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TAC

TransAlta Corporation

TAC

TransAlta Corporation • NYSE
$14.55 ▲ 3.49% (+0.49)
Market Cap $4.32 B
52w High $17.88
52w Low $7.82
Dividend Yield 0.13%
P/E -31.63
Volume 683.87K
Outstanding Shares 296.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $615M ▲ $163M ▼ $-49M ▲ -7.967% ▲ $-0.21 ▲ $173M ▲
Q2-2025 $433M ▼ $336M ▲ $-99M ▼ -22.864% ▼ $-0.38 ▼ $123M ▼
Q1-2025 $758M ▲ $332M ▼ $46M ▲ 6.069% ▲ $0.15 ▲ $264M ▲
Q4-2024 $678M ▲ $384M ▲ $-39M ▼ -5.752% ▼ $-0.22 ▼ $160M ▼
Q3-2024 $638M $293M $-23M -3.605% $-0.12 $207M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $222M ▼ $8.939B ▼ $7.276B ▼ $1.579B ▼
Q1-2025 $238M ▼ $9.483B ▼ $7.658B ▲ $1.732B ▼
Q4-2024 $337M ▼ $9.499B ▲ $7.656B ▲ $1.746B ▼
Q3-2024 $401M ▲ $8.654B ▲ $6.733B ▲ $1.814B ▲
Q2-2024 $351M $8.546B $6.639B $1.791B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-49M ▲ $251M ▲ $-101M ▼ $-164M ▼ $-11M ▲ $198M ▲
Q2-2025 $-106M ▼ $157M ▲ $-57M ▲ $-115M ▼ $-16M ▲ $79M ▲
Q1-2025 $42M ▲ $7M ▼ $-144M ▲ $38M ▼ $-99M ▼ $-27M ▼
Q4-2024 $-43M ▼ $215M ▼ $-322M ▼ $44M ▲ $-64M ▼ $101M ▼
Q3-2024 $-22M $229M $-93M $-88M $50M $152M

Five-Year Company Overview

Income Statement

Income Statement TransAlta’s income statement shows a business that has moved from losses earlier in the decade to consistent profitability, but with some noticeable ups and downs. Revenue has grown meaningfully versus five years ago, although it dipped in the most recent year after a particularly strong prior year. Operating profit and EBITDA have generally trended upward, reflecting better asset performance and cost control, but the standout year looks unusually strong and may include favorable market conditions or one‑time items. Net income has swung from losses at the start of the period to clearly positive results more recently, though the latest year is less impressive than the prior one. Overall, the core business is profitable, yet earnings are volatile and sensitive to power prices and one‑off factors.

Balance Sheet

Balance Sheet The balance sheet shows a capital‑intensive utility with rising leverage. Total assets have stayed large but somewhat uneven over the period, likely reflecting asset sales, new projects, and revaluations. Cash on hand was strong a few years ago but has since come down, suggesting that excess liquidity has been drawn down to fund investments or debt management. Debt levels have climbed steadily, outpacing equity growth, which points to a more leveraged structure over time—common in utilities, but still a key risk to monitor. Equity has recovered from earlier lows, helped by recent profitability, yet remains modest relative to total assets, meaning the company relies heavily on borrowing to finance its fleet and growth plans.

Cash Flow

Cash Flow Cash flow is a relative strength. TransAlta has consistently generated positive cash from operations throughout the five‑year period, with a particularly strong year recently followed by a still solid, but lower, performance in the latest year. Free cash flow has generally been positive except during a period of heavy investment, when large capital spending briefly pushed it negative. Capital expenditures have been significant, especially in the middle of the period, aligning with the company’s shift toward cleaner generation and new projects. Overall, the business is largely funding itself from internal cash flows, but big build‑out years can tighten free cash flow and may require careful balance sheet and funding management.

Competitive Edge

Competitive Edge TransAlta’s competitive position rests on scale, diversification, and deep operating experience. It runs a broad mix of hydro, wind, solar, and gas assets across multiple regions, which helps smooth out the impact of local market or regulatory changes. More than a century in the power sector gives it strong relationships, operational know‑how, and credibility with regulators and customers. Its energy marketing and trading capabilities add an extra layer of value, allowing it to optimize production and tailor power products for commercial and industrial customers. On the risk side, it still competes in markets that can be volatile and policy‑driven, faces intense competition from other renewable developers, and must continually navigate evolving climate and market regulations. The moat is meaningful but not unassailable, and execution quality will be critical.

Innovation and R&D

Innovation and R&D Innovation at TransAlta is focused on real‑world projects rather than traditional lab research. The company has already shifted away from coal toward gas and renewables and is building out wind, solar, and hydro‑backed battery storage, including a large battery project to firm up renewable output. It is exploring long‑duration storage, hydrogen, and potentially small modular reactors and carbon capture for future deployment, while also using advanced software and trading tools to squeeze more value from existing assets. Repurposing legacy thermal sites for clean energy projects could lower costs and speed development. These efforts position TransAlta to benefit from the energy transition, but many of the newer technologies carry execution, timing, and commercialization risks, so benefits may materialize gradually and unevenly.

Summary

TransAlta today looks like a utility in mid‑transition: moving away from coal toward a cleaner, more flexible portfolio while trying to keep financial metrics under control. Profitability has improved meaningfully versus five years ago, supported by better operations and favorable conditions in at least one standout year, but earnings remain somewhat volatile. The balance sheet shows rising leverage and reduced cash buffers, reflecting heavy investment in growth and transition projects—typical for the sector but still an area to watch. Cash generation from operations is solid and generally covers investment needs outside peak build years. Competitively, TransAlta benefits from its long history, diversified fleet, and strong energy marketing and customer‑tailored offerings. Its innovation strategy is pragmatic: using today’s proven technologies while selectively testing tomorrow’s. Overall, the company appears financially sturdier than in the past and strategically aligned with decarbonization trends, yet its future performance will hinge on disciplined execution of its growth plan, careful debt management, and the real‑world payoff from newer technologies and projects.

NEWS

November 17, 2025 · 6:30 AM UTC

Hut 8 Announces Sale of 310 MW Power Portfolio to TransAlta Following Successful Optimization and Long-Term Contract Wins

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November 17, 2025 · 6:30 AM UTC

TransAlta to Acquire 310 MW Contracted Ontario Gas Portfolio for $95 Million

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November 6, 2025 · 7:01 AM UTC

TransAlta Reports Third Quarter 2025 Results

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November 6, 2025 · 7:00 AM UTC

TransAlta Announces President and CEO Succession

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October 23, 2025 · 8:00 AM UTC

EagleNXT Announces Sale of Advanced eBee TAC Drones to Defense Logistics Agency

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