H Stock Analysis: Hydro One | TO
Utilities - Regulated Electric | TO, Canada | Market Cap: 34.476m CAD | 12M Return: 12.1% | CA4488112083 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 73.6M
EPS Trend: 99.1%
Qual. Beats: -1
Rev. Trend: 99.5%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Hydro One (TSX: H) is a Toronto-based electric utility that operates transmission and distribution networks across Ontario. Its business is organized into Transmission, Distribution, and Other segments, with telecommunications and information technology services supporting its core operations.
The company owns about 30,000 circuit kilometers of high-voltage transmission lines and 126,000 circuit kilometers of primary distribution lines. It serves households, businesses, industrial customers, and municipal utilities. Like other electric utilities, Hydro One’s networks carry electricity from generators toward end users; its core business is delivering power rather than generating it.
- Grid investment expands regulated rate base and earnings
- Ontario rate decisions shape allowed returns and revenue growth
- Higher interest rates increase financing costs and pressure earnings
| Net Income: 1.42b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA 0.46 > 1.0 |
| NWC/Revenue: -3.31% < 20% (prev -31.75%; Δ 28.44% < -1%) |
| CFO/TA 0.06 > 3% & CFO 2.66b > Net Income 1.42b |
| Net Debt (19.5b) to EBITDA (3.41b): 5.72 < 3 |
| Current Ratio: 0.88 > 1.5 & < 3 |
| Outstanding Shares: last quarter (600.8m) vs 12m ago -0.00% < -2% |
| Gross Margin: 27.33% > 18% (prev 24.14%; Δ 3.19% > 0.5%) |
| Asset Turnover: 24.13% > 50% (prev 23.17%; Δ 0.96% > 0%) |
| Interest Coverage Ratio: 3.26 > 6 (EBIT TTM 2.33b / Interest Expense TTM 715.0m) |
| A: -0.01 (Total Current Assets 2.36b - Total Current Liabilities 2.67b) / Total Assets 41.1b |
| B: 0.18 (Retained Earnings 7.26b / Total Assets 41.1b) |
| C: 0.06 (EBIT TTM 2.33b / Avg Total Assets 39.4b) |
| D: 0.46 (Book Value of Equity 13.0b / Total Liabilities 28.0b) |
| Altman-Z'' = 1.41 = BB |
| DSRI: 1.04 (Receivables 1.53b/1.35b, Revenue 9.52b/8.76b) |
| GMI: 0.88 (GM 24.14% / 27.33%) |
| AQI: 0.97 (AQ_t 0.15 / AQ_t-1 0.16) |
| SGI: 1.09 (Revenue 9.52b / 8.76b) |
| TATA: -0.03 (NI 1.42b - CFO 2.66b) / TA 41.1b) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of November 12, 2026, the stock is trading at CAD 57.04 with a total of 723,800 shares traded. Over the past week, the price has changed by -0.24%, over one month by +10.84%, over three months by +2.54% and over the past year by +12.12%.
Current recommended Stop Loss: 55.60 (which is 2.5% or 1.5 ATR below the current price).
Hydro One has no consensus analysts rating.
P/E Trailing = 24.5513
P/E Forward = 24.1546
P/S = 3.5478
P/B = 2.6125
P/EG = 3.6561
Revenue TTM = 9.52b CAD
EBIT TTM = 2.33b CAD
EBITDA TTM = 3.41b CAD
Long Term Debt = 19.5b CAD (from longTermDebt, last quarter)
Short Term Debt = 536.0m CAD (from shortTermDebt, last quarter)
Debt = 20.2b CAD (from shortLongTermDebtTotal, last quarter) + Leases 63.0m
Net Debt = 19.5b CAD (calculated: Debt 20.2b - CCE 643.0m)
Enterprise Value = 54.0b CAD (34.5b + Debt 20.2b - CCE 643.0m)
Interest Coverage Ratio = 3.26 (Ebit TTM 2.33b / Interest Expense TTM 715.0m)
EV/FCF = -217.7x (Enterprise Value 54.0b / FCF TTM -248.0m)
FCF Yield = -0.46% (FCF TTM -248.0m / Enterprise Value 54.0b)
FCF Margin = -2.61% (FCF TTM -248.0m / Revenue TTM 9.52b)
Net Margin = 14.87% (Net Income TTM 1.42b / Revenue TTM 9.52b)
Gross Margin = 27.33% ((Revenue TTM 9.52b - Cost of Revenue TTM 6.92b) / Revenue TTM)
Gross Margin QoQ = 26.93% (prev 23.49%)
Tobins Q-Ratio = 1.31 (Enterprise Value 54.0b / Total Assets 41.1b)
Interest Expense / Debt = 3.55% (Interest Expense 715.0m / Debt 20.2b)
Taxrate = 12.29% (200.0m / 1.63b)
NOPAT = 2.04b (EBIT 2.33b * (1 - 12.29%))
Current Ratio = 0.88 (Total Current Assets 2.36b / Total Current Liabilities 2.67b)
Debt / Equity = 1.55 (Debt 20.2b / totalStockholderEquity, last quarter 13.0b)
Debt / EBITDA = 5.72 (Net Debt 19.5b / EBITDA 3.41b)
Debt / FCF = -78.67 (negative FCF - burning cash) (Net Debt 19.5b / FCF TTM -248.0m)
Total Stockholder Equity = 12.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.59% (Net Income 1.42b / Total Assets 41.1b)
RoE = 11.08% (Net Income TTM 1.42b / Total Stockholder Equity 12.8b)
RoCE = 7.22% (EBIT 2.33b / Capital Employed (Equity 12.8b + L.T.Debt 19.5b))
RoIC = 5.31% (NOPAT 2.04b / Invested Capital 38.5b)
WACC = 4.04% (E(34.5b)/V(54.6b) * Re(4.58%) + D(20.2b)/V(54.6b) * Rd(3.55%) * (1-Tc(0.12)))
Discount Rate = 4.58% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 4.50 | Cagr: 0.02%
[DCF] Fair Price = unknown (Cash Flow -248.0m)
EPS Correlation: 99.09 | EPS CAGR: 11.51% | SUE: -1.16 | # QB: -1
Revenue Correlation: 99.50 | Revenue CAGR: 7.74% | SUE: -0.37 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.70 | Chg30d=+0.00% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=2.31 | Chg30d=-0.50% | Revisions=-29% | GrowthEPS=+3.6% | GrowthRev=+5.2%
EPS next Year (2027-12-31): EPS=2.39 | Chg30d=+0.36% | Revisions=+0% | GrowthEPS=+3.6% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: -10% (up=3, down=4)