Fortis Inc. (FTS) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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FTS Revenue Growth
Revenue Breakdown (FY 2025)
FTS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
FTS Revenue Analysis (2014–2025)
As of May 6, 2026, Fortis Inc. (FTS) generated trailing twelve-month (TTM) revenue of $11.34 billion, reflecting modest growth of +4.4% year-over-year. The most recent quarter (Q4 2025) recorded $3.08 billion in revenue, up 46.0% sequentially.
Looking at the longer-term picture, FTS's 5-year compound annual growth rate (CAGR) stands at +6.4%, indicating steady revenue expansion. The company achieved its highest annual revenue of $12.17 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows FTS's business is primarily driven by Electric and Gas (97%), and Other Services (3%). With over half of revenue concentrated in Electric and Gas, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including ATO (+16.4% YoY), WEC (+11.2% YoY), and ES (+13.1% YoY), FTS has underperformed the peer group in terms of revenue growth. Compare FTS vs ATO →
FTS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FTSCurrent | $11.3B | +4.4% | +6.4% | 28.7% | |
 ATO | $4.7B | +16.4% | +10.8% | 33.2% | |
 WEC | $9.8B | +11.2% | +6.2% | 24.2% | |
 ES | $11.9B | +13.1% | +6.9% | 22.7% | |
 CMS | $8.5B | +13.3% | +5.9% | 20.2% | |
 NI | $6.6B | +19.6% | +7.2% | 27.6% |
FTS Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $12.17B | +5.8% | $5.55B | 45.6% | $3.49B | 28.7% |
| 2024 | $11.51B | -0.1% | $8.26B | 71.8% | $3.29B | 28.6% |
| 2023 | $11.52B | +4.3% | $7.75B | 67.3% | $3.08B | 26.8% |
| 2022 | $11.04B | +16.9% | $7.09B | 64.2% | $2.74B | 24.8% |
| 2021 | $9.45B | +5.7% | $6.50B | 68.8% | $2.47B | 26.1% |
| 2020 | $8.94B | +1.7% | $6.37B | 71.3% | $2.51B | 28.1% |
| 2019 | $8.78B | +4.7% | $6.26B | 71.3% | $3.04B | 34.6% |
| 2018 | $8.39B | +1.1% | $3.61B | 43.0% | $2.37B | 28.2% |
| 2017 | $8.30B | +21.4% | $5.94B | 71.6% | $2.51B | 30.2% |
| 2016 | $6.84B | +1.2% | $4.50B | 65.8% | $1.48B | 21.7% |
Full FTS Stock Analysis
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Start ComparisonFTS — Frequently Asked Questions
Quick answers to the most common questions about buying FTS stock.
Is FTS's revenue growth accelerating or slowing?
FTS revenue growth slowed to +4.4%, below the 5-year CAGR of +6.4%. TTM revenue is $11.3B. The deceleration marks a shift from historical growth rates.
What is FTS's long-term revenue growth rate?
Fortis Inc.'s 5-year revenue CAGR of +6.4% reflects the variable expansion pattern. Current YoY growth of +4.4% is near this long-term average.
How is FTS's revenue distributed by segment?
FTS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.