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Fortis

FTS Utilities Utilities Regulated Electric

Fortis' revenue for fiscal 2025 (year ended December 2025) was $8.7 billion, up 3.71% from fiscal 2024. In the quarter to June 2026, revenue grew 4.02%, EPS grew 1.82%, free cash flow grew 29.5% and total debt rose 7.34%, each against the same quarter a year earlier. Operating cash flow growth for five consecutive years; insiders bought in the last twelve months.

55.76 1.10 +2.01%

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Market cap: $27.9B
P/E: 22.6×
Fwd P/E: 21.5×
Dividend yield: 3.31%
F-score: 6/9
Altman Z: 0.80
Beneish M: −2.73
Dividend safety: 24/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.05

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	1	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.05%

Capital & Financial Ratios $m

Market Cap 27,930.00

Revenue 8,947.75

Net Income 1,417.23

Free Cash Flow (1,488.74)

Net Debt 25,961.62

Current Ratio 0.56

Debt/Equity 1.32

P/E ratio 22.57

Fwd P/E 21.50

P/S ratio 3.18

P/B ratio 1.52

Past 5Y EPS Growth 4.00%

This Y EPS Growth (1.10%)

Next Y EPS Growth 7.29%

Next Y revenue growth 5.64%

Next 5Y EPS Growth 3.95%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 83.82%

10-year low 10-year high

P/S against its own 10 years 95.29%

10-year low 10-year high

P/B against its own 10 years 93.14%

10-year low 10-year high

EV/Sales against its own 10 years 95.83%

10-year low 10-year high

Dividends

Payout Ratio 0.75

Annual Dividend Rate 1.85

Annual Dividend Yield 3.31%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.81	0.47 0.47 0.46
2025	1.77	0.43 0.44 0.44 0.46
2024	1.74	0.44 0.43 0.43 0.44
2023	1.69	0.42 0.42 0.42 0.43
2022	1.67	0.42 0.42 0.41 0.42
2021	1.64	0.40 0.42 0.39 0.42
2020	1.45	0.36 0.34 0.36 0.39
2019	1.37	0.34 0.33 0.34 0.36
2018	1.34	0.34 0.33 0.33 0.34
2017	1.25	0.31 0.30 0.32 0.33
2016	1.44	0.27 0.29 0.29 0.59

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	463	161	263	277
Receivables	1,347	1,376	1,213	1,360
Inventory	419	500	464	492
Other	642	601	655	736
	2,982	2,770	2,723	3,025

	2023	2024	2025	Q'26
Payables	2,202	2,447	2,507	2,563
ST’ Debt	1,789	1,524	2,546	2,480
Other	427	434	323	339
	4,418	4,405	5,377	5,382

Compound Annual Growth %

	10y	5y	3y
Sales	5.16%	5.48%	0.84%
Cash Flow	8.30%	7.59%	7.13%
Earnings	7.97%	6.33%	6.24%
Book Value	8.61%	4.10%	1.76%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,480	2,117	—	—	—
’25	2,325	2,035	2,133	2,218	8,710
’24	2,311	1,951	2,031	2,105	8,399
’23	2,453	1,929	2,026	2,123	8,532
’22	2,239	1,948	1,956	2,352	8,494
’21	2,005	1,734	1,745	2,055	7,539
’20	1,783	1,499	1,592	1,796	6,670

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	804	808	—	—	—
’25	845	614	751	698	2,907
’24	569	587	984	693	2,833
’23	676	706	703	540	2,626
’22	642	589	458	675	2,365
’21	584	621	536	580	2,319
’20	440	509	553	514	2,016

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(324)	(383)	—	—	—
’25	(230)	(544)	(312)	(469)	(1,555)
’24	(256)	(214)	26	(532)	(975)
’23	(29)	(28)	(32)	(373)	(462)
’22	(81)	(98)	(240)	(190)	(608)
’21	(51)	(42)	(83)	(206)	(382)
’20	(427)	(22)	(150)	(401)	(999)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.72	0.56	—	—	—
’25	0.70	0.55	0.59	0.60	2.43
’24	0.69	0.49	0.62	0.56	2.36
’23	0.67	0.45	0.60	0.58	2.29
’22	0.58	0.46	0.52	0.57	2.14
’21	0.58	0.44	0.49	0.55	2.08
’20	0.50	0.42	0.47	0.55	2.00

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	24.63	30.53	30.88	32.85	28.59	38.49	34.76	36.30	36.86	40.32	Analyst estimates 2026–2028 Powerpack
	High	34.66	38.24	36.76	42.80	44.72	48.39	51.66	46.28	46.06	52.83
People
People	Employees	8,425	8,534	8,800	8,970	8,961	9,095	9,200	9,600	9,848	9,926
	Revenue/emp, $m	0.61	0.75	0.74	0.74	0.74	0.83	0.92	0.89	0.85	0.88
Income, $m
Income, $m	Revenue	5,164	6,403	6,473	6,619	6,670	7,539	8,494	8,532	8,399	8,710
	Gross margin, %	36.06	44.32	43.00	43.39	44.05	42.06	39.92	42.17	45.35	45.60
	EBT	648	1,321	1,119	1,613	1,209	1,308	1,387	1,533	1,587	1,685
	EBT margin, %	12.55	20.64	17.29	24.38	18.13	17.35	16.33	17.97	18.89	19.34
	Net income	538	868	992	1,396	1,037	1,121	1,165	1,267	1,334	1,403
	Depreciation	742	909	959	1,017	1,066	1,201	1,283	1,313	1,406	1,472
Per share, $
Per share, $	Revenue	16.72	15.41	15.24	15.15	14.35	16.01	17.75	17.54	16.97	17.30
	Earnings	1.43	1.79	1.97	2.86	2.00	2.09	2.14	2.29	2.36	2.43
	Cash flow	4.61	5.12	4.73	4.59	4.34	4.93	4.94	5.40	5.72	5.77
	Capex	(4.92)	(5.60)	(5.85)	(6.42)	(6.49)	(5.74)	(6.21)	(6.35)	(7.69)	(8.86)
	Free cash flow	(0.31)	(0.49)	(1.12)	(1.82)	(2.15)	(0.81)	(1.27)	(0.95)	(1.97)	(3.09)
	Book value	40.22	31.10	33.53	34.70	32.58	35.44	36.71	35.54	38.12	36.77
	Shares, m	309	416	425	437	465	471	479	486	495	504
Valuation, ×
Valuation, ×	P/E	21.64	20.33	16.60	14.22	20.93	23.32	19.01	17.84	17.61	21.29
	P/S	1.84	2.36	2.19	2.74	2.84	3.02	2.28	2.34	2.45	3.00
	P/B	0.85	1.30	1.09	1.30	1.36	1.48	1.19	1.24	1.16	1.51
	EV/Sales	5.12	4.90	5.07	5.33	5.60	5.74	4.89	4.89	5.36	5.82
	EV/FCF	(275.46)	(155.09)	(69.33)	(44.29)	(37.37)	(113.30)	(68.26)	(90.23)	(46.13)	(32.60)
Cash, $m
Cash, $m	Operating cash flow	1,423	2,126	2,009	2,007	2,016	2,319	2,365	2,626	2,833	2,907
	Capex	(1,519)	(2,328)	(2,483)	(2,803)	(3,015)	(2,702)	(2,973)	(3,088)	(3,808)	(4,462)
	Free cash flow	(96)	(202)	(474)	(797)	(999)	(382)	(608)	(462)	(975)	(1,555)
Balance, $m
Balance, $m	Working capital	(1,343)	(1,001)	(765)	(1,207)	(1,147)	(1,655)	(1,806)	(1,436)	(1,635)	(2,654)
	Total debt	17,130	16,478	18,929	17,420	18,536	20,678	22,308	22,216	24,561	24,784
	Net debt	16,927	16,226	18,673	17,141	18,350	20,573	22,147	21,753	24,401	24,521
	Shareholders’ equity	12,423	12,920	14,239	15,157	15,142	16,689	17,570	17,284	18,868	18,514
Returns, %
Returns, %	ROA	1.50	2.03	2.18	3.07	2.21	2.25	2.14	2.27	2.29	2.29
	ROIC	2.38	4.14	3.46	4.43	3.49	3.30	3.32	3.66	3.47	3.63
	ROE	4.94	6.50	6.88	9.27	6.48	6.70	6.45	6.89	6.94	7.00

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WEC WEC Energy Group, Inc.	$34.6B	21.0×	20.2×	+2.62% (above 0%: growing)	+19.48% (above 0%: growing)	−1,365.55% (below 0%: shrinking)	73.06%	20.99%	Compare
AEE Ameren Corporation	$28.7B	18.5×	20.3×	−5.81% (below 0%: shrinking)	+11.76% (above 0%: growing)	−51.22% (below 0%: shrinking)	73.90%	21.94%	Compare
PCG Pacific Gas & Electric Co.	$28.5B	9.5×	11.2×	+0.07% (above 0%: growing)	+37.50% (above 0%: growing)	−2.64% (below 0%: shrinking)	84.50%	21.40%	Compare
FTS Fortis	$27.9B	22.6×	21.5×	+4.02% (above 0%: growing)	+1.82% (above 0%: growing)	+29.48% (above 0%: growing)	45.92%	27.43%
DTE DTE Energy Company	$26.7B	20.5×	19.4×	−1.46% (below 0%: shrinking)	+22.73% (above 0%: growing)	−179.77% (below 0%: shrinking)	51.91%	13.59%	Compare
FE FirstEnergy Corporation	$26.4B	24.6×	16.8×	+8.82% (above 0%: growing)	+8.70% (above 0%: growing)	−143.84% (below 0%: shrinking)	64.30%	18.41%	Compare
CNP CenterPoint Energy, Inc.	$26.2B	23.9×	22.8×	+10.70% (above 0%: growing)	+23.33% (above 0%: growing)	−4.04% (below 0%: shrinking)	86.94%	24.81%	Compare
PPL PPL Corporation	$26.0B	20.7×	18.6×	+4.25% (above 0%: growing)	+24.00% (above 0%: growing)	−112.80% (below 0%: shrinking)	71.67%	22.50%	Compare
ES Eversource Energy	$24.9B	17.3×	15.4×	+2.29% (above 0%: growing)	−85.42% (below 0%: shrinking)	+398.93% (above 0%: growing)	67.64%	18.63%	Compare
Median of peers	$26.5B	20.6×	19.0×	+2.46%	+21.11%	−82.01%	72.37%	21.20%

All 40 Utilities Regulated Electric stocks →

Fortis (FTS) key facts

Strength: Fortis' revenue for fiscal 2025 (year ended December 2025) was $8.7 billion, up 3.71% from fiscal 2024.
Fortis (FTS) is an Utilities Regulated Electric company in the Utilities sector, listed on the New York Stock Exchange.
As of October 16, 2026, FTS traded at $55.76, a market capitalization of $27.9 billion.
Fortis pays an annual dividend of $1.85 per share, a yield of 3.31%, with a payout ratio of 74.8%.
Return on equity was 7.00% and debt-to-equity 1.32.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.80 (distress zone) for fiscal 2025.