NYSE : TTAM
Titan America SA — Financial statements
Materials · Building Materials · Belgium
Last price 14.03 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.59B
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Financial statements
Titan America SA (TTAM) reported revenue of 1.71B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.71B | 1.66B | 1.63B | 1.59B | 1.36B | 1.15B |
| Cost of Revenue | 1.26B | 1.21B | 1.20B | 1.21B | 1.13B | 942.80M |
| Gross Profit | 453.98M | 453.05M | 433.55M | 379.42M | 234.79M | 209.62M |
| Selling, General & Admin | 173.03M | 164.48M | 162.59M | 130.98M | 117.49M | 101.08M |
| Other Operating Expenses | 21.85M | 20.51M | 19.61M | 22.87M | 20.30M | 14.43M |
| Operating Expenses | 194.88M | 184.99M | 182.20M | 153.85M | 137.79M | 115.51M |
| Operating Income | 259.11M | 268.06M | 251.35M | 225.57M | 97.00M | 94.11M |
| Interest Expense | 11.03M | -38.81M | -13.22M | -17.89M | -21.01M | |
| Interest & Investment Income | 20.71M | 5.77M | 1.47M | 950.00K | 436.00K | 471.00K |
| Earnings From Equity Investments | 272.00K | -682.00K | ||||
| Currency Exchange Gain (Loss) | 19.53M | -39.71M | 12.17M | -10.10M | 7.73M | 28.84M |
| Other Non Operating Income (Expenses) | -62.72M | -2.87M | -2.56M | -823.00K | -7.86M | -27.16M |
| EBT Excluding Unusual Items | 236.64M | 242.29M | 223.62M | 202.38M | 79.69M | 74.56M |
| Gain (Loss) on Sale of Investments | 2.55M | 2.55M | ||||
| Pretax Income | 239.19M | 244.84M | 223.62M | 202.38M | 79.69M | 74.56M |
| Income Tax Expense | 61.97M | 59.40M | 57.54M | 47.13M | 16.97M | 15.34M |
| Net Income | 177.22M | 185.44M | 166.07M | 155.24M | 62.72M | 59.22M |
| Net Income to Common | 177.22M | 185.44M | 166.07M | 155.24M | 62.72M | 59.22M |
| Shares Outstanding (Basic) | 184.37M | 183.35M | 175.36M | 175.36M | 175.36M | 175.34M |
| Shares Outstanding (Diluted) | 184.60M | 183.46M | 175.36M | 175.36M | 175.36M | 175.34M |
| EPS (Basic) | 0.96 | 1.01 | 0.95 | 0.89 | 0.36 | 0.34 |
| EPS (Diluted) | 0.96 | 1.01 | 0.95 | 0.89 | 0.36 | 0.34 |
| Free Cash Flow | 158.16M | 134.87M | 112.62M | 109.98M | 53.00M | 84.43M |
| Free Cash Flow Per Share | 0.86 | 0.73 | 0.64 | 0.63 | 0.30 | 0.48 |
| Gross Margin | 26.52% | 27.22% | 26.53% | 23.84% | 17.21% | 18.19% |
| Operating Margin | 15.14% | 16.11% | 15.38% | 14.17% | 7.11% | 8.17% |
| Profit Margin | 10.35% | 11.14% | 10.16% | 9.75% | 4.60% | 5.14% |
| Free Cash Flow Margin | 9.24% | 8.10% | 6.89% | 6.91% | 3.89% | 7.33% |
| EBITDA | 357.28M | 358.06M | 335.11M | 305.41M | 174.10M | 166.44M |
| EBITDA Margin | 20.88% | 21.52% | 20.50% | 19.19% | 12.76% | 14.44% |
| D&A For EBITDA | 98.17M | 90.00M | 83.76M | 79.84M | 77.10M | 72.33M |
| EBIT | 259.11M | 268.06M | 251.35M | 225.57M | 97.00M | 94.11M |
| EBIT Margin | 15.14% | 16.11% | 15.38% | 14.17% | 7.11% | 8.17% |
| Effective Tax Rate | 25.91% | 24.26% | 25.73% | 23.29% | 21.30% | 20.57% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 36.38M | 211.75M | 12.12M | 22.04M | 29.84M | |
| Short-Term Investments | 29.35M | 514.00K | 2.68M | |||
| Cash & Short-Term Investments | 65.73M | 211.75M | 12.12M | 22.55M | 32.52M | |
| Accounts Receivable | 79.83M | 54.31M | 48.12M | 55.87M | 56.45M | |
| Other Receivables | 135.51M | 99.42M | 80.74M | 71.51M | 58.55M | |
| Receivables | 215.34M | 153.72M | 128.86M | 127.38M | 114.99M | |
| Inventory | 231.93M | 226.41M | 227.64M | 189.99M | 180.80M | |
| Prepaid Expenses | 16.97M | 18.05M | 14.31M | 14.54M | 13.51M | |
| Other Current Assets | 637.00K | 17.00K | 1.33M | 18.44M | 15.06M | |
| Total Current Assets | 530.60M | 609.96M | 384.26M | 372.90M | 356.89M | |
| Property, Plant & Equipment | 1.31B | 996.17M | 916.42M | 862.47M | 809.94M | |
| Goodwill | 260.85M | 221.56M | 221.56M | 221.56M | 221.56M | |
| Other Intangible Assets | 31.58M | 29.02M | 30.17M | 33.21M | 36.02M | |
| Other Long-Term Assets | 36.49M | 37.17M | 13.85M | 8.66M | 22.82M | |
| Total Assets | 2.16B | 1.89B | 1.57B | 1.50B | 1.45B | |
| Accounts Payable | 192.74M | 132.87M | 143.00M | 157.51M | 175.37M | |
| Accrued Expenses | 26.72M | 31.12M | 29.10M | 24.42M | 31.51M | |
| Short-Term Debt | 4.72M | 1.47M | 25.14M | 2.00K | 70.59M | |
| Current Portion of Long-Term Debt | 3.92M | 8.46M | 267.67M | 3.75M | ||
| Current Portion of Leases | 11.41M | 11.17M | 12.39M | 11.74M | 13.53M | |
| Current Income Taxes Payable | 20.00K | 2.19M | 1.87M | 2.00M | 3.49M | |
| Current Unearned Revenue | 6.76M | 6.34M | 1.09M | 928.00K | ||
| Other Current Liabilities | 19.08M | 11.73M | 12.74M | 27.55M | 26.29M | |
| Total Current Liabilities | 254.69M | 201.22M | 239.05M | 491.97M | 325.46M | |
| Long-Term Debt | 502.04M | 390.44M | 358.22M | 76.26M | 320.17M | |
| Long-Term Leases | 55.91M | 55.42M | 55.97M | 53.74M | 54.05M | |
| Long-Term Unearned Revenue | 868.00K | 1.42M | ||||
| Pension & Post-Retirement Benefits | 7.10M | 5.12M | 4.31M | 4.35M | ||
| Long-Term Deferred Tax Liabilities | 142.10M | 115.56M | 98.21M | 94.38M | 92.94M | |
| Other Long-Term Liabilities | 121.60M | 90.07M | 59.67M | 57.50M | 56.11M | |
| Total Liabilities | 1.08B | 859.81M | 816.24M | 779.03M | 854.50M | |
| Common Stock | 1.09B | 1.84B | 1.75B | 25.22M | 25.22M | |
| Additional Paid-In Capital | 865.92M | 852.28M | 168.79M | 165.98M | ||
| Retained Earnings | 777.75M | 597.30M | 518.62M | 398.69M | ||
| Comprehensive Income & Other | -2.45B | -2.45B | 7.14M | 2.84M | ||
| Shareholders' Equity | 1.09B | 1.03B | 750.01M | 719.77M | 592.73M | |
| Total Liabilities & Equity | 2.16B | 1.89B | 1.57B | 1.50B | 1.45B | |
| Total Debt | 574.08M | 462.41M | 460.18M | 409.41M | 462.09M | |
| Net Cash (Debt) | -508.35M | -250.66M | -448.06M | -386.86M | -429.57M | |
| Net Cash Per Share | -2.75 | -1.37 | -2.56 | -2.21 | -2.45 | |
| Filing Date Shares Outstanding | 184.37M | 184.36M | 184.36M | 175.34M | 175.36M | 175.34M |
| Total Common Shares Outstanding | 184.37M | 184.36M | 184.36M | 175.34M | 175.36M | 175.34M |
| Working Capital | 275.91M | 408.73M | 145.21M | -119.08M | 31.44M | |
| Book Value Per Share | 5.90 | 5.61 | 4.07 | 4.10 | 3.38 | |
| Tangible Book Value | 796.12M | 783.48M | 498.29M | 465.00M | 335.15M | |
| Tangible Book Value Per Share | 4.32 | 4.25 | 2.70 | 2.65 | 1.91 | |
| Land | 228.77M | 223.35M | 214.94M | 206.49M | ||
| Buildings | 196.35M | 185.79M | 150.22M | 123.26M | ||
| Machinery | 1.42B | 1.36B | 1.29B | 1.24B | ||
| Construction In Progress | 92.67M | 49.22M | 90.67M | 79.46M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 177.22M | 185.44M | 166.07M | 155.24M | 62.72M | 59.22M |
| Depreciation & Amortization | 112.00M | 103.83M | 95.40M | 91.08M | 87.73M | 81.73M |
| Other Amortization | 4.89M | 4.89M | 4.54M | |||
| Loss (Gain) From Sale of Investments | -39.00M | -39.00M | 13.77M | -7.68M | ||
| Other Operating Activities | 78.22M | 67.32M | 11.77M | 30.81M | 33.56M | 38.73M |
| Change in Accounts Receivable | -5.69M | -5.69M | 7.14M | -604.00K | -7.58M | -13.88M |
| Change in Inventory | -1.07M | -1.07M | -37.65M | -9.19M | -40.64M | -17.85M |
| Change in Accounts Payable | -15.87M | -15.87M | -16.08M | -29.53M | 57.27M | 16.16M |
| Change in Other Net Operating Assets | 10.67M | -4.42M | 3.08M | -3.00M | -14.69M | -17.41M |
| Operating Cash Flow | 323.92M | 295.41M | 248.04M | 227.12M | 178.37M | 146.70M |
| Capital Expenditures | -165.76M | -160.54M | -135.42M | -117.14M | -125.37M | -62.27M |
| Sale of Property, Plant & Equipment | 1.10M | 1.07M | 141.00K | 261.00K | 685.00K | |
| Sale (Purchase) of Intangibles | -3.54M | -3.84M | -1.59M | -1.60M | -2.90M | -9.19M |
| Investment in Securities | -29.27M | 5.37M | 272.00K | |||
| Other Investing Activities | 7.04M | 5.77M | 1.21M | 950.00K | 436.00K | 471.00K |
| Investing Cash Flow | -466.41M | -152.18M | -135.80M | -117.65M | -127.30M | -70.30M |
| Short-Term Debt Issued | 85.22M | 45.54M | 95.24M | 133.00K | ||
| Long-Term Debt Issued | 60.00M | 35.00M | 115.00M | 44.76M | ||
| Total Debt Issued | 123.79M | 145.22M | 80.54M | 210.24M | 44.89M | |
| Short-Term Debt Repaid | -21.08M | -39.70M | -37.84M | -96.71M | -92.02M | |
| Long-Term Debt Repaid | -35.07M | -44.49M | -117.15M | -94.15M | -21.51M | |
| Lease Payments | -10.48M | -10.07M | -9.49M | -12.15M | -11.39M | -14.51M |
| Total Debt Repaid | -16.56M | -56.16M | -84.19M | -154.99M | -190.86M | -113.53M |
| Net Debt Issued (Repaid) | 107.24M | -56.16M | 61.03M | -74.45M | 19.38M | -68.64M |
| Issuance of Common Stock | 144.00M | 200.00K | ||||
| Repurchase of Common Stock | -51.59M | -82.37M | ||||
| Common Dividends Paid | -29.50M | -29.50M | -85.07M | -33.79M | ||
| Other Financing Activities | -41.00M | -1.96M | -47.90M | -9.54M | -41.04M | -46.13M |
| Financing Cash Flow | 36.73M | 56.39M | -123.33M | -117.78M | -21.66M | -197.14M |
| Foreign Exchange Rate Adjustments | -183.00K | 1.18M | 502.00K | 227.00K | -527.00K | |
| Net Cash Flow | -105.94M | 199.63M | -9.91M | -7.80M | 29.64M | -121.26M |
| Free Cash Flow | 158.16M | 134.87M | 112.62M | 109.98M | 53.00M | 84.43M |
| Free Cash Flow Margin | 9.24% | 8.10% | 6.89% | 6.91% | 3.89% | 7.33% |
| Free Cash Flow Per Share | 0.86 | 0.73 | 0.64 | 0.63 | 0.30 | 0.48 |
| Levered Free Cash Flow | 106.92M | 88.11M | 58.31M | 57.23M | ||
| Unlevered Free Cash Flow | 106.92M | 81.21M | 82.57M | 65.49M | ||
| Free Cash Flow After Leases | 147.68M | 124.80M | 103.13M | 97.83M | 41.61M | 69.92M |
| Cash Interest Paid | 24.40M | 23.55M | 25.38M | 23.78M | 20.93M | 20.87M |
| Cash Income Tax Paid | 40.11M | 55.49M | 67.94M | 53.12M | 5.31M | -2.01M |
| Change in Working Capital | -11.97M | -27.06M | -43.52M | -42.33M | -5.64M | -32.98M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.60B | 3.19B | ||||
| Enterprise Value | 3.10B | 3.46B | ||||
| Last Close Price | 14.08 | 16.35 | ||||
| PE Ratio | 14.68 | 17.18 | ||||
| Forward PE | 12.57 | 14.35 | ||||
| PS Ratio | 1.52 | 1.92 | ||||
| PB Ratio | 2.38 | 3.08 | ||||
| P/TBV Ratio | 3.26 | 4.07 | ||||
| P/FCF Ratio | 16.41 | 23.63 | ||||
| P/OCF Ratio | 8.01 | 10.79 | ||||
| PEG Ratio | 1.42 | 1.10 | ||||
| EV/Sales Ratio | 1.81 | 2.08 | ||||
| EV/EBITDA Ratio | 8.69 | 9.65 | ||||
| EV/EBIT Ratio | 11.98 | 12.89 | ||||
| EV/FCF Ratio | 19.63 | 25.62 | ||||
| Debt / Equity Ratio | 0.53 | 0.45 | 0.61 | 0.57 | 0.78 | |
| Debt / EBITDA Ratio | 1.55 | 1.24 | 1.33 | 1.29 | 2.50 | |
| Debt / FCF Ratio | 3.63 | 3.43 | 4.09 | 3.72 | 8.72 | |
| Net Debt / Equity Ratio | 0.47 | 0.24 | 0.60 | 0.54 | 0.72 | |
| Net Debt / EBITDA Ratio | 1.42 | 0.70 | 1.34 | 1.27 | 2.47 | |
| Net Debt / FCF Ratio | 3.21 | 1.86 | 3.98 | 3.52 | 8.11 | |
| Asset Turnover | 0.86 | 0.96 | 1.07 | 1.08 | ||
| Inventory Turnover | 5.57 | 5.33 | 5.75 | 6.54 | ||
| Quick Ratio | 1.10 | 1.82 | 0.59 | 0.30 | 0.45 | |
| Current Ratio | 2.08 | 3.03 | 1.61 | 0.76 | 1.10 | |
| Return on Equity (ROE) | 17.44% | 20.79% | 22.60% | 23.66% | ||
| Return on Assets (ROA) | 8.19% | 9.68% | 10.25% | 9.57% | ||
| Return on Invested Capital (ROIC) | 13.31% | 16.36% | 16.20% | 16.26% | 7.47% | |
| Return on Capital Employed (ROCE) | 13.60% | 15.80% | 18.90% | 22.40% | 8.60% | |
| Earnings Yield | 6.81% | 5.82% | ||||
| FCF Yield | 6.09% | 4.23% | ||||
| Payout Ratio | 16.68% | 15.91% | 51.22% | 21.76% | ||
| Buyback Yield / Dilution | -3.22% | -4.62% | -0.01% |