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BALCAO · ELECTRIC SERVICES

Hydro One Ltd. HRNNF

9 fiscal years on record · CAD · FY2025 reported · SEC filings only
8 YEARS OF DIVIDEND GROWTH
CAD 9.0B
▲ 6.6% YoY
CAD 1.3B
▲ 15.8% YoY
CAD -275.0M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Hydro One owns and operates substantially all of Ontario's electricity transmission network and delivers electricity to approximately 1.5 million customers across the province of Ontario, and to large industrial customers and municipal utilities. Hydro One has approximately $40 billion in assets and had 2025 revenues of approximately $9 billion. Through its subsidiaries, Hydro One Inc. owns and operates approximately 30,000 circuit kilometres of high-voltage transmission lines and approximately 126,000 circuit kilometres of primary low-voltage distribution lines. As at December 31, 2025, Hydro One had approximately 7,200 regular and 1,900 non-regular employees province-wide. Hydro One has three segments: transmission business, distribution business, and other. Hydro One's transmission business represented approximately 60% of its total assets as at December 31, 2025. Hydro One's distribution business represented approximately 38% of its total assets as at December 31, 2025. Its other segment consists principally of its telecommunications business, carried out by its wholly-owned subsidiary Acronym Solutions Inc., which provides telecommunications support for the Company's transmission and distribution businesses.

Written from the business description in Hydro One Ltd's annual report to the U.S. Securities and Exchange Commission, filed 13 February 2026. Every sentence was checked against that document before publication.

Growth

CAD 9.0B
Revenue, FY2025 · full 9-year series below
Revenue CAD B Net income CAD B
FY2025 · Revenue 9.0 · Net income 1.3
4B8B
2017202020232025
Compound annual growth
+5.1%
+4.4%
+8.4%
+8.4%
−5.4%
+5.7%
+5.5%
+6.0%
+5.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +4.4% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

15 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 24.8% · Net 14.9%
10%20%
201720212025
ROE
FY2025 · ROE 10.9%
5%10%15%
201720212025
Three returns, three denominators.

Each CAD of equity produced 11 cents of profit this year.

Cash & shareholders

CAD 788.0M
returned in FY2025 · dividends + net buybacks
Free cash flow CAD M
FY2025 · FCF -275.0
150M300M-100M-200M
201720212025
Net buybacks CAD M Dividends CAD M
FY2025 · Dividends 788.0 · Net buybacks ·
300M600M
201720182019202020212022202320242025

CAD 788.0M in dividends — 58% of the year's profit went back to shareholders.

Total assetsCAD 39.7B
EquityCAD 12.6B
CashCAD 549.0M
Gross debtCAD 19.0B
Net debtCAD 18.5B
Current ratio0.61×

Net debt stands at 146% of equity.

The 9-year record

9 fiscal years
Every figure from documents filed with the SEC · CAD
row low → row highnegative—not applicable◌not available in our data
HRNNF, 9-year financial record
Metric 202520242023202220212020201920182017
Revenue CAD B9.08.57.87.87.27.36.56.26.0
Operating income CAD B2.22.01.81.81.61.51.31.31.2
EBITDA CAD B3.22.92.72.72.42.32.12.12.0
Income tax CAD B0.20.20.20.30.2−0.8−0.00.90.1
Net income CAD B1.31.21.11.11.01.80.8−0.10.7
Free cash flow CAD B−0.3−0.20.10.30.20.30.10.20.2
EPS, diluted CAD 2.231.921.811.751.612.951.30−0.151.10
Dividend / sh CAD 1.311.241.171.111.051.000.960.910.87
Payout %58646463653473−86279
ROE %10.99.89.59.59.117.78.3−0.76.7
Shares out B0.600.600.600.600.600.600.600.600.60

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

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Provenance

Company facts, as filed

How we verify · 0 failures in 36 reconciliationsAUDITED

Reconciled in 9 of the 9 fiscal years we could check. 20 checks were skipped: the balance sheet is not tagged before 2017. 10 checks were skipped: EPS is not tagged before 2017. 10 checks were skipped: revenue is not tagged before 2017.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityElectric Services
Listed onOTC market
Incorporated inoutside the United States — SEC code A6
Fiscal year endsDecember 31
Data on record since2017

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