FTS
UtilitiesFortis Inc. · Regulated Electric · $29B
What is Fortis Inc.?
Fortis Inc. is a large-cap regulated electric and gas utility serving customers across Canada, the United States, and the Caribbean. The company operates a geographically diversified network of transmission, distribution, and generation assets.
Fortis generates, transmits, and distributes electricity and natural gas to residential, commercial, and industrial customers. Revenue flows primarily from regulated rate structures — meaning returns are set by regulators rather than open markets. The company serves over a million natural gas customers in British Columbia, hundreds of thousands of electricity customers across Alberta, Arizona, Newfoundland and Labrador, Ontario, Prince Edward Island, and the Cayman Islands, and sells wholesale electricity in the western United States.
Fortis Inc. was incorporated in its current form in 2010 and is headquartered in Saint John's, Canada.
- Regulated electricity distribution across multiple Canadian provinces and US states
- Natural gas distribution to residential and commercial customers in British Columbia
- Hydroelectric and solar power generation assets
- Wholesale electricity sales in western US markets
- Utility operations and management services for hydroelectric facilities
Is FTS a Good Stock to Buy?
UQS Score rates FTS as Below Average overall, reflecting a mixed fundamental profile within the regulated utilities sector.
Fortis carries a Neutral Quality pillar, consistent with the steady, regulated cash flows typical of large utility operators. Its Valuation pillar is rated Good, suggesting the stock is not trading at a significant premium relative to its fundamentals — a meaningful consideration for income-oriented investors evaluating entry points.
The Risk pillar is rated Weak, which is the most notable drag on the overall score. Elevated leverage — common in capital-intensive utility businesses — and limited financial flexibility weigh on this dimension.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does FTS pay dividends?
Yes — Fortis Inc. pays a dividend.
Fortis pays a regular dividend, a hallmark of its regulated utility business model. Predictable rate-based revenues support consistent distributions to shareholders. The company has a well-documented history of dividend growth, making it a common holding for income-focused investors. Dividend sustainability is tied to regulatory outcomes and the capital spending cycle rather than discretionary earnings.
When does FTS report earnings?
Fortis Inc. reports earnings on a quarterly cadence, consistent with standard practice for TSX- and NYSE-listed equities.
As a regulated utility, Fortis's quarterly results tend to reflect rate-base growth and capital deployment rather than dramatic revenue swings. Performance is shaped by regulatory decisions, weather patterns, and the pace of infrastructure investment across its operating territories.
For the most recent quarter's results and guidance, visit Fortis Inc.'s investor relations page directly.
FTS Price History
+46.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Fortis Inc.?
Based on Fortis Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
FTS Long-term Outlook
The Growth pillar for FTS is rated Neutral, reflecting the measured expansion trajectory typical of regulated utilities. Rate-base growth tied to infrastructure investment programs provides a visible, if modest, path forward. The Weak Risk pillar introduces meaningful uncertainty — particularly around balance sheet flexibility and the cost of capital in a higher interest rate environment. Investors weighing long-term positioning should consider both the stability of regulated revenues and the constraints that capital intensity places on financial resilience.
Growth drivers
- Ongoing capital investment in regulated electricity and gas infrastructure
- Geographic diversification across Canadian, US, and Caribbean markets
- Expansion of renewable generation capacity including solar and wind assets
Key risks
- High leverage typical of capital-intensive utility operations
- Regulatory risk across multiple jurisdictions affecting allowed returns
- Rising interest rates increasing the cost of financing large infrastructure programs
FTS vs Peers
Fortis competes with other large regulated utilities in North America, each with distinct geographic footprints and business mixes.
FirstEnergy focuses on electricity transmission and distribution across the US Midwest and Mid-Atlantic, with no significant Canadian or Caribbean exposure.
PPL operates regulated utilities in the US and the UK, giving it a transatlantic footprint that differs from Fortis's Canadian-anchored model.
CenterPoint serves electric and natural gas customers primarily in Texas and the South-Central US, with a heavier weighting toward natural gas distribution.
Frequently Asked Questions
What does Fortis Inc. do?
Fortis Inc. is a regulated electric and gas utility. It generates, transmits, and distributes electricity and natural gas to customers across Canada, the United States, and the Caribbean. The company earns revenue through rate-regulated structures set by government bodies rather than open-market competition.
Does FTS pay dividends?
Yes, Fortis pays a regular dividend. The company has a long track record of dividend growth, supported by predictable cash flows from its regulated utility operations. Income-focused investors often include FTS in dividend-oriented portfolios. For current yield and payment dates, check Fortis's investor relations page.
When does FTS report earnings?
Fortis reports earnings quarterly, in line with standard practice for exchange-listed utilities. Exact dates vary by quarter. For upcoming reporting dates, refer to the investor relations section of the Fortis Inc. website.
Is FTS a good stock to buy?
UQS Score rates FTS as Below Average overall. The Valuation pillar is rated Good, which may appeal to value-conscious investors, but the Weak Risk pillar reflects meaningful financial leverage. Whether FTS suits your portfolio depends on your income needs, risk tolerance, and time horizon. The full pillar breakdown is available to Pro members.
Is FTS overvalued?
The UQS Valuation pillar for FTS is rated Good, suggesting the stock is not significantly overpriced relative to its fundamentals at the time of scoring. Valuation for regulated utilities is often assessed relative to rate-base growth and dividend yield rather than earnings multiples alone.
How does FTS compare to its competitors?
Fortis stands out for its geographic diversification across Canadian provinces, US states, and the Caribbean — broader than many North American peers. Competitors like FirstEnergy, PPL, and CenterPoint Energy are more concentrated in specific US regions. Each carries different regulatory and capital structure dynamics.
What is FTS's market cap bracket?
Fortis Inc. is classified as a large-cap company. This places it among the more substantial regulated utilities listed in North America, with a scale that supports access to capital markets for ongoing infrastructure investment.
Who founded Fortis Inc.?
Fortis Inc. traces its roots to Newfoundland Light and Power, with the Fortis name and corporate structure evolving over decades of utility acquisitions. The company in its current incorporated form dates to 2010. Detailed founding history is publicly available through Fortis's corporate website.
Is FTS a long-term quality investment?
As a long-term quality indicator, FTS scores Below Average on the UQS composite. The regulated business model provides revenue stability, but the Weak Risk pillar — driven by leverage — tempers the long-term quality case. Investors seeking regulated utility exposure should weigh balance sheet constraints alongside dividend consistency.
What is the main competitive advantage of Fortis Inc.?
Fortis's primary advantage lies in its regulated utility model, which provides predictable, government-approved returns on invested capital. Geographic diversification across multiple regulatory jurisdictions reduces dependence on any single regulator or market, offering a degree of earnings stability uncommon in unregulated industries.
What sector does FTS belong to?
Fortis Inc. operates in the Utilities sector, specifically within regulated electric and gas distribution and transmission. Utilities are generally considered defensive investments, characterized by stable demand, regulated pricing, and above-average dividend yields relative to the broader market.
Is FTS a growth stock or value stock?
Based on UQS pillar labels, FTS leans toward the value end of the spectrum. The Growth pillar is rated Neutral — consistent with the slow, steady rate-base expansion typical of regulated utilities — while the Valuation pillar is rated Good, suggesting the stock is not priced at a growth premium.
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Pro Analysis
FTS — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 48.5 | 49.3 | 55.0 | 50.8 | 9.3 | 72.6 | -1.5 |
| May 10, 2026 | 50.0 | 33.3 | 55.0 | 52.6 | 39.2 | 76.7 | -0.1 |
| May 8, 2026 | 50.1 | 33.3 | 55.0 | 53.1 | 39.2 | 76.9 | +0.6 |
| May 7, 2026 | 49.5 | 49.4 | 55.0 | 54.1 | 9.3 | 74.6 | +0.1 |
| May 6, 2026 | 49.4 | 49.4 | 55.0 | 54.1 | 9.3 | 73.8 | +0.5 |
| May 3, 2026 | 48.9 | 49.4 | 55.0 | 52.2 | 9.3 | 72.9 | -0.1 |
| May 2, 2026 | 49.0 | 49.4 | 55.0 | 52.2 | 9.3 | 73.5 | +0.6 |
| Apr 28, 2026 | 48.4 | 49.4 | 55.0 | 49.9 | 9.3 | 73.1 | -0.2 |
| Apr 26, 2026 | 48.6 | 49.4 | 55.0 | 50.3 | 9.3 | 73.3 | +0.1 |
| Apr 25, 2026 | 48.5 | 49.4 | 55.0 | 50.3 | 9.3 | 73.2 | 0.0 |
FTS — Pillar Breakdown
Quality
— 49.3/100 (25%)Fortis Inc. has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 50.8/100 (20%)Fortis Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 9.3/100 (15%)Fortis Inc. presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 72.2/100 (15%)Fortis Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 55/100 (25%)Fortis Inc. has meaningful competitive advantages that should protect its market position. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for FTS.
Score Composition
Financial Data
More Stock Analysis
How is the FTS UQS Score Calculated?
The UQS (Unified Quality Score) for Fortis Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Fortis Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Fortis Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.