TFIINYSETrucking & Courier Services (No Air)Fiscal year ends December 31
TFI International Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Feb 17, 2026
$111.60−2.45 (-2.15%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 30.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Operating margin
7.2%−3.8 pts over 5 years
Net margin
3.9%−3.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -6.1% | -3.6% | +15.8% | – | |
| Operating income | -21.4% | -21.0% | +6.3% | – | |
| Net income | -26.5% | -27.7% | +2.4% | – | |
| EPS, diluted | -25.0% | -25.6% | +4.2% | – | |
| Free cash flow | +5.2% | +4.3% | +8.5% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 18.7% | – | |
| Return on assets | – | 7.5% | 4.2% | |
| Current ratio | – | 1.00 | 1.03 | |
| Debt to equity | – | 0.49 | – | |
| Net debt to EBITDA | – | 1.21× | 2.01× | |
| Interest coverage | – | 7.3× | 3.5× | |
| Capex to revenue | – | 3.8% | 3.5% | |
| Diluted shares | – | 91M | 83M |
Where the cash went
Fiscal 2021 to 2025, five years combined
TFI International generated $4.88B from operations and spent $3.59B on capital expenditure, dividends and share buybacks. 46% of that went back into the business.
Generated
$4.88B
Used
$3.59B
Capital expenditure$1.65B46%Dividends$588.82M16%Share buybacks$1.36B38%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.4%
×Asset turnover1.48×
×Equity multiplier2.43×
=Return on equity, FY202137.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2021 | 10.4% | 1.48× | 2.43× | 37.6% |
| FY2020 | 7.3% | 1.03× | 2.50× | 18.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$310.55M
- Cash generatingOperating cash flow above zero$977.79M
- Return on assets improvedROA up on the prior year6.7% → 4.3%
- Earnings backed by cashOperating cash flow above net income$977.79M vs $310.55M
- Less leverageLong-term debt to assets fell32.2% → 31.4%
- Better liquidityCurrent ratio rose1.02 → 1.03
- No dilutionShare count did not rise85M → 83M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.34 → 1.10