TFII Industrials

TFI International Inc.

$96.26+0.38%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Trucking
Country: Canada
Market cap: 7.9B USD
Enterprise value: 12.0B USD
Full-time employees: 26,427

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.47 vs a peer median of 0.64), less short-term liquidity (current ratio 1.03 vs a peer median of 1.62) and more debt relative to equity (0.96× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.47 vs peers 0.64), less liquidity (current ratio 1.03 vs peers 1.62) and more debt vs equity (0.96× vs peers 0.40×)
About average: profitability

Ranks #1,755 of 2,308 industrials companies (bottom 25%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year low. 7.2% in 2025, the weakest of the last 6 years.
TFI International's operating margin fell to 7.2% in 2025, its lowest in the 6 years of filings we have.
Borrowing rising faster than profit. Since 2022: debt +96%, operating profit −51%.
TFI International's debt grew 96% since 2022 while operating profit changed −51%.
Sales growing faster than profits. Since 2022: revenue −11%, operating profit −51%.
Since 2022, TFI International's revenue changed −11% while operating profit fell 51%: costs rose faster than sales.
Cash flow well above reported profit. Free cash flow is 2.3× reported profit.
Free cash flow is 2.3× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

StockQuotient Score

37/ 100▲ 2 since Oct 27 close

Oct 5 35 → Nov 4 37 (+2)

Valuation

Is the price right?

68/100

Moderate▲ 7 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 61 → 68

Share price -16.0%+8
Company's reported figures updated-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ FCF yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value30% base weight · Z-score 0.02Sector median: 0.0377 · MAD: 0.0294

EBITDA yield11.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value50% base weight · Z-score 0.99Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield8.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · operating cash flow − capital spendingReported value20% base weight · Z-score 1.34Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield33.0%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

18/100

Weak

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

12-month revenue fell 6.1%

Why

Weaker than most peers on:

▼ EPS growth
▼ 3-yr revenue
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-26.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -1.35Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth-3.6%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score -1.25Sector median: 0.0421 · MAD: 0.0625

Revenue growth-6.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -1.37Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

51/100

Moderate

3/3 inputs reported · High confidence

Since last year: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin7.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.11Sector median: 0.0773 · MAD: 0.0507

Return on assets4.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.43Sector median: 0.0311 · MAD: 0.0241

Return on invested capital8.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.31Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin19.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity11.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.47

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.02Sector median: 0.6440 · MAD: 0.2745

Current ratio1.03×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -1.09Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.96×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -1.66Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about TFI International

Is TFI International getting weaker?: Its latest SEC filing (Feb 17, 2026) got weaker in some ways: 12-month revenue fell 6.1%. Its overall score is 37/100, up 2 since Oct 28, 2026.
How is TFI International valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 2,459 industrials peers. Free cash flow yield 8.7% vs a peer median of 3.7% (stronger than 78% of peers).Free cash flow yield 8.7% vs peers 3.7% (stronger than 78% of peers).
Is TFI International growing?: More slowly than most of its peers. Growth scores 18/100 against 2,459 industrials peers. Earnings per share growth -26.5% vs a peer median of 7.1% (weaker than 80% of peers).Earnings per share growth -26.5% vs peers 7.1% (weaker than 80% of peers).
How profitable is TFI International?: About as profitable as its peers. Profitability scores 51/100 against 2,459 industrials peers.
How risky is TFI International?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.47 vs a peer median of 0.64 (weaker than 93% of peers).Beta 1.47 vs peers 0.64 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Feb 17, 2026 · compared with the year ended Dec 31, 2024

Got weaker

12-month revenue fell 6.1%

	Previous year	Latest year	Change
Revenue (12 months)	8.4B USD	7.9B USD	−6.1%
Net income (12 months)	422.5M USD	310.6M USD	−26.5%
Operating margin	8.6%	7.2%	−1.4 pts
Free cash flow (12 months)	669.8M USD	704.6M USD	+5.2%
Debt	2.4B USD	2.6B USD	+7.3%
Cash	0 USD	210.2M USD	turned positive

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	13.6%	13.0%	10.1%	8.6%	7.2%	▼ 1.4 pts
Net margin	10.4%	9.3%	6.7%	5.0%	3.9%	▼ 1.1 pts
Return on assets (ROA)	12.8%	15.0%	8.0%	5.9%	4.1%	▼ 1.8 pts
Return on equity (ROE)	34.0%	33.4%	19.5%	15.8%	11.6%	▼ 4.2 pts
Free cash flow margin	8.1%	7.0%	8.7%	8.0%	8.9%	▲ 1.0 pts
Current ratio	0.83×	1.31×	1.25×	1.02×	1.03×	▲ 1.5%
Quick ratio	0.81×	1.28×	1.23×	1.00×	1.02×	▲ 1.6%
Debt to equity	0.72×	0.53×	0.73×	0.90×	0.96×	▲ 7.1%
Interest coverage	12.53×	13.95×	8.47×	4.18×	3.48×	▼ 17%

TFII price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.47 vs a peer median of 0.64), less short-term liquidity (current ratio 1.03 vs a peer median of 1.62) and more debt relative to equity (0.96× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.47 vs peers 0.64), less liquidity (current ratio 1.03 vs peers 1.62) and more debt vs equity (0.96× vs peers 0.40×)

About average: profitability

Ranks #1,755 of 2,308 industrials companies (bottom 25%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year low. 7.2% in 2025, the weakest of the last 6 years.

TFI International's operating margin fell to 7.2% in 2025, its lowest in the 6 years of filings we have.

Borrowing rising faster than profit. Since 2022: debt +96%, operating profit −51%.

TFI International's debt grew 96% since 2022 while operating profit changed −51%.

Sales growing faster than profits. Since 2022: revenue −11%, operating profit −51%.

Since 2022, TFI International's revenue changed −11% while operating profit fell 51%: costs rose faster than sales.

Cash flow well above reported profit. Free cash flow is 2.3× reported profit.

Free cash flow is 2.3× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Questions investors ask about TFI International

Is TFI International getting weaker?

Its latest SEC filing (Feb 17, 2026) got weaker in some ways: 12-month revenue fell 6.1%. Its overall score is 37/100, up 2 since Oct 28, 2026.

How is TFI International valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 2,459 industrials peers. Free cash flow yield 8.7% vs a peer median of 3.7% (stronger than 78% of peers).Free cash flow yield 8.7% vs peers 3.7% (stronger than 78% of peers).

Is TFI International growing?

More slowly than most of its peers. Growth scores 18/100 against 2,459 industrials peers. Earnings per share growth -26.5% vs a peer median of 7.1% (weaker than 80% of peers).Earnings per share growth -26.5% vs peers 7.1% (weaker than 80% of peers).

How profitable is TFI International?

About as profitable as its peers. Profitability scores 51/100 against 2,459 industrials peers.

How risky is TFI International?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.47 vs a peer median of 0.64 (weaker than 93% of peers).Beta 1.47 vs peers 0.64 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

8.4B USD

7.9B USD

−6.1%

Net income (12 months)

422.5M USD

310.6M USD

−26.5%

Operating margin

8.6%

7.2%

−1.4 pts

Free cash flow (12 months)

669.8M USD

704.6M USD

+5.2%

Debt

2.4B USD

2.6B USD

+7.3%

Cash

0 USD

210.2M USD

turned positive

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

13.6%

13.0%

10.1%

8.6%

7.2%

▼ 1.4 pts

Net margin

10.4%

9.3%

6.7%

5.0%

3.9%

▼ 1.1 pts

Return on assets (ROA)

12.8%

15.0%

8.0%

5.9%

4.1%

▼ 1.8 pts

Return on equity (ROE)

34.0%

33.4%

19.5%

15.8%

11.6%

▼ 4.2 pts

Free cash flow margin

8.1%

7.0%

8.7%

8.0%

8.9%

▲ 1.0 pts

Current ratio

0.83×

1.31×

1.25×

1.02×

1.03×

▲ 1.5%

Quick ratio

0.81×

1.28×

1.23×

1.00×

1.02×

▲ 1.6%

Debt to equity

0.72×

0.53×

0.73×

0.90×

0.96×

▲ 7.1%

Interest coverage

12.53×

13.95×

8.47×

4.18×

3.48×

▼ 17%