AltaGas Ltd.

ALA.TOTSXUtilities● Active

$54.73

$-1.03(-1.85%)

Market Cap$17.1B

P/E Ratio—

52W High$55.84

52W Low$37.73

Avg Volume1.2M

Open$55.62

Beta0.49

Free Cash Flow Financials Revenue

AltaGas Ltd. (ALA.TO) Free Cash Flow & Analysis

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

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

Core FCF metrics

ALA.TO · FCF · TTM · margin & CAGR

Free cash flow was −$344.0M for FY2025 (fiscal year ending 2025-12-31), down 330.9% year-over-year The FCF margin was -2.7%.

FY2025 Free Cash Flow−$344.0M▼ -330.9% YoY

Trailing 12M (TTM)−$486.0Mtrailing 4 quarters sum

FCF Margin-2.7%−$344.0M ÷ 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

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ALA.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.24B(1.58B)−$344.0M▼ 330.9%-2.7%

FY2024$1.54B(1.39B)$149.0M▼ 16.3%1.2%

FY2023$1.12B(943M)$178.0M▲ +142.5%1.4%

FY2022$539.0M(958M)−$419.0M▼ 451.3%-2.9%

FY2021$738.0M(814M)−$76.0M▼ 8.6%-0.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ALA.TO · P/FCF · FCF yield · FCF per share

AltaGas Ltd. (ALA.TO) reported negative free cash flow of −$0.34B. 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

Cash flow statement summary

ALA.TO · cash flow statement · operating / investing / financing

For FY2025, AltaGas Ltd. generated $1.24B in operating cash flow and spent 1.58B in capital expenditures, yielding −$344.0M in free cash flow.

Operating Activities

+$1.24B

Cash from core business operations

2025-12-31

Investing Activities

−$1.28B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$54.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.24B) − |CapEx| (1.58B) = FCF (−$344.0M)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Utilities)

ALA.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

AltaGas Ltd.YOU

ALA.TO

−$344.0M-330.9%-2.7%

Loss

Constellation Energy Corporation

CEG

$1.29B+125.6%5.0%

35%

Duke Energy Corporation

Utilities · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

AltaGas Ltd. (ALA.TO) reported free cash flow of −$344.0M for FY2025 (fiscal year ending 2025-12-31), down 330.9% year-over-year. The FCF margin was -2.7%.

Based on available data, AltaGas Ltd. has maintained positive free cash flow for at least 3 fiscal year(s). FCF peaked at $178.0M in FY2023.

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.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ALA.TO free cash flow · 8 questions

AltaGas Ltd. free cash flow was −$344.0M for FY2025, down 330.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$486.0M.

ALA.TO free cash flowALA.TO FCFALA.TO FCF 2025ALA.TO free cash flow TTM

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