Fortis (FTS) Financials

$56.50 +0.27 (+0.47%)

Closing price 05/22/2026 03:59 PM Eastern

Extended Trading

$56.48 -0.02 (-0.03%)

As of 05/22/2026 07:52 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	526	435	765	806	1,275	948	963	983	1,141	1,115	1,250
Consolidated Net Income / (Loss)	607	531	894	942	1,427	1,089	1,100	1,119	1,295	1,269	1,430
Net Income / (Loss) Continuing Operations	607	531	894	942	1,427	1,089	1,100	1,119	1,295	1,269	1,430
Total Pre-Tax Income	769	638	1,361	1,063	1,650	1,270	1,283	1,332	1,568	1,510	1,717
Total Operating Income	1,026	1,104	1,995	1,733	2,341	1,966	1,932	2,025	2,336	2,286	2,547
Total Gross Profit	3,012	3,347	4,720	4,320	4,827	4,996	5,085	5,240	5,867	5,735	6,417
Total Revenue	4,886	5,089	6,597	6,148	6,769	7,004	7,395	8,161	8,724	7,992	8,875
Operating Revenue	4,886	5,089	6,597	6,148	6,769	7,004	7,395	8,161	8,724	7,992	8,875
Total Cost of Revenue	1,873	1,742	1,876	1,828	1,942	2,008	2,310	2,920	2,856	2,256	2,458
Operating Cost of Revenue	1,873	1,742	1,876	1,828	1,942	2,008	2,310	2,920	2,856	2,256	2,458
Total Operating Expenses	1,986	2,243	2,725	2,587	2,485	3,030	3,153	3,215	3,531	3,449	3,870
Depreciation Expense	631	732	937	911	1,040	1,119	1,178	1,233	1,343	1,338	1,500
Other Operating Expenses / (Income)	1,355	1,511	1,788	1,676	1,890	1,910	1,975	1,983	2,188	2,111	2,370
Total Other Income / (Expense), net	-257	-465	-634	-670	-691	-696	-650	-692	-768	-776	-830
Interest Expense	400	505	726	714	798	817	785	814	988	976	1,078
Other Income / (Expense), net	142	39	92	44	106	121	135	122	220	200	248
Income Tax Expense	161	108	467	121	223	181	183	214	273	240	287
Preferred Stock Dividends Declared	56	56	52	48	52	51	49	47	51	51	62
Net Income / (Loss) Attributable to Noncontrolling Interest	25	39	77	88	100	90	87	89	104	103	118
Basic Earnings per Share	$1.89	$1.89	$2.32	$1.90	$3.79	$2.60	$2.61	$2.78	$2.35	$2.25	$2.48
Weighted Average Basic Shares Outstanding	-	401.49M	421.14M	428.46M	463.27M	466.77M	474.76M	482.15M	490.59M	499.30M	507.34M
Diluted Earnings per Share	$1.87	$1.89	$2.31	$1.90	$3.78	$2.60	$2.61	$2.78	$2.35	$2.25	$2.48
Weighted Average Diluted Shares Outstanding	-	401.49M	421.14M	428.46M	463.27M	466.77M	474.76M	482.15M	490.59M	499.30M	507.34M
Weighted Average Basic & Diluted Shares Outstanding	-	401.49M	421.14M	428.46M	463.27M	466.77M	474.76M	482.15M	490.59M	499.30M	507.34M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	8.68	20	46	15	18	-95	-92	58	315	-281	107
Net Cash From Operating Activities	1,210	1,402	2,190	1,908	2,052	2,117	2,275	2,272	2,685	2,696	2,962
Net Cash From Continuing Operating Activities	1,210	1,415	2,190	1,908	2,052	2,117	2,275	2,272	2,685	2,696	2,962
Net Income / (Loss) Continuing Operations	607	531	894	942	1,427	1,089	1,100	1,119	1,295	1,269	1,430
Consolidated Net Income / (Loss)	607	531	894	942	1,427	1,089	1,100	1,119	1,295	1,269	1,430
Depreciation Expense	568	650	838	811	924	1,005	1,028	1,079	1,168	1,177	1,320
Amortization Expense	64	82	99	100	116	114	150	154	175	161	180
Non-Cash Adjustments To Reconcile Net Income	-170	16	-59	-47	-506	-61	-60	-58	-77	-97	-81
Changes in Operating Assets and Liabilities, net	141	137	418	102	91	-30	58	-22	123	185	113
Net Cash From Investing Activities	-989	-5,128	-2,404	-2,383	-2,133	-3,239	-2,730	-3,000	-2,834	-3,747	-3,907
Net Cash From Continuing Investing Activities	-940	-5,128	-2,404	-2,383	-2,133	-3,239	-2,730	-3,000	-2,834	-3,747	-3,907
Purchase of Property, Plant & Equipment	-1,541	-1,423	-2,235	-2,222	-2,697	-3,024	-2,496	-2,651	-3,019	-3,481	-4,333
Acquisitions	-108	-3,713	-168	-136	-170	-143	-154	-279	-157	-143	-213
Divestitures	-	-	-	0.00	767	-	-	0.00	344	0.00	349
Other Investing Activities, net	43	-29	-0.79	-25	-33	-73	-80	-69	-2.27	-123	290
Net Cash From Financing Activities	-250	3,758	269	472	119	1,040	353	765	464	739	1,065
Net Cash From Continuing Financing Activities	-250	3,758	269	472	119	1,040	353	765	464	739	1,065
Repayment of Debt	-885	-621	-6,704	-4,405	-5,767	-5,435	-4,137	-5,862	-6,519	-6,803	-7,850
Payment of Dividends	-240	-328	-471	-447	-489	-718	-571	-593	-645	-644	-676
Issuance of Debt	832	3,810	6,999	5,299	5,263	7,148	5,014	7,181	7,595	8,154	9,548
Issuance of Common Equity	43	1,046	446	25	1,111	45	47	39	33	32	44
Effect of Exchange Rate Changes	38	-12	-9.54	18	-20	-13	9.39	21	0.00	31	-14

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	20,827	35,648	38,003	38,875	41,157	43,492	45,127	47,482	49,932	51,032	54,573
Total Current Assets	1,343	1,612	1,754	2,390	1,984	2,048	2,135	3,155	3,049	2,636	2,775
Cash & Equivalents	175	200	260	243	285	195	103	154	473	153	268
Accounts Receivable	697	839	899	994	1,000	1,073	1,183	1,728	1,377	1,310	1,236
Inventories, net	244	277	292	292	304	331	374	488	429	476	473
Prepaid Expenses	49	63	63	62	68	80	91	108	114	126	131
Other Current Assets	178	233	241	237	328	368	385	675	656	572	667
Plant, Property, & Equipment, net	14,168	21,832	23,577	24,004	26,194	28,219	29,597	30,789	32,862	34,344	37,111
Total Noncurrent Assets	5,316	12,205	12,673	12,481	12,980	13,225	13,395	13,538	14,021	14,051	14,687
Goodwill	3,017	9,201	9,253	9,182	9,251	9,244	9,173	9,211	9,229	9,106	9,136
Intangible Assets	391	752	859	879	971	1,012	1,051	1,144	1,144	1,153	1,257
Other Noncurrent Operating Assets	1,907	2,252	2,560	2,420	2,757	2,969	3,171	3,184	3,648	3,792	4,295
Total Liabilities & Shareholders' Equity	20,827	35,648	38,003	38,875	41,157	43,492	45,127	47,482	49,932	51,032	54,573
Total Liabilities	13,341	23,407	24,693	25,350	25,657	27,591	28,757	30,602	32,259	33,078	35,707
Total Current Liabilities	1,907	2,935	2,785	3,116	3,218	3,252	3,758	4,890	4,517	4,192	5,479
Short-Term Debt	666	1,103	764	907	926	1,086	1,467	2,020	1,829	1,450	2,595
Accounts Payable	1,026	1,466	1,631	1,677	1,851	1,819	2,011	2,430	2,251	2,328	2,555
Other Current Liabilities	215	366	389	481	441	346	279	440	437	413	330
Total Noncurrent Liabilities	11,434	20,472	21,909	22,235	22,438	24,340	24,999	25,712	27,741	28,887	30,228
Long-Term Debt	7,797	15,491	16,443	16,970	16,570	18,118	18,554	19,163	20,629	21,683	22,406
Asset Retirement Reserve & Litigation Obligation	969	1,258	2,349	2,176	2,147	2,087	2,242	2,453	2,561	2,567	2,779
Noncurrent Deferred & Payable Income Tax Liabilities	1,482	2,428	1,826	1,968	2,288	2,621	2,839	3,000	3,332	3,486	3,859
Other Noncurrent Operating Liabilities	833	952	962	834	1,433	1,513	1,363	1,095	1,219	1,151	1,184
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,486	12,241	13,310	13,524	15,501	15,901	16,370	16,880	17,673	17,953	18,866
Total Preferred & Common Equity	7,144	10,863	11,923	12,115	14,281	14,657	15,096	15,541	16,289	16,533	17,364
Preferred Stock	1,316	1,208	1,290	1,189	1,251	1,272	1,270	1,199	1,229	1,127	1,184
Total Common Equity	5,828	9,655	10,633	10,926	13,031	13,384	13,826	14,342	15,060	15,406	16,181
Common Stock	4,252	8,018	9,212	8,720	10,524	10,841	11,151	10,838	11,451	10,831	11,754
Retained Earnings	1,004	1,083	1,372	1,526	2,247	2,516	2,706	2,759	3,115	3,140	3,624
Accumulated Other Comprehensive Income / (Loss)	572	554	48	680	259	27	-31	745	495	1,435	803
Noncontrolling Interest	342	1,379	1,388	1,409	1,219	1,244	1,274	1,339	1,384	1,420	1,502

No quarterly balance sheets for Fortis are available.

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	4.15%	29.64%	-6.80%	10.10%	3.48%	5.57%	10.36%	6.90%	-8.39%	11.06%
EBITDA Growth	0.00%	4.16%	61.35%	-11.13%	29.77%	-8.08%	1.23%	4.12%	15.39%	-1.93%	12.30%
EBIT Growth	0.00%	-2.17%	82.64%	-14.88%	37.74%	-14.74%	-0.91%	3.82%	19.08%	-2.75%	12.41%
NOPAT Growth	0.00%	13.11%	42.90%	17.20%	31.86%	-16.77%	-1.73%	2.64%	13.50%	-0.39%	10.36%
Net Income Growth	0.00%	-12.64%	68.50%	5.41%	51.46%	-23.71%	0.99%	1.75%	15.77%	-1.99%	12.66%
EPS Growth	0.00%	0.92%	22.22%	-17.84%	45.95%	-31.22%	0.38%	6.51%	-15.54%	-4.18%	10.20%
Operating Cash Flow Growth	0.00%	15.90%	56.22%	-12.88%	7.55%	3.17%	7.46%	-0.16%	18.20%	0.40%	9.89%
Free Cash Flow Firm Growth	0.00%	0.00%	97.51%	499.41%	-79.24%	-307.86%	154.14%	-70.81%	122.14%	259.19%	-184.05%
Invested Capital Growth	0.00%	79.70%	5.55%	1.14%	5.75%	6.72%	3.95%	4.46%	4.62%	3.22%	6.51%
Revenue Q/Q Growth	0.00%	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%	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%	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%	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%	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%	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%	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%	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%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.65%	65.76%	71.56%	70.26%	71.31%	71.33%	68.77%	64.21%	67.26%	71.77%	72.30%
EBITDA Margin	36.84%	36.84%	45.85%	43.72%	51.53%	45.78%	43.89%	41.41%	44.70%	47.85%	48.39%
Operating Margin	21.00%	21.69%	30.25%	28.19%	34.59%	28.07%	26.13%	24.81%	26.78%	28.61%	28.69%
EBIT Margin	23.92%	22.46%	31.65%	28.90%	36.16%	29.79%	27.96%	26.31%	29.30%	31.11%	31.49%
Profit (Net Income) Margin	12.43%	10.43%	13.55%	15.33%	21.09%	15.55%	14.87%	13.71%	14.85%	15.88%	16.11%
Tax Burden Percent	79.02%	83.10%	65.67%	88.63%	86.50%	85.74%	85.72%	83.97%	82.61%	84.08%	83.31%
Interest Burden Percent	65.78%	55.86%	65.21%	59.84%	67.41%	60.86%	62.04%	62.07%	61.33%	60.73%	61.43%
Effective Tax Rate	20.98%	16.90%	34.33%	11.37%	13.50%	14.26%	14.28%	16.03%	17.39%	15.92%	16.70%
Return on Invested Capital (ROIC)	5.03%	4.07%	4.40%	4.99%	6.36%	4.99%	4.65%	4.58%	4.98%	4.77%	5.02%
ROIC Less NNEP Spread (ROIC-NNEP)	2.67%	1.02%	1.95%	1.57%	2.91%	1.69%	1.79%	1.74%	2.03%	1.87%	2.12%
Return on Net Nonoperating Assets (RNNOA)	3.09%	1.31%	2.60%	2.03%	3.47%	1.95%	2.16%	2.15%	2.52%	2.36%	2.75%
Return on Equity (ROE)	8.11%	5.38%	7.00%	7.02%	9.84%	6.94%	6.82%	6.73%	7.50%	7.13%	7.77%
Cash Return on Invested Capital (CROIC)	0.00%	-52.92%	-1.00%	3.86%	0.78%	-1.52%	0.78%	0.22%	0.46%	1.60%	-1.29%
Operating Return on Assets (OROA)	5.61%	4.05%	5.67%	4.62%	6.12%	4.93%	4.67%	4.64%	5.25%	4.92%	5.29%
Return on Assets (ROA)	2.92%	1.88%	2.43%	2.45%	3.57%	2.57%	2.48%	2.42%	2.66%	2.51%	2.71%
Return on Common Equity (ROCE)	6.32%	4.22%	5.56%	5.64%	8.12%	5.83%	5.75%	5.70%	6.38%	6.09%	6.66%
Return on Equity Simple (ROE_SIMPLE)	8.50%	4.88%	7.50%	7.78%	9.99%	7.43%	7.28%	7.20%	7.95%	7.68%	0.00%
Net Operating Profit after Tax (NOPAT)	811	917	1,310	1,536	2,025	1,686	1,656	1,700	1,930	1,922	2,122
NOPAT Margin	16.59%	18.02%	19.87%	24.98%	29.92%	24.07%	22.40%	20.84%	22.12%	24.05%	23.90%
Net Nonoperating Expense Percent (NNEP)	2.35%	3.05%	2.45%	3.42%	3.45%	3.30%	2.86%	2.84%	2.95%	2.90%	2.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	4.81%	4.68%	4.84%
Cost of Revenue to Revenue	38.35%	34.24%	28.44%	29.74%	28.69%	28.67%	31.23%	35.79%	32.74%	28.23%	27.70%
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%	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%	0.00%
Operating Expenses to Revenue	40.65%	44.08%	41.31%	42.07%	36.72%	43.26%	42.63%	39.40%	40.48%	43.16%	43.61%
Earnings before Interest and Taxes (EBIT)	1,168	1,143	2,088	1,777	2,448	2,087	2,068	2,147	2,556	2,486	2,795
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,800	1,875	3,025	2,688	3,488	3,206	3,246	3,379	3,899	3,824	4,295
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.10	1.04	1.17	1.26	1.51	1.27	1.26	1.32	1.60
Price to Tangible Book Value (P/TBV)	0.00	0.00	22.56	13.19	5.45	5.39	5.79	4.58	4.04	3.96	4.48
Price to Revenue (P/Rev)	0.00	0.00	1.78	1.86	2.26	2.41	2.82	2.24	2.17	2.55	2.92
Price to Earnings (P/E)	0.00	0.00	15.34	14.15	12.00	17.80	21.64	18.58	16.61	18.29	20.75
Dividend Yield	0.00%	1.25%	4.28%	4.93%	3.84%	3.98%	3.66%	4.35%	4.30%	4.19%	3.42%
Earnings Yield	0.00%	0.00%	6.52%	7.07%	8.33%	5.62%	4.62%	5.38%	6.02%	5.47%	4.82%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.04	1.03	1.07	1.10	1.19	1.10	1.10	1.12	1.22
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.80	5.19	5.17	5.48	5.86	5.13	4.99	5.75	6.01
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	10.48	11.88	10.03	11.97	13.35	12.38	11.17	12.01	12.42
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	15.18	17.97	14.29	18.40	20.95	19.48	17.03	18.47	19.09
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	24.18	20.79	17.28	22.77	26.15	24.60	22.56	23.89	25.15
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	14.47	16.73	17.05	18.13	19.04	18.41	16.22	17.03	18.01
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	26.87	141.81	0.00	156.03	516.12	241.86	71.02	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.18	1.38	1.32	1.34	1.13	1.21	1.22	1.25	1.27	1.29	1.33
Long-Term Debt to Equity	1.09	1.29	1.26	1.28	1.07	1.14	1.13	1.14	1.17	1.21	1.19
Financial Leverage	1.15	1.29	1.33	1.29	1.19	1.15	1.21	1.23	1.24	1.26	1.30
Leverage Ratio	2.78	2.86	2.88	2.86	2.76	2.70	2.75	2.79	2.82	2.83	2.87
Compound Leverage Factor	1.83	1.60	1.88	1.71	1.86	1.64	1.70	1.73	1.73	1.72	1.76
Debt to Total Capital	54.08%	58.05%	56.85%	57.32%	53.02%	54.71%	55.02%	55.65%	55.96%	56.30%	56.99%
Short-Term Debt to Total Capital	4.09%	3.78%	2.48%	2.86%	2.81%	3.09%	4.03%	5.31%	4.56%	3.53%	5.92%
Long-Term Debt to Total Capital	49.99%	54.27%	54.37%	54.46%	50.22%	51.61%	50.99%	50.34%	51.40%	52.77%	51.08%
Preferred Equity to Total Capital	8.07%	4.14%	4.18%	3.75%	3.79%	3.62%	3.49%	3.15%	3.06%	2.74%	2.70%
Noncontrolling Interests to Total Capital	2.10%	4.73%	4.50%	4.45%	3.69%	3.54%	3.50%	3.52%	3.45%	3.46%	3.42%
Common Equity to Total Capital	35.75%	33.09%	34.47%	34.48%	39.49%	38.13%	37.99%	37.68%	37.53%	37.50%	36.89%
Debt to EBITDA	4.90	9.03	5.80	6.76	5.02	5.99	6.17	6.27	5.76	6.05	5.82
Net Debt to EBITDA	4.80	8.93	5.71	6.67	4.93	5.93	6.14	6.22	5.64	6.01	5.76
Long-Term Debt to EBITDA	4.53	8.45	5.55	6.42	4.75	5.65	5.72	5.67	5.29	5.67	5.22
Debt to NOPAT	10.87	18.47	13.38	11.83	8.64	11.39	12.09	12.46	11.64	12.03	11.78
Net Debt to NOPAT	10.66	18.25	13.18	11.67	8.50	11.28	12.03	12.37	11.39	11.95	11.66
Long-Term Debt to NOPAT	10.05	17.27	12.80	11.23	8.18	10.75	11.20	11.27	10.69	11.28	10.56
Altman Z-Score	0.00	0.00	0.66	0.61	0.76	0.73	0.79	0.72	0.75	0.74	0.80
Noncontrolling Interest Sharing Ratio	22.15%	21.52%	20.60%	19.66%	17.46%	15.88%	15.68%	15.29%	14.91%	14.48%	14.21%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.70	0.55	0.63	0.77	0.62	0.63	0.57	0.65	0.67	0.63	0.51
Quick Ratio	0.46	0.35	0.42	0.40	0.40	0.39	0.34	0.39	0.41	0.35	0.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-11,935	-297	1,188	247	-513	278	81	180	647	-544
Operating Cash Flow to CapEx	138.38%	101.18%	97.97%	85.88%	76.11%	70.03%	91.16%	85.70%	88.94%	77.45%	68.36%
Free Cash Flow to Firm to Interest Expense	0.00	-23.65	-0.41	1.66	0.31	-0.63	0.35	0.10	0.18	0.66	-0.50
Operating Cash Flow to Interest Expense	3.03	2.78	3.02	2.67	2.57	2.59	2.90	2.79	2.72	2.76	2.75
Operating Cash Flow Less CapEx to Interest Expense	0.84	0.03	-0.06	-0.44	-0.81	-1.11	-0.28	-0.47	-0.34	-0.80	-1.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.18	0.18	0.16	0.17	0.17	0.17	0.18	0.18	0.16	0.17
Accounts Receivable Turnover	7.01	6.63	7.59	6.50	6.79	6.76	6.56	5.61	5.62	5.95	6.97
Inventory Turnover	7.69	6.69	6.60	6.27	6.52	6.33	6.55	6.77	6.23	4.99	5.18
Fixed Asset Turnover	0.34	0.28	0.29	0.26	0.27	0.26	0.26	0.27	0.27	0.24	0.25
Accounts Payable Turnover	1.83	1.40	1.21	1.11	1.10	1.09	1.21	1.32	1.22	0.99	1.01
Days Sales Outstanding (DSO)	52.07	55.08	48.07	56.20	53.76	54.01	55.67	65.10	64.97	61.36	52.35
Days Inventory Outstanding (DIO)	47.47	54.53	55.30	58.22	55.94	57.65	55.70	53.90	58.60	73.16	70.45
Days Payable Outstanding (DPO)	199.90	261.06	301.29	330.29	331.57	333.55	302.71	277.53	299.08	370.43	362.50
Cash Conversion Cycle (CCC)	-100.35	-151.46	-197.93	-215.87	-221.87	-221.89	-191.33	-158.53	-175.51	-235.92	-239.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	16,126	28,978	30,586	30,933	32,712	34,911	36,289	37,909	39,658	40,934	43,599
Invested Capital Turnover	0.30	0.23	0.22	0.20	0.21	0.21	0.21	0.22	0.22	0.20	0.21
Increase / (Decrease) in Invested Capital	0.00	12,852	1,608	348	1,779	2,199	1,379	1,619	1,750	1,276	2,665
Enterprise Value (EV)	0.00	0.00	31,694	31,928	34,987	38,392	43,317	41,825	43,541	45,922	53,352
Market Capitalization	0.00	0.00	11,741	11,409	15,305	16,865	20,853	18,258	18,943	20,394	25,934
Book Value per Share	$0.00	$24.05	$26.48	$25.94	$30.41	$28.89	$29.62	$30.21	$31.23	$31.40	$32.41
Tangible Book Value per Share	$0.00	($0.74)	$1.30	$2.05	$6.55	$6.75	$7.72	$8.40	$9.72	$10.49	$11.59
Total Capital	16,301	29,178	30,846	31,688	32,997	35,106	36,392	38,063	40,132	41,087	43,867
Total Debt	8,815	16,936	17,535	18,163	17,497	19,205	20,022	21,183	22,459	23,133	25,001
Total Long-Term Debt	8,149	15,834	16,772	17,256	16,570	18,118	18,554	19,163	20,629	21,683	22,406
Net Debt	8,640	16,736	17,276	17,920	17,211	19,010	19,919	21,029	21,985	22,981	24,733
Capital Expenditures (CapEx)	874	1,386	2,235	2,222	2,697	3,024	2,496	2,651	3,019	3,481	4,333
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-74	-420	-527	-62	-593	-313	-258	131	-113	-258	-377
Debt-free Net Working Capital (DFNWC)	101	-220	-267	181	-308	-118	-156	285	361	-106	-109
Net Working Capital (NWC)	-565	-1,323	-1,031	-726	-1,235	-1,204	-1,623	-1,735	-1,469	-1,556	-2,704
Net Nonoperating Expense (NNE)	203	387	416	594	598	597	557	581	634	653	691
Net Nonoperating Obligations (NNO)	8,640	16,736	17,276	17,409	17,211	19,010	19,919	21,029	21,985	22,981	24,733
Total Depreciation and Amortization (D&A)	631	732	937	911	1,040	1,119	1,178	1,233	1,343	1,338	1,500
Debt-free, Cash-free Net Working Capital to Revenue	-1.51%	-8.26%	-7.99%	-1.01%	-8.77%	-4.47%	-3.49%	1.60%	-1.29%	-3.23%	-4.25%
Debt-free Net Working Capital to Revenue	2.07%	-4.33%	-4.05%	2.94%	-4.55%	-1.68%	-2.11%	3.50%	4.13%	-1.32%	-1.23%
Net Working Capital to Revenue	-11.56%	-26.00%	-15.62%	-11.81%	-18.24%	-17.19%	-21.95%	-21.26%	-16.84%	-19.46%	-30.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$1.41	$2.32	$2.59	$3.79	$2.60	$2.61	$2.78	$3.10	$2.25	$2.48
Adjusted Weighted Average Basic Shares Outstanding	0.00	401.49M	421.14M	428.46M	463.27M	466.77M	474.76M	482.15M	490.59M	499.30M	507.34M
Adjusted Diluted Earnings per Share	$0.00	$1.41	$2.31	$2.59	$3.78	$2.60	$2.61	$2.78	$3.10	$2.25	$2.48
Adjusted Weighted Average Diluted Shares Outstanding	0.00	401.49M	421.14M	428.46M	463.27M	466.77M	474.76M	482.15M	490.59M	499.30M	507.34M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	401.49M	421.14M	428.46M	463.27M	466.77M	474.76M	482.15M	490.59M	499.30M	507.34M
Normalized Net Operating Profit after Tax (NOPAT)	811	917	1,310	1,536	1,641	1,686	1,656	1,700	1,930	1,922	2,122
Normalized NOPAT Margin	16.59%	18.02%	19.87%	24.98%	24.24%	24.07%	22.40%	20.84%	22.12%	24.05%	23.90%
Pre Tax Income Margin	15.73%	12.55%	20.64%	17.29%	24.38%	18.13%	17.35%	16.33%	17.97%	18.89%	19.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.92	2.27	2.87	2.49	3.07	2.55	2.63	2.64	2.59	2.55	2.59
NOPAT to Interest Expense	2.03	1.82	1.80	2.15	2.54	2.06	2.11	2.09	1.95	1.97	1.97
EBIT Less CapEx to Interest Expense	0.74	-0.48	-0.20	-0.62	-0.31	-1.15	-0.55	-0.62	-0.47	-1.02	-1.43
NOPAT Less CapEx to Interest Expense	-0.16	-0.93	-1.27	-0.96	-0.84	-1.64	-1.07	-1.17	-1.10	-1.60	-2.05
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	39.52%	61.85%	52.71%	47.43%	34.23%	65.95%	51.89%	53.04%	49.77%	50.77%	47.27%
Augmented Payout Ratio	39.52%	61.85%	52.71%	47.43%	34.23%	65.95%	51.89%	53.04%	49.77%	50.77%	47.27%

No quarterly metrics and ratios for Fortis are available.

Financials Breakdown Chart

Fortis Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Fortis' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Fortis' net income appears to be on an upward trend, with a most recent value of $1.43 billion in 2025, rising from $607.36 million in 2015. The previous period was $1.27 billion in 2024. View Fortis' forecast to see where analysts expect Fortis to go next.

Fortis' total operating income in 2025 was $2.55 billion, based on the following breakdown:

Total Gross Profit: $6.42 billion
Total Operating Expenses: $3.87 billion

Over the last 10 years, Fortis' total revenue changed from $4.89 billion in 2015 to $8.88 billion in 2025, a change of 81.7%.

Fortis' total liabilities were at $35.71 billion at the end of 2025, a 7.9% increase from 2024, and a 167.6% increase since 2015.

In the past 10 years, Fortis' cash and equivalents has ranged from $102.53 million in 2021 to $473.41 million in 2023, and is currently $267.65 million as of their latest financial filing in 2025.

Over the last 10 years, Fortis' book value per share changed from 0.00 in 2015 to 32.41 in 2025, a change of 3,240.7%.

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Financial statements for NYSE:FTS last updated on 2/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Fortis (FTS) Financials

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Fortis (FTS) Financials

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Financials Breakdown Chart

Fortis Financials - Frequently Asked Questions

When does Fortis' fiscal year end?

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What is Fortis' operating income?

How has Fortis' revenue changed over the last 10 years?

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How has Fortis' book value per share changed over the last 10 years?

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