How much debt does Fortis have?
According to Fortis's latest annual financial reports, the company's debt profile is as follows:
Total Debt and Liabilities
Fortis's total debt stands at $33.70B. This is broken down into:
- Long-term debt: $31.61B
- Short-term debt: $2.09B
The company's net debt, which accounts for cash and cash equivalents, is $33.48B. In terms of overall financial obligations, Fortis's total liabilities amount to $47.63B.
Debt Ratios and Metrics
To better understand Fortis's debt position, we can look at several key ratios:
- Debt to Equity Ratio: 1.42 - this indicates the proportion of equity and debt the company uses to finance its assets.
- Debt Ratio: 45.86% - this shows the proportion of a company's assets that are financed through debt.
- Interest Coverage Ratio: 2.34 - this measures how easily a company can pay interest on its outstanding debt.
- Long-term Debt to Capitalization: 56.74% - this shows the proportion of long-term debt in the company's capital structure.
- Total Debt to Capitalization: 58.60% - this indicates the total debt in the company's capital structure.
These metrics provide insight into Fortis's financial leverage and its ability to meet financial obligations. For a comprehensive understanding of the company's financial health, it's important to consider these debt metrics alongside other financial indicators and industry benchmarks.
Total Debt
$33.70B
Long-term Debt
$31.61B
Short-term Debt
$2.09B
Net Debt
$33.48B
Total Liabilities
$47.63B
Interest Coverage
2.34
Debt to Equity Ratio
1.42
Debt Ratio
45.86%
Fortis Historical Debt Metrics
Fortis Historical Debt
The table below shows various debt metrics for each year, with the latest data available for the last fiscal year 2024.
| Year | Total Debt | Long-term Debt | Short-term Debt | Net Debt | Total Liabilities | Debt to Equity | Debt Ratio | Interest Coverage | Long-term Debt to Capitalization | Total Debt to Capitalization |
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $33.70B | $31.61B | $2.09B | $33.48B | $47.63B | 1.42 | 45.86% | 2.34 | 56.74% | 58.60% |
| 2023 | $30.03B | $27.61B | $2.42B | $29.40B | $42.59B | 1.40 | 45.55% | 2.36 | 55.88% | 58.27% |
| 2022 | $29.04B | $26.30B | $2.75B | $28.83B | $41.41B | 1.38 | 45.19% | 2.49 | 55.22% | 57.99% |
| 2021 | $25.95B | $24.07B | $1.89B | $25.82B | $36.74B | 1.35 | 45.00% | 2.46 | 55.14% | 57.36% |
| 2020 | $24.86B | $23.48B | $1.40B | $24.61B | $35.20B | 1.33 | 44.81% | 2.41 | 55.28% | 57.08% |
| 2019 | $23.22B | $21.95B | $1.27B | $22.85B | $33.29B | 1.25 | 43.47% | 2.94 | 53.71% | 55.61% |
| 2018 | $24.79B | $23.55B | $1.24B | $24.45B | $34.59B | 1.50 | 46.72% | 2.43 | 58.35% | 59.99% |
| 2017 | $22.13B | $21.11B | $961.00M | $21.80B | $31.07B | 1.47 | 46.27% | 2.74 | 57.97% | 59.60% |
| 2016 | $22.82B | $21.28B | $1.48B | $22.55B | $31.45B | 1.56 | 47.63% | 2.32 | 58.78% | 60.99% |
| 2015 | $12.25B | $11.27B | $921.00M | $12.01B | $18.45B | 1.24 | 42.52% | 2.58 | 52.19% | 55.35% |
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