Fortis
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
15.1014.3914.0513.28
Price/Sales ratio
1.911.871.991.90
Earnings per Share (EPS)
$3.34$3.50$3.59$3.79

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
23.0612.8719.4118.6416.5813.6618.9922.2018.6117.5818.0016.58
Price/Sales ratio
1.611.541.872.302.302.672.703.042.342.402.622.30
Price/Book Value ratio
1.001.040.871.271.161.261.291.481.231.281.331.16
Price/Cash Flow ratio
8.906.196.806.957.428.838.969.888.447.808.167.42
Price/Free Cash Flow ratio
-11.76-18.18-72.40-71.52-31.48-22.26-18.08-59.98-32.80-44.32-28.38-31.48
Price/Earnings Growth ratio
-1.210.15-0.700.810.890.36-0.6057.732.852.714.020.89
Dividend Yield
2.92%2.98%3.02%2.52%2.71%2.38%3.51%2.33%2.84%2.77%2.88%2.71%
Profitability Indicator Ratios
Gross Profit Margin
59.32%61.92%65.76%71.55%70.26%71.30%71.32%68.76%64.21%42.17%49.23%71.30%
Operating Profit Margin
18.94%21.24%21.68%30.11%28.18%34.58%28.06%26.13%24.81%26.77%28.02%34.58%
Pretax Profit Margin
8.35%15.80%12.54%20.63%17.29%24.37%18.13%17.34%16.32%17.97%19.08%17.29%
Net Profit Margin
7.01%11.96%9.65%12.38%13.89%19.60%14.25%13.69%12.62%13.65%14.53%13.89%
Effective Tax Rate
14.63%20.97%16.89%34.32%11.37%13.49%14.25%14.27%16.02%17.39%17.03%11.37%
Return on Assets
1.42%2.79%1.37%2.14%2.19%3.22%2.29%2.24%2.16%2.38%2.38%2.19%
Return On Equity
4.36%8.14%4.52%6.85%7.05%9.29%6.81%6.70%6.62%7.31%7.48%7.05%
Return on Capital Employed
4.27%5.46%3.37%5.64%4.84%6.17%4.88%4.67%4.75%5.14%5.01%4.84%
Liquidity Ratios
Current Ratio
0.730.700.540.620.760.610.62N/AN/AN/A0.730.61
Quick Ratio
0.610.570.450.520.670.520.520.460.540.570.620.62
Cash ratio
0.080.090.060.090.070.080.060.020.030.100.150.07
Days of Sales Outstanding
56.6346.3956.1043.5750.9445.9247.9549.0258.1349.0953.9050.94
Days of Inventory outstanding
53.3248.0358.0056.7358.2257.0660.1259.1261.0431.0138.1357.06
Operating Cycle
109.9694.42114.10100.31109.16102.98108.07108.14119.1880.1192.03102.98
Days of Payables Outstanding
101.6759.0086.37107.5999.33109.21100.7295.7381.8254.25194.6299.33
Cash Conversion Cycle
8.2835.4127.72-7.289.83-6.227.3512.4137.3525.85-102.58-6.22
Debt Ratios
Debt Ratio
0.400.400.460.450.450.420.440.440.440.440.450.45
Debt Equity Ratio
1.251.181.521.441.461.221.311.321.361.371.401.40
Long-term Debt to Capitalization
0.530.520.580.570.580.530.550.550.550.550.560.56
Total Debt to Capitalization
0.550.540.600.590.590.550.560.570.570.570.580.58
Interest Coverage Ratio
1.782.462.092.732.422.372.40N/AN/AN/A2.332.37
Cash Flow to Debt Ratio
0.090.140.080.120.100.110.110.110.100.110.110.10
Company Equity Multiplier
3.062.913.283.183.202.882.962.983.053.063.093.09
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.180.240.270.330.310.300.300.300.270.300.320.31
Free Cash Flow / Operating Cash Flow Ratio
-0.75-0.34-0.09-0.09-0.23-0.39-0.49-0.16-0.25-0.17-0.28-0.39
Cash Flow Coverage Ratio
0.090.140.080.120.100.110.110.110.100.110.110.10
Short Term Coverage Ratio
1.141.861.333.012.642.151.941.551.121.461.862.15
Dividend Payout Ratio
67.54%38.38%58.78%47.08%45.02%32.57%66.79%51.85%52.86%48.82%48.40%45.02%