FORTIS INC (FTS.CA) Fundamental Analysis & Valuation

TSX:FTS • CA3495531079

78.59 CAD
+0.28 (+0.36%)
Last: Mar 6, 2026, 07:00 PM
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This FTS.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

3

Overall FTS gets a fundamental rating of 3 out of 10. We evaluated FTS against 18 industry peers in the Electric Utilities industry. While FTS is still in line with the averages on profitability rating, there are concerns on its financial health. FTS is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

6

1. FTS.CA Profitability Analysis

1.1 Basic Checks

  • FTS had positive earnings in the past year.
  • FTS had a positive operating cash flow in the past year.
  • FTS had positive earnings in each of the past 5 years.
  • Each year in the past 5 years FTS had a positive operating cash flow.
FTS.CA Yearly Net Income VS EBIT VS OCF VS FCFFTS.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B

1.2 Ratios

  • FTS has a Return On Assets (2.29%) which is comparable to the rest of the industry.
  • The Return On Equity of FTS (7.20%) is worse than 94.44% of its industry peers.
  • FTS has a Return On Invested Capital (4.32%) which is in line with its industry peers.
  • FTS had an Average Return On Invested Capital over the past 3 years of 4.23%. This is in line with the industry average of 4.07%.
  • The 3 year average ROIC (4.23%) for FTS is below the current ROIC(4.32%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.29%
ROE 7.2%
ROIC 4.32%
ROA(3y)2.25%
ROA(5y)2.19%
ROE(3y)6.98%
ROE(5y)6.73%
ROIC(3y)4.23%
ROIC(5y)4.11%
FTS.CA Yearly ROA, ROE, ROICFTS.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8

1.3 Margins

  • FTS's Profit Margin of 14.08% is in line compared to the rest of the industry. FTS outperforms 50.00% of its industry peers.
  • FTS's Profit Margin has been stable in the last couple of years.
  • The Operating Margin of FTS (28.69%) is better than 61.11% of its industry peers.
  • FTS's Operating Margin has been stable in the last couple of years.
  • With a decent Gross Margin value of 72.30%, FTS is doing good in the industry, outperforming 61.11% of the companies in the same industry.
  • In the last couple of years the Gross Margin of FTS has remained more or less at the same level.
Industry RankSector Rank
OM 28.69%
PM (TTM) 14.08%
GM 72.3%
OM growth 3Y4.96%
OM growth 5Y0.44%
PM growth 3Y5.35%
PM growth 5Y0.8%
GM growth 3Y4.03%
GM growth 5Y0.27%
FTS.CA Yearly Profit, Operating, Gross MarginsFTS.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. FTS.CA Health Analysis

2.1 Basic Checks

  • FTS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for FTS has been increased compared to 1 year ago.
  • Compared to 5 years ago, FTS has more shares outstanding
  • Compared to 1 year ago, FTS has a worse debt to assets ratio.
FTS.CA Yearly Shares OutstandingFTS.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
FTS.CA Yearly Total Debt VS Total AssetsFTS.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • FTS has an Altman-Z score of 0.82. This is a bad value and indicates that FTS is not financially healthy and even has some risk of bankruptcy.
  • FTS has a better Altman-Z score (0.82) than 88.89% of its industry peers.
  • A Debt/Equity ratio of 1.32 is on the high side and indicates that FTS has dependencies on debt financing.
  • The Debt to Equity ratio of FTS (1.32) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 1.32
Debt/FCF N/A
Altman-Z 0.82
ROIC/WACC0.72
WACC5.99%
FTS.CA Yearly LT Debt VS Equity VS FCFFTS.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B

2.3 Liquidity

  • A Current Ratio of 0.51 indicates that FTS may have some problems paying its short term obligations.
  • FTS has a worse Current ratio (0.51) than 94.44% of its industry peers.
  • FTS has a Quick Ratio of 0.51. This is a bad value and indicates that FTS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of FTS (0.42) is worse than 94.44% of its industry peers.
Industry RankSector Rank
Current Ratio 0.51
Quick Ratio 0.42
FTS.CA Yearly Current Assets VS Current LiabilitesFTS.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. FTS.CA Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 5.79% over the past year.
  • The Earnings Per Share has been growing slightly by 6.11% on average over the past years.
  • FTS shows a small growth in Revenue. In the last year, the Revenue has grown by 5.75%.
  • FTS shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.37% yearly.
EPS 1Y (TTM)5.79%
EPS 3Y7.67%
EPS 5Y6.11%
EPS Q2Q%8.43%
Revenue 1Y (TTM)5.75%
Revenue growth 3Y3.29%
Revenue growth 5Y6.37%
Sales Q2Q%4.41%

3.2 Future

  • Based on estimates for the next years, FTS will show a small growth in Earnings Per Share. The EPS will grow by 5.22% on average per year.
  • FTS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.78% yearly.
EPS Next Y4.87%
EPS Next 2Y5.49%
EPS Next 3Y6.58%
EPS Next 5Y5.22%
Revenue Next Year4.68%
Revenue Next 2Y5.42%
Revenue Next 3Y6.25%
Revenue Next 5Y3.78%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
FTS.CA Yearly Revenue VS EstimatesFTS.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 5B 10B 15B
FTS.CA Yearly EPS VS EstimatesFTS.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

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1

4. FTS.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 22.65, the valuation of FTS can be described as rather expensive.
  • Based on the Price/Earnings ratio, FTS is valued expensively inside the industry as 88.89% of the companies are valued cheaper.
  • The average S&P500 Price/Earnings ratio is at 26.29. FTS is around the same levels.
  • A Price/Forward Earnings ratio of 21.60 indicates a rather expensive valuation of FTS.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of FTS indicates a rather expensive valuation: FTS more expensive than 88.89% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of FTS to the average of the S&P500 Index (24.57), we can say FTS is valued inline with the index average.
Industry RankSector Rank
PE 22.65
Fwd PE 21.6
FTS.CA Price Earnings VS Forward Price EarningsFTS.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 88.89% of the companies in the same industry are cheaper than FTS, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.26
FTS.CA Per share dataFTS.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The decent profitability rating of FTS may justify a higher PE ratio.
PEG (NY)4.65
PEG (5Y)3.71
EPS Next 2Y5.49%
EPS Next 3Y6.58%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. FTS.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.30%, FTS has a reasonable but not impressive dividend return.
  • FTS's Dividend Yield is comparable with the industry average which is at 4.34.
  • Compared to an average S&P500 Dividend Yield of 1.82, FTS pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.3%

5.2 History

  • The dividend of FTS decreases each year by -1.07%.
  • FTS has been paying a dividend for at least 10 years, so it has a reliable track record.
  • FTS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-1.07%
Div Incr Years25
Div Non Decr Years33
FTS.CA Yearly Dividends per shareFTS.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • FTS pays out 50.93% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP50.93%
EPS Next 2Y5.49%
EPS Next 3Y6.58%
FTS.CA Yearly Income VS Free CF VS DividendFTS.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B -2B
FTS.CA Dividend Payout.FTS.CA Dividend Payout, showing the Payout Ratio.FTS.CA Dividend Payout.PayoutRetained Earnings

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FTS.CA Fundamentals: All Metrics, Ratios and Statistics

FORTIS INC

TSX:FTS (3/6/2026, 7:00:00 PM)

78.59

+0.28 (+0.36%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners56.44%
Inst Owner ChangeN/A
Ins Owners0.11%
Ins Owner ChangeN/A
Market Cap39.87B
Revenue(TTM)12.17B
Net Income(TTM)1.71B
Analysts65.71
Price Target77.95 (-0.81%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.3%
Yearly Dividend1.73
Dividend Growth(5Y)-1.07%
DP50.93%
Div Incr Years25
Div Non Decr Years33
Ex-Date05-15
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.15%
Min EPS beat(2)-5.22%
Max EPS beat(2)4.93%
EPS beat(4)3
Avg EPS beat(4)2.22%
Min EPS beat(4)-5.22%
Max EPS beat(4)7.39%
EPS beat(8)7
Avg EPS beat(8)2.16%
EPS beat(12)10
Avg EPS beat(12)2.56%
EPS beat(16)12
Avg EPS beat(16)1.8%
Revenue beat(2)2
Avg Revenue beat(2)3.26%
Min Revenue beat(2)2.3%
Max Revenue beat(2)4.23%
Revenue beat(4)3
Avg Revenue beat(4)1.93%
Min Revenue beat(4)-0.12%
Max Revenue beat(4)4.23%
Revenue beat(8)3
Avg Revenue beat(8)-2.43%
Revenue beat(12)4
Avg Revenue beat(12)-2.25%
Revenue beat(16)8
Avg Revenue beat(16)1.02%
PT rev (1m)3.03%
PT rev (3m)4.03%
EPS NQ rev (1m)-1.26%
EPS NQ rev (3m)-1.26%
EPS NY rev (1m)0%
EPS NY rev (3m)1.09%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.58%
Revenue NY rev (3m)0.41%
Valuation
Industry RankSector Rank
PE 22.65
Fwd PE 21.6
P/S 3.28
P/FCF N/A
P/OCF 9.82
P/B 1.67
P/tB 4.17
EV/EBITDA 13.26
EPS(TTM)3.47
EY4.42%
EPS(NY)3.64
Fwd EY4.63%
FCF(TTM)-4.28
FCFYN/A
OCF(TTM)8.01
OCFY10.19%
SpS23.99
BVpS46.93
TBVpS18.84
PEG (NY)4.65
PEG (5Y)3.71
Graham Number60.53
Profitability
Industry RankSector Rank
ROA 2.29%
ROE 7.2%
ROCE 5.19%
ROIC 4.32%
ROICexc 4.34%
ROICexgc 5.5%
OM 28.69%
PM (TTM) 14.08%
GM 72.3%
FCFM N/A
ROA(3y)2.25%
ROA(5y)2.19%
ROE(3y)6.98%
ROE(5y)6.73%
ROIC(3y)4.23%
ROIC(5y)4.11%
ROICexc(3y)4.26%
ROICexc(5y)4.13%
ROICexgc(3y)5.46%
ROICexgc(5y)5.36%
ROCE(3y)5.07%
ROCE(5y)4.93%
ROICexgc growth 3Y1.57%
ROICexgc growth 5Y-0.01%
ROICexc growth 3Y2.95%
ROICexc growth 5Y1.15%
OM growth 3Y4.96%
OM growth 5Y0.44%
PM growth 3Y5.35%
PM growth 5Y0.8%
GM growth 3Y4.03%
GM growth 5Y0.27%
F-Score7
Asset Turnover0.16
Health
Industry RankSector Rank
Debt/Equity 1.32
Debt/FCF N/A
Debt/EBITDA 5.67
Cap/Depr 303.06%
Cap/Sales 51.22%
Interest Coverage 2.38
Cash Conversion 73.2%
Profit Quality N/A
Current Ratio 0.51
Quick Ratio 0.42
Altman-Z 0.82
F-Score7
WACC5.99%
ROIC/WACC0.72
Cap/Depr(3y)269.66%
Cap/Depr(5y)253.14%
Cap/Sales(3y)44.26%
Cap/Sales(5y)40.72%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)5.79%
EPS 3Y7.67%
EPS 5Y6.11%
EPS Q2Q%8.43%
EPS Next Y4.87%
EPS Next 2Y5.49%
EPS Next 3Y6.58%
EPS Next 5Y5.22%
Revenue 1Y (TTM)5.75%
Revenue growth 3Y3.29%
Revenue growth 5Y6.37%
Sales Q2Q%4.41%
Revenue Next Year4.68%
Revenue Next 2Y5.42%
Revenue Next 3Y6.25%
Revenue Next 5Y3.78%
EBIT growth 1Y6.08%
EBIT growth 3Y8.42%
EBIT growth 5Y6.84%
EBIT Next Year70.28%
EBIT Next 3Y25.38%
EBIT Next 5Y21.24%
FCF growth 1Y-62.57%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y4.64%
OCF growth 3Y9.74%
OCF growth 5Y8.5%

FORTIS INC / FTS.CA FAQ

What is the fundamental rating for FTS stock?

ChartMill assigns a fundamental rating of 3 / 10 to FTS.CA.


What is the valuation status of FORTIS INC (FTS.CA) stock?

ChartMill assigns a valuation rating of 1 / 10 to FORTIS INC (FTS.CA). This can be considered as Overvalued.


Can you provide the profitability details for FORTIS INC?

FORTIS INC (FTS.CA) has a profitability rating of 6 / 10.


Can you provide the expected EPS growth for FTS stock?

The Earnings per Share (EPS) of FORTIS INC (FTS.CA) is expected to grow by 4.87% in the next year.


Can you provide the dividend sustainability for FTS stock?

The dividend rating of FORTIS INC (FTS.CA) is 5 / 10 and the dividend payout ratio is 50.93%.