EFXT on NYSE
Enerflex Ltd.
General industrial machinery and equipment company, listed on NYSE (EFXT).
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
22.6%Gross margin2
11.9%Operating margin2
2.5%Net margin2
6.5%Revenue growth, 20252
5.9%Return on equity2
0.53×Debt to equity2
$326.0MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Engineered Systems brought in 57% of the revenue Enerflex Ltd. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Engineered Systems | $1.2B | $1.5B |
| Energy Infrastructure | $668.0M | $621.0M |
| Services | $508.0M | $494.0M |
Regions
NAM brought in 66% of the revenue Enerflex Ltd. broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| NAM | $1.6B | $1.7B |
| EH | $443.0M | $509.0M |
| Latam | $407.0M | $376.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue77¢$2.0B
- Selling, general and admin11¢$272.0M
- Other costs1¢$23.0M
- Interest5¢$124.0M
- Income tax4¢$99.0M
- Profit2¢$64.0M
Out of $2.6B in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Capital spending6¢$19.0M
- Dividends paid5¢$17.0M
- Kept or used elsewhere90¢$309.0M
Out of $345.0M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $2.6B | $2.4B |
| "Cost of goods sold (""COGS"")" | $2.0B | $1.9B |
| Gross margin | $582.0M | $504.0M |
| "Selling, general and administrative expenses (""SG&A"")" | $272.0M | $327.0M |
| "Foreign exchange (""FX"") loss" | $4.0M | $4.0M |
| Operating income | $306.0M | $173.0M |
| Gain on disposal of PP&E | $1.0M | $0 |
| Loss on financial instruments | -$4.0M | -$11.0M |
| Derecognition and unrealized (loss) gain on redemption options | -$17.0M | $17.0M |
| Equity earnings from associates and joint ventures | -$3.0M | $0 |
| "Earnings before finance costs and income taxes (""EBIT"")" | $283.0M | $179.0M |
| Net finance costs | $120.0M | $98.0M |
| "Earnings (loss) before income taxes (""EBT"")" | $163.0M | $81.0M |
| Current income taxes | $92.0M | $72.0M |
| Deferred income taxes | $7.0M | -$23.0M |
| Income taxes | $99.0M | $49.0M |
| Net earnings (loss) | $64.0M | $32.0M |
| Change in fair value of derivatives designated as cash-flow hedges, net of income tax recovery | -$1.0M | $0 |
| Gain on derivatives designated as cash flow hedges transferred to net earnings (loss), net of income tax expense | $0 | $1.0M |
| Unrealized gain (loss) on translation of foreign-denominated debt | $28.0M | -$51.0M |
| Unrealized gain (loss) on translation of financial statements of foreign operations | -$12.0M | $22.0M |
| Other comprehensive income (loss) | $15.0M | -$28.0M |
| Total comprehensive income (loss) | $79.0M | $4.0M |
| Earnings (loss) per share - basic | $0.52 | $0.26 |
| Earnings (loss) per share - diluted | $0.52 | $0.26 |
| Weighted average number of shares basic | 122.9M shares | 124.0M shares |
| Weighted average number of shares diluted | 123.1M shares | 124.2M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $81.0M | $92.0M | $95.0M |
| Accounts receivable | $345.0M | $398.0M | |
| Unbilled revenue | $164.0M | $157.0M | |
| Inventories | $280.0M | $258.0M | |
| "Inventories - work-in-progress (""WIP"") related to EI assets - finance leases receivable" | $35.0M | ||
| "Energy infrastructure (""EI"") assets - finance leases receivable" | $58.0M | $49.0M | |
| Income taxes receivable | $11.0M | $3.0M | |
| Derivative financial instruments | $1.0M | $0 | |
| Prepayments | $52.0M | $49.0M | |
| Total current assets | $992.0M | $1.0B | |
| Unbilled revenue | $1.0M | $2.0M | |
| "Property, plant and equipment (""PP&E"")" | $102.0M | $96.0M | |
| EI assets - operating leases | $686.0M | $713.0M | |
| EI assets - finance leases receivable | $180.0M | $189.0M | |
| Lease right-of-use assets | $61.0M | $58.0M | |
| Deferred tax assets | $21.0M | $24.0M | |
| Intangible assets | $29.0M | $37.0M | |
| Goodwill | $430.0M | $422.0M | $433.0M |
| Other assets | $192.0M | $209.0M | |
| Total assets | $2.7B | $2.8B | |
| Accounts payable and accrued liabilities | $396.0M | $413.0M | |
| Provisions | $25.0M | $22.0M | $20.0M |
| Income taxes payable | $80.0M | $79.0M | |
| Deferred revenue | $355.0M | $375.0M | |
| Lease liabilities | $22.0M | $22.0M | |
| Derivative financial instruments | $1.0M | $0 | |
| Total current liabilities | $879.0M | $911.0M | |
| Deferred revenue | $13.0M | $11.0M | |
| Long-term debt | $582.0M | $708.0M | |
| Lease liabilities | $50.0M | $47.0M | |
| Deferred tax liabilities | $51.0M | $48.0M | |
| Other liabilities | $26.0M | $17.0M | |
| Total liabilities | $1.6B | $1.7B | |
| Share capital | $498.0M | $505.0M | |
| Contributed surplus | $664.0M | $678.0M | |
| Retained earnings | $130.0M | $80.0M | |
| Accumulated other comprehensive loss | -$199.0M | -$214.0M | |
| Total shareholders' equity | $1.1B | $1.0B | |
| Total liabilities and shareholders' equity | $2.7B | $2.8B |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $81.0M | $92.0M | $95.0M |
| Accounts receivable | $345.0M | $398.0M | |
| Unbilled revenue | $164.0M | $157.0M | |
| Inventories | $280.0M | $258.0M | |
| "Inventories - work-in-progress (""WIP"") related to EI assets - finance leases receivable" | $35.0M | ||
| "Energy infrastructure (""EI"") assets - finance leases receivable" | $58.0M | $49.0M | |
| Income taxes receivable | $11.0M | $3.0M | |
| Derivative financial instruments | $1.0M | $0 | |
| Prepayments | $52.0M | $49.0M | |
| Total current assets | $992.0M | $1.0B | |
| Unbilled revenue | $1.0M | $2.0M | |
| "Property, plant and equipment (""PP&E"")" | $102.0M | $96.0M | |
| EI assets - operating leases | $686.0M | $713.0M | |
| EI assets - finance leases receivable | $180.0M | $189.0M | |
| Lease right-of-use assets | $61.0M | $58.0M | |
| Deferred tax assets | $21.0M | $24.0M | |
| Intangible assets | $29.0M | $37.0M | |
| Goodwill | $430.0M | $422.0M | $433.0M |
| Other assets | $192.0M | $209.0M | |
| Total assets | $2.7B | $2.8B | |
| Accounts payable and accrued liabilities | $396.0M | $413.0M | |
| Provisions | $25.0M | $22.0M | $20.0M |
| Income taxes payable | $80.0M | $79.0M | |
| Deferred revenue | $355.0M | $375.0M | |
| Lease liabilities | $22.0M | $22.0M | |
| Derivative financial instruments | $1.0M | $0 | |
| Total current liabilities | $879.0M | $911.0M | |
| Deferred revenue | $13.0M | $11.0M | |
| Long-term debt | $582.0M | $708.0M | |
| Lease liabilities | $50.0M | $47.0M | |
| Deferred tax liabilities | $51.0M | $48.0M | |
| Other liabilities | $26.0M | $17.0M | |
| Total liabilities | $1.6B | $1.7B | |
| Share capital | $498.0M | $505.0M | |
| Contributed surplus | $664.0M | $678.0M | |
| Retained earnings | $130.0M | $80.0M | |
| Accumulated other comprehensive loss | -$199.0M | -$214.0M | |
| Total shareholders' equity | $1.1B | $1.0B | |
| Total liabilities and shareholders' equity | $2.7B | $2.8B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net earnings | $64.0M | $32.0M |
| Depreciation and amortization | $161.0M | $185.0M |
| Equity earnings and impairment of associates and joint ventures | $3.0M | $0 |
| Deferred income taxes | $7.0M | -$23.0M |
| Share-based compensation expense | $26.0M | $29.0M |
| Loss on financial instruments | $4.0M | $11.0M |
| Derecognition and unrealized loss (gain) on redemption options | $17.0M | -$17.0M |
| (Gain) on sale of PP&E | -$1.0M | $0 |
| Impairment of EI assets | $3.0M | $1.0M |
| Debt extinguishment costs of the 2027 Notes | $42.0M | $0 |
| Adjustments to reconcile profit (loss) other than changes in working capital | $326.0M | $218.0M |
| Net change in working capital and other | $19.0M | $106.0M |
| Cash provided by operating activities | $345.0M | $324.0M |
| PP&E | -$19.0M | -$16.0M |
| EI assets - operating leases | -$96.0M | -$59.0M |
| Intangible assets | $0 | -$2.0M |
| PP&E | $1.0M | $0 |
| EI assets - operating leases | $22.0M | $3.0M |
| Net (purchases) of financial instruments | -$4.0M | $0 |
| Net change in working capital associated with investing activities | -$7.0M | $15.0M |
| Cash used in investing activities | -$103.0M | -$59.0M |
| Repayment of the Revolving Credit Facility | -$3.0M | -$41.0M |
| Repayment of the 2027 Notes | -$576.0M | -$62.0M |
| Issuance of the 2031 Notes | $400.0M | $0 |
| Repayment of the Term Loan | $0 | -$130.0M |
| Lease liability principal repayment | -$23.0M | -$20.0M |
| Dividends | -$17.0M | -$9.0M |
| Stock option exercises | $2.0M | $1.0M |
| Shares repurchased - NCIB | -$23.0M | $0 |
| Deferred transaction costs | -$10.0M | -$2.0M |
| Cash used in financing activities | -$250.0M | -$263.0M |
| Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies | -$3.0M | -$5.0M |
| Decrease in cash and cash equivalents | -$11.0M | -$3.0M |
No quarter-by-quarter statement was filed.
Filings
147 filings to the SEC since October 2021: 4 annual reports, 20 large holders, 123 other. The latest 20:
- Oct 13, 20266-K EDGAR
- Oct 13, 20266-K EDGAR
- Oct 7, 20266-K EDGAR
- Oct 1, 20266-K EDGAR
- Sep 30, 20266-K EDGAR
- Aug 6, 20266-K EDGAR
- Jul 13, 20266-K EDGAR
- Jul 6, 20266-K EDGAR
- Jun 25, 20266-K EDGAR
- May 27, 20266-K EDGAR
- May 7, 2026SCHEDULE 13G/A EDGAR
- May 7, 2026SD EDGAR
- May 7, 20266-K EDGAR
- May 5, 2026SCHEDULE 13G/A EDGAR
- Apr 22, 20266-K EDGAR
- Apr 2, 20266-K EDGAR
- Mar 13, 2026S-8 EDGAR
- Mar 4, 20266-K EDGAR
- Feb 26, 202640-F EDGAR
- Feb 26, 20266-K EDGAR
The 147 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 20 such filings since October 2021, the latest 10:
- May 7, 2026SCHEDULE 13G/A
- May 5, 2026SCHEDULE 13G/A
- Feb 13, 2026SCHEDULE 13G/A
- Feb 10, 2026SCHEDULE 13G/A
- Oct 16, 2025SCHEDULE 13G/A
- Jul 31, 2025SCHEDULE 13G/A
- Jul 31, 2025SCHEDULE 13G/A
- May 8, 2025SCHEDULE 13G
- Apr 9, 2025SCHEDULE 13G/A
- Jan 16, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Connor, Clark & Lunn Investment Management Ltd. | 13,471,786 | $330.5M | 0.6% | +2,278,761 |
| Royal Bank Of Canada | 8,531,161 | $209.1M | 0.0% | +641,490 |
| Mackenzie Financial Corp | 3,817,389 | $133.0M | 0.1% | −1,470,845 |
| Canoe Financial LP | 4,701,871 | $115.4M | 1.4% | +72,312 |
| Hillsdale Investment Management Inc. | 3,615,379 | $88.7M | 2.0% | −216,280 |
| Bank Of Montreal /can/ | 3,561,621 | $87.4M | 0.0% | +425,723 |
| Vanguard Capital Management LLC | 3,517,814 | $86.4M | 0.0% | +32,608 |
| Morgan Stanley | 2,879,791 | $70.6M | 0.0% | −541,890 |
| TD Asset Management Inc | 2,761,267 | $67.8M | 0.1% | −38,241 |
| American Century Companies Inc | 2,264,560 | $55.6M | 0.0% | +490,132 |
| Letko, Brosseau & Associates Inc | 1,997,788 | $49.0M | 0.7% | −582,425 |
| 1832 Asset Management L.P. | 1,546,490 | $37.9M | 0.0% | −471,800 |
| Intact Investment Management Inc. | 1,530,780 | $37.6M | 1.1% | +1,291,980 |
| Goldman Sachs Group Inc | 1,477,503 | $36.2M | 0.0% | +306,685 |
| Dimensional Fund Advisors LP | 1,411,278 | $34.6M | 0.0% | +203,267 |
| Two Sigma Investments, LP | 1,383,928 | $33.9M | 0.0% | +36,278 |
| Bank Of America Corp /de/ | 1,247,201 | $30.6M | 0.0% | −46,271 |
| Vanguard Fiduciary Trust Co | 1,068,078 | $26.2M | 0.0% | +3,931 |
| UBS Group AG | 899,416 | $22.0M | 0.0% | −200,293 |
| Toronto Dominion Bank | 832,232 | $20.4M | 0.0% | +196,521 |
| Cibc World Market Inc. | 645,992 | $15.9M | 0.0% | −107,062 |
| NewGen Asset Management Ltd | 636,744 | $15.6M | 8.6% | −100,000 |
| Millennium Management LLC | 608,844 | $14.9M | 0.0% | +442,957 |
| PCJ Investment Counsel Ltd. | 604,197 | $14.8M | 4.3% | −57,055 |
| National Bank Of Canada /fi/ | 615,177 | $14.7M | 0.0% | −204,573 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGAREnerflex Ltd. filings on SEC EDGAR
- 2SEC EDGAREnerflex Ltd. 10-K for fiscal 2025
- 3SEC EDGAREnerflex Ltd. filings on SEC EDGAR
- 4SEC EDGAREnerflex Ltd. 10-K for fiscal 2023