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Fortum

19.94 EUR

-1.43 %

29,197 following

FORTUM

NASDAQ Helsinki

Multi

Energy

-1.43 %
+9.68 %
+10.38 %
+11.71 %
+20.01 %
+50.04 %
+45.18 %
-2.54 %
+250.76 %

Fortum is active in the energy sector. In addition to the provision of electricity, a number of technical solutions are offered in heat optimization as well as apps that are used to keep track of energy consumption. The company also provides charging stations for electric cars. The largest activity is found around the Nordic market. The company was founded in 1998 and is headquartered in Espoo.

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Market cap
17.89B EUR
Turnover
26.83M EUR
P/E (adj.) (25e)
23.78
EV/EBIT (adj.) (25e)
18.9
P/B (25e)
2.09
EV/S (25e)
3.61
Dividend yield-% (25e)
3.78 %
Coverage
Recommendation
Reduce
Target price
17.00 EUR
Updated
2026-01-29
Juha Kinnunen
Juha Kinnunen

Analyst

Latest research

Latest analysis report

Released: 2025-10-30

Revenue and EBIT-%

Revenue B

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
3/2
2026

Annual report '25

31/3
2026

General meeting '26

29/4
2026

Interim report Q1'26

Risk
Business risk
Valuation risk
Low
High
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Fortums kapitalmarknadsdag: Positiv optionalitet
Analyst Comment by
Juha Kinnunen

Fortums kapitalmarknadsdag: Positiv optionalitet

Fortums investerardag igår belyste väl de positiva marknadsutsikterna i Norden, företagets investeringsplaner och möjligheter. Företaget har byggt strategiskt viktig positiv optionalitet som förberedelse för en ökning i elefterfrågan och därmed elpriset, men är samtidigt noggrant med sin kapitalallokering. Dagens presentation erbjöd inga betydande nyheter, vilket uppenbarligen var en besvikelse för vissa, men helhetsbilden är enligt vår mening väntat positiv. Vi ser ingen anledning att göra några ändringar i vår ståndpunkt i detta skede, men vi anser att dagens presentation ändå tog en positiv vändning.

Fortum
Fortum Investor Day 2025
Webcast

Fortum Investor Day 2025

Fortum invites analysts, institutional investors, other capital markets representatives and media to its Investor Day on Tuesday, 25 November 2025 at 10:00 a.m. EET. The event will be held in Helsinki, Finland, and as a live webcast open to all.

Fortum
Fortum uppdaterar sina långsiktiga finansiella mål, strategiska mål och nyckeltal
Analyst Comment by
Juha Kinnunen

Fortum uppdaterar sina långsiktiga finansiella mål, strategiska mål och nyckeltal

Fortums nya långsiktiga mål är en jämförbar avkastning på sysselsatt kapital (RONA) på 14 %, vilket indikerar en stark förbättring från nuvarande nivå till 2030. Med hänvisning till morgonens informationspaket såg vi inga väsentliga förändringar i den stora bilden, och de stora målen för resultatförbättring förklaras delvis av en svag jämförelsepunkt i förhållande till potentialen under de senaste 12 månaderna. Fortum anordnar idag en kapitalmarknadsdag där utvecklingen kommer att presenteras mer i detalj.

Fortum
Forum discussions
A new consensus was found fresh off the press from Vara’s website. I’ve plugged the figures into my table as usual. There is nothing surprising here for those following the stock. The share price reaction is unlikely to be significant in either direction. Finns have been selling ...
yesterday
by Pappa Tunturi
31
Thank you for the level-headed answers and your justifications. Agreed. From Fortum’s perspective, the essential thing is who produces the required electricity. Growing demand requires more production capacity, for which I don’t think Fortum has a clear, understandable plan—at least...
1/26/2026, 2:12 PM
12
Dividend with a lightened model this spring, but otherwise this doesn’t look bad at all ”In our opinion, the most essential thing for the investment case is that the price of electricity has turned upwards in Finland, especially in the 2026 futures. We have not made significant changes...
12 hours ago
by PörssiPatruuna
11
Fortum’s multiples have certainly stretched significantly. It hasn’t traded at a P/E ratio over 20 in years. AI works wonders. It’ll be interesting to see the reaction to the Q4 figures. I sold the rest at €19–20. I should have been a bit more patient. I find it hard to believe there...
1/27/2026, 7:30 AM
7
Fortum has a reasonably clear section on its “investor presentation” pages, where answers to many points can be found. In practice, Fortum is waiting with its large renewables portfolio for the predicted 25 TWh data center surge to kick off. Hydropower provides good optimization ...
1/26/2026, 12:47 PM
by skuuppia
7
It is, of course, always good to remember that electricity is mostly sold forward at fixed prices, and this is at a slightly lower level than last year. Granted, hydro and nuclear power can now be optimized to some extent for more favorable prices. Interestingly, it’s worth noting...
1/27/2026, 1:31 PM
by Gadus
6
There has been high-quality, fact-based discussion regarding Fortum’s stock valuation over the past few days. It has become quite clear that one could easily justify a lower share price than the current one. For example, the P/E ratio is high compared to its history; the investment...
1/27/2026, 11:06 AM
by PörssiPatruuna
5
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