Emera Incorporated (EMA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Emera Incorporated (EMA) stock price & volume — 10-year historical chart
Emera Incorporated (EMA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Emera Incorporated (EMA) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 23, 2026 | $0.40vs $0.42-3.9% | $1.5Bvs $1.1B+28.5% |
| Q4 2025 | Nov 7, 2025 | $0.64vs $0.44+45.7% | $2.1Bvs $1.7B+24.1% |
| Q3 2025 | Aug 7, 2025 | $0.57vs $0.47+22.5% | $2.0Bvs $1.8B+9.7% |
| Q2 2025 | May 8, 2025 | $2.02vs $0.71+184.9% | $2.7Bvs $1.5B+83.9% |
Emera Incorporated (EMA) competitors in Electric and gas combination utilities — business model, growth, and fundamentals comparison
Emera Incorporated (EMA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Emera Incorporated (EMA) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.23B | 6.52B | 6.11B | 5.51B | 5.76B | 7.59B | 7.56B | 7.2B | 8.3B |
| Revenue Growth % | 45.57% | 4.79% | -6.33% | -9.9% | 4.7% | 31.62% | -0.33% | -4.8% | 15.31% |
| Cost of Revenue | 3.63B | 3.87B | 3.49B | 3.13B | 3.6B | 4.56B | 4.28B | 4.29B | 6.26B |
| Gross Profit | 2.6B▲ 0% | 2.65B▲ 2.1% | 2.62B▼ 1.2% | 2.38B▼ 9.2% | 2.17B▼ 8.9% | 3.03B▲ 39.5% | 3.28B▲ 8.5% | 2.9B▼ 11.5% | 2.04B▼ 29.8% |
| Gross Margin % | 41.76% | 40.68% | 42.91% | 43.24% | 37.64% | 39.91% | 43.42% | 40.35% | 24.58% |
| Gross Profit Growth % | 94.32% | 2.08% | -1.21% | -9.19% | -8.86% | 39.54% | 8.45% | -11.54% | -29.76% |
| Operating Expenses | 1.18B | 1.26B | 1.28B | 1.23B | 1.24B | 1.4B | 1.49B | 1.82B | 485.6M |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - |
| EBITDA | 2.27B | 2.33B | 2.25B | 2.05B | 1.84B | 2.59B | 2.85B | 2.25B | 2.85B |
| EBITDA Margin % | 36.44% | 35.65% | 36.88% | 37.16% | 32% | 34.11% | 37.74% | 31.18% | 34.35% |
| EBITDA Growth % | 97.65% | 2.51% | -3.1% | -9.23% | -9.82% | 40.27% | 10.28% | -21.34% | 27.02% |
| Depreciation & Amortization | 851M | 928M | 911M | 899M | 915M | 959M | 1.06B | 1.17B | 1.3B |
| D&A / Revenue % | 13.67% | 14.22% | 14.91% | 16.33% | 15.87% | 12.64% | 14.02% | 16.18% | 15.62% |
| Operating Income (EBIT) | 1.42B▲ 0% | 1.4B▼ 1.4% | 1.34B▼ 3.9% | 1.15B▼ 14.6% | 930M▼ 18.9% | 1.63B▲ 75.2% | 1.79B▲ 10.1% | 1.08B▼ 39.8% | 1.55B▲ 44.0% |
| Operating Margin % | 22.78% | 21.43% | 21.98% | 20.83% | 16.13% | 21.47% | 23.72% | 15% | 18.73% |
| Operating Income Growth % | 155.5% | -1.41% | -3.93% | -14.59% | -18.92% | 75.16% | 10.13% | -39.8% | 43.96% |
| Interest Expense | 698M | 713M | 738M | 679M | 611M | 709M | 927M | 975M | 1.03B |
| Interest Coverage | 2.03x | 1.96x | 1.82x | 1.69x | 1.52x | 2.30x | 1.94x | 1.11x | 1.50x |
| Interest / Revenue % | 11.21% | 10.93% | 12.08% | 12.33% | 10.6% | 9.34% | 12.26% | 13.54% | 12.44% |
| Non-Operating Income | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K |
| Pretax Income | 819M▲ 0% | 816M▼ 0.4% | 771M▼ 5.5% | 1.32B▲ 71.9% | 555M▼ 58.1% | 1.19B▲ 115.1% | 1.17B▼ 1.8% | 409M▼ 65.1% | 1.17B▲ 186.1% |
| Pretax Margin % | 13.15% | 12.51% | 12.62% | 24.06% | 9.63% | 15.74% | 15.51% | 5.68% | 14.09% |
| Income Tax | 520M | 69M | 61M | 341M | -6M | 185M | 128M | -159M | 80.93M |
| Effective Tax Rate % | 63.49% | 8.46% | 7.91% | 25.74% | -1.08% | 15.49% | 10.91% | -38.88% | 6.92% |
| Net Income | 294M▲ 0% | 746M▲ 153.7% | 708M▼ 5.1% | 983M▲ 38.8% | 560M▼ 43.0% | 1.01B▲ 80.0% | 1.04B▲ 3.6% | 567M▼ 45.7% | 1.09B▲ 91.9% |
| Net Margin % | 4.72% | 11.43% | 11.59% | 17.85% | 9.71% | 13.28% | 13.8% | 7.88% | 13.11% |
| Net Income Growth % | 15.29% | 153.74% | -5.09% | 38.84% | -43.03% | 80% | 3.57% | -45.69% | 91.91% |
| EPS (Diluted) | 1.24▲ 0% | 3.19▲ 157.3% | 2.76▼ 13.5% | 3.78▲ 37.0% | 1.98▼ 47.6% | 3.55▲ 79.3% | 3.57▲ 0.6% | 1.71▼ 52.1% | 3.38▲ 97.7% |
| EPS Growth % | -6.06% | 157.26% | -13.48% | 36.96% | -47.62% | 79.29% | 0.56% | -52.1% | 97.66% |
| EPS (Basic) | 1.25 | 3.20 | 2.76 | 3.79 | 1.98 | 3.56 | 3.57 | 1.71 | 3.39 |
| Diluted Shares Outstanding | 214.1M | 234M | 240.5M | 248.2M | 257.6M | 265.9M | 273.8M | 289M | 299.7M |
Emera Incorporated (EMA) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 28.77B | 32.31B | 24.56B | 31.23B | 34.24B | 39.74B | 39.48B | 42.95B | 44.78B |
| Asset Growth % | -1.54% | 12.31% | -24.01% | 27.2% | 9.64% | 16.06% | -0.66% | 8.79% | 4.26% |
| PP&E (Net) | 17B | 18.71B | 14.06B | 19.6B | 20.35B | 23B | 24.38B | 26.17B | 27.43B |
| PP&E / Total Assets % | 59.07% | 57.91% | 57.25% | 62.74% | 59.44% | 57.86% | 61.74% | 60.93% | 61.26% |
| Total Current Assets | 2.53B | 2.83B | 1.92B | 2.18B | 3.14B | 4.9B | 3.71B | 3.69B | 4.39B |
| Cash & Equivalents | 438M | 273M | 210.53M | 220M | 394M | 310M | 567M | 196M | 364.7M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 418M | 474M | 360.13M | 453M | 538M | 769M | 790M | 781M | 820.33M |
| Other Current Assets | 532M | 862M | 415.65M | 621M | 1.07B | 2.06B | 1.08B | 1.42B | 1.15B |
| Long-Term Investments | 1.22B | 1.32B | 1.4B | 1.35B | 1.38B | 1.42B | 1.4B | 654M | 1.25B |
| Goodwill | 5.8B | 6.31B | 4.5B | 5.72B | 5.7B | 6.01B | 5.87B | 5.86B | 5.58B |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2.09B | 2.97B | 2.53B | 2.39B | 3.38B | 4.18B | 3.92B | 6.19B | 5.72B |
| Total Liabilities | 21.59B | 23.96B | 17.92B | 22B | 24.09B | 28.3B | 27.39B | 29.66B | 31.4B |
| Total Debt | 15.12B | 16.6B | 12.17B | 15.41B | 16.4B | 19.04B | 19.8B | 19.81B | 21.62B |
| Net Debt | 14.68B | 16.32B | 11.96B | 15.19B | 16.01B | 18.73B | 19.23B | 19.61B | 21.25B |
| Long-Term Debt | 13.14B | 14.29B | 10.55B | 12.34B | 14.2B | 15.74B | 17.69B | 18.17B | 18.49B |
| Short-Term Borrowings | 1.98B | 2.31B | 1.58B | 3.01B | 2.2B | 3.3B | 2.11B | 1.63B | 3.01B |
| Capital Lease Obligations | 0 | -3.1B | 47.04M | 63M | 0 | 0 | 0 | 0 | 118.9M |
| Total Current Liabilities | 3.95B | 4.55B | 3.21B | 4.88B | 4.88B | 7.29B | 4.54B | 5.12B | 6.62B |
| Accounts Payable | 1.16B | 1.29B | 862.16M | 1.15B | 1.49B | 2.02B | 1.45B | 1.99B | 1.95B |
| Accrued Expenses | 41M | 287M | 16.97M | 241M | 232M | 271M | 279M | 295M | 21.98M |
| Deferred Revenue | 265M | 15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 762M | 666M | 757.28M | 476M | 945M | 1.67B | 689M | 1.18B | 1.64B |
| Deferred Taxes | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Liabilities | 1.63B | 686M | 3.12B | 4.72B | 3.15B | 3.07B | 2.81B | 4.04B | 3.65B |
| Total Equity | 7.18B▲ 0% | 8.36B▲ 16.4% | 6.63B▼ 20.6% | 9.24B▲ 39.3% | 10.15B▲ 9.9% | 11.44B▲ 12.7% | 12.09B▲ 5.7% | 13.29B▲ 10.0% | 13.39B▲ 0.7% |
| Equity Growth % | 5.36% | 16.39% | -20.64% | 39.28% | 9.87% | 12.72% | 5.66% | 9.95% | 0.71% |
| Shareholders Equity | 7.09B | 8.32B | 6.61B | 9.2B | 10.12B | 11.43B | 12.07B | 13.28B | 13.37B |
| Minority Interest | 92M | 41M | 26.99M | 34M | 34M | 14M | 14M | 14M | 13.99M |
| Common Stock | 5.6B | 5.82B | 4.79B | 6.71B | 7.24B | 7.76B | 8.46B | 9.04B | 9.38B |
| Additional Paid-in Capital | 76M | 84M | 60.15M | 79M | 79M | 81M | 82M | 84M | 85.93M |
| Retained Earnings | 891M | 1.07B | 904.57M | 1.5B | 1.35B | 1.58B | 1.8B | 1.47B | 1.61B |
| Accumulated OCI | -188M | 338M | 73.26M | -79M | 25M | 578M | 305M | 1.26B | 872.29M |
| Return on Assets (ROA) | 1.01% | 2.44% | 2.49% | 3.52% | 1.71% | 2.72% | 2.64% | 1.38% | 2.48% |
| Return on Equity (ROE) | 4.2% | 9.6% | 9.45% | 12.39% | 5.78% | 9.34% | 8.87% | 4.47% | 8.16% |
| Debt / Equity | 2.11x | 1.99x | 1.84x | 1.67x | 1.62x | 1.66x | 1.64x | 1.49x | 1.62x |
| Debt / Assets | 52.56% | 51.36% | 49.57% | 49.33% | 47.89% | 47.92% | 50.15% | 46.12% | 48.28% |
| Net Debt / EBITDA | 6.47x | 7.02x | 5.31x | 7.42x | 8.68x | 7.24x | 6.74x | 8.74x | 7.45x |
| Book Value per Share | 33.54 | 35.72 | 27.58 | 37.22 | 39.4 | 43.03 | 44.15 | 45.99 | 44.66 |
Emera Incorporated (EMA) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.19B | 1.69B | 1.52B | 1.64B | 1.19B | 913M | 2.24B | 2.65B | 1.8B |
| Operating CF Growth % | 13.3% | 41.66% | -9.76% | 7.34% | -27.61% | -22.95% | 145.45% | 18.07% | -31.95% |
| Operating CF / Revenue % | 19.16% | 25.9% | 24.95% | 29.73% | 20.56% | 12.03% | 29.63% | 36.75% | 21.69% |
| Net Income | 299M | 747M | 710M | 984M | 561M | 1.01B | 1.04B | 568M | 1.09B |
| Depreciation & Amortization | 851M | 928M | 911M | 899M | 915M | 959M | 1.06B | 1.17B | 1.3B |
| Deferred Taxes | 469M | 185M | 125M | 381M | -37M | 152M | 97M | -191M | 70.94M |
| Other Non-Cash Items | -62M | -45M | -148M | -844M | -102M | -1.01B | 134M | 652M | 100.92M |
| Working Capital Changes | -104M | -116M | -73M | 217M | -152M | -234M | -95M | 452M | -756.38M |
| Capital Expenditures | -1.53B | -2.16B | -2.5B | -2.62B | -2.36B | -2.6B | -2.94B | -3.15B | -3.53B |
| CapEx / Revenue % | 24.56% | 33.14% | 40.83% | 47.64% | 40.92% | 34.21% | 38.83% | 43.76% | 42.51% |
| CapEx / D&A | 1.80x | 2.33x | 2.74x | 2.92x | 2.58x | 2.71x | 2.77x | 2.70x | 2.72x |
| CapEx Coverage (OCF/CapEx) | 0.78x | 0.78x | 0.61x | 0.62x | 0.50x | 0.35x | 0.76x | 0.84x | 0.51x |
| Cash from Investing | -1.76B | -2.19B | -1.62B | -1.22B | -2.33B | -2.57B | -2.92B | -2.22B | -3.48B |
| Acquisitions | 0 | 0 | 875M | 1.4B | 3M | 0 | 0 | 927M | 47.96M |
| Purchase of Investments | -213M | -49M | -3M | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -19M | 21M | 6M | -2M | 24M | 27M | 20M | 6M | 2M |
| Cash from Financing | 593M | 344M | 14M | -372M | 1.31B | 1.55B | 939M | -818M | 1.84B |
| Dividends Paid | -315M | -382M | -423M | -454M | -493M | -535M | -554M | -611M | -650.47M |
| Dividend Payout Ratio % | 97.62% | 46.38% | 53.39% | 41.61% | 79.11% | 46.83% | 46.74% | 94.89% | 52.89% |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K |
| Stock Issued | 682M | 10M | 203M | 285M | 317M | 277M | 424M | 284M | 46.96M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 650M | 269M | -24M | -11M | -13M | -7M | -12M | 3M | -8.99M |
| Net Change in Cash | 12M▲ 0% | -131M▼ 1191.7% | -98M▲ 25.2% | -20M▲ 79.6% | 163M▲ 915.0% | -85M▼ 152.1% | 256M▲ 401.2% | -367M▼ 243.4% | 161.61M▲ 144.0% |
| Exchange Rate Effect | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 739.71K |
| Cash at Beginning | 491M | 503M | 372M | 274M | 254M | 417M | 332M | 588M | 203.09M |
| Cash at End | 503M | 372M | 274M | 254M | 417M | 332M | 588M | 221M | 364.7M |
| Free Cash Flow | -336M▲ 0% | -472M▼ 40.5% | -970M▼ 105.5% | -986M▼ 1.6% | -1.17B▼ 19.1% | -1.68B▼ 43.4% | -696M▲ 58.6% | -505M▲ 27.4% | -1.73B▼ 242.3% |
| FCF Growth % | 95.83% | -40.48% | -105.51% | -1.65% | -19.07% | -43.36% | 58.65% | 27.44% | -242.3% |
| FCF Margin % | -5.4% | -7.23% | -15.87% | -17.91% | -20.36% | -22.18% | -9.2% | -7.01% | -20.82% |
| FCF / Net Income % | -114.29% | -63.27% | -137.01% | -100.31% | -209.64% | -166.96% | -66.67% | -89.07% | -158.86% |
Emera Incorporated (EMA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 4.57% | 4.2% | 9.6% | 9.45% | 12.39% | 5.78% | 9.34% | 8.87% | 4.47% | 8.16% |
| EBITDA Margin | 26.84% | 36.44% | 35.65% | 36.88% | 37.16% | 32% | 34.11% | 37.74% | 31.18% | 34.35% |
| Net Debt / EBITDA | 13.34x | 6.47x | 7.02x | 5.31x | 7.42x | 8.68x | 7.24x | 6.74x | 8.74x | 7.45x |
| Interest Coverage | 1.26x | 2.03x | 1.96x | 1.82x | 1.69x | 1.52x | 2.30x | 1.94x | 1.11x | 1.50x |
| CapEx / Revenue | 212.88% | 24.56% | 33.14% | 40.83% | 47.64% | 40.92% | 34.21% | 38.83% | 43.76% | 42.51% |
| Dividend Payout Ratio | 86.67% | 97.62% | 46.38% | 53.39% | 41.61% | 79.11% | 46.83% | 46.74% | 94.89% | 52.89% |
| Debt / Equity | 2.31x | 2.11x | 1.99x | 1.84x | 1.67x | 1.62x | 1.66x | 1.64x | 1.49x | 1.62x |
| EPS Growth | -51.29% | -6.06% | 157.26% | -13.48% | 36.96% | -47.62% | 79.29% | 0.56% | -52.1% | 97.66% |
Emera Incorporated (EMA) stock FAQ — growth, dividends, profitability & financials explained
Emera Incorporated (EMA) reported $8.79B in revenue for fiscal year 2025. This represents a 966% increase from $824.6M in 1999.
Emera Incorporated (EMA) grew revenue by 15.3% over the past year. This is strong growth.
Yes, Emera Incorporated (EMA) is profitable, generating $1.09B in net income for fiscal year 2025 (13.1% net margin).
Yes, Emera Incorporated (EMA) pays a dividend with a yield of 2.70%. This makes it attractive for income-focused investors.
Emera Incorporated (EMA) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.
Emera Incorporated (EMA) had negative free cash flow of $1.73B in fiscal year 2025, likely due to heavy capital investments.
Emera Incorporated (EMA) has a dividend payout ratio of 53%. This suggests the dividend is well-covered and sustainable.
Emera Incorporated (EMA) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates