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Fortis FTS
$ 55.97 0.29%
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Annual report 2025
added 05-06-2026

Fortis Financial Ratios 2025-2011 | FTS

Brief overview of Fortis 's market valuation

Current figures are compared with the company's own five-year history for 2021–2025.

Market valuation is represented by P/E 14.54x (median 12.52x), EV/EBITDA 13.9x (median 13.27x), P/S 2.34x (median 1.9x). Multiples are on average 16.2% above their own medians. A substantial share of positive expectations may already be priced in.

The 1/P/E calculation produces a 6.9% earnings yield. It does not capture future growth or capital structure.

End-period return metrics are ROE 8.2%, ROA 2.6%, ROCE 14.7%. Profitability remains low. Market valuation has limited fundamental support until resource returns improve.

On PEG (2.66x), valuation is stretched relative to growth and requires strong execution.

The time from paying for inputs to receiving cash fell from -22.4 days to -75.4 days. Cash turnover improved.

What the ratios show

Fortis 's multiples are demanding relative to current business quality. Material improvement is needed to justify them.

Annual Financial Ratios Fortis

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

P/E

14.5 12.0 11.1 12.5 15.8 13.9 9.5 10.4 17.6 18.4 12.6 24.9 16.6 22.7 21.6

P/S

2.3 1.9 1.6 1.7 2.3 2.0 1.9 1.4 2.2 1.8 1.5 1.7 1.7 2.3 2.0

EPS

3.4 3.2 3.1 2.8 2.6 2.6 3.8 2.6 2.3 1.9 2.6 - - - -

EV (Enterprise Value)

77.1 B 69.3 B 60.9 B 60.1 B 58.9 B 52.7 B 49.2 B 46.4 B 45.1 B 40.8 B 26.2 B 25 B 16.9 B 16.1 B 14.8 B

EBITDA per Share

11 10.5 9.99 9.21 8.44 8.47 10.1 8.5 8.85 7.98 8.26 7.58 6.88 6.65 6.53

EV/EBITDA

13.9 13.3 12.5 13.6 5.6 10.6 10.9 10.7 9.7 12.8 8.3 10.4 9.0 9.8 5.1

PEG

2.66 8.51 2.81 8.59 8.71 11.54 1.54 2.29 2.05 -1.02 0.15 -1.31 3.45 -4.42 3.57

P/B

1.1 0.8 0.8 0.8 1.1 0.9 0.8 0.7 1.1 0.7 1.0 1.0 1.1 1.5 1.6

P/CF

7.0 5.6 5.3 6.2 7.6 6.6 6.1 4.7 -53.7 -54.5 -14.1 -10.1 -19.6 -42.4 -22.0

ROE %

8.24 7.68 7.95 7.20 7.28 6.28 8.56 6.32 6.14 4.01 7.78 4.16 6.43 6.69 7.42

ROA %

2.62 2.49 2.59 2.36 2.44 2.30 3.22 2.20 2.15 1.38 2.79 1.42 2.29 2.42 2.56

ROCE %

14.67 13.83 14.34 13.03 12.80 4.89 6.17 4.85 5.64 3.37 5.46 4.27 5.38 5.82 6.26

Current Ratio

1.5 1.5 1.5 1.6 1.6 1.6 1.6 1.5 0.6 0.5 0.7 0.7 0.6 0.8 0.8

DSO

47.4 51.0 52.4 29.1 21.3 44.4 44.7 48.1 49.7 60.2 50.2 60.8 66.0 58.6 62.7

DIO

- - - - - - - - 56.7 58.0 48.0 53.3 32.3 31.9 28.8

DPO

122.8 118.6 90.8 40.9 43.7 104.1 103.8 100.6 107.6 86.4 81.8 101.7 104.5 119.4 196.6

Operating Cycle

47.4 51.0 52.4 29.1 21.3 44.4 44.7 48.1 106.5 118.2 98.3 114.2 98.3 90.5 91.6

Cash Conversion Cycle

-75.4 -67.5 -38.4 -11.8 -22.4 -59.7 -59.1 -52.5 -1.1 31.8 16.5 12.5 -6.2 -28.9 -105.0

All numbers in CAD currency

Quarterly Financial Ratios Fortis

2025-Q4 2025-Q2 2024-Q4 2024-Q2 2023-Q4 2023-Q2 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

- - - - - - - - - - - - 0.54 - - - 0.59 - - - 1.66 - - - 0.57 - - - 0.62 - - - 0.38 - - - - - - - - - - - - - - - - - - - - -

EBITDA per Share

- - - - - - - - - - - - 1.97 - - - 2.07 - - - 3.34 - - - 2.09 - - - 2.22 - - - 1.91 - - - - - - - - - - - - - - - - - - - - -

ROE %

- - - - - - - - 1.56 3.12 3.12 1.56 3.22 3.32 3.32 1.66 6.09 8.86 8.86 4.43 6.26 3.65 3.65 1.82 3.86 4.07 4.07 2.04 3.41 2.75 2.75 1.37 1.37 - - - - - - - - - - - - - - - - - - - - -

ROA %

- - - - - - - - 0.53 1.06 1.06 0.53 1.11 1.15 1.15 0.58 2.06 2.96 2.96 1.48 2.06 1.16 1.16 0.58 1.24 1.31 1.31 0.66 1.15 0.99 0.99 0.50 0.50 - - - - - - - - - - - - - - - - - - - - -

ROCE %

- - - - - - - - 2.94 5.88 5.88 2.94 6.00 6.13 6.13 3.06 9.49 12.86 12.86 6.43 10.04 7.22 7.22 3.61 7.70 8.18 8.18 4.09 7.09 6.01 6.01 3.01 3.01 - - - - - - - - - - - - - - - - - - - - -

Current Ratio

1.5 1.5 1.5 1.6 1.6 1.6 1.6 - 1.6 - 1.6 - 1.6 - 1.6 - 1.6 - 1.6 - 1.6 - 1.5 - 1.6 - 1.5 - 1.6 - 1.5 - - - 1.6 - - - - - - - - - - - - - - - - - - -

DSO

- - - - - - - - - - - - 29.4 - - - 27.0 - - - 27.1 - - - 22.2 - - - 25.0 - - - - - - - - - - - - - - - - - - - - - - - - -

Operating Cycle

- - - - - - - - - - - - 29.4 - - - 27.0 - - - 27.1 - - - 22.2 - - - 25.0 - - - - - - - - - - - - - - - - - - - - - - - - -

Cash Conversion Cycle

- - - - - - - - - - - - 29.4 - - - 27.0 - - - 27.1 - - - 22.2 - - - 25.0 - - - - - - - - - - - - - - - - - - - - - - - - -

All numbers in CAD currency

Multiples are an important financial analysis tool for the company Fortis , allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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