Fortum FORTUM.HE
Public, HEL, reports in EUR. Founded 1998.
Theme: Energy.
Scandinavian energy.
Financials millions, EUR
| Period | Revenue | Growth % | Gross margin % | R&D % | Operating income | Operating margin % | Net income | EPS (diluted) | Rule of 40 | basis |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 5.2bn EUR | -11.0 % | 42.4 % | – | 1.0bn EUR | 19.6 % | 917m EUR | 0.85 | 8.6 | |
| 2024 | 5.8bn EUR | -13.6 % | 43.2 % | – | 1.1bn EUR | 19.3 % | 1.1bn EUR | 1.30 | 5.7 | |
| 2023 | 6.7bn EUR | -13.7 % | 41.6 % | – | 1.5bn EUR | 23.0 % | -2.1bn EUR | -2.31 | 9.3 | |
| 2022 | 7.8bn EUR | – | 36.2 % | – | 1.6bn EUR | 20.7 % | -2.4bn EUR | -2.72 | – | |
| 2026-Q2 | 1.1bn EUR | 15.4 % | 35.6 % | – | 107m EUR | 9.5 % | 109m EUR | 0.12 | 24.9 | |
| 2026-Q1 | 2.0bn EUR | 21.3 % | 40.3 % | – | 520m EUR | 26.1 % | 421m EUR | 0.47 | 47.4 | |
| 2025-Q4 | 1.4bn EUR | – | 40.6 % | – | 251m EUR | 17.4 % | 246m EUR | 0.27 | – | |
| 2025-Q2 | 974m EUR | – | 40.6 % | – | 115m EUR | 11.8 % | 104m EUR | 0.12 | – | |
| 2025-Q1 | 1.6bn EUR | – | 44.5 % | – | – | – | 363m EUR | 0.40 | – |
Sources
- 2025: 2025_10-K_Summary_2026-07-10.xlsx
- 2024: 2025_10-K_Summary_2026-07-10.xlsx
- 2023: 2025_10-K_Summary_2026-07-10.xlsx
- 2022: yfinance
- 2026-Q2: yfinance
- 2026-Q1: yfinance
- 2025-Q4: yfinance
- 2025-Q2: yfinance
- 2025-Q1: yfinance
Latest quarter 2026-Q2, ended 2026-06-30, vs 2025-Q2
| 2026-Q2 | 2025-Q2 | change | |
|---|---|---|---|
| Revenue | 1.1bn EUR | 974m EUR | +150m (+15 %) |
| Op. margin | 9.5 % | 11.8 % | -2.3 pts |
| FCF | 221m EUR | 74m EUR | +147m (+199 %) |
| Op. income | 107m EUR | ||
| Net income | 109m EUR | ||
| EPS (diluted) | 0.12 | 0.0 % |
Cash flow millions, EUR
| Period | Cash from operations | Capex | Free cash flow | FCF margin % | CFO / net income % | NOPAT | Unlevered FCF | Levered FCF | Net change in cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | 840m EUR | 499m EUR | 341m EUR | 6.6 % | 91.6 % | 827m EUR | 571m EUR | 192m EUR | -1.2bn EUR |
| 2024 | 1.4bn EUR | 472m EUR | 920m EUR | 15.9 % | 131.8 % | 929m EUR | 931m EUR | 883m EUR | -47m EUR |
| 2023 | 1.8bn EUR | 576m EUR | 1.2bn EUR | 18.5 % | – | 1.5bn EUR | 1.5bn EUR | -379m EUR | 300m EUR |
| 2022 | -8.8bn EUR | 479m EUR | -9.2bn EUR | -118.9 % | – | – | – | -12.9bn EUR | -3.7bn EUR |
NOPAT = op. income × (1 − effective tax rate); UFCF = NOPAT + D&A + ΔNWC − capex; LFCF = FCF + net debt issued.
Quotes
| Price | 23.73 EUR | 2026-09-15 | |
|---|---|---|---|
| Market cap | 21.3bn EUR | 24.6bn USD | 2026-09-15 |
| 52w high | 25.84 EUR | 2026-09-15 | |
| 52w low | 15.02 EUR | 2026-09-15 | |
| Off 52w high % | -8.2 % | ||
| P/S | 4.1 | ||
| Lifetime CAGR | 5.9 % |
Notes
None.