Side by sideFortis (FTS.TO) and Hydro One (H.TO)Memos of October 16, 2026
Fortis vs Hydro One stock: the numbers side by side (October 2026)
How do Fortis and Hydro One compare?
| Fortis FTS.TO | Hydro One H.TO | |
|---|---|---|
| Revenue growth | 5.8%2025 | 6.6%2025 |
| Operating margin | 28.7%2025 | 24.8%2025 |
| Dividend yield | 3.3%Today (Oct 16, 2026) | 2.7%Today (Oct 16, 2026) |
| P/E, last 12 months | 22.7xToday (Oct 16, 2026) | 22.5xToday (Oct 16, 2026) |
| P/E, next 12 months | 20.0xToday (Oct 16, 2026) | 22.3xToday (Oct 16, 2026) |
| Weighted price forecast, about 1 year | 76.97 (+3 %)October 2027 | 51.83 (+0 %)October 2027 |
| Weighted price forecast, about 3 years | 84.15 (+19 %)October 2029 | 54.63 (+11 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | Hydro One | The higher figure |
| Operating margin | Fortis | The higher figure |
| Dividend yield | Fortis | The higher figure |
| P/E, last 12 months | Hydro One | The lower figure |
| P/E, next 12 months | Fortis | The lower figure |
| Weighted price forecast, about 1 year | Fortis | The higher weighted return |
| Weighted price forecast, about 3 years | Fortis | The higher weighted return |
What does each company do?
Fortis owns regulated electricity and gas networks—businesses whose prices and service a government regulator oversees—that connect generators and suppliers to homes and businesses.
Fortis (FTS.TO), from our memo of October 16, 2026 · Fortis stock forecast
Hydro One moves electricity across Ontario’s high-voltage grid—large power lines carrying electricity over long distances—and delivers it over local wires to homes and businesses.
Hydro One (H.TO), from our memo of October 16, 2026 · Hydro One stock forecast