Fortis (FTS) Financials

$48.17 +0.38 (+0.79%)

As of 03:51 PM Eastern

Annual Income Statements for Fortis

This table shows Fortis' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	1,115	1,141	983	963	948	1,275	806	765	435	526
Consolidated Net Income / (Loss)	1,269	1,295	1,119	1,100	1,089	1,427	942	894	531	607
Net Income / (Loss) Continuing Operations	1,269	1,295	1,119	1,100	1,089	1,427	942	894	531	607
Total Pre-Tax Income	1,510	1,568	1,332	1,283	1,270	1,650	1,063	1,361	638	769
Total Operating Income	2,286	2,336	2,025	1,932	1,966	2,341	1,733	1,995	1,104	1,026
Total Gross Profit	5,735	5,867	5,240	5,085	4,996	4,827	4,320	4,720	3,347	3,012
Total Revenue	7,992	8,724	8,161	7,395	7,004	6,769	6,148	6,597	5,089	4,886
Operating Revenue	7,992	8,724	8,161	7,395	7,004	6,769	6,148	6,597	5,089	4,886
Total Cost of Revenue	2,256	2,856	2,920	2,310	2,008	1,942	1,828	1,876	1,742	1,873
Operating Cost of Revenue	2,256	2,856	2,920	2,310	2,008	1,942	1,828	1,876	1,742	1,873
Total Operating Expenses	3,449	3,531	3,215	3,153	3,030	2,485	2,587	2,725	2,243	1,986
Depreciation Expense	1,338	1,343	1,233	1,178	1,119	1,040	911	937	732	631
Other Operating Expenses / (Income)	2,111	2,188	1,983	1,975	1,910	1,890	1,676	1,788	1,511	1,355
Total Other Income / (Expense), net	-776	-768	-692	-650	-696	-691	-670	-634	-465	-257
Interest Expense	976	988	814	785	817	798	714	726	505	400
Other Income / (Expense), net	200	220	122	135	121	106	44	92	39	142
Income Tax Expense	240	273	214	183	181	223	121	467	108	161
Preferred Stock Dividends Declared	51	51	47	49	51	52	48	52	56	56
Net Income / (Loss) Attributable to Noncontrolling Interest	103	104	89	87	90	100	88	77	39	25
Basic Earnings per Share	$2.25	$2.35	$2.78	$2.61	$2.60	$3.79	$1.90	$2.32	$1.89	$1.89
Weighted Average Basic Shares Outstanding	499.30M	490.59M	482.15M	474.76M	466.77M	463.27M	428.46M	421.14M	401.49M	-
Diluted Earnings per Share	$2.25	$2.35	$2.78	$2.61	$2.60	$3.78	$1.90	$2.31	$1.89	$1.87
Weighted Average Diluted Shares Outstanding	499.30M	490.59M	482.15M	474.76M	466.77M	463.27M	428.46M	421.14M	401.49M	-
Weighted Average Basic & Diluted Shares Outstanding	499.30M	490.59M	482.15M	474.76M	466.77M	463.27M	428.46M	421.14M	401.49M	-
Cash Dividends to Common per Share	$2.41	$2.31	$2.20	$2.08	$1.97	$1.86	$1.75	$1.65	$1.55	$1.43

No quarterly income statements for Fortis are available.

This table details how cash moves in and out of Fortis' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-281	315	58	-92	-95	18	15	46	20	8.68
Net Cash From Operating Activities	2,696	2,685	2,272	2,275	2,117	2,052	1,908	2,190	1,402	1,210
Net Cash From Continuing Operating Activities	2,696	2,685	2,272	2,275	2,117	2,052	1,908	2,190	1,415	1,210
Net Income / (Loss) Continuing Operations	1,269	1,295	1,119	1,100	1,089	1,427	942	894	531	607
Consolidated Net Income / (Loss)	1,269	1,295	1,119	1,100	1,089	1,427	942	894	531	607
Depreciation Expense	1,177	1,168	1,079	1,028	1,005	924	811	838	650	568
Amortization Expense	161	175	154	150	114	116	100	99	82	64
Non-Cash Adjustments To Reconcile Net Income	-97	-77	-58	-60	-61	-506	-47	-59	16	-170
Changes in Operating Assets and Liabilities, net	185	123	-22	58	-30	91	102	418	137	141
Net Cash From Investing Activities	-3,747	-2,834	-3,000	-2,730	-3,239	-2,133	-2,383	-2,404	-5,128	-989
Net Cash From Continuing Investing Activities	-3,747	-2,834	-3,000	-2,730	-3,239	-2,133	-2,383	-2,404	-5,128	-940
Purchase of Property, Plant & Equipment	-3,481	-3,019	-2,651	-2,496	-3,024	-2,697	-2,222	-2,235	-1,423	-1,541
Acquisitions	-143	-157	-279	-154	-143	-170	-136	-168	-3,713	-108
Divestitures	0.00	344	0.00	-	-	767	0.00	-	-	-
Other Investing Activities, net	-123	-2.27	-69	-80	-73	-33	-25	-0.79	-29	43
Net Cash From Financing Activities	739	464	765	353	1,040	119	472	269	3,758	-250
Net Cash From Continuing Financing Activities	739	464	765	353	1,040	119	472	269	3,758	-250
Repayment of Debt	-6,803	-6,519	-5,862	-4,137	-5,435	-5,767	-4,405	-6,704	-621	-885
Payment of Dividends	-644	-645	-593	-571	-718	-489	-447	-471	-328	-240
Issuance of Debt	8,154	7,595	7,181	5,014	7,148	5,263	5,299	6,999	3,810	832
Issuance of Common Equity	32	33	39	47	45	1,111	25	446	1,046	43
Effect of Exchange Rate Changes	31	0.00	21	9.39	-13	-20	18	-9.54	-12	38

No quarterly cash flow statements for Fortis are available.

This table presents Fortis' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	51,032	49,932	47,482	45,127	43,492	41,157	38,875	38,003	35,648	20,827
Total Current Assets	2,636	3,049	3,155	2,135	2,048	1,984	2,390	1,754	1,612	1,343
Cash & Equivalents	153	473	154	103	195	285	243	260	200	175
Accounts Receivable	1,310	1,377	1,728	1,183	1,073	1,000	994	899	839	697
Inventories, net	476	429	488	374	331	304	292	292	277	244
Prepaid Expenses	126	114	108	91	80	68	62	63	63	49
Other Current Assets	572	656	675	385	368	328	237	241	233	178
Plant, Property, & Equipment, net	34,344	32,862	30,789	29,597	28,219	26,194	24,004	23,577	21,832	14,168
Total Noncurrent Assets	14,051	14,021	13,538	13,395	13,225	12,980	12,481	12,673	12,205	5,316
Goodwill	9,106	9,229	9,211	9,173	9,244	9,251	9,182	9,253	9,201	3,017
Intangible Assets	1,153	1,144	1,144	1,051	1,012	971	879	859	752	391
Other Noncurrent Operating Assets	3,792	3,648	3,184	3,171	2,969	2,757	2,420	2,560	2,252	1,907
Total Liabilities & Shareholders' Equity	51,032	49,932	47,482	45,127	43,492	41,157	38,875	38,003	35,648	20,827
Total Liabilities	33,078	32,259	30,602	28,757	27,591	25,657	25,350	24,693	23,407	13,341
Total Current Liabilities	4,192	4,517	4,890	3,758	3,252	3,218	3,116	2,785	2,935	1,907
Short-Term Debt	1,450	1,829	2,020	1,467	1,086	926	907	764	1,103	666
Accounts Payable	2,328	2,251	2,430	2,011	1,819	1,851	1,677	1,631	1,466	1,026
Other Current Liabilities	413	437	440	279	346	441	481	389	366	215
Total Noncurrent Liabilities	28,887	27,741	25,712	24,999	24,340	22,438	22,235	21,909	20,472	11,434
Long-Term Debt	21,683	20,629	19,163	18,554	18,118	16,570	16,970	16,443	15,491	7,797
Asset Retirement Reserve & Litigation Obligation	2,567	2,561	2,453	2,242	2,087	2,147	2,176	2,349	1,258	969
Noncurrent Deferred & Payable Income Tax Liabilities	3,486	3,332	3,000	2,839	2,621	2,288	1,968	1,826	2,428	1,482
Other Noncurrent Operating Liabilities	1,151	1,219	1,095	1,363	1,513	1,433	834	962	952	833
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Equity & Noncontrolling Interests	17,953	17,673	16,880	16,370	15,901	15,501	13,524	13,310	12,241	7,486
Total Preferred & Common Equity	16,533	16,289	15,541	15,096	14,657	14,281	12,115	11,923	10,863	7,144
Preferred Stock	1,127	1,229	1,199	1,270	1,272	1,251	1,189	1,290	1,208	1,316
Total Common Equity	15,406	15,060	14,342	13,826	13,384	13,031	10,926	10,633	9,655	5,828
Common Stock	10,831	11,451	10,838	11,151	10,841	10,524	8,720	9,212	8,018	4,252
Retained Earnings	3,140	3,115	2,759	2,706	2,516	2,247	1,526	1,372	1,083	1,004
Accumulated Other Comprehensive Income / (Loss)	1,435	495	745	-31	27	259	680	48	554	572
Noncontrolling Interest	1,420	1,384	1,339	1,274	1,244	1,219	1,409	1,388	1,379	342

No quarterly balance sheets for Fortis are available.

This table displays calculated financial ratios and metrics derived from Fortis' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-8.39%	6.90%	10.36%	5.57%	3.48%	10.10%	-6.80%	29.64%	4.15%	0.00%
EBITDA Growth	-1.93%	15.39%	4.12%	1.23%	-8.08%	29.77%	-11.13%	61.35%	4.16%	0.00%
EBIT Growth	-2.75%	19.08%	3.82%	-0.91%	-14.74%	37.74%	-14.88%	82.64%	-2.17%	0.00%
NOPAT Growth	-0.39%	13.50%	2.64%	-1.73%	-16.77%	31.86%	17.20%	42.90%	13.11%	0.00%
Net Income Growth	-1.99%	15.77%	1.75%	0.99%	-23.71%	51.46%	5.41%	68.50%	-12.64%	0.00%
EPS Growth	-4.18%	-15.54%	6.51%	0.38%	-31.22%	45.95%	-17.84%	22.22%	0.92%	0.00%
Operating Cash Flow Growth	0.40%	18.20%	-0.16%	7.46%	3.17%	7.55%	-12.88%	56.22%	15.90%	0.00%
Free Cash Flow Firm Growth	259.19%	122.14%	-70.81%	154.14%	-307.86%	-79.24%	499.41%	97.51%	0.00%	0.00%
Invested Capital Growth	3.22%	4.62%	4.46%	3.95%	6.72%	5.75%	1.14%	5.55%	79.70%	0.00%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.77%	67.26%	64.21%	68.77%	71.33%	71.31%	70.26%	71.56%	65.76%	61.65%
EBITDA Margin	47.85%	44.70%	41.41%	43.89%	45.78%	51.53%	43.72%	45.85%	36.84%	36.84%
Operating Margin	28.61%	26.78%	24.81%	26.13%	28.07%	34.59%	28.19%	30.25%	21.69%	21.00%
EBIT Margin	31.11%	29.30%	26.31%	27.96%	29.79%	36.16%	28.90%	31.65%	22.46%	23.92%
Profit (Net Income) Margin	15.88%	14.85%	13.71%	14.87%	15.55%	21.09%	15.33%	13.55%	10.43%	12.43%
Tax Burden Percent	84.08%	82.61%	83.97%	85.72%	85.74%	86.50%	88.63%	65.67%	83.10%	79.02%
Interest Burden Percent	60.73%	61.33%	62.07%	62.04%	60.86%	67.41%	59.84%	65.21%	55.86%	65.78%
Effective Tax Rate	15.92%	17.39%	16.03%	14.28%	14.26%	13.50%	11.37%	34.33%	16.90%	20.98%
Return on Invested Capital (ROIC)	4.77%	4.98%	4.58%	4.65%	4.99%	6.36%	4.99%	4.40%	4.07%	5.03%
ROIC Less NNEP Spread (ROIC-NNEP)	1.87%	2.03%	1.74%	1.79%	1.69%	2.91%	1.57%	1.95%	1.02%	2.67%
Return on Net Nonoperating Assets (RNNOA)	2.36%	2.52%	2.15%	2.16%	1.95%	3.47%	2.03%	2.60%	1.31%	3.09%
Return on Equity (ROE)	7.13%	7.50%	6.73%	6.82%	6.94%	9.84%	7.02%	7.00%	5.38%	8.11%
Cash Return on Invested Capital (CROIC)	1.60%	0.46%	0.22%	0.78%	-1.52%	0.78%	3.86%	-1.00%	-52.92%	0.00%
Operating Return on Assets (OROA)	4.92%	5.25%	4.64%	4.67%	4.93%	6.12%	4.62%	5.67%	4.05%	5.61%
Return on Assets (ROA)	2.51%	2.66%	2.42%	2.48%	2.57%	3.57%	2.45%	2.43%	1.88%	2.92%
Return on Common Equity (ROCE)	6.09%	6.38%	5.70%	5.75%	5.83%	8.12%	5.64%	5.56%	4.22%	6.32%
Return on Equity Simple (ROE_SIMPLE)	7.68%	7.95%	7.20%	7.28%	7.43%	9.99%	7.78%	7.50%	4.88%	8.50%
Net Operating Profit after Tax (NOPAT)	1,922	1,930	1,700	1,656	1,686	2,025	1,536	1,310	917	811
NOPAT Margin	24.05%	22.12%	20.84%	22.40%	24.07%	29.92%	24.98%	19.87%	18.02%	16.59%
Net Nonoperating Expense Percent (NNEP)	2.90%	2.95%	2.84%	2.86%	3.30%	3.45%	3.42%	2.45%	3.05%	2.35%
Return On Investment Capital (ROIC_SIMPLE)	4.68%	4.81%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	28.23%	32.74%	35.79%	31.23%	28.67%	28.69%	29.74%	28.44%	34.24%	38.35%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.16%	40.48%	39.40%	42.63%	43.26%	36.72%	42.07%	41.31%	44.08%	40.65%
Earnings before Interest and Taxes (EBIT)	2,486	2,556	2,147	2,068	2,087	2,448	1,777	2,088	1,143	1,168
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,824	3,899	3,379	3,246	3,206	3,488	2,688	3,025	1,875	1,800
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.32	1.26	1.27	1.51	1.26	1.17	1.04	1.10	0.00	0.00
Price to Tangible Book Value (P/TBV)	3.96	4.04	4.58	5.79	5.39	5.45	13.19	22.56	0.00	0.00
Price to Revenue (P/Rev)	2.55	2.17	2.24	2.82	2.41	2.26	1.86	1.78	0.00	0.00
Price to Earnings (P/E)	18.29	16.61	18.58	21.64	17.80	12.00	14.15	15.34	0.00	0.00
Dividend Yield	4.19%	4.30%	4.35%	3.66%	3.98%	3.84%	4.93%	4.28%	1.25%	0.00%
Earnings Yield	5.47%	6.02%	5.38%	4.62%	5.62%	8.33%	7.07%	6.52%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.12	1.10	1.10	1.19	1.10	1.07	1.03	1.04	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	5.75	4.99	5.13	5.86	5.48	5.17	5.19	4.80	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	12.01	11.17	12.38	13.35	11.97	10.03	11.88	10.48	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	18.47	17.03	19.48	20.95	18.40	14.29	17.97	15.18	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	23.89	22.56	24.60	26.15	22.77	17.28	20.79	24.18	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	17.03	16.22	18.41	19.04	18.13	17.05	16.73	14.47	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	71.02	241.86	516.12	156.03	0.00	141.81	26.87	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	1.27	1.25	1.22	1.21	1.13	1.34	1.32	1.38	1.18
Long-Term Debt to Equity	1.21	1.17	1.14	1.13	1.14	1.07	1.28	1.26	1.29	1.09
Financial Leverage	1.26	1.24	1.23	1.21	1.15	1.19	1.29	1.33	1.29	1.15
Leverage Ratio	2.83	2.82	2.79	2.75	2.70	2.76	2.86	2.88	2.86	2.78
Compound Leverage Factor	1.72	1.73	1.73	1.70	1.64	1.86	1.71	1.88	1.60	1.83
Debt to Total Capital	56.30%	55.96%	55.65%	55.02%	54.71%	53.02%	57.32%	56.85%	58.05%	54.08%
Short-Term Debt to Total Capital	3.53%	4.56%	5.31%	4.03%	3.09%	2.81%	2.86%	2.48%	3.78%	4.09%
Long-Term Debt to Total Capital	52.77%	51.40%	50.34%	50.99%	51.61%	50.22%	54.46%	54.37%	54.27%	49.99%
Preferred Equity to Total Capital	2.74%	3.06%	3.15%	3.49%	3.62%	3.79%	3.75%	4.18%	4.14%	8.07%
Noncontrolling Interests to Total Capital	3.46%	3.45%	3.52%	3.50%	3.54%	3.69%	4.45%	4.50%	4.73%	2.10%
Common Equity to Total Capital	37.50%	37.53%	37.68%	37.99%	38.13%	39.49%	34.48%	34.47%	33.09%	35.75%
Debt to EBITDA	6.05	5.76	6.27	6.17	5.99	5.02	6.76	5.80	9.03	4.90
Net Debt to EBITDA	6.01	5.64	6.22	6.14	5.93	4.93	6.67	5.71	8.93	4.80
Long-Term Debt to EBITDA	5.67	5.29	5.67	5.72	5.65	4.75	6.42	5.55	8.45	4.53
Debt to NOPAT	12.03	11.64	12.46	12.09	11.39	8.64	11.83	13.38	18.47	10.87
Net Debt to NOPAT	11.95	11.39	12.37	12.03	11.28	8.50	11.67	13.18	18.25	10.66
Long-Term Debt to NOPAT	11.28	10.69	11.27	11.20	10.75	8.18	11.23	12.80	17.27	10.05
Altman Z-Score	0.74	0.75	0.72	0.79	0.73	0.76	0.61	0.66	0.00	0.00
Noncontrolling Interest Sharing Ratio	14.48%	14.91%	15.29%	15.68%	15.88%	17.46%	19.66%	20.60%	21.52%	22.15%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.63	0.67	0.65	0.57	0.63	0.62	0.77	0.63	0.55	0.70
Quick Ratio	0.35	0.41	0.39	0.34	0.39	0.40	0.40	0.42	0.35	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	647	180	81	278	-513	247	1,188	-297	-11,935	0.00
Operating Cash Flow to CapEx	77.45%	88.94%	85.70%	91.16%	70.03%	76.11%	85.88%	97.97%	101.18%	138.38%
Free Cash Flow to Firm to Interest Expense	0.66	0.18	0.10	0.35	-0.63	0.31	1.66	-0.41	-23.65	0.00
Operating Cash Flow to Interest Expense	2.76	2.72	2.79	2.90	2.59	2.57	2.67	3.02	2.78	3.03
Operating Cash Flow Less CapEx to Interest Expense	-0.80	-0.34	-0.47	-0.28	-1.11	-0.81	-0.44	-0.06	0.03	0.84
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.18	0.18	0.17	0.17	0.17	0.16	0.18	0.18	0.23
Accounts Receivable Turnover	5.95	5.62	5.61	6.56	6.76	6.79	6.50	7.59	6.63	7.01
Inventory Turnover	4.99	6.23	6.77	6.55	6.33	6.52	6.27	6.60	6.69	7.69
Fixed Asset Turnover	0.24	0.27	0.27	0.26	0.26	0.27	0.26	0.29	0.28	0.34
Accounts Payable Turnover	0.99	1.22	1.32	1.21	1.09	1.10	1.11	1.21	1.40	1.83
Days Sales Outstanding (DSO)	61.36	64.97	65.10	55.67	54.01	53.76	56.20	48.07	55.08	52.07
Days Inventory Outstanding (DIO)	73.16	58.60	53.90	55.70	57.65	55.94	58.22	55.30	54.53	47.47
Days Payable Outstanding (DPO)	370.43	299.08	277.53	302.71	333.55	331.57	330.29	301.29	261.06	199.90
Cash Conversion Cycle (CCC)	-235.92	-175.51	-158.53	-191.33	-221.89	-221.87	-215.87	-197.93	-151.46	-100.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	40,934	39,658	37,909	36,289	34,911	32,712	30,933	30,586	28,978	16,126
Invested Capital Turnover	0.20	0.22	0.22	0.21	0.21	0.21	0.20	0.22	0.23	0.30
Increase / (Decrease) in Invested Capital	1,276	1,750	1,619	1,379	2,199	1,779	348	1,608	12,852	0.00
Enterprise Value (EV)	45,922	43,541	41,825	43,317	38,392	34,987	31,928	31,694	0.00	0.00
Market Capitalization	20,394	18,943	18,258	20,853	16,865	15,305	11,409	11,741	0.00	0.00
Book Value per Share	$31.40	$31.23	$30.21	$29.62	$28.89	$30.41	$25.94	$26.48	$24.05	$0.00
Tangible Book Value per Share	$10.49	$9.72	$8.40	$7.72	$6.75	$6.55	$2.05	$1.30	($0.74)	$0.00
Total Capital	41,087	40,132	38,063	36,392	35,106	32,997	31,688	30,846	29,178	16,301
Total Debt	23,133	22,459	21,183	20,022	19,205	17,497	18,163	17,535	16,936	8,815
Total Long-Term Debt	21,683	20,629	19,163	18,554	18,118	16,570	17,256	16,772	15,834	8,149
Net Debt	22,981	21,985	21,029	19,919	19,010	17,211	17,920	17,276	16,736	8,640
Capital Expenditures (CapEx)	3,481	3,019	2,651	2,496	3,024	2,697	2,222	2,235	1,386	874
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-258	-113	131	-258	-313	-593	-62	-527	-420	-74
Debt-free Net Working Capital (DFNWC)	-106	361	285	-156	-118	-308	181	-267	-220	101
Net Working Capital (NWC)	-1,556	-1,469	-1,735	-1,623	-1,204	-1,235	-726	-1,031	-1,323	-565
Net Nonoperating Expense (NNE)	653	634	581	557	597	598	594	416	387	203
Net Nonoperating Obligations (NNO)	22,981	21,985	21,029	19,919	19,010	17,211	17,409	17,276	16,736	8,640
Total Depreciation and Amortization (D&A)	1,338	1,343	1,233	1,178	1,119	1,040	911	937	732	631
Debt-free, Cash-free Net Working Capital to Revenue	-3.23%	-1.29%	1.60%	-3.49%	-4.47%	-8.77%	-1.01%	-7.99%	-8.26%	-1.51%
Debt-free Net Working Capital to Revenue	-1.32%	4.13%	3.50%	-2.11%	-1.68%	-4.55%	2.94%	-4.05%	-4.33%	2.07%
Net Working Capital to Revenue	-19.46%	-16.84%	-21.26%	-21.95%	-17.19%	-18.24%	-11.81%	-15.62%	-26.00%	-11.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.25	$3.10	$2.78	$2.61	$2.60	$3.79	$2.59	$2.32	$1.41	$0.00
Adjusted Weighted Average Basic Shares Outstanding	499.30M	490.59M	482.15M	474.76M	466.77M	463.27M	428.46M	421.14M	401.49M	0.00
Adjusted Diluted Earnings per Share	$2.25	$3.10	$2.78	$2.61	$2.60	$3.78	$2.59	$2.31	$1.41	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	499.30M	490.59M	482.15M	474.76M	466.77M	463.27M	428.46M	421.14M	401.49M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	499.30M	490.59M	482.15M	474.76M	466.77M	463.27M	428.46M	421.14M	401.49M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	1,922	1,930	1,700	1,656	1,686	1,641	1,536	1,310	917	811
Normalized NOPAT Margin	24.05%	22.12%	20.84%	22.40%	24.07%	24.24%	24.98%	19.87%	18.02%	16.59%
Pre Tax Income Margin	18.89%	17.97%	16.33%	17.35%	18.13%	24.38%	17.29%	20.64%	12.55%	15.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.55	2.59	2.64	2.63	2.55	3.07	2.49	2.87	2.27	2.92
NOPAT to Interest Expense	1.97	1.95	2.09	2.11	2.06	2.54	2.15	1.80	1.82	2.03
EBIT Less CapEx to Interest Expense	-1.02	-0.47	-0.62	-0.55	-1.15	-0.31	-0.62	-0.20	-0.48	0.74
NOPAT Less CapEx to Interest Expense	-1.60	-1.10	-1.17	-1.07	-1.64	-0.84	-0.96	-1.27	-0.93	-0.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	50.77%	49.77%	53.04%	51.89%	65.95%	34.23%	47.43%	52.71%	61.85%	39.52%
Augmented Payout Ratio	50.77%	49.77%	53.04%	51.89%	65.95%	34.23%	47.43%	52.71%	61.85%	39.52%

No quarterly metrics and ratios for Fortis are available.

Frequently Asked Questions About Fortis' Financials

When does Fortis's financial year end?

According to the most recent income statement we have on file, Fortis' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Fortis' net income changed over the last 9 years?

Fortis' net income appears to be on an upward trend, with a most recent value of $1.27 billion in 2024, rising from $607.36 million in 2015. The previous period was $1.30 billion in 2023. See Fortis' forecast for analyst expectations on what’s next for the company.

What is Fortis's operating income?

Fortis's total operating income in 2024 was $2.29 billion, based on the following breakdown:

Total Gross Profit: $5.74 billion
Total Operating Expenses: $3.45 billion

How has Fortis revenue changed over the last 9 years?

Over the last 9 years, Fortis' total revenue changed from $4.89 billion in 2015 to $7.99 billion in 2024, a change of 63.6%.

How much debt does Fortis have?

Fortis' total liabilities were at $33.08 billion at the end of 2024, a 2.5% increase from 2023, and a 147.9% increase since 2015.

How much cash does Fortis have?

In the past 9 years, Fortis' cash and equivalents has ranged from $102.53 million in 2021 to $473.41 million in 2023, and is currently $152.78 million as of their latest financial filing in 2024.

How has Fortis' book value per share changed over the last 9 years?

Over the last 9 years, Fortis' book value per share changed from 0.00 in 2015 to 31.40 in 2024, a change of 3,140.4%.

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This page (NYSE:FTS) was last updated on 5/21/2025 by MarketBeat.com Staff

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