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FTS

Fortis Inc.

FTS

Fortis Inc. • NYSE
$52.53 ▲ 0.19% (+0.10)
Market Cap $26.54 B
52w High $52.83
52w Low $40.32
Dividend Yield 1.77%
P/E 21.89
Volume 138.63K
Outstanding Shares 505.19M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.109B ▼ $0 ▼ $309.458M ▼ 14.67% ▲ $0.58 ▼ $1.053B ▼
Q2-2025 $2.815B ▼ $1.301B ▼ $404M ▼ 14.352% ▼ $0.77 ▼ $1.417B ▼
Q1-2025 $3.338B ▲ $1.345B ▲ $520M ▲ 15.578% ▲ $1 ▲ $1.559B ▲
Q4-2024 $2.949B ▲ $1.295B ▲ $415M ▼ 14.073% ▼ $0.8 ▼ $1.412B ▲
Q3-2024 $2.771B $1.22B $439M 15.843% $0.85 $1.396B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $389M ▲ $74.503B ▲ $48.25B ▲ $24.201B ▲
Q2-2025 $221M ▼ $72.789B ▼ $47.195B ▼ $23.626B ▼
Q1-2025 $510M ▲ $74.718B ▲ $48.525B ▲ $24.135B ▲
Q4-2024 $220M ▼ $73.486B ▲ $47.633B ▲ $23.808B ▲
Q3-2024 $896M $69.642B $45.249B $22.499B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $431M ▼ $1.027B ▲ $-1.081B ▲ $220M ▼ $168M ▲ $-335M ▲
Q2-2025 $444M ▼ $804M ▼ $-1.51B ▼ $437M ▼ $-289M ▼ $-740M ▼
Q1-2025 $558M ▲ $1.213B ▲ $-1.425B ▲ $499M ▲ $290M ▲ $-330M ▲
Q4-2024 $451M ▲ $962M ▼ $-1.796B ▼ $125M ▼ $-676M ▼ $-731M ▼
Q3-2024 $439M $1.338B $-1.313B $316M $335M $90M

Revenue by Products

Product Q2-2019Q2-2021Q2-2022Q2-2023
Central Hudson Gas and Electric Corporation
Central Hudson Gas and Electric Corporation
 $200.00M ▲$210.00M ▲$280.00M ▲$320.00M ▲
Corporate and Other
Corporate and Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Energy Infrastructure
Energy Infrastructure
 $30.00M ▲$10.00M ▼$30.00M ▲$20.00M ▼
Fortis Alberta Inc
Fortis Alberta Inc
 $150.00M ▲$160.00M ▲$170.00M ▲$180.00M ▲
Fortis BC Energy Inc
Fortis BC Energy Inc
 $230.00M ▲$320.00M ▲$400.00M ▲$360.00M ▼
FortisBC Inc
FortisBC Inc
 $90.00M ▲$110.00M ▲$110.00M ▲$120.00M ▲
ITC Holdings Corp
ITC Holdings Corp
 $430.00M ▲$420.00M ▼$470.00M ▲$520.00M ▲
Other Electric
Other Electric
 $340.00M ▲$350.00M ▲$380.00M ▲$420.00M ▲
UNS Energy Corporation
UNS Energy Corporation
 $500.00M ▲$560.00M ▲$650.00M ▲$660.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Fortis shows a steady, predictable earnings profile. Revenue has grown modestly over time and now looks fairly stable, while profit measures have generally trended upward. Operating profit and cash-style earnings have improved gradually, which suggests tight cost control and a supportive regulatory environment. Net income and earnings per share have also risen at a measured pace, signaling consistent, if unspectacular, growth. One year of weaker gross profit stands out as a possible one‑off or accounting impact rather than a structural issue, since operating and net results kept improving afterward.

Balance Sheet

Balance Sheet The balance sheet reflects a typical regulated utility profile: very large assets funded by a mix of substantial debt and meaningful shareholder equity. Both assets and equity have been growing, which points to ongoing investment in infrastructure and a business that is still expanding. Debt levels are high in absolute terms but broadly in line with what is common for regulated utilities that earn allowed returns on their capital base. The key story here is a capital‑intensive model supported by regulated frameworks, rather than a light, flexible balance sheet.

Cash Flow

Cash Flow Cash generation from operations has been increasing steadily, which is a positive sign of underlying business health. However, Fortis is spending heavily on capital projects, so free cash flow is consistently negative. This pattern is typical for a growth‑oriented utility that is building and upgrading networks, renewable generation, and storage. In practice, it means the company relies on external funding—debt and equity—to bridge the gap between internal cash and its ambitious investment program.

Competitive Edge

Competitive Edge Fortis’s core strength is its regulated utility model, spread across many jurisdictions in Canada, the U.S., and the Caribbean. This provides stability, predictable earnings, and reduces exposure to swings in power prices and economic cycles. Its diversification across regions and regulators helps balance local risks, while its long track record of dependable operations supports strong relationships with regulators and communities. Compared with peers that take more market-exposed bets, Fortis is positioned as a steady, regulation‑anchored operator focused on reliability and incremental growth rather than aggressive expansion.

Innovation and R&D

Innovation and R&D Innovation at Fortis is practical and infrastructure‑focused rather than flashy. The company is modernizing its grids with smart meters and advanced control systems, integrating more wind and solar, and rolling out battery storage to support reliability. It has also developed a niche strength in partnering with Indigenous communities on major transmission projects. On the gas side, Fortis is experimenting with renewable natural gas, hybrid heating systems, and early‑stage hydrogen technologies. Through its transmission subsidiary, it is well placed to benefit from long‑term grid expansion driven by the energy transition and rising power needs, including from data centers and AI.

Summary

Overall, Fortis comes across as a conservative, steady utility built around regulated earnings and long‑lived assets. Financial performance has been gradually improving, underpinned by stable revenue, rising profits, and growing cash from operations. The trade‑off is heavy capital spending and ongoing reliance on external financing, reflecting a long‑term build‑and‑earn model. Competitively, its diversified, regulated footprint and pragmatic approach to grid modernization, renewables, storage, and gas decarbonization give it a durable, low‑drama profile in a sector that is changing but still values reliability above all else.

NEWS

November 21, 2025 · 9:00 AM UTC

Fortis Construction Appoints Michele Leiva and Briston Blair to Board of Directors Amid Continued Growth

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November 4, 2025 · 6:00 AM UTC

Fortis Inc. Releases Third Quarter 2025 Results, New Five-Year Capital Outlook and 4% Increase in Fourth Quarter Dividend

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October 27, 2025 · 4:35 PM UTC

Advisory: Fortis Inc. to Hold Teleconference on November 4 to Discuss Third Quarter 2025 Results and New Five-Year Capital Outlook

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September 30, 2025 · 6:00 AM UTC

Fortis Inc. to Hold Teleconference on November 4 to Discuss Third Quarter 2025 Results and New Five-Year Capital Outlook

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September 4, 2025 · 10:17 AM UTC

Fortis Inc. Announces Closing of Offering of Fixed-To-Fixed Rate Subordinated Notes

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