Revenue by Segment
Highlights income from different business units, revealing which segments are driving growth and profitability.
Freight revenue has more than doubled since 2020 and shows a clear step‑change from mid‑2023—consistent with the CP–KCS combination driving network scale, pricing power and cross‑border volume gains; non‑freight remains immaterial. The June 2026 uptick signals renewed volume/pricing momentum or realized synergies, but the business is still highly concentrated in freight, leaving results vulnerable to industrial/commodity cycles. Investment upside depends on sustaining post‑merger volume growth and converting it into durable margin improvement rather than one‑off rate effects.
CP Revenue by Segment
| Date | Freight | Non-Freight |
|---|---|---|
| Sep 30, 2026 | C$4.14B | C$80.00M |
| Jun 30, 2026 | C$4.09B | C$76.00M |
| Mar 31, 2026 | C$3.63B | C$73.00M |
| Dec 31, 2025 | C$3.83B | C$92.00M |
| Sep 30, 2025 | C$3.59B | C$72.00M |
| Jun 30, 2025 | C$3.63B | C$70.00M |
| Mar 31, 2025 | C$3.73B | C$68.00M |
| Dec 31, 2024 | C$3.80B | C$73.00M |
| Sep 30, 2024 | C$3.46B | C$88.00M |
| Jun 30, 2024 | C$3.53B | C$69.00M |
| Mar 31, 2024 | C$3.43B | C$93.00M |
| Dec 31, 2023 | C$3.70B | C$79.00M |
| Sep 30, 2023 | C$3.27B | C$73.00M |
| Jun 30, 2023 | C$3.10B | C$73.00M |
| Mar 31, 2023 | C$2.22B | C$49.00M |
| Dec 31, 2022 | C$2.41B | C$49.00M |
| Sep 30, 2022 | C$2.26B | C$48.00M |
| Jun 30, 2022 | C$2.15B | C$48.00M |
| Mar 31, 2022 | C$1.80B | C$42.00M |
| Dec 31, 2021 | C$1.99B | C$46.00M |
| Sep 30, 2021 | C$1.90B | C$46.00M |
| Jun 30, 2021 | C$2.01B | C$46.00M |
| Mar 31, 2021 | C$1.92B | C$41.00M |
| Dec 31, 2020 | C$1.97B | C$44.00M |
| Sep 30, 2020 | C$1.82B | C$42.00M |
| Jun 30, 2020 | C$1.75B | C$40.00M |
| Mar 31, 2020 | C$2.00B | C$43.00M |
