An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.
In plain words · Fortis Inc.
VERDICT
The label
Markup
read at $58.31
Fortis Inc holds its Markup at $58.31.
PHPhase · the trend structure carries the Markup label
INInsiders · no filings inside 60 days, left as found
POPositioning · no disclosures inside 60 days, left as found
OPOptions · no verdict drawn today, left as found
SCScreen · passes the values gate
edge confirmed
edge broken
edge forming
Each arm is one independent read. Conviction is not a single call, it is how many edges converge.
INVESTOR
The investor read · the season, not the day
As held on the ledger · 2026-07-27
Phase
Markup
Quantitative state
Elevated stress, defensive posture warranted, held for 3 days
Price
$58.31
Valuation
24.20 trailing · 20.95 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.43
OPPORTUNITY
The opportunity · what the numbers say it is worth
Read at
$58.31
24.20 P/E · 20.95 fwd
Our fair value
$48.87
16% premium
Analyst target (avg)
$56.00
-4% to current
Target low $51.00Analyst target rangeTarget high $61.00
▲ current $58.31 · | average target
Price history & projections · where it has been, where the models see it going
The valuation journey · where the price sits against fair value and the Street
Current
$58.31
you are here
Conservative
$45.90
-21%
Analyst avg
$56.00
-4%
Our fair value
$48.87
-16%
Analyst high
$61.00
+5%
Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.
Reading the gap · Both our model and the Street see limited upside at this price.
Revenue growth
1.90%
Profit margin
14.73%
Debt to equity
133.70
Analyst consensus
Hold · 2 covering
Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.
SCREEN
The values screen, explained · five checks, plain English
It depends which standard you follow. There are two widely recognised ways to check whether a company is suitable for a Muslim investor, and on this company they disagree. Here is how it did on each:
The common standard· AAOIFI Used by most halal investing apps✗ DOES NOT PASS
Our stricter standard· asset-based The one Titan applies✓ PASSES
Why the two disagree. They fall out over one thing only: the company’s debt. Our stricter standard measures that debt against what the company owns, and it works out too high to pass. The common standard measures the same debt against what the company is worth on the stock market, where it works out low enough to pass. Every other check, the two agree on. So in practice, most halal apps would treat this as fine to hold, while our stricter view would not — and which line you follow is between you and your scholar.
Business activityIts core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending.Pass
Debt loadInterest-bearing debt is of its assets, above the one-third ceiling the screen allows. Against market value it is 118.3%, under the 30% line the market-value standard uses — so that standard clears it.Divergent
Interest-bearing cashInterest-bearing cash and securities are of assets, above the one-third limit.Fail
ReceivablesMoney owed to the company is of assets, above the 49% limit.Fail
Revenue purity of revenue comes from non-compliant sources, over the 5% line.Fail
Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.
PLAIN
The business, in plain words · what the numbers mean
Power bills arrive on time but value does not
Every month the lights stay on across Canadian provinces and parts of Arizona because Fortis keeps the grid running. The business is simple, regulated and ethical, yet it trades at $58.78 while our work puts fair value at $49.01. Revenue inches up just 2 percent a year, profit margins sit at 15 percent and return on equity is only 7 percent, none of which justifies a forward multiple of 21 times.
We pass because the margin of safety is negative 17 percent and two analysts already call the shares a hold with a $56 target. A narrow moat and low single-digit growth leave little room for error at this price. Utilities like this rarely surprise to the upside once the rate base is set.
Interest rate rises hit the sector hard through higher borrowing costs and compressed valuations, while regulators can always trim allowed returns. The ethical screen is clean, but clean does not equal cheap. Analysis, not advice.
Screened names in the same industry · explore each on its own page.
TRADER
The trader read · the latest dated commentary
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (2 analysts) rates it hold, with a mean price target of $56. Entered 2026-07-30 · Markup
JOURNAL
The dated journal · newest first, never edited
2026-07-30Markup · changed$58.31+2.5%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (2 analysts) rates it hold, with a mean price target of $56.
2026-07-18Distribution$56.91+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (2 analysts) rates it hold, with a mean price target of $56.
2026-07-03Distribution$56.91+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$56.91Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
POLITICAL
The political ledger · congressional disclosures
Disclosures naming FTS
Date
Politician
Party
Type
Amount
27 May2026
John Boozman
Republican
sell
1K–15K
RETURNS
What holding actually paid · price plus dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$55.76
+1.4%
$0.47
$1,022
+2.2%
2 months
$57.12
-1.0%
$0.47
$998
-0.2%
3 months
$57.59
-1.8%
$0.47
$990
-1.0%
6 months
$49.46
+14.3%
$0.94
$1,162
+16.2%
1 year
$46.30
+22.2%
$1.38
$1,251
+25.1%
2 years
$37.40
+51.2%
$3.13
$1,595
+59.5%
3 years
$38.65
+46.3%
$4.84
$1,589
+58.9%
5 years
$38.70
+46.1%
$8.19
$1,673
+67.3%
Historical returns from market close data. Past performance does not guarantee future results.
SEALED
This entry now belongs to the ledger. Whatever FTS does next, these words stay.
Fortis Inc · FTS · Markup · $58.31
Recorded 2026-07-27 · before the outcome · scored mechanically
