Companies: 10,795·Total market cap: $144.5T
Fortis Inc.

Fortis Inc.

FTS.TOTSXUtilities● Active
$77.83
+$1.09(+1.42%)
Market Cap$39.6B
P/E Ratio—
52W High$80.69
52W Low$63.54
Free Cash FlowFinancialsRevenue

Fortis Inc. (FTS.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FTS.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was −$2.17B for FY2025 (fiscal year ending 2025-12-31), down 62.6% year-over-year The FCF margin was -17.9%.

FY2025 Free Cash Flow−$2.17B▼ -62.6% YoY
Trailing 12M (TTM)−$2.15Btrailing 4 quarters sum
FCF Margin-17.9%−$2.17B ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
fts.to free cash flow history · fts.to free cash flow chart · fts.to free cash flow growth rate · fts.to free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest−$2.17B▼ 62.6%-17.9%
FY2024−$1.34B▼ 114.1%-11.6%
FY2023−$624.0M▲ +21.1%-5.4%
FY2022−$791.0M▼ 65.1%-7.2%
FY2021−$479.0M▲ +64.2%-5.1%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
fts.to free cash flow 2025 · fts.to free cash flow 2024 · fts.to free cash flow 2023 · fts.to operating cash flow

FCF valuation metrics

Fortis Inc. (FTS.TO) reported negative free cash flow of −$2.17B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)
N/A
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
N/A
TTM FCF ÷ Shares Outstanding
Price / FCF
N/A
Share Price ÷ FCF per Share
EV / FCF (TTM)
N/A
Enterprise Value basis
!

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
fts.to price to free cash flow · fts.to free cash flow yield · fts.to free cash flow per share · fts.to price to cash flow ratio

Cash flow statement summary

For FY2025, Fortis Inc. generated $4.06B in operating cash flow and spent 6.23B in capital expenditures, yielding −$2.17B in free cash flow.

Operating Activities
+$4.06B
Cash from core business operations
2025-12-31
Investing Activities
−$5.36B
CapEx, acquisitions & investments
2025-12-31
Financing Activities
+$1.46B
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($4.06B) − |CapEx| (6.23B) = FCF (−$2.17B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
fts.to cash flow statement · fts.to cash flow statement 2025 · fts.to operating cash flow · fts.to cash flow from operations

Free cash flow vs peers (Utilities)

#CompanyFree Cash FlowYoY
#1
Fortis Inc.
Fortis Inc.YOU
FTS.TO
−$2.17B-62.6%
#2
GE Vernova Inc.
GE Vernova Inc.
GEV
$3.71B+118.3%#3
NextEra Energy, Inc.
NextEra Energy, Inc.
NEE
$3.21B-32.3%#4
Constellation Energy Corporation
Constellation Energy Corporation
CEG
$1.29B+125.6%#5
Duke Energy Corporation
Duke Energy Corporation
DUK
−$1.67B-3583.3%#6
The Southern Company
The Southern Company
SO
−$3.59B-531.0%
Utilities · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Fortis Inc. (FTS.TO) reported free cash flow of −$2.17B for FY2025 (fiscal year ending 2025-12-31), down 62.6% year-over-year. The FCF margin was -17.9%.

Fortis Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 15 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

FTS.TO free cash flow · 8 questions

Fortis Inc. free cash flow was −$2.17B for FY2025, down 62.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$2.15B.

FTS.TO free cash flowFTS.TO FCFFTS.TO FCF 2025FTS.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Fortis Inc. · Fortis Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026