Comprehensive Stock Comparison
Compare Fortis Inc. (FTS) vs Duke Energy Corporation (DUK) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | DUK | 6.2% revenue growth vs FTS's 5.8% |
| Value | FTS | Lower P/E (15.9x vs 19.5x) |
| Quality / Margins | DUK | 15.7% net margin vs FTS's 14.8% |
| Stability / Safety | FTS | Lower D/E ratio (133.9% vs 171.4%) |
| Dividends | FTS | 2.1% yield; 4-year raise streak; DUK pays no meaningful dividend |
| Momentum (1Y) | FTS | +35.2% vs DUK's +15.0% |
| Efficiency (ROA) | DUK | 2.6% ROA vs FTS's 2.2%, ROIC 4.6% vs 4.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Fortis Inc. is a North American regulated electric and gas utility that generates, transmits, and distributes electricity and natural gas to millions of customers across Canada, the United States, and the Caribbean. It earns stable, regulated returns primarily from rate-regulated utility operations — with electricity distribution contributing roughly 60% of revenue and gas distribution about 30% — supplemented by contracted wholesale power sales. The company's key advantage is its geographically diversified portfolio of essential utility assets operating under predictable regulatory frameworks that provide stable cash flows and inflation-protected returns.
Duke Energy is a regulated electric and gas utility serving customers across six states in the Southeast and Midwest. It makes money primarily through regulated rate-based returns on its electric utility infrastructure (~70% of revenue) and gas distribution operations (~20%), with additional income from commercial renewable energy projects. Its key advantage is its monopoly status as a regulated utility in its service territories, which provides stable, predictable returns through government-approved rate structures.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
FTS leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). DUK leads in 2 (Financial Metrics, Valuation Metrics). 1 tied.
Financial Metrics (TTM)
DUK is the larger business by revenue, generating $31.8B annually — 2.8x FTS's $11.3B. Profitability is closely matched — net margins range from 15.7% (DUK) to 14.8% (FTS).
| Metric | FTSFortis Inc. | DUKDuke Energy Corpo… |
|---|---|---|
| RevenueTrailing 12 months | $11.3B | $31.8B |
| EBITDAEarnings before interest/tax | $5.2B | $15.1B |
| Net IncomeAfter-tax profit | $1.7B | $5.0B |
| Free Cash FlowCash after capex | -$2.0B | $9.0B |
| Gross MarginGross profit ÷ Revenue | +56.5% | +59.7% |
| Operating MarginEBIT ÷ Revenue | +28.6% | +27.1% |
| Net MarginNet income ÷ Revenue | +14.8% | +15.7% |
| FCF MarginFCF ÷ Revenue | -17.7% | +28.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +4.4% | +6.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.8% | +15.3% |
Valuation Metrics
At 20.7x trailing earnings, DUK trades at a 10% valuation discount to FTS's 23.1x P/E. Adjusting for growth (PEG ratio), DUK offers better value at 0.70x vs FTS's 4.60x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | FTSFortis Inc. | DUKDuke Energy Corpo… |
|---|---|---|
| Market CapShares × price | $29.2B | $101.8B |
| Enterprise ValueMkt cap + debt − cash | $54.2B | $192.4B |
| Trailing P/EPrice ÷ TTM EPS | 23.14x | 20.74x |
| Forward P/EPrice ÷ next-FY EPS est. | 15.87x | 19.52x |
| PEG RatioP/E ÷ EPS growth rate | 4.60x | 0.70x |
| EV / EBITDAEnterprise value multiple | 13.37x | 12.91x |
| Price / SalesMarket cap ÷ Revenue | 3.28x | 3.16x |
| Price / BookPrice ÷ Book value/share | 1.61x | 1.92x |
| Price / FCFMarket cap ÷ FCF | — | 8.25x |
Profitability & Efficiency
DUK delivers a 9.5% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $6 for FTS. FTS carries lower financial leverage with a 1.34x debt-to-equity ratio, signaling a more conservative balance sheet compared to DUK's 1.71x.
| Metric | FTSFortis Inc. | DUKDuke Energy Corpo… |
|---|---|---|
| ROE (TTM)Return on equity | +6.5% | +9.5% |
| ROA (TTM)Return on assets | +2.2% | +2.6% |
| ROICReturn on invested capital | +4.4% | +4.6% |
| ROCEReturn on capital employed | +5.2% | +5.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 1.34x | 1.71x |
| Net DebtTotal debt minus cash | $34.3B | $90.6B |
| Cash & Equiv.Liquid assets | $367M | $245M |
| Total DebtShort + long-term debt | $34.6B | $90.9B |
| Interest CoverageEBIT ÷ Interest expense | — | 2.36x |
Total Returns (with DRIP)
A $10,000 investment in DUK five years ago would be worth $17,377 today (with dividends reinvested), compared to $16,825 for FTS. Over the past 12 months, FTS leads with a +35.2% total return vs DUK's +15.0%. The 3-year compound annual growth rate (CAGR) favors FTS at 16.6% vs DUK's 15.0% — a key indicator of consistent wealth creation.
| Metric | FTSFortis Inc. | DUKDuke Energy Corpo… |
|---|---|---|
| YTD ReturnYear-to-date | +11.7% | +12.3% |
| 1-Year ReturnPast 12 months | +35.2% | +15.0% |
| 3-Year ReturnCumulative with dividends | +58.6% | +52.1% |
| 5-Year ReturnCumulative with dividends | +68.3% | +73.8% |
| 10-Year ReturnCumulative with dividends | +160.9% | +128.1% |
| CAGR (3Y)Annualised 3-year return | +16.6% | +15.0% |
Risk & Volatility
FTS is the less volatile stock with a -0.10 beta — it tends to amplify market swings less than DUK's -0.05 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | FTSFortis Inc. | DUKDuke Energy Corpo… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | -0.10x | -0.05x |
| 52-Week HighHighest price in past year | $57.93 | $131.57 |
| 52-Week LowLowest price in past year | $43.19 | $111.22 |
| % of 52W HighCurrent price vs 52-week peak | +99.3% | +99.5% |
| RSI (14)Momentum oscillator 0–100 | 67.0 | 70.2 |
| Avg Volume (50D)Average daily shares traded | 863K | 3.4M |
Analyst Outlook
Wall Street rates FTS as "Hold" and DUK as "Hold". Consensus price targets imply 2.0% upside for DUK (target: $133) vs -11.5% for FTS (target: $51). FTS is the only dividend payer here at 2.10% yield — a key consideration for income-focused portfolios.
| Metric | FTSFortis Inc. | DUKDuke Energy Corpo… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $50.86 | $133.45 |
| # AnalystsCovering analysts | 12 | 31 |
| Dividend YieldAnnual dividend ÷ price | +2.1% | — |
| Dividend StreakConsecutive years of raises | 4 | 0 |
| Dividend / ShareAnnual DPS | $1.65 | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Fortis Inc. (FTS) | 100 | 130.28 | +30.3% |
| Duke Energy Corpora… (DUK) | 100 | 130.31 | +30.3% |
Duke Energy Corpora… (DUK) returned +74% over 5 years vs Fortis Inc. (FTS)'s +68%. A $10,000 investment in DUK 5 years ago would be worth $17,377 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Fortis Inc. (FTS) | $6.8B | $12.2B | +78.0% |
| Duke Energy Corpora… (DUK) | $22.7B | $32.2B | +41.7% |
Fortis Inc.'s revenue grew from $6.8B (2016) to $12.2B (2025) — a 6.6% CAGR. Duke Energy Corporation's revenue grew from $22.7B (2016) to $32.2B (2025) — a 4.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Fortis Inc. (FTS) | 9.7% | 14.8% | +53.2% |
| Duke Energy Corpora… (DUK) | 11.7% | 15.4% | +31.5% |
Fortis Inc.'s net margin went from 10% (2016) to 15% (2025). Duke Energy Corporation's net margin went from 12% (2016) to 15% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Fortis Inc. (FTS) | 15.9 | 15.3 | -3.8% |
| Duke Energy Corpora… (DUK) | 19.3 | 18.6 | -3.6% |
Fortis Inc. has traded in a 11x–19x P/E range over 9 years; current trailing P/E is ~23x. Duke Energy Corporation has traded in a 18x–53x P/E range over 9 years; current trailing P/E is ~21x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Fortis Inc. (FTS) | 1.89 | 3.4 | +79.9% |
| Duke Energy Corpora… (DUK) | 3.11 | 6.31 | +102.9% |
Fortis Inc.'s EPS grew from $1.89 (2016) to $3.40 (2025) — a 7% CAGR. Duke Energy Corporation's EPS grew from $3.11 (2016) to $6.31 (2025) — a 8% CAGR.
Chart 6Free Cash Flow — 5 Years
Fortis Inc. generated $-2B FCF in 2025 (-292% vs 2021). Duke Energy Corporation generated $12B FCF in 2025 (+965% vs 2021).
FTS vs DUK: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is FTS or DUK a better buy right now?
Duke Energy Corporation (DUK) offers the better valuation at 20.7x trailing P/E (19.5x forward), making it the more compelling value choice. Analysts rate Fortis Inc. (FTS) a "Hold" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — FTS or DUK?
On trailing P/E, Duke Energy Corporation (DUK) is the cheapest at 20.7x versus Fortis Inc. at 23.1x. On forward P/E, Fortis Inc. is actually cheaper at 15.9x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Duke Energy Corporation wins at 0.66x versus Fortis Inc.'s 3.15x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — FTS or DUK?
Over the past 5 years, Duke Energy Corporation (DUK) delivered a total return of +73.8%, compared to +68.3% for Fortis Inc. (FTS). A $10,000 investment in DUK five years ago would be worth approximately $17K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FTS returned +160.9% versus DUK's +128.1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FTS or DUK?
By beta (market sensitivity over 5 years), Fortis Inc. (FTS) is the lower-risk stock at -0.10β versus Duke Energy Corporation's -0.05β — meaning DUK is approximately -47% more volatile than FTS relative to the S&P 500. On balance sheet safety, Fortis Inc. (FTS) carries a lower debt/equity ratio of 134% versus 171% for Duke Energy Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — FTS or DUK?
Duke Energy Corporation (DUK) is the more profitable company, earning 15.4% net margin versus 14.8% for Fortis Inc. — meaning it keeps 15.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FTS leads at 28.7% versus 26.6% for DUK. At the gross margin level — before operating expenses — FTS leads at 45.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is FTS or DUK more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Duke Energy Corporation (DUK) is the more undervalued stock at a PEG of 0.66x versus Fortis Inc.'s 3.15x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Fortis Inc. (FTS) trades at 15.9x forward P/E versus 19.5x for Duke Energy Corporation — 3.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DUK: 2.0% to $133.45.
07Which pays a better dividend — FTS or DUK?
In this comparison, FTS (2.1% yield) pays a dividend. DUK does not pay a meaningful dividend and should not be held primarily for income.
08Is FTS or DUK better for a retirement portfolio?
For long-horizon retirement investors, Fortis Inc. (FTS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.10), 2.1% yield, +160.9% 10Y return). Both have compounded well over 10 years (FTS: +160.9%, DUK: +128.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between FTS and DUK?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. FTS pays a dividend while DUK does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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