Fortis Inc. (FTS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Fortis Inc. (FTS) stock price & volume — 10-year historical chart
Fortis Inc. (FTS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Fortis Inc. (FTS) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 12, 2026 | $0.65vs $0.62+4.8% | $2.2Bvs $2.3B-1.9% |
| Q4 2025 | Nov 4, 2025 | $0.59vs $0.61-3.3% | $1.5Bvs $2.5B-40.4% |
| Q3 2025 | Aug 1, 2025 | $0.55vs $0.51+7.8% | $2.1Bvs $2.5B-16.9% |
| Q2 2025 | May 7, 2025 | $0.70vs $0.69+1.4% | $2.3Bvs $1.9B+22.1% |
Fortis Inc. (FTS) competitors in Electric and gas combination utilities — business model, growth, and fundamentals comparison
Fortis Inc. (FTS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Fortis Inc. (FTS) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 8.3B | 8.39B | 8.78B | 8.94B | 9.45B | 11.04B | 11.52B | 11.51B | 12.17B |
| Revenue Growth % | 21.4% | 1.07% | 4.68% | 1.73% | 5.74% | 16.88% | 4.29% | -0.08% | 5.75% |
| Cost of Revenue | 2.36B | 4.78B | 2.52B | 2.56B | 2.95B | 3.95B | 3.77B | 3.25B | 6.62B |
| 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% | 5.55B▼ 32.8% |
| Gross Margin % | 71.56% | 43% | 71.31% | 71.33% | 68.77% | 64.21% | 67.26% | 71.77% | 45.6% |
| Gross Profit Growth % | 32.09% | -39.26% | 73.59% | 1.76% | 1.95% | 9.14% | 9.24% | 6.62% | -32.81% |
| Operating Expenses | 3.43B | 3.53B | 3.23B | 3.87B | 4.03B | 4.35B | 4.66B | 4.97B | 2.06B |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - |
| EBITDA | 3.69B | 3.61B | 4.39B | 3.94B | 3.97B | 4.41B | 4.86B | 5.22B | 5.55B |
| 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 & Amortization | 1.18B | 1.24B | 1.35B | 1.43B | 1.5B | 1.67B | 1.77B | 1.93B | 2.06B |
| 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 Expense | 914M | 974M | 1.03B | 1.04B | 1B | 1.1B | 1.3B | 1.41B | 0 |
| Interest Coverage | 2.75x | 2.43x | 2.94x | 2.41x | 2.46x | 2.49x | 2.36x | 2.34x | - |
| Interest / Revenue % | 11.01% | 11.61% | 11.78% | 11.66% | 10.62% | 9.98% | 11.33% | 12.22% | 0% |
| 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 Tax | 588M | 165M | 289M | 231M | 234M | 289M | 360M | 346M | 393M |
| 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) | 2.32 | 2.75 | 3.53 | 2.58 | 2.61 | 2.78 | 3.10 | 3.24 | 3.40 |
| Diluted Shares Outstanding | 416.2M | 425.2M | 454.7M | 454.7M | 471.4M | 479M | 486.5M | 495.2M | 529.12M |
Fortis Inc. (FTS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 47.82B | 53.05B | 53.4B | 55.48B | 57.66B | 64.25B | 65.92B | 73.49B | 74.83B |
| Asset Growth % | -0.17% | 10.93% | 0.67% | 3.89% | 3.93% | 11.43% | 2.6% | 11.48% | 1.83% |
| PP&E (Net) | 29.67B | 32.76B | 34.03B | 36.04B | 37.86B | 41.71B | 43.44B | 49.52B | 50.89B |
| PP&E / Total Assets % | 62.04% | 61.75% | 63.73% | 64.96% | 65.65% | 64.91% | 65.89% | 67.39% | 68% |
| Total Current Assets | 2.21B | 3.26B | 2.57B | 2.61B | 2.73B | 4.27B | 4.03B | 3.8B | 3.81B |
| Cash & Equivalents | 327M | 332M | 370M | 249M | 131M | 209M | 625M | 220M | 367M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 367M | 398M | 394M | 422M | 478M | 661M | 566M | 685M | 649M |
| Other Current Assets | 443M | 1.28B | 617M | 737M | 734M | 1.49B | 1.06B | 1.04B | 915M |
| Long-Term Investments | 124M | 153M | 126M | 158M | 178M | 316M | 417M | 484M | 0 |
| Goodwill | 11.64B | 12.53B | 12B | 11.79B | 11.72B | 12.46B | 12.18B | 13.11B | 12.53B |
| Intangible Assets | 1.08B | 1.2B | 1.26B | 1.29B | 1.34B | 1.55B | 1.51B | 1.66B | 1.72B |
| Other Assets | 3.1B | 3.15B | 3.41B | 3.59B | 3.83B | 3.95B | 4.35B | 4.91B | 5.89B |
| Total Liabilities | 31.07B | 34.59B | 33.29B | 35.2B | 36.74B | 41.41B | 42.59B | 47.63B | 48.96B |
| Total Debt | 22.13B | 24.79B | 23.22B | 24.87B | 25.95B | 29.04B | 30.03B | 33.7B | 34.63B |
| Net Debt | 21.8B | 24.45B | 22.85B | 24.62B | 25.82B | 28.83B | 29.4B | 33.48B | 34.26B |
| Long-Term Debt | 20.75B | 23.16B | 21.5B | 23.11B | 23.71B | 25.93B | 27.23B | 31.22B | 30.72B |
| Short-Term Borrowings | 914M | 986M | 1.2B | 1.39B | 1.88B | 2.73B | 2.42B | 2.09B | 3.56B |
| Capital Lease Obligations | 461M | 642M | 513M | 373M | 365M | 370M | 378M | 390M | 348M |
| Total Current Liabilities | 3.5B | 4.25B | 4.18B | 4.15B | 4.8B | 6.62B | 5.96B | 6.04B | 7.51B |
| Accounts Payable | 696M | 679M | 754M | 707M | 774M | 886M | 990M | 1.12B | 3.5B |
| Accrued Expenses | 223M | 230M | 253M | 901M | 218M | 254M | 274M | 305M | 0 |
| Deferred Revenue | 204M | 267M | 226M | 0 | 288M | 401M | 263M | 360M | 0 |
| Other Current Liabilities | 1.27B | 1.84B | 1.5B | 1.15B | 567M | 912M | 952M | 1.02B | 452M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 0 |
| Other Liabilities | 6.4B | 6.79B | 7.13B | 7.57B | 4.14B | 4.33B | 4.44B | 4.83B | 10.38B |
| 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 Equity | 15B | 16.53B | 18.53B | 18.7B | 19.29B | 21.03B | 21.5B | 23.81B | 23.81B |
| Minority Interest | 1.75B | 1.92B | 1.58B | 1.59B | 1.63B | 1.81B | 1.83B | 2.04B | 2.06B |
| Common Stock | 11.58B | 11.89B | 13.64B | 13.82B | 14.24B | 14.66B | 15.11B | 15.59B | 16.11B |
| Additional Paid-in Capital | 10M | 11M | 11M | 11M | 10M | 10M | 9M | 8M | 5M |
| Retained Earnings | 1.73B | 2.08B | 2.92B | 3.21B | 3.46B | 3.73B | 4.11B | 4.52B | 4.97B |
| Accumulated OCI | 61M | 928M | 336M | 34M | -40M | 1.01B | 653M | 2.07B | 1.1B |
| 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 / Equity | 1.32x | 1.34x | 1.15x | 1.23x | 1.24x | 1.27x | 1.29x | 1.30x | 1.34x |
| Debt / Assets | 46.27% | 46.72% | 43.47% | 44.83% | 45% | 45.19% | 45.55% | 45.86% | 46.28% |
| Net Debt / EBITDA | 5.91x | 6.78x | 5.21x | 6.26x | 6.50x | 6.54x | 6.05x | 6.42x | 6.17x |
| Book Value per Share | 40.24 | 43.41 | 44.23 | 44.61 | 44.37 | 47.69 | 47.96 | 52.21 | 48.89 |
Fortis Inc. (FTS) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 2.76B | 2.6B | 2.05B | 2.7B | 2.91B | 3.07B | 3.54B | 3.88B | 4.06B |
| 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 Income | 1.13B | 1.29B | 1.33B | 1.39B | 1.41B | 1.51B | 1.57B | 1.83B | 1.8B |
| Depreciation & Amortization | 1.18B | 1.24B | 1.04B | 1.43B | 1.5B | 1.67B | 1.77B | 1.93B | 2.06B |
| Deferred Taxes | 544M | 136M | 190.48M | 226M | 147M | 182M | 272M | 154M | 0 |
| Other Non-Cash Items | -35M | 28M | -376.33M | 14M | -106M | -14M | 108M | -96M | 409M |
| Working Capital Changes | -97M | -89M | -129.55M | -434M | -144M | -317M | -181M | 69M | -203M |
| Capital Expenditures | -3.02B | -3.22B | -2.7B | -4.04B | -3.39B | -3.87B | -4.17B | -5.22B | -5.94B |
| CapEx / Revenue % | 36.43% | 38.36% | 32.66% | 43.17% | 33.75% | 32.48% | 34.61% | 43.55% | 48.82% |
| CapEx / D&A | 2.56x | 2.59x | 2.76x | 2.70x | 2.12x | 2.15x | 2.25x | 2.60x | 2.89x |
| CapEx Coverage (OCF/CapEx) | 0.91x | 0.81x | 0.72x | 0.70x | 0.91x | 0.86x | 0.89x | 0.77x | 0.68x |
| Cash from Investing | -3.02B | -3.25B | -2.13B | -4.13B | -3.49B | -4.06B | -3.74B | -5.39B | -5.36B |
| Acquisitions | 0 | 0 | 767.3M | 0 | 0 | -100M | 430M | 0 | 0 |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -1M | -34M | -33.16M | -275M | -299M | -372M | -186M | -383M | 585M |
| Cash from Financing | 339M | 644M | 118.76M | 1.33B | 451M | 1.03B | 613M | 1.06B | 1.46B |
| 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% | 48.53% |
| Debt Issuance (Net) | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Stock Issued | 561M | 34M | 1.11B | 58M | 60M | 53M | 43M | 46M | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 448M | -49M | -47.81M | -35M | -76M | -71M | -77M | -108M | 406M |
| 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 | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 0 | 1000K | -1000K |
| Cash at Beginning | 269M | 327M | 243.08M | 370M | 249M | 131M | 209M | 625M | 220M |
| Cash at End | 327M | 332M | 285.33M | 249M | 131M | 209M | 625M | 220M | 367M |
| 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% | -1.88B▼ 40.7% |
| FCF Growth % | 94.65% | -129.1% | -5% | -107.54% | 64.2% | -65.14% | 21.11% | -114.1% | -40.72% |
| FCF Margin % | -3.23% | -7.32% | -7.34% | -14.97% | -5.07% | -7.16% | -5.42% | -11.61% | -15.45% |
| FCF / Net Income % | -26.07% | -52.66% | -37.44% | -105.02% | -37.02% | -56.74% | -39.67% | -79.52% | -104.5% |
Fortis Inc. (FTS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 Margin | 36.06% | 44.45% | 43% | 49.96% | 44.05% | 42.06% | 39.92% | 42.17% | 45.35% | 45.6% |
| Net Debt / EBITDA | 9.14x | 5.91x | 6.78x | 5.21x | 6.26x | 6.50x | 6.54x | 6.05x | 6.42x | 6.17x |
| Interest Coverage | 2.19x | 2.75x | 2.43x | 2.94x | 2.41x | 2.46x | 2.49x | 2.36x | 2.34x | - |
| CapEx / Revenue | 100.78% | 36.43% | 38.36% | 32.66% | 43.17% | 33.75% | 32.48% | 34.61% | 43.55% | 48.82% |
| Dividend Payout Ratio | 47.88% | 40.76% | 39.37% | 22.12% | 61.7% | 46.99% | 48.28% | 44.56% | 44.29% | 48.53% |
| Debt / Equity | 1.39x | 1.32x | 1.34x | 1.15x | 1.23x | 1.24x | 1.27x | 1.29x | 1.30x | 1.34x |
| EPS Growth | -27.03% | 22.22% | 18.61% | 32.85% | -26.92% | -1.88% | 6.51% | 11.51% | 4.52% | 4.94% |
Fortis Inc. (FTS) stock FAQ — growth, dividends, profitability & financials explained
Fortis Inc. (FTS) reported $11.34B in revenue for fiscal year 2025. This represents a 2437% 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 $1.68B in net income for fiscal year 2025 (14.8% net margin).
Yes, Fortis Inc. (FTS) pays a dividend with a yield of 2.11%. 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 $2.00B in fiscal year 2025, likely due to heavy capital investments.
Fortis Inc. (FTS) has a dividend payout ratio of 49%. This suggests the dividend is well-covered and sustainable.
Fortis Inc. (FTS) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates