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Fortis Inc (FTS) fair value: what the stock is really worth

We calculate from audited financials what Fortis Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Utilities · US · ISIN CA3495531079

FI Fortis Inc logo Broad data Sep 17, 2026

Fortis Inc

FTS · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $28.13 · Strongly overvalued (−48%)
!Quality 38/100
!Expensive Growth (revenue 5y +6.4 %/yr)
✓Solidly profitable · 14.7% net margin (TTM)
!Moderate debt · negative free cash flow
·4.64% dividend yield
!Trails peers (4/14)
!Moderate moat 58/100
!Insider activity 35/100
!Weak on future: 10 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$58.84 $30.62 Fair Value $28.13 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 17, 2026.

How to read this chart

60‑month range $30.62 – $58.84 · fair‑value band $28.13 – $36.77 · the $54.10 price screens above the $28.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 17, 2026.

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Company profile

Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries.

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Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. The company generates, transmits, and distributes electricity to approximately 459,000 retail customers in southeastern Arizona, including the greater Tucson metropolitan area; and 107,000 retail customers in southeastern Arizona with an aggregate capacity of 3, 443 megawatts (MW). It also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 43 MW; and distributes natural gas to approximately 1,105,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 615,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 70,000 customers in Ontario; approximately 280,000 customers in Newfoundland; approximately 35,000 customers on Grand Cayman, Cayman Islands; and approximately 92,000 customers on Maritime Electric. It also owns and operates approximately 91,100 circuit Kilometers (km) of distribution lines; and approximately 51,700 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

Stock analysis

Fortis Inc (FTS) currently trades at $54.10, while our model-based Fair Value estimate is $28.13, implying the stock looks roughly 92.3% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of $53.83 per share, and 4 of the 16 models we run sit above the $54.10 price.

Bear case: the Economic Profit group reads lowest at $8.01, and 12 of the 16 models stay below the price. Evidence for this calculation is high.

Scenario range: $28.13 (bear) to $36.77 (bull), the price of $54.10 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 38/100 (below-average quality), in the Utilities sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Fortis Inc reported revenue of C$12.2B in FY2025 versus C$9.4B in FY2021, a compound +6.5%/yr. Reported net income was C$1.8B in FY2025, compounding +8.6%/yr from FY2021.

Key figures

Market cap $28.6B · P/E ratio 22.0 · P/S ratio 3.25 · EPS (TTM) $2.46 · Dividend yield 4.6% · Net margin 14.8% · Return on equity 7.5% · Return on assets (EBIT) 4.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at −48%, FTS screens richer than that median.

Fair Value models

Bear $28.13 Fair Value $28.13 Bull $36.77
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income $38.64 $41.16 $45.24 76
EPV n/a $8.01 $16.46 68
ROIC Compounder n/a $8.01 $16.46 68
All 16 models by family
Earnings-Based
Graham-Dodd $24.03 $93.63 $127.02 64
Lynch FV $23.00 $32.86 $42.72 61
PEG = 1.0 $23.00 $32.86 $42.72 57
EPV n/a $8.01 $16.46 68
Dividend Discount
Gordon GGM $15.74 $32.73 $51.93 66
DDM Multi-Stage $15.74 $27.60 $34.36 66
Multiples
P/E Multiple $47.70 $63.60 $79.50 63
P/S Multiple $44.82 $59.76 $74.70 58
P/B Multiple $45.05 $60.07 $75.09 55
EV/EBIT $17.54 $43.26 $68.98 61
EV/EBITDA $22.12 $49.37 $76.61 63
EV/Revenue n/a $0.1400 $18.06 50
Asset-Based
NCAV (Graham) $23.38 $31.33 $46.77 54
Economic Profit
Residual Income $38.64 $41.16 $45.24 76
ROIC Compounder n/a $8.01 $16.46 68
Growth Earnings
Growth-Adj P/E $37.68 $53.83 $69.98 67

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Quality Score breakdown

Overall quality 38/100

Of which business quality 37 · Market factors (momentum, volatility) 63

Profitability 31
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 30
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.4%
Revenue growth 30 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.6%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.9%
Dividend (yield on the price)4.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.4% vs 5%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.28% → 29%

FTS screens 92% overvalued. Compare with NextEra Energy, Inc →

Earlier news

News mood ⓘNews mood, the average tone of recent news (93 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 156 stocks

Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside −56% · Bottom 25%
Profitability
Return on equity (TTM) 7% · Below median
Return on assets 3% · Below median
Net margin (TTM) 15% · Above median
Operating margin (TTM) 29% · Top 25%
Growth and dividend
Revenue growth 2% · Below median
Dividend yield (TTM) 4.6% · Top 25%
Balance sheet
Debt / equity 1.29× · Above median

Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 22.0× · Pricier than median
P/B 1.25× · Cheaper than median
P/S (TTM) 2.44× · Pricier than median
EV/EBITDA 10.7× · Pricier than median
PEG 2.90× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 8
FUTURE (revenue growth)10 · sector 32
PAST (return on equity)30 · sector 39
HEALTH (low debt)36 · sector 53
DIVIDEND (yield)93 · sector 68

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $81.07 $29.88 −63%
The Southern Company SO $85.95 $58.74 −32%
Duke Energy Corporation DUK $117.76 $74.89 −36%
National Grid plc NGG $76.86 $50.23 −35%
American Electric Power Company AEP $120.69 $77.23 −36%
Dominion Energy, Inc D $63.87 $37.67 −41%
Entergy Corporation ETR $102.92 $38.37 −63%
Xcel Energy Inc XEL $72.49 $44.61 −38%
Exelon Corporation EXC $42.44 $36.26 −15%
Consolidated Edison, Inc ED $105.24 $47.92 −54%

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Fortis Inc · Fair Value
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Cite: Fair Value Calculator (2026). "Fortis Inc Fair Value". https://www.fairvalue-calculator.com/stock/FTS

Frequently asked questions

Is Fortis Inc (FTS) overvalued or undervalued?
As of Sep 17, 2026, our model estimates a fair value of $28.13 versus a price of $54.10, about −48% upside (overvalued).
What is the fair value of FTS?
Our model-based fair value for Fortis Inc is $28.13 (as of Sep 17, 2026), built from audited fundamentals. The current price: $54.10.
What is the quality score of FTS?
Fortis Inc has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Fortis Inc (FTS)?
Our model-based price target is the fair value of $28.13 (as of Sep 17, 2026) from 16 valuation models. Cautious scenario $28.13, optimistic scenario $36.77. It is a calculation from audited fundamentals, not an analyst target.
What is the Fortis Inc stock forecast for 2026?
Our models put fair value at $28.13, about −48% upside versus a price of $54.10 (overvalued). Cautious scenario $28.13, optimistic scenario $36.77. The calculation is refreshed regularly with new filings.
What is the revenue of Fortis Inc (FTS)?
Fortis Inc reported trailing-twelve-month revenue of about $12.2B (latest available figure, as of Sep 17, 2026).
Does Fortis Inc pay a dividend?
Fortis Inc currently shows a dividend yield of about 4.64% relative to its recent price (as of Sep 17, 2026).
What is the intrinsic value of Fortis Inc (FTS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fortis Inc it is $28.13 per share (as of Sep 17, 2026), against a price of $54.10. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Fortis Inc stock overvalued or undervalued in 2026?
As of Sep 17, 2026, FTS trades above its calculated fair value: price $54.10, fair value $28.13, a gap of about −48% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FTS?
No. The price is what the market pays today ($54.10); the fair value is what the company's own numbers justify ($28.13). For Fortis Inc the two are $25.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fortis Inc worth?
The market values Fortis Inc at about $28.6B (market capitalisation, as of Sep 17, 2026). Per share that is $54.10; our models calculate a fair value of $28.13 per share.
What do the bullish and bearish scenarios say about FTS?
Our models span a range for Fortis Inc: cautious scenario $28.13, base $28.13, optimistic $36.77 per share (as of Sep 17, 2026, price $54.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FTS?
Fortis Inc trades at a price-to-earnings ratio of 22.0 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $28.13 is built from several models across several years. Other multiples: PEG 2.9, P/B 1.3, P/S 2.4, EV/EBITDA 10.7.
What is the PEG ratio of FTS?
The PEG ratio of Fortis Inc is 2.90 (P/E divided by earnings growth, as of Sep 17, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Fortis Inc (FTS)?
Balance-sheet figures for Fortis Inc (as of Sep 17, 2026): return on equity 7.5%, debt of 1.29 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is FTS from its 52-week high?
Fortis Inc trades at $54.10, about 7% below its 52-week high of $58.29 and 20% above the low of $44.90 (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of $28.13 is for.
Which stocks are comparable to Fortis Inc?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, National Grid plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Fortis Inc stock attractive at the current price?
The data as of Sep 17, 2026: price $54.10, calculated fair value $28.13 (−48%), Quality Score 38/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FTS calculated?
We run Fortis Inc through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $28.13, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Fortis Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Fortis Inc (FTS)?
The closing price on Sep 18, 2026 was $54.10. Our model-based fair value is $28.13, about −48% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fortis Inc right now?
The price sits above even our optimistic bull case ($36.77). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of Fortis Inc (FTS) come from?
Earnings per share at Fortis Inc grew +4.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.1 %, EBIT margin +3.4 %, tax rate +0.2 %, residual (interest, one-offs) +0.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Fortis Inc

How large is the market capitalisation of Fortis Inc (FTS)?
The market capitalisation of Fortis Inc is $28.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Fortis Inc (FTS)?
The price-to-sales ratio of Fortis Inc is 3.25 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fortis Inc (FTS)?
Earnings per share at Fortis Inc are $2.46 (price ÷ EPS = P/E 22.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fortis Inc (FTS)?
The dividend yield of Fortis Inc is 4.6% (payout 102%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Fortis Inc (FTS)?
The net margin of Fortis Inc is 14.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Fortis Inc (FTS)?
The return on equity (ROE) of Fortis Inc is 7.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Fortis Inc (FTS)?
On an EBIT basis the return on assets of Fortis Inc is 4.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Fortis Inc (FTS)?
The operating margin of Fortis Inc is 28.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fortis Inc (FTS)?
Revenue at Fortis Inc is growing +1.9% versus a year earlier (3y avg +3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Fortis Inc (FTS)?
Earnings per share at Fortis Inc are growing −1.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fortis Inc (FTS) generate?
The free cash flow of Fortis Inc is −$2.2B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Fortis Inc (FTS) carry?
The net debt of Fortis Inc is $34.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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