North American Construction Group Ltd. cash flow statement

In fiscal 2025, North American Construction Group Ltd.'s operations generated $189m of cash; it spent $201m on capital projects, leaving free cash flow of −$12.2m. It returned $9.6m in dividends and $27.5m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

North American Construction Group Ltd.: cash flow statement, annual
Fiscal year	2010Mar 2010	2011Mar 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	39	−0	87	56	38	60	30	38	84	119	109	132	130	206	176	189
Depreciation and amortisation	39	35	45	35	39	31	31	34	45	—	—	—	92	97	135	156
Stock-based pay	5	8	1	6	3	1	5	3	9	7	1	9	4	12	6	−0
Capital spending	48	32	54	30	32	25	20	41	63	118	87	90	86	150	222	201
Free cash flow	−9	−33	33	25	6	35	10	−3	22	1	22	42	44	56	−46	−12
Free cash flow after stock pay	−13	−41	33	19	3	34	5	−6	13	−6	21	33	41	44	−52	−12
Dividends paid	—	—	—	0	2	3	1	2	2	2	3	4	6	7	8	10
Share buybacks	—	—	0	11	2	5	7	12	7	0	7	13	26	0	3	28

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

Compare with peers

Head to head: NOA vs TISI FET vs NOA AESI vs NOA

More: Oil & Gas Equipment & Services stocks compared, Energy sector, rankings of US companies

Figures from North American Construction Group Ltd.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to North American Construction Group Ltd.