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Fortum Oyj (FORTUM.HE)

EUR20.32 +0.33 (+1.63%)
FI HEL Utilities Renewable Utilities
Address CD Building 2150
Espoo, FI
CEO Markus Heikki-Erdem Rauramo
Website fortum.com
IPO 2000-01-03
ISIN FI0009007132

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Also trades on Deutsche Börse · FOT.DE (EUR) NASDAQ Helsinki · FORTUM.HE (EUR) Other OTC · FOJCF (USD) Other OTC · FOJCY (USD)
Description

Fortum Oyj, often operating through its subsidiaries, focuses on the production and distribution of electricity and thermal energy. Its operational footprint spans the Nordic countries, Germany, the United Kingdom, Russia, the Netherlands, the Baltic Sea region, and other international territories. The company's Generation segment is responsible for electricity production, leveraging diverse resources such as nuclear, hydroelectric, wind, and thermal power, while also providing services in power portfolio optimization, energy trading, industrial intelligence, and specialized nuclear services. The City Solutions division develops integrated urban solutions, encompassing heating and cooling systems, waste-to-energy facilities, biomass applications, various circular economy initiatives, and solar energy production. Through its Consumer Solutions segment, Fortum manages retail electricity and gas businesses, including billing, customer support, and the provision of value-added electricity products and digital services to approximately 2.4 million customers. The Russia segment is specifically dedicated to generating and selling power and heat within Russia. Additionally, the Uniper segment contributes to power generation, energy trading, and optimization strategies for the group. Fortum Oyj was established in 1998 and is headquartered in Espoo, Finland.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR20.32 +0.33 (+1.63%)
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Volume Profile
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Liquidity & share structure
Average Volume
841.3K
Beta
0.10
Float Shares
412.72M
Free Float %
46.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.03% -1.99% -9.33% +6.65% +3.53% +9.24% +38.90% +44.67% -11.36% +56.55% +338.39%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
20.32
DCF (Unlevered) 248.20 +1,121.4%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 5% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 0 0
Hold 9 +1
Sell 8 0
Strong Sell 3 0
Quality scores
Altman Z-Score
2.61
Grey zone
Piotroski F-Score
4 / 9
Average
MOAT Score
3 / 10
No MOAT
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
1 / 5
Low
ROE Score
4 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Renewable Utilities: +1.3%
    -14.0% Q1'26: +21.3% (vs Q1'25)
  • EPS growth Renewable Utilities: +6.7%
    -34.6% Q1'26: +17.5% (vs Q1'25)
  • FCF margin FCF growth · Renewable Utilities: +50.4%
    +12.7% Q1'26: +12.9% (vs Q1'25)
  • EBIT margin Renewable Utilities: +22.3%
    +20.8% Q1'26: +28.4% (vs Q1'25)
  • ROIC Renewable Utilities: +3.5%
    +8.0% Q1'26: +18.6% (vs Q1'25)
  • Share dilution Renewable Utilities: +0.0%
    +0.0% Q1'26: +0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Renewable Utilities: 3.24×
    3.61× Q1'26: 1.53× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.12) × ERP
WACC = 79% × Ke + 21% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 244.98 Current price: 20.32
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
16 Rev. Ana.
13 EPS Ana.
Dec 2027
18 Rev. Ana.
16 EPS Ana.
Dec 2028
15 Rev. Ana.
11 EPS Ana.
Dec 2029
11 Rev. Ana.
4 EPS Ana.
Dec 2030
7 Rev. Ana.
4 EPS Ana.
Revenue
3.46B
est: 3.61B (-4.2%)
3.63B
est: 3.51B (+3.4%)
4.52B
est: 4.37B (+3.5%)
5.24B
est: 5.15B (+1.7%)
5.45B
est: 5.55B (-1.9%)
49.02B
est: 51.91B (-5.6%)
112.40B
est: 78.07B (+44.0%)
8.80B
est: 8.60B (+2.3%)
6.71B
est: 6.35B (+5.7%)
5.80B
est: 5.92B (-2.0%)
4.99B
est: 5.33B (-6.3%)
5.51B
5.03B – 5.85B
+3.4% YoY
5.29B
4.36B – 5.99B
-4.0% YoY
5.41B
5.39B – 5.42B
+2.3% YoY
5.99B
5.21B – 6.57B
+10.7% YoY
6.01B
5.23B – 6.60B
+0.5% YoY
EBITDA
379.00M
est: 715.12M (-47.0%)
1.05B
est: 696.22M (+50.2%)
1.65B
est: 865.16M (+91.2%)
1.50B
est: 1.02B (+46.6%)
2.47B
est: 1.10B (+124.7%)
3.50B
est: 10.29B (-65.9%)
4.82B
est: 15.47B (-68.8%)
2.46B
est: 1.70B (+44.2%)
2.27B
est: 2.75B (-17.3%)
1.50B
est: 2.56B (-41.5%)
1.34B
est: 2.31B (-41.9%)
2.38B
2.18B – 2.54B
+3.4% YoY
2.29B
1.89B – 2.59B
-4.0% YoY
2.34B
2.34B – 2.35B
+2.3% YoY
2.59B
2.26B – 2.84B
+10.7% YoY
2.60B
2.27B – 2.86B
+0.5% YoY
EBIT
-97.00M
est: 569.44M (-117.0%)
638.00M
est: 554.40M (+15.1%)
1.15B
est: 688.93M (+67.1%)
1.19B
est: 812.88M (+46.5%)
1.90B
est: 876.36M (+116.6%)
2.41B
est: 8.19B (-70.5%)
4.20B
est: 12.32B (-65.9%)
1.97B
est: 1.36B (+45.3%)
1.91B
est: 2.13B (-10.1%)
1.12B
est: 1.99B (-43.6%)
1.04B
est: 1.79B (-41.9%)
1.85B
1.69B – 1.96B
+3.4% YoY
1.77B
1.46B – 2.01B
-4.0% YoY
1.81B
1.81B – 1.82B
+2.3% YoY
2.01B
1.75B – 2.20B
+10.7% YoY
2.02B
1.75B – 2.21B
+0.5% YoY
Net Income
4.14B
est: 727.42M (+468.9%)
496.00M
est: 573.32M (-13.5%)
866.00M
est: 627.90M (+37.9%)
843.00M
est: 742.76M (+13.5%)
1.48B
est: 1.34B (+10.7%)
1.82B
est: 1.42B (+28.2%)
-114.00M
est: 1.71B (-106.6%)
1.01B
est: 1.48B (-31.7%)
-2.07B
est: 1.29B (-260.8%)
1.16B
est: 944.00M (+23.3%)
765.00M
est: 823.00M (-7.0%)
941.00M
888.77M – 1.02B
+14.3% YoY
850.37M
741.44M – 1.00B
-9.6% YoY
886.80M
751.70M – 1.03B
+4.3% YoY
942.18M
783.08M – 1.06B
+6.2% YoY
960.85M
798.60M – 1.08B
+2.0% YoY
SGA
54.00M
est: 50.34M (+7.3%)
51.00M
est: 49.01M (+4.1%)
60.00M
est: 60.90M (-1.5%)
77.00M
est: 71.86M (+7.2%)
94.00M
est: 77.47M (+21.3%)
974.00M
est: 724.06M (+34.5%)
302.00M
est: 1.09B (-72.3%)
112.00M
est: 119.99M (-6.7%)
104.00M
est: 178.88M (-41.9%)
110.00M
est: 166.79M (-34.0%)
454.00M
est: 150.07M (+202.5%)
155.12M
141.58M – 164.95M
+3.4% YoY
148.91M
122.89M – 168.72M
-4.0% YoY
152.36M
151.92M – 152.81M
+2.3% YoY
168.65M
146.74M – 185.06M
+10.7% YoY
169.46M
147.45M – 185.96M
+0.5% YoY
EPS
4.66
est: 0.81 (+474.8%)
0.56
est: 0.64 (-12.4%)
0.98
est: 0.70 (+40.0%)
0.95
est: 0.83 (+14.8%)
1.67
est: 1.49 (+11.9%)
2.05
est: 1.59 (+29.3%)
-0.13
est: 1.91 (-106.8%)
1.14
est: 1.65 (-30.9%)
-2.31
est: 1.43 (-261.0%)
1.30
est: 1.09 (+19.6%)
0.85
est: 0.83 (+2.0%)
1.06
0.99 – 1.14
+27.3% YoY
0.94
0.83 – 1.12
-11.8% YoY
0.96
0.84 – 1.15
+2.5% YoY
1.05
0.87 – 1.18
+9.5% YoY
1.07
0.89 – 1.21
+2.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 B 3/5 1/5 4/5 5/5 3/5 2/5 2/5
2026-05-08 B 3/5 1/5 4/5 5/5 3/5 2/5 2/5
2026-05-07 B 3/5 1/5 4/5 5/5 3/5 2/5 2/5
2026-05-06 B 3/5 1/5 4/5 5/5 3/5 2/5 2/5
2026-05-05 B 3/5 1/5 4/5 5/5 3/5 2/5 2/5
2026-05-04 B 3/5 1/5 4/5 5/5 3/5 2/5 2/5
2026-04-30 B 3/5 1/5 4/5 5/5 3/5 2/5 2/5
2026-04-29 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-28 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-27 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-24 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-23 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-22 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-21 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-20 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-17 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-16 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5
2026-04-15 B- 3/5 1/5 3/5 5/5 2/5 2/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
235.19M
OE per share TTM
0.26
Owner's Yield
1.28%
Maintenance CapEx ratio
8.79%
Maint CapEx / Avg PPE
38.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
233.0K
Shares Outstanding
897.26M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Markus Heikki-Erdem Rauramo President & Chief Executive Officer 2M male
Heli Kurki Head of Publicity & Communications female
Ingela Ulfves Vice President of Investor Relations & Financial Communications female
Karin Svenske Nyberg Executive Vice President of People female
Kati Levoranta Executive Vice President of Legal & General Counsel female
Mikael Rönnblad Executive Vice President of Consumer Solutions male
Nebahat Albayrak Executive Vice President of Sustainability & Corporate Relations female
Simon-Erik Ollus Executive Vice President of Corporate Customers & Markets male
Alexander Anatolyevich Chuvaev Head of the Russia Division male
Tiina Marjukka Tuomela Chief Financial Officer female
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits