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Fortis Valuation Multiples
Discover revenue and EBITDA valuation multiples for Fortis and similar public comparables like FirstEnergy, Naturgy Energy Group, Cheniere Energy Partners, PPL Corp. and more.
Fortis Overview
About Fortis
Fortis owns and operates eight utility transmission and distribution subsidiaries in Canada and the United States, serving roughly 3.5 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. Subsidiary ITC operates electric transmission in seven US states, with more than 16,000 miles of high-voltage transmission lines in operation.
Founded
1987
HQ
Employees
9.9K
Website
Sectors
Financials (LTM)
EV
$55B
Fortis Financials
Fortis reported last 12-month revenue of $9B and EBITDA of $4B.
In the same LTM period, Fortis generated $7B in gross profit, $4B in EBITDA, and $1B in net income.
Revenue (LTM)
Fortis P&L
In the most recent fiscal year, Fortis reported revenue of $9B and EBITDA of $4B.
Fortis expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $9B | XXX | $9B | XXX | XXX | XXX |
| Gross Profit | $7B | XXX | $6B | XXX | XXX | XXX |
| Gross Margin | 74% | XXX | 71% | XXX | XXX | XXX |
| EBITDA | $4B | XXX | $4B | XXX | XXX | XXX |
| EBITDA Margin | 47% | XXX | 47% | XXX | XXX | XXX |
| EBIT Margin | 18% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 14% | XXX | 14% | XXX | XXX | XXX |
| Net Debt | — | — | $25B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Fortis Stock Performance
Fortis has current market cap of $29B, and enterprise value of $55B.
Market Cap Evolution
Fortis' stock price is $56.57.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $55B | $29B | -0.5% | XXX | XXX | XXX | $2.57 |
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Start Free TrialFortis Valuation Multiples
Fortis trades at 6.0x EV/Revenue multiple, and 12.7x EV/EBITDA.
EV / Revenue (LTM)
Fortis Financial Valuation Multiples
As of April 20, 2026, Fortis has market cap of $29B and EV of $55B.
Equity research analysts estimate Fortis' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Fortis has a P/E ratio of 21.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $29B | XXX | $29B | XXX | XXX | XXX |
| EV (current) | $55B | XXX | $55B | XXX | XXX | XXX |
| EV/Revenue | 6.0x | XXX | 6.1x | XXX | XXX | XXX |
| EV/EBITDA | 12.7x | XXX | 12.8x | XXX | XXX | XXX |
| EV/EBIT | 33.0x | XXX | 21.7x | XXX | XXX | XXX |
| EV/Gross Profit | 8.1x | XXX | 8.6x | XXX | XXX | XXX |
| P/E | 21.8x | XXX | 22.0x | XXX | XXX | XXX |
| EV/FCF | 52.5x | XXX | 37.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Fortis Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Fortis Margins & Growth Rates
Fortis' revenue in the last 12 month grew by 6%.
Fortis' revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.4M for the same period.
Fortis' rule of 40 is 56% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Fortis' rule of X is 70% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Fortis Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 7% | XXX | XXX | XXX |
| EBITDA Margin | 47% | XXX | 47% | XXX | XXX | XXX |
| EBITDA Growth | 7% | XXX | 7% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 56% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 70% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.9M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 43% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Fortis Public Comps
See public comps and valuation multiples for other Utilities comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Fortis | XXX | XXX | XXX | XXX | XXX | XXX |
| FirstEnergy | XXX | XXX | XXX | XXX | XXX | XXX |
| Naturgy Energy Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Cheniere Energy Partners | XXX | XXX | XXX | XXX | XXX | XXX |
| PPL Corp. | XXX | XXX | XXX | XXX | XXX | XXX |
| CenterPoint Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Fortis M&A Activity
Fortis acquired XXX companies to date.
Last acquisition by Fortis was on XXXXXXXX, XXXXX. Fortis acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Fortis
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialFortis Investment Activity
Fortis invested in XXX companies to date.
Fortis made its latest investment on XXXXXXXX, XXXXX. Fortis invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Fortis
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Fortis
| When was Fortis founded? | Fortis was founded in 1987. |
| Where is Fortis headquartered? | Fortis is headquartered in Canada. |
| How many employees does Fortis have? | As of today, Fortis has over 9K employees. |
| Who is the CEO of Fortis? | Fortis' CEO is David G. Hutchens. |
| Is Fortis publicly listed? | Yes, Fortis is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Fortis? | Fortis trades under FTS ticker. |
| When did Fortis go public? | Fortis went public in 1969. |
| Who are competitors of Fortis? | Fortis main competitors are FirstEnergy, Naturgy Energy Group, Cheniere Energy Partners, PPL Corp.. |
| What is the current market cap of Fortis? | Fortis' current market cap is $29B. |
| What is the current revenue of Fortis? | Fortis' last 12 months revenue is $9B. |
| What is the current revenue growth of Fortis? | Fortis revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of Fortis? | Current revenue multiple of Fortis is 6.0x. |
| Is Fortis profitable? | Yes, Fortis is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Fortis? | Fortis' last 12 months EBITDA is $4B. |
| What is Fortis' EBITDA margin? | Fortis' last 12 months EBITDA margin is 47%. |
| What is the current EV/EBITDA multiple of Fortis? | Current EBITDA multiple of Fortis is 12.7x. |
| What is the current FCF of Fortis? | Fortis' last 12 months FCF is $1B. |
| What is Fortis' FCF margin? | Fortis' last 12 months FCF margin is 11%. |
| What is the current EV/FCF multiple of Fortis? | Current FCF multiple of Fortis is 52.5x. |
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