HYDRO ONE LTD (HRNNF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Feb 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HRNNF SEC filings page.
HYDRO ONE LTD (HRNNF) reported $6.6B in revenue for fiscal year 2025, up 11.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
HYDRO ONE LTD does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
HYDRO ONE LTD scores 1.33, below the 1.81 distress threshold. The score is pulled down most by current liabilities exceeding current assets by $1.0B against total assets of $28.9B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
HYDRO ONE LTD passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, HYDRO ONE LTD generates $2.01 in operating cash flow ($2.0B OCF vs $976.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
HYDRO ONE LTD earns $0.20 in operating income for every $1 of interest expense ($1.6B vs $8.3B). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
HYDRO ONE LTD generated $6.6B in revenue in fiscal year 2025. This represents an increase of 11.9% from the prior year.
HYDRO ONE LTD's EBITDA was $2.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 16.5% from the prior year.
HYDRO ONE LTD reported $976.5M in net income in fiscal year 2025. This represents an increase of 21.6% from the prior year.
HYDRO ONE LTD earned $1.63 per diluted share (EPS) in fiscal year 2025. This represents an increase of 22.0% from the prior year.
Cash & Balance Sheet
HYDRO ONE LTD recorded an outflow of $200.6M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
HYDRO ONE LTD held $400.4M in cash against $13.2B in long-term debt as of fiscal year 2025.
HYDRO ONE LTD paid $0.96 per share in dividends in fiscal year 2025. This represents an increase of 11.0% from the prior year.
Margins & Returns
HYDRO ONE LTD's gross margin was 50.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.
HYDRO ONE LTD's operating margin was 24.8% in fiscal year 2025, reflecting core business profitability. This is up 1.6 percentage points from the prior year.
HYDRO ONE LTD's net profit margin was 14.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.2 percentage points from the prior year.
HYDRO ONE LTD's ROE was 10.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.0 percentage points from the prior year.
Capital Allocation
HYDRO ONE LTD invested $2.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 14.7% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
HRNNF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.6B+11.9% | $5.9B-0.8% | $5.9B+3.3% | $5.7B+1.7% | $5.7B-1.1% | $5.7B+14.3% | $5.0B+10.9% | $4.5B-5.8% | $4.8B |
| Cost of Revenue | $3.3B+13.7% | $2.9B+4.0% | $2.8B+0.5% | $2.8B-1.8% | $2.8B-7.3% | $3.0B+25.9% | $2.4B+13.0% | $2.1B-7.5% | $2.3B |
| Gross Profit | $3.3B+10.2% | $3.0B-5.1% | $3.2B+5.9% | $3.0B+5.0% | $2.9B+5.9% | $2.7B+3.7% | $2.6B+9.1% | $2.4B-4.3% | $2.5B |
| Operating Income | $1.6B+19.5% | $1.4B-2.1% | $1.4B+3.1% | $1.4B+7.3% | $1.3B+8.6% | $1.2B+15.0% | $1.0B+5.3% | $959.4M-2.5% | $984.3M |
| EBITDA | $2.3B+16.5% | $2.0B-2.3% | $2.1B+4.2% | $2.0B+3.6% | $1.9B+7.0% | $1.8B+10.3% | $1.6B+6.8% | $1.5B-3.7% | $1.6B |
| Interest Expense | $8.3B+15.2% | $7.2B+5.0% | $6.9B+15.0% | $6.0B-9.1% | $6.6B0.0% | $6.6B+3.6% | $6.4B+6.1% | $6.0B+1609.6% | $350.7M |
| Income Tax | $159.7M+27.1% | $125.7M-6.8% | $134.8M-36.6% | $212.8M+52.8% | $139.3Mn/m | -$615.5Mn/m | -$4.6M-100.7% | $670.6M+656.2% | $88.7M |
| Net Income | $976.5M+21.6% | $802.8M-2.3% | $821.8M+5.9% | $775.9M+1.9% | $761.5M-45.9% | $1.4B+127.6% | $618.7Mn/m | -$47.6M-108.7% | $544.9M |
| EPS (Basic) | $1.63+21.3% | $1.34-2.2% | $1.37+6.0% | $1.29+2.6% | $1.26-45.7% | $2.32+131.4% | $1.00n/m | -$0.11-112.4% | $0.89 |
| EPS (Diluted) | $1.63+22.0% | $1.33-2.7% | $1.37+6.0% | $1.29+2.6% | $1.26-45.5% | $2.31+130.7% | $1.00n/m | -$0.11-112.5% | $0.88 |
| Diluted Shares (Avg) | 601M0.0% | 601M0.0% | 601M0.0% | 601M0.0% | 600M+0.1% | 600M+0.2% | 599M+0.2% | 598M+0.1% | 598M |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses.
HRNNF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $28.9B+13.6% | $25.5B+2.4% | $24.9B+7.0% | $23.2B-2.2% | $23.8B+0.1% | $23.8B+13.8% | $20.9B+11.0% | $18.8B-8.4% | $20.5B |
| Current Assets | $1.6B+7.8% | $1.5B+43.3% | $1.0B-25.4% | $1.4B-3.8% | $1.4B-8.4% | $1.6B+59.4% | $978.2M-10.5% | $1.1B+34.2% | $814.1M |
| Cash & Equivalents | $400.4M-19.5% | $497.2M+730.9% | $59.8M-84.7% | $391.7M-7.3% | $422.6M-28.8% | $593.6M+2464.7% | $23.1M-93.5% | $354.0M+1672.4% | $20.0M |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0 |
| Accounts Receivable | $789.8M+24.8% | $632.6M+0.6% | $628.7M+10.9% | $566.8M+3.6% | $547.1M-3.4% | $566.1M+4.7% | $540.8M+17.5% | $460.3M-9.4% | $508.1M |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0 |
| Goodwill | $275.7M+6.4% | $259.0M-8.3% | $282.5M+2.5% | $275.6M-5.6% | $291.9M-0.2% | $292.5M+16.7% | $250.7M+5.3% | $238.2M-8.3% | $259.6M |
| Total Liabilities | $19.6B+15.4% | $17.0B+6.6% | $16.0B+7.7% | $14.8B-2.4% | $15.2B-1.5% | $15.4B+16.3% | $13.3B+13.0% | $11.7B-4.9% | $12.3B |
| Current Liabilities | $2.6B+7.7% | $2.4B+18.0% | $2.1B-23.7% | $2.7B+15.8% | $2.3B-0.2% | $2.3B-1.9% | $2.4B+7.3% | $2.2B+1.4% | $2.2B |
| Non-Current Liabilities | $17.0B+16.7% | $14.6B+4.9% | $13.9B+14.7% | $12.1B-5.7% | $12.9B-1.7% | $13.1B+20.2% | $10.9B+14.3% | $9.5B-6.3% | $10.2B |
| Long-Term Debt | $13.2B+16.4% | $11.3B+1.8% | $11.1B+15.7% | $9.6B-5.5% | $10.2B+2.1% | $10.0B+19.5% | $8.3B+14.2% | $7.3B-1.7% | $7.4B |
| Total Equity | $9.2B+9.9% | $8.4B-5.1% | $8.8B+5.9% | $8.4B-2.0% | $8.5B+3.2% | $8.3B+9.4% | $7.6B+7.6% | $7.0B-13.7% | $8.1B |
| Retained Earnings | $5.0B+14.1% | $4.4B-2.0% | $4.5B+9.6% | $4.1B+1.5% | $4.0B+6.7% | $3.8B+34.1% | $2.8B+11.6% | $2.5B-22.4% | $3.3B |
Not reported in any period shown, so not listed: Inventory.
HRNNF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.0B+11.7% | $1.8B-3.7% | $1.8B+9.4% | $1.7B-0.7% | $1.7B+5.7% | $1.6B+27.8% | $1.2B+7.9% | $1.2B-15.8% | $1.4B |
| Depreciation & Amortization | $704.5M+10.3% | $638.9M-2.6% | $656.0M+6.8% | $614.1M-3.7% | $637.9M+3.9% | $614.0M+2.4% | $599.4M+9.5% | $547.5M-5.7% | $580.8M |
| Stock-Based Compensation | N/A | N/A | N/A | $0n/m | $0n/m | $0-100.0% | $771K+5.3% | $733K | N/A |
| Capital Expenditures | $2.2B+14.7% | $1.9B+6.3% | $1.8B+22.3% | $1.5B-3.7% | $1.5B+12.0% | $1.3B+15.4% | $1.2B+12.3% | $1.0B-11.3% | $1.2B |
| Free Cash Flow | -$200.6Mn/m | -$129.2M-354.5% | $50.7M-76.6% | $217.3M+25.6% | $173.0M-29.3% | $244.6M+214.0% | $77.9M-32.3% | $115.1M-42.2% | $198.9M |
| Investing Cash Flow | -$2.6Bn/m | -$2.2Bn/m | -$2.0Bn/m | -$1.5Bn/m | -$1.6Bn/m | -$1.6Bn/m | -$1.3Bn/m | -$1.1Bn/m | -$1.2B |
| Financing Cash Flow | $475.5M-44.5% | $856.3Mn/m | -$130.3Mn/m | -$145.6Mn/m | -$237.1M-144.9% | $528.5Mn/m | -$338.7M-215.8% | $292.4Mn/m | -$160.6M |
| Dividends Paid | $574.7M+11.4% | $516.0M-2.7% | $530.2M+8.4% | $489.2M-0.6% | $492.3M+1.8% | $483.8M+6.7% | $453.6M+10.5% | $410.4M-4.2% | $428.2M |
Not reported in any period shown, so not listed: Share Buybacks.
HRNNF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.4%-0.8pp | 51.2%-2.3pp | 53.4%+1.3pp | 52.1%+1.7pp | 50.5%+3.3pp | 47.1%-4.9pp | 52.0%-0.9pp | 52.9%+0.9pp | 52.0% |
| Operating Margin | 24.8%+1.6pp | 23.2%-0.3pp | 23.5%-0.1pp | 23.5%+1.2pp | 22.3%+2.0pp | 20.3%+0.1pp | 20.2%-1.1pp | 21.3%+0.7pp | 20.6% |
| Net Margin | 14.8%+1.2pp | 13.6%-0.2pp | 13.8%+0.3pp | 13.5%0.0pp | 13.5%-11.2pp | 24.6%+12.3pp | 12.4%+13.4pp | -1.1%-12.4pp | 11.4% |
| Return on Equity | 10.6%+1.0pp | 9.6%+0.3pp | 9.3%0.0pp | 9.3%+0.4pp | 8.9%-8.1pp | 17.1%+8.9pp | 8.2%+8.9pp | -0.7%-7.4pp | 6.7% |
| Return on Assets | 3.4%+0.2pp | 3.1%-0.2pp | 3.3%0.0pp | 3.3%+0.1pp | 3.2%-2.7pp | 5.9%+3.0pp | 3.0%+3.2pp | -0.3%-2.9pp | 2.6% |
| Current Ratio | 0.610.0x | 0.60+0.1x | 0.500.0x | 0.51-0.1x | 0.61-0.1x | 0.67+0.3x | 0.41-0.1x | 0.49+0.1x | 0.37 |
| Debt-to-Equity | 1.43+0.1x | 1.35+0.1x | 1.26+0.1x | 1.150.0x | 1.200.0x | 1.21+0.1x | 1.11+0.1x | 1.04+0.1x | 0.91 |
| Liabilities-to-Equity | 2.13+0.1x | 2.03+0.2x | 1.810.0x | 1.770.0x | 1.78-0.1x | 1.87+0.1x | 1.76+0.1x | 1.67+0.2x | 1.52 |
| Asset Turnover | 0.230.0x | 0.230.0x | 0.240.0x | 0.250.0x | 0.240.0x | 0.240.0x | 0.240.0x | 0.240.0x | 0.23 |
| FCF Margin | -3.0%-0.9pp | -2.2%-3.0pp | 0.9%-2.9pp | 3.8%+0.7pp | 3.1%-1.2pp | 4.3%+2.7pp | 1.6%-1.0pp | 2.5%-1.6pp | 4.2% |
Note: The current ratio is below 1.0 (0.61), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where HYDRO ONE LTD Ranks
Frequently Asked Questions
What is HYDRO ONE LTD's annual revenue?
HYDRO ONE LTD (HRNNF) reported $6.6B in total revenue for fiscal year 2025. This represents a 11.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is HYDRO ONE LTD's revenue growing?
HYDRO ONE LTD (HRNNF) revenue grew by 11.9% year-over-year, from $5.9B to $6.6B in fiscal year 2025.
Is HYDRO ONE LTD profitable?
Yes, HYDRO ONE LTD (HRNNF) reported a net income of $976.5M in fiscal year 2025, with a net profit margin of 14.8%.
What is HYDRO ONE LTD's EBITDA?
HYDRO ONE LTD (HRNNF) had EBITDA of $2.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does HYDRO ONE LTD have?
As of fiscal year 2025, HYDRO ONE LTD (HRNNF) had $400.4M in cash and equivalents against $13.2B in long-term debt.
What is HYDRO ONE LTD's gross margin?
HYDRO ONE LTD (HRNNF) had a gross margin of 50.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is HYDRO ONE LTD's operating margin?
HYDRO ONE LTD (HRNNF) had an operating margin of 24.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is HYDRO ONE LTD's net profit margin?
HYDRO ONE LTD (HRNNF) had a net profit margin of 14.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does HYDRO ONE LTD pay dividends?
Yes, HYDRO ONE LTD (HRNNF) paid $0.96 per share in dividends during fiscal year 2025.
What is HYDRO ONE LTD's return on equity (ROE)?
HYDRO ONE LTD (HRNNF) has a return on equity of 10.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is HYDRO ONE LTD's free cash flow?
HYDRO ONE LTD (HRNNF) recorded an outflow of $200.6M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is HYDRO ONE LTD's operating cash flow?
HYDRO ONE LTD (HRNNF) generated $2.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are HYDRO ONE LTD's total assets?
HYDRO ONE LTD (HRNNF) had $28.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are HYDRO ONE LTD's capital expenditures?
HYDRO ONE LTD (HRNNF) invested $2.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is HYDRO ONE LTD's current ratio?
HYDRO ONE LTD (HRNNF) had a current ratio of 0.61 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is HYDRO ONE LTD's debt-to-equity ratio?
HYDRO ONE LTD (HRNNF) had a debt-to-equity ratio of 1.43 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is HYDRO ONE LTD's liabilities-to-equity ratio?
HYDRO ONE LTD (HRNNF) had a liabilities-to-equity ratio of 2.13 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is HYDRO ONE LTD's return on assets (ROA)?
HYDRO ONE LTD (HRNNF) had a return on assets of 3.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is HYDRO ONE LTD's P/E ratio?
HYDRO ONE LTD (HRNNF) trades at 23.9x earnings, its market capitalization divided by $976.5M net income, FY2025. The market capitalization is $23.4B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is HYDRO ONE LTD's price-to-sales ratio?
HYDRO ONE LTD (HRNNF) trades at 3.5x sales, its market capitalization divided by $6.6B revenue, FY2025. The market capitalization is $23.4B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is HYDRO ONE LTD's Altman Z-Score?
HYDRO ONE LTD (HRNNF) has an Altman Z-Score of 1.33, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is HYDRO ONE LTD's Piotroski F-Score?
HYDRO ONE LTD (HRNNF) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are HYDRO ONE LTD's earnings high quality?
HYDRO ONE LTD (HRNNF) has an earnings quality ratio of 2.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can HYDRO ONE LTD cover its interest payments?
HYDRO ONE LTD (HRNNF) has an interest coverage ratio of 0.20x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.