TFI International Inc. cash flow statement

In fiscal 2025, TFI International Inc.'s operations generated $978m of cash; it spent $273m on capital projects, leaving free cash flow of $705m. It returned $151m in dividends and $226m through buybacks.

Cash flow statement

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

TFI International Inc.: cash flow statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	488	611	855	972	1,014	1,063	978
Depreciation and amortisation	296	299	393	431	442	582	611
Stock-based pay	6	7	15	15	13	11	15
Capital spending	261	143	269	351	362	393	273
Free cash flow	227	468	587	621	652	670	705
Free cash flow after stock pay	221	461	571	606	639	659	689
Dividends paid	60	68	85	97	121	134	151
Share buybacks	192	38	198	568	288	77	226

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.

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Figures from TFI International Inc.'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 TFI International Inc.