Fortum OYJ (FOJCY)
OTHER OTC:FOJCY
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Fortum OYJ
(OTC:FOJCY)
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Rating:63Neutral
Price Target:
$5.50
â–²(30.95% Upside)
Action:ReiteratedDate:03/05/26
The score is primarily held back by financial performance—especially volatile earnings quality and inconsistent cash flow conversion with a sharp free-cash-flow step-down—despite an improving leverage profile. Technicals are broadly neutral-to-slightly constructive, and valuation is helped by a very high dividend yield, though the P/E remains on the higher side.
Positive Factors
Improving leverage profile
A materially improved debt-to-equity trajectory strengthens the company's financial flexibility typical for utilities: lower refinancing risk, greater capacity for capital expenditure or dividend support, and more room to absorb cyclical shocks without forcing asset sales.
Negative Factors
Weak free cash flow
Sharp FCF deterioration and low cash conversion are structurally important: they constrain the firm's ability to self‑fund capex, pay steady dividends, or accelerate debt reduction. Persistent weak cash flow increases reliance on external financing and limits strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage profile
A materially improved debt-to-equity trajectory strengthens the company's financial flexibility typical for utilities: lower refinancing risk, greater capacity for capital expenditure or dividend support, and more room to absorb cyclical shocks without forcing asset sales.
Read all positive factors
Fortum OYJ (FOJCY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.11B
Dividend Yield10.93%
Average Volume (3M)176.00
Price to Earnings (P/E)21.8
Beta (1Y)0.46
Revenue Growth-19.13%
EPS Growth-30.28%
CountryUS
Employees4,451
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.06
Shares Outstanding4,486,322,300
10 Day Avg. Volume72
30 Day Avg. Volume176
Financial Highlights & Ratios
PEG Ratio-0.63
Price to Book (P/B)1.95
Price to Sales (P/S)3.34
P/FCF Ratio49.08
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue4.35
Enterprise Value/Gross Profit11.33
Enterprise Value/Ebitda15.08
Forecast
1Y Price Target
$4.20Price Target Upside0.00%
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Fortum OYJ Business Overview & Revenue Model
Company Description
Fortum OYJ is a leading clean energy company based in Finland, primarily engaged in the generation, distribution, and sale of electricity and heat. The company operates in various segments, including Power Generation, Customer Solutions, and Heat,...
How the Company Makes Money
Fortum makes money primarily by producing and selling electricity and by monetizing energy-related services and assets. Key revenue streams include: (1) Wholesale electricity sales: Fortum generates electricity from its power plants and sells it i...
Fortum OYJ Earnings Call Summary
Earnings Call Date:Oct 29, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted several positive developments, such as an increase in power prices, a successful efficiency improvement program, and strong performance in the Consumer Solutions segment. However, these were offset by challenges such as decreased generation volumes, particularly in nuclear and hydro sectors, which impacted the financial results. Overall, the sentiment reflects a balanced view with significant achievements but also notable challenges.Positive Updates
Increased Power Prices
Achieved power price for Q3 was EUR 46.1 per megawatt hour, higher than last year's EUR 44.1, supported by higher spot prices and strong physical optimization.
Negative Updates
Decreased Generation Volumes
Nuclear and hydro volumes were below normal levels, impacting financial performance with a decrease in comparable operating profit in the Generation segment.
Read all updates
Q3-2025 Updates
Positive
Negative
Increased Power Prices
Achieved power price for Q3 was EUR 46.1 per megawatt hour, higher than last year's EUR 44.1, supported by higher spot prices and strong physical optimization.
Read all positive updates
Company Guidance
During Fortum's fiscal year 2025 third-quarter webcast, CEO Markus Rauramo and CFO Tiina Tuomela highlighted several key metrics. The achieved power price rose to EUR 46.1 per megawatt hour, up from EUR 44.1 the previous year, due to higher spot prices and strong optimization, while realized market prices increased by EUR 17 per megawatt hour year-over-year. Despite this, generation volumes were affected by lower nuclear and hydro output, with hydro volumes at 17.8 terawatt hours compared to a normal year range of 20-20.5 terawatt hours, and nuclear volumes down by 3.6 terawatt hours. The efficiency improvement program is expected to reduce annual fixed costs by EUR 100 million by 2025. Fortum's comparable operating profit for Q3 was EUR 97 million, and comparable EPS was EUR 0.08. The company also adjusted its optimization premium guidance for 2025 to approximately EUR 10 per megawatt hour, up from a previous estimate of EUR 7 to EUR 9, driven by higher power price volatility. The balance sheet remained stable with a leverage ratio of 1.0x financial net debt to comparable EBITDA.Fortum OYJ Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.99B | 5.80B | 6.71B | 8.80B | 112.40B |
| Gross Profit | 2.09B | 2.40B | 2.90B | 3.33B | 7.23B |
| EBITDA | 1.44B | 2.04B | 2.21B | 2.46B | 4.82B |
| Net Income | 765.00M | 1.16B | -2.07B | 1.01B | -114.00M |
Balance Sheet | |||||
| Total Assets | 16.44B | 17.31B | 18.74B | 23.64B | 149.66B |
| Cash, Cash Equivalents and Short-Term Investments | 2.90B | 4.13B | 4.18B | 3.92B | 7.59B |
| Total Debt | 4.75B | 4.83B | 5.91B | 7.84B | 17.22B |
| Total Liabilities | 7.82B | 8.15B | 10.24B | 15.90B | 136.00B |
| Stockholders Equity | 8.54B | 9.07B | 8.44B | 7.67B | 12.13B |
Cash Flow | |||||
| Free Cash Flow | 340.00M | 909.00M | 1.24B | -9.30B | 3.79B |
| Operating Cash Flow | 840.00M | 1.39B | 1.82B | -8.77B | 4.97B |
| Investing Cash Flow | -614.00M | 604.00M | 1.10B | -985.00M | -5.73B |
| Financing Cash Flow | -1.46B | -2.04B | -2.61B | 6.07B | 6.01B |
Fortum OYJ Technical Analysis
Positive
4.20
Price Trends
4.74
Positive
4.50
Positive
4.13
Positive
Market Momentum
0.12
Negative
58.01
Neutral
82.93
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FOJCY, the sentiment is Positive. The current price of 4.2 is below the 20-day moving average (MA) of 4.93, below the 50-day MA of 4.74, and above the 200-day MA of 4.13, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 58.01 is Neutral, neither overbought nor oversold. The STOCH value of 82.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FOJCY.
Fortum OYJ Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $260.91B | 36.40 | 52.36% | 0.14% | 9.43% | 35.56% | |
69 Neutral | $8.36B | 23.42 | 5.91% | 5.60% | 2.54% | 124.89% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | $23.11B | 21.81 | 8.86% | 10.93% | -19.13% | -30.28% | |
63 Neutral | $101.45B | 47.68 | 16.78% | 0.43% | 21.35% | -3.93% | |
61 Neutral | $8.36B | 23.42 | 5.91% | 5.29% | 2.54% | 124.89% | |
55 Neutral | $7.63B | -2.94 | -1196.72% | 3.84% | 5.93% | -39.88% |
* Utilities Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.