CP's reported quarterly results suggest a business with strong headline profitability, as operating margins held in a 33.9% to 41.1% band across most quarters and net margin reached 21.7% in 2026Q3, but the trajectory is uneven and difficult to extrapolate.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue and gross margin have been highly volatile, ranging from 34.0% to 80.2% across recent quarters, while operating margin stayed relatively stable near 34% to 41%, suggesting underlying profitability is steadier than the top-line swings imply.
CP is the only single-line railroad physically connecting Canada, the United States, and Mexico, offering a unique competitive advantage.
The company is recognized for the quality of its franchise and the discipline of its management, which supports long-term growth.
CP's trailing and forward P/E ratios of 25.21 and 21.79 respectively indicate a potentially attractive valuation for investors.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | $0.91-3.2% vs $0.94 | $3.0B+0.2% vs $3.0B |
Q3 2026 Jul 29, 2026 | $0.82-6.6% vs $0.87 | $2.9B+1.3% vs $2.9B |
Q2 2026 Apr 29, 2026 | $0.76-2.6% vs $0.78 | $2.7B-1.4% vs $2.7B |
Q1 2026 Jan 28, 2026 | $0.95-4.0% vs $0.99 | $2.9B-0.3% vs $2.9B |
Canadian Pacific Kansas City Limited CP reported third-quarter 2026 earnings of 91 cents per share, missing the Zacks Consensus Estimate of 94 cents by 3.2%. However, the bottom line increased 16% year over year on a core adjusted basis in Canadian dollars.
CALGARY, AB, Nov. 3, 2026 /PRNewswire/ -- Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) said today it has set new October monthly records for transporting grain and grain products across Canada and the United States. In Canada, CPKC moved 3.26 million metric tonnes (MMT) and 33,822 carloads of grain and grain products in October 2026, the third record month in a row to begin the 2026-2027 crop year.
CALGARY, AB, Nov. 2, 2026 /PRNewswire/ -- Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) Executive Vice-President and Chief Financial Officer Nadeem Velani and Senior Vice President, Accounting, Planning and Procurement Ian Gray will address the 2026 Scotiabank Transportation & Industrials Conference on Nov. 17, 2026, at 8:00 a.m. ET. CPKC will provide access to the live audio webcast at investor.cpkcr.com.
Amazon, Canadian Pacific Kansas City, and GE Aerospace are core long-term holdings in my concentrated 15-stock portfolio. AMZN's dominant digital infrastructure, AWS growth, and reinvestment capacity create a durable, hard-to-replicate moat with massive future revenue potential. CPKC's unique North American rail network, pricing power, and reshoring tailwinds underpin resilient, inflation-beating earnings growth for decades.
Benchmark CP against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Canadian Pacific Kansas City Ltd. (CP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $92.17 | $81.02B | 28.73 | 3.66% | 27.46% | 8.65% | 0.67% | |
| $124.06 | $75.04B | 23.07 | 1.43% | 26.42% | 22.18% | 2.03% | |
| $290.16 | $172.38B | 24.24 | 1.07% | 28.9% | 37.82% | 1.88% | |
| $49.12 | $90.99B | 31.90 | -3.08% | 23.97% | 25.94% | 1.06% | |
| $319.94 | $71.86B | 25.09 | 0.47% | 20.71% | 16.69% | 1.69% | |
| $283.59 | $47.9B | 41.52 | 7.51% | 11.2% | 12.13% | 0.36% |
Canadian Pacific Kansas City Ltd. (CP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Canadian Pacific Kansas City Ltd. (CP) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 30, 2026·SEC
Oct 28, 2026·SEC
Sep 29, 2026·SEC
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Canadian Pacific Kansas City Ltd. (CP) stock FAQ — growth, dividends, profitability & financials explained
Canadian Pacific Kansas City Ltd. (CP) reported $22.95B in revenue over the trailing twelve months. Revenue was $15.08B in fiscal year 2025. That is 306% more than the $3.72B of fiscal year 1997.
Canadian Pacific Kansas City Ltd. (CP) grew revenue by 3.7% in fiscal year 2025, compared with the prior fiscal year.
Yes. Canadian Pacific Kansas City Ltd. (CP) earned $4.20B in net income over the trailing twelve months (a 18.3% net margin).
Yes. Canadian Pacific Kansas City Ltd. (CP) pays a dividend that yields 0.67% at the current price, a small yield.
Canadian Pacific Kansas City Ltd. (CP) had a return on equity (ROE) of 8.7% in fiscal year 2025. That is below the market's typical 10-15%.
Canadian Pacific Kansas City Ltd. (CP) generated $2.90B in free cash flow over the trailing twelve months.
