Fortis Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	12,170	11,508	11,517	11,043	9,448
Revenue Growth (YoY)	5.75%	-0.08%	4.29%	16.88%	5.74%
Fuel and Purchased Power Expense	3,371	3,249	3,771	3,952	2,951
Operations and Maintenance Expenses	3,250	3,040	2,889	2,683	2,523
Gross Profit	5,549	5,219	4,857	4,408	3,974
Depreciation & Amortization Expenses	2,057	1,927	1,773	1,668	1,505
Operating Income	3,492	3,292	3,084	2,740	2,469
Interest Income	340	288	291	165	173
Interest Expense	-1,478	-1,406	-1,305	-1,102	-1,003
Total Non-Operating Income (Expense)	-1,138	-1,118	-1,014	-937	-830
Pretax Income	2,354	2,174	2,070	1,803	1,639
Provision for Income Taxes	393	346	360	289	234
Net Income	1,714	1,606	1,506	1,330	1,231
Minority Interest in Earnings	162	148	137	120	111
Net Income Attributable to Preferred Dividends	85	74	67	64	63
Net Income to Common	1,714	1,606	1,506	1,330	1,231
Net Income Growth	6.73%	6.64%	13.23%	8.04%	1.82%
Shares Outstanding (Basic)	504	495	486	479	471
Shares Outstanding (Diluted)	504	495	487	479	471
Shares Change (YoY)	1.72%	1.79%	1.57%	1.61%	1.29%
EPS (Basic)	3.40	3.24	3.10	2.78	2.61
EPS (Diluted)	3.40	3.24	3.10	2.78	2.61
EPS Growth	4.94%	4.52%	11.51%	6.51%	0.39%
Free Cash Flow	-1,880	-1,130	-441	-513	-282
Free Cash Flow Per Share	-3.73	-2.28	-0.91	-1.07	-0.60
Dividends Per Share	2.485	2.390	2.290	2.170	2.050
Dividend Growth	3.98%	4.37%	5.53%	5.85%	5.81%
Gross Margin	45.60%	45.35%	42.17%	39.92%	42.06%
Operating Margin	28.69%	28.61%	26.78%	24.81%	26.13%
Profit Margin	16.11%	15.88%	14.85%	13.71%	14.87%
FCF Margin	-15.45%	-9.82%	-3.83%	-4.65%	-2.98%
EBITDA	5,549	5,219	4,857	4,408	3,974
EBIT	3,492	3,292	3,084	2,740	2,469
EBIT Margin	28.69%	28.61%	26.78%	24.81%	26.13%
Effective Tax Rate	16.69%	15.92%	17.39%	16.03%	14.28%

Updated Feb 12, 2026. Data Source: Fiscal.ai. Utilities template. Financial Sources.

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