Algonquin Power & Utilities Corp.

AQN.TOTSXUtilities● Active

$8.38

+$0.01(+0.06%)

Market Cap$6.4B

P/E Ratio—

52W High$9.69

52W Low$7.26

Avg Volume2.4M

Open$8.34

Beta0.90

Free Cash Flow Financials Revenue

Algonquin Power & Utilities Corp. (AQN.TO) Free Cash Flow & Analysis

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

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

Core FCF metrics

AQN.TO · FCF · TTM · margin & CAGR

Free cash flow was −$181.4M for FY2025 (fiscal year ending 2025-12-31), up 51.2% year-over-year The FCF margin was -7.4%.

FY2025 Free Cash Flow−$181.4M▲ +51.2% YoY

Trailing 12M (TTM)−$110.3Mtrailing 4 quarters sum

FCF Margin-7.4%−$181.4M ÷ 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

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

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$604.0M(785M)−$181.4M▲ +51.2%-7.4%

FY2024$458.6M(831M)−$371.9M▲ +8.1%-16.0%

FY2023$638.2M(1.04B)−$404.6M▲ +11.3%-16.8%

FY2022$600.7M(1.06B)−$455.9M▲ +61.0%-16.5%

FY2021$154.8M(1.32B)−$1.17B▼ 295.7%-51.3%

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

FCF valuation metrics

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

Algonquin Power & Utilities Corp. (AQN.TO) reported negative free cash flow of −$0.18B. 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

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

For FY2025, Algonquin Power & Utilities Corp. generated $604.0M in operating cash flow and spent 785M in capital expenditures, yielding −$181.4M in free cash flow.

Operating Activities

+$604.0M

Cash from core business operations

2025-12-31

Investing Activities

+$1.19B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.85B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($604.0M) − |CapEx| (785M) = FCF (−$181.4M)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Utilities)

AQN.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Algonquin Power & Utilities Corp.YOU

AQN.TO

−$181.4M+51.2%-7.4%

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

Algonquin Power & Utilities Corp. (AQN.TO) reported free cash flow of −$181.4M for FY2025 (fiscal year ending 2025-12-31), up 51.2% year-over-year. The FCF margin was -7.4%.

Based on available data, Algonquin Power & Utilities Corp. has maintained positive free cash flow for at least 4 fiscal year(s). FCF peaked at $60.9M in FY2018.

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

AQN.TO free cash flow · 8 questions

Algonquin Power & Utilities Corp. free cash flow was −$181.4M for FY2025, up 51.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$110.3M.

AQN.TO free cash flowAQN.TO FCFAQN.TO FCF 2025AQN.TO free cash flow TTM

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