A new Statistics Canada study analyzing financial ratios for Canadian universities reveals significant shifts in institutional revenue streams, particularly an increased dependency on international student tuition fees. The comprehensive analysis examines how universities navigated financial pressures during the COVID-19 pandemic, including campus closures, fluctuating international enrollment, and enhanced federal research funding. Larger institutions, U15 members, and graduate-focused universities demonstrated higher research revenue and tuition discount rates, while maintaining lower reliance on ancillary income. With recent policy restrictions on international student admissions, universities in Alberta, British Columbia, and Ontario face potential revenue challenges in the 2024/2025 fiscal year and beyond, as indicated by their tuition dependency ratios.