EMA vs FTS
Emera Inc. and Fortis Inc., side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | EMA | FTS |
|---|---|---|
| Revenue | CAD 8.8B | CAD 12.2B |
| Net income | CAD 1.1B | CAD 2.0B |
| Gross margin | · | 72.3% |
| Net margin | 12.4% | 16.1% |
| Return on equity | · | 8.2% |
| Diluted EPS | CAD 3.38 | CAD 3.40 |
| Dividend / share | CAD 2.91 | CAD 2.51 |
| Payout ratio | · | 40.2% |
| Free cash flow | CAD -1.7B | CAD -1.9B |
| Equity | CAD 13.4B | CAD 23.8B |
| Net debt / equity | · | 1.41× |
| Current ratio | 0.66× | 0.51× |
| Revenue CAGR 5y | 9.8% | 6.4% |
| Profit CAGR 5y | 2.1% | 7.1% |
FTS bills 1.4× the revenue of EMA, and keeps more of each dollar of revenue as profit (16.1% against 12.4%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | EMA | FTS |
|---|---|---|
| FY2025 | CAD 8.8B | CAD 12.2B |
| FY2024 | CAD 7.2B | CAD 11.5B |
| FY2023 | CAD 7.6B | CAD 11.5B |
| FY2022 | CAD 7.6B | CAD 11.0B |
| FY2021 | CAD 5.8B | CAD 9.4B |
| FY2020 | CAD 5.5B | CAD 8.9B |
| FY2019 | CAD 6.1B | CAD 8.8B |
| FY2018 | CAD 6.5B | CAD 8.4B |
| FY2017 | CAD 6.2B | CAD 8.3B |
| FY2016 | CAD 4.3B | CAD 6.8B |
Bottom line
| Fiscal year | EMA | FTS |
|---|---|---|
| FY2025 | CAD 1.1B | CAD 2.0B |
| FY2024 | CAD 568.0M | CAD 1.8B |
| FY2023 | CAD 1.0B | CAD 1.7B |
| FY2022 | CAD 1.0B | CAD 1.5B |
| FY2021 | CAD 561.0M | CAD 1.4B |
| FY2020 | CAD 984.0M | CAD 1.4B |
| FY2019 | CAD 710.0M | CAD 1.9B |
| FY2018 | CAD 747.0M | CAD 1.3B |
| FY2017 | CAD 299.0M | CAD 1.1B |
| FY2016 | CAD 227.0M | CAD 713.0M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 3,394,000,000 | FTS |
| FY2024 | −CAD 4,308,000,000 | FTS |
| FY2023 | −CAD 3,954,000,000 | FTS |
| FY2022 | −CAD 3,455,000,000 | FTS |
| FY2021 | −CAD 3,683,000,000 | FTS |
| FY2020 | −CAD 3,429,000,000 | FTS |
| FY2019 | −CAD 2,672,000,000 | FTS |
| FY2018 | −CAD 1,866,000,000 | FTS |
| FY2017 | −CAD 2,075,000,000 | FTS |
| FY2016 | −CAD 2,561,000,000 | FTS |
| FY2015 | −CAD 3,968,000,000 | FTS |
FTS has reported the higher revenue in every one of these 11 fiscal years. The gap has narrowed since the earliest year compared.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −3.7 pp | FTS |
| FY2024 | −8.0 pp | FTS |
| FY2023 | −1.0 pp | FTS |
| FY2022 | −0.4 pp | FTS |
| FY2021 | −5.1 pp | FTS |
| FY2020 | +2.3 pp | EMA |
| FY2019 | −9.5 pp | FTS |
| FY2018 | −3.9 pp | FTS |
| FY2017 | −8.8 pp | FTS |
| FY2016 | −4.2 pp | FTS |
| FY2015 | +3.8 pp | EMA |
The higher net margin has changed hands between EMA and FTS over this period.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
EMA's net margin has been more volatile than FTS's over the 11 comparable fiscal years — 3.8 percentage points of standard deviation against 2.5.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between EMA and FTS over these 11 fiscal years — EMA led in 2 and FTS in 9.
11 of 13 comparable fiscal years — a year missing data on either side is not counted.