Stock FTS FORTIS INC.
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Financials Fortis Inc.

Equities

FTS

CA3495531079

Electric Utilities

Market Closed - Toronto S.E.
Other stock markets
 01:30:00 27/04/2024 am IST 		5-day change 1st Jan Change
53.38 CAD -0.63% Intraday chart for Fortis Inc. +0.93% -2.07%
22/04 Fortis Inc.(TSX:FTS.PRH) added to S&P/TSX Preferred Share Index CI
11/03 Fortis Brief: Releasing 2024 Climate Report MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 24,876 24,272 28,861 26,023 26,627 26,317 - -
Enterprise Value (EV) 1 47,646 48,853 54,645 54,815 55,991 58,056 58,568 59,636
P/E ratio 14.2 x 20 x 23.4 x 19.5 x 17.6 x 16.7 x 15.9 x 15.1 x
Yield 3.39% 3.73% 3.36% 4.01% 4.2% 4.47% 4.66% 4.88%
Capitalization / Revenue 2.83 x 2.72 x 3.05 x 2.36 x 2.31 x 2.19 x 2.1 x 2.04 x
EV / Revenue 5.42 x 5.47 x 5.78 x 4.96 x 4.86 x 4.84 x 4.67 x 4.62 x
EV / EBITDA 10.9 x 12.4 x 13.8 x 12.4 x 11.5 x 10.9 x 10.5 x 9.81 x
EV / FCF -57 x -36.5 x -114 x -69.3 x -89.7 x 29.5 x 28 x 165 x
FCF Yield -1.75% -2.74% -0.88% -1.44% -1.11% 3.39% 3.57% 0.61%
Price to Book 1.35 x 1.3 x 1.5 x 1.24 x 1.24 x 1.22 x 1.19 x 1.15 x
Nbr of stocks (in thousands) 4,61,696 4,66,770 4,72,893 4,80,308 4,88,477 4,93,005 - -
Reference price 2 53.88 52.00 61.03 54.18 54.51 53.38 53.38 53.38
Announcement Date 13/02/20 12/02/21 11/02/22 10/02/23 09/02/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,783 8,935 9,448 11,043 11,517 11,992 12,534 12,912
EBITDA 1 4,388 3,936 3,974 4,408 4,857 5,326 5,580 6,079
EBIT 1 3,038 2,508 2,469 2,740 3,084 3,351 3,550 3,842
Operating Margin 34.59% 28.07% 26.13% 24.81% 26.78% 27.94% 28.32% 29.75%
Earnings before Tax (EBT) 1 2,141 1,620 1,639 1,803 2,070 2,133 2,252 2,402
Net income 1 1,655 1,209 1,231 1,330 1,506 1,575 1,681 1,818
Net margin 18.84% 13.53% 13.03% 12.04% 13.08% 13.14% 13.41% 14.08%
EPS 2 3.790 2.600 2.610 2.780 3.100 3.199 3.349 3.525
Free Cash Flow 1 -836 -1,338 -479 -791 -624 1,967 2,089 361.3
FCF margin -9.52% -14.97% -5.07% -7.16% -5.42% 16.41% 16.67% 2.8%
FCF Conversion (EBITDA) - - - - - 36.94% 37.44% 5.94%
FCF Conversion (Net income) - - - - - 124.89% 124.31% 19.87%
Dividend per Share 2 1.828 1.938 2.050 2.170 2.290 2.384 2.488 2.606
Announcement Date 13/02/20 12/02/21 11/02/22 10/02/23 09/02/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 2,196 2,583 2,835 2,487 2,553 3,168 3,319 2,594 2,719 2,885 3,435 2,827 2,970 3,194 -
EBITDA 1 978 1,030 1,083 1,031 1,119 1,175 1,266 1,094 1,264 1,233 1,380 1,268 1,412 1,433 -
EBIT 598 646 676 614 697 753 830 654 821 779 - - - - -
Operating Margin 27.23% 25.01% 23.84% 24.69% 27.3% 23.77% 25.01% 25.21% 30.19% 27% - - - - -
Earnings before Tax (EBT) 1 391 438 460 383 436 524 584 395 537 554 581 449 559 542 -
Net income 1 295 328 350 284 326 370 437 294 394 381 443.1 332.4 395.7 411.5 -
Net margin 13.43% 12.7% 12.35% 11.42% 12.77% 11.68% 13.17% 11.33% 14.49% 13.21% 12.9% 11.76% 13.32% 12.88% -
EPS 2 0.6300 0.6900 0.7400 0.5900 0.6800 0.7700 0.9000 0.6100 0.8100 0.7800 0.8936 0.6816 0.8516 0.7884 -
Dividend per Share 2 0.5050 0.5350 0.5350 0.5350 0.5350 0.5650 - 0.5650 0.5650 0.5950 0.5909 0.5909 0.5909 0.6083 0.6188
Announcement Date 29/10/21 11/02/22 04/05/22 28/07/22 28/10/22 10/02/23 03/05/23 02/08/23 27/10/23 09/02/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 22,770 24,581 25,784 28,792 29,364 31,740 32,252 33,319
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.189 x 6.245 x 6.488 x 6.532 x 6.046 x 5.959 x 5.78 x 5.481 x
Free Cash Flow 1 -836 -1,338 -479 -791 -624 1,967 2,089 361
ROE (net income / shareholders' equity) 6.36% 6.5% 6.48% 6.6% 7.08% 7.49% 7.56% 7.75%
ROA (Net income/ Total Assets) 2.1% 2.22% 2.18% 2.18% 2.31% 2.32% 2.31% 2.38%
Assets 1 78,998 54,443 56,572 61,001 65,085 67,973 72,857 76,500
Book Value Per Share 2 40.00 40.10 40.60 43.60 43.80 43.70 44.90 46.30
Cash Flow per Share 2 6.710 6.730 6.470 7.080 7.290 7.450 7.660 7.700
Capex 1 3,720 4,039 3,386 3,865 4,169 4,720 4,824 4,919
Capex / Sales 42.35% 45.2% 35.84% 35% 36.2% 39.36% 38.48% 38.1%
Announcement Date 13/02/20 12/02/21 11/02/22 10/02/23 09/02/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Fortis Inc.

Trading Rating
Investor Rating
ESG Refinitiv
A
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
53.38 CAD
Average target price
55.49 CAD
Spread / Average Target
+3.95%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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