Fortum stock
FORTUM.HEHELFortum Oyj, UtilitiesISIN FI0009007132
53Score 53 out of 100, Neutral
Price and trend
72 / 100
Price history
+19% in one yearThe chart shows daily closes over 20 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Above the 200-day line: the price is 10% above it.
Since September 2026 the 50-day line has been above the 200-day line; the trend has turned up.
Normal: the price is neither overheated nor sold off (RSI 53).
The price is 5.9% below its 52-week high. Largest decline in 20 years: 72% (January 2008 to September 2022).
Chart figures for advanced users
- SMA 50$25.83
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$23.44
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)53
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDabove the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$19.24
- The lowest closing price of the last twelve months.
- Resistance$27.41
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- Fortum Oyj belongs to the Renewable Utilities industry (Finland) and, with a market value of $23.14B, is number 5 of 34 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $5.53B (down 14% year on year) and earnings of $847.7M (down 34.3%).
- For fiscal 2026, analysts expect on average revenue of $6.51B (up 17.8%) and adjusted earnings per share of $1.10 (up 21.3%).
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- MEQIRI Score 53 out of 100 (Neutral): rank 106 of 201 in Utilities, median 53.
- The P/E is 25.9 (Renewable Utilities median 31.7, own median of recent years 15.2).
- Our model puts fair value at $29.36, with the price 12% below it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
None of our strength checks applies.
Weaknesses
- Revenue shrinkingRevenue down 17.2% a year since 2022.Growth 5
- Earnings per share fallingDown 16.1% a year since 2020.Growth 5
Its standout strengths are stability and technical analysis, while growth holds the score back.
Daily figure as of 13 Nov 2026
How the score is calculatedScore overview
Score since yesterday from 55 to 53.
The fundamentals are in the middle range.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk low
How well MEQIRI warnsOne of the 30% with the lowest crash risk among stocks ranked 101 to 1,000.
From 2016 to 2025, 9 in 100 such stocks fell 30% or more within a year, against a group average of 15 in 100.
What lowers it
- low growth grade (crashed less often in the backtest)
- calm price action
- price near its 52-week high
Valuation
Valuation signal
Fairly valuedIn our model the price counts as cheap below $22.59 and expensive above $41.95 (uncertainty medium, based on the price swings of the past year).
The two parts of the fair value come to $27.11 (cash-flow model) and $31.61 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is slightly below both parts; given how much the stock swings, that still counts as fair.
Calculated with a cost of equity of 7.6%. At 8.6% the fair value would be $26.91, at 6.6% it would be $33.05.
Valuation metrics
Half from the cash-flow model, half from earnings times the industry P/E (31.7).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue rose 13.9% on the twelve months before. Revenue has declined since 2022 (-17% per year), so it is worth watching closely. From 2022 revenue only includes continuing operations, sold or discontinued divisions have been reclassified. Earlier years are not comparable and not shown, and the margins for 2022 are not measured.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 27%, operating 19%, net 15%. From 2022 revenue only includes continuing operations, sold or discontinued divisions have been reclassified. Earlier years are not comparable and not shown, and the margins for 2022 are not measured.
Debt & balance sheet
latest quarterModerate debt, and interest is adequately covered.
Earnings
- Next earnings
- 2 Feb 2027in 81 days
- Last reported
- 28 Oct 2026EPS reported $0.09 (expected $0.11)below expectations
Analyst estimates
Analysts have raised their 2027 earnings estimate by 4.7% since 15 Oct 2026.
- Earnings per share
- $1.10−2.4%
- Revenue
- $6.51B+3.1%
- Earnings per share
- $1.28+4.7%
- Revenue
- $7.58B+9.0%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook confirmed
Share price after the results: +0.6%Fortum confirms the 2026 optimization premium at EUR 8 to 10 per megawatt hour and keeps capex and tax guidance unchanged, but the longer-term outlook from 2027 is lower at EUR 6 to 8.
“For the year 2026, we maintain the guidance for optimization premium estimated to be between EUR 8 to EUR 10 per megawatt hour.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 28 Oct 2026 (fiscal Q3 2026), read by AI.
What happened at Fortum
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
201 rated companies in Utilities
- This company
- 53
- Sector median
- 53
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Renewable Utilities
The next larger and next smaller companies by market value
- China Yangtze Power600900.SS $108.65B59
- VerbundVER.VI $28.18B65
- ØrstedORSTED.CO $28.09B45
- Adani Green EnergyADANIGREEN.NS $24.9B52
- SDIC Power Holdings600886.SS $18.73B60
- EDP RenováveisEDPR.LS $16.26B47
- China Three Gorges Renewables (Group)600905.SS $13.98B34
- China Longyuan Power Group0916.HK $11.21B46
ETFs that hold Fortum
Held by 113 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| State Street SPDR MSCI Europe Utilities UCITS ETFSPYU | 1.67% | 0.18% | €724.55M |
| iShares STOXX Europe 600 Utilities UCITS ETF (DE)EXH9 | 1.55% | 0.46% | €889.97M |
| Ossiam Europe ESG Machine LearningOSX4 | 1.39% | 0.65% | €68.34M |
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| Deka EURO iSTOXX ex Fin Dividend+ UCITS ETFELFC | 1.39% | 0.31% | €386.85M |
| iShares EURO STOXX Mid UCITS ETFIQQM | 1.23% | 0.40% | €560.15M |
| iShares MSCI EMU Mid Cap UCITS ETF EURIS3H | 0.88% | 0.49% | €570.32M |
| iShares MSCI EMU CTB Enhanced ESG UCITS ETFEDM4 | 0.84% | 0.12% | €3.68B |
| Xtrackers MSCI Nordic UCITS ETF 1DXDN0 | 0.77% | 0.30% | €1.19B |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 4 Apr 2025)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.