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Fortum Valuation Multiples
Discover revenue and EBITDA valuation multiples for Fortum and similar public comparables like IndianOil, EDP Group, NiSource, Norsk Hydro and more.
Fortum Overview
About Fortum
Fortum Oyj is a Finnish energy company that operates power plants that use renewable energy sources (hydro, nuclear, and solar power) to sell electricity, heat, cooling, and power products and services. The company mainly operates in Nordic and Baltic countries, Russia, Poland, and India. Its main divisions of the company are generation (large-scale power production), city solutions (sustainable energy solutions), Russia (all Russian operations), technology and new ventures (research and development and in-house incubator for startups), mergers and acquisitions, and solar and wind development. The company's operating segments are Generation, Consumer Solutions, and Other Operations.
Founded
1998
HQ
Employees
4.6K
Website
Sectors
Financials (LTM)
EV
$25B
Fortum Financials
Fortum reported last 12-month revenue of $6B and EBITDA of $2B.
In the same LTM period, Fortum generated $2B in gross profit, $2B in EBITDA, and $965M in net income.
Revenue (LTM)
Fortum P&L
In the most recent fiscal year, Fortum reported revenue of $6B and EBITDA of $2B.
Fortum expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $6B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 36% | XXX | 40% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 26% | XXX | 29% | XXX | XXX | XXX |
| EBIT Margin | 20% | XXX | 19% | XXX | XXX | XXX |
| Net Profit | $965M | XXX | $904M | XXX | XXX | XXX |
| Net Margin | 16% | XXX | 15% | XXX | XXX | XXX |
| Net Debt | — | — | $2B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Fortum Stock Performance
Fortum has current market cap of $22B, and enterprise value of $25B.
Market Cap Evolution
Fortum's stock price is $24.91.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $25B | $22B | 0.0% | XXX | XXX | XXX | $1.01 |
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Start Free TrialFortum Valuation Multiples
Fortum trades at 4.0x EV/Revenue multiple, and 15.6x EV/EBITDA.
EV / Revenue (LTM)
Fortum Financial Valuation Multiples
As of April 20, 2026, Fortum has market cap of $22B and EV of $25B.
Equity research analysts estimate Fortum's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Fortum has a P/E ratio of 23.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $22B | XXX | $22B | XXX | XXX | XXX |
| EV (current) | $25B | XXX | $25B | XXX | XXX | XXX |
| EV/Revenue | 4.0x | XXX | 4.2x | XXX | XXX | XXX |
| EV/EBITDA | 15.6x | XXX | 14.5x | XXX | XXX | XXX |
| EV/EBIT | 20.5x | XXX | 22.4x | XXX | XXX | XXX |
| EV/Gross Profit | 11.1x | XXX | 10.3x | XXX | XXX | XXX |
| P/E | 23.2x | XXX | 24.7x | XXX | XXX | XXX |
| EV/FCF | 45.9x | XXX | 61.1x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Fortum Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Fortum Margins & Growth Rates
Fortum's revenue in the last 12 month grew by 6%.
Fortum's revenue per employee in the last FY averaged $1.3M, while opex per employee averaged $0.3M for the same period.
Fortum's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Fortum's rule of X is 56% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Fortum Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 11% | XXX | XXX | XXX |
| EBITDA Margin | 26% | XXX | 29% | XXX | XXX | XXX |
| EBITDA Growth | 12% | XXX | 7% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 39% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 56% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 22% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Fortum Public Comps
See public comps and valuation multiples for other Utilities and Renewable Energy comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Fortum | XXX | XXX | XXX | XXX | XXX | XXX |
| IndianOil | XXX | XXX | XXX | XXX | XXX | XXX |
| EDP Group | XXX | XXX | XXX | XXX | XXX | XXX |
| NiSource | XXX | XXX | XXX | XXX | XXX | XXX |
| Norsk Hydro | XXX | XXX | XXX | XXX | XXX | XXX |
| Tenaga Nasional | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Fortum M&A Activity
Fortum acquired XXX companies to date.
Last acquisition by Fortum was on XXXXXXXX, XXXXX. Fortum acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Fortum
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialFortum Investment Activity
Fortum invested in XXX companies to date.
Fortum made its latest investment on XXXXXXXX, XXXXX. Fortum invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Fortum
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Fortum
| When was Fortum founded? | Fortum was founded in 1998. |
| Where is Fortum headquartered? | Fortum is headquartered in Finland. |
| How many employees does Fortum have? | As of today, Fortum has over 4K employees. |
| Who is the CEO of Fortum? | Fortum's CEO is Markus Rauramo. |
| Is Fortum publicly listed? | Yes, Fortum is a public company listed on Nasdaq Helsinki. |
| What is the stock symbol of Fortum? | Fortum trades under FORTUM ticker. |
| When did Fortum go public? | Fortum went public in 1998. |
| Who are competitors of Fortum? | Fortum main competitors are IndianOil, EDP Group, NiSource, Norsk Hydro. |
| What is the current market cap of Fortum? | Fortum's current market cap is $22B. |
| What is the current revenue of Fortum? | Fortum's last 12 months revenue is $6B. |
| What is the current revenue growth of Fortum? | Fortum revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of Fortum? | Current revenue multiple of Fortum is 4.0x. |
| Is Fortum profitable? | Yes, Fortum is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Fortum? | Fortum's last 12 months EBITDA is $2B. |
| What is Fortum's EBITDA margin? | Fortum's last 12 months EBITDA margin is 26%. |
| What is the current EV/EBITDA multiple of Fortum? | Current EBITDA multiple of Fortum is 15.6x. |
| What is the current FCF of Fortum? | Fortum's last 12 months FCF is $534M. |
| What is Fortum's FCF margin? | Fortum's last 12 months FCF margin is 9%. |
| What is the current EV/FCF multiple of Fortum? | Current FCF multiple of Fortum is 45.9x. |
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