FTS Financials Fortis Inc.

11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings, in CAD as reported — with a computed, factual read of the trend. Updated Oct 16, 2026, 09:53 UTC Overview →

Growth & profitability

Revenue has grown 6.4% per year over the past 5 years.
Net income has grown faster than revenue (7.1% vs 6.4% per year).
Operating margin has been roughly flat, at 29.3% in the latest year.

Financial health

Total debt (CA$34.3B) exceeds cash (CA$367M); net debt is CA$33.9B.
Total debt has grown in line with revenue (7.0% vs 6.4% per year).
Operating income covered interest expense 2.4× in the latest year.
Total debt is 6.2× EBITDA.

Shareholder returns

Dividends have been paid for 11 consecutive years, consuming 40.2% of earnings.
The dividend has grown 0.1% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	CA$11.9B	CA$2.0B	71.7%	29.3%	8.2%	2.6%	-CA$1.9B	CA$34.3B	CA$367M
2024	CA$11.2B	CA$1.8B	71.1%	29.3%	7.7%	2.5%	-CA$1.1B	CA$33.3B	CA$220M
2023	CA$11.2B	CA$1.7B	66.2%	27.6%	8.0%	2.6%	-CA$441M	CA$29.6B	CA$625M
2022	CA$10.9B	CA$1.5B	63.8%	25.1%	7.2%	2.4%	-CA$513M	CA$28.7B	CA$209M
2021	CA$9.3B	CA$1.4B	68.1%	26.7%	7.3%	2.4%	-CA$282M	CA$25.6B	CA$131M
2020	CA$8.7B	CA$1.4B	70.7%	28.7%	7.4%	2.5%	-CA$1.2B	CA$24.5B	CA$249M
2019	CA$8.6B	CA$1.9B	70.7%	35.3%	10.0%	3.5%	-CA$836M	CA$22.7B	CA$370M
2018	CA$8.3B	CA$1.3B	70.0%	28.4%	7.8%	2.4%	-CA$428M	CA$24.1B	CA$332M
2017	CA$8.2B	CA$1.1B	71.2%	30.6%	7.5%	2.4%	-CA$57M	CA$21.6B	CA$327M
2016	—	CA$713M	—	—	4.9%	1.5%	-CA$28M	CA$22.2B	CA$269M
2015	—	CA$840M	—	—	8.5%	2.9%	-CA$458M	CA$11.7B	CA$242M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '25	—	CA$444M	—	—	1.9%	0.6%	-CA$675M	CA$33.5B	CA$221M
Jun '24	—	CA$387M	—	—	1.7%	0.6%	-CA$250M	CA$31.4B	CA$561M
Jun '23	—	CA$346M	—	—	1.6%	0.5%	CA$6M	CA$29.2B	CA$690M
Jun '22	—	CA$330M	—	—	1.6%	0.6%	-CA$68M	CA$26.7B	CA$338M
Jun '21	—	CA$296M	—	—	1.6%	0.5%	-CA$11M	CA$24.9B	CA$599M
Jun '20	—	CA$324M	—	—	1.7%	0.6%	CA$0	CA$24.6B	CA$380M
Jun '19	—	CA$765M	—	—	4.4%	1.5%	-CA$183M	CA$22.9B	CA$191M
Jun '18	CA$1.9B	CA$292M	73.9%	29.8%	1.8%	0.6%	-CA$42M	CA$22.7B	CA$197M
Jun '17	CA$2.0B	CA$312M	0.0%	31.5%	2.0%	0.7%	-CA$5M	CA$21.7B	CA$231M
Jun '16	—	CA$142M	—	—	—	0.5%	CA$40M	—	CA$296M

Valuation over time

How the market has priced FTS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 19.3× (Mar '23) to 21.6× (Nov '26).
The price-to-sales ratio has risen from 2.7× (Mar '23) to 3.6× (Nov '26).
The dividend yield has fallen from 2.3% (Mar '23) to 1.9% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is FTS growing its revenue and profit?

Over the past 5 years, Fortis Inc.'s revenue has grown 6.4% per year, and net income grown 7.1% per year. These are computed facts, not advice.

How much debt does FTS have?

As of FY2025, Fortis Inc. reported CA$34.3B of total debt against CA$367M of cash; operating income covered interest expense 2.4×.

What is FTS's profit margin?

In FY2025, gross margin was 71.7%, operating margin 29.3%, and net margin 16.5%.

What is FTS's P/E ratio?

Fortis Inc.'s P/E (TTM) is 21.55 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the FTS stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 21.6× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — its annual and interim reports, in CAD as reported (valuation multiples convert at the Federal Reserve H.10 rate of each date, via FRED) (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (annual and interim filings, reported in CAD) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · FX: Federal Reserve H.10 via FRED (DEXCAUS; 1 CAD = 0.7165 USD on 2026-10-30), the rate of each date for the valuation history · This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.