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Hydro One Valuation Multiples
Discover revenue and EBITDA valuation multiples for Hydro One and similar public comparables like American Water Works, Verbund, Eversource Energy, China National Nuclear and more.
Hydro One Overview
About Hydro One
Hydro One operates regulated transmission and distribution assets in Ontario. The area's largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company's rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business with annual revenue contributing less than 1% to consolidated results. The province of Ontario holds an approximate 47.5% common equity stake.
Founded
2015
HQ
Employees
9.1K
Website
Sectors
Financials (LTM)
EV
$39B
Hydro One Financials
Hydro One reported last 12-month revenue of $7B and EBITDA of $2B.
In the same LTM period, Hydro One generated $2B in EBITDA and $992M in net income.
Revenue (LTM)
Hydro One P&L
In the most recent fiscal year, Hydro One reported revenue of $7B and EBITDA of $2B.
Hydro One expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $7B | XXX | $7B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 37% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 37% | XXX | 37% | XXX | XXX | XXX |
| EBIT Margin | 25% | XXX | 26% | XXX | XXX | XXX |
| Net Profit | $992M | XXX | $989M | XXX | XXX | XXX |
| Net Margin | 15% | XXX | 15% | XXX | XXX | XXX |
| Net Debt | — | — | $13B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Hydro One Stock Performance
Hydro One has current market cap of $25B, and enterprise value of $39B.
Market Cap Evolution
Hydro One's stock price is $42.32.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $39B | $25B | -0.5% | XXX | XXX | XXX | $1.65 |
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Start Free TrialHydro One Valuation Multiples
Hydro One trades at 5.8x EV/Revenue multiple, and 15.6x EV/EBITDA.
EV / Revenue (LTM)
Hydro One Financial Valuation Multiples
As of April 20, 2026, Hydro One has market cap of $25B and EV of $39B.
Equity research analysts estimate Hydro One's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Hydro One has a P/E ratio of 25.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $25B | XXX | $25B | XXX | XXX | XXX |
| EV (current) | $39B | XXX | $39B | XXX | XXX | XXX |
| EV/Revenue | 5.8x | XXX | 5.9x | XXX | XXX | XXX |
| EV/EBITDA | 15.6x | XXX | 15.8x | XXX | XXX | XXX |
| EV/EBIT | 23.5x | XXX | 22.5x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 16.0x | XXX | XXX | XXX |
| P/E | 25.6x | XXX | 25.7x | XXX | XXX | XXX |
| EV/FCF | 82571.3x | XXX | (848.4x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Hydro One 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.
Hydro One Margins & Growth Rates
Hydro One's revenue in the last 12 month grew by 2%.
Hydro One's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.1M for the same period.
Hydro One's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Hydro One's rule of X is 46% (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).
Hydro One Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 37% | XXX | 37% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | 5% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 46% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 11% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Hydro One Public Comps
See public comps and valuation multiples for other Utilities comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Hydro One | XXX | XXX | XXX | XXX | XXX | XXX |
| American Water Works | XXX | XXX | XXX | XXX | XXX | XXX |
| Verbund | XXX | XXX | XXX | XXX | XXX | XXX |
| Eversource Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| China National Nuclear | XXX | XXX | XXX | XXX | XXX | XXX |
| Snam | 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.
Hydro One M&A Activity
Hydro One acquired XXX companies to date.
Last acquisition by Hydro One was on XXXXXXXX, XXXXX. Hydro One acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Hydro One
| 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 TrialHydro One Investment Activity
Hydro One invested in XXX companies to date.
Hydro One made its latest investment on XXXXXXXX, XXXXX. Hydro One invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Hydro One
| 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 Hydro One
| When was Hydro One founded? | Hydro One was founded in 2015. |
| Where is Hydro One headquartered? | Hydro One is headquartered in Canada. |
| How many employees does Hydro One have? | As of today, Hydro One has over 9K employees. |
| Who is the CEO of Hydro One? | Hydro One's CEO is David Lebeter. |
| Is Hydro One publicly listed? | Yes, Hydro One is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Hydro One? | Hydro One trades under H ticker. |
| When did Hydro One go public? | Hydro One went public in 2015. |
| Who are competitors of Hydro One? | Hydro One main competitors are American Water Works, Verbund, Eversource Energy, China National Nuclear. |
| What is the current market cap of Hydro One? | Hydro One's current market cap is $25B. |
| What is the current revenue of Hydro One? | Hydro One's last 12 months revenue is $7B. |
| What is the current revenue growth of Hydro One? | Hydro One revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of Hydro One? | Current revenue multiple of Hydro One is 5.8x. |
| Is Hydro One profitable? | Yes, Hydro One is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Hydro One? | Hydro One's last 12 months EBITDA is $2B. |
| What is Hydro One's EBITDA margin? | Hydro One's last 12 months EBITDA margin is 37%. |
| What is the current EV/EBITDA multiple of Hydro One? | Current EBITDA multiple of Hydro One is 15.6x. |
| What is the current FCF of Hydro One? | Hydro One's last 12 months FCF is $471K. |
| What is Hydro One's FCF margin? | Hydro One's last 12 months FCF margin is 0%. |
| What is the current EV/FCF multiple of Hydro One? | Current FCF multiple of Hydro One is 82571.3x. |
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