Fortis revenue and financials
Secondary listing. The primary listing is Fortis · TSX (CAD)
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In the fiscal year ended December 2025, Fortis reported revenue of $12.17B (+5.75% year over year). Net income was $1.96B, a net margin of 16.1%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +5.75%
- 2025 vs 2024
- Net income growth
- +7.28%
- 2025 vs 2024
- Net margin
- 16.1%
- 2024: 15.9%
Financial data
Amounts in millions of CAD; per-share values in CAD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 4,062 | 3,882 | 3,545 | 3,074 | 2,907 | 2,701 | 2,663 | 2,604 | 2,756 | 1,884 |
| Depreciation and amortization | 2,057 | 1,927 | 1,773 | 1,668 | 1,505 | 1,428 | 1,350 | 1,243 | 1,179 | 983 |
| Capital expenditure | -5,942 | -5,012 | -3,986 | -3,587 | -3,189 | -3,857 | -3,499 | -3,032 | -2,813 | -1,912 |
| Investing cash flow | -5,357 | -5,395 | -3,742 | -4,059 | -3,488 | — | — | — | — | — |
| Financing cash flow | 1,461 | 1,064 | 613 | 1,035 | 451 | — | — | — | — | — |
| Dividends paid | -788 | -744 | -701 | -673 | -608 | -786 | -494 | -459 | -419 | -316 |
| Debt issued | 13,477 | 11,742 | 10,027 | 9,718 | 6,521 | — | — | — | — | — |
| Debt repaid | -11,164 | -9,798 | -8,612 | -7,928 | -5,383 | — | — | — | — | — |
| Effect of exchange rates | -19.0 | 44.0 | 0.0 | 28.0 | 12.0 | — | — | — | — | — |
| Net change in cash | 147 | -405 | 416 | 78.0 | -118 | — | — | — | — | — |
| Free cash flow | -1,880 | -1,130 | -441 | -513 | -282 | — | — | — | — | — |
| Levered free cash flow | -2,633 | -1,814 | -892 | -1,609 | -933 | — | — | — | — | — |