Fortis Inc. (FTS) Income Statement

NYSE: FTSRevenue, profits, margins and EPS over 10 years.

FTS 2025 at a glance

Fiscal year ended December 31, 2025 · Canadian dollars
Revenue+5.8%
C$12.17B
2025 · hover or tap a bar for each year
2016: C$6.84B (+1.2%)2017: C$8.30B (+21.4%)2018: C$8.39B (+1.1%)2019: C$8.78B (+4.7%)2020: C$8.94B (+1.7%)2021: C$9.45B (+5.7%)2022: C$11.04B (+16.9%)2023: C$11.52B (+4.3%)2024: C$11.51B (−0.1%)2025: C$12.17B (+5.8%)
20162025
Gross profit+6.5%
C$8.80B
2025 · hover or tap a bar for each year
2016: C$4.50B (+7.9%)2017: C$5.94B (+32.1%)2018: C$3.61B (−39.3%)2019: C$6.26B (+73.6%)2020: C$6.37B (+1.8%)2021: C$6.50B (+1.9%)2022: C$7.09B (+9.1%)2023: C$7.75B (+9.2%)2024: C$8.26B (+6.6%)2025: C$8.80B (+6.5%)
20162025
Operating income+6.1%
C$3.49B
2025 · hover or tap a bar for each year
2016: C$1.48B (+4.5%)2017: C$2.51B (+69.3%)2018: C$2.37B (−5.8%)2019: C$3.04B (+28.5%)2020: C$2.51B (−17.4%)2021: C$2.47B (−1.6%)2022: C$2.74B (+11.0%)2023: C$3.08B (+12.6%)2024: C$3.29B (+6.7%)2025: C$3.49B (+6.1%)
20162025
Net income+7.1%
C$1.80B
2025 · hover or tap a bar for each year
2016: C$660.0M (−18.0%)2017: C$1.03B (+55.8%)2018: C$1.17B (+13.4%)2019: C$1.72B (+47.7%)2020: C$1.27B (−26.0%)2021: C$1.29B (+1.6%)2022: C$1.39B (+7.7%)2023: C$1.57B (+12.8%)2024: C$1.68B (+6.8%)2025: C$1.80B (+7.1%)
20162025
Net profit margin+0.2 pts
14.8%
2025 · hover or tap a point for each year
2016: 9.7% (−2.3 pts)2017: 12.4% (+2.7 pts)2018: 13.9% (+1.5 pts)2019: 19.6% (+5.7 pts)2020: 14.3% (−5.3 pts)2021: 13.7% (−0.6 pts)2022: 12.6% (−1.1 pts)2023: 13.7% (+1.0 pts)2024: 14.6% (+0.9 pts)2025: 14.8% (+0.2 pts)
20162025

FTS revenue and net income

RevenueNet incomeNet margin (right axis)

Where FTS's revenue goes

2025
Revenue
C$12.17B100.0%
Cost of revenue
−C$3.37B−27.7%
Gross profit
C$8.80B72.3%
Other operating expenses
−C$5.31B−43.6%
Operating income
C$3.49B28.7%
Interest & other expense
−C$1.14B−9.4%
Income taxes
−C$393.0M−3.2%
Net income
C$1.80B14.8%

Each bar shows an amount and its share of revenue. FTS kept 14.8% of revenue as net income.

FTS profit margins

GrossOperatingNet

FTS growth rates

to 2025
1 year3 years5 years10 years
Revenue+5.8%+3.3%+6.4%+6.1%
Gross profit+6.5%+7.5%+6.7%+7.8%
Operating income+6.1%+8.4%+6.8%+9.4%
Net income+7.1%+8.9%+7.1%+8.4%

1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.

FTS income statement in Canadian dollars

2025202420232022202120202019201820172016
RevenueC$12.17BC$11.51BC$11.52BC$11.04BC$9.45BC$8.94BC$8.78BC$8.39BC$8.30BC$6.84B
Cost of revenueC$3.37BC$3.25BC$3.77BC$3.95BC$2.95BC$2.56BC$2.52BC$4.78BC$2.36BC$2.34B
Gross profitC$8.80BC$8.26BC$7.75BC$7.09BC$6.50BC$6.37BC$6.26BC$3.61BC$5.94BC$4.50B
Research & development——————C$0C$0C$0C$0
Sales, general & admin——————C$477,403C$1.0MC$11.0MC$317,232
Total operating expensesC$5.31BC$4.97BC$4.66BC$4.35BC$4.03BC$3.87BC$3.23BC$3.53BC$3.43BC$3.01B
Operating incomeC$3.49BC$3.29BC$3.08BC$2.74BC$2.47BC$2.51BC$3.04BC$2.37BC$2.51BC$1.48B
Interest incomeC$43.0MC$64.0MC$76.0MC$11.0MC$5.0MC$13.0MC$1.00BC$960.0MC$870.0MC$654.0M
Interest expenseC$1.48BC$1.41BC$1.30BC$1.10BC$1.00BC$1.04BC$1.03BC$974.0MC$914.0MC$678.0M
Income before taxesC$2.35BC$2.17BC$2.07BC$1.80BC$1.64BC$1.62BC$2.14BC$1.45BC$1.71BC$858.0M
Income taxesC$393.0MC$346.0MC$360.0MC$289.0MC$234.0MC$231.0MC$289.0MC$165.0MC$588.0MC$145.0M
Net incomeC$1.80BC$1.68BC$1.57BC$1.39BC$1.29BC$1.27BC$1.72BC$1.17BC$1.03BC$660.0M
EBITDAC$5.89BC$5.51BC$5.15BC$4.57BC$4.15BC$4.09BC$4.53BC$3.67BC$3.65BC$2.52B
Gross margin72.3%71.8%67.3%64.2%68.8%71.3%71.3%43.0%71.6%65.8%
Operating margin28.7%28.6%26.8%24.8%26.1%28.1%34.6%28.2%30.2%21.7%
Net margin14.8%14.6%13.7%12.6%13.7%14.3%19.6%13.9%12.4%9.7%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported in FTS's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.

FTS financial results

In fiscal year 2025 (ended December 31, 2025), Fortis reported revenue of C$12.2 billion, up 5.8% from the year before. It had net income of C$1.8 billion (up 7.1%), a net profit margin of 14.8%. Over five years revenue grew at an average rate of 6.4% a year. Figures are in Canadian dollars, the currency of its financial statements.

See the FTS stock overview for the latest quote and news, or the FTS chart for price history and technical indicators.

FTS income statement FAQ

What is Fortis's annual revenue?

Fortis reported total revenue of C$12.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 5.8% from C$11.5 billion the previous year.

Is Fortis profitable?

Yes. Fortis reported net income of C$1.8 billion in fiscal 2025, a net profit margin of 14.8%; its operating margin was 28.7%.

What is Fortis's gross margin?

Fortis's gross margin was 72.3% in fiscal 2025: for every $100 of revenue, Fortis kept $72 after the direct cost of its products and services.

How fast is Fortis growing?

Revenue grew 6.4% a year on average over the last five fiscal years, from C$8.9 billion to C$12.2 billion.

When will Fortis report its next earnings?

Fortis is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.

When does Fortis's fiscal year end?

Fortis's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.

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