Companies: 10,795·Total market cap: $144.5T
Emera Incorporated

Emera Incorporated

EMA.TOTSXUtilities● Active
$71.43
$-0.77(-1.07%)
Market Cap$21.9B
P/E Ratio—
52W High$74.8
52W Low$60.17
Free Cash FlowFinancialsRevenue

Emera Incorporated (EMA.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

EMA.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was −$1.73B for FY2025 (fiscal year ending 2025-12-31), down 242.6% year-over-year The FCF margin was -20.8%.

FY2025 Free Cash Flow−$1.73B▼ -242.6% YoY
Trailing 12M (TTM)−$1.85Btrailing 4 quarters sum
FCF Margin-20.8%−$1.73B ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
ema.to free cash flow history · ema.to free cash flow chart · ema.to free cash flow growth rate · ema.to free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest−$1.73B▼ 242.6%-20.8%
FY2024−$505.0M▲ +27.4%-7.0%
FY2023−$696.0M▲ +58.6%-9.2%
FY2022−$1.68B▼ 43.4%-22.2%
FY2021−$1.17B▼ 19.1%-20.4%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
ema.to free cash flow 2025 · ema.to free cash flow 2024 · ema.to free cash flow 2023 · ema.to operating cash flow

FCF valuation metrics

Emera Incorporated (EMA.TO) reported negative free cash flow of −$1.73B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)
N/A
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
N/A
TTM FCF ÷ Shares Outstanding
Price / FCF
N/A
Share Price ÷ FCF per Share
EV / FCF (TTM)
N/A
Enterprise Value basis
!

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
ema.to price to free cash flow · ema.to free cash flow yield · ema.to free cash flow per share · ema.to price to cash flow ratio

Cash flow statement summary

For FY2025, Emera Incorporated generated $1.80B in operating cash flow and spent 3.53B in capital expenditures, yielding −$1.73B in free cash flow.

Operating Activities
+$1.80B
Cash from core business operations
2025-12-31
Investing Activities
−$3.48B
CapEx, acquisitions & investments
2025-12-31
Financing Activities
+$1.84B
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($1.80B) − |CapEx| (3.53B) = FCF (−$1.73B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
ema.to cash flow statement · ema.to cash flow statement 2025 · ema.to operating cash flow · ema.to cash flow from operations

Free cash flow vs peers (Utilities)

#CompanyFree Cash FlowYoY
#1
Emera Incorporated
Emera IncorporatedYOU
EMA.TO
−$1.73B-242.6%
#2
GE Vernova Inc.
GE Vernova Inc.
GEV
$3.71B+118.3%#3
NextEra Energy, Inc.
NextEra Energy, Inc.
NEE
$3.21B-32.3%#4
Constellation Energy Corporation
Constellation Energy Corporation
CEG
$1.29B+125.6%#5
Duke Energy Corporation
Duke Energy Corporation
DUK
−$1.67B-3583.3%#6
The Southern Company
The Southern Company
SO
−$3.59B-531.0%
Utilities · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Emera Incorporated (EMA.TO) reported free cash flow of −$1.73B for FY2025 (fiscal year ending 2025-12-31), down 242.6% year-over-year. The FCF margin was -20.8%.

Based on available data, Emera Incorporated has maintained positive free cash flow for at least 4 fiscal year(s). FCF peaked at $333.4M in FY2014.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

EMA.TO free cash flow · 8 questions

Emera Incorporated free cash flow was −$1.73B for FY2025, down 242.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$1.85B.

EMA.TO free cash flowEMA.TO FCFEMA.TO FCF 2025EMA.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Emera Incorporated · Emera Incorporated SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026