EMA
Emera Incorporated
EMA's fundamentals are mixed: revenue grew 4.2%, but free cash flow was negative. Its PE isn't a useful guide right now because of how its recent earnings were reported.
EMA Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| Under pressure | |
| Weak |
EMA's profitability is currently healthy, but its revenue, cash flow and balance sheet are under pressure.
EMA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $33.17 | -35% |
| Fair | 20x | $45.14 | -11% |
| Current | 23x | $50.78 | — |
| Expensive | 24x | $54.35 | +7% |
Historical ranges are pointers, not guarantees.
EMA's PE is 23x, but its earnings don't support one, so it isn't a reliable read right now.
EMA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for EMA, but weaker profitability. However, they disagree widely on these estimates.
EMA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $2.23 | +7.7% |
| Q1 2026 | $2.31 | +12% |
| Q4 2025 | $2.38 | +98% |
| Q3 2025 | $2.59 | +65% |
| Q2 2025 | $2.07 | +14% |
| Q1 2025 | $2.07 | +28% |
| Q4 2024 | $1.20 | -53% |
| Q3 2024 | $1.57 | -49% |
EMA's earnings per share have fallen from their peak: $2.23 over the past year, against $3.32 in mid-2023.
EMA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.4B | -0.6% |
| Q1 2026 | $1.7B | -7.4% |
| Q4 2025 | $1.4B | +14% |
| Q3 2025 | $1.5B | +17% |
| Q2 2025 | $1.4B | +23% |
| Q1 2025 | $1.9B | +33% |
| Q4 2024 | $1.2B | -11% |
| Q3 2024 | $1.3B | +3.6% |
EMA's revenue is growing: $1.4B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 17% | +1.9 points |
| Q1 2026 | 25% | -9.3 points |
| Q4 2025 | 11% | -3 points |
| Q3 2025 | 23% | +11 points |
| Q2 2025 | 15% | +3.2 points |
| Q1 2025 | 35% | +13 points |
| Q4 2024 | 14% | -12 points |
| Q3 2024 | 12% | -3.6 points |
EMA's operating margin was 17% last quarter, up 1.9 points from the same quarter a year ago.
EMA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$147.7M | +$482.2M |
| Q1 2026 | -$72.8M | -$55.2M |
| Q4 2025 | -$529.7M | -$365.1M |
| Q3 2025 | -$38.7M | +$43.6M |
| Q2 2025 | -$629.9M | -$544.2M |
| Q1 2025 | -$17.6M | +$4.9M |
| Q4 2024 | -$164.5M | +$152.6M |
| Q3 2024 | -$82.3M | -175% |
EMA has burned cash in almost every quarter: −$789M over the past year, against −$894M the year before.
EMA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.1% | +3.2M shares |
| 1 year | +2.8% | +8.3M shares |
| 3 years | +13% | +34.8M shares |
| 5 years | +20% | +51.6M shares |
| Available history | +27% | +65M shares |
EMA has 307M diluted shares, up 2.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
EMA hasn't bought back shares in the past year.
EMA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 6.9x | High |
| Q1 2026 | 4.9x | High |
| Q4 2025 | 6.6x | High |
| Q3 2025 | 6.5x | High |
| Q2 2025 | 6.0x | High |
| Q1 2025 | 6.4x | High |
| Q4 2024 | 7.6x | High |
| Q3 2024 | 6.5x | High |
EMA's net debt is about 6.9 years of its operating earnings (EBITDA), up from 6.0 years a year ago.
EMA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.1 | Neutral |
| Stochastic | 61.1 | Neutral |
EMA's weekly RSI is 52 (neutral) and its Stochastic is 61 (neutral).
EMA PE vs Utilities Sector
| Metric | EMA | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 20x | 12% above |
| PE % | 75 | 44 | 31 pts above |
EMA is trading at 23x earnings, a 12% premium to the Utilities sector's median of 20x, though its earnings don't support one.
EMA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $48.6 | 4.5% above |
| 20 week MA | $50.5 | 0.5% above |
| 50 week MA | $50.9 | 0.3% below |
| 100 week MA | $47.5 | 6.9% above |
| 200 week MA | $42.6 | 19% above |
EMA's trend is mixed: it's above four of its five weekly moving averages, and 19% above its 200-week average.
EMA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $42.3 | $42.0 | -0.6% |
| 2021 | $42.0 | $48.7 | +16% |
| 2022 | $48.7 | $38.3 | -21% |
| 2023 | $38.3 | $37.8 | -1.3% |
| 2024 | $37.8 | $37.4 | -1% |
| 2025 | $37.4 | $49.1 | +31% |
| 2026 YTD | $49.1 | $50.8 | +3.3% |
EMA has finished lower in four of the last six years. It's up 3.3% so far in 2026.