Teekay Corp Ltd
TK NYSE Deep Sea Foreign Transportation Of Freight Financials FY2016–FY2025
Last close · Oct 23, 2026
$14.72
4.3%
Revenue
Total sales reported in the income statement.
$950M
22.2%
vs prior year
Operating margin
Operating income as a share of revenue.
31.9%
2.0 pts
Net income
Profit after all expenses, interest and tax.
$98.1M
26.7%
Free cash flow
Cash from operations minus capital spending.
$112M
71.9%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.3B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
13.0x
On $1.13 EPS (TTM)
What Teekay Corp Ltd does
No business description yet.
- Legal name
- TEEKAY CORP LTD
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Mar 13, 2026
- Accession · CIK
- 0000911971-26-000015
0000911971
Revenue and margins
Teekay Corp Ltd had $950M of revenue in fiscal 2025, down 22.2% on the year before.
FY16
Revenue $2.3B
FY17
Revenue $1.9B
FY18
Revenue $1.7B
FY19
Revenue $1.3B
FY20
Revenue $1.1B
FY21
Revenue $683M
FY22
Revenue $1.2B
FY23
Revenue $1.5B
FY24
Revenue $1.2B
FY25
Revenue $950M
Q1 '19
Revenue —
Q2 '19
Revenue $462M
Q3 '19
Revenue $426M
Q4 '19
Revenue −$100M
Q1 '20
Revenue —
Q2 '20
Revenue $483M
Q3 '20
Revenue $397M
Q4 '20
Revenue −$307M
Q1 '21
Revenue —
Q2 '21
Revenue $325M
Q3 '21
Revenue $320M
Q4 '21
Revenue −$322M
FY16
Gross —
Operating 16.5%
Net −5.3%
FCF 1.2%
FY17
Gross 91.8%
Operating 0.4%
Net −8.7%
FCF −27.1%
FY18
Gross 76.3%
Operating 9.5%
Net −4.6%
FCF −29.6%
FY19
Gross 68.4%
Operating −8.6%
Net −24.4%
FCF 29.2%
FY20
Gross 74.1%
Operating 6.1%
Net −7.2%
FCF 84.4%
FY21
Gross 53.8%
Operating −27.2%
Net 1.1%
FCF 8.3%
FY22
Gross 58.4%
Operating 20.6%
Net 6.6%
FCF 16.7%
FY23
Gross 67.6%
Operating 36.3%
Net 10.3%
FCF 43.0%
FY24
Gross 66.8%
Operating 29.9%
Net 11.0%
FCF 32.5%
FY25
Gross 66.6%
Operating 31.9%
Net 10.3%
FCF 11.7%
Gross
Operating
Net
FCF
Q1 '19
Gross —
Operating —
Net —
FCF —
Q2 '19
Gross 77.6%
Operating 15.5%
Net −8.5%
FCF —
Q3 '19
Gross 77.0%
Operating −30.6%
Net −46.5%
FCF 15.9%
Q4 '19
Gross 192.2%
Operating 134.4%
Net −11.3%
FCF −214.1%
Q1 '20
Gross —
Operating —
Net —
FCF —
Q2 '20
Gross 86.1%
Operating 30.8%
Net 4.5%
FCF —
Q3 '20
Gross 84.4%
Operating 2.9%
Net −8.9%
FCF 28.4%
Q4 '20
Gross 115.3%
Operating 71.2%
Net 6.3%
FCF −30.1%
Q1 '21
Gross —
Operating —
Net —
FCF —
Q2 '21
Gross 76.0%
Operating −8.3%
Net −0.6%
FCF —
Q3 '21
Gross 73.3%
Operating 5.9%
Net −0.9%
FCF 1.6%
Q4 '21
Gross 123.3%
Operating 74.0%
Net 5.4%
FCF −16.4%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income −$123M
FY17
Net income −$163M
FY18
Net income −$79.2M
FY19
Net income −$311M
FY20
Net income −$82.9M
FY21
Net income $7.8M
FY22
Net income $78.4M
FY23
Net income $151M
FY24
Net income $134M
FY25
Net income $98.1M
Q1 '19
Net income −$61.5M
Q2 '19
Net income −$39.5M
Q3 '19
Net income −$198M
Q4 '19
Net income $11.3M
Q1 '20
Net income $52.0M
Q2 '20
Net income $21.7M
Q3 '20
Net income −$35.4M
Q4 '20
Net income −$19.4M
Q1 '21
Net income $61.5M
Q2 '21
Net income −$1.8M
Q3 '21
Net income −$2.9M
Q4 '21
Net income −$17.4M
FY16
Diluted EPS −$1.62
FY17
Diluted EPS −$1.89
FY18
Diluted EPS −$0.79
FY19
Diluted EPS −$3.08
FY20
Diluted EPS −$0.82
FY21
Diluted EPS $0.08
FY22
Diluted EPS $0.76
FY23
Diluted EPS $1.54
FY24
Diluted EPS $1.42
FY25
Diluted EPS $1.13
Q1 '19
Diluted EPS —
Q2 '19
Diluted EPS −$0.39
Q3 '19
Diluted EPS −$1.97
Q4 '19
Diluted EPS —
Q1 '20
Diluted EPS —
Q2 '20
Diluted EPS $0.21
Q3 '20
Diluted EPS −$0.35
Q4 '20
Diluted EPS —
Q1 '21
Diluted EPS —
Q2 '21
Diluted EPS −$0.02
Q3 '21
Diluted EPS −$0.03
Q4 '21
Diluted EPS —
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 2.9%
Return on equity −3.0%
Return on assets −1.0%
FY17
Return on capital 0.1%
Return on equity −4.7%
Return on assets −1.6%
FY18
Return on capital 2.3%
Return on equity −2.8%
Return on assets −1.0%
FY19
Return on capital −1.6%
Return on equity −11.4%
Return on assets −3.8%
FY20
Return on capital 1.9%
Return on equity −3.3%
Return on assets −1.1%
FY21
Return on capital −4.8%
Return on equity 0.3%
Return on assets 0.1%
FY22
Return on capital 28.0%
Return on equity 4.1%
Return on assets 1.8%
FY23
Return on capital 45.3%
Return on equity 9.5%
Return on assets 6.9%
FY24
Return on capital —
Return on equity 7.2%
Return on assets 6.2%
FY25
Return on capital —
Return on equity 4.8%
Return on assets 4.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $112M in fiscal 2025, 11.7% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $28.2M
FY17
Free cash flow −$510M
FY18
Free cash flow −$512M
FY19
Free cash flow $372M
FY20
Free cash flow $968M
FY21
Free cash flow $56.7M
FY22
Free cash flow $199M
FY23
Free cash flow $630M
FY24
Free cash flow $397M
FY25
Free cash flow $112M
Q1 '19
Free cash flow —
Q2 '19
Free cash flow —
Q3 '19
Free cash flow $67.6M
Q4 '19
Free cash flow $214M
Q1 '20
Free cash flow —
Q2 '20
Free cash flow —
Q3 '20
Free cash flow $113M
Q4 '20
Free cash flow $92.3M
Q1 '21
Free cash flow —
Q2 '21
Free cash flow —
Q3 '21
Free cash flow $5.0M
Q4 '21
Free cash flow $52.9M
FY16
Cash from operations $677M
Capital spending $648M
FY17
Cash from operations $544M
Capital spending $1.1B
FY18
Cash from operations $182M
Capital spending $694M
FY19
Cash from operations $383M
Capital spending $11.6M
FY20
Cash from operations $984M
Capital spending $16.0M
FY21
Cash from operations $78.1M
Capital spending $21.4M
FY22
Cash from operations $199M
Capital spending $0.0M
FY23
Cash from operations $630M
Capital spending $0.0M
FY24
Cash from operations $467M
Capital spending $70.5M
FY25
Cash from operations $302M
Capital spending $190M
Cash from operations
Capital spending
Q1 '19
Cash from operations —
Capital spending —
Q2 '19
Cash from operations —
Capital spending —
Q3 '19
Cash from operations $77.2M
Capital spending $9.6M
Q4 '19
Cash from operations $127M
Capital spending −$87.1M
Q1 '20
Cash from operations —
Capital spending —
Q2 '20
Cash from operations —
Capital spending —
Q3 '20
Cash from operations $118M
Capital spending $5.6M
Q4 '20
Cash from operations $89.9M
Capital spending −$2.4M
Q1 '21
Cash from operations —
Capital spending —
Q2 '21
Cash from operations —
Capital spending —
Q3 '21
Cash from operations $25.5M
Capital spending $20.4M
Q4 '21
Cash from operations $33.8M
Capital spending −$19.1M
Cash from operations
Capital spending
Dividends, buybacks and share count
Teekay Corp Ltd returned $90.2M to shareholders in fiscal 2025, 81% of free cash flow. The diluted share count fell 7.0%.
FY16
Dividends $17.4M
Buybacks —
FY17
Dividends $19.0M
Buybacks $0.0M
FY18
Dividends $22.1M
Buybacks $0.0M
FY19
Dividends $5.5M
Buybacks $25.7M
FY20
Dividends $0.0M
Buybacks $0.0M
FY21
Dividends $0.0M
Buybacks $0.0M
FY22
Dividends $0.0M
Buybacks $15.4M
FY23
Dividends $0.0M
Buybacks $50.7M
FY24
Dividends $85.0M
Buybacks $66.3M
FY25
Dividends $85.3M
Buybacks $4.9M
Dividends
Buybacks
Q1 '19
Dividends —
Buybacks —
Q2 '19
Dividends —
Buybacks —
Q3 '19
Dividends $0.0M
Buybacks —
Q4 '19
Dividends $0.0M
Buybacks —
Q1 '20
Dividends —
Buybacks —
Q2 '20
Dividends —
Buybacks —
Q3 '20
Dividends $0.0M
Buybacks —
Q4 '20
Dividends $0.0M
Buybacks —
Q1 '21
Dividends —
Buybacks —
Q2 '21
Dividends —
Buybacks —
Q3 '21
Dividends —
Buybacks —
Q4 '21
Dividends —
Buybacks —
Dividends
Buybacks
FY16
Diluted shares 0.08B
FY17
Diluted shares 0.09B
FY18
Diluted shares 0.10B
FY19
Diluted shares 0.10B
FY20
Diluted shares 0.10B
FY21
Diluted shares 0.10B
FY22
Diluted shares 0.10B
FY23
Diluted shares 0.10B
FY24
Diluted shares 0.09B
FY25
Diluted shares 0.09B
Balance sheet
Cash, debt and the ratios that show how comfortably Teekay Corp Ltd can carry it.
FY16
Cash $568M
Debt $6.6B
FY17
Cash $445M
Debt $3.4B
FY18
Cash $424M
Debt $5.0B
FY19
Cash $176M
Debt $4.7B
FY20
Cash $129M
Debt $2.3B
FY21
Cash $109M
Debt $696M
FY22
Cash $520M
Debt $21.2M
FY23
Cash $653M
Debt $0.0M
FY24
Cash $708M
Debt —
FY25
Cash $941M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $109M | $520M | $653M | $708M | $941M |
| Debt incl. finance leases | $696M | $21.2M | $0.0M | — | — |
| Net debt / EBITDA | — | −1.4x | −1.0x | — | — |
| Debt / equity | 0.3x | 0.0x | 0.0x | — | — |
| Interest coverage | −2.7x | 6.4x | 19.0x | 48.4x | 104.6x |
| Current ratio | 1.5x | 3.5x | 5.3x | 7.0x | 8.9x |
| Quick ratio | 1.5x | 3.3x | 5.0x | 6.6x | 8.7x |
| Total assets | $6.5B | $2.2B | $2.2B | $2.2B | $2.4B |
| Total liabilities | $4.1B | $795M | $396M | $218M | $197M |
| Shareholders' equity | $2.4B | $1.4B | $1.8B | $1.9B | $2.2B |
| Net debt (− = net cash) | $588M | −$499M | −$653M | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | — | — |
| Current ratio rose | — | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ |
| Gross margin rose | — | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✓ | ✕ | ✕ |
| Revenue rose relative to assets | — | ✓ | ✕ | ✕ | ✓ | ✕ | ✓ | ✓ | ✕ | ✕ |
| F-score | — / 3 | 4 / 8 | 5 / 9 | 3 / 9 | 6 / 9 | 5 / 9 | 8 / 9 | 9 / 9 | 5 / 8 | 5 / 8 |
| Accruals ratio | −6.2% | −6.8% | −3.2% | −8.4% | −14.2% | −1.0% | −2.8% | −22.0% | −15.3% | −9.0% |
| Altman Z'' | 0.53 | 0.10 | 0.75 | 0.16 | 0.20 | 1.98 | 3.77 | 8.32 | 12.63 | 15.10 |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $2.3B | $1.9B | $1.7B | $1.3B | $1.1B | $683M | $1.2B | $1.5B | $1.2B | $950M |
| Provision for credit losses | $0.0M | — | — | — | — | — | — | — | — | — |
| Gross profit | — | $1.7B | $1.3B | $873M | $849M | $367M | $695M | $991M | $815M | $632M |
| Operating income | $384M | $6.7M | $164M | −$109M | $70.2M | −$185M | $246M | $532M | $365M | $303M |
| Interest expense | $283M | $268M | $254M | $111M | $89.1M | $68.4M | $38.6M | $28.0M | $7.5M | $2.9M |
| Pretax income | $111M | −$517M | −$38.0M | −$307M | −$18.7M | −$282M | $211M | $530M | $402M | $347M |
| Income tax | $24.5M | $12.2M | $19.7M | $17.8M | $5.6M | −$5.0M | $1.4M | $12.2M | $0.4M | −$4.6M |
| Net income | −$123M | −$163M | −$79.2M | −$311M | −$82.9M | $7.8M | $78.4M | $151M | $134M | $98.1M |
| Net income to common | −$128M | −$163M | −$79.2M | −$311M | — | — | — | — | — | — |
| Diluted EPS | −$1.62 | −$1.89 | −$0.79 | −$3.08 | −$0.82 | $0.08 | $0.76 | $1.54 | $1.42 | $1.13 |
| Diluted shares | 0.08B | 0.09B | 0.10B | 0.10B | 0.10B | 0.10B | 0.10B | 0.10B | 0.09B | 0.09B |
| Cash flow | ||||||||||
| Cash from operations | $677M | $544M | $182M | $383M | $984M | $78.1M | $199M | $630M | $467M | $302M |
| Capital expenditure | $648M | $1.1B | $694M | $11.6M | $16.0M | $21.4M | $0.0M | $0.0M | $70.5M | $190M |
| Free cash flow | $28.2M | −$510M | −$512M | $372M | $968M | $56.7M | $199M | $630M | $397M | $112M |
| Depreciation and amortization | $572M | $486M | $276M | $154M | $131M | $106M | $99.0M | $97.6M | $93.6M | $86.6M |
| Acquisitions | $0.0M | $0.0M | — | — | — | — | — | — | — | — |
| Share buybacks | — | $0.0M | $0.0M | $25.7M | $0.0M | $0.0M | $15.4M | $50.7M | $66.3M | $4.9M |
| Dividends paid | $17.4M | $19.0M | $22.1M | $5.5M | $0.0M | $0.0M | $0.0M | $0.0M | $85.0M | $85.3M |
| Dividends and buybacks | $17.4M | $19.0M | $22.1M | $31.3M | $0.0M | $0.0M | $15.4M | $50.7M | $151M | $90.2M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $568M | $445M | $424M | $176M | $129M | $109M | $520M | $653M | $708M | $941M |
| Total debt | $6.6B | $3.4B | $3.3B | $2.9B | $593M | $696M | $21.2M | $0.0M | — | — |
| Finance lease liabilities | — | — | $1.7B | $1.8B | $1.7B | — | — | — | — | — |
| Loans, net | $982M | $762M | $822M | — | — | — | — | — | — | — |
| Current assets | $1.3B | $833M | $898M | $1.1B | $690M | $5.1B | $824M | $922M | $927M | $1.2B |
| Current liabilities | $1.6B | $1.4B | $686M | $1.2B | $903M | $3.3B | $232M | $173M | $133M | $135M |
| Inventory | — | — | — | — | — | $49.0M | $60.8M | $53.2M | $46.0M | $29.4M |
| Property and equipment, net | $9.1B | $5.2B | $5.5B | $5.0B | $1.1B | $925M | $430M | $929M | $1.1B | $1.0B |
| Goodwill | $177M | $43.7M | $43.7M | $38.1M | $2.4M | $2.4M | $2.4M | $2.4M | $2.4M | $2.4M |
| Intangible assets | $89.2M | $93.0M | $77.8M | $45.9M | $2.0M | $1.5M | $1.1M | $0.7M | $0.3M | $0.0M |
| Total assets | $12.8B | $8.1B | $8.4B | $8.1B | $6.9B | $6.5B | $2.2B | $2.2B | $2.2B | $2.4B |
| Total liabilities | $8.5B | $5.2B | $5.5B | $5.5B | $4.5B | $4.1B | $795M | $396M | $218M | $197M |
| Shareholders' equity | $4.1B | $2.9B | $2.9B | $2.6B | $2.5B | $2.4B | $1.4B | $1.8B | $1.9B | $2.2B |
| Margins | ||||||||||
| Gross margin | — | 91.8% | 76.3% | 68.4% | 74.1% | 53.8% | 58.4% | 67.6% | 66.8% | 66.6% |
| Operating margin | 16.5% | 0.4% | 9.5% | −8.6% | 6.1% | −27.2% | 20.6% | 36.3% | 29.9% | 31.9% |
| EBITDA margin | 41.1% | 26.2% | 25.5% | 3.5% | 17.6% | −11.6% | 29.0% | 43.0% | 37.6% | 41.0% |
| Net margin | −5.3% | −8.7% | −4.6% | −24.4% | −7.2% | 1.1% | 6.6% | 10.3% | 11.0% | 10.3% |
| FCF margin | 1.2% | −27.1% | −29.6% | 29.2% | 84.4% | 8.3% | 16.7% | 43.0% | 32.5% | 11.7% |
| Returns | ||||||||||
| Return on capital | 2.9% | 0.1% | 2.3% | −1.6% | 1.9% | −4.8% | 28.0% | 45.3% | — | — |
| Return on capital employed | 3.4% | 0.1% | 2.1% | −1.6% | 1.2% | −5.8% | 12.7% | 26.3% | 18.1% | 13.6% |
| Return on equity | −3.0% | −4.7% | −2.8% | −11.4% | −3.3% | 0.3% | 4.1% | 9.5% | 7.2% | 4.8% |
| Return on assets | −1.0% | −1.6% | −1.0% | −3.8% | −1.1% | 0.1% | 1.8% | 6.9% | 6.2% | 4.3% |
| Return on tangible equity | −3.4% | −6.0% | −2.9% | −12.5% | −3.4% | 0.3% | 5.7% | 8.4% | 6.9% | 4.5% |
| Growth | ||||||||||
| Revenue growth | — | −19.2% | −8.1% | −26.2% | −10.1% | −40.5% | 74.4% | 23.1% | −16.7% | −22.2% |
| Net income growth | — | — | — | — | — | — | 904.4% | 92.1% | −11.2% | −26.7% |
| EPS growth | — | — | — | — | — | — | 850.0% | 102.6% | −7.8% | −20.4% |
| FCF growth | — | −1,906.5% | — | — | 160.4% | −94.1% | 251.4% | 216.2% | −37.0% | −71.9% |
| Share count change | — | 9.0% | 15.4% | 1.1% | 0.3% | 1.1% | 2.2% | −7.4% | −3.5% | −7.0% |
| Financial health | ||||||||||
| Net debt / EBITDA | 6.4x | 6.0x | 10.4x | 101.2x | 10.7x | — | −1.4x | −1.0x | — | — |
| Debt / equity | 1.6x | 1.2x | 1.2x | 1.1x | 0.2x | 0.3x | 0.0x | 0.0x | — | — |
| Interest coverage | 1.4x | 0.0x | 0.6x | −1.0x | 0.8x | −2.7x | 6.4x | 19.0x | 48.4x | 104.6x |
| Current ratio | 0.8x | 0.6x | 1.3x | 1.0x | 0.8x | 1.5x | 3.5x | 5.3x | 7.0x | 8.9x |
| Quick ratio | 0.8x | 0.6x | 1.3x | 1.0x | 0.8x | 1.5x | 3.3x | 5.0x | 6.6x | 8.7x |
| Provision / loans | 0.0% | — | — | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Capex / revenue | 27.8% | 56.1% | 40.1% | 0.9% | 1.4% | 3.1% | 0.0% | 0.0% | 5.8% | 20.0% |
| Payouts / FCF | 61.7% | — | — | 8.4% | 0.0% | 0.0% | 7.7% | 8.1% | 38.1% | 80.9% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 4.0 | 5.0 | 3.0 | 6.0 | 5.0 | 8.0 | 9.0 | 5.0 | 5.0 |
| Altman Z'' | 0.5 | 0.1 | 0.8 | 0.2 | 0.2 | 2.0 | 3.8 | 8.3 | 12.6 | 15.1 |
| Accruals ratio | −6.2% | −6.8% | −3.2% | −8.4% | −14.2% | −1.0% | −2.8% | −22.0% | −15.3% | −9.0% |
Source: SEC EDGAR XBRL filings (CIK 0000911971). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.