Hospital Financials
Hospital financial highlights for the year ended March 31, 2026.
SickKids is committed to operational efficiency, transparency and accountability. We support evidence-based decisions to enhance our financial health, conduct business under the principle of fiscal prudence and act with integrity and good judgment when allocating resources.
For 2025-26 the Hospital had an operating deficit of ($73.1M). Included in the deficit was $21.0M in restricted investment income that cannot be used for operations. After removing the restricted investment income, the Hospital continues to experience a significant structural deficit as it has reported in previous years.
The structural deficit relates to years of inflation, increases in patient volumes and acuity and other cost pressures that are outpacing increases in funding from our major funder, the Ministry of Health.
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| Funding source | Amount (In millions) |
|---|---|
| SickKids Foundation | $108.7 |
| Canadian Institutes of Health Research | $60.9 |
| Canada Foundation for Innovation | $27.6 |
| Ministry of Colleges, Universities, Research Excellence and Security | $9.4 |
| National Institutes of Health | $8.5 |
| Tri-Agency Institutional Programs Secretariat – Research Support Fund | $8.3 |
| Tri-Agency Institutional Programs Secretariat – Canada Research Chairs | $5.8 |
| Ministry of Health | $5.5 |
| Genome Canada | $4.8 |
| Bill & Melinda Gates Foundation | $4.7 |
| Good Ventures Foundation | $3.4 |
| University of Toronto | $2.9 |
| United States Department of Defense | $2.8 |
| Natural Sciences and Engineering Research Council of Canada | $2.7 |
| Vertex Pharmaceuticals Incorporated | $1.9 |
| The Terry Fox Research Institute | $1.9 |
| F. Hoffmann-La Roche Ltd | $1.8 |
| Canadian Cancer Society Research Institute | $1.6 |
| Alex's Lemonade Stand Foundation | $1.4 |
| Cystic Fibrosis Foundation | $1.3 |
| Ontario Brain Institute | $1.3 |
| McLaughlin Centre, University of Toronto | $1.2 |
| International Development Research Centre | $1.2 |
| Breakthrough T1D | $1.1 |
| C.H.I.L.D. Foundation | $1.0 |
| Social Sciences and Humanities Research | $1.0 |
2025-26 Total Hospital Revenues and Expenses
revenues
(In millions)
| Sources of Revenue | Amount (In millions) | Percentage |
|---|---|---|
| Amortization | $45.2 | 3% |
| Commercial Ventures | $60.0 | 4% |
| Patient Care and Other | $88.8 | 6% |
| SickKids Foundation | $140.1 | 9% |
| Research Grants | $179.4 | 12% |
| Investment Income | $31.0 | 2% |
| Ministry of Health/Ontario Health | $974.4 | 64% |
| Total | $1.52 Billion |
$1.52 billion
expenses
(In millions)
| Sources of Expenses | Amount (In millions) | Percentage |
|---|---|---|
| Administrative and General | $40.1 | 3% |
| Depreciation and Accretion | $102.0 | 6% |
| Other Operating | $166.4 | 10% |
| Clinical Supplies and Drugs | $219.5 | 14% |
| Interest | $25.2 | 2% |
| Compensation | $1,038.8 | 65% |
| Total | $1.59 Billion |
$1.59 billion
2025-26 Total Patient Care Revenues and Expenses
revenues
(In millions)
| Revenues (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Fee-for-Service | $52.2 | 5% |
| Other | $78.1 | 7% |
| Ministry of Health/Ontario Health | $914.0 | 88% |
| Total | $1.04 Billion |
$1.04 billion
Expenses
(In millions)
| Expenses (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Administrative and General | $24.2 | 2% |
| Depreciation and Accretion | $69.1 | 6% |
| Other Operating | $94.8 | 8% |
| Clinical Supplies and Drugs | $104.0 | 9% |
| Interest Expense | $14.8 | 2% |
| Compensation | $840.5 | 73% |
| Total | $1.15 Billion |
$1.15 billion
2025-26 Investment Performance
Hospital Investments
(In millions)
| Hospital Investments (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Patient Support Centre Debenture Proceeds | $34.9 | 8% |
| Other | $37.3 | 9% |
| Debenture Retirement Sinking Funds | $105.1 | 25% |
| Post-Retirement Benefit Assets | $250.5 | 58% |
| Total | $427.8 Million |
$427.8 million
Investment Income
(In millions)
Restricted Investment Income*
| Financial year | Restricted investment income/(loss) (in millions) |
|---|---|
| 2021/2022 | $20.1 |
| 2022/2023 | $14.3 |
| 2023/2024 | $15.1 |
| 2024/2025 | $41.6 |
| 2025/2026 | $21.0 |
* Restricted investment income cannot be used for operations.
Unrestricted Investment Income
| Financial year | Unrestricted investment income/(loss) (in millions) |
|---|---|
| 2021/2022 | $1.0 |
| 2022/2023 | $7.7 |
| 2023/2024 | $13.3 |
| 2024/2025 | $14.6 |
| 2025/2026 | $10.0 |
2025-26 Total Research Institute Revenues and Expenses
Sources of Research Institute Funding
(In millions)
| Sources of Research Institute Funding (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Industry Partnerships and Commercialization Income | $3.1 | 1% |
| External Billings (Core Facilities) | $6.7 | 2% |
| SickKids Foundation | $108.7 | 34% |
| Research Awards and Contracts | $201.5 | 63% |
| Total | $320.0 Million * |
$320.0 million *
*Research Revenues includes a portion of Amortization of Deferred Capital Contributions presented in the Financial Statements
Research grants and awards sources over $1 million
(In millions)
Total Research Institute Expenditure
(In Millions)
| Sources of Research Institute Expenditure (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Internal Costs (Net) | $84.2 | 26% |
| External Grant Funded Costs | $245.4 | 74% |
| Total | $329.6 Million |
$329.6 million
Total Research Internal Expenditure
(In millions)
| Sources of Total Research Internal Expenditure (In Millions) | Amount (In millions) |
|---|---|
| Scientist Salaries | $24.7 |
| Peter Gilgan Centre for Research and Learning (PGCRL) Operations | $20.3 |
| Debenture Interest | $10.4 |
| Research Operations | $21.3 |
| Technology and Licensing Expenses | $4.6 |
| Start-Up and Scientific Support | $22.2 |
| Core Infrastructure | $4.6 |
| Depreciation | $4.8 |
| Recoveries | -$28.7 |
| Total | $84.2 Million |
$84.2 million