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Fortum Oyj, together with its subsidiaries, engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally. It operates through Generation, Consumer Solutions, and Other Operations segments. The Generation segment offers low-carbon hydro, nuclear, onshore wind, and solar power generation; district heating and cooling; and decarbonization services. The Consumer Solutions segment offers invoicing and customer services; electricity and related value-added products; and digital services for consumers, including small- and medium-sized enterprises. It is also involved in the electricity and gas retail business; power trading and energy supply services; industrial site development; and battery recycling activities. The company was formerly known as IVO-Neste Yhtymä Oyj and changed its name to Fortum Oyj in June 1998. Fortum Oyj was incorporated in 1998 and is headquartered in Espoo, Finland.
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Fortum Oyj is a Finland-headquartered utility providing electricity generation, distribution, district heating and energy services, with a strategic emphasis on low-carbon power and grid operations. Long-term growth drivers include electrification and decarbonisation of energy systems, expansion of renewable capacity and demand for integrated energy services, which may benefit from stable Nordic demand and supportive policy frameworks. Investors may find the company attractive for its scale in core markets and exposure to structural shifts toward cleaner electricity.
The principal risks are regulatory and policy changes in power markets, wholesale price and commodity volatility, operational and project execution risks for generation assets, and political or market disruptions that could pressure cash flows and dividends.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 936.00M | 1399.00M | 1584.00M | 455.00M | -289.00M |
| Minority interest | 2.00M | 4.00M | -2.00M | 7874.00M | 852.00M |
| Net income | 765.00M | 1164.00M | -2069.00M | 1011.00M | -114.00M |
| Selling general administrative | 113.00M | 110.00M | 104.00M | 112.00M | 302.00M |
| Gross profit | 2088.00M | 2398.00M | 2903.00M | 3332.00M | 7230.00M |
| Reconciled depreciation | 315.00M | 379.00M | 359.00M | 566.00M | 1281.00M |
| Ebit | 1124.00M | 1663.00M | 1851.00M | 1871.00M | 6220.00M |
| Ebitda | 1439.00M | 2042.00M | 2210.00M | 2872.00M | 7501.00M |
| Depreciation and amortization | 315.00M | 379.00M | 359.00M | 1001.00M | 1281.00M |
| Operating income | 939.00M | 1325.00M | 1662.00M | 1871.00M | 6220.00M |
| Other operating expenses | 4050.00M | 4475.00M | 5049.00M | 6708.00M | 108314.00M |
| Interest expense | 188.00M | 260.69M | 268.00M | 250.00M | 203.00M |
| Tax provision | 173.00M | 239.00M | 69.00M | -556.00M | -175.00M |
| Interest income | 111.00M | 360.00M | 166.00M | 94.00M | 305.00M |
| Net interest income | -38.00M | 83.00M | -135.00M | 110.00M | 107.00M |
| Income tax expense | 173.00M | 239.00M | 69.00M | -556.00M | -175.00M |
| Total revenue | 4989.00M | 5800.00M | 6711.00M | 8804.00M | 112400.00M |
| Total operating expenses | 1149.00M | 1073.00M | 1241.00M | 1236.00M | 3144.00M |
| Cost of revenue | 2901.00M | 3402.00M | 3808.00M | 5472.00M | 105170.00M |
| Total other income expense net | -3.00M | 74.00M | -78.00M | -1416.00M | -6509.00M |
| Discontinued operations | - | - | - | -3428.00M | -3246.00M |
| Net income from continuing ops | 763.00M | 1160.00M | 1515.00M | 1011.00M | -114.00M |
| Net income applicable to common shares | - | - | - | -2416.00M | 739.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 16444.00M | 17307.00M | 18739.00M | 23642.00M | 149661.00M |
| Intangible assets | 347.00M | 342.00M | 394.00M | 407.00M | 1146.00M |
| Other current assets | 516.00M | 693.00M | 1592.00M | 6588.00M | 90382.00M |
| Total liab | 7824.00M | 8154.00M | 10241.00M | 15905.00M | 135996.00M |
| Total stockholder equity | 8539.00M | 9074.00M | 8438.00M | 7670.00M | 12131.00M |
| Other current liab | 312.00M | 1024.00M | 1602.00M | 5276.00M | 985.00M |
| Common stock | 3046.00M | 3046.00M | 3046.00M | 3046.00M | 3046.00M |
| Capital stock | 3046.00M | 3046.00M | 3046.00M | 3046.00M | 3046.00M |
| Retained earnings | 6289.32M | 6780.00M | 6618.00M | 6467.00M | 10062.00M |
| Other liab | - | - | - | 2004.00M | 27032.00M |
| Good will | 211.00M | 207.00M | 249.00M | 250.00M | 1021.00M |
| Other assets | - | 1.00M | -2.00M | 3.00M | 26553.00M |
| Cash | 2902.00M | 4045.00M | 4183.00M | 3918.00M | 7592.00M |
| Total current liabilities | 2289.00M | 1877.00M | 3709.00M | 10123.00M | 100226.00M |
| Current deferred revenue | - | - | 19.00M | - | 78570.00M |
| Net debt | 1843.00M | 783.00M | 1728.00M | 3867.00M | 9628.00M |
| Short term debt | 1151.00M | 492.00M | 1575.00M | 4127.00M | 8519.00M |
| Short long term debt | 1133.00M | 476.00M | 1317.00M | 4108.00M | 8389.00M |
| Short long term debt total | 4745.00M | 4828.00M | 5911.00M | 7785.00M | 17220.00M |
| Other stockholder equity | 73.00M | 73.00M | 72.00M | -1843.00M | -977.00M |
| Property plant equipment | - | - | - | 6754.00M | 17877.00M |
| Total current assets | 5030.00M | 6529.00M | 7347.00M | 10971.00M | 100262.00M |
| Net tangible assets | - | - | - | 7013.00M | 9964.00M |
| Short term investments | - | 90.00M | 14.00M | - | 13.00M |
| Net receivables | 1100.00M | 1281.00M | 1120.00M | 1625.00M | 13.00M |
| Long term debt | 3507.00M | 4258.00M | 4476.00M | 3558.00M | 7756.00M |
| Inventory | 512.00M | 420.00M | 452.00M | 465.00M | 2275.00M |
| Accounts payable | 826.00M | 361.00M | 488.00M | 720.00M | 12152.00M |
| Accumulated other comprehensive income | -871.63M | -825.00M | -1298.00M | - | - |
| Non currrent assets other | 275.36M | 1026.00M | 3179.00M | 3812.00M | 19670.00M |
| Non current assets total | 11414.00M | 10777.00M | 11392.00M | 12668.00M | 49399.00M |
| Capital lease obligations | 105.00M | 94.00M | 118.00M | 119.00M | 1075.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -88.00M | 604.00M | 6399.00M | -985.00M | 2847.00M |
| Change to liabilities | - | - | - | 0.00M | 0.00M |
| Total cashflows from investing activities | -614.00M | 604.00M | 1101.00M | -986.00M | -5727.00M |
| Net borrowings | -170.00M | -976.00M | -1622.00M | -3637.00M | 6488.00M |
| Total cash from financing activities | -1461.00M | -2043.00M | -2614.00M | 6070.00M | 6013.00M |
| Change to operating activities | - | - | - | 334.00M | 6228.00M |
| Net income | 763.00M | 1160.00M | 1514.00M | 1011.00M | -114.00M |
| Change in cash | -1233.00M | -47.00M | 264.00M | -3673.00M | 5284.00M |
| Begin period cash flow | 4136.00M | 4183.00M | 3919.00M | 7592.00M | 2308.00M |
| End period cash flow | 2903.00M | 4136.00M | 4183.00M | 3919.00M | 7592.00M |
| Total cash from operating activities | 840.00M | 1392.00M | 1819.00M | -8767.00M | 4970.00M |
| Depreciation | 315.00M | 379.00M | 359.00M | 566.00M | 1281.00M |
| Other cashflows from investing activities | -25.00M | 356.00M | 1768.00M | -3711.00M | -7972.00M |
| Dividends paid | 1256.00M | 1032.00M | 817.00M | -1013.00M | -995.00M |
| Change to inventory | -94.00M | -17.00M | -14.00M | -201.00M | -192.00M |
| Change to account receivables | 94.00M | 243.00M | 348.00M | -352.00M | -5892.00M |
| Other cashflows from financing activities | -35.00M | -35.00M | -175.00M | 12971.00M | 9323.00M |
| Change to netincome | - | - | - | -6697.00M | 2822.00M |
| Capital expenditures | 500.00M | 483.00M | 576.00M | 534.00M | 1178.00M |
| Change in working capital | -72.00M | 95.00M | 191.00M | -218.00M | 143.00M |
| Stock based compensation | - | - | 6.00M | - | - |
| Other non cash items | -166.00M | -242.00M | -251.00M | -10126.00M | 3660.00M |
| Free cash flow | 340.00M | 909.00M | 1243.00M | -9301.00M | 3792.00M |
Sector: Utilities Industry: Utilities - Renewable
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| FOJCY Fortum Oyj ADR |
0.11 2.16% |
5.20 | 25.20 | 20.45 | 4.54 | 2.34 | 4.20 | 14.56 |
| DNNGY Orsted A/S ADR |
0.13 1.84% |
7.20 | 83.60 | 25.45 | 0.46 | 1.47 | 3.58 | 11.21 |
| OEZVY Verbund AG ADR |
0.69 4.49% |
16.07 | 10.72 | 13.53 | 2.57 | 3.06 | 2.51 | 6.50 |
| FOJCF Fortum Oyj |
- -% |
26.74 | 26.44 | 18.35 | 4.62 | 2.14 | 4.15 | 15.15 |
| AXICY AXIA Energia SA |
0.02 0.24% |
8.42 | 10.18 | 20.75 | 0.55 | 1.00 | 3.90 | 16.47 |
Fortum Oyj, together with its subsidiaries, engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally. It operates through Generation, Consumer Solutions, and Other Operations segments. The Generation segment offers low-carbon hydro, nuclear, onshore wind, and solar power generation; district heating and cooling; and decarbonization services. The Consumer Solutions segment offers invoicing and customer services; electricity and related value-added products; and digital services for consumers, including small- and medium-sized enterprises. It is also involved in the electricity and gas retail business; power trading and energy supply services; industrial site development; and battery recycling activities. The company was formerly known as IVO-Neste Yhtymä Oyj and changed its name to Fortum Oyj in June 1998. Fortum Oyj was incorporated in 1998 and is headquartered in Espoo, Finland.
| Name | Title | Year Born |
|---|---|---|
| Mr. Markus Heikki-Erdem Rauramo | Pres & CEO | 1968 |
| Dr. Bernhard Gunther | Chief Financial Officer | 1967 |
| Mr. Ensio Väisänen | Head of Corp. Financial Services Unit | NA |
| Ms. Ingela Ulfves M.Sc. (Econ.) | VP of Investor Relations & Financial Communications | 1966 |
| Ms. Nora Steiner-Forsberg L.L.M. | Gen. Counsel & Sec. of the Board of Directors | 1973 |
| Ms. Heli Kurki | Head of Publicity & Communications | NA |
| Ms. Eveliina Dahl M.Sc. | Sr. VP of People | 1983 |
| Mr. Per Langer M.Sc. (Econ.) | Exec. VP of City Solutions | 1969 |
| Mr. Erkki Kari-Koskinen | Head of Markets | NA |
| Mr. Anders Egelrud | Managing Director of Fortum Värme | 1965 |
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