Company Valuation: Fortis Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,861 26,023 26,627 29,823 35,794 39,896 - -
Change - -9.83% 2.32% 12% 20.02% 11.46% - -
Enterprise Value (EV) 1 54,645 54,815 55,991 62,915 69,708 76,889 79,238 80,868
Change - 0.31% 2.15% 12.37% 10.8% 10.3% 3.06% 2.06%
P/E 23.4x 19.5x 17.6x 18.4x 21x 21.6x 20.3x 19x
PBR 1.5x 1.24x 1.24x 1.25x 1.52x 1.74x 1.6x 1.54x
PEG - 2.99x 1.5x 4.07x 4.25x 3.26x 3.02x 2.83x
Capitalization / Revenue 3.05x 2.36x 2.31x 2.59x 2.94x 2.98x 2.85x 2.7x
EV / Revenue 5.78x 4.96x 4.86x 5.47x 5.73x 5.74x 5.66x 5.47x
EV / EBITDA 13.8x 12.4x 11.5x 12.1x 12.6x 12.5x 11.9x 11.1x
EV / EBIT 22.1x 20x 18.2x 19.1x 20x 20x 19.1x 17.8x
EV / FCF -114x -69.3x -89.7x -47.1x -32.1x -109x -325x 219x
FCF Yield -0.88% -1.44% -1.11% -2.12% -3.12% -0.92% -0.31% 0.46%
Dividend per Share 2 2.05 2.17 2.29 2.39 2.49 2.593 2.703 2.824
Rate of return 3.36% 4.01% 4.2% 4% 3.49% 3.31% 3.45% 3.6%
EPS 2 2.61 2.78 3.1 3.24 3.4 3.625 3.868 4.128
Distribution rate 78.5% 78.1% 73.9% 73.8% 73.2% 71.5% 69.9% 68.4%
Net sales 1 9,448 11,043 11,517 11,508 12,170 13,393 14,011 14,772
EBITDA 1 3,974 4,408 4,857 5,219 5,549 6,167 6,632 7,263
EBIT 1 2,469 2,740 3,084 3,292 3,492 3,853 4,143 4,554
Net income 1 1,231 1,330 1,506 1,606 1,714 1,860 1,979 2,183
Net Debt 1 25,784 28,792 29,364 33,092 33,914 36,993 39,342 40,972
Reference price 2 61.03 54.18 54.51 59.73 71.36 78.36 78.36 78.36
Nbr of stocks (in thousands) 472,893 480,308 488,477 499,301 501,595 509,133 - -
Announcement Date 2/11/22 2/10/23 2/9/24 2/14/25 2/12/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.98x5.97x43.65x0.19% 287B
21.41x9.24x15.76x2.86% 180B
19.82x4.13x11.35x3.6% 151B
13.04x1.88x6.7x5.43% 109B
20.65x5.93x13.13x3.28% 106B
21.78x3.26x13.98x0.62% 98.57B
18.28x5.59x11.29x3.52% 96.36B
19.87x5.16x12.55x3.04% 68.88B
19.16x6.33x13.52x3.88% 60.48B
Average 21.00x 5.28x 15.77x 2.94% 128.65B
Weighted average by Cap. 23.28x 5.56x 20.18x 2.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield