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 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1,129 | 1,103 | 1,018 | 1,027 | 804 | 1,213 | 962 | 1,338 | 814 | 768 | 746 | 940 |
| Depreciation and amortization | 542 | 532 | 512 | 518 | 512 | — | — | — | — | — | — | — |
| Capital expenditure | -1,601 | -1,503 | -1,618 | -1,362 | -1,479 | -1,483 | -1,629 | -1,248 | -1,064 | -1,071 | -1,189 | -952 |
| Investing cash flow | -1,341 | -1,371 | -1,341 | -1,081 | -1,510 | -1,425 | -1,796 | -1,313 | -1,147 | -1,139 | -748 | -1,040 |
| Financing cash flow | 221 | 254 | 305 | 220 | 437 | 499 | 125 | 316 | 319 | 304 | -134 | 150 |
| Dividends paid | -233 | -230 | -229 | -220 | -211 | -213 | -214 | -205 | -202 | -197 | -201 | -192 |
| Debt issued | 5,586 | 4,201 | 2,427 | 3,268 | 3,658 | 4,140 | 3,038 | 3,588 | 2,895 | 2,258 | 2,752 | 1,519 |
| Debt repaid | -5,130 | -3,736 | -1,918 | -2,842 | -3,012 | -3,408 | -2,695 | -3,055 | -2,344 | -1,741 | -2,639 | -1,173 |
| Effect of exchange rates | 16.0 | 6.0 | -4.0 | 2.0 | -20.0 | 3.0 | 33.0 | -6.0 | 6.0 | 11.0 | -13.0 | 15.0 |
| Net change in cash | 25.0 | -8.0 | -22.0 | 168 | -289 | 290 | -676 | 335 | -8.0 | -56.0 | -140 | 75.0 |
| Free cash flow | -472 | -400 | -600 | -335 | -675 | -270 | -667 | 90.0 | -250 | -303 | -443 | -12.0 |
| Levered free cash flow | -1,066 | -698 | -533 | -418 | -1,001 | -681 | -932 | 299 | -691 | -489 | -104 | 51.6 |