Fortis Historical Income Statement
| FTS Stock | CAD 62.59 0.09 0.14% |
Historical analysis of Fortis income statement accounts such as Total Revenue of 12.1 B or Gross Profit of 2.9 B can show how well Fortis Inc performed in making a profits. Evaluating Fortis income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Fortis's future profits or losses.
Financial Statement Analysis is much more than just reviewing and examining Fortis Inc latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Fortis Inc is a good buy for the upcoming year.
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About Fortis Income Statement Analysis
Fortis Inc Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Fortis shareholders. The income statement also shows Fortis investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).
Fortis Income Statement Chart
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Total Revenue
Total revenue comprises all receipts Fortis Inc generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Gross Profit
Gross profit is a required income statement account that reflects total revenue of Fortis Inc minus its cost of goods sold. It is profit before Fortis operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.Other Operating Expenses
Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Fortis Inc. It is also known as Fortis overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.Operating Income
Operating Income is the amount of profit realized from Fortis Inc operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of Fortis Inc is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.Most accounts from Fortis' income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Fortis Inc current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortis Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. At this time, Fortis' EBITDA is very stable compared to the past year. As of the 29th of November 2024, Cost Of Revenue is likely to grow to about 7 B, while Gross Profit is likely to drop about 2.9 B.
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 6.5B | 7.1B | 4.9B | 2.9B | Total Revenue | 9.4B | 11.0B | 11.5B | 12.1B |
Fortis income statement Correlations
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Fortis Account Relationship Matchups
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High Negative Relationship
Fortis income statement Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Depreciation And Amortization | 1.4B | 1.4B | 1.5B | 1.7B | 1.8B | 1.9B | |
| Interest Expense | 1.0B | 1.0B | 1.0B | 1.1B | 1.3B | 1.4B | |
| Total Revenue | 8.8B | 8.9B | 9.4B | 11.0B | 11.5B | 12.1B | |
| Gross Profit | 6.3B | 6.4B | 6.5B | 7.1B | 4.9B | 2.9B | |
| Other Operating Expenses | 6.3B | 6.4B | 7.0B | 8.3B | 8.4B | 8.9B | |
| Operating Income | 3.0B | 2.5B | 2.5B | 2.7B | 3.1B | 3.2B | |
| Ebitda | 3.8B | 4.0B | 4.0B | 4.5B | 4.9B | 5.2B | |
| Cost Of Revenue | 2.5B | 2.6B | 3.0B | 4.0B | 6.7B | 7.0B | |
| Total Operating Expenses | 3.8B | 3.9B | 4.0B | 4.4B | 1.8B | 1.8B | |
| Income Before Tax | 2.1B | 1.6B | 1.6B | 1.8B | 2.1B | 2.2B | |
| Total Other Income Expense Net | (897M) | (888M) | (830M) | (937M) | (1.0B) | (963.3M) | |
| Net Income | 1.7B | 1.3B | 1.3B | 1.4B | 1.6B | 1.7B | |
| Income Tax Expense | 165M | 289M | 231M | 234M | 360M | 378M | |
| Net Income From Continuing Ops | 1.9B | 1.4B | 1.4B | 1.5B | 1.7B | 1.3B | |
| Net Income Applicable To Common Shares | 1.7B | 1.2B | 1.2B | 1.3B | 1.5B | 1.0B | |
| Minority Interest | 1.6B | 1.6B | (111M) | (120M) | (137M) | (130.2M) | |
| Tax Provision | 209M | 289M | 231M | 234M | 360M | 293.3M | |
| Interest Income | 1.0B | 13M | 5M | 1.1B | 76M | 72.2M | |
| Net Interest Income | (1.0B) | (1.0B) | (998M) | (1.1B) | (1.2B) | (1.3B) | |
| Reconciled Depreciation | 1.4B | 1.4B | 1.5B | 1.7B | 1.8B | 1.6B |
Pair Trading with Fortis
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Fortis position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Fortis will appreciate offsetting losses from the drop in the long position's value.Moving together with Fortis Stock
Moving against Fortis Stock
The ability to find closely correlated positions to Fortis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortis when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fortis - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fortis Inc to buy it.
The correlation of Fortis is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fortis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortis Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Fortis can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortis Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.