Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker / Industry / Sector

Fortis Inc. (FTS)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$355.52 - $654.89$613.73
Multi-Stage$103.84 - $113.65$108.66
Blended Fair Value$361.19
Current Price$70.63
Upside411.39%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.32%14.39%1.491.401.341.211.570.760.920.840.630.46
YoY Growth--6.13%4.16%10.69%-22.65%106.33%-17.00%9.55%32.59%36.21%19.59%
Dividend Yield--2.27%2.63%2.34%1.96%2.88%1.40%1.86%1.92%1.43%1.13%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,648.46
(-) Cash Dividends Paid (M)776.00
(=) Cash Retained (M)872.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)329.69206.06123.63
Cash Retained (M)872.46872.46872.46
(-) Cash Required (M)-329.69-206.06-123.63
(=) Excess Retained (M)542.77666.40748.82
(/) Shares Outstanding (M)500.60500.60500.60
(=) Excess Retained per Share1.081.331.50
LTM Dividend per Share1.551.551.55
(+) Excess Retained per Share1.081.331.50
(=) Adjusted Dividend2.632.883.05
WACC / Discount Rate6.28%6.28%6.28%
Growth Rate5.50%6.50%7.50%
Fair Value$355.52$613.73$654.89
Upside / Downside403.35%768.93%827.21%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,648.461,755.611,869.721,991.252,120.692,258.532,326.29
Payout Ratio47.07%55.66%64.24%72.83%81.41%90.00%92.50%
Projected Dividends (M)776.00977.161,201.201,450.221,726.552,032.682,151.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.28%6.28%6.28%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)910.77919.41928.04
Year 2 PV (M)1,043.521,063.401,083.46
Year 3 PV (M)1,174.271,207.981,242.33
Year 4 PV (M)1,303.041,353.151,404.69
Year 5 PV (M)1,429.851,498.911,570.61
PV of Terminal Value (M)46,123.3148,351.0950,664.12
Equity Value (M)51,984.7654,393.9356,893.26
Shares Outstanding (M)500.60500.60500.60
Fair Value$103.84$108.66$113.65
Upside / Downside47.03%53.84%60.91%

High-Yield Dividend Screener

« Prev Page 5 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
PFEPfizer Inc.6.75%$1.7098.83%
COGCabot Oil & Gas Corporation6.71%$1.4952.20%
VZVerizon Communications Inc.6.66%$2.7057.56%
ACAssociated Capital Group, Inc.6.63%$2.2186.94%
VACMarriott Vacations Worldwide Corporation6.62%$3.9078.61%
SSTKShutterstock, Inc.6.61%$1.2475.34%
EPDEnterprise Products Partners L.P.6.60%$2.1280.06%
SXCSunCoke Energy, Inc.6.57%$0.4863.44%
DINDine Brands Global, Inc.6.56%$2.1890.98%
CBLCBL & Associates Properties, Inc.6.54%$2.4261.13%
CRICarter's, Inc.6.47%$2.1585.39%
KYNKayne Anderson Energy Infrastructure Fund, Inc.6.47%$0.8035.36%
SMMCXWestern Asset Managed Municipals Fund Class C6.45%$0.9671.65%
HESMHess Midstream LP6.39%$2.2187.39%
WRB-PFW.R. Berkley Corporation 5.10%6.38%$1.2726.69%
RMTRoyce Micro-Cap Trust, Inc.6.37%$0.6732.29%
PNFPIMCO New York Municipal Income Fund6.30%$0.4854.92%
ENREnergizer Holdings, Inc.6.29%$1.2536.44%
UPSUnited Parcel Service, Inc.6.29%$6.3598.06%
NWBINorthwest Bancshares, Inc.6.27%$0.7593.81%
UIHCUnited Insurance Holdings Corp.6.27%$0.485.99%
TROWT. Rowe Price Group, Inc.6.24%$6.5369.41%
JRSHJerash Holdings (US), Inc.6.20%$0.190.52%
MUABlackRock MuniAssets Fund, Inc.6.14%$0.6673.39%
VKIInvesco Advantage Municipal Income Trust II6.11%$0.5676.68%
GL-PDGlobe Life Inc. 4.25% Junior Su6.10%$1.037.35%
CLNYColony Capital, Inc.6.07%$0.5213.43%
OMFOneMain Holdings, Inc.6.07%$4.2071.06%
VICIVICI Properties Inc.6.07%$1.7165.54%
IMMRImmersion Corporation6.06%$0.3914.22%
KRNYKearny Financial Corp.5.99%$0.4493.99%
DMFBNY Mellon Municipal Income, Inc.5.97%$0.4129.64%
UNBUnion Bankshares, Inc.5.96%$1.4157.02%
ARTMXArtisan Mid Cap Fund Inv Shs5.91%$1.9591.77%
SABASaba Capital Income & Opportunities Fund II5.87%$0.4924.55%
BRDBeard Energy Transition Acquisition Corp.5.86%$0.6395.51%
ETRNEquitrans Midstream Corporation5.81%$0.7269.91%
EHLDVEuroholdings Ltd5.80%$0.285.02%
REPXRiley Exploration Permian, Inc.5.80%$1.5438.01%
AIIAmerican Integrity Insurance Group, Inc.5.79%$1.1726.25%
VRTSVirtus Investment Partners, Inc.5.75%$9.3547.12%
CXHMFS Investment Grade Municipal Trust5.74%$0.4680.40%
GESGuess', Inc.5.72%$0.9661.52%
KRCKilroy Realty Corporation5.71%$2.1779.80%
WRB-PEW. R. Berkley Corporation 5.70% SB DB 20585.68%$1.2726.69%
LEOBNY Mellon Strategic Municipals, Inc.5.66%$0.3637.22%
WLYBJohn Wiley & Sons, Inc.5.64%$1.7692.90%
KMPBKemper Corporation 5.875% Fixed5.60%$1.3132.45%
CBTXCBTX, Inc.5.56%$1.6354.55%
0HST.LCampbell Soup Company5.53%$1.5580.10%