Fortum Oyj (FORTUM.HE) stock analysis

In our weekly check, Fortum Oyj is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 18 pass, warnings: 5, red flags: 2.

About Fortum Oyj

Fortum Oyj is an Utilities company (Renewable Utilities) based in Finland, listed on HEL as FORTUM.HE.

What our checks show for FORTUM.HE

Red flags

• Revenue fell 14.6% a year over the last 3 years.
• The stock has fallen as much as 72% from a peak. Would you have held through that?

Warning signs

• Earnings per share fell 7% a year over the last 3 years.
• Net profit fell 6.5% a year over the last 3 years.
• The dividend takes 80% of profit: little cushion if profit falls.
• The stock is still below its previous peak.
• Return on capital (ROCE) is only 7.2%.

Strengths

• Net debt is only 1.2x a year of EBITDA: the balance sheet has room.
• The net margin rose by 15.2 points over 5 years, to 15.1%.
• The gross margin is 26.3% and has risen by 19.8 points: pricing power is holding.
• Analysts expect earnings per share to grow about 12.4% a year over the next years.
• A large company: market value $23.19 billion.
• Beta 0.09: the stock usually moves less than the market.

Next earnings report: 2026-10-28

Similar companies

VER.VI · ENLT · CWEN · ORA · BEPC

Questions

What grade does Fortum Oyj (FORTUM.HE) have?

In our weekly check, Fortum Oyj is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 18 pass, warnings: 5, red flags: 2. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of FORTUM.HE stock?

This week's biggest flags for Fortum Oyj: Weak revenue growth, Deep past fall, Weak EPS growth. In total 7 of 25 checks show a warning or a red flag.

What does Fortum Oyj do?

Fortum Oyj is an Utilities company (Renewable Utilities) based in Finland, listed on HEL as FORTUM.HE.

When does Fortum Oyj report earnings next?

The next earnings report is expected on 2026-10-28. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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