Canadian Pacific Railway's operating ratio 2011-2023
Canadian Pacific Railway's operating ratio decreased dramatically between the fiscal year of 2011 and the fiscal year of 2020. From 2020 up until 2023 however, Canadian Pacific Railway reported increasing ratios, with an operating ratio of 65 percent as of 2023, a decrease of 4.5 percent compared to the previous year. The operating ratio is calculated by dividing operating expenses by operating revenues.