TEEKAY CORP LTD financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TEEKAY CORP LTD files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,329	1,880	1,728	1,275	1,146	683	1,190	1,465	1,220	950
Cost of revenue	138	154	410	402	297	315	496	474	406	317
Gross profit	2,190	1,727	1,319	873	849	367	695	991	815	632
General and administrative	120	106	96.6	69.7	64.2	74.4	57.6	57.6	61.1	54.8
Operating income	384	6.7	164	-109	70.2	-185	246	532	365	303
Interest expense	283	268	254	111	89.1	68.4	38.6	28	7.54	2.9
Interest income	4.82	6.29	8.53	3.4	1.44	0.17	6.69	24.1	37.2	36.2
Other non-operating income	-39	-54	-2.01	-12.5	-5.35	-15.2	-3.07	-1.69	4.33	1.7
Pre-tax income	111	-517	-38	-307	-18.7	-282	211	530	402	347
Income tax	24.5	12.2	19.7	17.8	5.56	-4.96	1.42	12.2	0.41	-4.58
Income from continuing operations				373	-130	-103	36.8	151	134
Net income to minority interests	210	-366	21.5	162	174	-11.2	111	367	268	254
Net income	-123	-163	-79.2	-311	-82.9	7.81	78.4	151	134	98.1
EBITDA	956	493	441	44.7	202	-79.3	345	629	459	389
EPS, basic	-1.62	-1.89	-0.79	-3.08	-0.82	0.08	0.77	1.59	1.47	1.14
EPS, diluted	-1.62	-1.89	-0.79	-3.08	-0.82	0.08	0.76	1.54	1.42	1.13
Shares, basic (weighted)	79.2	86.3	99.7	101	101	102	102	94.5	91.3	86
Shares, diluted (weighted)	79.2	86.3	99.7	101	101	102	104	96.6	93.3	86.7
Dividend per share	0.22	0.22	0.22	0.06	0.00	0.00		0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	568	445	424	176	129	109	310	480	685	941
Short-term investments						0	210	173	22.4	0
Receivables	295	160	174	200	143	60	141	118	83.3	83.2
Inventory						49	60.8	53.2	46	29.4
Other current assets	84.9	38.2	57.2	9.17	16.8			0	5.87	15.4
Total current assets	1,281	833	898	1,143	690	5,139	824	922	927	1,197
Property, plant and equipment	9,139	5,209	5,517	5,033	1,105	925	430	929	1,132	1,000
Lease right-of-use assets			0	160	32.2	14.3	42.9	76.3	52.2	38.2
Goodwill	177	43.7	43.7	38.1	2.4	2.4	2.4	2.4	2.4	2.4
Intangible assets	89.2	93	77.8	45.9	2	1.49	1.05	0.66	0.31	0
Other non-current assets	191	83.2	179	133					23.1	122
Total assets	12,815	8,092	8,392	8,073	6,946	6,532	2,165	2,197	2,153	2,360
Accounts payable	53.5	24.1	31.2						25.7	20
Accrued liabilities	70.9	138	34.8	33.5	123	93.7	78.3	3.38	76.2	84.7
Deferred revenue	78.8	33.1	30.1	36.2	4.21	0.85	1.65	3.4	2.53
Short-term debt	999	801	242	523	10.9	255	21.2	0
Total current liabilities	1,646	1,365	686	1,164	903	3,339	232	173	133	135
Long-term debt	5,641	2,617	3,077	2,304	572	416	0	0
Lease liabilities			0	87.2	22.4	4.87	26.9	40.4	28.7	17.1
Other non-current liabilities	333	136	189	216	109	72.5	63.5	64	56.7	45.7
Total liabilities	8,476	5,213	5,525	5,501	4,475	4,099	795	396	218	197
Total debt	6,640	3,418	3,320	2,827	583	671	21.2	0
Paid-in capital	887	919	1,046	1,052	1,057	1,054	1,022	945	877	880
Retained earnings	22.9	-136	-234	-547	-527	-513	-397	-213	-167	-155
Other comprehensive income	-10.6	-6	-2.27	-23.7	-48.9	-25.5	-1.97	0
Minority interests	3,190	2,102	2,058	2,090	1,990	1,917	746	1,068	1,225	1,438
Total equity	4,089	2,880	2,867	2,572	2,471	2,432	1,370	1,800	1,935	2,163
Total liabilities and equity	12,815	8,092	8,392	8,073	6,946	6,532	2,165	2,197	2,153	2,360
Shares outstanding	86.1	89.1	100	101	101	102	98.3	91	84.1	86.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	86.7	-529	-57.7	-149	91	-3.37	189	517	402	352
Depreciation and amortization	572	486	276	154	131	106	99	97.6	93.6	86.6
Deferred income tax	10	0.24	2.27	-0.74	-1.2	-0.88	0.89	-1.22	-2.06	-1.65
Change in receivables	96.5	-1.93	-25.1	-45	32.8	83.5	-80.9	23	35.2
Change in inventory								6.15	6.13	7.97
Change in payables	-10.7	-14.5	8.93	103	-6.37	-78	6.29	-13.4	-8.25	-5.71
Cash from operations	677	544	182	383	984	78.1	199	630	467	302
Capital expenditures	-648	-1,054	-694	-11.6	-16	-21.4	0	0	-70.5	-190
Acquisitions	0	0
Purchases of investments	0				0	0	0	0	-21	-2.35
Sales and maturities of investments								0	0	26.3
Cash from investing	-531	-1,082	-663	-50.4	63.1	7.17	309	54.7	157	80.4
Debt issued	2,075	1,007	1,325	292	575	221	0
Debt repaid	-1,009	-713	-672	-101	-49.9	-11.2	-56.9	-21.2	0	0
Stock issued							0	5.83	5.74	13.2
Share buybacks		0	0	-25.7	0	0	-15.4	-50.7	-66.3	-4.95
Dividends paid	-17.4	-19	-22.1	-5.52	0	0	0	0	-85	-85.3
Cash from financing	-196	284	435	-382	-1,098	-226	-457	-520	-416	-130
Net change in cash	-49.6	-253	-46.5	-49.3	-50.4	-140	51.2	164	208	252
Free cash flow	28.2	-510	-512	372	968	56.7	199	630	397	112
Interest paid	341	320	243	122	82.9	64.5	38.7	20.9	5.7	1.9
Income taxes paid						1.1	0.7	5.7	6.2	7.6

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $13.70 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	66.6%	Gross profit / revenue.
Operating margin	31.9%	Operating income / revenue.
EBITDA margin	41.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	36.6%	Pre-tax income / revenue.
Net margin	10.3%	Net income / revenue.
FCF margin	11.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	31.8%	Cash from operations / revenue.
Effective tax rate	-1.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	4.3%	Net income / average total assets.
Capex / revenue	20.0%	Capital expenditures / revenue.
D&A / revenue	9.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-22.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-7.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-3.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-22.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-3.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-5.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-17.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	7.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	34.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-15.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	14.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-26.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	7.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-20.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	14.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-35.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	14.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-21.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-71.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-17.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-35.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	9.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-19.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-7.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-6.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	8.89x	Current assets / current liabilities.
Quick ratio	7.60x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	6.98x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	8.4%	Total liabilities / total assets.
Interest coverage	105x	Operating income / interest expense.
Working capital	$1.06B	Current assets - current liabilities.
Goodwill and intangibles / assets	0.1%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.42x	Revenue / average total assets.
Fixed asset turnover	0.89x	Revenue / average property, plant and equipment.
Inventory turnover	8.42x	Cost of revenue / average inventory.
Days inventory	43 days	365 x average inventory / cost of revenue.
Receivables turnover	11.4x	Revenue / average receivables.
Days sales outstanding	32 days	365 x average receivables / revenue.
Days payables	26 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	49 days	Days inventory + days sales outstanding - days payables.
FCF conversion	113.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	63.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.13	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$1.14	Net income per basic share, as reported (split-adjusted).
Revenue per share	$10.95	Revenue / diluted weighted shares.
FCF per share	$1.29	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.48	Cash from operations / diluted weighted shares.
Cash per share	$10.93	(Cash + short-term investments) / shares outstanding.
Payout ratio	86.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	76.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	4.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.19B	Share price x shares outstanding.
Enterprise value	$248.1M	Market cap + total debt - cash - short-term investments.
P/E	12.1x	Market cap / net income. Only when net income is positive.
P/S	1.25x	Market cap / revenue.
P/FCF	10.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.94x	Market cap / cash from operations, when positive.
EV/Sales	0.26x	Enterprise value / revenue.
EV/EBIT	0.82x	Enterprise value / operating income, when both are positive.
EV/EBITDA	0.64x	Enterprise value / EBITDA, when both are positive.
EV/FCF	2.23x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.4%	Free cash flow / market cap.
Earnings yield	8.3%	Net income / market cap (the inverse of P/E).
Dividend yield	7.2%	Dividends paid over the period / market cap.
Shareholder yield	7.6%	(Dividends paid + share buybacks) / market cap.
PEG	0.86x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was TEEKAY CORP LTD's revenue in fiscal 2025?

TEEKAY CORP LTD reported revenue of $949.5M for fiscal 2025, 22.2% lower than the year before.

Was TEEKAY CORP LTD profitable in fiscal 2025?

Yes. Net income was $98.1M, a net margin of 10.3%.

How much free cash flow did TEEKAY CORP LTD generate in fiscal 2025?

Cash from operations of $301.8M minus capital expenditures of $190.3M left free cash flow of $111.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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