Fortis (TSX:FTS.PR.E.PFD) LT-Debt-to-Total-Asset : 0.43 (As of Sep. 2024)

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What is Fortis LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Fortis's long-term debt to total assests ratio for the quarter that ended in Sep. 2024 was 0.43.

Fortis's long-term debt to total assets ratio increased from Sep. 2023 (0.42) to Sep. 2024 (0.43). It may suggest that Fortis is progressively becoming more dependent on debt to grow their business.

Fortis LT-Debt-to-Total-Asset Historical Data

The historical data trend for Fortis's LT-Debt-to-Total-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Fortis LT-Debt-to-Total-Asset Chart

Fortis Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.41

0.42

0.41

0.42

Fortis Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.42	0.42	0.41	0.42	0.43

Fortis LT-Debt-to-Total-Asset Calculation

Fortis's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (A: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2023 )	/	Total Assets (A: Dec. 2023 )
	=	27613	/	65920
	=	0.42

Fortis's Long-Term Debt to Total Asset Ratio for the quarter that ended in Sep. 2024 is calculated as

LT Debt to Total Assets (Q: Sep. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Sep. 2024 )	/	Total Assets (Q: Sep. 2024 )
	=	30055	/	69642
	=	0.43

Fortis (TSX:FTS.PR.E.PFD) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Fortis LT-Debt-to-Total-Asset Related Terms

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Fortis Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Fortis Inc (TSX:FTS.PR.E.PFD) » Definitions » LT-Debt-to-Total-Asset

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Address

5 Springdale Street, Suite 1100, Fortis Place, Saint John’s, NL, CAN, A1E 0E4

Website

https://www.fortisinc.com

Fortis owns and operates eight utility transmission and distribution subsidiaries in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. Subsidiary ITC operates electric transmission in seven US states, with more than 16,000 miles of high-voltage transmission lines in operation.

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