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EMA logoEmera Incorporated(EMA)Earnings, Financials & Key Ratios

EMA•NYSE•Utilities
$52.27
$15.77B mkt cap·21.0× P/E·Price updated May 6, 2026
SectorUtilitiesIndustryElectric UtilitiesSub-IndustryElectric and gas combination utilities
AboutEmera Incorporated, an energy and services company, invests in generation, transmission, and distribution of electricity in the United States, Canada, Barbados, and the Bahamas. The company operates through Florida Electric Utility, Canadian Electric Utilities, Gas Utilities and Infrastructure, Other Electric Utilities, and Other segments. It is also involved in the purchase, transmission, distribution, and sale of natural gas; and physical energy marketing, trading, and other energy asset management activities. The company was incorporated in 1998 and is headquartered in Halifax, Canada.Show more
  • Revenue$8.3B+15.3%
  • EBITDA$2.85B+27.0%
  • Net Income$1.09B+91.9%
  • Free Cash Flow-$1.73B-242.3%
  • EBITDA Margin34.35%+10.2%
  • Net Margin13.11%+66.4%
  • ROE8.16%+82.6%
  • Interest Coverage1.50+35.9%
  • Debt/Equity1.62+8.4%
  • Net Debt/EBITDA7.45-14.7%
  • CapEx / Revenue42.51%-2.9%
  • CapEx Coverage0.51-39.2%
Analysis→Technical→

EMA Key Insights

Emera Incorporated (EMA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓10 years of consecutive dividend growth
  • ✓10 consecutive years of dividend growth
  • ✓Healthy dividend yield of 2.7%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗High leverage: 7.6x Debt/EBITDA

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

EMA Price & Volume

Emera Incorporated (EMA) stock price & volume — 10-year historical chart

Loading chart...

EMA Growth Metrics

Emera Incorporated (EMA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years11.53%
5 Years8.56%
3 Years3.04%
TTM22.05%

Profit CAGR

10 Years9.81%
5 Years2.05%
3 Years2.58%
TTM92.05%

EPS CAGR

10 Years2.23%
5 Years-2.21%
3 Years-1.62%
TTM97.92%

Return on Capital

10 Years4.54%
5 Years4.2%
3 Years4.13%
Last Year4.09%

EMA Recent Earnings

Emera Incorporated (EMA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (70%)●Beat Revenue 10/12 qtrs (100%)
Q1 2026Latest
Feb 23, 2026
EPS
$0.40
Est $0.42
-3.9%
Revenue
$1.5B
Est $1.1B
+28.5%
Q4 2025
Nov 7, 2025
EPS
$0.64
Est $0.44
+45.7%
Revenue
$2.1B
Est $1.7B
+24.1%
Q3 2025
Aug 7, 2025
EPS
$0.57
Est $0.47
+22.5%
Revenue
$2.0B
Est $1.8B
+9.7%
Q2 2025
May 8, 2025
EPS
$2.02
Est $0.71
+184.9%
Revenue
$2.7B
Est $1.5B
+83.9%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 23, 2026
$0.40vs $0.42-3.9%
$1.5Bvs $1.1B+28.5%
Q4 2025Nov 7, 2025
$0.64vs $0.44+45.7%
$2.1Bvs $1.7B+24.1%
Q3 2025Aug 7, 2025
$0.57vs $0.47+22.5%
$2.0Bvs $1.8B+9.7%
Q2 2025May 8, 2025
$2.02vs $0.71+184.9%
$2.7Bvs $1.5B+83.9%
Based on last 12 quarters of dataView full earnings history →

EMA Peer Comparison

Emera Incorporated (EMA) competitors in Electric and gas combination utilities — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
AES logoAESThe AES CorporationDirect Competitor10.23B14.3411.38-0.37%8.42%10.65%2.54
ETR logoETREntergy CorporationDirect Competitor51.71B112.9628.898.98%13.56%10.57%1.80
PPL logoPPLPPL CorporationDirect Competitor27.48B36.8823.056.85%13.06%5.46%0.85
EVRG logoEVRGEvergy, Inc.Direct Competitor18.65B80.9922.132.37%14.63%8.22%0.07
PNW logoPNWPinnacle West Capital CorporationDirect Competitor12.14B100.1719.844.2%11.99%9.27%2.52
NWE logoNWENorthwestern Energy Group IncDirect Competitor4.37B71.0824.186.38%10.21%5.8%1.14
NEE logoNEENextEra Energy, Inc.Product Competitor198.92B95.3928.9911%29.3%12.66%1.44
DUK logoDUKDuke Energy CorporationProduct Competitor97.7B125.5419.906.19%15.44%9.6%1.71

Compare EMA vs Peers

Emera Incorporated (EMA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AES

Most directly comparable listed peer for EMA.

Scale Benchmark

vs GE

Larger-name benchmark to compare EMA against a more recognizable public peer.

Peer Set

Compare Top 5

vs AES, ETR, PPL, EVRG

EMA Income Statement

Emera Incorporated (EMA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue6.23B6.52B6.11B5.51B5.76B7.59B7.56B7.2B8.3B
Revenue Growth %45.57%4.79%-6.33%-9.9%4.7%31.62%-0.33%-4.8%15.31%
Cost of Revenue3.63B3.87B3.49B3.13B3.6B4.56B4.28B4.29B6.26B
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 Expenses1.18B1.26B1.28B1.23B1.24B1.4B1.49B1.82B485.6M
Other Operating Expenses---------
EBITDA2.27B2.33B2.25B2.05B1.84B2.59B2.85B2.25B2.85B
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 & Amortization851M928M911M899M915M959M1.06B1.17B1.3B
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 Expense698M713M738M679M611M709M927M975M1.03B
Interest Coverage2.03x1.96x1.82x1.69x1.52x2.30x1.94x1.11x1.50x
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-1000K1000K-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 Tax520M69M61M341M-6M185M128M-159M80.93M
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)1.253.202.763.791.983.563.571.713.39
Diluted Shares Outstanding214.1M234M240.5M248.2M257.6M265.9M273.8M289M299.7M

EMA Balance Sheet

Emera Incorporated (EMA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets28.77B32.31B24.56B31.23B34.24B39.74B39.48B42.95B44.78B
Asset Growth %-1.54%12.31%-24.01%27.2%9.64%16.06%-0.66%8.79%4.26%
PP&E (Net)17B18.71B14.06B19.6B20.35B23B24.38B26.17B27.43B
PP&E / Total Assets %59.07%57.91%57.25%62.74%59.44%57.86%61.74%60.93%61.26%
Total Current Assets2.53B2.83B1.92B2.18B3.14B4.9B3.71B3.69B4.39B
Cash & Equivalents438M273M210.53M220M394M310M567M196M364.7M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Inventory418M474M360.13M453M538M769M790M781M820.33M
Other Current Assets532M862M415.65M621M1.07B2.06B1.08B1.42B1.15B
Long-Term Investments1.22B1.32B1.4B1.35B1.38B1.42B1.4B654M1.25B
Goodwill5.8B6.31B4.5B5.72B5.7B6.01B5.87B5.86B5.58B
Intangible Assets000000000
Other Assets2.09B2.97B2.53B2.39B3.38B4.18B3.92B6.19B5.72B
Total Liabilities21.59B23.96B17.92B22B24.09B28.3B27.39B29.66B31.4B
Total Debt15.12B16.6B12.17B15.41B16.4B19.04B19.8B19.81B21.62B
Net Debt14.68B16.32B11.96B15.19B16.01B18.73B19.23B19.61B21.25B
Long-Term Debt13.14B14.29B10.55B12.34B14.2B15.74B17.69B18.17B18.49B
Short-Term Borrowings1.98B2.31B1.58B3.01B2.2B3.3B2.11B1.63B3.01B
Capital Lease Obligations0-3.1B47.04M63M0000118.9M
Total Current Liabilities3.95B4.55B3.21B4.88B4.88B7.29B4.54B5.12B6.62B
Accounts Payable1.16B1.29B862.16M1.15B1.49B2.02B1.45B1.99B1.95B
Accrued Expenses41M287M16.97M241M232M271M279M295M21.98M
Deferred Revenue265M15M0000000
Other Current Liabilities762M666M757.28M476M945M1.67B689M1.18B1.64B
Deferred Taxes1000K1000K1000K01000K1000K1000K1000K1000K
Other Liabilities1.63B686M3.12B4.72B3.15B3.07B2.81B4.04B3.65B
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 Equity7.09B8.32B6.61B9.2B10.12B11.43B12.07B13.28B13.37B
Minority Interest92M41M26.99M34M34M14M14M14M13.99M
Common Stock5.6B5.82B4.79B6.71B7.24B7.76B8.46B9.04B9.38B
Additional Paid-in Capital76M84M60.15M79M79M81M82M84M85.93M
Retained Earnings891M1.07B904.57M1.5B1.35B1.58B1.8B1.47B1.61B
Accumulated OCI-188M338M73.26M-79M25M578M305M1.26B872.29M
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 / Equity2.11x1.99x1.84x1.67x1.62x1.66x1.64x1.49x1.62x
Debt / Assets52.56%51.36%49.57%49.33%47.89%47.92%50.15%46.12%48.28%
Net Debt / EBITDA6.47x7.02x5.31x7.42x8.68x7.24x6.74x8.74x7.45x
Book Value per Share33.5435.7227.5837.2239.443.0344.1545.9944.66

EMA Cash Flow Statement

Emera Incorporated (EMA) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations1.19B1.69B1.52B1.64B1.19B913M2.24B2.65B1.8B
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 Income299M747M710M984M561M1.01B1.04B568M1.09B
Depreciation & Amortization851M928M911M899M915M959M1.06B1.17B1.3B
Deferred Taxes469M185M125M381M-37M152M97M-191M70.94M
Other Non-Cash Items-62M-45M-148M-844M-102M-1.01B134M652M100.92M
Working Capital Changes-104M-116M-73M217M-152M-234M-95M452M-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&A1.80x2.33x2.74x2.92x2.58x2.71x2.77x2.70x2.72x
CapEx Coverage (OCF/CapEx)0.78x0.78x0.61x0.62x0.50x0.35x0.76x0.84x0.51x
Cash from Investing-1.76B-2.19B-1.62B-1.22B-2.33B-2.57B-2.92B-2.22B-3.48B
Acquisitions00875M1.4B3M00927M47.96M
Purchase of Investments-213M-49M-3M000000
Sale of Investments000000000
Other Investing-19M21M6M-2M24M27M20M6M2M
Cash from Financing593M344M14M-372M1.31B1.55B939M-818M1.84B
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)1000K1000K1000K-1000K1000K1000K1000K-1000K1000K
Stock Issued682M10M203M285M317M277M424M284M46.96M
Share Repurchases000000000
Other Financing650M269M-24M-11M-13M-7M-12M3M-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-1000K1000K-1000K-1000K-1000K1000K-1000K1000K739.71K
Cash at Beginning491M503M372M274M254M417M332M588M203.09M
Cash at End503M372M274M254M417M332M588M221M364.7M
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%

EMA Key Ratios

Emera Incorporated (EMA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
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 Margin26.84%36.44%35.65%36.88%37.16%32%34.11%37.74%31.18%34.35%
Net Debt / EBITDA13.34x6.47x7.02x5.31x7.42x8.68x7.24x6.74x8.74x7.45x
Interest Coverage1.26x2.03x1.96x1.82x1.69x1.52x2.30x1.94x1.11x1.50x
CapEx / Revenue212.88%24.56%33.14%40.83%47.64%40.92%34.21%38.83%43.76%42.51%
Dividend Payout Ratio86.67%97.62%46.38%53.39%41.61%79.11%46.83%46.74%94.89%52.89%
Debt / Equity2.31x2.11x1.99x1.84x1.67x1.62x1.66x1.64x1.49x1.62x
EPS Growth-51.29%-6.06%157.26%-13.48%36.96%-47.62%79.29%0.56%-52.1%97.66%

EMA Frequently Asked Questions

Emera Incorporated (EMA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

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).

Dividend & Returns

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.

Industry Metrics

Emera Incorporated (EMA) has a dividend payout ratio of 53%. This suggests the dividend is well-covered and sustainable.

Explore More EMA

Emera Incorporated (EMA) financial analysis — history, returns, DCA and operating performance tools

Full EMA Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Historical returns with dividends reinvested

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DCA Calculator

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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