Last 48 quarters of trend data · Utilities · Regulated Electric
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Fortis Inc.'s quarterly P/E stands at 15.6x, up 20.4% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 20.3% YoY to 11.9x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 23.14 | 15.64 | 21.87 | 15.50 | 11.39 | 12.99 | 13.36 | 14.49 | 10.62 | 13.18 | 11.58 | 17.66 | 11.68 |
| — | +20.4% | +63.6% | +6.9% | +7.3% | -1.5% | +15.4% | -17.9% | -9.1% | +2.7% | -15.9% | -10.3% | -30.1% | |
| P/S Ratio | 3.28 | 2.57 | 3.04 | 2.12 | 1.71 | 1.75 | 2.04 | 1.80 | 1.56 | 1.74 | 1.69 | 2.00 | 1.55 |
| — | +46.8% | +49.2% | +18.1% | +9.7% | +0.3% | +20.7% | -10.4% | +0.7% | +16.1% | -4.6% | -11.2% | -25.4% | |
| P/B Ratio | 1.61 | 1.22 | 0.98 | 0.93 | 0.87 | 0.80 | 0.92 | 0.78 | 0.81 | 0.86 | 0.78 | 0.90 | 0.89 |
| — | +53.2% | +5.5% | +19.9% | +7.7% | -7.4% | +18.7% | -13.3% | -9.0% | +3.5% | -1.0% | -12.7% | -20.6% | |
| P/FCF | — | — | — | — | — | — | 62.66 | — | — | — | — | 1148.91 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 13.37 | 11.94 | 14.95 | 10.95 | 9.66 | 9.92 | 10.37 | 10.33 | 9.27 | 10.04 | 9.48 | 11.34 | 9.77 |
| — | +20.3% | +44.2% | +6.0% | +4.2% | -1.2% | +9.4% | -8.9% | -5.1% | -1.4% | -9.2% | -4.9% | -14.3% | |
| EV / EBIT | 21.24 | 20.34 | 21.88 | 15.88 | 13.58 | 14.83 | 14.65 | 15.67 | 13.12 | 13.91 | 13.81 | 17.28 | 13.76 |
| — | +37.1% | +49.4% | +1.3% | +3.5% | +6.6% | +6.1% | -9.3% | -4.6% | -4.4% | -15.4% | -8.8% | -20.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Fortis Inc.'s operating margin was 28.2% in Q4 2025, down 1.5 pp QoQ and down 1.1 pp YoY. Gross margin contracted 38.8% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.6% | 44.8% | 29.6% | 74.6% | 68.8% | 73.2% | 73.4% | 73.3% | 67.6% | 68.8% | 71.6% | 69.7% | 60.5% |
| — | -38.8% | -59.6% | +1.8% | +1.8% | +6.4% | +2.6% | +5.2% | +11.9% | +14.8% | +4.5% | +2.5% | -2.2% | |
| Operating Margin | 28.7% | 28.2% | 29.6% | 28.4% | 28.5% | 29.3% | 29.4% | 27.6% | 28.1% | 27.0% | 30.2% | 25.2% | 25.0% |
| — | -3.8% | +0.9% | +2.8% | +1.6% | +8.5% | -2.7% | +9.6% | +12.3% | +13.6% | +10.6% | +2.1% | +4.9% | |
| Net Margin | 14.8% | 14.4% | 14.7% | 14.4% | 15.6% | 14.1% | 15.8% | 13.1% | 15.3% | 13.8% | 15.1% | 12.0% | 13.6% |
| — | +2.5% | -7.4% | +9.8% | +1.8% | +2.0% | +4.8% | +9.0% | +12.1% | +13.2% | +12.8% | -0.6% | +5.7% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.0% | 1.7% | 1.2% | 1.6% | 2.0% | 1.7% | 1.8% | 1.4% | 2.0% | 1.7% | 1.8% | 1.3% | 2.0% |
| — | +3.1% | -33.3% | +8.8% | -0.8% | -2.7% | +1.7% | +6.7% | +2.1% | +0.7% | +15.3% | -4.0% | +13.0% | |
| ROA | 2.4% | 0.6% | 0.4% | 0.5% | 0.7% | 0.6% | 0.6% | 0.5% | 0.7% | 0.6% | 0.6% | 0.5% | 0.7% |
| — | +2.5% | -33.8% | +7.0% | -1.8% | -3.7% | +0.6% | +5.9% | +1.7% | +0.1% | +14.3% | -4.8% | +11.3% | |
| ROIC | 4.4% | 1.1% | 0.8% | 1.0% | 1.2% | 1.1% | 1.1% | 1.0% | 1.2% | 1.1% | 1.2% | 0.9% | 1.2% |
| — | -4.2% | -28.4% | +0.2% | -2.4% | +2.2% | -6.4% | +6.5% | +2.2% | +0.9% | +12.2% | -2.3% | +10.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Fortis Inc.'s Debt/EBITDA ratio is 25.1x, down from 34.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 19.5% YoY to 0.51x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.34 | 1.34 | 1.31 | 1.32 | 1.31 | 1.30 | 1.31 | 1.29 | 1.29 | 1.29 | 1.29 | 1.27 | 1.28 |
| — | +2.7% | -0.1% | +2.7% | +1.9% | +1.3% | +1.8% | +1.0% | +0.7% | +1.2% | +1.8% | +2.9% | +2.3% | |
| Debt / EBITDA | 6.24 | 25.09 | 34.51 | 25.77 | 23.44 | 24.71 | 24.74 | 26.03 | 23.05 | 24.35 | 24.02 | 26.97 | 23.33 |
| — | +1.6% | +39.5% | -1.0% | +1.7% | +1.5% | +3.0% | -3.5% | -1.2% | -1.4% | -7.5% | +2.8% | -3.7% | |
| Current Ratio | 0.51 | 0.51 | 0.66 | 0.58 | 0.76 | 0.63 | 0.74 | 0.69 | 0.60 | 0.67 | 0.71 | 0.79 | 0.68 |
| — | -19.5% | -9.8% | -16.1% | +25.6% | -6.8% | +3.6% | -12.3% | -10.7% | +4.6% | +14.0% | +23.2% | +6.7% | |
| Quick Ratio | 0.42 | 0.42 | 0.54 | 0.47 | 0.63 | 0.52 | 0.63 | 0.58 | 0.52 | 0.58 | 0.62 | 0.69 | 0.58 |
| — | -18.5% | -13.5% | -19.9% | +21.6% | -11.1% | +1.9% | -15.0% | -10.8% | +6.4% | +21.0% | +29.4% | +6.2% | |
| Interest Coverage | — | — | 2.35 | 2.17 | 2.58 | 2.35 | 2.29 | 2.13 | 2.61 | 2.32 | 2.48 | 2.02 | 2.63 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonFortis Inc.'s current P/E is 23.1x. The average P/E over the last 4 quarters is 16.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Fortis Inc.'s current operating margin is 28.7%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Fortis Inc.'s business trajectory between earnings reports.