FTS Financials Fortis Inc.

11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 29 h ago 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 ($34.3B) exceeds cash ($367M); net debt is $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

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	FCF	Total debt	Cash
2025	$11.9B	$2.0B	71.7%	29.3%	-$1.9B	$34.3B	$367M
2024	$11.2B	$1.8B	71.1%	29.3%	-$1.1B	$33.3B	$220M
2023	$11.2B	$1.7B	66.2%	27.6%	-$441M	$29.6B	$625M
2022	$10.9B	$1.5B	63.8%	25.1%	-$513M	$28.7B	$209M
2021	$9.3B	$1.4B	68.1%	26.7%	-$282M	$25.6B	$131M
2020	$8.7B	$1.4B	70.7%	28.7%	-$1.2B	$24.5B	$249M
2019	$8.6B	$1.9B	70.7%	35.3%	-$836M	$22.7B	$370M
2018	$8.3B	$1.3B	70.0%	28.4%	-$428M	$24.1B	$332M
2017	$8.2B	$1.1B	71.2%	30.6%	-$57M	$21.6B	$327M
2016	—	$713M	—	—	-$28M	$22.2B	$269M
2015	—	$840M	—	—	-$458M	$11.7B	$242M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Jun '25	—	$444M	—	—	-$675M	$33.5B	$221M
Jun '24	—	$387M	—	—	-$250M	$31.4B	$561M
Jun '23	—	$346M	—	—	$6M	$29.2B	$690M
Jun '22	—	$330M	—	—	-$68M	$26.7B	$338M
Jun '21	—	$296M	—	—	-$11M	$24.9B	$599M
Jun '20	—	$324M	—	—	$0	$24.6B	$380M
Jun '19	—	$765M	—	—	-$183M	$22.9B	$191M
Jun '18	$1.9B	$292M	73.9%	29.8%	-$42M	$22.7B	$197M
Jun '17	$2.0B	$312M	0.0%	31.5%	-$5M	$21.7B	$231M
Jun '16	—	$142M	—	—	$40M	—	$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 14.1× (Mar '23) to 14.8× (Jun '26).
The price-to-sales ratio has risen from 2.0× (Mar '23) to 2.4× (Jun '26).
The dividend yield has fallen from 3.1% (Mar '23) to 2.7% (Jun '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 $34.3B of total debt against $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?

As of Jun '26, Fortis Inc. traded at a price-to-earnings ratio of about 14.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (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 (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.