Hydro One revenue and financials
$51.26Change from previous close: +0.65%Absolute change: +$0.33
In the fiscal year ended December 2025, Hydro One reported revenue of $9.04B (+6.57% year over year). Net income was $1.34B, a net margin of 14.8%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +6.57%
- 2025 vs 2024
- Net income growth
- +15.83%
- 2025 vs 2024
- Net margin
- 14.8%
- 2024: 13.6%
Financial data
Amounts in millions of CAD; per-share values in CAD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 686 | 394 | 867 | 713 | 605 | 510 | 703 | 623 | 746 | 462 | 768 | 642 |
| Depreciation and amortization | 247 | 249 | 256 | 243 | 232 | — | — | — | — | — | — | — |
| Capital expenditure | -719 | -753 | -863 | -810 | -829 | -681 | -770 | -789 | -820 | -645 | -915 | -581 |
| Investing cash flow | -728 | -727 | -887 | -830 | -827 | -974 | -797 | -799 | -846 | -690 | -819 | -677 |
| Financing cash flow | 648 | -179 | 157 | 458 | 170 | -129 | 562 | 350 | -512 | 835 | 71.0 | 70.0 |
| Dividends paid | -212 | -200 | -200 | -200 | -200 | -188 | -188 | -189 | -188 | -178 | -178 | -177 |
| Debt issued | 2,298 | 800 | 2,634 | 2,994 | 2,065 | 1,075 | 1,275 | 1,921 | 1,095 | 1,300 | 1,970 | 2,545 |
| Debt repaid | -1,425 | -800 | -2,270 | -2,335 | -1,700 | -1,015 | -520 | -1,375 | -1,415 | -280 | -1,720 | -2,295 |
| Net change in cash | 606 | -512 | 137 | 341 | -52.0 | -593 | 468 | 174 | -612 | 607 | 20.0 | 35.0 |
| Free cash flow | -33.0 | -359 | 4.0 | -97.0 | -224 | -171 | -67.0 | -166 | -74.0 | -183 | -147 | 61.0 |
| Levered free cash flow | -259 | -684 | 3.1 | -385 | -346 | -377 | -118 | -354 | -191 | -396 | -331 | -146 |