FTSNYSEElectric ServicesFiscal year ends December 31Also trades as FINCF, FORFF, FRTJF, FRTSF, FTPSF, FTRSF
Fortis Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Feb 12, 2026
$54.90−0.86 (-1.54%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
72.3%+1.0 pts over 5 years
Operating margin
28.7%+0.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +5.8% | +3.3% | +6.4% | +6.1% | |
| Gross profit | +6.5% | +7.5% | +6.7% | – | |
| Operating income | +6.1% | +8.4% | +6.8% | +9.4% | |
| EPS, diluted | +4.9% | +6.9% | +5.5% | +2.8% | |
| Dividend per share | +4.1% | +4.5% | +5.0% | +5.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Current ratio | 0.55 | 0.63 | 0.51 | |
| Debt to equity | 1.52 | 1.31 | 1.44 | |
| Net debt to EBITDA | 8.90× | 6.16× | 6.11× | |
| Interest coverage | 2.2× | 2.4× | 2.4× | |
| Capex to revenue | 28.0% | 43.2% | 48.8% | |
| Diluted shares | 313M | 465M | 504M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Fortis generated C$17.47B from operations and spent C$25.23B on capital expenditure, dividends and share buybacks. 86% of that went back into the business.
Generated
C$17.47B
Used
C$25.23B
Capital expenditureC$21.72B86%DividendsC$3.51B14%Share buybacksC$00%
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zeroC$4.06B
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net incomeC$4.06B vs –
- Less leverageLong-term debt to assets fell42.5% → 41.1%
- Better liquidityCurrent ratio rose0.63 → 0.51
- No dilutionShare count did not rise495M → 504M
- Gross margin improvedGross margin up on the prior year71.77% → 72.30%
- More efficientAsset turnover rose0.17 → 0.17