Financials Fortum Oyj

Equities

FORTUM

FI0009007132

Electric Utilities

Real-time Estimate Tradegate 05:34:00 24/06/2024 pm IST 5-day change 1st Jan Change
14.39 EUR -1.89% Intraday chart for Fortum Oyj +1.20% +9.92%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,542 17,499 23,975 13,943 11,718 13,163 - -
Enterprise Value (EV) 1 24,802 24,522 33,603 15,027 12,660 14,197 14,403 14,599
P/E ratio 13.2 x 9.61 x 32.5 x -5.71 x 7.77 x 12.9 x 15.1 x 16.6 x
Yield 5% 5.69% 4.22% 5.86% 8.81% 6.76% 5.84% 5.32%
Capitalization / Revenue 3.59 x 0.36 x 0.21 x 1.58 x 1.75 x 2.1 x 2.2 x 2.26 x
EV / Revenue 4.55 x 0.5 x 0.3 x 1.71 x 1.89 x 2.27 x 2.41 x 2.51 x
EV / EBITDA 14 x 10.1 x 8.8 x 6.17 x 6.65 x 8.47 x 9.59 x 10.3 x
EV / FCF 18.8 x 16.9 x 8.86 x 9.57 x 11.2 x 14.3 x 19.8 x 21.9 x
FCF Yield 5.32% 5.93% 11.3% 10.4% 8.96% 6.97% 5.05% 4.56%
Price to Book 1.51 x 1.35 x 1.98 x 1.82 x 1.39 x 1.58 x 1.59 x 1.59 x
Nbr of stocks (in thousands) 8,88,294 8,88,294 8,88,294 8,97,264 8,97,264 8,97,264 - -
Reference price 2 22.00 19.70 26.99 15.54 13.06 14.67 14.67 14.67
Announcement Date 06/02/20 12/03/21 03/03/22 02/03/23 07/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,447 49,015 1,12,400 8,804 6,711 6,264 5,979 5,819
EBITDA 1 1,766 2,434 3,817 2,436 1,903 1,676 1,502 1,414
EBIT 1 1,191 1,344 2,536 1,871 1,544 1,314 1,142 1,046
Operating Margin 21.87% 2.74% 2.26% 21.25% 23.01% 20.98% 19.1% 17.98%
Earnings before Tax (EBT) 1 1,728 2,199 -289 455 1,583 1,258 1,094 957.2
Net income 1 1,482 1,823 739 -2,416 1,514 1,013 871 780.9
Net margin 27.21% 3.72% 0.66% -27.44% 22.56% 16.16% 14.57% 13.42%
EPS 2 1.670 2.050 0.8300 -2.720 1.680 1.134 0.9747 0.8815
Free Cash Flow 1 1,320 1,454 3,792 1,570 1,134 989.9 728 666.2
FCF margin 24.23% 2.97% 3.37% 17.83% 16.9% 15.8% 12.18% 11.45%
FCF Conversion (EBITDA) 74.75% 59.74% 99.35% 64.45% 59.59% 59.08% 48.47% 47.1%
FCF Conversion (Net income) 89.07% 79.76% 513.13% - 74.9% 97.76% 83.59% 85.31%
Dividend per Share 2 1.100 1.120 1.140 0.9100 1.150 0.9924 0.8566 0.7810
Announcement Date 06/02/20 12/03/21 03/03/22 02/03/23 07/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 13,687 - 50,079 - 43,623 38,237 - 2,152 2,736 2,552 1,368 - 1,220 1,858 2,015 1,299 1,187 1,882 - -
EBITDA 1 1,055 1,827 1,416 1,990 -104 - 816 561 895 891 344 1,125 318 459 622 304 251.5 473.5 - -
EBIT 1 600 1,206 1,070 - -438 574 136 421 744 784 262 960 226 359 530 221.7 173 372.3 - -
Operating Margin 4.38% - 2.14% - -1% 1.5% - 19.56% 27.19% 30.72% 19.15% - 18.52% 19.32% 26.3% 17.06% 14.57% 19.78% - -
Earnings before Tax (EBT) 1 1,583 717 2,128 - -3,561 -8,659 - 737 -1,559 720 175 - 224 488 580 170 115.5 372 - -
Net income 1 1,244 618 842 - -2,222 -5,686 - 6,099 -608 565 -3,232 - 188 410 471 137 93 270.5 - -
Net margin 9.09% - 1.68% - -5.09% -14.87% - 283.41% -22.22% 22.14% -236.26% - 15.41% 22.07% 23.37% 10.54% 7.83% 14.37% - -
EPS 2 1.400 0.7000 0.9500 - -2.500 -6.400 - 6.860 -0.6800 0.6300 -3.600 - 0.2100 0.4500 0.5300 0.1700 0.1400 0.3450 - -
Dividend per Share 2 - - 1.140 - - - - - - - - - - - - 0.2528 0.2528 0.2528 0.2368 0.2368
Announcement Date 19/08/20 17/08/21 03/03/22 03/03/22 12/05/22 25/08/22 25/08/22 10/11/22 02/03/23 11/05/23 04/08/23 04/08/23 02/11/23 07/02/24 30/04/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 5,260 7,023 9,628 1,084 942 1,034 1,240 1,436
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.978 x 2.885 x 2.522 x 0.445 x 0.495 x 0.6172 x 0.8255 x 1.015 x
Free Cash Flow 1 1,320 1,454 3,792 1,570 1,134 990 728 666
ROE (net income / shareholders' equity) 11.9% 14.1% 5.89% 15.7% 14.3% 11.9% 10.3% 9.13%
ROA (Net income/ Total Assets) 6.48% 4.49% 0.71% 1.79% 5.43% 5.31% 4.94% 4.31%
Assets 1 22,887 40,587 1,03,734 -1,35,065 27,898 19,087 17,629 18,115
Book Value Per Share 2 14.60 14.60 13.70 8.550 9.400 9.280 9.240 9.220
Cash Flow per Share 2 2.270 2.880 5.580 2.370 1.910 1.890 1.360 1.250
Capex 1 695 1,101 1,178 534 576 551 538 524
Capex / Sales 12.76% 2.25% 1.05% 6.07% 8.58% 8.8% 8.99% 9.01%
Announcement Date 06/02/20 12/03/21 03/03/22 02/03/23 07/02/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
16
Last Close Price
14.67 EUR
Average target price
13.11 EUR
Spread / Average Target
-10.66%
Consensus