	60.0M YoY+7.8%	55.7M YoY+0.8%	55.2M YoY+14.6%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Long-term debt issued	219M YoY-56.1%	500M YoY-13.0%	575M YoY+72.1%	334M YoY-49.4%	661M YoY+1892.6%
Long-term debt repaid	320M YoY-40.4%	537M YoY+1197.3%	41.4M YoY-88.8%	370M YoY+742.7%	43.9M YoY-77.1%
Common stock issued	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	151M YoY+8.1%	139M YoY+12.3%	124M YoY+21.1%	103M YoY+15.1%	89.1M YoY+22.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	8.72B YoY-23.5%	11.4B YoY-3.1%	11.8B YoY+27.4%	9.24B YoY-10.6%	10.3B YoY+114.5%
P/E	28.1× YoY+4.1%	27.0× YoY+88.8%	14.3× YoY+27.4%	11.2× YoY-10.6%	12.5× YoY-28.2%
P/S	1.1× YoY-18.5%	1.4× YoY+1.7%	1.3× YoY+4.4%	1.3× YoY-10.6%	1.4× YoY+12.3%
P/B	3.3× YoY-23.6%	4.3× YoY-10.7%	4.8× YoY+14.8%	4.2× YoY-10.6%	4.7× YoY+72.8%
	3.6% YoY-3.9%	3.7% YoY-47.0%	7.0% YoY-21.5%	8.9% YoY+11.8%	8.0% YoY+39.2%
	1.7% YoY+41.3%	1.2% YoY+13.0%	1.1% YoY-8.5%	1.2% YoY+37.1%	0.86% YoY-42.9%
Source filing	40-F	40-F	40-F	40-F	40-F

About this data

Source: TFII's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TFII filings on SEC EDGAR → Not investment advice.