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FTS logoFortis Inc.(FTS)Earnings, Financials & Key Ratios

FTS•NYSE•Utilities
$56.13
$28.48B mkt cap·22.4× P/E·Price updated May 6, 2026
SectorUtilitiesIndustryElectric UtilitiesSub-IndustryElectric and gas combination utilities
AboutFortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,065,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 577,000 customers in southern and central Alberta; owns 4 hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 143 MW; and on Prince Edward Island with a generating capacity of 130 MW. Additionally, it provides integrated electric utility service to approximately 68,000 customers in Ontario; approximately 272,000 customers in Newfoundland and Labrador; approximately 32,000 customers on Grand Cayman, Cayman Islands; and approximately 16,000 customers on certain islands in Turks and Caicos. The company also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,200 circuit Kilometers (km) of distribution lines; and approximately 50,500 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.Show more
  • Revenue$12.17B+5.8%
  • EBITDA$5.55B+6.3%
  • Net Income$1.8B+7.1%
  • Free Cash Flow-$2.17B-62.6%
  • EBITDA Margin45.6%+0.5%
  • Net Margin14.78%+1.3%
  • ROE6.96%+1.8%
  • Interest Coverage2.59+1.8%
  • Debt/Equity1.34+2.7%
  • Net Debt/EBITDA6.17-3.8%
  • CapEx / Revenue48.82%+12.1%
  • CapEx Coverage0.68-11.7%
Analysis→Technical→

FTS Key Insights

Fortis Inc. (FTS) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Trading near 52-week high

✗Weaknesses

  • ✗High leverage: 6.2x Debt/EBITDA

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FTS Price & Volume

Fortis Inc. (FTS) stock price & volume — 10-year historical chart

Loading chart...

FTS Growth Metrics

Fortis Inc. (FTS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years6.06%
5 Years6.37%
3 Years3.29%
TTM5.75%

Profit CAGR

10 Years8.37%
5 Years7.15%
3 Years8.87%
TTM7.08%

EPS CAGR

10 Years2.76%
5 Years5.03%
3 Years6.94%
TTM-2.15%

Return on Capital

10 Years5.15%
5 Years5.06%
3 Years5.2%
Last Year5.18%

FTS Recent Earnings

Fortis Inc. (FTS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 2/12 qtrs (17%)
Q2 2026Latest
May 6, 2026
EPS
$0.71
Est $0.70
+1.7%
Revenue
$2.4B
Est $2.6B
-4.2%
Q1 2026
Feb 12, 2026
EPS
$0.65
Est $0.62
+4.8%
Revenue
$2.2B
Est $2.3B
-1.9%
Q4 2025
Nov 4, 2025
EPS
$0.59
Est $0.61
-3.3%
Revenue
$1.5B
Est $2.5B
-40.4%
Q3 2025
Aug 1, 2025
EPS
$0.55
Est $0.51
+7.8%
Revenue
$2.1B
Est $2.5B
-16.9%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 6, 2026
$0.71vs $0.70+1.7%
$2.4Bvs $2.6B-4.2%
Q1 2026Feb 12, 2026
$0.65vs $0.62+4.8%
$2.2Bvs $2.3B-1.9%
Q4 2025Nov 4, 2025
$0.59vs $0.61-3.3%
$1.5Bvs $2.5B-40.4%
Q3 2025Aug 1, 2025
$0.55vs $0.51+7.8%
$2.1Bvs $2.5B-16.9%
Based on last 12 quarters of dataView full earnings history →

FTS Peer Comparison

Fortis Inc. (FTS) competitors in Electric and gas combination utilities — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ATO logoATOAtmos Energy CorporationDirect Competitor30.53B184.5224.7312.91%27.58%7.69%0.69
WEC logoWECWEC Energy Group, Inc.Direct Competitor37.11B113.9423.5913.96%16.25%11.64%1.59
ES logoESEversource EnergyDirect Competitor25.75B68.5215.0313.83%12.49%10.6%1.85
CMS logoCMSCMS Energy CorporationDirect Competitor22.88B74.0520.9813.63%12.55%11.6%1.95
NI logoNINiSource Inc.Direct Competitor22.72B47.4824.3521.76%14.1%8.4%1.39
EVRG logoEVRGEvergy, Inc.Direct Competitor18.65B80.9922.132.37%14.63%8.22%0.07
AVA logoAVAAvista CorporationDirect Competitor3.35B40.5817.051.34%9.83%7.25%1.25
AEE logoAEEAmeren CorporationProduct Competitor30.32B109.5920.4815.43%17.17%11.6%1.47

Compare FTS vs Peers

Fortis Inc. (FTS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ATO

Most directly comparable listed peer for FTS.

Scale Benchmark

vs GE

Larger-name benchmark to compare FTS against a more recognizable public peer.

Peer Set

Compare Top 5

vs ATO, WEC, ES, CMS

FTS Income Statement

Fortis Inc. (FTS) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue8.3B8.39B8.78B8.94B9.45B11.04B11.52B11.51B12.17B
Revenue Growth %21.4%1.07%4.68%1.73%5.74%16.88%4.29%-0.08%5.75%
Cost of Revenue2.36B4.78B2.52B2.56B2.95B3.95B3.77B3.25B3.37B
Gross Profit
5.94B▲ 0%
3.61B▼ 39.3%
6.26B▲ 73.6%
6.37B▲ 1.8%
6.5B▲ 1.9%
7.09B▲ 9.1%
7.75B▲ 9.2%
8.26B▲ 6.6%
8.8B▲ 6.5%
Gross Margin %71.56%43%71.31%71.33%68.77%64.21%67.26%71.77%72.3%
Gross Profit Growth %32.09%-39.26%73.59%1.76%1.95%9.14%9.24%6.62%6.54%
Operating Expenses3.43B3.53B3.23B3.87B4.03B4.35B4.66B4.97B5.31B
Other Operating Expenses---------
EBITDA3.69B3.61B4.39B3.94B3.97B4.41B4.86B5.22B5.55B
EBITDA Margin %44.45%43%49.96%44.05%42.06%39.92%42.17%45.35%45.6%
EBITDA Growth %49.63%-2.22%21.62%-10.3%0.97%10.92%10.19%7.45%6.32%
Depreciation & Amortization1.18B1.24B1.35B1.43B1.5B1.67B1.77B1.93B2.06B
D&A / Revenue %14.2%14.82%15.37%15.98%15.93%15.1%15.39%16.74%16.9%
Operating Income (EBIT)
2.51B▲ 0%
2.37B▼ 5.8%
3.04B▲ 28.5%
2.51B▼ 17.4%
2.47B▼ 1.6%
2.74B▲ 11.0%
3.08B▲ 12.6%
3.29B▲ 6.7%
3.49B▲ 6.1%
Operating Margin %30.25%28.19%34.59%28.07%26.13%24.81%26.78%28.61%28.69%
Operating Income Growth %69.32%-5.81%28.46%-17.45%-1.55%10.98%12.55%6.74%6.08%
Interest Expense914M974M1.03B1.04B1B1.1B1.3B1.41B1.48B
Interest Coverage2.70x2.49x3.07x2.55x2.63x2.64x2.59x2.55x2.59x
Interest / Revenue %11.01%11.61%11.78%11.66%10.62%9.98%11.33%12.22%12.14%
Non-Operating Income-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Pretax Income
1.71B▲ 0%
1.45B▼ 15.3%
2.14B▲ 47.6%
1.62B▼ 24.3%
1.64B▲ 1.2%
1.8B▲ 10.0%
2.07B▲ 14.8%
2.17B▲ 5.0%
2.35B▲ 8.3%
Pretax Margin %20.64%17.29%24.38%18.13%17.35%16.33%17.97%18.89%19.34%
Income Tax588M165M289M231M234M289M360M346M393M
Effective Tax Rate %34.33%11.37%13.5%14.26%14.28%16.03%17.39%15.92%16.69%
Net Income
1.03B▲ 0%
1.17B▲ 13.4%
1.72B▲ 47.7%
1.27B▼ 26.0%
1.29B▲ 1.6%
1.39B▲ 7.7%
1.57B▲ 12.8%
1.68B▲ 6.8%
1.8B▲ 7.1%
Net Margin %12.38%13.9%19.61%14.26%13.7%12.62%13.66%14.6%14.78%
Net Income Growth %55.76%13.42%47.68%-26.02%1.57%7.73%12.84%6.8%7.08%
EPS (Diluted)
2.31▲ 0%
2.74▲ 18.6%
3.64▲ 32.8%
2.66▼ 26.9%
2.61▼ 1.9%
2.78▲ 6.5%
3.10▲ 11.5%
3.24▲ 4.5%
3.40▲ 4.9%
EPS Growth %22.22%18.61%32.85%-26.92%-1.88%6.51%11.51%4.52%4.94%
EPS (Basic)2.322.753.532.582.612.783.103.243.40
Diluted Shares Outstanding416.2M425.2M454.7M454.7M471.4M479M486.5M495.2M529.12M

FTS Balance Sheet

Fortis Inc. (FTS) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets47.82B53.05B53.4B55.48B57.66B64.25B65.92B73.49B74.83B
Asset Growth %-0.17%10.93%0.67%3.89%3.93%11.43%2.6%11.48%1.83%
PP&E (Net)29.67B32.76B34.03B36.04B37.86B41.71B43.44B49.52B50.89B
PP&E / Total Assets %62.04%61.75%63.73%64.96%65.65%64.91%65.89%67.39%68%
Total Current Assets2.21B3.26B2.57B2.61B2.73B4.27B4.03B3.8B3.81B
Cash & Equivalents327M332M370M249M131M209M625M220M367M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Inventory367M398M394M422M478M661M566M685M649M
Other Current Assets443M1.28B617M737M734M1.49B1.06B1.04B915M
Long-Term Investments124M153M126M158M178M316M417M484M0
Goodwill11.64B12.53B12B11.79B11.72B12.46B12.18B13.11B12.53B
Intangible Assets1.08B1.2B1.26B1.29B1.34B1.55B1.51B1.66B1.72B
Other Assets3.1B3.15B3.41B3.59B3.83B3.95B4.35B4.91B5.89B
Total Liabilities31.07B34.59B33.29B35.2B36.74B41.41B42.59B47.63B48.96B
Total Debt22.13B24.79B23.22B24.87B25.95B29.04B30.03B33.7B34.63B
Net Debt21.8B24.45B22.85B24.62B25.82B28.83B29.4B33.48B34.26B
Long-Term Debt20.75B23.16B21.5B23.11B23.71B25.93B27.23B31.22B30.72B
Short-Term Borrowings914M986M1.2B1.39B1.88B2.73B2.42B2.09B3.56B
Capital Lease Obligations461M642M513M373M365M370M378M390M348M
Total Current Liabilities3.5B4.25B4.18B4.15B4.8B6.62B5.96B6.04B7.51B
Accounts Payable696M679M754M707M774M886M990M1.12B3.5B
Accrued Expenses223M230M253M901M218M254M274M305M0
Deferred Revenue204M267M226M0288M401M263M360M0
Other Current Liabilities1.27B1.84B1.5B1.15B567M912M952M1.02B452M
Deferred Taxes00001000K1000K1000K1000K0
Other Liabilities6.4B6.79B7.13B7.57B4.14B4.33B4.44B4.83B10.38B
Total Equity
16.75B▲ 0%
18.46B▲ 10.2%
20.11B▲ 9.0%
20.28B▲ 0.9%
20.92B▲ 3.1%
22.84B▲ 9.2%
23.33B▲ 2.1%
25.85B▲ 10.8%
25.87B▲ 0.1%
Equity Growth %1.82%10.19%8.98%0.85%3.12%9.21%2.15%10.8%0.06%
Shareholders Equity15B16.53B18.53B18.7B19.29B21.03B21.5B23.81B23.81B
Minority Interest1.75B1.92B1.58B1.59B1.63B1.81B1.83B2.04B2.06B
Common Stock11.58B11.89B13.64B13.82B14.24B14.66B15.11B15.59B16.11B
Additional Paid-in Capital10M11M11M11M10M10M9M8M5M
Retained Earnings1.73B2.08B2.92B3.21B3.46B3.73B4.11B4.52B4.97B
Accumulated OCI61M928M336M34M-40M1.01B653M2.07B1.1B
Return on Assets (ROA)2.15%2.31%3.24%2.34%2.29%2.29%2.42%2.41%2.43%
Return on Equity (ROE)6.19%6.62%8.93%6.31%6.28%6.37%6.81%6.83%6.96%
Debt / Equity1.32x1.34x1.15x1.23x1.24x1.27x1.29x1.30x1.34x
Debt / Assets46.27%46.72%43.47%44.83%45%45.19%45.55%45.86%46.28%
Net Debt / EBITDA5.91x6.78x5.21x6.26x6.50x6.54x6.05x6.42x6.17x
Book Value per Share40.2443.4144.2344.6144.3747.6947.9652.2148.89

FTS Cash Flow Statement

Fortis Inc. (FTS) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations2.76B2.6B2.05B2.7B2.91B3.07B3.54B3.88B4.06B
Operating CF Growth %46.28%-5.52%-21.14%31.53%7.63%5.74%15.32%9.51%4.64%
Operating CF / Revenue %33.2%31.04%23.38%30.23%30.77%27.84%30.78%33.73%33.38%
Net Income1.13B1.29B1.33B1.39B1.41B1.51B1.57B1.83B1.96B
Depreciation & Amortization1.18B1.24B1.04B1.43B1.5B1.67B1.77B1.93B2.06B
Deferred Taxes544M136M190.48M226M147M182M272M154M315M
Other Non-Cash Items-35M28M-376.33M14M-106M-14M108M-96M-68M
Working Capital Changes-97M-89M-129.55M-434M-144M-317M-181M69M-203M
Capital Expenditures-3.02B-3.22B-2.7B-4.04B-3.39B-3.87B-4.17B-5.22B-6.23B
CapEx / Revenue %36.43%38.36%32.66%43.17%33.75%32.48%34.61%43.55%48.82%
CapEx / D&A2.56x2.59x2.76x2.70x2.12x2.15x2.25x2.60x2.89x
CapEx Coverage (OCF/CapEx)0.91x0.81x0.72x0.70x0.91x0.86x0.89x0.77x0.68x
Cash from Investing-3.02B-3.25B-2.13B-4.13B-3.49B-4.06B-3.74B-5.39B-5.36B
Acquisitions00767.3M00-100M430M0452M
Purchase of Investments000000000
Sale of Investments000000000
Other Investing-1M-34M-33.16M-275M-299M-372M-186M-383M133M
Cash from Financing339M644M118.76M1.33B451M1.03B613M1.06B1.46B
Dividends Paid-484M-525M-432.62M-851M-671M-737M-768M-818M-873M
Dividend Payout Ratio %40.76%39.37%22.12%61.7%46.99%48.28%44.56%44.29%43.8%
Debt Issuance (Net)1000K1000K-1000K1000K1000K1000K1000K1000K1000K
Stock Issued561M34M1.11B58M60M53M43M46M60M
Share Repurchases000000000
Other Financing448M-49M-47.81M-35M-76M-71M-77M-108M-39M
Net Change in Cash
58M▲ 0%
5M▼ 91.4%
42.25M▲ 745.0%
-121M▼ 386.4%
-118M▲ 2.5%
78M▲ 166.1%
416M▲ 433.3%
-405M▼ 197.4%
147M▲ 136.3%
Exchange Rate Effect-12M24M4.46M-17M12M28M044M-19M
Cash at Beginning269M327M243.08M370M249M131M209M625M220M
Cash at End327M332M285.33M249M131M209M625M220M367M
Free Cash Flow
-268M▲ 0%
-614M▼ 129.1%
-644.69M▼ 5.0%
-1.34B▼ 107.5%
-479M▲ 64.2%
-791M▼ 65.1%
-624M▲ 21.1%
-1.34B▼ 114.1%
-2.17B▼ 62.6%
FCF Growth %94.65%-129.1%-5%-107.54%64.2%-65.14%21.11%-114.1%-62.57%
FCF Margin %-3.23%-7.32%-7.34%-14.97%-5.07%-7.16%-5.42%-11.61%-17.85%
FCF / Net Income %-26.07%-52.66%-37.44%-105.02%-37.02%-56.74%-39.67%-79.52%-120.73%

FTS Key Ratios

Fortis Inc. (FTS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)4.92%6.19%6.62%8.93%6.31%6.28%6.37%6.81%6.83%6.96%
EBITDA Margin36.06%44.45%43%49.96%44.05%42.06%39.92%42.17%45.35%45.6%
Net Debt / EBITDA9.14x5.91x6.78x5.21x6.26x6.50x6.54x6.05x6.42x6.17x
Interest Coverage2.27x2.70x2.49x3.07x2.55x2.63x2.64x2.59x2.55x2.59x
CapEx / Revenue100.78%36.43%38.36%32.66%43.17%33.75%32.48%34.61%43.55%48.82%
Dividend Payout Ratio47.88%40.76%39.37%22.12%61.7%46.99%48.28%44.56%44.29%43.8%
Debt / Equity1.39x1.32x1.34x1.15x1.23x1.24x1.27x1.29x1.30x1.34x
EPS Growth-27.03%22.22%18.61%32.85%-26.92%-1.88%6.51%11.51%4.52%4.94%

FTS Frequently Asked Questions

Fortis Inc. (FTS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Fortis Inc. (FTS) reported $12.17B in revenue for fiscal year 2025. This represents a 2622% increase from $447.0M in 1995.

Fortis Inc. (FTS) grew revenue by 5.8% over the past year. This is steady growth.

Yes, Fortis Inc. (FTS) is profitable, generating $1.80B in net income for fiscal year 2025 (14.8% net margin).

Dividend & Returns

Yes, Fortis Inc. (FTS) pays a dividend with a yield of 1.95%. This makes it attractive for income-focused investors.

Fortis Inc. (FTS) has a return on equity (ROE) of 7.0%. This is below average, suggesting room for improvement.

Fortis Inc. (FTS) had negative free cash flow of $2.17B in fiscal year 2025, likely due to heavy capital investments.

Industry Metrics

Fortis Inc. (FTS) has a dividend payout ratio of 44%. This suggests the dividend is well-covered and sustainable.

Explore More FTS

Fortis Inc. (FTS) financial analysis — history, returns, DCA and operating performance tools

Full FTS Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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