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Only single-line railway connecting Canada, the US and Mexico, hauling bulk freight, intermodal containers and industrial goods.
Only single-line railway connecting Canada, the US and Mexico, hauling bulk freight, intermodal containers and industrial goods.
Earns freight charges per shipment, with grain, potash, coal and containers carrying volumes. It bought Kansas City Southern, completing the merger in 2023, which gave it a rail link into Mexico and made it the only railway running from Canada through the US to Mexico on one network.
In one line: A Canadian-Mexican Union Pacific/BNSF peer..
Moat: wide (scale, regulatory licence, installed base). Owns the only single-line rail network spanning Canada-US-Mexico; new competing track is essentially impossible.
Headquarters: Calgary, Canada · Founded: 1881 · Employees: 19,479
Size Canadian Pacific Kansas City (CP.TO) is a Canada Industrials company (Railroads) with a market value of $80.6B, the 12th largest of 420 Canada companies the cockpit tracks. Shares closed at C$129.97 on 6 Nov 2026.
Performance Over six months the shares gained 11.8%, against +10.1% for the median peer and +5.2% for the Canada market (cap-weighted) — 3rd highest of 7 in its peer set.
Growth Revenue grew 6.5% over the last twelve months (peer median +6.4%); the operating margin is 36.8% (peer median 37.0%).
Valuation It trades at 23.0× forward earnings against a peer median of 20.3× (most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.6 points below its cost of capital (8.5% WACC).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$16.0B | C$15.1B | C$14.5B | C$12.6B | C$8.81B |
| Revenue growth | — | +4% | +16% | +42% | — |
| Gross profit | C$6.28B | C$6.08B | C$5.64B | C$4.80B | C$3.52B |
| EBITDA | C$7.97B | C$7.70B | C$7.20B | C$6.07B | C$4.24B |
| Net income | C$3.86B | C$4.14B | C$3.72B | C$3.93B | C$3.52B |
| Free cash flow | C$2.93B | C$2.17B | C$2.41B | C$1.64B | C$2.58B |
| Capital expenditure | C$2.85B | C$3.14B | C$2.86B | C$2.50B | C$1.56B |
| Total debt | C$25.8B | C$23.6B | C$23.0B | C$22.8B | C$19.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Canadian Pacific Kansas City CP.TO | $80.6B | +12% | +7% | 37% | 23.0× | 17.4% |
| Canadian National Railway CNR.TO | $75.0B | +16% | +7% | 38% | 20.0× | 9.4% |
| Union Pacific UNP | $172B | +10% | +7% | 40% | 20.7× | 8.8% |
| Norfolk Southern NSC | $71.9B | +3% | +6% | 33% | 22.6× | 16.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CP.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.1% | +5.2% | 3rd highest of 7 |
| 6-month return | +11.8% | +10.1% | 3rd highest of 7 |
| Distance from 52-week high | -2.7% | -8.1% | 2nd highest of 7 |
| Revenue growth (TTM) | +6.5% | +6.4% | 4th highest of 7 |
| Operating margin | 36.8% | 37.0% | 4th highest of 7 |
| Forward P/E | 23.0× | 20.3× | most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 17.4% | 9.4% | most demanding of 6 |
| Growth delivered (Del g) | +14.4% | +4.6% | highest of 6 |
| Hurdle (Req g minus delivered) | +3.0 pp | +4.8 pp | 2nd least demanding of 6 |
| ROIC minus cost of capital | -2.6 pp | +2.5 pp | lowest of 7 |
| EV / EBITDA | 17.5× | 15.3× | most expensive of 6 |
| Net debt / EBITDA | 3.2× | 2.5× | 2nd most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Canadian Pacific Kansas City CP.TO | Canada | $80.6B | +12% | +7% | 37% | 23.0× | 17.4% | +14.4% |
| Canadian National Railway CNR.TO | Canada | $75.0B | +16% | +7% | 38% | 20.0× | 9.4% | +4.6% |
| Norfolk Southern NSC | United States | $71.9B | +3% | +6% | 33% | 22.6× | 16.6% | +4.5% |
| CSX CSX | United States | $90.5B | +10% | +6% | 36% | 21.5× | 13.6% | +5.9% |
| Beijing-Shanghai High-Speed Railway 601816.SS | China | $39.3B | +9% | +3% | 44% | 18.7× | -2.8% | +11.3% |
| Union Pacific UNP | United States | $172B | +10% | +7% | 40% | 20.7× | 8.8% | +4.6% |
| East Japan Railway 9020.T | Japan | $27.4B | +13% | +9% | 14% | 15.8× | n/a | n/a |